Riddhi Promoters (P) Ltd. v. CIT

377 ITR 641High Court2015#16299 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also reported as

232 Taxmann 430
Read the full judgment

Judgments citing Riddhi Promoters (P) Ltd. v. CIT

M/S Real Time Consultants Pvt. Ltd., Mumbai vs. ITO 15(3)(1), Mumbai

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

ITA 3290/MUM/2019[2011-12]Status: DisposedITAT Mumbai05 Sept 2025AY 2011-12

Bench: Shri Pawan Singh & Shri Prabhash Shankar

For Appellant: Shri Rushabh Mehta,ARFor Respondent: Shri Uma Shankar Prasad, (CIT DR)
Section 131Section 133(6)Section 143(3)Section 147Section 148

…income u/s 68 of the Act, since law places a burden of establishing creditworthiness on such assessee. It was so Page 19 ITA No. 3290/Mum/2019 A.Y. 2011-12 M/s Real Time Consultants Pvt. Ltd. decided by the High Court in Riddhi Promoters P. Ltd. vs CIT [2015] 377 ITR 641 (Delhi). The Hon'ble Supreme Court in the decision dated 25.03.2019 in the case of NRA Iron & Steel Pvt. Limited 412 ITR 161 (SC), after discussing a number of decisions held that the practice of conversion of unaccounted money through the cloak of share capital/share premium must be subjected to careful scrutiny to ascertain whether the transact…

Shri Madan Lal Meena, Jaipur vs. Assistant Commissioner of Income Tax, Circle-2, Kota

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

ITA 873/JPR/2019[2007-08]Status: DisposedITAT Jaipur29 Aug 2022AY 2007-08
For Appellant: Shri Mahendra Gargieya (Adv.)For Respondent: Ms. Runi Pal (Addl.CIT) a
Section 147Section 148Section 234ASection 54BSection 68

…64 (Karnataka) held- Addition made under section 68 was to be confirmed where assessee failed to prove that amount deposited in bank was in fact loan taken from various creditors 14 Shri Madan Lal Meena In the case of Riddhi Promoters (P) Ltd. v. CIT (2015] 377 ITR 641/232 Taxman 430/58 taxmann.com 367 (Delhi) it has been held that the assessee has not only to establish identity of the creditor but genuineness as well as creditworthiness is to be established u/s. 68 of the Act. In the case of CIT v. Nipun Builders & Developers (P) Ltd. 120131 350 ITR 407/214 Taxman 429/30 taxmann.com 292 (Delhi), the Hon'ble Co…

Bhadanes Hitech Technology Computer Pvt.Ltd, Nashik vs. Income-Tax Officer, Ward - 1(1), Nashik

Appeal is partly allowed in above terms

ITA 1289/PUN/2018[2013-14]Status: DisposedITAT Pune14 Jul 2022AY 2013-14

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2013-14 Bhadanes Hitech Technology Vs. Ito, Ward Computer Pvt. Ltd. 1(1), Nashik Flat No.10, Padmavishwa Plaza, Nashik Pune Road, Tagore Nagar, Nashik – 422006 Pan : Aadcb9102E Appellant Respondent

Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER निर्धारण वषा / Assessment Year : 2013-14 Bhadanes Hitech Technology Vs. ITO, Ward Computer Pvt. Ltd. 1(1), Nashik Flat No.10, Padmavishwa Plaza, Nashik Pune Road, Tagore Nagar, Nashik – 422006 PAN : AADCB9102E Appellant Respondent Assessee by Shri Naimish Dixit Revenue by Shri M.G. Jasnani Date of hearing 04-07-2022 Date of pronouncement 14-07-2022 आदेश / ORDER PER S.S. GODARA, JM : This assessee‟s appeal for AY 2013-14 arises against the CIT(A)-1, Nashik‟s order dated 29…

V E L Software Ltd., Nashik vs. Deputy Commissioner of Income-Tax

In the result, the appeal of the assessee is dismissed

ITA 1173/PUN/2016[2001-02]Status: DisposedITAT Pune18 May 2022AY 2001-02

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury"नधा"रण वष" / Assessment Year : 2001-02

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER "नधा"रण वष" / Assessment Year : 2001-02 VEL Software Limited, Vs. DCIT, Circle-1, 5, Gurukrupa, Nashik Purbai Rajendra Complex, Opp. Hotel Vasco, Nashik Road, Nashik 422 101 PAN : AAACV7830N Appellant Respondent Assessee by Shri Naresh Kumar Revenue by Shri Sardar Singh Meena Date of hearing 17-05-2022 Date of pronouncement 18-05-2022 आदेश / ORDER PER PARTHA SARATHI CHAUDHURY, JM : This appeal preferred by the assessee emanates from the order of the ld.CI…

Prime Comfort Products P. Ltd., New Delhi vs. ACIT, Circle-20(1), New Delhi

In the result, the appeal of the assessee is allowed

ITA 267/DEL/2019[2015-16]Status: DisposedITAT Delhi04 Oct 2019AY 2015-16

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: S/Shri Raj Kumar & Sumit Goel, CAFor Respondent: Shri Surender Pal, Sr.D.R
Section 133(6)Section 143(3)Section 56Section 68

…T vs. Nipun Builders and Developers P. Ltd., (2013) 350 ITR 407 (Delhi). (ii) CIT vs. N.R. Portfolio Pvt. Ltd. (2014) 2 ITR-OL 68 (Delhi) (iii) CIT v. Gold Leaf Capital Corporation Ltd. (2013) 353 ITR 163 (Delhi). (iv) Riddhi Promoters P. Ltd. vs. CIT, (2015) 377 ITR 641 (Delhi) (v) PCIT vs. Bikram Singh, (2017) 399 ITR 407. 8. Before us, the ld counsel, Shri Raj Kumar Gupta, first of all, challenging the addition on the ground that the same is beyond the scope of limited scrutiny, submitted that the reasons for selection of scrutiny under CASS was to inquire the share premium vis-à-vis the applicability of Sect…

Wellman Wacoma Ltd, Kolkata vs. JCIT, Circle - 8, Kolkata

ITA 1229/KOL/2012[2009-10]Status: DisposedITAT Kolkata13 Apr 2016AY 2009-10

Bench: : Shri M. Balaganesh & Shri S.S. Vishwanethra Ravi

For Appellant: Shri S.M Surana, Advocate, ld.ARFor Respondent: Md. Ghyas Uddin, JCIT, ld.Sr.DR
Section 143(3)Section 3Section 68

…he co-ordinate bench of this tribunal in the case of Bisakha Sales (P) Ltd vs CIT reported in (2015) 52 taxmann.com 305 (Kolkata – Trib.) dated 19.9.2014. (c ) Decision of the Hon’ble Delhi High Court in the case of Riddhi Promoters (P) Ltd vs CIT reported in 377 ITR 641 (Del), 6 ITA No. 1229/Kol/2012-B-AM M/s.Wellman Wacoma Ltd (d) Decision of the Hon’ble Calcutta High Court in the case of CIT vs Maithan International reported in (2015) 375 ITR 123 (Cal) (e) Decision of the Hon’ble Apex Court in the case of Navodaya Castle (P) Ltd vs CIT reported in (2015) 56 taxmann.com 18 (SC) 7. We have heard the rival su…