MOD Creation Pvt Ltd. v. Case

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

…khni Tyagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P 325 ITR 25 (P&H) CIT vs. GP International Ltd 325 ITR 25 (P 325 ITR 25 (P &H) CIT vs. GP International Ltd &H) CIT vs. GP Internation…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

…yagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the perso…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

…khni Tyagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P 325 ITR 25 (P&H) CIT vs. GP International Ltd 325 ITR 25 (P 325 ITR 25 (P &H) CIT vs. GP International Ltd &H) CIT vs. GP Internation…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

…khni Tyagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT CENTRAL CIRCLE -05 , DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

…khni Tyagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P 325 ITR 25 (P&H) CIT vs. GP International Ltd 325 ITR 25 (P 325 ITR 25 (P &H) CIT vs. GP International Ltd &H) CIT vs. GP Internation…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT, CENTRAL CIRCLE-05, DELHI

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

…yagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the perso…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT, CENTRAL CIRCLE-05, DELHI

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

…yagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the perso…

VESTIGE MARKETING PVT. LTD.,DELHI vs. DCIT, CENTRAL CIRCLE- 05, DELHI

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

…yagi (P) Ltd. iii) 299 ITR 268 (Del) CIT v Divine Leasing and Finance (P) Ltd. iv) 307 ITR 334 (Del) CIT v. Value Capital Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the perso…

HORIZON BUILDMART PVT LTD,GURGAON vs. ACIT, CIRCLE-2, FARIDABAD

In the result, the appeal of the Assessee is partly allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwalhorizon Buildmart Pvt. Ltd., Asst. Cit, C-131, Ground Floor, Block-C, Central Circle-Ii, Sushant Shopping Arcade, Vs. Faridabad, Sushant Lok-1, Haryana-121001. Gurgaon-122002. Pan-Aacch4582P (Appellant) (Respondent) Shri S.S. Nagar, Ca Assessee By Department By Ms. Amisha S. Gupta, Cit Dr Date Of Hearing 03/11/2025 Date Of Pronouncement 16/01/2026 O R D E R Per Manish Agarwal, Am: This Appeal Is Filed By The Assessee Against The Order Of Learned Commissioner Of Income Tax (Appeals)-3, Gurgaon (‘Ld. Cit(A)’ In Short) Dated 27.01.2025 In Appeal No.10581/Cit(A) Ggn-3/2018-19 For Assessment Year 2011-12 Arising Out Of The Order Passed U/S 147 R.W.S 144 Of The Income Tax Act, 1961 (‘The Act’ For Short) Dated 28.12.2018. 2. Brief Facts Of The Case Are That Assessee Is Private Limited Company Engaged In The Business Of Real Estate. The Assessee Filed Its Return Of Income On 30.09.2011 Declaring A Loss Of Rs.54,833/-. The Ao Had Information That Assessee Received Loan Horizon Buildmart Pvt. Ltd. Vs. Acit

…allow appeal of assessee on legal ground raised in Ground 2(c), and quash and set-aside the assessment order so passed.” 18. On the issue of discharging the onus, the Hon'ble Delhi High court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, held as under: Horizon Buildmart Pvt. Ltd. vs. ACIT "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, t…

NEW TRACK EXIM PRIVATE LIMITED,DELHI vs. INCOME TAX OFFICER, WARD 18(3), DELHI

In the result, appeal of the assessee is partly allowed

Bench: SHRI SUDHIR KUMAR (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

…allow appeal of assessee on legal ground raised in Ground 2(c), and quash and set-aside the assessment order so passed.” 15. On the issue of discharging the onus, the Hon'ble Delhi High court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, held as under: "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the Assessee. T…

WESTCOURT HOSPITALITY PVT LTD,NEW DELHI vs. DCIT, CIRCLE-25(1), DELHI

In the result appeal of the assessee is allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwal[Assessment Year: 2018-19] Acit, Circle 25(1), Room Vs M/S. Westcourt Hospitality No. 192A, Cr Building, Pvt. Ltd. Ip Estate New-Delhi. 4391, B-5 & 6, Vasant Kunj, 110002 New Delhi-110070. Pan-Aaacw8734G Appellant Respondent [Assessment Year: 2018-19] M/S. Westcourt Hospitality Vs Acit, Circle 25(1),Room Pvt. Ltd. No. 192A, Cr Building, Ip 4391, B-5 & 6, Vasant Estate New-Delhi. 110002 Kunj, New Delhi-110070. Pan-Aaacw8734G Appellant Respondent

…preme court in the case of Daulatram Rawatmull, (1964) 53 ITR 574. 20. On the issue of discharge the onus of establishing the creditworthiness of the loan creditor, the Hon'ble Delhi High court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, has held as under: "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the Assesse…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-25(1), NEW DELHI, NEW DELHI vs. WESTCOURT HOSPITALITY PRIVATE LIMITED, NEW DELHI

In the result appeal of the assessee is allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwal[Assessment Year: 2018-19] Acit, Circle 25(1), Room Vs M/S. Westcourt Hospitality No. 192A, Cr Building, Pvt. Ltd. Ip Estate New-Delhi. 4391, B-5 & 6, Vasant Kunj, 110002 New Delhi-110070. Pan-Aaacw8734G Appellant Respondent [Assessment Year: 2018-19] M/S. Westcourt Hospitality Vs Acit, Circle 25(1),Room Pvt. Ltd. No. 192A, Cr Building, Ip 4391, B-5 & 6, Vasant Estate New-Delhi. 110002 Kunj, New Delhi-110070. Pan-Aaacw8734G Appellant Respondent

…preme court in the case of Daulatram Rawatmull, (1964) 53 ITR 574. 20. On the issue of discharge the onus of establishing the creditworthiness of the loan creditor, the Hon'ble Delhi High court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, has held as under: "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the Assesse…

NIDHI RANI,PANIPAT vs. INCOME TAX OFFICE, WARD-1, PANIPAT, PANIPAT

In the result, appeal of the assessee is allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwal[Assessment Year : 2018-19] Smt. Nidhi Rani Vs Ito 1361, Sector-25, Part-Ii Ward-1, Panipat, Haryana-132103 Panipat Pan-Arrpr9400P Appellant Respondent Appellant By Dr. Rakesh Gupta, Adv. Shri Somil Agarwal, Adv. & Shri Saksham Agarwal, Ca Respondent By Shri Shyam Manohar Singh, Sr.Dr Date Of Hearing 24.09.2025 Date Of Pronouncement 19.12.2025 Order

…preme court in the case of Daulatram Rawatmull, (1964) 53 ITR 574. 21. On the issue of discharge the onus of establishing the creditworthiness of the loan creditor, the Hon'ble Delhi High court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, has held as under: "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the Assesse…

SURENDER SINGH SANGWAN,DELHI vs. ITO WARD-4, SONIPAT

In the result, appeal of the assessee is partly allowed

Bench: Shri Anubhav Sharma & Shri Manish Agarwal[Assessment Year : 2016-17] Surender Singh Sangwan Vs Ito C/O-Kapil Goel, Advocate Ward-4, Aayakar F-26/124, Sector-7 Bhawan, Sonepat, Rohini, Delhi-110085 Haryana Pan-Bqsps5616M Appellant Respondent Appellant By Dr. Kapil Goel Respondent By Shri Manish Gupta, Sr. Dr Date Of Hearing 18.09.2025 Date Of Pronouncement 12.12.2025 Order Per Manish Agarwal, Am : The Present Appeal Is Filed By Assessee Against The Order Dated 06.12.2024 Passed By Ld. Commissioner Of Income Tax (A), National Faceless Appeal Centre (“Nfac”), Delhi [“Ld. Cit(A)”] In Appeal No. Cit(A), Rohtak/10489/2018-19 U/S 250 Of The Income Tax Act, 1961 [“The Act”] Arising Out Of Assessment Order Dated 27.12.2018 Passed U/S 143(3) Of The Act Pertaining To Assessment Year 2016-17. 2. Brief Facts Of The Case Are That Assessee E-Filed His Return Of Income, Declaring Total Income At Inr 7,00,190/-. The Case Was Selected For Scrutiny Through Cass & Notice U/S 143(2) Was Issued To The Assessee On 07.07.2017 & Duly Served Upon The Assessee. Thereafter, Notices U/S 142(1) Of The Act Alongwith Questionnaire Were Issued On 25.04.2018. In Response Assessee Has Filed Reply Which Were Considered By The Ao & The Assessment Order Was Passed U/S 143(3) Of The Act Dated 27.12.2018 Wherein The Total Income Stood Assessed At Inr 1,12,94,400/- By Making Addition U/S 68 Of The Act Towards Unsecured Loans Of Inr 1,05,00,000/- Received During The Year Under Appeal. Besides Disallowance Of Rs. 94,210/- Out Of Various Expenses Claimed Is Also Made.

…the Act and the AO has failed to make any independent enquiries. 17. On the issue of discharge the onus of establishing the creditworthiness of the loan creditors, the Hon'ble Delhi High court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, has held as under: "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the Assess…

INCOME TAX OFFICER WARD 52(1) NEW DELHI, NEW DELHI vs. M/S NOVEL INFRATECH, NEW DELHI

In the result appeal of the revenue is dismissed

Bench: Shri M. Balaganesh & Shri Sudhir Kumarito, Vs. M/S. Novel Infratech, Ward-52(1), Flat No. 915, Indra Prakash New Delhi Building, 21, Barakhamba Road, New Delhi (Appellant) (Respondent) Pan: Aajfn0187A

…would M/s. Novel Infratech even remotely suggest that the loans received by the assessee represented accommodation entry. 37. The issue of discharging of onus was decided by the Hon'ble Delhi High court in the case of Modi Creations (P.) Ltd. v. ITO [2013] 354 ITR 282 wherein it has held as under:- "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on…

ACIT, NEW DELHI vs. FILATEX INDIA LIMITED, DELHI

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

…saction and cannot be added us 68 of the I.T. Act. Therefore, the addition of Rs.3,60,00,000/- is deleted. 31. Further on the issue of discharging of onus, the Hon'ble Jurisdictional High Court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, has been held as under:- "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the A…

ACIT, DELHI vs. GRAND ESTATE LLP, DELHI

In the result, appeal of the Revenue in ITA No

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

…saction and cannot be added us 68 of the I.T. Act. Therefore, the addition of Rs.3,60,00,000/- is deleted. 31.Further on the issue of discharging of onus, the Hon'ble Jurisdictional High Court in the case of Mod. Creations (P.) Ltd. v. ITO reported in [2013] 354 ITR 282, has been held as under:- "It will have to be kept in mind that Section 68 of the I.T. Act only sets up a presumption against the Assessee whenever unexplained credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the…

AMBEY LABORATORIES LIMITED,DELHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, DELHI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanambey Laboratories Limited, Vs. Acit, Circle 2(2), Ground Floor, Property No.555, Delhi. Tarla Mohalla Ghitorni, Delhi – 110 030. (Pan : Aaaca4317R) (Appellant) (Respondent) Assessee By : Ms. Apoorva Bhardwaj, Ca Revenue By : Shri Ashish Tripathi, Sr. Dr Date Of Hearing : 24.04.2025 Date Of Order : 27.06.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 31.01.2024 For Assessment Year 2017-18. 2. Brief Facts Of The Case Are, Assessee Filed Its Return Of Income On 04.11.2017 Declaring Loss Of Rs.15,30,39,,439/-. The Case Was Selected For Scrutiny Under Cass & Notices Under Section 143(2) & 142(1) Of The Income-Tax

…t), b. CIT vs Shiv Dhooti Pearls & Investment Ltd. [2015] 64 taxmann.com 329 (Delhi High Court) [Please refer Page No. 62-67 of Case Law Compilation] c. Gaurav Triyugi Singh vs ITO [2020] 4231TR 531 (Bombay High Court) d. Mod. Creations Pvt. Ltd. v ITO (2013) 354 ITR 282 (Delhi High Court) 9. Therefore, the Appellant has duly established the identity and creditworthiness of the Lenders and genuineness of the transaction. Mere suspicion is not sufficient grounds to invoke Section 68 without tangible basis. 12 ISSUE - 2: DISALLOWANCE UNDER SECTION 36(1)(VII) OF THE ACT AMOUNTING TO RS.1,91,02,914/-IN RESPECT OF BA…