Sarnath Infrastructure (P) Ltd. v. ACIT

120 TTJ 216Income Tax Appellate Tribunal2009#4792 most cited

What is Sarnath Infrastructure (P) Ltd. v. ACIT authority for?

Surplus arising on redemption of mutual funds, which are surrendered to the fund and not traded, cannot be considered as business income. The intention of the assessee at the time of purchase of shares or other items, as reflected in the books of account, is a key factor in determining whether transactions are in the nature of trade or investment.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

Sarnath Infrastructure (P) Ltd. v. ACIT · 120 TTJ 216 · ITAT · surplus on redemption of mutual funds · business income · investor simplicitor · trading of shares · intention of assessee

Judgments citing Sarnath Infrastructure (P) Ltd. v. ACIT

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…same effect are the following decisions rendered by the various benches of the Hon’ble Tribunal:  Anil Kumar Goel v. ACIT : ITA No.3142/Mds/2016  CIT vs. Sahara India Housing Corporation Ltd: ITA No. 740/2009 (Del)  Sarnath Infrastructure (P) Ltd. v. ACIT: 120 TTJ 216 (Lucknow) In view of the binding Circulars issued by the CBDT, the action of the assessing officer, without anything more, cannot be countenanced. It is further important to point out that the surplus has arisen on redemption of mutual funds which are surrendered (for redemption) to the funds itself. The same are not traded and it cannot, therefo…

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…same effect are the following decisions rendered by the various benches of the Hon’ble Tribunal:  Anil Kumar Goel v. ACIT : ITA No.3142/Mds/2016  CIT vs. Sahara India Housing Corporation Ltd: ITA No. 740/2009 (Del)  Sarnath Infrastructure (P) Ltd. v. ACIT: 120 TTJ 216 (Lucknow) In view of the binding Circulars issued by the CBDT, the action of the assessing officer, without anything more, cannot be countenanced. It is further important to point out that the surplus has arisen on redemption of mutual funds which are surrendered (for redemption) to the funds itself. The same are not traded and it cannot, therefo…

DCIT, CIR-36, KOLKATA, KOLKATA vs. SMT YAMINI KHANDELWAL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 613/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

…assessee is to be termed as engaged in trading/business of shares or to be treated as an investor simplicitor, we refer to certain broad principles culled out by the co-ordinate bench of ITAT Lucknow in the case of Sarnath Infrastructure Pvt. Ltd. reported in 120 TTJ 216 (Lck) which are reproduced as under:- ITA No. 425 & 613/Kol/2015 Yamini Khandelwal ITA No. 1069 & 1105/Kol/2015 Suraj Khandelwal AY 2010-11 12 “13. After considering above rulings we cull out following principles, which can be applied on the facts’ of a case to find out whether transaction(s) in question are in the nature of trade or are merely…

YAMINI KHANDEL WAL,KOLKATA vs. ACIT, CIR-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 425/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

…assessee is to be termed as engaged in trading/business of shares or to be treated as an investor simplicitor, we refer to certain broad principles culled out by the co-ordinate bench of ITAT Lucknow in the case of Sarnath Infrastructure Pvt. Ltd. reported in 120 TTJ 216 (Lck) which are reproduced as under:- ITA No. 425 & 613/Kol/2015 Yamini Khandelwal ITA No. 1069 & 1105/Kol/2015 Suraj Khandelwal AY 2010-11 12 “13. After considering above rulings we cull out following principles, which can be applied on the facts’ of a case to find out whether transaction(s) in question are in the nature of trade or are merely…

DCIT, CIR-36, KOLKATA, KOLKATA vs. SHRI SURAJ KHANDEL, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1105/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

…assessee is to be termed as engaged in trading/business of shares or to be treated as an investor simplicitor, we refer to certain broad principles culled out by the co-ordinate bench of ITAT Lucknow in the case of Sarnath Infrastructure Pvt. Ltd. reported in 120 TTJ 216 (Lck) which are reproduced as under:- ITA No. 425 & 613/Kol/2015 Yamini Khandelwal ITA No. 1069 & 1105/Kol/2015 Suraj Khandelwal AY 2010-11 12 “13. After considering above rulings we cull out following principles, which can be applied on the facts’ of a case to find out whether transaction(s) in question are in the nature of trade or are merely…

SURAJ KHANDELWAL,KOLKATA vs. JCIT, RG-36, KOLKATA, KOLKATA

In the result, appeals of both the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1069/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Sept 2022AY 2010-2011

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Year: 2010-11 Smt. Yamini Khandelwal Asst. Commissioner Of Income 5, Amratolla Street Vs Tax, Circle-36, Kolkata Kolkata - 700001 Pan: Afupk6167K अपीलाथ"/ (Appellant) "" यथ"/ (Respondent)

For Appellant: Shri J.M. Thard, AdvocateFor Respondent: Shri Biswanath Das, Sr. D/R
Section 14A

…assessee is to be termed as engaged in trading/business of shares or to be treated as an investor simplicitor, we refer to certain broad principles culled out by the co-ordinate bench of ITAT Lucknow in the case of Sarnath Infrastructure Pvt. Ltd. reported in 120 TTJ 216 (Lck) which are reproduced as under:- ITA No. 425 & 613/Kol/2015 Yamini Khandelwal ITA No. 1069 & 1105/Kol/2015 Suraj Khandelwal AY 2010-11 12 “13. After considering above rulings we cull out following principles, which can be applied on the facts’ of a case to find out whether transaction(s) in question are in the nature of trade or are merely…

THE ADDL.CIT, RANGE-1, BARODA vs. GUJARAT FLUOROCHEMEICALS LTD, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 548/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2010-11

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

…ther the assessee is to be termed as involving in the trading in shares or to be treated as a simplicitor investor, we would like to make reference to certain tests propounded by ITAT, Lucknow Bench in the case of Sarnath Infrastructure P.Ltd. Vs.ACIT, (2009) 120 TTJ 216. ITAT, Lucknow Bench has considered the issue, whether the assessee deserves to e treated as trader or investor. The following tests are worth to note. It reads as under: “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether ITA No.1379 and 1380/Ahd/2009 and 13 Oth…

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 117/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2011-12

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

…ther the assessee is to be termed as involving in the trading in shares or to be treated as a simplicitor investor, we would like to make reference to certain tests propounded by ITAT, Lucknow Bench in the case of Sarnath Infrastructure P.Ltd. Vs.ACIT, (2009) 120 TTJ 216. ITAT, Lucknow Bench has considered the issue, whether the assessee deserves to e treated as trader or investor. The following tests are worth to note. It reads as under: “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether ITA No.1379 and 1380/Ahd/2009 and 13 Oth…

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE ADDL. CIT, RANGE-1,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 116/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2010-11

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

…ther the assessee is to be termed as involving in the trading in shares or to be treated as a simplicitor investor, we would like to make reference to certain tests propounded by ITAT, Lucknow Bench in the case of Sarnath Infrastructure P.Ltd. Vs.ACIT, (2009) 120 TTJ 216. ITAT, Lucknow Bench has considered the issue, whether the assessee deserves to e treated as trader or investor. The following tests are worth to note. It reads as under: “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether ITA No.1379 and 1380/Ahd/2009 and 13 Oth…

THA ADDL. CIT, RANGE-1,, BARODA vs. M/S. GUJARAT FLUROCHEMICALS LIMITED.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 106/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2010-11

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

…ther the assessee is to be termed as involving in the trading in shares or to be treated as a simplicitor investor, we would like to make reference to certain tests propounded by ITAT, Lucknow Bench in the case of Sarnath Infrastructure P.Ltd. Vs.ACIT, (2009) 120 TTJ 216. ITAT, Lucknow Bench has considered the issue, whether the assessee deserves to e treated as trader or investor. The following tests are worth to note. It reads as under: “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether ITA No.1379 and 1380/Ahd/2009 and 13 Oth…

GUJARAT FLUOROCHEMEICALS LTD,,BARODA vs. THE DY.CIT.,CIRCLE-1(1)(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 135/AHD/2015[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

…ther the assessee is to be termed as involving in the trading in shares or to be treated as a simplicitor investor, we would like to make reference to certain tests propounded by ITAT, Lucknow Bench in the case of Sarnath Infrastructure P.Ltd. Vs.ACIT, (2009) 120 TTJ 216. ITAT, Lucknow Bench has considered the issue, whether the assessee deserves to e treated as trader or investor. The following tests are worth to note. It reads as under: “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether ITA No.1379 and 1380/Ahd/2009 and 13 Oth…

THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT FLUROCHEMICALS LTD.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 2546/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2009-10

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

…ther the assessee is to be termed as involving in the trading in shares or to be treated as a simplicitor investor, we would like to make reference to certain tests propounded by ITAT, Lucknow Bench in the case of Sarnath Infrastructure P.Ltd. Vs.ACIT, (2009) 120 TTJ 216. ITAT, Lucknow Bench has considered the issue, whether the assessee deserves to e treated as trader or investor. The following tests are worth to note. It reads as under: “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether ITA No.1379 and 1380/Ahd/2009 and 13 Oth…

GUJARAT FLUROCHEMICALS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 2365/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2009-10

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

…ther the assessee is to be termed as involving in the trading in shares or to be treated as a simplicitor investor, we would like to make reference to certain tests propounded by ITAT, Lucknow Bench in the case of Sarnath Infrastructure P.Ltd. Vs.ACIT, (2009) 120 TTJ 216. ITAT, Lucknow Bench has considered the issue, whether the assessee deserves to e treated as trader or investor. The following tests are worth to note. It reads as under: “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether ITA No.1379 and 1380/Ahd/2009 and 13 Oth…

THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD vs. GANESH HOUSING CORPORATION LIMITED,, AHMEDABAD

In the result appeal of the Revenue is dismissed

ITA 3083/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2009-10

Bench: Shri Rajpal Yadav & Shri Amarjit Singh"नधा"रण वष"/ Asstt. Year: 2009-2010 Ganesh Housing Corporation Ltd. Dcit, Cir.2(1)(1) “Ganesh Corporate House” Navjivan Trust Bldg. Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. Pan : Aaacg 5590 Q With Co No.216/Ahd/2015 "नधा"रण वष"/ Asstt. Year: 2009-2010 Dcit, Cir.2(1)(1) Ganesh Housing Corporation Ltd. Navjivan Trust Bldg. “Ganesh Corporate House” Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. (Applicant) (Responent) : Shri Dhiren Shah, Ar Assessee By Revenue By : Shri C. Danday, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 19/09/2018 घोषणा क" तार"ख /Date Of Pronouncement: 23/10/2018 आदेश/O R D E R

For Respondent: Shri C. Danday, CIT-DR
Section 143(3)Section 148Section 253Section 4Section 40A(2)(b)

…nd expenditure incurred has been capitalized in investment accounts of the assessee, which establish the investment attitude of the assessee. 25. It is pertinent to observe that ITAT Lucknow Bench in the case of Sarnath Infrastructure (P) Ltd. v. ACIT (2009) 120 TTJ 216 has also considered issue whether an assessee deserves to be treated as a “trader” or “investor”. Though the issue involved in that case relates to investment/trading in shares, but broad principle carved out by the ITAT is applicable on all sorts of transactions, where adjudicator is required to find out whether transaction was entered into by t…

GANESH HOUSING CORPORATION LTD.,,AHMEDABAD vs. THE DY.CIT., CIRCLE-4, NOW, CIRCLE-2(1)(1),, AHMEDABAD

In the result appeal of the Revenue is dismissed

ITA 3034/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2009-10

Bench: Shri Rajpal Yadav & Shri Amarjit Singh"नधा"रण वष"/ Asstt. Year: 2009-2010 Ganesh Housing Corporation Ltd. Dcit, Cir.2(1)(1) “Ganesh Corporate House” Navjivan Trust Bldg. Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. Pan : Aaacg 5590 Q With Co No.216/Ahd/2015 "नधा"रण वष"/ Asstt. Year: 2009-2010 Dcit, Cir.2(1)(1) Ganesh Housing Corporation Ltd. Navjivan Trust Bldg. “Ganesh Corporate House” Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. (Applicant) (Responent) : Shri Dhiren Shah, Ar Assessee By Revenue By : Shri C. Danday, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 19/09/2018 घोषणा क" तार"ख /Date Of Pronouncement: 23/10/2018 आदेश/O R D E R

For Respondent: Shri C. Danday, CIT-DR
Section 143(3)Section 148Section 253Section 4Section 40A(2)(b)

…nd expenditure incurred has been capitalized in investment accounts of the assessee, which establish the investment attitude of the assessee. 25. It is pertinent to observe that ITAT Lucknow Bench in the case of Sarnath Infrastructure (P) Ltd. v. ACIT (2009) 120 TTJ 216 has also considered issue whether an assessee deserves to be treated as a “trader” or “investor”. Though the issue involved in that case relates to investment/trading in shares, but broad principle carved out by the ITAT is applicable on all sorts of transactions, where adjudicator is required to find out whether transaction was entered into by t…

UNITY ORGANICS PVT. LTD.,,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(2),, AHMEDABAD

In the result, the appeal of the assessee is dismissed

ITA 1265/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad14 Jun 2018AY 2012-13

Bench: The Hon'Ble Cit(A), Which Were Passed In The F.Y. 2007-08 To Justify The Intention Of Purchase Of Land

For Appellant: Shri Rohan Popat, A.RFor Respondent: Shri Prasoon Kabra, Sr. D.R
Section 143(2)Section 143(3)Section 28Section 36(1)(iii)

…ion while computing the income chargeable to tax u/s. 28 of the act. He has also submitted paper book containing written submission filed before the ld. CIT(A) referring judicial pronouncement of Lucknow ITAT in the case of Sharnath Infrastructure Ltd. (2009) 120 TTJ 216. On the other hand, ld. departmental representative has supported the order of ld. CIT(A). 6. We have heard the rival contentions and perused the material on record carefully. During the course of assessment proceedings, the assessing officer has disallowed interest expenses of Rs. 7,92,826/- claiming as incurred towards capital borrowed for the…

M/S. TECEE INVESTMENTS,,AHMEDABAD vs. THE ACIT, (OSD), CIRCLE-10,, AHMEDABAD

In the result, the appeal of the assessee is dismissed

ITA 1423/AHD/2015[2006-07]Status: DisposedITAT Ahmedabad24 Oct 2017AY 2006-07

Bench: Shri Rajpal Yadav & Shri N.K. Billaiyaआयकर अपील सं./ Ita No.1423/Ahd/2015 "नधा"रण वष"/Asstt. Year: 2006-2007

For Appellant: Shri S.N. Divetia, ARFor Respondent: Ms.Sonia Kumar, ACIT (DR)

…ut, whether assessee is to be termed as involving in the trading of shares or to be treated as a simplicitor investors. We would like to refer certain broad principle culled out by ITAT Lucknow Bench in the case of Sarnath Infrastructure Pvt. Ltd. reported in 120 TTJ 216. These tests read as under:- 6 “13. After considering above rulings we cull out following principles, which can be applied on the facts of a case to find out whether transaction(s) in question are in the nature of trade or are merely for investment purposes: (1) What is the intention of the assessee at the time of purchase of the shares (or any…

DCIT, NEW DELHI vs. SH. MAHESH KUMAR, NEW DELHI

In the result, the appeal of the department is dismissed

ITA 173/DEL/2012[2008-09]Status: DisposedITAT Delhi13 Dec 2016AY 2008-09

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 173/Del/2012 : Asstt. Year : 2008-09 Dcit, Vs Sh. Mahesh Kumar, Circle-21(1), C-13/170, Sector-3, Rohini, New Delhi Delhi-110085 (Appellant) (Respondent) Pan No. Aalpk4117B Assessee By : Sh. Ved Jain, Adv. Revenue By : Sh. P. Dum Kanunjna, Cit Dr Date Of Hearing : 16.09.2016 Date Of Pronouncement : 13.12.2016 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 17.10.2011 Of Ld. Cit(A)-Xxii, New Delhi.

For Appellant: Sh. Ved Jain, AdvFor Respondent: Sh. P. Dum Kanunjna, CIT DR
Section 143(1)Section 271A

…nt Commissioner of Income tax v Mrs Sheela Chiniwala [2011] 9 taxmann.com 279 (ITAT- Mumbai) " Commissioner of Income tax v Gulmohar Finance Limited 170 Taxman 483 High Court of Delhi " Sarnath Infrastructure (P) Limited v Assistant Commissioner of Income tax 120 TTJ 216 (ITAT- Lucknow) " Janak S Rangwalla v Assistant Commissioner of Income tax [2007] 11 SOT 627 (ITAT- Mumbai) " Vinod K Nevatia v Commissioner of Income tax (ITA No.6556/Mum/2009)(lTAT- Mumbai) " Gopal Purohit v Joint Commissioner of Income tax 2009 29 SOT 117 (ITAT, Mumbai) " Commissioner of Income tea v NSS Investment (P) Limited 158 Taxman 13 (H…

DEVJI N. PALANI,MUMBAI vs. ASST CIT 13(3), MUMBAI

In the result, both the appeals of the assessee are partly allowed as indicated above

ITA 3594/MUM/2012[2008-09]Status: DisposedITAT Mumbai17 Nov 2016AY 2008-09

Bench: Shri Mahavir Singh, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.3594/Mum/2012 & Ita No.7362/Mum/2013 (ननधधारण वषा / Assessment Years : 2008-09 & 2009-10) Shri Devji Nenshi Palani, बनधम/ The Asstt. Commissioner Of 207, Nimbus Trade Centre, Income Tax. 13(3), Vs. Opp. Malad Link Road, Aaykar Bhavan, Andheri (W), M.K. Marg, Mumbai-400 061 Mumbai-400 009 स्थधयी ऱेखध सं./ Pan :Aaapp8974E अपीऱार्थी ओर से / Assessee By Shri Jitendra Singh प्रत्यर्थी की ओर से/Revenue By Shri B S Bist सुनवाई की तारीख / Date Of Hearing : 22.09.2016 घोषणा की तारीख /Date Of Pronouncement :17.11.2016 आदेश / O R D E R Per Rajesh Kumar, Am These Appeals By The Assessee Are Directed Against The Order Dated 26.03.2012 & 28.10.2013 Of Cit(A), Mumbai For The A.Ys. 2008-09 & 2009- 10 Respectively. Since, The Appeals Before Us Relate To The Same Assessee, Therefore, For The Sake Of Convenience, They Are Clubbed Together, Heard Together & Disposed Of In This Consolidated Order.

Section 143(1)Section 143(2)

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “डी” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.3594/Mum/2012 And ITA No.7362/Mum/2013 (ननधधारण वषा / Assessment Years : 2008-09 and 2009-10) Shri Devji Nenshi Palani, बनधम/ The Asstt. Commissioner of 207, Nimbus Trade Centre, Income Tax. 13(3), Vs. Opp. Malad Link Road, Aaykar Bhavan, Andheri (W), M.K. Marg, Mumbai-400 061 Mumbai-400 009 स्थधयी ऱेखध सं./ PAN :AAAPP8974E अपीऱार्थी ओर से / Assessee by Shri Jitendra Singh प्रत्यर्थी की ओर से/Revenue by Shri B S Bist सुनवाई की तारीख…

PRINCIPLE COMMISSIONER OF INCOME TAX vs. SRI T V VENUGOPAL

ITA/327/2015HC Karnataka14 Jun 2016

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

Section 2(13)Section 260

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF JUNE 2016 PRESENT THE HON’BLE MR.JUSTICE JAYANT PATEL AND THE HON’BLE MR.JUSTICE B.SREENIVASE GOWDA ITA NO.325/2015 C/W ITA Nos.326, 327/2015 IN ITA 325/2015 BETWEEN: 1. PRINCIPLE COMMISSIONER OF INCOME TAX, C. R. BUILDING, BANGALORE. 2. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -2(1), BANGALORE . ... APPELLANTS (By SRI. JEEVAN J. NEERALGI, ADV. FOR SRI. E. I. SANMATHI, ADV.) AND: SRI. T. V. VENUGOPAL, NO.3911, 14TH CROSS, 9TH MAIN COR…

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Sarnath Infrastructure (P) Ltd. v. ACIT (120 TTJ 216) — Cited in 24 Judgments | BharatTax