How many judgments cite Pr. CIT v. Ami Industries (India) (P.) Ltd.?

43 judgments on BharatTax cite Pr. CIT v. Ami Industries (India) (P.) Ltd. (116 Taxmann.com 34), spanning 2020 to 2026.

Which sections of the Income Tax Act does Pr. CIT v. Ami Industries (India) (P.) Ltd. come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 133(6), Section 131, Section 142(1), Section 69C.

Pr. CIT v. Ami Industries (India) (P.) Ltd.

116 Taxmann.com 34High Court2020#2784 most cited

What is Pr. CIT v. Ami Industries (India) (P.) Ltd. authority for?

Under Section 68 of the Income-tax Act, the assessee discharges the onus by establishing the identity of the creditor, their creditworthiness, and the genuineness of the transaction, and is not required to exhaustively prove the "source of the source" beyond furnishing primary evidence.

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2020 to 2026.

Also referred to as

Pr. CIT v. Ami Industries · Section 68 · cash credit · onus of proof · identity creditworthiness genuineness · source of source · share capital · share premium · bogus share capital

Also reported as

424 ITR 219271 Taxmann 75

Sections most often in play

Section 68 Section 143(3)Section 133(6)Section 131 Section 142(1)Section 69C Section 133A Section 41(1)

Issues it is cited on

section 131(1)(d)onus of proof nav method source of source share capital and share premium bogus share capital dcf method third party information creditworthiness of the creditor shell company paper company share application money

Judgments citing Pr. CIT v. Ami Industries (India) (P.) Ltd.

MURAD KHETANI,HYDERABAD vs. DCIT., CIRCLE-10(1), HYDERABAD

In the result, the appeal of the assessee is allowed

ITA 1376/HYD/2025[2016-17]Status: DisposedITAT Hyderabad11 Mar 2026AY 2016-17

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON'BLE (Accountant Member)

Section 131Section 142(1)Section 68

…addition made by the A.O. In this regard, the learned counsel for the assessee relied upon certain judicial pronouncements, including the decision of the Hon'ble High Court of Bombay in the case of Principal CIT vs Ami Industries India Private Limited (2020) 424 ITR 219 (Bombay). The assessee had also relied on the decision of the Hon'ble Gujarat High Court in the case of CIT 9 Murad Khetani vs Ayachi Chandrashekhar Narsingji (2014) 221 Taxman 146 (Gujarat), and also the decision of the Hon'ble Delhi High Court in the case of CIT vs Usha Stud Agricultural Farms Ltd. (2009) 283 ITR 77 (Delhi). 7. The learned C…

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…

M/S SAPPHIRE FINTECH PRIVATE LIMITED,MUMBAI vs. DCIT-3(3)(1), MUMBAI

ITA 594/MUM/2023[2012-13]Status: DisposedITAT Mumbai02 Jan 2026AY 2012-13

Bench: Shri Sandeep Singh Karhailshri Prabhash Shankar

For Appellant: Shri Mahaveer Jain, AdvFor Respondent: Shri Swapnil Choudhary, Sr.AR

Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No.594/MUM/2023 (Assessment Year: 2012-13) M/s. Sapphire Fintech Private Limited 6th Floor-1, Plot 165, 161/169 Hirachand Fulchand Trust Building, Perin Nariman Street, Fort, Mumbai - 400001 PAN: AAHCS0312H Appellant v/s Deputy Commissioner of Income Tax 3(3)(1), Room No.609, Aayakar Bhavan, M.K. Road, Mumbai, Mumbai - 400020 Respondent Assessee by : Shri Mahaveer Jain, Adv. Shri Shobit Mishra, Adv. Revenue by: Shri Swapnil Choudhary, Sr.AR Date of Hearing – 17/11/…

JIGNA KUNDAN BHATT,VIRAR vs. DCIT, CENTRAL CIRCLE 1(1), MUMBAI, MUMBAI

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

ITA 5265/MUM/2025[2020-21]Status: DisposedITAT Mumbai29 Dec 2025AY 2020-21

Bench: Smt. Beena Pillai & Shri Makarand Vasant Mahadeokardcit Cen. Cir. 1(1), Jigna Kundan Bhatt R. No. 903, 9Th Floor, Plot No. 277, Kundan Pratistha Bhavan, M. Mansion, Agashi Road, Vs. K. Road, Mumbai- Virar (W), Dist-Thane, 400 020 Thane, Maharashtra- 401303 Pan/Gir No. Afdpb3867Q (Applicant) (Respondent) Assessee By Shri Subhodh Ratnaparkhi, Ld. Ar Revenue By Ms. Kavitha Kaushik, Ld. Dr Date Of Hearing 11.12.2025 Date Of Pronouncement 29.12.2025

Section 132(1)Section 143(3)Section 68Section 69A

…ty of the creditor, creditworthiness and genuineness of the transaction, and once primary evidences are furnished, no addition can be made merely on suspicion:  CIT v. Orissa Corporation (P.) Ltd. (159 ITR 78) (SC)  PCIT v. Ami Industries (India) Pvt. Ltd. (424 ITR 219) (Bom.) 8 Jigna Kundan Bhatt  DCIT v. Rohini Builders (256 ITR 360) (Guj.) 19. It was also pointed out that a similar addition made in the hands of the assessee’s son, in respect of borrowings from the same lender family, stood deleted by the Co-ordinate Bench in the case of Jay Kundan Bhatt v. DCIT, ITA No. 5264/MUM/2025, order dated 03.12.2…

DCIT CC 7(3), MUMBAI vs. M/S OM TRILOK REALTY & INFRASTRUCTURE , MUMBAI

ITA 4048/MUM/2019[2014-15]Status: DisposedITAT Mumbai10 Dec 2025AY 2014-15

Bench: Shree Pawan Singh, Jm & Shri Arun Khodpia, Am Deputy Commissioner M/S Om Trilok Realty & Of Income Tax, Cc-7(3), Infrastructures, Shop No. 6Th Room No. 655, 8, Botawala Building, V Floor, Aayakar Bhavan, 82086, Raghavji Road, S M. K. Road, Mumbai- Gowalia Tank, 400020, Maharashtra Mumbai-400036 Pan No. Aabfo8779M (Appellant) : (Respondent) Assessee By : Shri Rushabh Mehta : Shri R A Dhyani, Cit-Dr Respondent By : 17.09.2025 Date Of Hearing Date Of : 10.12.2025 Pronouncement

For Appellant: Shri Rushabh MehtaFor Respondent: 17.09.2025

Section 131Section 132Section 143(1)Section 143(2)Section 143(3)Section 153A(1)(a)Section 250Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHREE PAWAN SINGH, JM AND SHRI ARUN KHODPIA, AM Deputy Commissioner M/s Om Trilok Realty & of Income Tax, CC-7(3), Infrastructures, Shop No. 6th Room No. 655, 8, Botawala Building, v Floor, Aayakar Bhavan, 82086, Raghavji Road, s M. K. Road, Mumbai- Gowalia Tank, 400020, Maharashtra Mumbai-400036 PAN No. AABFO8779M (Appellant) : (Respondent) Assessee by : Shri Rushabh Mehta : Shri R A Dhyani, CIT-DR Respondent by : 17.09.2025 Date of Hearing Date of : 10.12.2025 Pronouncement O R D E R Per Arun Khodpia, AM: The captioned appeal filed by therevenue is…

JAY KUNDAN BHATT,VIRAR vs. DCIT, CENTRAL CIRCLE 1(1), MUMBAI, MUMBAI

Accordingly, we delete the addition of INR.16,00,000/- made under Section 68 of the Act. Ground No.2 raised by the Assessee, is therefore, allowed

ITA 5264/MUM/2025[2020-21]Status: DisposedITAT Mumbai03 Dec 2025AY 2020-21

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SMT. RENU JAUHRI (Accountant Member)

For Appellant: Shri Subodh RatnaparkhiFor Respondent: Shri B. Arun

Section 143(3)Section 68

…us under Section 68 of the Act. In support reliance was placed by the Learned Authorised Representative for the Assessee on the following decisions (a) CIT vs. Orissa Corporation (P) Ltd., 159 ITR 78 (SC) (1986), (b) PCIT vs. Ami Industries (India) Pvt. Ltd., 424 ITR 219 (Bom) (2020, and (c) DCIT vs. Rohini Builders, 256 ITR 360 (Guj) (2003). 15. Per Contra, the Learned Departmental Representative refuted the submission made on behalf of the Assessee and placed reliance upon the order passed by the Learned CIT(A). It was submitted that a search and seizure action under Section 132(1) of the Act was conducted on…

DY.COMMISSIONER OF INCOME TAX,CC-2,, KANPUR vs. SHRI.MOHAMMAD ASFAND AKHTAR, KANPUR

In the result, the appeal of Revenue in ITA

ITA 144/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)

Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER Assessment Year: 2018-19 DCIT, CC-2 v. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. TAN/PAN: AEMPA0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar v. DCIT, Central Circle-II Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. TAN/PAN: AEMPA0823R (Appel…

MOHD. ASFAND AKHTAR,KANPUR vs. DEPUTI COMMISSIONER OF INCOME TAX CC-2, KANPUR

In the result, the appeal of Revenue in ITA

ITA 139/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)

Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

DY. COMMISSIONER OF INCOME TAX, NOIDA vs. M/S RUDRA BUILDWELL HOMES PVT. LTD, DELHI

ITA 602/DEL/2025[2016]Status: DisposedITAT Delhi29 Aug 2025

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2016-17 Vs. M/S. Rudra Buildwell Homes Dcit, Central Circle-I, Noida Pvt. Ltd., 53, Okhla Phase, Delhi Pan: Aafcr6959P (Appellant) (Respondent) With C.O. No.106/Del/2025 [Arising Out Of Ita No.602/Del/2025] Assessment Year: 2016-17 M/S. Rudra Buildwell Vs. Dcit, Central Circle-I, Homes Pvt. Ltd., Noida A-66, Sector-63, Noida Pan: Aafcr6959P (Appellant) (Respondent) Assessee By Sh. Rohit Kapoor, Adv. Sh. Veersen Agarwal, Itp Department By Sh. Rajesh Chandra, Cit(Dr) Date Of Hearing 12.08.2025 Date Of Pronouncement 29.08.2025 Order Per Satbeer Singh Godara, Jm This Revenue’S Appeal Ita No.602/Del/2025 & Assessee’S Cross Objection C.O. No. 106/Del/2025 For Assessment Year 2016-

Section 143(3)Section 148Section 148ASection 151Section 151(1)Section 151(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Assessment Year: 2016-17 Vs. M/s. Rudra Buildwell Homes DCIT, Central Circle-I, Noida Pvt. Ltd., 53, Okhla Phase, Delhi PAN: AAFCR6959P (Appellant) (Respondent) With C.O. No.106/Del/2025 [Arising out of ITA No.602/Del/2025] Assessment Year: 2016-17 M/s. Rudra Buildwell Vs. DCIT, Central Circle-I, Homes Pvt. Ltd., Noida A-66, Sector-63, Noida PAN: AAFCR6959P (Appellant) (Respondent) Assessee by Sh. Rohit Kapoor, Adv. Sh. Veersen Agarwal, ITP Department by Sh.…

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

In the result appeal of the revenue is dismissed

ITA 188/DEL/2025[2013-14]Status: DisposedITAT Delhi27 Aug 2025AY 2013-14

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

For Appellant: Shri Ved Jain, AdvFor Respondent: Shri Ajay Kumar Arora, Sr. DR

Section 131(1)(d)Section 133(6)Section 143(3)Section 68

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI SUDHIR KUMAR, JUDICIAL MEMBER ITO, Vs. M/s. Novel Infratech, Ward-52(1), Flat No. 915, Indra Prakash New Delhi Building, 21, Barakhamba Road, New Delhi (Appellant) (Respondent) PAN: AAJFN0187A Assessee by : Shri Ved Jain, Adv Ms. Uma Upadhyay, CA Revenue by: Shri Ajay Kumar Arora, Sr. DR Date of Hearing 22/07/2025 Date of pronouncement 27/08/2025 O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.188/Del/2025 for AY 2013-14, arises out of the order of the Commissioner of Income Tax (Appeals)…

BHARAT BENEFICATION & POWER PVT. LTD., RAIGARH,RAIGARH vs. PR.COMMISSIONER OF INCOME TAX (CENTRAL), BHOPAL, BHOPAL

ITA 336/RPR/2025[2018-19]Status: DisposedITAT Raipur07 Aug 2025AY 2018-19

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 336/Rpr/2025 (िनधा"रण वष" Assessment Year: 2018-19)

For Appellant: Shri R. B. Doshi, CAFor Respondent: Shri S. L. Anuragi, CIT-DR

Section 143(3)Section 147Section 263Section 36(1)(va)Section 80G

…11 Bharat Benefication & Power Pvt. Ltd. vs. Pr. Commissioner of Income Tax (Central), Bhopal - Anjani Associates vs ITO, ITA no. 27/RPR/2018 dt. 10.08.2018, relevant findings at para no. 16, last 6 lines. - Pr. CIT vs AMI Industries (India) P. Ltd. (2020) 424 ITR 219 (Born.), relevant observations at para no. 20. -BST Infratech Ltd. Vs DCIT (2023) 199 ITD 6 (Kol.). - Delhi High Court in case of CIT vs. Vrindavan Farms (P) Ltd. (2015) 94 CCH 329 (Del.), relevant finding at para no. 3, 2nd to 4th line. - ITO vs Mis Shree Banke Bihari Infracon Pvt. Ltd., ITA No. 95/RPR/2020 dt. 18.03.2024, relevant findings on p…

ACIT, CIRCLE- 15, NEW DELHI vs. ADHIST GARMENT EXPORT PVT. LTD., NEW DELHI

In the result, appeal of the Revenue is dismissed

ITA 1387/DEL/2018[2008-09]Status: DisposedITAT Delhi25 Jun 2025AY 2008-09

Bench: Shri Challa Nagendra Prasad & Shri S Rifaur Rahmanिनधा"रणवष"/Assessment Year: 2008-09 बनाम Acit, Adhist Garment Export Pvt. Ltd. Central Circle-15, Vs. 48, Todarmal Road, Room No.353, Ara Centre, Bengali Market, New Delhi. Jhandewalan, New Delhi. Pan No. Aafca1526P अपीलाथ" Appellant ""यथ"/Respondent

Section 133Section 133(6)Section 147Section 68

…tablished the “source of the source". In this regard the reliance is placed on the judgement of the Hon'ble High Court of Bombay in CIT v. Gasan deep Infrastructure Pvt. Ltd. T20171 394 ITR 380 (Bombay) and PCIT - 1 v. Ami Industries (India) (P.) Ltd.: [2020] 424 ITR 219 (Bombay), the decision of this Hon’ble Tribunal in A CIT, New Delhi v. Prem Anand. IT A No. 3514 (Delhi) of 2014, the decision of Hon'ble Income Tax Appellant Tribunal, Nagpur Bench, in Deputy Commissioner of Income-tax vs. Mahavir Coal Resources (P.) Ltd. [2025] 170 taxmann.com 671 (Nagpur - Trib.). II. Income is not an indicator of creditworthi…

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 3(1)(1) AHMEDABAD, AHMEDABAD vs. SIDDHI INDUSTRIES LIMITED, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

ITA 1468/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad15 Apr 2025AY 2018-19

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamble

For Appellant: Shri Anil Kshatriya, AR &For Respondent: Shri V. Nandakumar, CIT-DR

Section 143(3)Section 250Section 37(1)Section 68

…e said entities have confirmed the transactions with the assessee, which fact was even confirmed by the Ld. CIT(A) in his appellate order at paragraph No.7.1.8 on page No. 74. Ld. AR argued that the case of Pr. CIT Vs. Ami Industries (India) (P.) Ltd., [2020] 424 ITR 219 (Bom), as referred by the Ld. CIT(A) in his appellate order, is fully applicable in assessee’s case and the Ld. CIT(A) has rightly deleted the additions made by the Assessing Officer as the identity and creditworthiness of lenders and genuineness of unsecured loans transactions have been established with evidence. ACIT Vs. Siddhi Industries Ltd…

DEEPAK COMMUNICATION,GANDHI NAGAR vs. ITO WARD 60(6), NEW DELHI

In the result, appeal of the Revenue is dismissed

ITA 1387/DEL/2024[2017-18]Status: DisposedITAT Delhi17 Feb 2025AY 2017-18

Section 133Section 133(6)Section 147Section 68

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MEERUT, MEERUT vs. SMT. KAMLESH, DELHI

Appeal is dismissed

ITA 2152/DEL/2024[2014-15]Status: DisposedITAT Delhi06 Dec 2024AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2014-15 Dcit, Vs. Smt. Kamlesh, Central Circle, 1402/1403, Vidhyanchal Meerut Tower, Kaushambi, Ghaziabad Pan :Akypk3905E (Appellant) (Respondent) Assessee By Sh. Rohit Agarwal, Ca Department By Ms. Jaya Choudhary, Cit(Dr)

Section 153ASection 56(2)(vi)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘E’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2014-15 DCIT, Vs. Smt. Kamlesh, Central Circle, 1402/1403, Vidhyanchal Meerut Tower, Kaushambi, Ghaziabad PAN :AKYPK3905E (Appellant) (Respondent) Assessee by Sh. Rohit Agarwal, CA Department by Ms. Jaya Choudhary, CIT(DR) Date of hearing 26.11.2024 Date of pronouncement 06.12.2024 ORDER PER SATBEER SINGH GODARA, JM This Revenue’s appeal for assessment year 2014-15, arises against the Commissioner of Income Tax (Appeals)-3 [in short, the “C…

DECPUTY COMMISSION OF INCOME TAX CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. CHIRAG JEWELLERS, KOLKATA

In the result, the appeal of the Revenue is dismissed

ITA 1559/KOL/2024[2014-15]Status: DisposedITAT Kolkata21 Oct 2024AY 2014-15

Bench: Shri Rajpal Yadav & Dr. Manish Boradi.T.A. No. 1559/Kol/2024 Assessment Year: 2014-15 Dcit, Central Circle-3(1) Chirag Jewellers 110, Shantipally, Flat 17A, Rameshwara Mansion, 10/4A Vs Kolkata-700107 Elgin Road, Kolkata-700020 West Bengal [Pan : Aabfc7914L] अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent)

For Appellant: Shri Miraj D. Shah, ARFor Respondent: Shri Subhendu Datta, CIT DR

Section 132Section 143(2)Section 143(3)Section 153ASection 250Section 68Section 69C

…आयकर अपीलीय अधिकरण न्यायपीठ, कोलकाता । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No. 1559/KOL/2024 Assessment Year: 2014-15 DCIT, Central Circle-3(1) Chirag Jewellers 110, Shantipally, Flat 17A, Rameshwara Mansion, 10/4A Vs Kolkata-700107 Elgin Road, Kolkata-700020 West Bengal [PAN : AABFC7914L] अपीलार्थी/ (Appellant) प्रत्‍यर्थी/ (Respondent) Assessee by : Shri Miraj D. Shah, AR Revenue by : Shri Subhendu Datta, CIT DR सुनवाई की तारीख/Date of Hearing : 11.09.2024 घोषणा की तारीख /Date of Pronouncement : 21.10.2…

SAMARTH LIFESTYLE RETAILING PVT. LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

ITA 621/JPR/2024[2011-12]Status: DisposedITAT Jaipur17 Oct 2024AY 2011-12

For Appellant: Shri P. C. Parwal, CAFor Respondent: Shri Sanjay Nargas, Addl. CIT

Section 143(1)Section 143(3)Section 147Section 148Section 68

…आयकर अपीलीय अधिकरण, जयपुर न्यायपीठ, जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,'A' JAIPUR श्री संदीप गोसाई, न्यायिक सदस्य एवं श्री राठौड कमलेश जयंतभाई, लेखा सदस्य के समक्ष BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं./ITA No. 621/JP/2024 निर्धारण वर्ष / Assessment Year : 2011-12 Samarth Lifestyle Retailing Private Limited, 601, 6th Floor, Ganga Heights SB-154, Lal Kothi Tonk Road, Jaipur बनाम Vs. DCIT, Circle-06, Jaipur स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAACV 7598 M अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by : Shri P.…

ACE CABS LIMITED,DELHI vs. ACIT, CIRCLE-1(2), DELHI, C R BUILDING

In the result, appeal filed by the assessee is allowed

ITA 443/DEL/2024[2017-18]Status: DisposedITAT Delhi04 Oct 2024AY 2017-18

Bench: Shri Saktijit Dey, Hon’Ble & Shri S.Rifaur Rahmanace Cabs Limited, Vs. Acit, Circle 1 (2), 562, Silver Oak Lane, Delhi. M.G. Road, Ghitorni, Delhi – 110 030. (Pan : Aaica4494R) (Appellant) (Respondent) Assessee By : Shri Gaurav Jain, Advocate Ms. Bharti Sharma, Advocate Revenue By : Shri Kanv Bali, Sr. Dr Date Of Hearing : 23.07.2024 Date Of Order : 04.10.2024 Order Per S.Rifaur Rahman,Am: 1. This Appeal Has Been Filed By The Assessee Against The Order Of Ld. Commissioner Of Income Tax (Appeals), New Delhi [“Ld. Cit(A)”, For Short]/ National Faceless Appeal Centre (Nfac) Dated 12.12.2023 For The Assessment Year 2017-18. 2. The Assessee Submitted An Application Under Rule 29 Of The Itat Rules For Admitting The Additional Evidences & The Contents Thereof Are Reproduced Below:-

For Appellant: Shri Gaurav Jain, AdvocateFor Respondent: Shri Kanv Bali, Sr. DR

Section 142(1)Section 143(2)

…olders cannot be criteria for disputing creditworthiness of the investor and making addition u/s 68 of the Act. 15.5 We also invite your Honours’ attention to the decision of the Hon’ble Bombay High Court in the case of Ami Industries (India) (P.) Ltd. [2020] 424 ITR 219 (Bombay)[29-01-2020] whereby it has been held that to justify the creditworthiness, it is not necessary that the share application money should be invested out of taxable income only. It may be brought out of borrowed funds. Relevant paras of the decision are reproduced hereinunder: “17. In so far order passed by the Assessing Officer is concerne…

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

ITA 1291/DEL/2022[2018-19]Status: HeardITAT Delhi09 Sept 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

For Appellant: Shri Rohit Jain, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR

Section 143(3)Section 144BSection 144CSection 68

…ine Leasing and Finance Ltd. &Ors: 299 ITR 268 (Del.) affirmed in Lovely Export (P) Ltd.: 319 ITR (St.) 5  CIT v. Dwarkadhish Investment Ltd: 194 Taxman 43 (Del.)  CIT v Antartica Investment (P) Ltd. 262 ITR 493 (Del)  PCIT vs Ami Industries India (P) Ltd: 424 ITR 219 (Bom.)  Orient Trading Co. Limited: 49 ITR 723 (Bom.)  CIT v. Gagandeep Infrastructure (P.) Ltd. – [2017] 80 taxmann.com 272 (Bombay)  CIT v. Vacmet Packaging India (P) Ltd.: 367 ITR 217 (All.)  CIT v. Arunanada Textiles P. Ltd: 333 ITR 116 (Kar)  CIT v. Metachem Industries: 245 ITR 160 (MP)  DCIT v. Rohini Builders: 256 ITR 360 (Guj)  CIT…

SMT CHANDRADEVI GAUTAMCHAND JAIN,MUMBAI vs. THE INCOME TAX OFFICER-30(1)(2), MUMBAI

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

ITA 1104/MUM/2024[2015-16]Status: DisposedITAT Mumbai19 Aug 2024AY 2015-16

Bench: Shri Anikesh Banerjee & Shri Gagan Goyalsmt. Chandra Devi Gautam Chand Jain, Flat No. 1401, Bldg. 5, Raheja Classique Co-Op. Hsg. Soc. Ltd. Behind Infinity Mall, New Link Road, Andheri West, Mumbai-400 053 Pan: Aekpc6743G ..... Appellant Vs. Ito-30(1) (2) Room No. 505, C-505, Pratyaksh Kar Bhavan, Bandra Kurla Complex, Bandra East, Mumbai- 400 051 ..... Respondent

For Appellant: Shri Sanjay Parikh, Ld. ARFor Respondent: Shri H. M. Bhatt, Ld. DR

Section 143(3)Section 250Section 68

…ection 68 of the Act and a major change took place w.e.f. A.Y. 2013-14, hence the same can’t be applied on the facts of the case as the same pertains to the A.Y. 2015-16;  [2020] 121 taxmann.com 86 (Bom.)Gaurav Triyugi Singhvs. ITO 24(3)(1), Mumbai  [2020] 424 ITR 219 (Bom.) PCIT vs. AMI Industries (Industries) Pvt. Ltd. This decision pertains to the A.Y. 2010-11 and there is phenomenal change in law thereafter relating to section 68 of the Act and a major change took place w.e.f. A.Y. 2013-14, hence the same can’t be applied on the facts of the case as the same pertains to the A.Y. 2015-16; 5 Smt. Chandrade…

Showing 1–20 of 43 · Page 1 of 3