Ltd (216CTR195) (SC). Vodafone India Services (P) Ltd (50 Taxman 30) and Green Infra Ltd. v. ITO

38 Taxmann 253Reported decision#20680 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 350,364 Indian tax judgments — from 2019 to 2022.

Judgments citing Ltd (216CTR195) (SC). Vodafone India Services (P) Ltd (50 Taxman 30) and Green Infra Ltd. v. ITO

Income Tax Officer, Ward 5(3), Nagpur vs. M/S. 21St Century Infrastructure (India) Pvt. Ltd., Nagpur

In the result, the appeal of the Department is dismissed

ITA 207/NAG/2017[2012-13]Status: DisposedITAT Nagpur28 Jun 2022AY 2012-13

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

For Appellant: Shri MahaveerAtal, CAFor Respondent: ShriPiyushKohle, CIT-DR

Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 56

…IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI SANDEEP GOSAIN, JM & SHRI ARUN KHODPIA, AM I.T.A. No. 207/NAG/2017 Assessment Year : 2012-13 Vs. M/s. 21st Century Infrastructure (India ) The Income Tax Officer Ward 5 (3) Pvt. Ltd. Nagpur Old Motor Stand, Itwari, Nagpur PAN No.:AAACZ 1371 L Appellant Respondent Revenue by:ShriPiyushKohle, CIT-DR Assessee by: Shri MahaveerAtal, CA Date of Hearing: 25/04/2022 Date of Pronouncement: 28 /06/2022 ORDER PER: SANDEEP GOSAIN, J.M. The Department has filed an appeal against the order of the ld. CIT(A)-4, Nagpur dated 29-03-2017 for the assessment yea…

DCIT -3(3)(1), Mumbai vs. Rockwood Hotels & Resorts Ltd., Mumbai

The appeal stand dismissed

ITA 5966/MUM/2018[2013-14]Status: DisposedITAT Mumbai30 Aug 2021AY 2013-14

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील िं./ I.T.A. No.5966/Mum/2018 (धििाारण वर्ा / Assessment Year: 2013-14) Dcit- 3(3)(1) M/S Rockwood Hotels & Resorts Ltd. Room No. 609, 6Th Floor, बिाम/ 1520, 15Th Floor, Maker Chambers V, Aaykar Bhavan, M.K. Road, Nariman Point, Mumbai-400 021 Vs. Mumbai-400 020 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaach-8611-F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Revenue By : Shri Bharat Andhale– Ld. Sr. Dr Assessee By : Shri Aseem Thakkar – Ld. Ar ुनवाई की तारीख/ : 02/06/2021 Date Of Hearing घोषणा की तारीख / : 30/08/2021 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri Aseem Thakkar – Ld. ARFor Respondent: Shri Bharat Andhale– Ld. Sr. DR

Section 143(3)Section 68

…12 had been made applicable from A.Y.2013-14 and does not apply to the year under consideration i.e., for the A.Y.2012-13. Our this view is supported by the decision of ITAT in the case of M/s Gagandeep Infrastructure Pvt. Ltd and M/s Green Infra Ltd. vs. ITO 38 Taxmann 253 wherein it is held that it is the prerogative of the board of directors of the company to decide the share premium and it is the wisdom of the shareholders whether they want to subscribe to such heavy share premium. 12. We found that CIT(A) has dealt with the issue threadbare in respect of each share applicant and after applying various judici…

ITO 7(1)(3), Mumbai vs. Heckyl Technolgies P. Ltd, Mumbai

ITA 3087/MUM/2017[2012-13]Status: DisposedITAT Mumbai23 Jul 2020AY 2012-13

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2012-13 Ito-7(1)(3) M/S Heckyl Technologies Pvt.Ltd. Unit No.1002, 10Th Floor Room No.11, Ground Floor Vs. Aayakar Bhavan, W, Supreme Business Park Mumbai- 400020 Hiranandani Garden Powai, Mumbai-400 076

For Appellant: Shri Piyus ChhajjedFor Respondent: Shri R.Bhupathi

Section 100Section 143(3)Section 56(1)Section 56(2)(viib)Section 68Section 78(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “H”, MUMBAI Before Shri Rajesh Kumar, Accountant Member & Shri Amarjit Singh, Judicial Member Assessment Year: 2012-13 ITO-7(1)(3) M/s Heckyl Technologies Pvt.Ltd. Unit NO.1002, 10th Floor Room No.11, Ground Floor Vs. Aayakar Bhavan, W, Supreme Business Park Mumbai- 400020 Hiranandani Garden Powai, Mumbai-400 076 PAN AACCH5452L (Revenue) (Assessee) Cross Objection No.270/Mum/2018 (Arising out of ITA No.3087/Mum/2017) Assessment Year: 2012-13 M/s Heckyl Technologies Pvt.Ltd. ITO-7(1)(3) Unit NO.1002, 10th Floor Room No.11, Ground Floor Vs. W, Supreme Business…

ITO 7(1)(3), Mumbai vs. Homeshine Properties P.Ltd, Mumbai

ITA 2231/MUM/2017[2009-10]Status: DisposedITAT Mumbai10 Apr 2019AY 2009-10

Bench: Hon’Ble Sh. Sandeep Gosain, Jm & Hon’Ble Sh. N. K. Pradhan, Am आयकरअपीलसं./ I.T.A. No. 2231/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2009-10)

For Appellant: Shri Rajeev K. Gubgotra, SrFor Respondent: Shri G. C. Lalka, AR

Section 143(3)Section 68Section 78(2)

…ved on issue of share capital - including the premium - are undoubtedly on the capital account. In a relatively recent judgment, the Mumbai Bench of the Hon'ble Tribunal had occasion to examine this very issue once more in the case of Green Infra Ltd. v. ITO (38 Taxmann 253). It had cited the judgments of the Hon'ble Supreme Court discussed earlier in this order. 15 I.T.A. No. 2231/Mum/2017 M/s Homeshine Properties Pvt. Ltd. It had then examined the facts of that case and stated that a non est and zero balance company asking for premium of Rs. 490/- per share with a face value of Rs. 10/- defies commercial prude…