Lohia Securities Ltd. v. DCIT, Kol

157 ITD 265Income Tax Appellate Tribunal#22802 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2017 to 2022.

Judgments citing Lohia Securities Ltd. v. DCIT, Kol

Wealthy Sky Development Private Limited, Jaipur vs. Pr.CIT-1, Jaipur

In the result, the appeal of the assessee is allowed

ITA 15/JPR/2021[2016-17]Status: DisposedITAT Jaipur27 Jun 2022AY 2016-17
For Appellant: Shri Bhupendra Shah, CAFor Respondent: Shri Sanjay Dhariwal, CIT
Section 143(3)Section 263Section 43(5)(d)Section 73Section 73(4)

…ore ITA No.62/Ind/2015 - Sri Vasavi Gold & Bullion (P.) Ltd.[ 92 taxmann.com 290 (Madras)] - Smt. Seema Jain 6 ITR(T) 488 (Del) - G.K. Anand Bros. Buildwell (P.) Ltd. 34 SOT 439 (Delhi) - Ivory Consultants (P.) Ltd. 96 taxmann.com 539 - Lohia Securities Ltd. [157 ITD 265 Kolkata - Trib.] Further, Hon’ble Supreme Court in the case of Vegetable Products Ltd. (88 ITR 192 SC) has categorically held that where there are two different views possible, one Ltd. (96 Taxman.com 539), under similar facts, the Calcutta High Court held as under: “Section 43(5), read with sections 73 and 263, of the Income-tax Act, 1961 -…

ACIT, Circle -15(1), Kolkata vs. Baljit Securities Pvt. Ltd., Kolkata

In the result, the appeal of revenue is partly allowed

ITA 346/KOL/2017[2012-13]Status: DisposedITAT Kolkata24 Feb 2021AY 2012-13

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 115JSection 14A

…- a) DCIT, Kol v. MPC Securities Ltd. -[2016] 72 taxmann.com 209/[2016] 160 ITD 199 (Kolkata - Trib.)J b) DCIT Kol v. Guiness Securities Ltd. [2016] 68 taxmann .com 375 (Kolkataf- Trib.) c) Lohia Securities Ltd. v. DCIT, Kol [2016] 66 taxmann.com 86 / [20jl6] 157 ITD 265 (Kolkata - Trib.). Explanation to section 73 was amended by the Finance (2) Act, 2014 whereby in the exception clause was modified to include the Companies whose principle business consists of trading in shares - w.e.f. 01.p4.2015. Hon'ble Mumbai FEAT had held in the case of "Fiduciary Shares & stock P. Ltd Vs. ACIT- ITA No. 321/Mum/2013 - A.Y.20…

M/S.Acumen Capital Market(India) Ltd, Ernakulam vs. The ITO, Cochin

In the result, the appeal filed by the assessee is allowed

ITA 555/COCH/2015[2012-13]Status: DisposedITAT Cochin24 Mar 2017AY 2012-13

Bench: S/Shri Abraham P George, Am & George George K, Jm Acumen Capital Marketing (I) Ltd Vs The Income Tax Officer 3Rd Floor St Reddiar & /Sons Bldg Ward 1(1), Kochi Veekshanam /Road Ernakulam ( Appellant) (Respondent)

Section 143(3)Section 14ASection 263Section 43Section 5

…CIT u/s 263 of the Act. Therefore, the order passed u/s 263 is to be quashed. For the above proposition, the ld counsel relied on the following orders of the Tribunal: i) ITO vs Snow Tex reinvestment Ltd 129 DTR (Trib) 203 ii) Lohia Securities Ltd vs DCIT 157 ITD 265 iii) Fiduciary shares & Stock Pvt Ltd Vs ACIT – ITA no.321/Mum/2013 iv) Sri Sahul Hammed vs ITO 498/Coch/2015 5.1 The ld DR, on the other hand, submitted that the order of the assessment is bad in law since there is no proper enquiries conducted by the Assessing Officer with regard 4 to the points noted by the CIT in his revisionary order pa…