Pepsico India Holdings (P) Ltd. v. ACIT

370 ITR 295High Court2015#344 most cited

What is Pepsico India Holdings (P) Ltd. v. ACIT authority for?

Section 153C of the Income-tax Act is invoked only when it is established that seized documents do not belong to the searched person, or if the searched person disclaims them; the satisfaction note must specifically indicate this fact.

249

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

Pepsico India Holdings v. ACIT · Section 153C · Section 153A · Section 132 · seized documents · documents belonging to searched person · satisfaction note · disclaimer of documents · search assessment · undisclosed income

Sections most often in play

Section 143(3)Section 153CSection 1961Section 153ASection 132Section 132(4)Section 131(1A)Section 132(1)
Read the full judgment

Issues it is cited on

section 153c(1)section 132(4a)documents seizedblock periodsatisfaction notesection 132asection 153bsection 153csection 153dsection 153undisclosed incomesection 153a

Judgments citing Pepsico India Holdings (P) Ltd. v. ACIT

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3336/DEL/2017[2007-08]Status: DisposedITAT Delhi17 Sept 2018AY 2007-08

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR
Section 153ASection 68

…Construction (P) Ltd., 399 ITR 262 (Del.) (v). Pepsi Foods Pvt. Ltd. vs. ITO, 367 ITR 112 (Del), SLP dismissed by Supreme Court in Appeal © No. 4659/2015 dated 04.12.2017 M. L. Singhi & Associates (P) Ltd. (vi). M/s. Pepsico India Holding Pvt. Ltd. vs. ACIT, 370 ITR 295 (Del) (vii). CIT vs. Lavanya Land (P) Ltd., 397 ITR 246 (Bom) 4. It was next contended that none of the documents referred to by the Assessing Officer are the material, much less incriminating material, to denote any income or share capital and share premium and therefore, the notice issued u/s. 153C is legally invalid, having been issued without…

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3335/DEL/2017[2006-07]Status: DisposedITAT Delhi17 Sept 2018AY 2006-07

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR
Section 153ASection 68

…Construction (P) Ltd., 399 ITR 262 (Del.) (v). Pepsi Foods Pvt. Ltd. vs. ITO, 367 ITR 112 (Del), SLP dismissed by Supreme Court in Appeal © No. 4659/2015 dated 04.12.2017 M. L. Singhi & Associates (P) Ltd. (vi). M/s. Pepsico India Holding Pvt. Ltd. vs. ACIT, 370 ITR 295 (Del) (vii). CIT vs. Lavanya Land (P) Ltd., 397 ITR 246 (Bom) 4. It was next contended that none of the documents referred to by the Assessing Officer are the material, much less incriminating material, to denote any income or share capital and share premium and therefore, the notice issued u/s. 153C is legally invalid, having been issued without…

Dr. Bharat Ratilal Shah, Ahmedabad vs. Income Tax Officer, Ahmedabad

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 786/AHD/2015[2006-07]Status: DisposedITAT Ahmedabad04 Sept 2018AY 2006-07

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr

For Appellant: Shri Jignesh M. Shah, A.R
Section 143(3)Section 147Section 69

…O] AY 2006-07 - 4 - objection raised by the assessee and could not have framed the re- assessment order without doing so. Similar issue was cropped up again before the Hon’ble Gujarat High Court for its consideration in the case of Arvind Mills Ltd. vs. ACWT 270 ITR 467 & Ors. (Guj.) and recently in MGM Exports vs. DCIT 323 ITR 331 (Guj). Applying the legal position as laid down in GKN Driveshafts (supra), the Hon’ble Jurisdictional High Court held the action of the AO in framing the re-assessment order without first disposing of the preliminary objections raised by the assessee to be unsustainable in law. Accor…

Shri Shailesh S. Patel, Palanpur vs. The Income Tax Officer, Ward-5, Palanpur

In the result, the appeal of the assessee is dismissed

ITA 3063/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad29 Aug 2018AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. No. 3063/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13)

For Appellant: Ms. Aarti Shah, A.R
Section 147Section 148Section 68

…e in ITA No. 3063/Ahd/16 [Shailesh S. Patel vs.ITO] AY 2012-13 - 12 - distinction to the expression ‘belonging to’ the assessee in the light of the decision of the Hon’ble Delhi High Court in the case of Pepsico India Holdings Private Limited vs. ACIT [2015] 370 ITR 295 (Delhi) and the decision of the co-ordinate bench in the case of Smt. S. Sivagamasundari vs. ITO in ITA No.519/Mds/2015 order dated 12.02.2016. Therefore, neither the AO of the searched person formed satisfaction as contemplated under s.153C of the Act nor he could have. Thus, on facts where proceedings under s.153C has not been initiated at the…

Skylark Build, Mumbai vs. Asst CIT Cen Cir 4(2), Mumbai

ITA 4370/MUM/2015[2007-08]Status: DisposedITAT Mumbai29 Aug 2018AY 2007-08

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…el) 145 : (2017) 394 ITR 758 (Del) , after considering the aforementioned three decisions, reiterated the settled legal position as explained in Pepsico India Holdings (P) Ltd. vs. Asstt. CIT & Anr. (2014) 270 CTR (Del) 467 : (2014) 108 DTR (Del) 306 : (2015) 370 ITR 295 (Del) , that for the purpose of initiating proceedings under s. 153C of the Act, the 36 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . seized documents had to be shown to belong to the other person and not merely pertaining to such other person. The chang…

Skylark Build, Mumbai vs. Asst CIT Cen Cir 4(2), Mumbai

ITA 3237/MUM/2015[2008-09]Status: DisposedITAT Mumbai29 Aug 2018AY 2008-09

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…el) 145 : (2017) 394 ITR 758 (Del) , after considering the aforementioned three decisions, reiterated the settled legal position as explained in Pepsico India Holdings (P) Ltd. vs. Asstt. CIT & Anr. (2014) 270 CTR (Del) 467 : (2014) 108 DTR (Del) 306 : (2015) 370 ITR 295 (Del) , that for the purpose of initiating proceedings under s. 153C of the Act, the 36 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . seized documents had to be shown to belong to the other person and not merely pertaining to such other person. The chang…

DCIT Cen Cir 4(2), Mumbai vs. Sudhakar M. Shetty, Mumbai

ITA 2906/MUM/2015[2011-12]Status: DisposedITAT Mumbai29 Aug 2018AY 2011-12

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…el) 145 : (2017) 394 ITR 758 (Del) , after considering the aforementioned three decisions, reiterated the settled legal position as explained in Pepsico India Holdings (P) Ltd. vs. Asstt. CIT & Anr. (2014) 270 CTR (Del) 467 : (2014) 108 DTR (Del) 306 : (2015) 370 ITR 295 (Del) , that for the purpose of initiating proceedings under s. 153C of the Act, the 36 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . seized documents had to be shown to belong to the other person and not merely pertaining to such other person. The chang…

M/S. Dalmia Consolidated Pvt. Ltd., Delhi vs. DCIT, New Delhi

In the result, the appeal of the Assessee is allowed

ITA 2753/DEL/2017[2008-09]Status: DisposedITAT Delhi19 Jul 2018AY 2008-09

Bench: Shri H.S. Sidhu & Shri T.S. Kapoorassessment Year: 2008-09

For Appellant: Sh. Hiren Mehta, CAFor Respondent: Ms. Rachna Singh, CIT(DR)
Section 132(1)Section 142(1)Section 143(2)Section 153ASection 153CSection 68

…sfaction that the documents referred to in the satisfaction note (belong to the appellant company) by completely overlooking and disregarding the proposition of law laid down by the jurisdictional court in the case of Pepsico India Holdings Pvt. Ltd. Vs. ACIT 370 ITR 295(Del). 3. That on the facts and circumstances of the case and in law, the Ld. CIT(A) erred in upholding the validity of assessment order passed under section 153C/143(3) of the Income Tax Act, 1961, rejecting the argument of the appellant that Satisfaction Note recorded is vitiated in law since as expressly held by the jurisdictional court in the…

Commitment Mortality Vision Education Society, Delhi vs. ACIT, Central Circle- 6, New Delhi

In the result, the appeal of the assessee for assessment year

ITA 3981/DEL/2017[2011-12]Status: HeardITAT Delhi29 Jun 2018AY 2011-12

Bench: Sh. Amit Shukla & Sh. O.P. Kant

Section 153C

…153C of the Act that the money, bullion etc. or the books of accounts or documents seized belongs to third party, other than the searched person. 8.3.3 The meaning and scope of the term belong explained by the Hon India Holding Private Limited Vs ACIT (2015), 371 ITR 295 as under: "14. In view of this phrase, it is necessary that before the provisions of Section 153C of the said Act can be invoked, the Assessing Officer of the searched person must be satisfied that the seized material (which includes documents) does not belong to the person referred to in Section 153A (i.e., the searched person). In the Satisfact…

Commitment Mortality Vision Education Society, Delhi vs. ACIT, Central Circle- 6, New Delhi

In the result, the appeal of the assessee for assessment year

ITA 3980/DEL/2017[2007-08]Status: DisposedITAT Delhi29 Jun 2018AY 2007-08

Bench: Sh. Amit Shukla & Sh. O.P. Kant

Section 153C

…153C of the Act that the money, bullion etc. or the books of accounts or documents seized belongs to third party, other than the searched person. 8.3.3 The meaning and scope of the term belong explained by the Hon India Holding Private Limited Vs ACIT (2015), 371 ITR 295 as under: "14. In view of this phrase, it is necessary that before the provisions of Section 153C of the said Act can be invoked, the Assessing Officer of the searched person must be satisfied that the seized material (which includes documents) does not belong to the person referred to in Section 153A (i.e., the searched person). In the Satisfact…

Tycoons Industries Pvt. Ltd., Kolkata vs. D.C.I.T.-CC-Xx, Kolkata

The appeals of the assessee are allowed

ITA 2468/KOL/2013[2008-09]Status: DisposedITAT Kolkata13 Jun 2018AY 2008-09

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & M. Balaganesh, Am]

Section 132(4)Section 143(3)Section 153C

…. and the entries therein clearly established that the documents did not belong to the appellant, invocation of section 153C was untenable. In support of his contention, the learned AR relied on the following decisions: Pepsico India Holding (P) Ltd. vs CIT (370 ITR 295) Vijaybhai N. Chandrani vs ACIT (333 ITR 436) DCIT vs Dhansar Engineering Co. Pvt. Ltd. (ITA 920 – 923/Kol/2013) 9. After having heard the rival submissions and having perused the material on record, we find that the Ld. CIT(A) have extensively reproduced the purported incriminating documents seized in the course of search carried out against N.K…

Tycoons Industries Pvt. Ltd., Kolkata vs. D.C.I.T.-CC-Xx, Kolkata

The appeals of the assessee are allowed

ITA 2467/KOL/2013[2007-08]Status: DisposedITAT Kolkata13 Jun 2018AY 2007-08

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & M. Balaganesh, Am]

Section 132(4)Section 143(3)Section 153C

…. and the entries therein clearly established that the documents did not belong to the appellant, invocation of section 153C was untenable. In support of his contention, the learned AR relied on the following decisions: Pepsico India Holding (P) Ltd. vs CIT (370 ITR 295) Vijaybhai N. Chandrani vs ACIT (333 ITR 436) DCIT vs Dhansar Engineering Co. Pvt. Ltd. (ITA 920 – 923/Kol/2013) 9. After having heard the rival submissions and having perused the material on record, we find that the Ld. CIT(A) have extensively reproduced the purported incriminating documents seized in the course of search carried out against N.K…

Jay Ma Durga Buildtech P. Ltd, Mumbai vs. DCIT Cen Cir 7(3), Mumbai

In the result, the appeal of assessee is allowed

ITA 2720/MUM/2017[2008-09]Status: DisposedITAT Mumbai17 Apr 2018AY 2008-09

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Jay Maa Durga Buildtech The Deputy Commissioner Private Limited (Merged With Of Income Tax, Cc-7(3), Lodha Construction Private Room No. 655, Aayakar Limited) Bhavan, M.K. Road, Vs. 412, Floor-4, 17G Vardhaman Mumbai-400 020 Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai-400 001 Appellant .. Respondent Pan No. Aabcj7826P

For Appellant: Arvind Sandhe, ARFor Respondent: Bhupendra
Section 132Section 143(3)Section 147Section 148Section 153ASection 153CSection 92ASection 92E

…afely said that the incriminating documents belonged to the searched person but somehow related to the assessee as the name of the assessee had figured in the list of persons. The Hon'ble Gujarat High Court in the case of Viiaypyp N. Chandrani vs. ACIT (2011) 333 ITR 436 had the occasion to deal with this legal issue, The Hon'ble High Court analyzing and interpreting the provisions of section 153A, 153B and 153C has held that the provisions of section 153C are quite different from that of section 1588D. The Hon'ble High Court has observed that as per the provisions of section 153C, where the AO is satisfied that…

Kartikeyas Manganese & Iron Ores Private Limited, Bellary vs. DCIT, Bangalore

In the result, the assessee's appeals for Assessment Years 2008-09

ITA 832/BANG/2015[2008-09]Status: DisposedITAT Bangalore10 Apr 2018AY 2008-09

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

For Appellant: Shri K.R. Pradeep, C.AFor Respondent: Shri K.V.Arvind, Standing Counsel for Dept
Section 132Section 143(3)Section 145(3)Section 153ASection 153C

…aterial belongs to Bharat S Ghorpade, the same cannot be the basis for addition in the hands of any other assessee other than Bharat S Ghorpade. cannot be used in the case of the assessee as held in the following caselaws: 1) Vijaybhai N. Chandrani vs. ACIT - 333 ITR 436 - Guj HC (CLPB page 430/431) 2) Hon’ble Bangalore ITAT in Senate vs. DCIT - 181 TTJ 562 (CLPB page 436/446), 3) P.Srinivas Naik vs ACIT - 114 TTJ 856 - ITAT Bangalore (CLPB page 133/136) 4) PCIT vs Vinita Chaurasia - 394 ITR 758 - DEL HC (CLPB page 80/91) Since the department itself has held the material belongs to Bharat S Ghorpade no addition…

Bmm Ispat Limited, Hospet vs. DCIT, Bangalore

In the result, Revenue’s appeal for Assessment Year 2011-12 is dismissed

ITA 779/BANG/2015[2008-09]Status: DisposedITAT Bangalore10 Apr 2018AY 2008-09

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

For Appellant: Shri K.R. Pradeep, C.AFor Respondent: Shri K.V.Arvind, Standing Counsel for Dept
Section 132Section 143(3)Section 153ASection 153DSection 234BSection 234DSection 68

…held before use of the aforesaid material against the assessee. It has been held in the following case laws that unless 153C proceeding is done no assessment can be made based on seized material seized from third parties. 1) Vijaybhai N. Chandrani vs. ACIT - 333 ITR 436 - Guj HC 2) Hon’ble Bangalore ITAT in Senate vs. DCIT - 181 TTJ 562 3) P.Srinivas Naik vs ACIT - 114 TTJ 856 - ITAT Bangalore 4) PCIT vs Vinita Chaurasia - 394 ITR 758 - DEL HC There has been reference to statements on oath from Bharat S Ghorpade , Karthikeya M Ghorpade , Ambika Ghorpade and others. However no copies offering for cross examinati…

Dinesh Kumar Singhi, Bangalore vs. DCIT, Bangalore

In the result, the assessee's appeal for Assessment Year 2011-12 is partly allowed

ITA 699/BANG/2015[2005-06]Status: DisposedITAT Bangalore10 Apr 2018AY 2005-06

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

For Appellant: Shri K.R. Pradeep, C.AFor Respondent: Shri K.V. Arvind, Standing Counsel for Dept
Section 10BSection 132Section 143(3)Section 148Section 153ASection 154

…u/s 153C has been made to consider the aforesaid seized material in the hands of the assessee. In the absence of proceedings u/s 153C no addition can be made in the hands of the assessee as held in the following case laws: 1) Vijaybhai N. Chandrani vs. ACIT - 333 ITR 436 - Guj HC. 2) Hon’ble Bangalore ITAT in Senate vs. DCIT - 181 TTJ 562. 3) P.Srinivas Naik vs ACIT - 114 TTJ 856 - ITAT Bangalore. 4) PCIT vs Vinita Chaurasia - 394 ITR 758 - DEL HC. 5) CIT & Anr vs Arpit Land Pvt Ltd & Anr - 98 CCH 63 - Bom HC. In view of the above, the addition made requires to be deleted in the interest of justice. On the issue…

DCIT CC 3(4) Cen RG 3, Mumbai vs. Jivesh Developers & Properties P. Ltd, Mumbai

In the result, Revenue‟s appeals are dismissed

ITA 5643/MUM/2015[2005-06]Status: DisposedITAT Mumbai28 Mar 2018AY 2005-06

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…proceedings against the respondent assesse‟s do not belong to it. This finding of fact has not been shown to us to be incorrect. Further, the impugned order placed reliance upon a decision of Gujarat High Court in Vjaybhai N. Chandrani Vs. Asstt. CIT, [2011] 333 ITR 436 which records that the condition precedent for issuing notice under Section 153C of the Act is that the document found during search proceedings should belong to assessee to whom notice is issued under Section 153C of the Act. It was fairly pointed out to us by Mr.Mistry, the learned Senior Counsel for the respondent-assessee that the above decis…

ITO 5(2)(2), Mumbai vs. Kranti Impex P.Ltd, Mumbai

Appeal is allowed and that of the Revenue is dismissed

ITA 1229/MUM/2013[2004-05]Status: DisposedITAT Mumbai28 Feb 2018AY 2004-05

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am Income Tax Officer, 5(2)(2) Kranti Impex Pvt. Ltd. Room No. 567, Aayakar 20, Om Darya Mahal, Vs. Bhavan, M.K. Road 80,Nepeansea Road, Mumbai-400 020 Mumbai-400 006 Appellant .. Respondent Pan No. Aacck3044P & Co No. 90/Mum/2014 (Arising In Ita No. 1229/Mum/2013 For A.Y. 2004-05) Kranti Impex Pvt. Ltd. Income Tax Officer, 5(2)(2), 901/A-B-E, 9Th Floor Room No. 567, Aayakar The Legend Co-Op Hsg. Soc. Bhavan, M.K. Road, Vs. Ltd, Plot No. 220, Walkeshwar Mumbai-400 020 Road, Mumbai-400 006 Appellant .. Respondent

For Appellant: Govind Javeri, ARFor Respondent: M.C. Omi Ningshen, DR
Section 132Section 132(4)Section 143(3)Section 153CSection 69

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI MANOJ KUMAR AGGARWAL, AM Income Tax Officer, 5(2)(2) Kranti Impex Pvt. Ltd. Room No. 567, Aayakar 20, Om Darya Mahal, Vs. Bhavan, M.K. Road 80,Nepeansea Road, Mumbai-400 020 Mumbai-400 006 Appellant .. Respondent PAN No. AACCK3044P & CO No. 90/Mum/2014 (Arising in ITA No. 1229/Mum/2013 for A.Y. 2004-05) Kranti Impex Pvt. Ltd. Income Tax Officer, 5(2)(2), 901/A-B-E, 9th Floor Room No. 567, Aayakar The legend co-op Hsg. Soc. Bhavan, M.K. Road, Vs. Ltd, Plot No. 220, Walkeshwar Mumbai-400 020 Road, Mumbai-400 006 Appellant .…

ACIT, New Delhi vs. Shri Ankush Saluja, New Delhi

In the result, appeal of the department stands dismissed

ITA 2047/DEL/2016[2007-08]Status: DisposedITAT Delhi07 Dec 2017AY 2007-08

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: -None-For Respondent: Ms. Rachna Singh, CIT-D.R
Section 132Section 143(3)Section 153ASection 153CSection 68

…al SLP is pending before the Hon’ble High Court is no ground to take a contrary decision against the decision of the jurisdictional Delhi High Court. We may also refer to judgment of Hon’ble Gujrat High Court in the case of Vijay Bhai N. Chandrani vs. ACIT 333 ITR 436 in which it was held as under : 10 ITA.No.2041/Del./2016 Shri Ankush Saluja “Held, Allowing the petition, that admittedly, three loose papers recovered during the course of search proceedings did not belong to the petitioner. It was not the case of the Revenue that three documents were in hand-writing of the petitioner. In the circumstances, w…

M/S. Nova Iron & Steel Ltd., New Delhi vs. DCIT, Ltu, New Delhi

In the result, appeal of the assessee-company is

ITA 2159/DEL/2014[2007-08]Status: DisposedITAT Delhi31 Oct 2017AY 2007-08

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri Ashwanikumar, C.A. &For Respondent: Smt.Shafali Swaroop, CIT-DR &
Section 153CSection 234ASection 68

…risdictional issue, we admit the additional ground for the purpose of hearing and disposal of appeal. 37 ITA.No.2159/Del./2014 M/s. Nova Iron & Steel Ltd., New Delhi. 12.4. The Hon’ble Gujrat High Court in the case of Vijaybhai N. Chandrani vs. ACIT (2011) 333 ITR 436 (Guj.) held as under : “Sections 153A, 153B and 153C of the Income-tax Act, 1961, lay down a scheme for assessment in case of search and requisition. Section 153C which is similarly worded to section 158BD of the Act, provides that where the Assessing Officer is satisfied that any money, bullion, jewellery or other valuable article or thing o…