Shri Nidhi Corporation v. ACIT

151 ITD 470Income Tax Appellate Tribunal2014#16850 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2022.

Judgments citing Shri Nidhi Corporation v. ACIT

ALF ENGINEERING PRIVATE LIMITED,MUMBAI vs. PR CIT-MUMBAI-4, MUMBAI

ITA 760/MUM/2022[2017-18]Status: DisposedITAT Mumbai20 Sept 2022AY 2017-18

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2017-18

For Appellant: Shri Jitendra Singh, A.RFor Respondent: Shri Rajesh Damor, D.R

Section 143(3)Section 263Section 37Section 37(1)

…mitted in the case of M/s Suri Sons as contained in para d and e 6 M/s. ALF Engineering Pvt. Ltd. were not considered, we find that in para d as noted by the Hon’ble Tribunal the objection of learned DR was that the decision of Sh. Nidhi Corporation vs. ACIT 151 ITD 470 was not applicable as in that case the assessee was given the liberty to choose the investment plan whereas no such option was available to the assessee in the present case. In this respect, we find that in the case of Sh. Nidhi Corporation also, the assessee had taken Keyman Insurance Policies on the life of partners and Hon’ble Tribunal had hel…

INCOME TAX OFFICER 2(1)(1), MUMBAI vs. AAA TECHNOLOGIES PRIVATE LIMITED, MUMBAI

In the result the appeal filed by the revenue is dismissed

ITA 400/MUM/2018[2014-15]Status: DisposedITAT Mumbai29 Jul 2019AY 2014-15

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2014-15 Income Tax Officer- M/S Aaa Technologies 2(1)(1), Room No. 543, Pvt. Ltd. 5, Apeejay Vs. 5Th Floor, Aayakar House, Ground Floor, Bhavan, M.K. Road, 130, Bombay Samachar Mumbai-400020. Marg, Fort, Mumbai- 400023. Pan No. Aadca8858Q Appellant Respondent C.O. No. 144/Mum/2019 (Ita No. 400/Mum/2018) Assessment Year: 2014-15 M/S Aaa Technologies Income Tax Officer- Pvt. Ltd. 5, Apeejay 2(1)(1), Room No. 543, Vs. House, Ground Floor, 130, 5Th Floor, Aayakar Bombay Samachar Marg, Bhavan, M.K. Road, Fort, Mumbai-400023. Mumbai-400020. Pan Noaadca8858Q Appellant Respondent Revenue By : Mr. Maurya Pratap, Dr Assessee By : Mr. Shubham Rathi, Ar Date Of Hearing : 06/06/2019 Date Of Pronouncement : 29/07/2019

For Appellant: Mr. Shubham Rathi, ARFor Respondent: Mr. Maurya Pratap, DR

Section 10Section 143(3)Section 195Section 40

…s liable to be deducted and hence the provisions of section 40(a)(i) would not be applicable. 6.2 Regarding the disallowance of Rs.5,00,000/- made by the AO towards keyman insurance policy, the Tribunal following the decision in Shri Nidhi Corporation v. ACIT 151 ITD 470 (Bom), Ambica Overseas v. ACIT [ITA No. 45/ASR/2010 dated 31.08.2015], Suri Sons v. ACIT 155 ITD 825 (Amritsar), F.C. Sondhi & Co. (India) Pvt. Ltd. v. DCIT in ITA No. 117/ASR/2010 dated 27.11.2015, upheld the order of the Ld. CIT(A) and rejected the grounds raised by the revenue. 6.3 Facts being identical, we follow the above order of the Co-ord…

ITO 2(1)(1), MUMBAI vs. AAA TECHNOLOGIES P.LTD, MUMBAI

ITA 3455/MUM/2017[2012-13]Status: DisposedITAT Mumbai17 May 2019AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri Vipul JoshiFor Respondent: Shri Abdul Hakeem M

Section 143(3)Section 148

…liance on the order of the Ld.CIT(A). Further, Ld. Counsel for the assessee placed reliance on the following decisions in support of his submissions that the premium paid on Keyman Insurance Policy is an allowable deduction: a. Shri Nidhi Corporation v. ACIT [151 ITD 470 (BOM)] b. Ambica Overseas v. ACIT [ITA.No. 45/ASR/2010 dated 31.08.2015. c. Suri Sons v. ACIT [155 ITD 825 (Amritsar)]. d. F.C. Sondhi & Co. (India) Pvt. Ltd., v. DCIT in ITA.No. 117/ASR/2010 dated 27.11.2015. 17. The Ld. Counsel for the assessee further submitted that in the decision of F.C. Sondhi & Co. (India) (P) Ltd relied by the Assessing O…

ITO 2(1)(1), MUMBAI vs. AAA TECHNOLOGIES P.LTD, MUMBAI

ITA 3454/MUM/2017[2009-10]Status: DisposedITAT Mumbai17 May 2019AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri Vipul JoshiFor Respondent: Shri Abdul Hakeem M

Section 143(3)Section 148

ARCADIA SHARE & STOCK BROKERS P.LTD,MUMBAI vs. ADDL CIT RG 4(1), MUMBAI

In the result, assessee’s appeals are allowed

ITA 5854/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Apr 2018AY 2011-12

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Dr. K. Shivram a/w Ms. Neelam JadhavFor Respondent: Shri Saurabh Kumar Rai

Section 10Section 143(3)Section 37(1)

…. In support of his contention, the learned Authorised Representative relied upon the following decisions:– 6 M/s. Arcadia Share & Stock Brokers Pvt. Ltd. i) Pharma Search v/s ACIT, [2012] 53 SOT 1 (Mum.) (Trib.); ii) Shri Nidhi Corporation v/s ACIT, [2014] 151 ITD 470 (Mum.) (Trib.); iii) ITO v/s Macropolo Products P. Ltd. ITA no.1390/Mum./2013 dated 06.05.2016; and iv) CIT v/s Agarwal Enterprises, [2015] 374 ITR 240 (Bom.). 5. The learned Departmental Representative strongly supporting the decisions of the Departmental Authorities submitted that the onus is on the assessee to prove that the persons in whose…