National Travel Services v. CIT

401 ITR 154Supreme Court of India2018#3757 most cited

What is National Travel Services v. CIT authority for?

The Supreme Court refers the issue of whether a shareholder must be both registered and beneficial for reconsideration by a larger bench.

32

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.

Also referred to as

National Travel Services v. CIT · SC · 2018 · shareholder registered beneficial · section 2(22)(e) · deemed dividend · accumulated profits · closely held company

Also reported as

89 Taxmann.com 332

Sections most often in play

Section 2(22)(e)Section 143(3)Section 147Section 148Section 250Section 35DDA

Issues it is cited on

accumulated profitsclosely held companysection 2(22)deemed dividendsection 2(22)(e)section 47beneficial ownerdirect tax vivad se vishwasliable to taxescapement of incomesection 56vivad se vishwas

Judgments citing National Travel Services v. CIT

BSST INDIA PRIVATE LIMITED,GHAZIABAD vs. COMMISSIONER OF INCOME-TAX (APPEALS), DELHI

In the result, appeal is allowed

ITA 4448/DEL/2025[2015-16]Status: DisposedITAT Delhi18 Dec 2025AY 2015-16

Bench: Shri Mahavir Singh, Hon’Ble & Shri Sanjay Awasthiआ.अ.सं/.I.T.A No.4448/Del/2025 िनधा"रणवष"/Assessment Year: 2015-16 बनाम Bsst India Private Limited, Commissioner Of Income Tax D-586, Govind Puram, Vs. (Appeals), Ghaziabad. National Faceless Appeal Centre, Pan No.Aafcb8294F (Nfac), Delhi. अपीलाथ" Appellant ""यथ"/Respondent

Section 2(22)(e)Section 250

…ITA No.4448/Del/2025 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”NEW DELHI BEFORE SHRI MAHAVIR SINGH, HON’BLE VICE PRESIDENT AND SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER आ.अ.सं/.I.T.A No.4448/Del/2025 िनधा"रणवष"/Assessment Year: 2015-16 बनाम BSST INDIA PRIVATE LIMITED, COMMISSIONER OF INCOME TAX D-586, Govind Puram, Vs. (APPEALS), Ghaziabad. NATIONAL FACELESS APPEAL CENTRE, PAN No.AAFCB8294F (NFAC), Delhi. अपीलाथ" Appellant ""यथ"/Respondent Shri S.K. Gupta, CA Assessee by Revenue by Shri Sabyasachi Roy, Sr. DR सुनवाईक"तारीख/ Date of hearing: 18.12.2025 18.12.2025 उ"ोषणाक"तारीख/Pronouncement on आदेश /O R…

THE PR.COMMISSIONER OF INCOME TAX vs. MICROFINISH VALVES PRIVATE LIMITED

The appeals stand disposed off

ITA/100012/2019HC Karnataka29 Jul 2025

Bench: S.SUNIL DUTT YADAV,VIJAYKUMAR A.PATIL

Section 2(22)(e)Section 260Section 260A

…- 1 - HC-KAR NC: 2025:KHC-D:9333-DB ITA No.100009 of 2019 C/W ITA No.100012 of 2019 IN THE HIGH COURT OF KARNATAKA, DHARWAD BENCH DATED THIS THE 29TH DAY OF JULY, 2025 PRESENT THE HON'BLE MR. JUSTICE S.SUNIL DUTT YADAV AND THE HON'BLE MR. JUSTICE VIJAYKUMAR A.PATIL INCOME TAX APPEAL NO. 100009 OF 2019 C/W INCOME TAX APPEAL NO. 100012 OF 2019 IN INCOME TAX APPEAL NO.100009 OF 2019: BETWEEN: 1. THE PRINCIPAL COMMISSIONER OF INCOME TAX, NAVANAGAR, HUBBALLI. 2. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2(1), HUBLI. - APPELLANTS (BY SRI. THIRUMALESH M.M. AND SMT. ROOPA…

THE PR.COMMISSIONER OF INCOME TAX vs. MICROFININSH VALVES PRIVATE LIMITED,

The appeals stand disposed off

ITA/100009/2019HC Karnataka29 Jul 2025

Bench: S.SUNIL DUTT YADAV,VIJAYKUMAR A.PATIL

Section 2(22)(e)Section 260Section 260A

…- 1 - HC-KAR NC: 2025:KHC-D:9333-DB ITA No.100009 of 2019 C/W ITA No.100012 of 2019 IN THE HIGH COURT OF KARNATAKA, DHARWAD BENCH DATED THIS THE 29TH DAY OF JULY, 2025 PRESENT THE HON'BLE MR. JUSTICE S.SUNIL DUTT YADAV AND THE HON'BLE MR. JUSTICE VIJAYKUMAR A.PATIL INCOME TAX APPEAL NO. 100009 OF 2019 C/W INCOME TAX APPEAL NO. 100012 OF 2019 IN INCOME TAX APPEAL NO.100009 OF 2019: BETWEEN: 1. THE PRINCIPAL COMMISSIONER OF INCOME TAX, NAVANAGAR, HUBBALLI. 2. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2(1), HUBLI. - APPELLANTS (BY SRI. THIRUMALESH M.M. AND SMT. ROOPA…

INCOME TAX OFFICER, CHENNAI vs. THE RELIANCE MOTOR COMPANY LTD., CHENNAI

Appeal of the revenue stands partly allowed for statistical purposes

ITA 404/CHNY/2024[1999-00]Status: DisposedITAT Chennai09 Dec 2024AY 1999-00

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita No.404/Chny/2024 (िनधा"रणवष" / Assessment Year: 1999-2000) The Income Tax Officer, Vs. The Reliance Motor Company Ltd, Corporate Ward 3(1) 761, Anna Salai, Chennai. Chennai 600 002. [Pan: Aaact 1230A] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. M. Karthikeyan, Irs, Addl Cit ""यथ" क" ओर से /Respondent By : Shri. R. Vijayaraghavan, Advocate & Shri. S. Nagarajan, C.A. सुनवाई क" तार"ख/Date Of Hearing : 16.10.2024 घोषणा क" तार"ख /Date Of Pronouncement : 09.12.2024 आदेश / O R D E R Per Manu Kumar Giri ()

For Appellant: Shri. M. Karthikeyan, IRS, Addl CITFor Respondent: Shri. R. Vijayaraghavan, Advocate &
Section 143(2)Section 143(3)Section 148Section 2(22)(e)

…आयकर अपीलीय अिधकरण ‘ए’’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" एवं माननीय "ी मनु कुमार िग"र, "ाियक सद" के सम"। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER AND HON’BLE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER आयकरअपील सं./ ITA No.404/Chny/2024 (िनधा"रणवष" / Assessment Year: 1999-2000) The Income Tax Officer, Vs. The Reliance Motor Company Ltd, Corporate Ward 3(1) 761, Anna Salai, Chennai. Chennai 600 002. [PAN: AAACT 1230A] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Shri. M. Karthikeyan, IRS, Addl CIT "…

DCIT, CENTRAL CIRCLE-2(2), CHENNAI vs. M/S.MINAL CONSTRACTORS AND BUILDERS PVT LIT., CHENNAI

In the result, all the appeals filed by the Revenue are dismissed

ITA 646/CHNY/2023[2021-23]Status: DisposedITAT Chennai21 Feb 2024AY 2021-23

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.642/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of Vs. M/S. Mukunda Land Developers Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Income Tax, Central Circle 2(2), Investigation Building, Sai Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aahcp7751K] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.643/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mugilan Structurals Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Vs. Investigation Building, Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aajcm3182D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.644/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mac Quality Builders Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Investigation Building, Nagar, Okkiam Thoraipakkam, Vs. Chennai 34. Chennai 600 097. [Pan:Aaecv8582B] (अपीलाथ"/Appellant) (""थ"/Respondent)

Section 139(1)Section 2(22)(e)

…ed that in the case of CIT v, National Travel Services [2012] 347 ITR 305 (Del), the Hon’ble Delhi Court has taken a contrary view which matter was travelled before the Hon’ble Supreme Court. The Hon’ble Supreme Court in National Travel Services v. CIT [2018] 401 ITR 154 (SC) has referred the matter to the Hon’ble Chief Justice of India in order to constitute a larger bench for reconsideration of the issue whether the shareholder should be both registered and beneficial. The Ld. Counsel relying on the decision of the Mumbai Bench of this Tribunal in Neha Home Builders (P,) Ltd v. DCIT [2018] 98 taxmann.com 465 (M…

DCIT, CENTRAL CIRCLE-2(2), CHENNAI vs. M/S. MEADOW INFRASTRUCTURE PVT LIT., CHENNAI

In the result, all the appeals filed by the Revenue are dismissed

ITA 645/CHNY/2023[2021-22]Status: DisposedITAT Chennai21 Feb 2024AY 2021-22

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.642/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of Vs. M/S. Mukunda Land Developers Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Income Tax, Central Circle 2(2), Investigation Building, Sai Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aahcp7751K] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.643/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mugilan Structurals Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Vs. Investigation Building, Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aajcm3182D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.644/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mac Quality Builders Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Investigation Building, Nagar, Okkiam Thoraipakkam, Vs. Chennai 34. Chennai 600 097. [Pan:Aaecv8582B] (अपीलाथ"/Appellant) (""थ"/Respondent)

Section 139(1)Section 2(22)(e)

…ed that in the case of CIT v, National Travel Services [2012] 347 ITR 305 (Del), the Hon’ble Delhi Court has taken a contrary view which matter was travelled before the Hon’ble Supreme Court. The Hon’ble Supreme Court in National Travel Services v. CIT [2018] 401 ITR 154 (SC) has referred the matter to the Hon’ble Chief Justice of India in order to constitute a larger bench for reconsideration of the issue whether the shareholder should be both registered and beneficial. The Ld. Counsel relying on the decision of the Mumbai Bench of this Tribunal in Neha Home Builders (P,) Ltd v. DCIT [2018] 98 taxmann.com 465 (M…

DCIT, CENTRAL CIRCLE-2(2), CHENNAI vs. M/S.MAC QUALITY BUILDERS PVT LIT., CHENNAI

In the result, all the appeals filed by the Revenue are dismissed

ITA 644/CHNY/2023[2021-22]Status: DisposedITAT Chennai21 Feb 2024AY 2021-22

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.642/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of Vs. M/S. Mukunda Land Developers Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Income Tax, Central Circle 2(2), Investigation Building, Sai Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aahcp7751K] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.643/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mugilan Structurals Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Vs. Investigation Building, Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aajcm3182D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.644/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mac Quality Builders Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Investigation Building, Nagar, Okkiam Thoraipakkam, Vs. Chennai 34. Chennai 600 097. [Pan:Aaecv8582B] (अपीलाथ"/Appellant) (""थ"/Respondent)

Section 139(1)Section 2(22)(e)

…ed that in the case of CIT v, National Travel Services [2012] 347 ITR 305 (Del), the Hon’ble Delhi Court has taken a contrary view which matter was travelled before the Hon’ble Supreme Court. The Hon’ble Supreme Court in National Travel Services v. CIT [2018] 401 ITR 154 (SC) has referred the matter to the Hon’ble Chief Justice of India in order to constitute a larger bench for reconsideration of the issue whether the shareholder should be both registered and beneficial. The Ld. Counsel relying on the decision of the Mumbai Bench of this Tribunal in Neha Home Builders (P,) Ltd v. DCIT [2018] 98 taxmann.com 465 (M…

DCIT, CENTRAL CIRCLE-2(2), CHENNAI vs. M/S. MUKILANSTRUCTURALS PVT LIT., CHENNAI

In the result, all the appeals filed by the Revenue are dismissed

ITA 643/CHNY/2023[2021-22]Status: DisposedITAT Chennai21 Feb 2024AY 2021-22

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.642/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of Vs. M/S. Mukunda Land Developers Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Income Tax, Central Circle 2(2), Investigation Building, Sai Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aahcp7751K] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.643/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mugilan Structurals Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Vs. Investigation Building, Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aajcm3182D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.644/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mac Quality Builders Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Investigation Building, Nagar, Okkiam Thoraipakkam, Vs. Chennai 34. Chennai 600 097. [Pan:Aaecv8582B] (अपीलाथ"/Appellant) (""थ"/Respondent)

Section 139(1)Section 2(22)(e)

…ed that in the case of CIT v, National Travel Services [2012] 347 ITR 305 (Del), the Hon’ble Delhi Court has taken a contrary view which matter was travelled before the Hon’ble Supreme Court. The Hon’ble Supreme Court in National Travel Services v. CIT [2018] 401 ITR 154 (SC) has referred the matter to the Hon’ble Chief Justice of India in order to constitute a larger bench for reconsideration of the issue whether the shareholder should be both registered and beneficial. The Ld. Counsel relying on the decision of the Mumbai Bench of this Tribunal in Neha Home Builders (P,) Ltd v. DCIT [2018] 98 taxmann.com 465 (M…

DCIT, CENTRAL CIRCLE-2(2), CHENNAI vs. M/S. MUKUNDA LAND DEVELOPERS PVT LIT., CHENNAI

In the result, all the appeals filed by the Revenue are dismissed

ITA 642/CHNY/2023[2021-22]Status: DisposedITAT Chennai21 Feb 2024AY 2021-22

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.642/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of Vs. M/S. Mukunda Land Developers Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Income Tax, Central Circle 2(2), Investigation Building, Sai Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aahcp7751K] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.643/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mugilan Structurals Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Vs. Investigation Building, Nagar, Okkiam Thoraipakkam, Chennai 34. Chennai 600 097. [Pan:Aajcm3182D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.644/Chny/2023 िनधा"रण वष"/Assessment Year: 2021-22 The Deputy Commissioner Of M/S. Mac Quality Builders Pvt. Ltd., Plot No. 198, 13Th Cross Street, Sri Sai Income Tax, Central Circle 2(2), Investigation Building, Nagar, Okkiam Thoraipakkam, Vs. Chennai 34. Chennai 600 097. [Pan:Aaecv8582B] (अपीलाथ"/Appellant) (""थ"/Respondent)

Section 139(1)Section 2(22)(e)

…ed that in the case of CIT v, National Travel Services [2012] 347 ITR 305 (Del), the Hon’ble Delhi Court has taken a contrary view which matter was travelled before the Hon’ble Supreme Court. The Hon’ble Supreme Court in National Travel Services v. CIT [2018] 401 ITR 154 (SC) has referred the matter to the Hon’ble Chief Justice of India in order to constitute a larger bench for reconsideration of the issue whether the shareholder should be both registered and beneficial. The Ld. Counsel relying on the decision of the Mumbai Bench of this Tribunal in Neha Home Builders (P,) Ltd v. DCIT [2018] 98 taxmann.com 465 (M…

APEEJAY SURRENDRE MANAGEMENT SERVICES PVT. LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA

In the result both the appeals of the assessee are allowed

ITA 988/KOL/2023[2014-15]Status: DisposedITAT Kolkata19 Feb 2024AY 2014-15

Bench: Shri Sanjay Garg & Shri Girish Agrawal

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Abhijit Kundu, CIT, DR
Section 143(3)Section 2(22)(e)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.987 & 988/Kol/2023 Assessment Years: 2013-14 & 2014-15 Apeejay Surrendra Management DCIT, Circle-8(1), Kolkata. Services Pvt. Ltd. Vs. Apeejay House, 15, Park Street, Kolkata-700016. (PAN: AADCA5000A) (Appellant) (Respondent) Present for: Appellant by : Shri Manish Tiwari, FCA Respondent by : Shri Abhijit Kundu, CIT, DR Hearing concluded on : 13.12.2023 Date of Pronouncement : 19.02.2024 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: Both these captioned appeals fi…

APEEJAY SURRENDRA MANAGEMENT SERVICES PVT. LTD,KOLKATA vs. DCIT,CIRCLE-8(1), KOLKATA

In the result both the appeals of the assessee are allowed

ITA 987/KOL/2023[2013-14]Status: DisposedITAT Kolkata19 Feb 2024AY 2013-14

Bench: Shri Sanjay Garg & Shri Girish Agrawal

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Abhijit Kundu, CIT, DR
Section 143(3)Section 2(22)(e)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.987 & 988/Kol/2023 Assessment Years: 2013-14 & 2014-15 Apeejay Surrendra Management DCIT, Circle-8(1), Kolkata. Services Pvt. Ltd. Vs. Apeejay House, 15, Park Street, Kolkata-700016. (PAN: AADCA5000A) (Appellant) (Respondent) Present for: Appellant by : Shri Manish Tiwari, FCA Respondent by : Shri Abhijit Kundu, CIT, DR Hearing concluded on : 13.12.2023 Date of Pronouncement : 19.02.2024 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: Both these captioned appeals fi…

GLOBAL BUSINESS CONEXXTIONS PVT.LTD.,MADHYA PRADESH vs. ACIT/DCIT-5(3), MUMBAI

ITA 720/MUM/2023[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14
For Appellant: Shri Jitendra SinghFor Respondent: Dr. Kishor Dhule
Section 143(3)Section 147Section 2(22)(e)

…y the Learned Departmental Representative on Circular No. 495 dated 22/09/1987 issued by Central Board of Direct Taxes (CBDT). Further, the Learned Departmental Representative also placed reliance on the following judgments: - National Travel Services Vs CIT: 89 Taxmann.com 332 (SC) - PCIT Vs. Gladder Ceramics Ltd. (Gujarat HC) [(2021) 127 taxmann.com 820] 9. The Learned Departmental Representative supported the order passed by the CIT(A) and filed written submission dated 04/07/2023, in addition of the oral submission made during the course of hearing. The Ld. Departmental Representative also placed reliance on…

ASIP PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

Appeal is allowed for statistical purposes in above terms

ITA 1869/HYD/2018[2013-14]Status: DisposedITAT Hyderabad24 Sept 2021AY 2013-14

Bench: Shri S.S. Godara & Shri Inturi Rama Raoassessment Year: 2013-14

For Appellant: Shri A. Srinivas. ARFor Respondent: Shri Rohit Mujumdar for Srikanth – DR
Section 143(3)Section 2(2)Section 2(22)(e)

…them in entirety. We are informed during the course of hearing that hon’ble apex court itself has referred the instant issue of applicability of the impugned deeming fiction in a case involving common shareholders in National Travel Services Vs. CIT (2018) 2 401 ITR 154 (SC) thereby doubting the correctness of CIT Vs. Ankitech Pvt. Ltd and CIT Vs. Madhur Housing and Development Company (2018) 401 ITR 152 (SC). There is further no quarrel between the parties that the foregoing hon’ble larger bench is yet to decide the instant issue. We therefore deem it appropriate to restore the assessee’s sole substantive griev…

ACIT, NEW DELHI vs. M/S JAKSON LTD.,, NOIDA

The appeal of the Revenue stands dismissed

ITA 1140/DEL/2017[2013-14]Status: DisposedITAT Delhi13 Sept 2021AY 2013-14
Section 132Section 139(1)Section 153ASection 2(22)(e)Section 80I

…eived by the listed share holders of the company and the requirement is of substantial interest of beneficial owners of the shares. The Ld. CIT-DR placed reliance on the judgment of the Hon’ble Apex Court in the case of National Travel Service v. CIT (2018) 401 ITR 154/162 DTR 201 (SC), for the proposition that the moment there is a shareholder, who need not necessarily be a member of the Company on its register, who is the beneficial owner of shares, the section would be attracted without anything more. ACIT vs. M/s Jakson Limited 3.1 On the issue of addition on account of bogus purchase, it was submitted t…

VARDHMAN BUILDTECH PVT. LTD.,DELHI vs. ACIT, CIRCLE- 26(1), NEW DELHI

The appeal of the assessee is allowed with above direction

ITA 4264/DEL/2018[2014-15]Status: DisposedITAT Delhi03 Aug 2021AY 2014-15

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing) Vardhaman Buildtech Pvt. Ltd, Vs. Acit, 814-815, 8Th Floor, Shahpur Tirath Circle-26(1), Singh Tower, Community Center, New Delhi Janakpuri, New Delhi Pan: Aaccv6445M (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Shri Govind Singhal, Sr. DR
Section 143(3)Section 2(22)(e)

…orporate Deposits (ICD) which in any case was outside the preview of Section 2(22)(e). 7. That Ld. CIT (A) was not correct in law to say Ankitech Pvt. Ltd. 340 ITR 14 (Delhi) is now no more good law. Merely because the case of National Travel Services Vs. CIT 401 ITR 154 (SC) the Hon’ble Supreme Court had occasion to refer the decision M/s. Ankitech Pvt. Ltd to larger bench. The SLP is still pending. 8. That currently judgment of Delhi High Court in the case of Ankitech Pvt. Ltd. is prevailing and it is binding upon CIT (A) to accept the same.” 3. The brief facts of the case shows that the assessee is a company…

THE DY. CIT 4(1), INDORE vs. M/S. RYDER TRANS INTERNATIONAL (P) LTD., INDORE

In the result appeal of the Revenue is partly allowed

ITA 720/IND/2019[2012-13]Status: DisposedITAT Indore30 Apr 2021AY 2012-13

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2012-13

Section 139(1)Section 147Section 148Section 2(22)Section 2(22)(e)

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON’BLE MANISH BORAD, ACCOUNTANT MEMBER AND HON’BLE MADHUMITA ROY, JUDICIAL MEMBER Assessment Year 2012-13 DCIT-4(1), : Revenue Indore V/s M/s Ryder Trans International Pvt. Ltd, 402, Shekhar Central, Palasia Sqaure, Indore : Respondent PAN: AADCR5570J Revenue by Shri Harshit Bari, Sr.DR Assessee by S/Shri Asish Goyal & N.D. Patwa, ARs Date of Hearing 07.04.2021 Date of Pronouncement 30.04.2021 O R D E R PER MANISH BORAD, A.M The above captioned appeal filed at the instance of the Revenue for Assessme…

DCIT 3 (2)(2), MUMBAI vs. NEW INDIA MINING CORPORATION PVT. LTD., MUMBAI

In the result, the appeal of the revenue is dismissed

ITA 351/MUM/2019[2014-15]Status: DisposedITAT Mumbai31 Mar 2021AY 2014-15
Section 143(3)Section 2(22)

…ferred the matter to a larger bench for reconsideration keeping the question of law open and thus the matter had not reached finalilty. The reference to larger bench was made by the Hon’ble Apex Court in the case of National Travel Services vs CIT reported in 401 ITR 154 (SC). The ld AR before us tried to distinguish the said case on facts by stating that in that case, the assessee was a partnership firm which had taken a loan of Rs 28.52 crores from M/s Jetair Pvt Ltd. In that company, the assessee firm subscribed to its equity capital in the name of two of its partners. Hence the partners of the firm held the a…

ACIT CORPORATE CIRCLE-6(2), CHENNAI vs. SHRI T PADMAKUMAR, CHENNAI

In the result, the Revenue’s above appeals are dismissed

ITA 2805/CHNY/2019[2012-13]Status: DisposedITAT Chennai02 Jun 2020AY 2012-13

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं/.I.T.A. No. 2685/Chny/2019 "नधा"रण वष"/Assessment Year : 2012-13 Assistant Commissioner Of Income Tax, Shri. Velayuthamsundaramoorthy, Corporate Circle 6(2), Vs. L 604, Metrozone, No. 44, Chennai. Pillaiyarkoil Street, Anna Nagar, Chennai – 600 040. [Pan: Bcfps 5842G] ()*यथ,/Respondent) (अपीलाथ"/Appellant) आयकर अपील सं/.I.T.A. No. 2805/Chny/2019 "नधा"रण वष"/Assessment Year : 2012-13 Shri. T. Padmakumar, Assistant Commissioner Of Income Tax, Vs. R 203, Metrozone, No. 44, Corporate Circle 6(2), Pillayarkoil Street, Chennai. Anna Nagar, Chennai – 600 040. [Pan: Aizpp 5293M] : Shri. A. Sundararajan, Addl. Cit अपीलाथ,क-ओरसे/ Appellant By Shri. M. Karunakaran, Advocate )*यथ,क-ओरसे/Respondent By :

Section 2(22)(e)

…अपील"यअ"धकरण ,’बी’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI "ी धु"वु"आर.एलरे"डी, "या यकसद#यएवं"ी एस जयरामन, लेखा सद#यके सम( BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं/.I.T.A. No. 2685/Chny/2019 "नधा"रण वष"/Assessment Year : 2012-13 Assistant Commissioner of Income Tax, Shri. VelayuthamSundaramoorthy, Corporate Circle 6(2), Vs. L 604, Metrozone, No. 44, Chennai. PillaiyarKoil Street, Anna Nagar, Chennai – 600 040. [PAN: BCFPS 5842G] ()*यथ,/Respondent) (अपीलाथ"/Appellant) आयकर अपील सं/.I.T.A. No. 2805/Chny/2019 "नधा"रण वष"/Assess…

ACIT,CORPORATE CIRCLE-6(2), CHENNAI vs. SHRI VELAYUTHAM SUNDARAMOORTHY, CHENNAI

In the result, the Revenue’s above appeals are dismissed

ITA 2685/CHNY/2019[2012-13]Status: DisposedITAT Chennai02 Jun 2020AY 2012-13

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं/.I.T.A. No. 2685/Chny/2019 "नधा"रण वष"/Assessment Year : 2012-13 Assistant Commissioner Of Income Tax, Shri. Velayuthamsundaramoorthy, Corporate Circle 6(2), Vs. L 604, Metrozone, No. 44, Chennai. Pillaiyarkoil Street, Anna Nagar, Chennai – 600 040. [Pan: Bcfps 5842G] ()*यथ,/Respondent) (अपीलाथ"/Appellant) आयकर अपील सं/.I.T.A. No. 2805/Chny/2019 "नधा"रण वष"/Assessment Year : 2012-13 Shri. T. Padmakumar, Assistant Commissioner Of Income Tax, Vs. R 203, Metrozone, No. 44, Corporate Circle 6(2), Pillayarkoil Street, Chennai. Anna Nagar, Chennai – 600 040. [Pan: Aizpp 5293M] : Shri. A. Sundararajan, Addl. Cit अपीलाथ,क-ओरसे/ Appellant By Shri. M. Karunakaran, Advocate )*यथ,क-ओरसे/Respondent By :

Section 2(22)(e)

…अपील"यअ"धकरण ,’बी’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI "ी धु"वु"आर.एलरे"डी, "या यकसद#यएवं"ी एस जयरामन, लेखा सद#यके सम( BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं/.I.T.A. No. 2685/Chny/2019 "नधा"रण वष"/Assessment Year : 2012-13 Assistant Commissioner of Income Tax, Shri. VelayuthamSundaramoorthy, Corporate Circle 6(2), Vs. L 604, Metrozone, No. 44, Chennai. PillaiyarKoil Street, Anna Nagar, Chennai – 600 040. [PAN: BCFPS 5842G] ()*यथ,/Respondent) (अपीलाथ"/Appellant) आयकर अपील सं/.I.T.A. No. 2805/Chny/2019 "नधा"रण वष"/Assess…

SRINIVASA MACHINE WORKS,CHENNAI vs. ITO, CHENNAI

In the result, the assessee’s appeal for the assessment year

ITA 844/CHNY/2017[2013-14]Status: DisposedITAT Chennai09 Oct 2019AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.Nos.1969 & 3434/Chny/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/Chny/2017 (िनधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(4), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Jcit

For Appellant: Shri T. Banusekar, CAFor Respondent: Shri Clement Ramesh Kumar, JCIT
Section 2(22)(e)Section 80G

…आयकर अपीलीय अिधकरण, ‘सी’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी धु"ु" आर.एल रे"ी, "ाियक सद" एवं "ी एस जयरामन, लेखा सद" के सम" BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.1969 & 3434/CHNY/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/s. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1st Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. PAN: AAQFS2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/CHNY/2017 (…

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National Travel Services v. CIT (401 ITR 154) — Cited in 32 Judgments | BharatTax