(Central)-1 v. NRA Iron & Steel (P) Ltd.

103 Taxmann.com 48Supreme Court of India2019#76 most cited

What is (Central)-1 v. NRA Iron & Steel (P) Ltd. authority for?

When assessing cash credits, share capital, or loans, the assessee bears the onus to prove the identity, creditworthiness, and genuineness of transactions. This burden is not discharged merely by documentary evidence if field inquiries reveal accommodation entries or dealings with paper/shell companies.

696

judgments rely on this decision, according to BharatTax’s citation analysis of 371,507 Indian tax judgments — from 2011 to 2026.

Also referred to as

NRA Iron & Steel · (Central)-1 v. NRA Iron & Steel · Section 68 · cash credit · share capital · share application money · unexplained loan · onus of proof · creditworthiness · genuineness of transaction · paper company · shell company · accommodation entries

Sections most often in play

Section 68Section 143(3)Section 147Section 10(38)Section 148Section 69CSection 131Section 133(6)

Issues it is cited on

price riggingbogus share capitalbogus long term capital gainonus of proofpenny stockpaper companypreponderance of probabilitycreditworthiness of the creditorsection 10(38)bogus ltcgshell companysource of source

Judgments citing (Central)-1 v. NRA Iron & Steel (P) Ltd.

DCIT Circle-10(1), New Delhi vs. Ghaziabad Organics Ltd., New Delhi

Appeal is partly allowed for statistical purposes

ITA 5894/DEL/2019[2015-16]Status: DisposedITAT Delhi15 Jul 2026AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2015-16 Vs. Ghaziabad Organics Ltd., Dcit, Circle-10(1), C-73, Malviya Nagar, New Delhi New Delhi Pan: Aaacg6468R (Appellant) (Respondent) Assessee By None Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 26.05.2025 Date Of Pronouncement 26.05.2025 Order

Section 133(6)Section 143(3)Section 41(1)Section 68

…ing of documentary evidence(s) on the assessee’s part, would not absolve it from discharging it’s onus genuineness going by Sumati Dayal Vs. CIT (1995) 214 ITR 801 (SC), CIT Vs. Durga Prasad More (1971) 82 ITR 540 (SC) and PCIT Vs. NRA Iron & Steel Co. (2019) 412 ITR 161 (SC). 8 | P a g e 6. We have given our thoughtful consideration to the Revenue’s and assessee’s respective stand(s) adopted all along. We are of the considered view that the learned CIT(A)’s impugned lower appellate findings have gone by the assessee’s documentary evidences in the nature of confirmation of account, bank statement, income tax retu…

ACIT CC 7(3), Mumbai vs. Nop Properties Private Limited, Mumbai

In the result, the appeal of Revenue is dismissed

ITA 7648/MUM/2025[2012-13]Status: DisposedITAT Mumbai09 Mar 2026AY 2012-13

Bench: Shri Sandeep Gosain & Shri Prabhash Shankarassistant Commissioner Of V/S. Nop Properties Private Income Tax, Central Circle – बनाम Limited 7(3), Room No. 655, 6Th Floor, Office No. Ii-B, Mezzanine Aayakar Bhavan, M.K. Road, Floor, 289 Emca House, Shahid Mumbai – 400 020, Bhagat Singh Road, Fort, Maharashtra Mumbai – 400 001, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcn1799B Appellant/अपीलाथी .. Respondent/प्रतिवादी

For Appellant: Shri Rahul Punmiya, ARFor Respondent: Shri Brajendra Kumar (Sr. DR)
Section 132Section 143(3)Section 147Section 148Section 68

…IN THE INCOME-TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Assistant Commissioner of v/s. NOP Properties Private Income Tax, Central Circle – बनाम Limited 7(3), Room No. 655, 6th Floor, Office No. II-B, Mezzanine Aayakar Bhavan, M.K. Road, Floor, 289 EMCA House, Shahid Mumbai – 400 020, Bhagat Singh Road, Fort, Maharashtra Mumbai – 400 001, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AADCN1799B Appellant/अपीलाथी .. Respondent/प्रतिवादी Assessee by : Shri Rahul Punmiya, AR Revenue by : Shri Brajendra Kumar (Sr. DR) Date…

Rachna Dipesh Laddha, Vadodara vs. Income Tax Officer, Ward 1(3)(2) Vadodara Gujarat, Vadodara

In the result, the appeal of the assessee is dismissed

ITA 1922/AHD/2025[2017-18]Status: DisposedITAT Ahmedabad26 Feb 2026AY 2017-18

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: NoneFor Respondent: Shri Rignesh Das, CIT-DR
Section 142(1)Section 143(2)Section 143(3)Section 69A

…themselves establish the genuineness of a transaction and the assessee is required to prove identity, creditworthiness and genuineness to the satisfaction of the tax authorities, as held by the Hon’ble Supreme Court in PCIT v. NRA Iron & Steel (P) Ltd. (2019) 412 ITR 161 (SC). Similarly, the surrounding circumstances and human probabilities are Rachna Dipesh Laddha vs. ITO Asst.Year –2017-18 - 7– relevant in examining the explanation of the assessee, as laid down by the Hon’ble Supreme Court in Sumati Dayal v. CIT (1995) 214 ITR 801 (SC). Applying these settled principles, we find that the learned CIT(A) has cor…

Mark Steels Limited, Kolkata vs. DCIT, Circle 3(1), Kolkata

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

ITA 2603/KOL/2025[2011-2012]Status: DisposedITAT Kolkata26 Feb 2026AY 2011-2012

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 143(3)Section 147Section 148Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH AT KOLKATA Before SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No(s).: 2603/KOL/2025 Assessment Year(s): 2011-12 Mark Steels Limited DCIT, Circle-3(1), Kolkata Vs. (Appellant) (Respondent) PAN: AACCM8187B Appearances: Assessee represented by : S.K. Tulsiyan Adv. and Lata Goyal, CA. Department represented by : Ruchika Sharma, Sr. DR. Date of concluding the hearing : 15-January-2026 Date of pronouncing the order : 26-February-2026 ORDER PER RAKESH MISHRA, ACCOUNTANT MEMBER: This appeal filed by the assessee is against the orde…

Rajesh Sarda, Nagpur vs. Assistant Commissioner of Income Tax, Central Circle-2(2), Nagpur

In the result, the addition of undisclosed income under section 68 is deleted

ITA 44/NAG/2022[2015-16]Status: DisposedITAT Nagpur24 Feb 2026AY 2015-16

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy(Physical Hearing) Rajesh Sarda, Acit, Central Circle – 2(2), Nagpur 14, Daga Lay–Out, Ambazari Road, Vs Aayakar Bhawan, Civil Lines, Nagpur – 440033. Maharashtra – 440001. [Pan: Ahaps4925M] Appellant / Assessee Respondent / Revenue Assessee By Shri K.P. Dewani, Advocate Revenue By Shri Pankaj Kumar, Cit–Dr Date Of Hearing 16.02.2026 Date Of Pronouncement 24.02.2026 Order Under Section 254(1) Of Income Tax Act

Section 10(38)Section 132Section 153ASection 234ASection 254(1)Section 68Section 69C

…10.2010  B. Kishore Kumar vs DCIT 62 Taxmann 215 (SC) dtd. 02.07.2015  B. Kishore Kumar vs DCIT (Madras HC) dtd. 03.11.2014  PCIT vs Swati Bajaj (Calcutta HC) dtd. 14.06.2022  Suman Poddar vs ITO (2019) ITAT New Delhi  NRA Iron and Steel Pvt. Ltd. vs CIT 412 ITR 161 (SC)  CIT vs Sumati Dayal (1995) 214 ITR 801 (SC)  Durga Prasad More (1971) 82 ITR 540 (SC)  GCT Industries Ltd. vs ACIT 65 ITD 380 ITAT Mumbai Bench  Motilal Padampat Udyog Ltd. vs CIT 293 ITR 565 (Allahabad HC)  Marg Projects and Infrastructure Ltd. vs DCIT (2023) 147 taxmann.com 130 (Madras) 9. In the rejoinder submission, the ld. AR of t…

Prafulla Kumar Malakar, Income Tax Officer, Ward-12(1), Kolkata vs. Kalawati Investments & Trading P Ltd., Kolkata

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

ITA 134/KOL/2025[2015-16]Status: DisposedITAT Kolkata20 Feb 2026AY 2015-16

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 144Section 147Section 148Section 250Section 69

…alue? 8.On the facts and in the circumstances of the case and in law, whether the Ld. CIT(A) has failed to appreciate the principle which has been laid down by the Hon'ble Supreme Court in the case of Pr. CIT(Central)-1, Kolkata vs NRA Iron & Steel Pvt. Ltd. (412 ITR 161) [2020] 117 taxmann.com 752 (SC). 9. The Ld. CIT(A) has erred in facts and in law in ignoring the judicial principles laid down in the matter of Sumati Dayal v. CIT [1995] 214 ITR 801 (SC). 10. The Ld. CIT(A) has erred in facts and in law in not taking cognizance of the judicial principles laid down in CIT Vs. Durga Prasad More 1973 CTR (SC) 500:…

Dy. Commissioner of Income Tax Exemption Circle Nagpur, Nagpur vs. Vidharbha Bahuudeshiya Shikshan Sanstha, Nagpur

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

ITA 789/NAG/2025[2017-18]Status: DisposedITAT Nagpur19 Feb 2026AY 2017-18

Bench: Shri R. K. Pandaassessment Year : 2017-18

For Appellant: Shri Abhishek Kumar, AdvFor Respondent: Shri Surjit Kumar Saha Sr.DR
Section 12ASection 131Section 132Section 142(1)Section 143(2)Section 148Section 148ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH “SMC”, (VIRTUAL : AT PUNE) BEFORE SHRI R. K. PANDA, VICE PRESIDENT Assessment Year : 2017-18 DCIT, Exemption Circle, Vidharbha Bahuudeshiya Shikshan Nagpur Sanstha, Nagpur Vs. Plot No.17, Gayatri Nagar, IT Park Road, Nagpur – 440022, Maharashtra PAN : AAATV9026H (Appellant) (Respondent) Assessee by : Shri Abhishek Kumar, Adv. (through virtual) Department by : Shri Surjit Kumar Saha Sr.DR (through virtual) Date of hearing : 05-02-2026 Date of pronouncement : 19-02-2026 O R D E R PER R. K. PANDA, VP : This appeal filed by the Revenue is directed against the orde…

ACIT CC 7(3), Mumbai vs. Trishul Realty Infra LLP, Mumbai

In the result, the appeal filed by the Revenue and the COs filed by the Assessee stand dismissed

ITA 7649/MUM/2025[2012-13]Status: DisposedITAT Mumbai19 Feb 2026AY 2012-13

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER I.T.A. No. 7649/Mum/2025 A.Y: 2012-13 ACIT- CC 7(3) Vs Trishul Reality Infra LLP Room No. 655, 6th Floor, . Office No.1, 2nd Floor, 3, Aayakar Bhavan, MK Patel Bhuvan, 29, Vijay Road, Wadi, Dr. N.N. Shah Lane, Mumbai-400020 Chira Bazar, Mumbai - 400002 PAN – AADCT0412D (Appellant) (Respondent) CO. No. 33/Mum/2026 (Arising out of ITA No. 7649/Mum/2025) A.Y: 2012-13 Trishul Reality Infra LLP Vs ACIT- CC 7(3) Office No.1, 2nd Floor, 3, Room No. 655, 6th Floor, Patel Bhuva…

Assistant Commissioner of Income Tax, Central Circle Salem vs. Selva Stone Export Private Limited, Krishnagiri

In the result, the appeal filed by the Revenue for assessment year 2018-19 is partly-allowed for statistical purposes

ITA 2051/CHNY/2025[2018-19]Status: DisposedITAT Chennai17 Feb 2026AY 2018-19

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपील सं./Ita Nos.: 2049, 2050 & 2051/Chny/2025 िनधा"रण वष"/Assessment Years: 2013-14, 2015-16 & 2018-19 The Assistant Commissioner Of Selva Stone Export Pvt. Ltd., Income Tax, Vs. No.27-A, Jagadevi Road, Central Circle, Chennai Bye Pass, Salem Krishnagiri – 635 104. Pan: Aarcs 7703E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Bipin C.N, Cit ""यथ" क" ओर से/Respondent By : Shri R. Viswanathan, Ca सुनवाई क" तारीख/Date Of Hearing : 28.01.2026 घोषणा क" तारीख/Date Of Pronouncement : 17.02.2026

For Appellant: Shri Bipin C.N, CITFor Respondent: Shri R. Viswanathan, CA
Section 133ASection 139Section 142Section 143Section 148

…n account of receipt of share application money by holding that the assessee company filed details of the share application money received placing reliance on the decision of the Hon’ble Supreme Court in the case of PCIT vs. NRA Iron & Steel (P.) Ltd., [2019] 412 ITR 161 (SC). Similarly, the Ld.CIT(A) deleted the addition made on account of cost of construction of building of Rs.31,57,00,000/- by holding that the assessee company duly recorded the cost of building in the books of accounts. 5. Being aggrieved by the order of the CIT(A), the Revenue is in appeal before us in the present appeal. The Ld.CIT-DR submi…

Assistant Commissioner of Income Tax, Central Circle Salem vs. Selva Stone Export Private Limited, Krishnagiri

In the result, the appeal filed by the Revenue for assessment year 2018-19 is partly-allowed for statistical purposes

ITA 2050/CHNY/2025[2015-16]Status: DisposedITAT Chennai17 Feb 2026AY 2015-16

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपील सं./Ita Nos.: 2049, 2050 & 2051/Chny/2025 िनधा"रण वष"/Assessment Years: 2013-14, 2015-16 & 2018-19 The Assistant Commissioner Of Selva Stone Export Pvt. Ltd., Income Tax, Vs. No.27-A, Jagadevi Road, Central Circle, Chennai Bye Pass, Salem Krishnagiri – 635 104. Pan: Aarcs 7703E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Bipin C.N, Cit ""यथ" क" ओर से/Respondent By : Shri R. Viswanathan, Ca सुनवाई क" तारीख/Date Of Hearing : 28.01.2026 घोषणा क" तारीख/Date Of Pronouncement : 17.02.2026

For Appellant: Shri Bipin C.N, CITFor Respondent: Shri R. Viswanathan, CA
Section 133ASection 139Section 142Section 143Section 148

…n account of receipt of share application money by holding that the assessee company filed details of the share application money received placing reliance on the decision of the Hon’ble Supreme Court in the case of PCIT vs. NRA Iron & Steel (P.) Ltd., [2019] 412 ITR 161 (SC). Similarly, the Ld.CIT(A) deleted the addition made on account of cost of construction of building of Rs.31,57,00,000/- by holding that the assessee company duly recorded the cost of building in the books of accounts. 5. Being aggrieved by the order of the CIT(A), the Revenue is in appeal before us in the present appeal. The Ld.CIT-DR submi…

Assistant Commissioner of Income Tax, Central Circle Salem vs. Selva Stone Export Private Limited, Krishnagiri

In the result, the appeal filed by the Revenue for assessment year 2018-19 is partly-allowed for statistical purposes

ITA 2049/CHNY/2025[2013-14]Status: DisposedITAT Chennai17 Feb 2026AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपील सं./Ita Nos.: 2049, 2050 & 2051/Chny/2025 िनधा"रण वष"/Assessment Years: 2013-14, 2015-16 & 2018-19 The Assistant Commissioner Of Selva Stone Export Pvt. Ltd., Income Tax, Vs. No.27-A, Jagadevi Road, Central Circle, Chennai Bye Pass, Salem Krishnagiri – 635 104. Pan: Aarcs 7703E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Bipin C.N, Cit ""यथ" क" ओर से/Respondent By : Shri R. Viswanathan, Ca सुनवाई क" तारीख/Date Of Hearing : 28.01.2026 घोषणा क" तारीख/Date Of Pronouncement : 17.02.2026

For Appellant: Shri Bipin C.N, CITFor Respondent: Shri R. Viswanathan, CA
Section 133ASection 139Section 142Section 143Section 148

…n account of receipt of share application money by holding that the assessee company filed details of the share application money received placing reliance on the decision of the Hon’ble Supreme Court in the case of PCIT vs. NRA Iron & Steel (P.) Ltd., [2019] 412 ITR 161 (SC). Similarly, the Ld.CIT(A) deleted the addition made on account of cost of construction of building of Rs.31,57,00,000/- by holding that the assessee company duly recorded the cost of building in the books of accounts. 5. Being aggrieved by the order of the CIT(A), the Revenue is in appeal before us in the present appeal. The Ld.CIT-DR submi…

Hollis Vitrified Private Limited, Morbi, Gujarat, India vs. The Principal Commissioner of Income Tax - 1, Rajkot, Gujarat, India

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

ITA 363/RJT/2024[2018-19]Status: DisposedITAT Rajkot12 Feb 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 363/Rjt/2024 (Assessment Year: 2018-19) (Hybrid Hearing) Hollis Vitrified Pvt. Ltd. Vs. The Pr. Commissioner Of Income Revenue Survey No. 756/P1/P1/P1, Opp. Tax-1, Rajkot Antique Granito, Ghuntu,-Lakhdhirpur Road, Morbi (Gujarat)-363642 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacch5628Q (अपीलाथ"/Appellant) (""थ"/Respondent)

For Appellant: Shri Fenil H. Mehta, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 263Section 68

…आयकर अपीलीय अिधकरण,राजकोट "ायपीठ,राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 363/RJT/2024 (Assessment Year: 2018-19) (Hybrid Hearing) Hollis Vitrified Pvt. Ltd. Vs. The Pr. Commissioner of Income Revenue Survey No. 756/P1/P1/P1, Opp. Tax-1, Rajkot Antique Granito, Ghuntu,-Lakhdhirpur Road, Morbi (Gujarat)-363642 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCH5628Q (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रतीकीओरसे/Assessee by : Shri Fenil H. Mehta, Ld. AR राज"कीओरसे/Revenue by : Shri S…

Shring Construction Company Pvt. Ltd., Dehradun vs. DCIT, Circle-2, Muzaffarnagar

ITA 7057/DEL/2018[2012-13]Status: DisposedITAT Delhi11 Feb 2026AY 2012-13

Bench: Sh. Satbeer Singh Godara & Sh. Naveen Chandraita No. 5226/Del/2016 : Asstt. Year: 2012-13 Ita No. 7057/Del/2018 : Asstt. Year: 2012-13 M/S Shring Construction Company Pvt. Vs Acit/Dcit, Ltd., D-245, Nehru Colony, Haridwar Circle-2, Road, Dehradun Muzaffarnagar (Appellant) (Respondent) Pan No. Aabcr4560L Assessee By : Sh. Ankit Gupta, Adv. Revenue By : Ms. Harpreet Kaur Hansra, Sr. Dr Date Of Hearing: 11.02.2026 Date Of Pronouncement: 11.02.2026 Order Per Satbeer Singh Godara: These Assessee’S Twin Appeals Ita Nos. 5226/Del/2016 &

For Appellant: Sh. Ankit Gupta, AdvFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR
Section 139(1)Section 143(3)Section 271(1)(c)Section 40Section 68

…the lower proceedings. His case before us is that the assessee had filed some supportive evidence to this effect. We quote Sumati Dayal vs. CIT (1995) 214 ITR 801 (SC), CIT Vs. Durga Prasad More (1971) 82 ITR 540 and PCIT vs. NRA Iron & Steel Pvt. Ltd. (2019) 412 ITR 161 that mere filing of such documentary evidence does not ipso facto absolve the assessee from proving the genuineness of it’s impugned cash credits. We thus reject it’s instant latter substantive ground in very terms. This assessee’s “quantum” appeal ITA No. 5226/Del/2016 is partly allowed for statistical purpose. 6. We now advert to the assessee…

M/S Shring Construction Co. Pvt. Ltd., Dehradun vs. ACIT, Muzaffarnagar

ITA 5226/DEL/2016[2012-13]Status: DisposedITAT Delhi11 Feb 2026AY 2012-13

Bench: Sh. Satbeer Singh Godara & Sh. Naveen Chandraita No. 5226/Del/2016 : Asstt. Year: 2012-13 Ita No. 7057/Del/2018 : Asstt. Year: 2012-13 M/S Shring Construction Company Pvt. Vs Acit/Dcit, Ltd., D-245, Nehru Colony, Haridwar Circle-2, Road, Dehradun Muzaffarnagar (Appellant) (Respondent) Pan No. Aabcr4560L Assessee By : Sh. Ankit Gupta, Adv. Revenue By : Ms. Harpreet Kaur Hansra, Sr. Dr Date Of Hearing: 11.02.2026 Date Of Pronouncement: 11.02.2026 Order Per Satbeer Singh Godara: These Assessee’S Twin Appeals Ita Nos. 5226/Del/2016 &

For Appellant: Sh. Ankit Gupta, AdvFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR
Section 139(1)Section 143(3)Section 271(1)(c)Section 40Section 68

…the lower proceedings. His case before us is that the assessee had filed some supportive evidence to this effect. We quote Sumati Dayal vs. CIT (1995) 214 ITR 801 (SC), CIT Vs. Durga Prasad More (1971) 82 ITR 540 and PCIT vs. NRA Iron & Steel Pvt. Ltd. (2019) 412 ITR 161 that mere filing of such documentary evidence does not ipso facto absolve the assessee from proving the genuineness of it’s impugned cash credits. We thus reject it’s instant latter substantive ground in very terms. This assessee’s “quantum” appeal ITA No. 5226/Del/2016 is partly allowed for statistical purpose. 6. We now advert to the assessee…

DCIT - 19(1), Mumbai, Lalbaugh vs. Bharat Ramji Bhai Manek, Grant Road Mumbai

In the result, the appeal of the revenue bearing ITA No

ITA 4339/MUM/2025[2014-15]Status: DisposedITAT Mumbai10 Feb 2026AY 2014-15

Bench: SHRI ANIKESH BANERJEE (Judicial Member), SHRI MAKARAND VASANT MAHADEOKAR (Accountant Member)

For Appellant: Shri Ronak DoshiFor Respondent: Shri Leyaqat Ali Aafaqui, (SR DR)
Section 10(38)Section 143(3)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI MAKARAND VASANT MAHADEOKAR, ACCOUNTANT MEMBER DCIT-19(1), Mumbai vs Bharat Ramji Bhai Manek 506, Piramal Chambers, 6, Ground Floor MotiwalaBldg, 44- Lalbaugh, Mumbai-400012 C, Proctor Road Grant Road, Mumbai-400007 PAN: AACPM3397G APPELLANT RESPONDENT Assessee by : Shri Ronak Doshi, Respondent by : Shri Leyaqat Ali Aafaqui, (SR DR) Date of hearing : 28/01/2026 Date of pronouncement : 10/02/2026 O R D E R Per: Anikesh Banerjee (JM): The instant appeal of the revenue was filed against the order of th…

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Shipra Enclave Pvt Ltd

In the result, the appeal being ITAT 94 of 2025, filed by the Revenue

ITAT/94/2025HC Calcutta04 Feb 2026

Bench: HON'BLE JUSTICE RAJARSHI BHARADWAJ,HON'BLE JUSTICE UDAY KUMAR

For Appellant: Mr. Soumen Bhattacharjee, Ld. AdvFor Respondent: Mr. S.M Surana, Ld. Adv
Section 131Section 133(6)Section 260ASection 68

…IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION ORIGINAL SIDE ITAT 94 OF 2025 IA NO: GA 2 OF 2025 PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA VS M/S SHIPRA ENCLAVE PVT LTD BEFORE: THE HON’BLE JUSTICE RAJARSHI BHARADWAJ AND THE HON’BLE JUSTICE UDAY KUMAR For the Appellant : Mr. Soumen Bhattacharjee, Ld. Adv. Mr. Ankan Das, Ld. Adv. Ms. Shradhya Ghosh, Ld. Adv. For the Respondent : Mr. S.M Surana, Ld. Adv. Mr. Pratyush Jhunjhunwala, Ld. Adv. Ms. Sruti Datta, Ld. Adv. Ms. Sakshi…

DCIT - CC -3(2), Mumbai vs. Mangalkalash Trading Pvt. Ltd., Mumbai

In the result, the appeal of the Revenue is allowed

ITA 576/MUM/2019[2012-13]Status: DisposedITAT Mumbai02 Feb 2026AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: NoneFor Respondent: Mr. Pankaj Kumar, CIT-DR
Section 132Section 132(4)Section 143(1)Section 143(3)Section 153ASection 68Section 69Section 69C

…therein is recorded, is a venture capital fund or a venture capital company as referred to in clause (23-FB) of Section 10. 10. The Supreme Court in the matter of Principal Commissioner of Income Tax (Central-1) Vs. NRA Iron and Steel Private Limited {(2019) 15 SCC 529} has laid down the parameters and the issues which arises for determination whether the respondent assessee has discharged the primary onus to establish the genuineness of the transaction required under Section 68 of the Act, 1961. It primarily laid down that the initial onus is on the assessee to establish proof of identity of the creditors; capa…

Jay Hansraj Chheda, Mumbai vs. Income Tax Officer Ward 19(2)(1), Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 2656/MUM/2024[2015-16]Status: DisposedITAT Mumbai30 Jan 2026AY 2015-16

Bench: Ms. Kavitha Rajagopal, Jm & Shri. Prabhash Shankar, Am Mr. Jay Hansraj Chheda Income Tax Officer Ward 19(2)(1) Room No. 61, 4Th Floor, Vasant Villa, Matru Mandir, Room No. 221, Behnama Hall Lane, Prarthna Samaj, Vs. Tardeo Road, Mumbai – 400007. Mumbai – 400006. Pan/Gir No. Ajlpc9910H (Assessee) (Respondent) : Income Tax Officer Jay Hansraj Chheda Room No. 61, 4Th Floor, Vasant Room No. 502, Piramal Chamber, Lalbaug, Parel, Mumbai – 400012. Vs. Villa, Behnama Hall Lane, Prarthna Samaj, Mumbai – 400006. Pan/Gir No. Ajlpc9910H (Assessee) : (Respondent)

For Appellant: Shri. Manoj Pandit
Section 10(38)Section 143(2)Section 143(3)Section 250Section 68Section 69Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SHRI. PRABHASH SHANKAR, AM Mr. Jay Hansraj Chheda Income Tax Officer Ward 19(2)(1) Room No. 61, 4th Floor, Vasant Villa, Matru Mandir, Room No. 221, Behnama Hall Lane, Prarthna Samaj, Vs. Tardeo Road, Mumbai – 400007. Mumbai – 400006. PAN/GIR No. AJLPC9910H (Assessee) (Respondent) : Income Tax Officer Jay Hansraj Chheda Room No. 61, 4th Floor, Vasant Room No. 502, Piramal Chamber, Lalbaug, Parel, Mumbai – 400012. Vs. Villa, Behnama Hall Lane, Prarthna Samaj, Mumbai – 400006. PAN/GIR No. AJLPC9910H (Assessee) : (Respondent)…

Deputy Commissioner of Income, Central Circle, Meerut vs. Dr. Jagat Narain Subharati Charitable Trust, Dehradun

ITA 2553/DEL/2024[2013-14]Status: DisposedITAT Delhi30 Jan 2026AY 2013-14

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

For Appellant: Sh. Kalrav Mehrotra, AdvFor Respondent: Sh. Rajesh Kumar Dhanesta, Sr
Section 143(3)Section 148Section 68

…P a g e | 1 ITA Nos. 2552 & 2553/Del/2024 Dr. JagatNarainSubharti Charitable Trust (AYs: 2012-13 & 2013-14) IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 2552 & 2553/Del/2024 (Assessment Years: 2012-13 & 2013-14) DCIT, Central Circle Vs. Dr. Jagat Narain Subharti Aaykar Bhawan, Near Charitable Trust Bhainsali Ground, Nand Ki Chowki, Meerut, UP – 250001 AamWala Road, Kotra Santaur, Prem Nagar, Dehradun, Uttarakhand – 248007 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAFTS4572G Appellant .. Respondent Appellant b…

Deputy Commissioner of Income Tax, Central Circle, Meerut, Income Tax Office vs. Dr. Jagar Narain Subharti Charitable Trust, Dehradun

ITA 2552/DEL/2024[2012-13]Status: DisposedITAT Delhi30 Jan 2026AY 2012-13

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

For Appellant: Sh. Kalrav Mehrotra, AdvFor Respondent: Sh. Rajesh Kumar Dhanesta, Sr
Section 143(3)Section 148Section 68

…P a g e | 1 ITA Nos. 2552 & 2553/Del/2024 Dr. JagatNarainSubharti Charitable Trust (AYs: 2012-13 & 2013-14) IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 2552 & 2553/Del/2024 (Assessment Years: 2012-13 & 2013-14) DCIT, Central Circle Vs. Dr. Jagat Narain Subharti Aaykar Bhawan, Near Charitable Trust Bhainsali Ground, Nand Ki Chowki, Meerut, UP – 250001 AamWala Road, Kotra Santaur, Prem Nagar, Dehradun, Uttarakhand – 248007 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAFTS4572G Appellant .. Respondent Appellant b…