Rick Lunsford Trade & Investment Ltd. v. CIT 2016-TIOL- 207-SC-IT

230 Taxmann 268Supreme Court of India2015#1737 most cited
65

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2026.

Sections most often in play

Section 143(3)Section 147Section 1961Section 148Section 10(38)Section 132Section 132ASection 143(1)

Issues it is cited on

paper companycreditworthiness of the creditorsource of sourceshare application moneyaccommodation entrygenuineness of the transactionunexplained cash creditsection 131section 133(6)cross objectionincome-tax officersection 68

Judgments citing Rick Lunsford Trade & Investment Ltd. v. CIT 2016-TIOL- 207-SC-IT

ACIT, Alwar vs. M/S Prime Chem Oil Ltd., Alwar

ITA 9/JPR/2012[1999-00]Status: DisposedITAT Jaipur10 Mar 2017AY 1999-00
For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri Prithaviraj Meena(Addl. CIT)
Section 143(1)Section 143(3)Section 147Section 148Section 68Section 69

…on the assessee to prove the identity, creditworthiness and genuineness of the transaction in respect of subscription to the share capital has not been discharged and in support, he relied upon the decision of Hon’ble Supreme Court in case of Navodaya Castles 230 Taxmann 268 (SC). Further, he relied on the order of the Assessing officer. Per contra, the ACIT Vs M/s Prime Chem Oil Ltd., Alwar ld AR took us through the findings of the ld CIT(A) and relied on the same. 4. Firstly, we will take up the issue regarding jurisdiction of Assessing officer to assess other income which has escaped assessment and which com…

ITO 6(3)3, Mumbai vs. Mahanagar Trading Co. P.Ltd, Mumbai

In the result, appeal of the revenue is partly allowed for statistical purposes

ITA 5263/MUM/2011[2002-03]Status: DisposedITAT Mumbai29 Jun 2016AY 2002-03

Bench: Shri B R Baskaran & Shri Amit Shukla

Section 131Section 133(6)Section 143(3)Section 41(1)Section 68

…आयकर अपीलीय अिधकरण “बी” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI "ी बी आर भा"करन, लेखा सद"य एवं "ी अिमत शु"ला, "याियक सद"य के सम" । BEFORE SHRI B R BASKARAN, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA No. : 5263/Mum/2011 (Assessment year: 2002-03) Vs महानगर "े"डंग कंपनी "ाइवेट "ल"मटेड The ITO -6(3)-3, R. No. 524, Aayakar Bhavan, M/s Mahanagar Trading Co. Pvt Ltd, 5th Floor, M K Marg, 49-A, Shiv Smruti Chambers, Mumbai-400 020 Dr. A B Road, Worli, Mumbai -400 018 "थयी लेखा सं. PAN: AADCM 0605 R अपीलाथ" (Appellant) ""यथ" (Respondent) Appellant by : "मस राजे"…

ACIT, New Delhi vs. M/S. Gulshan International (P) Ltd., New Delhi

ITA 115/DEL/2012[2003-04]Status: DisposedITAT Delhi22 Apr 2016AY 2003-04

Bench: Shri I.C. Sudhir & Shri O.P. Kant Assessment Year: 2003-04 Acit, Vs. Gulshan International (P) Ltd., Circle-12(1), B-20/1, Wazirpur International New Delhi. Area, Phase-Ii, New Delhi. (Pan: Aabcg1201H) (Appellant) (Respondent) Assessee By: S/Shri Satyen Sethi & A. Pandu, Adv. Department By: Shri T. Vasudevan, Sr. Dr Date Of Hearing : 27.01.2016 Date Of Pronouncement: 22:04.2016 Order Per I.C. Sudhir:The Revenue Has Questioned First Appellate Order Raising The Issue As To Whether The Learned Cit(Appeals) Was Correct In Deleting The Addition Of Rs.40,02,780 Made By The Assessing Officer Under Sec. 68 Of The Income-Tax Act, 1961 Treating The Share Application Money As Unexplained Cash Credits.

For Appellant: S/Shri Satyen Sethi & A. Pandu, AdvFor Respondent: Shri T. Vasudevan, Sr. DR
Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH “C” NEW DELHI) BEFORE SHRI I.C. SUDHIR AND SHRI O.P. KANT Assessment Year: 2003-04 ACIT, vs. Gulshan International (P) Ltd., Circle-12(1), B-20/1, Wazirpur International New Delhi. Area, Phase-II, New Delhi. (PAN: AABCG1201H) (Appellant) (Respondent) Assessee by: S/Shri Satyen Sethi & A. Pandu, Adv. Department by: Shri T. Vasudevan, Sr. DR Date of hearing : 27.01.2016 Date of pronouncement: 22:04.2016 ORDER PER I.C. SUDHIR: JUDICIAL MEMBER The Revenue has questioned first appellate order raising the issue as to whether the Learned CIT(Appeals) was correct in delet…

ITO, New Delhi vs. M/S. Hira Realotors Pvt. Ltd., New Delhi

In the result the appeal of the revenue is dismissed

ITA 117/DEL/2012[2008-09]Status: DisposedITAT Delhi08 Mar 2016AY 2008-09

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiito, Hira Realtors Pvt. Ltd., Ward-12(4), D-26, Defense Colony, Room No.331, Vs. New Delhi, C. R. Building, New Delhi New Delhi Pan:Aabch6352E (Appellant) (Respondent) Assessee By Sh. G.C.Srivastava, Adv Sh. Anubhav Jain, Adv Revenue By Sh.T.Vasanthan, Sr. Dr

Section 133(6)Section 68

…Ltd and therefore it does not prove genuineness of the transaction. He relied on the decision of Hon’ble Delhi High Court in the case Commissioner of Income-tax Vs. Navodaya Castles (P.) Ltd. 367 ITR 306 (Del) which has been upheld by Hon’ble Supreme Court in 230 Taxmann 268. Ii. It was also his contention that when notices issued u/s 133(6) of the act remained un-responded and when it is submitted that it belongs to a group of the well known builder such as Emaar MGF, transaction should have been initiated not in cash but through the banking channel. He further submitted that there is no evidence that company be…

ITO, New Delhi vs. M/S. Softline Creations (P) Ltd., New Delhi

The appeal is dismissed as no substantial question of law arises

ITA 744/DEL/2012[2003-04]Status: DisposedITAT Delhi10 Feb 2016AY 2003-04

Bench: Shri N.K.Saini & Shri Vijay Pal Raoito, Vs. M/S. Softline Creations (P) Ltd., Ward-9(1), Room 38, Rani Jhanshi Road, No.190, Jhandewallan, New Delhi C.R.Building, New Pan:Aaecs6591B Delhi (Assessee) (Respondent)

For Appellant: Smt. Amrapally Das, CIT DRFor Respondent: Sh. Ved Jain, CA
Section 147Section 148Section 68

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”: NEW DELHI BEFORE SHRI N.K.SAINI, ACCOUNTANT MEMBER AND SHRI VIJAY PAL RAO, JUDICIAL MEMBER ITO, Vs. M/s. Softline Creations (P) Ltd., Ward-9(1), Room 38, Rani Jhanshi Road, No.190, Jhandewallan, New Delhi C.R.Building, New PAN:AAECS6591B Delhi (Assessee) (Respondent) Appellant by : Smt. Amrapally Das, CIT DR Respondent by : Sh. Ved Jain, CA Sh. Ashish Goel, CA Sh. Ashish Chadha, CA Date of Hearing 21.12.2015 Date of pronouncement .12.2015 O R D E R PER VIJAY PAL RAO, JM This appeal of the revenue is against the order dated 30.08.2011 of ld. CIT(A)- XII, New D…