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

116 Taxmann.com 34High Court2020#2749 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.

43

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 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 68Section 143(3)Section 133(6)Section 131Section 142(1)Section 69CSection 133ASection 41(1)

Issues it is cited on

section 131(1)(d)onus of proofnav methodsource of sourceshare capital and share premiumbogus share capitaldcf methodthird party informationcreditworthiness of the creditorshell companypaper companyshare application money

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

Bestline Properties Pvt. Ltd, Mumbai vs. ITO-12(1)(3), Mumbai

In the result, the appeal filed by the assessee is

ITA 3500/MUM/2023[2009-10]Status: DisposedITAT Mumbai31 May 2024AY 2009-10

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy S

Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, “B” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA. No. 3500/MUM/2023 (Α.Υ.2009-10) BestlinePropertiesPvtLtd. 301, Hemkunj Society, Liberty Garden, Cross Road.No.2, Malad (W), Mumbai- 400064. Vs. ITO-12(1)(3), Room No145A, 1st Floor, Ayakar Bhavan, M.K.Road, Mumbai-400020. PAN/GIR No. AACCB4394D (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri. Sanjay. N. Kapadia.AR Revenue by Shri. Ashish Kumar.Sr.DR सुनवाई की तारीख/Date of Hearing 30.04.2024 घोषणा की तारीख/Date of Pronouncement 31.05.2024 ORDER PER PAVAN K…

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

In the result, the appeals of the assessee from AY 2013-14 to

ITA 3234/MUM/2023[2016-17]Status: DisposedITAT Mumbai25 Apr 2024AY 2016-17

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

For Appellant: Dr. K. Shivaram &For Respondent: Mr. Manish Sareen, CIT-DR
Section 133ASection 143(3)Section 40

…he Act were already complied by those parties and therefore, the assessee has discharged its onus u/s 68 of the Act. The Ld. counsel further relied on the decision of the jurisdictional high court in the case of PCIT v. Ami Industries (India) Pvt. Ltd. (2020) 424 ITR 219 (Bombay) wherein, the appeal of the Revenue was dismissed for the reason that assessee had furnished the copy of the income-tax return as well as copies of bank account in which the share application money was deposited in order to prove the genuineness of the transaction. The Ld. counsel also relied on the decision of the Hon'ble Jurisdictional…

Income Tax Officer, Ward 2(1), Raipur vs. Mesers Aryan Builders and Developers Private Limited, Raipur

In the result, both appeal of the revenue and cross objection of the assessee stand dismissed in terms of our observations

ITA 201/RPR/2018[2012-13]Status: DisposedITAT Raipur06 Sept 2023AY 2012-13

Bench: SHRI RAVISH SOOD (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

For Appellant: Shri Ramesh Kumar Singhania, CA, &For Respondent: Shri S.K.Meena, CIT-DR
Section 143(2)Section 250(4)Section 68

…15 - of Hon’ble Delhi High Court dt. 12.08.2015. - Anjani Associates vs ITO in ITA No. 27/RPR/2018 dt. 10.08.2018 of Raipur Bench of ITAT. - Prabhatam Investment P. Ltd. vs ACIT. (2017) 49 CCH 299 (Del. Trib.). Pr. CIT vs AMI Industries (India) P. Ltd. (2020) 424 ITR 219 - (Bom.) 9. Burden was on the AO to disprove the legal & cogent evidences. Burden not discharged and so addition could not be made. 10. Although requisite compliance was made by all the investors, even if some of the investor did not respond, no addition could be made only on this account. 11. In ACIT vs R. N. Navnirman Pvt. Ltd. in ITA No. 143/R…

M/S Aadhi Enterprises Private Limited, Chennai vs. ACIT, Central Circle-3(1), Chennai

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

ITA 308/CHNY/2023[2016-17]Status: DisposedITAT Chennai23 Aug 2023AY 2016-17

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.: 308/Chny/2023 िनधा"रण वष"/Assessment Year: 2016-17 Aadhi Enterprises Pvt. Ltd., The Acit, No.1-130, Perambur Barracks V. Central Circle-3(1), Road, Pattalam, Chennai. Chennai – 600 112. Pan: Aanca 0382P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri B. Ramakrishnan, Fca Shri S. Neelakantan, Fca Shri Shrenik Chordia, Ca ""यथ" क" ओर से/Respondent By : Shri S. Senthil Kumaran, Cit सुनवाई क" तारीख/Date Of Hearing : 11.07.2023 घोषणा क" तारीख/Date Of Pronouncement : 23.08.2023

For Appellant: Shri B. Ramakrishnan, FCAFor Respondent: Shri S. Senthil Kumaran, CIT
Section 132Section 139(1)Section 143(2)Section 153ASection 68

…अपीलीय अिधकरण, ‘बी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ीमहावीर "सह, उपा"य" एवं"ी मनोज कुमार अ"वाल, लेखा सद"यके सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 308/CHNY/2023 िनधा"रण वष"/Assessment Year: 2016-17 Aadhi Enterprises Pvt. Ltd., The ACIT, No.1-130, Perambur Barracks v. Central Circle-3(1), Road, Pattalam, Chennai. Chennai – 600 112. PAN: AANCA 0382P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri B. Ramakrishnan, FCA Shri S. Neelakantan, FCA Shri Shrenik Chordia, CA ""यथ…

M/S. Crystal Granite and Marble Private Limited, Ramanagaram vs. Deputy Commissioner of Income-Tax, Circle-2(1)(1), Bangalore

In the result, the appeal of the assessee is allowed for statistical purposes and Stay Petition is dismissed as infructuous

ITA 405/BANG/2023[2017-18]Status: DisposedITAT Bangalore17 Aug 2023AY 2017-18

Bench: Shri George George K & Shri Laxmi Prasad Sahus.P No.29/Bang/2023 Assessment Year: 2017-18

For Appellant: Shri Rajgopal, C.AFor Respondent: Smt. Vidya K, JCIT (DR)
Section 147Section 148Section 148ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER S.P No.29/Bang/2023 Assessment Year: 2017-18 M/s Crystal Granite and Marble The Dy. Commissioner of Pvt. Ltd., Income Tax, 41 KM, Bangalore-Mysore Road, Circle-2(1)(1), Village Madapura, Vs. Bengaluru. Ramanagaram-571 511. PAN No. – AAACC 1661 J APPELLANT RESPONDENT Appellant by : Shri Rajgopal, C.A Respondent by : Smt. Vidya K, JCIT (DR) Date of Hearing : 10.08.2023 Date of Pronouncement : 17.08.2023 O R D E R PER LAXMI PRASAD SAHU, ACCOUNTANT MEMBER: This…

Assistant Commissioner of Income Tax, Circle -1, Bharuch vs. Salya India Private Limited, Bharuch

In the result, the ground No

ITA 438/SRT/2018[2010-11]Status: DisposedITAT Surat23 Jan 2023AY 2010-11

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.438/Srt/2018 (Ay 2010-11) (Hearing In Physical Court) Assistant Commissioner Of Salya India Pvt. Ltd. Income Tax, Circle-1, Ayan Apartment, Limda Vs Bharuch, 1St Floor, Hari Falia, At & P.O Kamboli, Kunj, Income Tax Office, Bharuch Pan No. Aalcs 7799 C Above Bank Of Baroda Building, Station Road, Bharuch अपीलाथ"/Appellant ""यथ" /Respondent

Section 133(6)Section 143(3)Section 254(1)

…nix Lamps (79 ITR 276 Delhi-Trib),  Orrisa Corporation Vs CIT (159 ITR 78-SC),  Daulatram Rawatmal (87 ITR 349-SC),  Rohini Builders Vs CIT (256 ITR 360 Guj),  Gaurav Triyung Singh Vs CIT (243 ITR 531- Bom),  PCIT Vs Ami Industries India Private Limited (424 ITR 219- Bom),  Sarogi Credit Corporation (103 ITR 334-Pat),  H Hastimal (49 ITR 273 Mad),  S C Ghosal ( 106 ITR 344 Cal),  Bedi & Co Private Limited (144 ITR 352 Kar) and  DCIT Vs Mahalaxmi TMT Private Limited (190 ITD 582- Pune-Trib) 24 Salya India Pvt.Ltd. 14. We have considered the rival contention of both the parties and have gone through the…

DCIT- Circle- 1, Thane vs. Darshan Enterprises, Thane

In the result, the both appeals filed by the revenue stands dismissed

ITA 463/MUM/2019[2010-11]Status: DisposedITAT Mumbai13 Jan 2023AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner Of Income Tax M/S Darshan Enterprises Circle-1,6Th Floor, Ashar It Park, 2Nd Floor, Rosa Vista, Vs. B Wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./Pan/Gir No. : Aadfd8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Shashi Tulsian Revenue By: Ms. Mahita Nair, Sr Ar सुनवाईकीतारीख / Date Of Hearing: 26/10/2022 घोषणाकीतारीख /Date Of Pronouncement: 13/01/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Action Of The Ld.Cit(A)-Nashik Dated 5-11-2018 For Ay 2010-11. [One I.E. Ita 462 Is Against The Quantum Deleted By Ld.Cit(A) & Ita 463 Is Against The Penalty U/S 271(1)(C) Of The Income Tax Act, 1961(Hereinafter “The Act”) Deleted By Ld.Cit(A)]. 2. First Of All We Will Take Up The Quantum Appeal Preferred By The Revenue Wherein The Revenue Challenges The Action Of The Ld. Cit(A) To Have Deleted The Addition Made By The Assessing Officer (Hereinafter Referred To As Ao) Under Section 68 Of The Act. 3. Brief Facts Of The Case Are That The Assessee Partnership Firm Had Filed Return Of Income On 22.09.2010 Declaring Income Of Rs. Rs. 1,47,73,191/-. Later The Case For The Relevant Assessment Year Was Selected For Scrutiny & The Ao Noted That

For Appellant: Shri Shashi TulsianFor Respondent: Ms. Mahita Nair, Sr AR
Section 133(6)Section 143(3)Section 271(1)(c)Section 68

…ITA. 462& 463/MUM/2019 AY 2010-11 M/s Darshan Enterprises IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI AMARJIT SINGH, AM आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner of Income Tax M/S Darshan Enterprises Circle-1,6th Floor, Ashar IT Park, 2nd Floor, Rosa Vista, Vs. B wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./PAN/GIR No. : AADFD8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri S…

DCIT- Circle- 1, Thane vs. Darshan Enterprises, Thane

In the result, the both appeals filed by the revenue stands dismissed

ITA 462/MUM/2019[2010-11]Status: DisposedITAT Mumbai13 Jan 2023AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner Of Income Tax M/S Darshan Enterprises Circle-1,6Th Floor, Ashar It Park, 2Nd Floor, Rosa Vista, Vs. B Wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./Pan/Gir No. : Aadfd8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Shashi Tulsian Revenue By: Ms. Mahita Nair, Sr Ar सुनवाईकीतारीख / Date Of Hearing: 26/10/2022 घोषणाकीतारीख /Date Of Pronouncement: 13/01/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Action Of The Ld.Cit(A)-Nashik Dated 5-11-2018 For Ay 2010-11. [One I.E. Ita 462 Is Against The Quantum Deleted By Ld.Cit(A) & Ita 463 Is Against The Penalty U/S 271(1)(C) Of The Income Tax Act, 1961(Hereinafter “The Act”) Deleted By Ld.Cit(A)]. 2. First Of All We Will Take Up The Quantum Appeal Preferred By The Revenue Wherein The Revenue Challenges The Action Of The Ld. Cit(A) To Have Deleted The Addition Made By The Assessing Officer (Hereinafter Referred To As Ao) Under Section 68 Of The Act. 3. Brief Facts Of The Case Are That The Assessee Partnership Firm Had Filed Return Of Income On 22.09.2010 Declaring Income Of Rs. Rs. 1,47,73,191/-. Later The Case For The Relevant Assessment Year Was Selected For Scrutiny & The Ao Noted That

For Appellant: Shri Shashi TulsianFor Respondent: Ms. Mahita Nair, Sr AR
Section 133(6)Section 143(3)Section 271(1)(c)Section 68

…ITA. 462& 463/MUM/2019 AY 2010-11 M/s Darshan Enterprises IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI AMARJIT SINGH, AM आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner of Income Tax M/S Darshan Enterprises Circle-1,6th Floor, Ashar IT Park, 2nd Floor, Rosa Vista, Vs. B wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./PAN/GIR No. : AADFD8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri S…

DCIT Central Circle-2(2), Mumbai vs. M/S Suchir Chemicals Pvt Ltd, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 677/MUM/2022[2010-11]Status: DisposedITAT Mumbai20 Dec 2022AY 2010-11

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit –Central Circle – 2(2) V. M/S. Suchir Chemicals Pvt. Ltd., Old Cgo Building (Amalgamated Company – Manan Pharma Pvt Ltd. W.E.F 01.04.2013) Room No. 806, 8Th Floor 2Nd Floor, Shiv Ashish M.K. Road, Mumbai - 400020 Andheri Prade, Mumbai - 400005 Pan: Aaccm7533K (Appellant) (Respondent) Assessee By : Ms. Pooja Rander & Shri Rushabh Mehta Department By : Shri Manoj Sinha

For Appellant: Ms. Pooja Rander &For Respondent: Shri Manoj Sinha
Section 115JSection 131Section 142(1)Section 143(1)Section 143(2)Section 148Section 68

…N THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “A”, MUMBAI BEFORE SHRI AMIT SHUKLA, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER DCIT –Central Circle – 2(2) v. M/s. Suchir Chemicals Pvt. Ltd., Old CGO Building (Amalgamated Company – Manan Pharma Pvt Ltd. w.e.f 01.04.2013) Room No. 806, 8th Floor 2nd Floor, Shiv Ashish M.K. Road, Mumbai - 400020 Andheri Prade, Mumbai - 400005 PAN: AACCM7533K (Appellant) (Respondent) Assessee by : Ms. Pooja Rander & Shri Rushabh Mehta Department by : Shri Manoj Sinha Date of Hearing : 27.09.2022 Date of Pronouncement : 20.12.2022 O R D E R PER…

ACIT Circle-3(1)(2), Mumbai vs. M/S Chemicon Engineering Consultant Pvt Ltd., Mumbai

In the result, the appeal of the Revenue stands dismissed and the appeal of the assessee is allowed

ITA 833/MUM/2020[2013-14]Status: DisposedITAT Mumbai17 Jun 2022AY 2013-14

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.7907/Mum/2019 (निर्धारण वर्ा / Assessment Year:2013-14) Chemicon Engineering बिधम/ Acit, Circle 3(1)(2) Consultant Pvt. Ltd. Room No.607, Aayakar Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Sakhar Bhawan, Nariman Road, Mumbai-400020. Point, Mumbai-400021. आयकर अपील सं/ I.T.A. No. 833/Mum/2020 (निर्धारण वर्ा / Assessment Year:2013-14) Acit, Circle 3(1)(2) बिधम/ Chemicon Engineering Room No.607, Aayakar Consultant Pvt. Ltd. Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Road, Mumbai-400020. Sakhar Bhawan, Nariman Point, Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacc2686H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Anuj Kisnadwala Revenue By: Shri H. N. Singh (Dr) सुनवाई की तारीख / Date Of Hearing: 11/05/2022 घोषणा की तारीख /Date Of Pronouncement: 17/06/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Assessee & Revenue Respectively Against The Order Of The Ld. Cit(A)-08, Mumbai Dated 29.11.2019 For The A.Y.2013-14. 2. The Grounds Raised By The Both The Parties Are As Follows: Assessee Grounds: - 1. For That On The Facts & Circumstances Of The Case The Orders Passed By The Assessing Officer U/S 143(3) Of The Act, 1961 (The “Act”) & A.Ys.2013-14 Chemicon Engineering That By The Cit(A) U/S 250 Of The Act So Far It Relates To In Confirming Of The Additions To The Extent Of A) Rs. 6,22,05,000/- Received From Certain Companies Out Of Total Rs. 13,13,50,000/- In Respect Of Shares Allotted Against Share Application Money;

For Appellant: Shri Anuj KisnadwalaFor Respondent: Shri H. N. Singh (DR)
Section 143(3)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI GAGAN GOYAL, AM आयकर अपील सं/ I.T.A. No.7907/Mum/2019 (निर्धारण वर्ा / Assessment Year:2013-14) Chemicon Engineering बिधम/ ACIT, Circle 3(1)(2) Consultant Pvt. Ltd. Room No.607, Aayakar Vs. 21 & 22, 2nd Floor, 230, Bhawan, Maharshi Karve Sakhar Bhawan, Nariman Road, Mumbai-400020. Point, Mumbai-400021. आयकर अपील सं/ I.T.A. No. 833/Mum/2020 (निर्धारण वर्ा / Assessment Year:2013-14) ACIT, Circle 3(1)(2) बिधम/ Chemicon Engineering Room No.607, Aayakar Consultant Pvt. Ltd. Vs. 21 & 22, 2nd Floor, 230, Bhawan, Maharshi Karve…

Chemicon Engineering Consultant Pvt Ltd., Mumbai vs. Asst CIT Circle- 3 (1)(2), Mumbai

In the result, the appeal of the Revenue stands dismissed and the appeal of the assessee is allowed

ITA 7907/MUM/2019[2013-14]Status: DisposedITAT Mumbai17 Jun 2022AY 2013-14

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.7907/Mum/2019 (निर्धारण वर्ा / Assessment Year:2013-14) Chemicon Engineering बिधम/ Acit, Circle 3(1)(2) Consultant Pvt. Ltd. Room No.607, Aayakar Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Sakhar Bhawan, Nariman Road, Mumbai-400020. Point, Mumbai-400021. आयकर अपील सं/ I.T.A. No. 833/Mum/2020 (निर्धारण वर्ा / Assessment Year:2013-14) Acit, Circle 3(1)(2) बिधम/ Chemicon Engineering Room No.607, Aayakar Consultant Pvt. Ltd. Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Road, Mumbai-400020. Sakhar Bhawan, Nariman Point, Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacc2686H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Anuj Kisnadwala Revenue By: Shri H. N. Singh (Dr) सुनवाई की तारीख / Date Of Hearing: 11/05/2022 घोषणा की तारीख /Date Of Pronouncement: 17/06/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Assessee & Revenue Respectively Against The Order Of The Ld. Cit(A)-08, Mumbai Dated 29.11.2019 For The A.Y.2013-14. 2. The Grounds Raised By The Both The Parties Are As Follows: Assessee Grounds: - 1. For That On The Facts & Circumstances Of The Case The Orders Passed By The Assessing Officer U/S 143(3) Of The Act, 1961 (The “Act”) & A.Ys.2013-14 Chemicon Engineering That By The Cit(A) U/S 250 Of The Act So Far It Relates To In Confirming Of The Additions To The Extent Of A) Rs. 6,22,05,000/- Received From Certain Companies Out Of Total Rs. 13,13,50,000/- In Respect Of Shares Allotted Against Share Application Money;

For Appellant: Shri Anuj KisnadwalaFor Respondent: Shri H. N. Singh (DR)
Section 143(3)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI GAGAN GOYAL, AM आयकर अपील सं/ I.T.A. No.7907/Mum/2019 (निर्धारण वर्ा / Assessment Year:2013-14) Chemicon Engineering बिधम/ ACIT, Circle 3(1)(2) Consultant Pvt. Ltd. Room No.607, Aayakar Vs. 21 & 22, 2nd Floor, 230, Bhawan, Maharshi Karve Sakhar Bhawan, Nariman Road, Mumbai-400020. Point, Mumbai-400021. आयकर अपील सं/ I.T.A. No. 833/Mum/2020 (निर्धारण वर्ा / Assessment Year:2013-14) ACIT, Circle 3(1)(2) बिधम/ Chemicon Engineering Room No.607, Aayakar Consultant Pvt. Ltd. Vs. 21 & 22, 2nd Floor, 230, Bhawan, Maharshi Karve…

Sejal Jewellers Pvt. Ltd., Surat vs. The Income Tax Officer, Ward-2(1)(2), Surat

In the result, appeal of the assessee is allowed

ITA 435/AHD/2017[2012-13]Status: DisposedITAT Surat28 Feb 2022AY 2012-13

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.435/Ahd/2017 (िनधा"रणवष" / Assessment Year: (2012-13) (Virtual Court Hearing) Sejal Jewellers Pvt. Ltd, Income Tax Officer, Ward-2(1)(2), V Ug-4/5 Rangila Park, Ghod Dod Surat, Aaykar Bhavan, Majura Gate, S. Road, Surat-395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqcs 8686 P (Appellant ) (Respondent)

For Appellant: Shri Rasesh Shah, CAFor Respondent: Shri H.P. Meena– CIT-DR
Section 131Section 131(1)(d)Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRIPAWAN SINGH, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.435/AHD/2017 (िनधा"रणवष" / Assessment Year: (2012-13) (Virtual Court Hearing) Sejal Jewellers Pvt. Ltd, Income Tax Officer, Ward-2(1)(2), V UG-4/5 Rangila Park, Ghod Dod Surat, Aaykar Bhavan, Majura Gate, s. Road, Surat-395007 Surat "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQCS 8686 P (Appellant ) (Respondent) Assessee by :Shri Rasesh Shah, CA Respondent by :Shri H.P. Meena– CIT-DR सुनवाईकीतारीख/ Date of Hearing : 21/01/2022 घोषणाकीतारीख/Date of Pronouncement : 28/02/2022 आदेश / O R D E R PER DR…

ITO Ward-4(1)(4), Ahmedabad vs. Valley Comtrade Pvt Ltd ( Earlier Known As Jhawar Comtrade Pvt. Ltd., Ahmedabad

In the result appeal of the Revenue is dismissed

ITA 2034/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad28 Feb 2022AY 2012-13

Bench: Shri Waseem Ahmed & Shri Siddharatha Nautiyalआयकर अपील सं./Ita No. 2034/Ahd/2017 िनधा"रण वष"/Asstt. Year:2012-2013 I.T.O, M/S. Valley Comtrade Pvt. Ltd., Ward-4(1)(4), Vs. (Earlier Known As Jhawar Comtrade Ahmedabad. Pvt. Ltd.,) C-205, Titanium Square, Near Parsoli Bmw Showroom, Thaltej Chokdi, Ahmedabad-380054. Pan: Aadcs3553N & आयकर अपील सं./Ita No. 68/Srt/2017 िनधा"रण वष"/Asstt. Year:2012-2013 M/S. Valley Comtrade Pvt. Ltd., I.T.O, (Earlier Known As Jhawar Comtrade Vs. Ward-1(1)(3), Pvt. Ltd.,) Surat. C-205, Titanium Square, Near Parsoli Bmw Showroom, Thaltej Chokdi, Ahmedabad-380054. Pan: Aadcs3553N

For Appellant: Shri Aseem L. Thakkar, A.RFor Respondent: Shri Vijaykumar Jaiswal, CIT. D.R with Shri S.S. Shukla, Sr.D.R
Section 13(1)(d)Section 68

…teel (supra) has deleted the addition made by the AO under the provisions of section 68 of the Act. In this connection we draw support and guidance form the judgment of Hon’ble Bombay High Court in case of PCIT vs. Ami Industries (India) (P.) Ltd. reported in 424 ITR 219 where it was held as under: 21. From the above, it is seen that identity of the creditors were not in doubt. Assessee had furnished PAN, copies of the income tax returns of the creditors as well as copy of bank accounts of the three creditors in which the share application money was deposited in order to prove genuineness of the transactions. In…

JUDGEMENTopens in new window

ITA/73/2021HC Delhi19 Jan 2022
Section 260A

…ITA No.68/2021 & connected matters Page 1 of 53 $~J-2 to 7 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on 09.08.2021 Judgment pronounced on 19.01.2022 + ITA 68/2021 & CM No. 9319/2021 PR. COMMISSIONER OF INCOME TAX (CENTRAL)- 3, NEW DELHI ......Appellant Through: Mr Ajit Sharma, Sr. Standing Counsel. versus M/S AGSON GLOBAL PVT. LTD. .....Respondent Through: Mr Mukul Rohatgi and Mr Sandeep Sethi, Senior Advs. with Mr Mahesh…

JUDGEMENTopens in new window

ITA/71/2021HC Delhi19 Jan 2022
Section 260A

…ITA No.68/2021 & connected matters Page 1 of 53 $~J-2 to 7 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on 09.08.2021 Judgment pronounced on 19.01.2022 + ITA 68/2021 & CM No. 9319/2021 PR. COMMISSIONER OF INCOME TAX (CENTRAL)- 3, NEW DELHI ......Appellant Through: Mr Ajit Sharma, Sr. Standing Counsel. versus M/S AGSON GLOBAL PVT. LTD. .....Respondent Through: Mr Mukul Rohatgi and Mr Sandeep Sethi, Senior Advs. with Mr Mahesh…

JUDGEMENTopens in new window

ITA/69/2021HC Delhi19 Jan 2022
Section 260A

…ITA No.68/2021 & connected matters Page 1 of 53 $~J-2 to 7 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on 09.08.2021 Judgment pronounced on 19.01.2022 + ITA 68/2021 & CM No. 9319/2021 PR. COMMISSIONER OF INCOME TAX (CENTRAL)- 3, NEW DELHI ......Appellant Through: Mr Ajit Sharma, Sr. Standing Counsel. versus M/S AGSON GLOBAL PVT. LTD. .....Respondent Through: Mr Mukul Rohatgi and Mr Sandeep Sethi, Senior Advs. with Mr Mahesh…

JUDGEMENTopens in new window

ITA/68/2021HC Delhi19 Jan 2022
Section 260A

…ITA No.68/2021 & connected matters Page 1 of 53 $~J-2 to 7 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on 09.08.2021 Judgment pronounced on 19.01.2022 + ITA 68/2021 & CM No. 9319/2021 PR. COMMISSIONER OF INCOME TAX (CENTRAL)- 3, NEW DELHI ......Appellant Through: Mr Ajit Sharma, Sr. Standing Counsel. versus M/S AGSON GLOBAL PVT. LTD. .....Respondent Through: Mr Mukul Rohatgi and Mr Sandeep Sethi, Senior Advs. with Mr Mahesh…

Intellectual Securites Pvt. Ltd., Delhi vs. DCIT, CC, Noida

In the result, the appeal of the assessee is allowed

ITA 1031/DEL/2021[2010-11]Status: DisposedITAT Delhi12 Jan 2022AY 2010-11

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing)

For Appellant: Sh. Rajiv Khandelwal, CA &For Respondent: Ms. Deepshikha Sharma, CIT DR
Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 1031/Del/2021 : Asstt. Year : 2010-11 Intellectual Securities Pvt. Ltd., Vs DCIT, Corporate Office-505, Pragati Deep Central Circle, Building, District Centre, Laxmi Nagar, Noida New Delhi-110092 (APPELLANT) (RESPONDENT) PAN No. AABCI7610J Assessee by : Sh. Rajiv Khandelwal, CA & Sh. Neelkanth Khandelwal, Adv. Revenue by : Ms. Deepshikha Sharma, CIT DR Date of Hearing: 11.11.2021 Date of Pronouncement: 12.01.2022 ORDER Per Dr. B. R. R…

M/S Indiaon Time Express Pvt Ltd, Bangalore vs. The Assistant Commissioner of Income Tax Circle-3(1)(1), Bangalore

In the result appeal filed by assessee stands partly allowed

ITA 3444/BANG/2018[2013-14]Status: DisposedITAT Bangalore11 Oct 2021AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2013-14 M/S. Indiaon Time Express Pvt. Ltd., The Assistant A1, Samhita Ritz, Commissioner Of Nagavarapalya, Income Tax, Cv Raman Nagar, Circle – 3 [1][1], Bangalore – 560 093. Vs. Bangalore. Pan: Aacci6196C Appellant Respondent Assessee By : Shri Suresh Muthukrishnan, Ca : Shri Kannan Narayanan, Revenue By Jcit (Dr) Date Of Hearing : 18-08-2021 Date Of Pronouncement : 11-10-2021 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 30/10/2018 Passed By The Ld.Cit(A)-3, Bangalore For Assessment Year 2013-14 On Following Grounds Of Appeal: “1. The Order Of The Ld. Commissioner Of Income Tax (Appeals) In So Far As It Is Against The Appellant Is Opposed To Taw, Equity, Weight Of Evidence, Probabilities, Facts & Circumstances Of The Case. 2. The Authorities Below Have Not Justified In Making An Addition Of Rs.41,04,847/- On An Estimate Basis At 5% Of The Total Expenditure Claimed Under The Facts & In The Circumstances Of The Appellant'S Case.

For Appellant: Shri Suresh Muthukrishnan, CA
Section 143(2)Section 144

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2013-14 M/s. Indiaon Time Express Pvt. Ltd., The Assistant A1, Samhita Ritz, Commissioner of Nagavarapalya, Income Tax, CV Raman Nagar, Circle – 3 [1][1], Bangalore – 560 093. Vs. Bangalore. PAN: AACCI6196C APPELLANT RESPONDENT Assessee by : Shri Suresh Muthukrishnan, CA : Shri Kannan Narayanan, Revenue by JCIT (DR) Date of Hearing : 18-08-2021 Date of Pronouncement : 11-10-2021 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal is filed by assesse…

DCIT 5 (1), Indore vs. M/S Sanverwala Jewellers Pvt. Ltd, Indore

ITA 384/IND/2018[12-13]Status: DisposedITAT Indore22 Sept 2021

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing Assessment Year:2012-13 Dcit-5(1) M/S. Sanverwala Jewellers Pvt. Indore Ltd. बनाम/ 12, Chhota Sarafa Vs. Indore (Appellant) (Revenue ) P.A. No.Aaocs7650K Appellant By Shri Rajeeb Jain, Sr. Dr Respondent By S/Shri S.N. Agrawal & Bhavesh Agrawal, Ars Date Of Hearing: 22.06.2021 Date Of Pronouncement: 22.09.2021 आदेश / O R D E R Per Manish Borad, A.M:

Section 131Section 143(3)Section 68

…अपील"य अ"धकरण, इ"दौर "यायपीठ, इ"दौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI MANISH BORAD,ACCOUNTANT MEMBER AND Ms. MADHUMITA ROY, JUDICIAL MEMBER Virtual hearing Assessment Year:2012-13 DCIT-5(1) M/s. Sanverwala Jewellers Pvt. Indore Ltd. बनाम/ 12, Chhota Sarafa Vs. Indore (Appellant) (Revenue ) P.A. No.AAOCS7650K Appellant by Shri Rajeeb Jain, Sr. DR Respondent by S/Shri S.N. Agrawal & Bhavesh Agrawal, ARs Date of Hearing: 22.06.2021 Date of Pronouncement: 22.09.2021 आदेश / O R D E R PER MANISH BORAD, A.M: The above captioned appeal filed at the instance of the Revenue for Ass…