PCIT v. Chain House International (P) Ltd.

98 Taxmann.com 47High Court2018#1048 most cited

What is PCIT v. Chain House International (P) Ltd. authority for?

The Assessing Officer cannot arbitrarily reject a share valuation report prepared by an expert using recognized methods like NAV or DCF for the purpose of Section 56(2)(viib) without providing valid reasons to demonstrate its perversity or unreasonableness.

104

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2025.

Also referred to as

PCIT v. Chain House International · 98 Taxmann.com 47 · Section 56(2)(viib) · share premium · valuation of shares · NAV method · DCF method · rejection of valuation report · Assessing Officer · dismissal of SLP · fair market value · investment shares

Sections most often in play

Section 1961Section 1962Section 133(6)Section 142(1) of the Income Tax ActSection 143(1) of the Income Tax ActSection 251(1) of the Income Tax ActSection 271(1)(c) of the Income Tax ActSection 56(2)(viib) of the Income Tax Act

Issues it is cited on

nav methodsection 52(2)dcf methodsection 131(1)(d)section 56(2)(viib)commercial rightssection 60strategic investmentvaluation of sharesshare capital and share premiumsection 52section 56(2)(vii)

Judgments citing PCIT v. Chain House International (P) Ltd.

M/S Ashtech (India) Private Limited, Mumbai City vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Mumbai

ITA 3222/MUM/2023[2013-14]Status: DisposedITAT Mumbai25 Apr 2024AY 2013-14

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

…ed. The appellant has also respect to documentary evidences submitted. The appellant has also relied on the decision i relied on the decision in the case of Pr. CIT v. Chain House International n the case of Pr. CIT v. Chain House International Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are…

M/S Ashtech (India) Private Limited, Mumbai vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Mumbai

ITA 3221/MUM/2023[2015-16]Status: DisposedITAT Mumbai25 Apr 2024AY 2015-16

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

…ed. The appellant has also respect to documentary evidences submitted. The appellant has also relied on the decision i relied on the decision in the case of Pr. CIT v. Chain House International n the case of Pr. CIT v. Chain House International Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are…

M/S Ashtech (India) Private Limited, Mumbai City vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Mumbai

ITA 3220/MUM/2023[2014-15]Status: DisposedITAT Mumbai25 Apr 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

…ed. The appellant has also respect to documentary evidences submitted. The appellant has also relied on the decision i relied on the decision in the case of Pr. CIT v. Chain House International n the case of Pr. CIT v. Chain House International Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are…

Assistant Commissioner of Income Tax Central Circle 1 (4) Mumbai, Pratishtha Bhavan Mumbai vs. Ashtech India Pvt Ltd (E-Filing), Ashtech House Mumbai

ITA 3028/MUM/2023[2018-19]Status: DisposedITAT Mumbai25 Apr 2024AY 2018-19

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

…ed. The appellant has also respect to documentary evidences submitted. The appellant has also relied on the decision i relied on the decision in the case of Pr. CIT v. Chain House International n the case of Pr. CIT v. Chain House International Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are…

Assistant Commissioner of Income Tax Central Circle 1(4) Mumbai, Pratishtha Bhavan Mumbai vs. Ashtech India Pvt Ltd (E-Filing), Ashtech House Mumbai

ITA 3027/MUM/2023[2014-15]Status: DisposedITAT Mumbai25 Apr 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

…ed. The appellant has also respect to documentary evidences submitted. The appellant has also relied on the decision i relied on the decision in the case of Pr. CIT v. Chain House International n the case of Pr. CIT v. Chain House International Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are…

Assistant Commissioner of Income Tax Central Circle 1(4) Mumbai, Pratishtha Bhavan Mumbai vs. Ashtech India Pvt Ltd (E-Filing), Ashtech House

ITA 3026/MUM/2023[2013-14]Status: DisposedITAT Mumbai25 Apr 2024AY 2013-14

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

…ed. The appellant has also respect to documentary evidences submitted. The appellant has also relied on the decision i relied on the decision in the case of Pr. CIT v. Chain House International n the case of Pr. CIT v. Chain House International Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once Pvt Ltd (2018) 174 DTR 97 (MP)(HC)where it is held that once genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are genuineness, creditworthiness and identity of the investors are…

Pingash Marketing Private Limited, Ballabhgarh vs. ITO Ward-2(1), Faridabad

In the result, Appeals in ITA No

ITA 99/DEL/2021[2016-17]Status: DisposedITAT Delhi18 Apr 2024AY 2016-17

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

Section 143(1)Section 251(1)Section 271(1)(c)Section 52(2)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE DR. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No.84/Del/2021, A.Y.2016-17) M/s. Shanta Blankets Pvt. Income Tax Officer, Ltd. Ward 2(3), FBD Plot No. 1043, Vs. CR Building, Near Peir Baba Faridabad, Baba Nagar Haryana-122001 Haryana-121002 PAN : AATCS6356H (Appellant) (Respondent) ITA No.87/Del/2021, A.Y.2016-17) M/s. Zhilmil Electronics Income Tax Officer, Pvt. Ltd. Ward 2(5), FBD Plot No. 1066, Vs. CR Building, Near Janta Barat Ghar, Faridabad, Baba Nagar Haryana-122001 Haryana-121001 PAN : AAACZ…

Gopesh Fabrics Pvt. Ltd., Ballabhgarh vs. ITO Ward-1(3), Faridabad

In the result, Appeals in ITA No

ITA 98/DEL/2021[2016-17]Status: DisposedITAT Delhi18 Apr 2024AY 2016-17

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

Section 143(1)Section 251(1)Section 271(1)(c)Section 52(2)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE DR. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No.84/Del/2021, A.Y.2016-17) M/s. Shanta Blankets Pvt. Income Tax Officer, Ltd. Ward 2(3), FBD Plot No. 1043, Vs. CR Building, Near Peir Baba Faridabad, Baba Nagar Haryana-122001 Haryana-121002 PAN : AATCS6356H (Appellant) (Respondent) ITA No.87/Del/2021, A.Y.2016-17) M/s. Zhilmil Electronics Income Tax Officer, Pvt. Ltd. Ward 2(5), FBD Plot No. 1066, Vs. CR Building, Near Janta Barat Ghar, Faridabad, Baba Nagar Haryana-122001 Haryana-121001 PAN : AAACZ…

Vidhi Cinemas Pvt.Ltd., Haryana vs. ITO Ward-2(5), Faridabad

In the result, Appeals in ITA No

ITA 88/DEL/2021[2016-17]Status: DisposedITAT Delhi18 Apr 2024AY 2016-17

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

Section 143(1)Section 251(1)Section 271(1)(c)Section 52(2)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE DR. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No.84/Del/2021, A.Y.2016-17) M/s. Shanta Blankets Pvt. Income Tax Officer, Ltd. Ward 2(3), FBD Plot No. 1043, Vs. CR Building, Near Peir Baba Faridabad, Baba Nagar Haryana-122001 Haryana-121002 PAN : AATCS6356H (Appellant) (Respondent) ITA No.87/Del/2021, A.Y.2016-17) M/s. Zhilmil Electronics Income Tax Officer, Pvt. Ltd. Ward 2(5), FBD Plot No. 1066, Vs. CR Building, Near Janta Barat Ghar, Faridabad, Baba Nagar Haryana-122001 Haryana-121001 PAN : AAACZ…

Zhilmil Electronics Pvt. Ltd., Haryana vs. ITO Ward-2(5), Faridabad

In the result, Appeals in ITA No

ITA 87/DEL/2021[2016-17]Status: DisposedITAT Delhi18 Apr 2024AY 2016-17

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

Section 143(1)Section 251(1)Section 271(1)(c)Section 52(2)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE DR. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No.84/Del/2021, A.Y.2016-17) M/s. Shanta Blankets Pvt. Income Tax Officer, Ltd. Ward 2(3), FBD Plot No. 1043, Vs. CR Building, Near Peir Baba Faridabad, Baba Nagar Haryana-122001 Haryana-121002 PAN : AATCS6356H (Appellant) (Respondent) ITA No.87/Del/2021, A.Y.2016-17) M/s. Zhilmil Electronics Income Tax Officer, Pvt. Ltd. Ward 2(5), FBD Plot No. 1066, Vs. CR Building, Near Janta Barat Ghar, Faridabad, Baba Nagar Haryana-122001 Haryana-121001 PAN : AAACZ…

Shanta Blankets Pvt. Ltd., Haryana vs. ITO Ward-2(3), Faridabad

In the result, Appeals in ITA No

ITA 84/DEL/2021[2016-17]Status: DisposedITAT Delhi18 Apr 2024AY 2016-17

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

Section 143(1)Section 251(1)Section 271(1)(c)Section 52(2)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE DR. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No.84/Del/2021, A.Y.2016-17) M/s. Shanta Blankets Pvt. Income Tax Officer, Ltd. Ward 2(3), FBD Plot No. 1043, Vs. CR Building, Near Peir Baba Faridabad, Baba Nagar Haryana-122001 Haryana-121002 PAN : AATCS6356H (Appellant) (Respondent) ITA No.87/Del/2021, A.Y.2016-17) M/s. Zhilmil Electronics Income Tax Officer, Pvt. Ltd. Ward 2(5), FBD Plot No. 1066, Vs. CR Building, Near Janta Barat Ghar, Faridabad, Baba Nagar Haryana-122001 Haryana-121001 PAN : AAACZ…

True-Man Consultants Pvt. Ltd., Kolkata vs. ITO, Ward-7(2), Kolkata.

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

ITA 1158/KOL/2023[2012-13]Status: DisposedITAT Kolkata23 Feb 2024AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 131Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 68

…आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्षेत्र) एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 1158/KOL/2023 Assessment Year: 2012-13 True-Man Consultants Pvt. Ltd.................................Appellant [PAN: AAACT 9862 G] Vs. ITO, Ward-7(2), Kolkata.....………….......................Respondent Appearances: Assessee represented by: Sh. V.N. Dube, AR. Department represented by: Sh. Abhijit Kundu, CIT. Date of concluding the…

Vish Realty Solutions Private Limited, Kolkata vs. I.T.O., Ward-5(3), Kolkata

In the result, appeal of the revenue is dismissed

ITA 250/KOL/2020[2012-13]Status: DisposedITAT Kolkata21 Feb 2024AY 2012-13

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 250/Kol/2020 Assessment Year: 2012-13 Vish Realty Solutions Private Limited Income Tax Officer, Ward-5(3), 55, Ezra Street Vs Kolkata 2Nd Floor Kolkata - 700001 [Pan : Aadcv9938N] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S. Jhajharia, A/R Revenue By : Shri Vineet Kumar, Addl. Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 16/01/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/02/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) -10 (Hereinafter The “Ld. Cit(E)”) Dt. 02/12/2019, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. That The Learned Commissioner Of Income Tax (Appeals)-Io, Kolkata Erred In Passing An Order Dated 2Nd Of December, 2019 Under Section 143(3) Of The Income Tax Act, 1961 Dismissing The Appeal Of The Appellant Without Allowing Reasonable Opportunity Of Being Heard. 2. That The Learned Commissioner Of Income Tax (Appeals) - 10, Kolkata Erred In Confirming The Addition Of Share Application Money Ofrs. 5,86,00,000/- Made By The Assessing Officer Under Section 68 Of The Income Tax Act, 1961 On Irrelevant Considerations & Arbitrary Grounds.

For Appellant: Shri S. Jhajharia, A/RFor Respondent: Shri Vineet Kumar, Addl. CIT, D/R
Section 143(2)Section 143(3)Section 14ASection 263Section 68

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE SHRI SANJAY GARG, HON’BLE JUDICIAL MEMBER & DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER I.T.A. No. 250/Kol/2020 Assessment Year: 2012-13 Vish Realty Solutions Private Limited Income Tax Officer, Ward-5(3), 55, Ezra Street Vs Kolkata 2nd Floor Kolkata - 700001 [PAN : AADCV9938N] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri S. Jhajharia, A/R Revenue by : Shri Vineet Kumar, Addl. CIT, D/R सुनवाई क" तारीख/Date of Hearing : 16/01/2024 घोषणा क" तारीख /Date of Pronouncement: 21/02/2024 आदेश/O R D E…

M/S Jr Fiber Glass Industries Pvt Ltd, Mumbai vs. National Faceless Appeal Centre, Mumbai

The appeal is allowed

ITA 2848/MUM/2023[2008-2009]Status: DisposedITAT Mumbai31 Jan 2024AY 2008-2009

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.2848/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2009-10) M/S. Jr Fiber Glass Industries Pvt. Ltd.

For Appellant: Shri Satyaprakash SinghFor Respondent: Ms. Kavitha Kaushik (Sr. AR)
Section 133(6)Section 147Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T.A. No.2848/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2009-10) M/s. JR Fiber Glass Industries Pvt. Ltd. बनाम / National Faceless Appeal Vs. ACIT-Circle-4(3)(1) Centre Room No. 649, M. K. Road, Aayakar Bhavan, Mumbai. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACJ6312K (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) Assessee by: Shri Satyaprakash Singh Revenue by: Ms. Kavitha Kaushik (Sr. AR) सुनवाई की तारीख / Date of Hearing: 24/01/2024 घोषणा की तारीख /Date of Pronouncement: 31/01…

ITO, WD. -4(1), Kolkata vs. Rajshree Integrated Cold Chain Pvt. Ltd., Kolkata

In the result, appeal of the revenue is dismissed

ITA 40/KOL/2021[2012-13]Status: DisposedITAT Kolkata01 Jan 2024AY 2012-13

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2012-13

For Appellant: Shri P. P. Barman, Addl. CIT, Sr. DRFor Respondent: Shri Miraj D. Shah, Advocate
Section 131Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 Income-tax Officer, Ward-4(1), Rajshree Integrated Cold Kolkata. Chain Pvt. Ltd. Vs. 205, Rabindra Sarani, Room No. 149A, 4th Floor, Kolkata- 700007. (PAN:AAFCR6848H) (Appellant) (Respondent) Present for: Appellant by : Shri P. P. Barman, Addl. CIT, Sr. DR Respondent by : Shri Miraj D. Shah, Advocate Date of Hearing : 12.12.2023 Date of Pronouncement : 01.01.2024 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the revenue is aga…

DCIT, Central Circle Ajmer, Ajmer vs. Puja Synthetics Private Limited, Bhilwara

In the result, the appeal of the Revenue is dismissed

ITA 87/JPR/2023[2009-10]Status: DisposedITAT Jaipur09 Nov 2023AY 2009-10

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Mukesh Soni (Adv.)For Respondent: Shri A.S. Nehra (Addl.CIT)
Section 115JSection 153ASection 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 87/JPR/2023 fu/kZkj.k o"kZ@Assessment Years : 2009-10 DCIT, cuke Puja Synthetics Private Limited Vs. Central Circle, A-4, Bhilwara Textile Market, Pur Road, Bhilwara. Ajmer. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAACP 8449 D vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by :Shri Mukesh Soni (Adv.) jktLo dh v…

Barcelona Mercantile Company Private Limited, Mumbai vs. Ward 12(1)(3), Mumbai

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

ITA 2346/MUM/2023[2011-12]Status: DisposedITAT Mumbai23 Oct 2023AY 2011-12

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Sanjay N. KapadiaaFor Respondent: Shri Ashok Kumar Ambastha
Section 143(3)Section 148Section 250Section 68

…Taxmann.com 72] against which revenue’s Special Leave Petition was dismissed by Hon’ble Supreme Court which is reported at 98 Taxmann.com 173. Similar is the decision of Hon’ble High Court of Madhya Pradesh in Pr. CIT V/s Chain House International Pvt. Ltd. [98 Taxmann.com 47] against which revenue’s Special Leave Petition has been dismissed by Hon’ble Supreme Court on 18/02/2019 which is reported at 103 Taxmann.com 435. Similar is the recent decision of Hon’ble Bombay High Court in Pr. CIT V/s Ami Industries (India) Pvt. Ltd. [ITA No. 1231 of 2017, dated 29/01/2020) which has been rendered after considering the…

M/S. Inter Securities Pvt. Ltd., Kolkata vs. ITO, Ward - 7(3), Kolkata

In the result, appeal of the revenue is dismissed

ITA 609/KOL/2018[2012-13]Status: DisposedITAT Kolkata16 Oct 2023AY 2012-13

Bench: Dr. Manish Borad, Hon’Ble & Shri Sanjay Garg, Hon’Blei.T.A. No. 609/Kol/2018 Assessment Year: 2012-13 M/S. Inter Securities Pvt. Ltd. Income Tax Officer, Ward – 7(3), 8, Camac Street Vs Kolkata 8Th Floor Suite No. 807 Kolkata - 700017 [Pan : Aacci 3971M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri V. N. Dubey, Advocate Revenue By : Shri Vijay Kumar, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 14/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 16/10/2023 आदेश/O R D E R Per Dr. Manish Borad: The Above Captioned Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) - 3, (Hereinafter The “Ld. Cit(A)”) Dt. 15/02/2018, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. That The Order Passed By The Ld. Cit(A) Is Bad In Law As Well As In Facts Of The Case. 2. That The Ld. Cit(A) Erred In Law As Well As In Facts Of The Case By Confirming The Addiitons Made By Ld. A.O. Who Treated The Share Application Money Including Premium Of Rs.3,59,00,000/- As Bogus & Added Back The Same To The Total Income Of The Appellant U/S 68 Of The Income Tax Act, 1961. 2

For Appellant: Shri V. N. Dubey, AdvocateFor Respondent: Shri Vijay Kumar, Addl. CIT, Sr. D/R
Section 131Section 143(2)Section 14ASection 250Section 68

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SANJAY GARG, HON’BLE JUDICIAL MEMBER I.T.A. No. 609/Kol/2018 Assessment Year: 2012-13 M/s. Inter Securities Pvt. Ltd. Income Tax Officer, Ward – 7(3), 8, Camac Street Vs Kolkata 8th Floor Suite No. 807 Kolkata - 700017 [PAN : AACCI 3971M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri V. N. Dubey, Advocate Revenue by : Shri Vijay Kumar, Addl. CIT, Sr. D/R सुनवाई क" तारीख/Date of Hearing : 14/09/2023 घोषणा क" तारीख /Date of Pronouncement: 16/10/2…

ACIT, Circle- 14(1)(1), Mumbai vs. M/S. Akshay Infrastructure Pvt. Ltd., Mumbai

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

ITA 2923/MUM/2022[2013-14]Status: DisposedITAT Mumbai04 Sept 2023AY 2013-14

Bench: Shri Br Baskaran & Shir Pavan Kumar Gadaleacit, Circle – 14(1)(1) Vs. M/S.Akshayinfrastructure Room No. 432, Pvt Ltd.102, 4Th Floor, Siddhivinayak Chsl, Aayakar Bhavan, Tilak Nagar, M.K. Road, Chembur, Mumbai- 400020. Mumbai-400089 Pan/Gir No. : Aahca2331A Appellant .. Respondent Assessee By : Mr.Ajaysingh&Yogeshjoijode.Ar Revenue By : Mr.Manoj Kumar.Dr Date Of Hearing 03.07.2023 Date Of Pronouncement 04.09.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi /Cit(A) Mumbai Passed U/Sec 250 Of The Act. The Revenue Has Raised The Fallowing Grounds Of Appeal. 1."On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Deleting The Addition Made By The A.O. Of Rs2,03,00,000/- On Account Of Disallowance U/S 68 Of The Income Tax Act Merely Relying On The Submissions Made By The A.R. Of The Assessee & On The Basis Of

For Appellant: Mr.AjaySingh&YogeshJoijode.ARFor Respondent: Mr.Manoj Kumar.DR
Section 143(2)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, ACCOUNTANT MEMBER & SHIR PAVAN KUMAR GADALE, JUDICIAL MEMBER ACIT, Circle – 14(1)(1) Vs. M/s.AkshayInfrastructure Room No. 432, Pvt Ltd.102, 4th Floor, Siddhivinayak CHSL, Aayakar Bhavan, Tilak Nagar, M.K. Road, Chembur, Mumbai- 400020. Mumbai-400089 PAN/GIR No. : AAHCA2331A Appellant .. Respondent Assessee by : Mr.AjaySingh&YogeshJoijode.AR Revenue by : Mr.Manoj Kumar.DR Date of Hearing 03.07.2023 Date of Pronouncement 04.09.2023 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The revenue has filed the appeal against the order of the…

DCIT, CC-2(4), Kolkata. vs. Narsingh Ispat Limited., Kolkata

In the result, appeal of the revenue is dismissed

ITA 255/KOL/2023[2012-13]Status: DisposedITAT Kolkata26 Jul 2023AY 2012-13

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Ble

For Appellant: Shri S.K. Tulsiyan, Advocate & Ms. PujaFor Respondent: Shri P.P. Barman, Addl. CIT Sr. D/R
Section 131Section 143(2)Section 250Section 68

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA BEFORE SHRI SANJAY GARG, HON’BLE JUDICIAL MEMBER & DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER I.T.A. No. 255/Kol/2023 Assessment Year: 2012-13 DCIT, Central Circle-2(4), Kolkata Narsingh Ispat Limited Vs 15th Floor, Room No. 1512 Diamond Heritage 16, Strand Road Fairley Place Kolkata – 700001 [PAN: AACCN0208J] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri S.K. Tulsiyan, Advocate & Ms. Puja Somani, A/R. Revenue by : Shri P.P. Barman, Addl. CIT Sr. D/R सुनवाई क" तारीख/Date of Hearing : 07/06/2023 घोषणा…