How many judgments cite Major Metals Ltd. v. Union of India?

54 judgments on BharatTax cite Major Metals Ltd. v. Union of India (19 Taxmann.com 176), spanning 2015 to 2025.

Which sections of the Income Tax Act does Major Metals Ltd. v. Union of India come up under?

It is most often cited in judgments turning on Section 68, Section 131, Section 132, Section 133A, Section 143(3), Section 147.

Major Metals Ltd. v. Union of India

19 Taxmann.com 176High Court2012#2154 most cited

What is Major Metals Ltd. v. Union of India authority for?

When an unlisted company issues shares at an unjustifiably high premium to subscribers who lack the financial standing and creditworthiness, the entire transaction may be deemed not genuine, leading to the addition of the share capital and premium under Section 68 as unexplained cash credit.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2025.

Also referred to as

Major Metals Ltd. v. Union of India · Section 68 · share capital · share premium · cash credit · creditworthiness of subscribers · financial standing · genuineness of transaction · unexplained money · unjustifiable premium · shell company · paper company

Also reported as

359 ITR 450207 Taxmann 185

Sections most often in play

Section 68 Section 131 Section 132 Section 133A Section 143(3)Section 147 Section 148 Section 153A

Issues it is cited on

onus of proof section 39 source of source accumulated profits shell company creditworthiness of the creditor paper company share capital and share premium section 260 section 260a date of transfer disallowance of interest expenditure

Judgments citing Major Metals Ltd. v. Union of India

M/S Advent Commodities Pvt. Ltd., ITO, Ward-4(3) vs. ITO, Ward-4(3), Kolkata

In the result, the appeal of the assessee is allowed

ITA 522/KOL/2020[2012-13]Status: DisposedITAT Kolkata27 Jan 2021AY 2012-13

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 131Section 131(1)Section 144(1)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA (Virtual Court) (Before Sri J. Sudhakar Reddy, Accountant Member & Sri Aby T. Varkey, Judicial Member) I.T.A. No. 522/Kol/2020 Assessment Year: 2012-13 M/s. Advent Commodities Pvt. Ltd.................................................................................Appellant [PAN: AAFCA 5283 P] Vs. ITO, Ward-4(3), Kolkata...............................................................................................Respondent Appearances by: Sh. S.M. Surana, Adv., appeared on behalf of the Assessee. Smt. Ranu Biswas, Addl. CIT, appeared on behalf of t…

Dy CIT CC 2 (2), Mumbai vs. Smt. Kalpana Mukesh Ruia, Mumbai

The appeal stands dismissed

ITA 6962/MUM/2019[2012-13]Status: DisposedITAT Mumbai31 Dec 2020AY 2012-13

Section 143(1)Section 143(3)Section 153ASection 68

…THE INCOME TAX APPELLATE TRIBUNAL “H” Bench, Mumbai Shri Shamim Yahya (AM) & Shri Ramlal Negi (JM) I.T.A. No. 6519/Mum/2019 (Assessment Year 2012-13) I.T.A. No. 6520/Mum/2019 (Assessment Year 2013-14) I.T.A. No. 6521/Mum/2019 (Assessment Year 2014-15) Smt. Kalpana Mukesh Ruia DCIT, CC-2(2) 1102/1103, Express Zone Vs. Old CGO Building A Wing, Patel Vatika Annexe, 8th Floor Off Western Express M.K. Road Highway, Malad-East Mumbai-400 020. Mumbai-400 097. PAN : ASRPR4293B (Appellant) (Respondent) I.T.A. No. 6960/Mum/2019 (Assessment Year 2014-15) Sneha Rajesh Ruia DCIT, CC-2(2) 2202 A, Lakshchandi Vs. Old CGO B…

Kalpna Mukesh Ruia, Mumbai vs. DCIT CC 2 (2), Mumbai

The appeal stands dismissed

ITA 6519/MUM/2019[2012-13]Status: DisposedITAT Mumbai31 Dec 2020AY 2012-13

Section 143(1)Section 143(3)Section 153ASection 68

ITO 10(2)(3), Mumbai vs. Malchand Dindayal Salts Pvt. Ltd., Mum

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

ITA 6908/MUM/2018[2010-11]Status: DisposedITAT Mumbai01 Dec 2020AY 2010-11

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकरअपीलसं/ I.T.A. No. 6908/M/2018 (निर्धारणवर्ा / Assessment Year: 2010-11) Ito-10(2)(3) Vs. M/S. Malchand Dindayal R. No. 216-A, Aayakar Salts Pvt. Ltd., Bhavan, M. K. Road, Ground Floor, Shri Agarwal Mumbai-400020. Bhavan, Modi Patel Road, Bhayander (W), Thane (W), Mumbai-401101. आयकरअपीलसं/ I.T.A. No. 7097/M/2018 (निर्धारणवर्ा / Assessment Year: 2010-11) M/S. Malchand Dindayal Vs. Ito-10(2)(3) Salts Pvt. Ltd., R. No. 216-A, Aayakar Ground Floor, Shri Agarwal Bhavan, M. K. Road, Bhavan, Modi Patel Road, Mumbai-400020. Bhayander (W), Thane (W), Mumbai-401101. स्थायीलेखासं./जीआइआरसं./ Pan/Gir No. : Aagcm2416D (Appellant) .. (Respondent)

For Appellant: Shri Neelkanth KhandelwalFor Respondent: Shri Vijay Kumar G. Subramanyam (Sr

Section 143(1)Section 143(3)Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL“D” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI AMARJIT SINGH, JM आयकरअपीलसं/ I.T.A. No. 6908/M/2018 (निर्धारणवर्ा / Assessment Year: 2010-11) ITO-10(2)(3) Vs. M/s. Malchand Dindayal R. No. 216-A, Aayakar Salts Pvt. Ltd., Bhavan, M. K. Road, Ground Floor, Shri Agarwal Mumbai-400020. Bhavan, Modi Patel Road, Bhayander (W), Thane (W), Mumbai-401101. आयकरअपीलसं/ I.T.A. No. 7097/M/2018 (निर्धारणवर्ा / Assessment Year: 2010-11) M/s. Malchand Dindayal Vs. ITO-10(2)(3) Salts Pvt. Ltd., R. No. 216-A, Aayakar Ground Floor, Shri Agarwal Bhavan, M. K. Road, Bhavan, Modi Patel Road…

Mukesh Garg, New Delhi vs. Pr. CIT - 16, New Delhi

Appeal of the assessee is allowed considering the above two aspects and keeping the other aspects open

ITA 1206/DEL/2020[2015-16]Status: DisposedITAT Delhi09 Nov 2020AY 2015-16

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi(Through Video Conferencing) Gunjan Garg, Vs. Pr. Cit-16, C/O. Raj Kumar & Associates Ca, Room No. 101, Drum Shape L-7A(Lgf) South Exten. Part-Ii, New Building, New Delhi Delhi Pan: Aagpg5718B (Appellant) (Respondent) Mukesh Garg, Vs. Pr. Cit-16, C/O. Raj Kumar & Associates Ca, Room No. 101, Drum Shape L-7A(Lgf) South Exten. Part-Ii, New Building, New Delhi Delhi Pan: Aaapg2585Q (Appellant) (Respondent)

For Appellant: Shri Raj Kumar Gupta, CAFor Respondent: Ms. Suniita Singh, CIT DR

Section 111Section 143Section 143(3)Section 245FSection 263Section 54B

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI H.S.SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (Through Video Conferencing) Gunjan Garg, Vs. Pr. CIT-16, C/o. Raj Kumar & Associates CA, Room No. 101, Drum Shape L-7A(LGF) South Exten. Part-II, New Building, New Delhi Delhi PAN: AAGPG5718B (Appellant) (Respondent) Mukesh Garg, Vs. Pr. CIT-16, C/o. Raj Kumar & Associates CA, Room No. 101, Drum Shape L-7A(LGF) South Exten. Part-II, New Building, New Delhi Delhi PAN: AAAPG2585Q (Appellant) (Respondent) Assessee by : Shri Raj Kumar Gupta, CA Shri Sumit Goel, CA Revenue by…

Gunjan Garg, Delhi vs. Pr. CIT-16, New Delhi

Appeal of the assessee is allowed considering the above two aspects and keeping the other aspects open

ITA 1205/DEL/2020[2015-16]Status: DisposedITAT Delhi09 Nov 2020AY 2015-16

For Appellant: Shri Raj Kumar Gupta, CAFor Respondent: Ms. Suniita Singh, CIT DR

Section 111Section 143Section 143(3)Section 245FSection 263Section 54B

ITO, Ward-10(4), Kolkata vs. M/S Gateway Enclave Pvt.Ltd., Kolkata

In the result, appeal of Revenue is dismissed

ITA 2269/KOL/2016[2012-13]Status: DisposedITAT Kolkata01 May 2019AY 2012-13

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 68

…1 M/s. Gateway Enclave Pvt. Ltd., AY 2012-13 आयकर अपील"य अधीकरण, "यायपीठ – “C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA (सम") "ी ऐ. ट". वक", "यायीक सद"य एवं डॉ. अजु"न लाल सैनी, लेखा सद"य) [Before Shri A. T. Varkey, JM & Dr. A. L. Saini, AM] I.T.A. No. 2269/Kol/2016 Assessment Year: 2012-13 Income-tax Officer, Wd-10(4), Vs. M/s. Gateway Enclave Pvt. Ltd. Kolkata. (PAN: AAECG 0052 F) Appellant Respondent Date of Hearing 12.02.2019 Date of Pronouncement 01.05.2019 For the Appellant Shri Shankar Halder, JCIT, Sr. DR For the Respondent Shri Manish Tiwari, FCA ORDER Per Shri A.T.Varkey…

M/S Radic Khaitan Ltd., Delhi vs. DCIT, New Delhi

In the result, the appeal filed by the assessee in ITA No

ITA 4355/DEL/2015[2005-06]Status: DisposedITAT Delhi11 Apr 2019AY 2005-06

Bench: Shri N.K. Billaiya & Shri K.N. Chary[Assessment Year: 2005-06]

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Smt. Sulekha Verma, CIT(DR)

Section 132Section 153ASection 245Section 245D(4)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘F’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI K.N. CHARY, JUDICIAL MEMBER [Assessment Year: 2005-06] M/s Radico Khaitan Ltd Vs. The D.C.I.T Plot No. J-1, Block B-1 Central Circle - 19 Mohan Corporate Industrial Area, New Delhi Mathura Road, New Delhi PAN No. AAACA 2513 K [Appellant] [Respondent] Date of Hearing : 03.04.2019 Date of Pronouncement : 11.04.2019 Assessee by : Shri Ajay Vohra, Sr. Adv Shri Gaurav Jain, Adv Ms. Manisha Sharma, Adv Revenue by : Smt. Sulekha Verma, CIT(DR) ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, Wit…

Capri Global Advisory Services P. Ltd, Mumbai vs. DCIT 1(1)(1), Mumbai

ITA 170/MUM/2017[2009-10]Status: DisposedITAT Mumbai10 Apr 2019AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Jitendra Jain/Mahesh Rajora-Ld.ARsFor Respondent: Abhi Rama Kartikeyan - Ld.DR

Section 143(3)Section 147Section 147rSection 148Section 68

…ee to justify the share premium was also disregarded alleging the same to be bogus piece of document to cover up real nature of the transaction. Reliance was placed on the decision of Hon’ble Bombay High Court rendered in Major Metals Ltd. Vs. Union of India [19 Taxmann.com 176] to upheld the applicability of Section 68 to such transactions. It was also concluded that the assessee failed to justify high premium of Rs.900/- per share and also failed to prove the creditworthiness of the investor company. Finally, not convinced with assessee’s explanations & submissions, the aforesaid amount of Rs.520 Lacs was added…

ITO, Ward-10(4), Kolkata vs. M/S Topaz Enclave Pvt.Ltd., Kolkata

In the result, the appeal of the revenue is dismissed

ITA 2271/KOL/2016[2012-13]Status: DisposedITAT Kolkata20 Feb 2019AY 2012-13

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravii.T.A. No. 2271/Kol/2016 Assessment Year: 2012-13 Ito, Ward-10(4), Kolkata.................................………....………………...…………………….….Appellant

Section 143(3)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, KOLKATA Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Viswanethra Ravi, Judicial Member I.T.A. No. 2271/Kol/2016 Assessment Year: 2012-13 ITO, Ward-10(4), Kolkata.................................………....………………...…………………….….Appellant M/s Topaz Enclave Pvt. Ltd.………............................................................…....….…………..…...Respondent [PAN :AADCT 2210 P] Appearances by: Shri Robin Choudhury, Addl. CIT, Sr. DR, appearing on behalf of the appellant. Shri Manish Tiwari, AR, appearing on behalf of the Respondent. Date of concluding the he…

Balbir Ispat P.Ltd, Mumbai vs. ITO 6(1)(2), Mumbai

In the result, the appeal of assessee is allowed

ITA 6953/MUM/2016[2009-10]Status: DisposedITAT Mumbai28 Jan 2019AY 2009-10

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Prakash Jhunjhunwala, ARFor Respondent: Shri Ashish V. Pophane, DR

Section 142(1)Section 143(1)Section 143(3)Section 147Section 148

…आयकर अपीलीय अधिकरण “B” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 6953/Mum/2016 (inaQa-arNa baYa- / Assessment Year 2009-10) Balbir Ispat Pvt. Ltd. The Income Tax Officer, 207, Steel Centre, Ward 6(1)(2), Room No. 6th Ahmedabad Street, Carnac 508, Floor, Aayakar Vs. Bunder, Masjid (E), Bhavan, Maharshi Karve Mumbai-400 051 Road Churchgate, Mumbai- 400 020 (ApIlaaqaI- / Appellant) .. (p`%yaqaaI- / Respondent) स्थायी लेखा िं./PA…

ITO, Ward-10(4), Kolkata vs. M/S Positive Properties Pvt. Ltd., Kolkata

In the result, appeal of revenue is dismissed

ITA 2274/KOL/2016[2012-13]Status: DisposedITAT Kolkata09 Jan 2019AY 2012-13

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 68

…1 Positive Properties Pvt. Ltd., AY 2012-13 आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA (सम") "ी ऐ. ट". वक", "यायीक सद"य एवं डॉ. अजु"न लाल सैनी, लेखा सद"य) [Before Shri A. T. Varkey, JM & Dr. A. L. Saini, AM] I.T.A. No. 2274/Kol/2016 Assessment Year: 2012-13 Income-tax Officer, Wd-10(4), Vs. M/s. Positive Properties Pvt. Ltd. Kolkata. (PAN: AAFCP7164E) Appellant Respondent Date of Hearing 01.01.2019 Date of Pronouncement 09.01.2019 For the Appellant Shri Pijush Mukherjee, Addl. CIT, Sr. DR For the Respondent Shri Manish Tiwari, AR ORDER Per Shri A.T.V…

ITO, Ward-10(4), Kolkata vs. M/S Dreamz Met Construction Projects Pvt. Ltd., Kolkata

In the result, the appeal of the revenue is dismissed

ITA 2047/KOL/2016[2012-13]Status: DisposedITAT Kolkata07 Dec 2018AY 2012-13

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 2047/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Dreamz Met Construction Projects Pvt. Ltd. [Pan: Aagcm 2068 R ] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: Shri D.S. Damle, FCA

Section 131Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Shri A T Varkey, JM, & Shri M.Balaganesh, AM] I.T.A No. 2047/Kol/2016 Assessment Year : 2012-13 ITO, Ward-10(4), Kolkata -vs- M/s Dreamz Met Construction Projects Pvt. Ltd. [PAN: AAGCM 2068 R ] (Appellant) (Respondent) For the Appellant : Shri Saurabh Kumar, Addl. CIT Sr. DR For the Respondent : Shri D.S. Damle, FCA Date of Hearing : 28.11.2018 Date of Pronouncement : 07.12.2018 ORDER Per M.Balaganesh, AM 1. This appeal by the Revenue arises out of the order of the Learned Commissioner of Income Tax(Appeals)-4, Kolkata [in shor…

ITO, Ward-10(4), Kolkata vs. M/S Tanish Dealers Pvt. Ltd., Kolkata

In the result, the appeal of the revenue is dismissed

ITA 1636/KOL/2016[2012-13]Status: DisposedITAT Kolkata07 Dec 2018AY 2012-13

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 1636/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Tanish Dealers Pvt. Ltd. [Pan: Aadct 1242 K ] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: Shri D.S. Damle, FCA

Section 131Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Shri A T Varkey, JM, & Shri M.Balaganesh, AM] I.T.A No. 1636/Kol/2016 Assessment Year : 2012-13 ITO, Ward-10(4), Kolkata -vs- M/s Tanish Dealers Pvt. Ltd. [PAN: AADCT 1242 K ] (Appellant) (Respondent) For the Appellant : Shri Saurabh Kumar, Addl. CIT Sr. DR For the Respondent : Shri D.S. Damle, FCA Date of Hearing : 28.11.2018 Date of Pronouncement : 07.12.2018 ORDER Per M.Balaganesh, AM 1. This appeal by the Revenue arises out of the order of the Learned Commissioner of Income Tax(Appeals)-4, Kolkata [in short the ld CIT(A)] in…

ITO, Ward-10(4), Kolkata vs. Ms Savera Towers Pvt. Ltd., Kolkata

In the result, the appeal of the revenue is dismissed

ITA 2275/KOL/2016[2012-13]Status: DisposedITAT Kolkata05 Dec 2018AY 2012-13

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 2275/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Savera Towers Pvt. Ltd. [Pan: Aaocs 9744 C ] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: Shri Manish Tiwari, AR

Section 131Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Shri A T Varkey, JM, & Shri M.Balaganesh, AM] I.T.A No. 2275/Kol/2016 Assessment Year : 2012-13 ITO, Ward-10(4), Kolkata -vs- M/s Savera Towers Pvt. Ltd. [PAN: AAOCS 9744 C ] (Appellant) (Respondent) For the Appellant : Shri Saurabh Kumar, Addl. CIT Sr. DR For the Respondent : Shri Manish Tiwari, AR Date of Hearing : 28.11.2018 Date of Pronouncement : 05.12.2018 ORDER Per M.Balaganesh, AM 1. This appeal by the Revenue arises out of the order of the Learned Commissioner of Income Tax(Appeals)-4, Kolkata [in short the ld CIT(A)] i…

ITO, Ward-10(4), Kolkata vs. M/S Happy Bagans Pvt. Ltd., Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 2273/KOL/2016[2012-13]Status: DisposedITAT Kolkata26 Oct 2018AY 2012-13

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 2270/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Trend Infra Developers Pvt. Ltd. [Pan: Aadct 6373 M ] (Appellant) (Respondent) I.T.A No. 2273/Kol/2016 Assessment Year : 2012-13 Ito, Ward-10(4), Kolkata -Vs- M/S Happy Bagans Pvt. Ltd. [Pan: Aacch 3712 K ] (Appellant) (Respondent)

For Appellant: Shri Altaf Hussain, Addl. CIT Sr. DRFor Respondent: Shri Manish Tiwari, FCA

Section 131Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : KOLKATA [Before Hon’ble Shri A T Varkey, JM, & Shri M.Balaganesh, AM] I.T.A No. 2270/Kol/2016 Assessment Year : 2012-13 ITO, Ward-10(4), Kolkata -vs- M/s Trend Infra Developers Pvt. Ltd. [PAN: AADCT 6373 M ] (Appellant) (Respondent) I.T.A No. 2273/Kol/2016 Assessment Year : 2012-13 ITO, Ward-10(4), Kolkata -vs- M/s Happy Bagans Pvt. Ltd. [PAN: AACCH 3712 K ] (Appellant) (Respondent) For the Appellant : Shri Altaf Hussain, Addl. CIT Sr. DR For the Respondent : Shri Manish Tiwari, FCA Date of Hearing : 26.09.2018 Date of Pronouncement : 26.10.2018 ORDE…

ITO, Ward-10(4), Kolkata vs. M/S Trend Infra Developers Pvt.Ltd, Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 2270/KOL/2016[2012-13]Status: DisposedITAT Kolkata26 Oct 2018AY 2012-13

For Appellant: Shri Altaf Hussain, Addl. CIT Sr. DRFor Respondent: Shri Manish Tiwari, FCA

Section 131Section 133(6)Section 143(3)Section 68

ITO 8(2)(2), Mumbai vs. Lotus Grih Nirman P.Ltd, Mumbai

In the result, the appeal is dismissed

ITA 3998/MUM/2014[2010-11]Status: DisposedITAT Mumbai18 Oct 2018AY 2010-11

Bench: Shri Pawan Singh () & Shri N.K. Pradhan () Assessment Year: 2010-11 Income Tax Officer 8(2)(2), M/S Lotus Grih Nirman Room No. 212/216A, 2Nd Vs. Pvt. Ltd. 419, Laxmi Floor, Aayakar Bhavan, M.K. Plaza, Laxmi Industrial Road, Mumbai-400020. Estate, Link Road, Andheri (W), Mumbai- 400059. Pan No. Aabcl0864D Appellant Respondent Revenue By : Mr. Rajesh Kumar Yadav, Dr Assessee By : Mr. Rushabh Mehta, Ar Date Of Hearing : 25/07/2018 Date Of Pronouncement : 18/10/2018

For Appellant: Mr. Rushabh Mehta, ARFor Respondent: Mr. Rajesh Kumar Yadav, DR

Section 133(6)Section 143(3)Section 68

…ase and in law, the Learned CIT(A) failed to take notice of decision of Hon'ble Delhi High Court in the case of Nova Promoters & Finlease (P) Ltd. 18 Taxmann.com 217 and the decision of Hon'ble Jurisdictional High Court in the case of M/s Major Metals Limited 19 Taxmann.com 176. 6. The appellant prays that the order of the CIT(A) on the above ground be set aside and that of the A.O. be restored. 3. In the instant case, the disputed point is the share application money of Rs.2,44,50,000/- received by the assessee from M/s Bhawana Computers Private Limited (in short ‘BCPL’). During the course of assessment proceedi…

ITO 6(3)(2), Mumbai vs. Indo Energy International Ltd, Mumbai

In the result, the Revenue’s appeal and the assessee’s cross objection are allowed for statistical purposes

ITA 523/MUM/2016[2009-10]Status: DisposedITAT Mumbai19 Sept 2018AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

For Respondent: Shri Jitendra Jain

Section 147Section 148Section 68

…efore the A.O. In this regard, he referred to several case laws and submitted that the reopening in this case is justified. The ld. DR further relied upon the decision of the Hon'ble Bombay High Court in the case of Major Metals Ltd. vs. Union of India [2013] 359 ITR 450 (Bom) for the proposition that unjustified share premium can be disallowed. He also submitted that on the merits of the case, the ld. CIT(A) has summarily dealt with the issue and has not taken into account the objection of the A.O. He submitted that without meeting the objections of the A.O., the ld. CIT(A) has erred in allowing the appeal on…

ACIT-16(1), Mumbai vs. Golden Line Studio Pvt. Ltd., Mumbai

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

ITA 6146/MUM/2016[2011-12]Status: DisposedITAT Mumbai31 Aug 2018AY 2011-12

Bench: Shri B.R. Baskaran (Am) & Shri Ramlal Negi (Jm)

Section 68

…THE INCOME TAX APPELLATE TRIBUNAL “G” Bench, Mumbai Before Shri B.R. Baskaran (AM) & Shri Ramlal Negi (JM) I.T.A. No. 6146/Mum/2016 (Assessment Year 2011-12) ACIT 16(1) M/s. Golden Line Vs. Aayakar Bhavan Studio Pvt. Ltd. Room No. 439 205/206, Multistoried M.K. Road Building, SEEPZ-SEZ Mumbai-400 020. Andheri East Mumbai-400 096 PAN : AALCS6101N (Appellant) (Respondent) Assessee by Shri Rakesh Mohan Department by Shri Abhijit Patankar Date of Hearing 18.7.2018 Date of Pronouncement 31.8.2018 O R D E R Per B.R. Baskaran (AM) : The appeal filed by the Revenue is directed against the order dated 19.7.2016 p…