M/s. N.R. Portfolio v. CIT

263 ITR 456High Court#24223 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2025.

Sections most often in play

Section 115JBSection 131Section 143(2)Section 143(3)Section 250Section 263Section 271(1)(c)Section 68

Judgments citing M/s. N.R. Portfolio v. CIT

ASSISTANT COMMISSIONER OF INCOME TAX, KALYAN vs. JAMINI INDUSTRIES PRIVATE LIMITED, BADLAPUR

In the result, the appeals filed by the revenue bearing ITA Nos 6081 &

ITA 6082/MUM/2024[2015-16]Status: DisposedITAT Mumbai09 Sept 2025AY 2015-16

Bench: Shri Narendra Kumar Billaiya & Shri Anikesh Banerjee

For Appellant: Shri Akkal DhudhewalaFor Respondent: Ms. Kavitha Kaushik (SR DR)
Section 115JSection 143(2)Section 143(3)Section 250Section 263Section 27Section 68

…rties which could not be traced by the Investigation Wing, Kolkata were involve in providing the unsecured loan entries to the assessee. Further the reliance is placed on the judgment of Hon'ble Supreme Court in the case of M/s. N.R. Portfolio vs CIT [(2013) (263 ITR 456) (Delhi)] where it was held that if the parties are not traceable, the addition u/s. 68 of the 1.T. Act, 1961 will be upheld. The loans received Rs.5,72,00,000/- are treated as income of the assessee u/s 68 as the explanation given for those entries is not found satisfactory. The interest payments made on them of a sum of Rs.63,29,161/- are hereb…

ASSISTANT COMMISSIONER OF INCOME TAX, KALAYN vs. JAMINI INDUSTRIES PRIVATE LIMITED, BADLAPUR

In the result, the appeals filed by the revenue bearing ITA Nos 6081 &

ITA 6081/MUM/2024[2014-15]Status: DisposedITAT Mumbai09 Sept 2025AY 2014-15

Bench: Shri Narendra Kumar Billaiya & Shri Anikesh Banerjee

For Appellant: Shri Akkal DhudhewalaFor Respondent: Ms. Kavitha Kaushik (SR DR)
Section 115JSection 143(2)Section 143(3)Section 250Section 263Section 27Section 68

…rties which could not be traced by the Investigation Wing, Kolkata were involve in providing the unsecured loan entries to the assessee. Further the reliance is placed on the judgment of Hon'ble Supreme Court in the case of M/s. N.R. Portfolio vs CIT [(2013) (263 ITR 456) (Delhi)] where it was held that if the parties are not traceable, the addition u/s. 68 of the 1.T. Act, 1961 will be upheld. The loans received Rs.5,72,00,000/- are treated as income of the assessee u/s 68 as the explanation given for those entries is not found satisfactory. The interest payments made on them of a sum of Rs.63,29,161/- are hereb…

ACIT, NEW DELHI vs. M/S JAYPEE FINANCIAL SERVICES LTD.,, NEW DELHI

In the result, the appeal filed by the revenue is dismissed

ITA 4266/DEL/2016[2011-12]Status: DisposedITAT Delhi03 Dec 2019AY 2011-12

Bench: Sh. R. K. Pandaand. Sh. Kuldip Singhassessment Year: 2011-12 Acit Vs. M/S. Jaypee Financial Central Circle- 29 Services Limited New Delhi Fa-45, Shivaji Enclave, New Delhi-110027 Pan No.Aaacj2992B (Appellant) (Respondent)

Section 132Section 142Section 153A

…as not appreciated the intricacies of client code modification resorted to by the assessee to divert their profit in collision with stock brokers. He also relied on the following decisions :- 1. CIT Vs. MAF Academy 361 ITR 258 (Del) 2. CIT Vs. N. R. Portfolio 263 ITR 456 (Del) 3. CIT Vs. Navodaya Castle P. Ltd. 367 ITR 306 4. PCIT Vs. NDR Promoters 140 ITR 379 8. The Ld. Counsel for the assesse on the other hand heavily relied on the order of the CIT(A). He submitted that the AO has heavily relied upon the report of the special auditor which itself is not based on any material against the assessee. Referring to p…

M/s. N.R. Portfolio v. CIT (263 ITR 456) — Cited in 3 Judgments | BharatTax