Pr. CIT v. Apeak Infotech

88 Taxmann.com 695High Court2017#4131 most cited

What is Pr. CIT v. Apeak Infotech authority for?

The proviso added to Section 68 of the Income Tax Act, 1961, which deals with unexplained cash credits, does not have retrospective effect and cannot be invoked for assessment years prior to its introduction.

29

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2024.

Also referred to as

Pr. CIT v. Apeak Infotech · Section 68 · proviso to Section 68 · unexplained cash credits · retrospective effect · assessment year 2012-13 · share premium · share application money

Issues it is cited on

section 106section 23(4)section 23(1)annual letting valuesection 24(a)annual valuesource of sourceshare capital and share premiumcreditworthiness of the creditordeemed dividendsection 2(22)(e)share application money

Judgments citing Pr. CIT v. Apeak Infotech

M/S JR FIBER GLASS INDUSTRIES PVT LTD,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE, MUMBAI

The appeal is allowed

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

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

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

…issuance of shares of premium cannot be brought to tax under any section of the Income Tax Act up to assessment year 2012-13. We find that the reliance placed by the Id. AR in the decision of Hon'ble Bombay High Court in Pr. CIT vs. Apeak Infotech reported in 88 Taxmann.com 695 dt 08.06.2017 wherein the question raised before the Hon'ble Bombay High Court are as under: A. Whether on the facts and circumstances of the case and in law, the Tribunal was correct to uphold the decision on Commissioner of Income Tax (Appeals) that the share premium received by the assessee-company cannot be taxed under Section 68 of th…

JAYEM REALTY MANAGEMENT PVT LTD ,MUMBAI vs. PRINCIPLE COMM. OF INCOME TAX-1, MUMBAI

ITA 2216/MUM/2023[2010-2011]Status: DisposedITAT Mumbai13 Dec 2023AY 2010-2011

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blejayam Realty Management Pvt Ltd., V. Pr.Cit Recondo Compound Room No. 330, 3Rd Floor Inside Municipal Asphalt Compound Aayakar Bhavan, M.K. Road S.K. Ahire Marg, Worli Mumbai - 400020 Mumbai - 400030 Pan: Aaccj0004G (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punamiya & Shri Himanshu Gandhi Department Represented By : Shri Ankush Kapoor

Section 143Section 143(3)Section 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI AMIT SHUKLA, HON'BLE JUDICIAL MEMBER & SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Jayam Realty Management Pvt Ltd., v. Pr.CIT Recondo Compound Room No. 330, 3rd Floor Inside Municipal Asphalt Compound Aayakar Bhavan, M.K. Road S.K. Ahire Marg, Worli Mumbai - 400020 Mumbai - 400030 PAN: AACCJ0004G (Appellant) (Respondent) Assessee Represented by : Shri Vimal Punamiya & Shri Himanshu Gandhi Department Represented by : Shri Ankush Kapoor Date of Conclusion of Hearing : 07.11.2023 Date of Pronouncement : 13.12.2023 O R D E R PER S. RIFA…

SUBHDHAN FINANCIAL ADVISORY PRIVATE LIMITED ,KOLKATA vs. I.T.O.,WARD-9(4), KOLKATA

In the result, appeal of the assessee is allowed

ITA 2198/KOL/2019[2014-15]Status: DisposedITAT Kolkata11 Jul 2023AY 2014-15

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 2198/Kol/2019 Assessment Year: 2014-15 Subhdhan Financial Advisory Income Tax Officer, Ward-9(4) Private Limited Vs C/O Sri Jitendra Kaushik, Advocate 19D, Muktaram Babu Street Kolkata - 700007 [Pan : Aamcs7818P] अपीलाथ"/ (Assessee ) "" यथ"/ (Respondent) Assessee By : Shri Sunil Surana, Fca Revenue By : Smt. Ranu Biswas, Addl. Cit D/R सुनवाई क" तारीख/Date Of Hearing : 16/05/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/07/2023 आदेश/O R D E R Per Dr. Manish Borad: This Is An Appeal Preferred By The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals) – 15, Kolkata (Hereinafter Referred To As The “Ld. Cit(A)”], Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter The ‘Act’), Dated 13/03/2019 For The Assessment Year 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Order Of The Ld. Commissioner Of Income-Tax(A) 15, Kolkata Is Arbitrary, Illegal & Bad In Law. 2. For That On The Facts & Circumstances Of The Case The Ld. Commissioner Of Income-Tax (Appeals) 15, Erred In Confirming The Action Of Income-Tax Officer Adding A Sum Of Rs.72,00,000/- Under Section 68 Of The I T Act 1961. 3. For That The Appellant Craves Leave To Add, Alter Or Amend Any Ground Before Or At The Time Of Hearing Of Appeal.”

For Appellant: Shri Sunil Surana, FCAFor Respondent: Smt. Ranu Biswas, Addl. CIT D/R
Section 143(2)Section 250Section 68

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SONJOY SARMA, HON’BLE JUDICIAL MEMBER I.T.A. No. 2198/Kol/2019 Assessment Year: 2014-15 Subhdhan Financial Advisory Income Tax Officer, Ward-9(4) Private Limited Vs C/o Sri Jitendra Kaushik, Advocate 19D, Muktaram Babu Street Kolkata - 700007 [PAN : AAMCS7818P] अपीलाथ"/ (Assessee ) "" यथ"/ (Respondent) Assessee by : Shri Sunil Surana, FCA Revenue by : Smt. Ranu Biswas, Addl. CIT D/R सुनवाई क" तारीख/Date of Hearing : 16/05/2023 घोषणा क" तारीख /Date of Pronoun…

DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

ITA 1792/MUM/2021[2016-17]Status: DisposedITAT Mumbai10 Mar 2023AY 2016-17

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 713/MUM/2020 (A.Y. 2011-12) ITA NOs. 1791, 1790, 1792 & 1889/MUM/2021 (A.Ys: 2014-15, 2015-16, 2016-17 & 2018-19) ITA.Nos. 1866, 1867 & 1868/MUM/2021 (A.Ys: 2017-18, 2013-14 & 2012-13) DCIT – Central Circle – 1(4) v. M/s. Anandilal & Ganesh Podar Room No. 902, 9th Floor Society Pratishtha Bhavan Podar Education Complex Old CGO Annexe Saraswati Road, Santacruz (W) Maharishi Karve Road Mumbai - 400054 Mumbai - 400020 PAN: AAATA5136D (Appella…

DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

ITA 1791/MUM/2021[2014-15]Status: DisposedITAT Mumbai10 Mar 2023AY 2014-15

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 713/MUM/2020 (A.Y. 2011-12) ITA NOs. 1791, 1790, 1792 & 1889/MUM/2021 (A.Ys: 2014-15, 2015-16, 2016-17 & 2018-19) ITA.Nos. 1866, 1867 & 1868/MUM/2021 (A.Ys: 2017-18, 2013-14 & 2012-13) DCIT – Central Circle – 1(4) v. M/s. Anandilal & Ganesh Podar Room No. 902, 9th Floor Society Pratishtha Bhavan Podar Education Complex Old CGO Annexe Saraswati Road, Santacruz (W) Maharishi Karve Road Mumbai - 400054 Mumbai - 400020 PAN: AAATA5136D (Appella…

DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

ITA 1790/MUM/2021[2015-16]Status: DisposedITAT Mumbai10 Mar 2023AY 2015-16

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 713/MUM/2020 (A.Y. 2011-12) ITA NOs. 1791, 1790, 1792 & 1889/MUM/2021 (A.Ys: 2014-15, 2015-16, 2016-17 & 2018-19) ITA.Nos. 1866, 1867 & 1868/MUM/2021 (A.Ys: 2017-18, 2013-14 & 2012-13) DCIT – Central Circle – 1(4) v. M/s. Anandilal & Ganesh Podar Room No. 902, 9th Floor Society Pratishtha Bhavan Podar Education Complex Old CGO Annexe Saraswati Road, Santacruz (W) Maharishi Karve Road Mumbai - 400054 Mumbai - 400020 PAN: AAATA5136D (Appella…

CYQUATOR MEDIA SERVICES PRIVATE LIMITED,MUMBAI vs. DCIT, RANGE .6(2)(1), MUMBAI

In the result, overall, the appeal of the Revenue in ITA No

ITA 4478/MUM/2017[2012-13]Status: DisposedITAT Mumbai06 Mar 2023AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) Dcit-6(2)(1) बिधम/ M/S. Cyquator Media R. No. 504, 5Th Floor, Services Pvt. Ltd. Vs. Aayakar Bhavan, M. K. 135, Continental Building, Road, Mumbai-400020. Dr. A. B. Road, Worli, Mumbai-400018. Cross Objection No. 302/Mum/2018 Arising Out Of I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Years: 2012-13) Cyquator Media Services बिधम/ Dcit-6(2)(1) Pvt. Ltd. Aayakar Bhavan, Vs. 18Th Floor, A Wing, Mumbai-400020. Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai-400013. आयकर अपील सं/ I.T.A. No.4478/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) M/S. Cyquator Media बिधम/ Dcit-6(2)(1) R. No. 504, 5Th Floor, Services Pvt. Ltd. Vs. 135, Continental Building, Aayakar Bhavan, M. K. Dr. A. B. Road, Worli, Road, Mumbai-400020 Mumbai-400018. Dcit-6(2)(1) R. No. 504, 5Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaecp0069P (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Jay Bhansali/Ms. Slachi Jain Revenue By: Shri H. N. Singh (Dr) & Mr. R. A. Dhyani (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 12/12/2022 घोषणा की तारीख /Date Of Pronouncement: 06/03/2023 C.O. 302/Mum/2018 A.Ys. 2012-13 Shri Cyquator Media Services Pvt. Ltd.

For Appellant: Shri Jay Bhansali/Ms. Slachi JainFor Respondent: Shri H. N. Singh (DR) & Mr. R
Section 143(3)Section 56Section 56(1)Section 68

…e effect, by proceeding on the basis that the addition of the proviso to Section 68 of the Act is immaterial and does not change the interpretation of Section 68 of the Act both before and after the adding of the proviso....” (ii) Pr. CIT vs. Apeak Infotech (88 Taxmann.com 695) [Bom HC]: “Similarly, the amendment to section 68 of the Act by addition of proviso was made subsequent to previous year relevant to the subject assessment year 2012-13 and cannot be invoked. It may be pointed out that this court in CIT v. Gagandeep Infrastructure (P.) Ltd. [2017] 80 taxmann.com 272/247 Taxman 245/394 ITR 680 (Bom.) has…

DCIT, CIRCLE.6(2)(1), MUMBAI vs. CYQUATOR MEDIA SERVICES PRIVATE LIMITED, MUMBAI

In the result, overall, the appeal of the Revenue in ITA No

ITA 4312/MUM/2017[2012-13]Status: DisposedITAT Mumbai06 Mar 2023AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) Dcit-6(2)(1) बिधम/ M/S. Cyquator Media R. No. 504, 5Th Floor, Services Pvt. Ltd. Vs. Aayakar Bhavan, M. K. 135, Continental Building, Road, Mumbai-400020. Dr. A. B. Road, Worli, Mumbai-400018. Cross Objection No. 302/Mum/2018 Arising Out Of I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Years: 2012-13) Cyquator Media Services बिधम/ Dcit-6(2)(1) Pvt. Ltd. Aayakar Bhavan, Vs. 18Th Floor, A Wing, Mumbai-400020. Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai-400013. आयकर अपील सं/ I.T.A. No.4478/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) M/S. Cyquator Media बिधम/ Dcit-6(2)(1) R. No. 504, 5Th Floor, Services Pvt. Ltd. Vs. 135, Continental Building, Aayakar Bhavan, M. K. Dr. A. B. Road, Worli, Road, Mumbai-400020 Mumbai-400018. Dcit-6(2)(1) R. No. 504, 5Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaecp0069P (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Jay Bhansali/Ms. Slachi Jain Revenue By: Shri H. N. Singh (Dr) & Mr. R. A. Dhyani (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 12/12/2022 घोषणा की तारीख /Date Of Pronouncement: 06/03/2023 C.O. 302/Mum/2018 A.Ys. 2012-13 Shri Cyquator Media Services Pvt. Ltd.

For Appellant: Shri Jay Bhansali/Ms. Slachi JainFor Respondent: Shri H. N. Singh (DR) & Mr. R
Section 143(3)Section 56Section 56(1)Section 68

…e effect, by proceeding on the basis that the addition of the proviso to Section 68 of the Act is immaterial and does not change the interpretation of Section 68 of the Act both before and after the adding of the proviso....” (ii) Pr. CIT vs. Apeak Infotech (88 Taxmann.com 695) [Bom HC]: “Similarly, the amendment to section 68 of the Act by addition of proviso was made subsequent to previous year relevant to the subject assessment year 2012-13 and cannot be invoked. It may be pointed out that this court in CIT v. Gagandeep Infrastructure (P.) Ltd. [2017] 80 taxmann.com 272/247 Taxman 245/394 ITR 680 (Bom.) has…

JVR RETAILS PRIVATE LIMITED ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX ,CIRCLE -2(1), HYDERABAD

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

ITA 175/HYD/2021[2012-13]Status: DisposedITAT Hyderabad31 Jan 2023AY 2012-13

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyassessment Year: 2012-13 Jvr Retails Private Limited Vs Dcit, Circle-2(1) C/O. Murali & Co. . Hyderabad Chartered Accountants 6-3-655/2/3, Somajiguda Hyderabad-500 082 Pan : Aaccv9428J (Appellant) (Respondent) Assessee By: Shri M.V.Joshi Appeared For P.Murali Mohan Rao, Ca Revenue By: Shri Jeevan Lal Lavidiya, Cit-Dr Date Of Hearing: 14.01.2023 Date Of Pronouncement: 31.01.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.03.2021 Passed U/S. 263 By The Learned Principal Commissioner Of Income Tax -2, Hyderabad Relating To A Y 2012-13. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Domestic Company Engaged In The Business Of Retails & Manufacturing Of Jewelry. It Filed Its Return Of Income Declaring Total Income Of Rs. 49,97,390/- On 08.09.2012 Which Was Processed U/S 143(1) On 21.02.2013. Subsequently, The Ao Reopened The Assessment By Recording Reasons As Per Provisions Of Section 147. The Reasons To Believe Which Was Put Up Before The Ld.Pcit-2 For Approval & Which Has Been Reproduced By The Ao In The Body Of The Assessment Order Read As Under:-

For Appellant: Shri M.V.Joshi appeared for P.Murali Mohan Rao, CAFor Respondent: Shri Jeevan Lal
Section 143(1)Section 143(3)Section 147Section 148Section 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad Before Shri Rama Kanta Panda, Accountant Member AND Shri K.Narasimha Chary, Judicial Member Assessment Year: 2012-13 JVR Retails Private Limited Vs DCIT, Circle-2(1) C/o. Murali & Co. . Hyderabad Chartered Accountants 6-3-655/2/3, Somajiguda Hyderabad-500 082 PAN : AACCV9428J (Appellant) (Respondent) Assessee by: Shri M.V.Joshi appeared for P.Murali Mohan Rao, CA Revenue by: Shri Jeevan Lal Lavidiya, CIT-DR Date of hearing: 14.01.2023 Date of pronouncement: 31.01.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): This appeal filed by the assessee…

NAV CONSEC P.LTD,MUMBAI vs. ITO 9(2)(3), MUMBAI

In the result, appeal of the assessee is allowed

ITA 3258/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Jan 2023AY 2011-12

Bench: Shri Aby T. Varkey, Jm & Shri. Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.3258/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/S Nav Consec Pvt Ltd बिधम/ Income Tax Officer, Ward 9(2)(3) Mumbai. Vs. C/O Sanjay Shah, 108, 1St Floor Sujata Niketan, Rani Sati Marg Malad East, Mumbai-400097 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcn1435A (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Anil Surana, Ca (Written Submission) Assessee By: Dr Mahesh Akhade, Cit Dr

For Appellant: Dr Mahesh Akhade, CIT DRFor Respondent: Shri Anil Surana, CA (written
Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI. GAGAN GOYAL, AM आयकर अपील सं/ I.T.A. No.3258/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/s Nav Consec Pvt Ltd बिधम/ Income Tax Officer, Ward 9(2)(3) Mumbai. Vs. C/o Sanjay Shah, 108, 1st Floor Sujata Niketan, Rani Sati Marg Malad East, Mumbai-400097 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AADCN1435A (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri Anil Surana, CA (written Submission) Assessee by: Dr Mahesh Akhade, CIT DR सुनवाई की तारीख / Date of Hearing: 21/11/2022 घोषणा की तारीख /Date of…

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…

DCIT 4 (3)(1), MUMBAI vs. SHRI MOHIT KEEPAK KAMBOJ, MUMBAI

ITA 4285/MUM/2019[2010-11]Status: DisposedITAT Mumbai28 Sept 2022AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alcpk2213Q (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

For Appellant: Shri Satyaprakash SinghFor Respondent: Shri P. R. Mane
Section 143(2)Section 143(3)Section 2(22)(e)Section 23Section 68

…e effect, by proceeding on the basis that the addition of the proviso to Section 68 of the Act is immaterial and does not change the interpretation of Section 68 of the Act both before and after the adding of the proviso....” (ii) Pr. CIT vs. Apeak Infotech (88 Taxmann.com 695) [Bom HC]: “Similarly, the amendment to section 68 of the Act by addition of proviso was made subsequent to previous year relevant to the subject assessment year 2012-13 and cannot be invoked. It may be pointed out that this court in CIT v. Gagandeep Infrastructure (P.) Ltd. [2017] 80 taxmann.com 272/247 Taxman 245/394 ITR 680 (Bom.) has…

ACIT CIR-6(3)(2), MUMBAI vs. SHRI MOHIT DEEPAK KAMBOJ, MUMBAI

ITA 801/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Sept 2022AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

For Appellant: Shri Satyaprakash SinghFor Respondent: Shri P. R. Mane
Section 143(2)Section 143(3)Section 2(22)(e)Section 23Section 68

…e effect, by proceeding on the basis that the addition of the proviso to Section 68 of the Act is immaterial and does not change the interpretation of Section 68 of the Act both before and after the adding of the proviso....” (ii) Pr. CIT vs. Apeak Infotech (88 Taxmann.com 695) [Bom HC]: “Similarly, the amendment to section 68 of the Act by addition of proviso was made subsequent to previous year relevant to the subject assessment year 2012-13 and cannot be invoked. It may be pointed out that this court in CIT v. Gagandeep Infrastructure (P.) Ltd. [2017] 80 taxmann.com 272/247 Taxman 245/394 ITR 680 (Bom.) has…

DCIT 4 (3)(1), MUMBAI vs. MOHIT DEEPAK KAMBOJ, MUMBAI

ITA 6384/MUM/2018[2010-11]Status: DisposedITAT Mumbai28 Sept 2022AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

For Appellant: Shri Satyaprakash SinghFor Respondent: Shri P. R. Mane
Section 143(2)Section 143(3)Section 2(22)(e)Section 23Section 68

…e effect, by proceeding on the basis that the addition of the proviso to Section 68 of the Act is immaterial and does not change the interpretation of Section 68 of the Act both before and after the adding of the proviso....” (ii) Pr. CIT vs. Apeak Infotech (88 Taxmann.com 695) [Bom HC]: “Similarly, the amendment to section 68 of the Act by addition of proviso was made subsequent to previous year relevant to the subject assessment year 2012-13 and cannot be invoked. It may be pointed out that this court in CIT v. Gagandeep Infrastructure (P.) Ltd. [2017] 80 taxmann.com 272/247 Taxman 245/394 ITR 680 (Bom.) has…

ITO 6 (2)(1), MUMBAI vs. M/S CONFIANCE TRADING PVT LTD., MUMBAI

ITA 199/MUM/2020[2012-13]Status: DisposedITAT Mumbai24 Jan 2022AY 2012-13

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2012-13 Ito 6(2)(1), M/S. Confiance Trading 5Th Floor, Pvt. Ltd., Room No.510, 308, Adharu Industrial Aaykar Bhavan, Vs. Estate, M.K. Road, Sun Mill Compound, Mumbai – 400 020 Lower Parel, Mumbai – 400 013 Pan: Aaccc4316L (Appellant) (Respondent) Present For: Assessee By : Shri Dharmvir, A.R. Revenue By : Shri Gaurav Kabra, D.R. Date Of Hearing : 10.11.2021 Date Of Pronouncement : 24.01.2022 O R D E R

For Appellant: Shri Dharmvir, A.RFor Respondent: Shri Gaurav Kabra, D.R
Section 143(1)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “C”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year: 2012-13 ITO 6(2)(1), M/s. Confiance Trading 5th Floor, Pvt. Ltd., Room No.510, 308, Adharu Industrial Aaykar Bhavan, Vs. Estate, M.K. Road, Sun Mill Compound, Mumbai – 400 020 Lower Parel, Mumbai – 400 013 PAN: AACCC4316L (Appellant) (Respondent) Present for: Assessee by : Shri Dharmvir, A.R. Revenue by : Shri Gaurav Kabra, D.R. Date of Hearing : 10.11.2021 Date of Pronouncement : 24.01.2022 O R D E R Per Amarjit Singh, Judicial Member: The present a…

BRAMHANI INDUSTRIES LIMITED, JAMMALAMADUGU,KADAPA vs. DCIT, CIRCLE-1(3), HYDERABAD, HYDERABAD

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

ITA 512/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD (Through Virtual Hearing) BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SRI CHANDRA MOHAN GARG, JUDICIAL MEMBER A.Y. 2010-11 Bramhani Industries Limited, VS. DCIT, Jammalamadugu. Circle-1(3), PAN: AADCB 1666 M Hyderabad. (Appellant) (Respondent) AY: 2010-11 DCIT, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. PAN: AADCB 1666 M (Appellant) (Respondent) Assessee by Sri Gowtham Jain Revenue by Sri K.V. Aravind, Sr. Standing Counsel for DR Date of hearing: 12/10/2021 Date of pronouncement: 06/01/2022 ORDER PER A. MO…

DCIT, CIRCLE-1(2), HYDERABAD, HYDERABAD vs. BRAMHANI INDUSTRIES LIMITED, JAMMALAMADUGU, YSR DIST., YSR DIST.

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

ITA 398/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD (Through Virtual Hearing) BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SRI CHANDRA MOHAN GARG, JUDICIAL MEMBER A.Y. 2010-11 Bramhani Industries Limited, VS. DCIT, Jammalamadugu. Circle-1(3), PAN: AADCB 1666 M Hyderabad. (Appellant) (Respondent) AY: 2010-11 DCIT, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. PAN: AADCB 1666 M (Appellant) (Respondent) Assessee by Sri Gowtham Jain Revenue by Sri K.V. Aravind, Sr. Standing Counsel for DR Date of hearing: 12/10/2021 Date of pronouncement: 06/01/2022 ORDER PER A. MO…

DY CIT CC 1(4) , MUMBAI vs. M/S HEMADARI MACHINE TOOLS PVT LTD., MUMBAI

ITA 714/MUM/2020[2011-12]Status: DisposedITAT Mumbai09 Aug 2021AY 2011-12

Bench: Shri Rajesh Kumar () & Shri Ravish Sood () Dy. Commissioner Of Income-Tax M/S Hemadari Machine Tools Central Circle -1 (4), Vs. Pvt. Ltd., Podar Centre, 85 Room No. 902, 9Th Floor, Parel Post Office Lane, Off Pratishtha Bhavan, Dr. Ambedkar Road, Parel, Old Cgo Bldg, (Annexe), Mumbai – 400 012 M.K. Road, Mumbai – 400 020

For Appellant: Ms. Ritu Kamal Kishore, A.RFor Respondent: Shri Gurbinder Singh, D.R
Section 131Section 132Section 133ASection 143(1)Section 143(3)Section 68

…ITA No. 714/Mum/2020 A.Y. 2011-12 1 Dy. CIT, C.C-1(4) Vs. M/s Hemadari Machine Tools Pvt. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H” MUMBAI BEFORE SHRI RAJESH KUMAR (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) Dy. Commissioner of Income-tax M/s Hemadari Machine Tools Central Circle -1 (4), Vs. Pvt. Ltd., Podar Centre, 85 Room No. 902, 9th Floor, Parel Post Office Lane, off Pratishtha Bhavan, Dr. Ambedkar Road, Parel, Old CGO Bldg, (Annexe), Mumbai – 400 012 M.K. Road, Mumbai – 400 020 PAN No. AACCH3946B (Revenue) (Assessee) Assessee by : Ms. Ritu Kamal Kishore, A.R Revenue by :…

M/S ADVENT COMMODITIES PVT. LTD.,ITO, WARD-4(3) vs. ITO, WARD-4(3), KOLKATA

In the result, the appeal of the assessee is allowed

ITA 522/KOL/2020[2012-13]Status: DisposedITAT Kolkata27 Jan 2021AY 2012-13

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 131Section 131(1)Section 144(1)Section 250Section 68

…ourt in the case referred to supra is not applicable to the facts of the instant case and is factually distinghuishable. 6.1. We find that the reliance placed by the ld. AR in the decision of Hon’ble Bombay High Court in Pr. CIT vs. Apeak Infotech reported in 88 Taxmann.com 695 dt 08.06.2017 wherein the question raised before the Hon’ble Bombay High Court are as under: “A. Whether on the facts and circumstances of the case and in law, the Tribunal was correct to uphold the decision on Commissioner of Income Tax (Appeals) that the share premium received by the assessee-company cannot be taxed u/s 68 of the Act ign…

M/S. TARA MERCANTILE PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the Appeal filed by the Assessee stands allowed

ITA 1572/DEL/2017[2011-12]Status: DisposedITAT Delhi12 Jul 2019AY 2011-12

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

For Appellant: Sh. Gautam Jain, AdvFor Respondent: Sh. S.S. Rana, CIT(DR)
Section 142(1)Section 143(2)Section 143(3)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.A. No. 1572/DEL/2017 A.Y. : 2011-12 M/S TARA MERCANTILE PVT. LTD. VS. DCIT, CIRCLE 16(1), 314-315, PP TOWER, NEW DELHI NETAJI SUBHASH PLACE, PITAMPURA, NEW DELHI – 34 (PAN: AAACT2680C) (APPELLANT) (RESPONDENT) Assessee By : Sh. Gautam Jain, Adv. Department By : Sh. S.S. Rana, CIT(DR) ORDER PER H.S. SIDHU : JM This appeal by the Assessee is directed against the impugned order dated 19.1.2017 passed by the Ld. CIT(A)-9, New Delhi on the following grounds:- 1. The…

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