Vaani Estates (P) Ltd. v. ITO

103 Taxmann.com 15Reported decision2019#16419 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2019 to 2025.

Sections most often in play

Section 11UA Section 56(2)(viib)Section 68 Section 142(1)Section 143(2)Section 143(3)

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Issues it is cited on

nav method dcf method section 56(2)(viib)valuation of shares section 56(2)fair market value section 56 genuineness of the transaction prescribed person company india

Judgments citing Vaani Estates (P) Ltd. v. ITO

M/S. Ambattur Developers Pvt. Ltd., Chennai vs. ITO, Corporate Ward-1(1), Chennai

ITA 2601/CHNY/2024[2015-16]Status: DisposedITAT Chennai11 Nov 2025AY 2015-16

Bench: Shri Manu Kumar Giri & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 2601/Chny/2024 निर्धारण वर्ष / Assessment Year: 2015-16 M/S. Ambattur Developers Private Limited, (Amalgamated With Ambattur Hotels Private Limited) No. 86/E2, Industrial Estate, Ambattur, Chennai - 600 058. Tamil Nadu. [Pan: Aaeca-7490-D] (अपीलार्थी/Appellant) Income Tax Officer, Vs. Corporate Ward- 1(1), Chennai. (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/Appellant By प्रत्यर्थी की ओर से/Respondent By : Shri. R. Vijayaraghavan, Advocate : Shri. Bipin, C.N., Cit सुनवाई की तारीख /Date Of Hearing घोषणा की तारीख/Date Of Pronouncement : 09.09.2025 : 11.11.2025 आदेश /Order Per S.R.Raghunatha, Am : This Appeal By The Assessee Is Filed Against The Order Of The Learned Commissioner Of Income Tax (Appeal), Nfac, Delhi, (In Short Ld.Cit(A)) For The Assessment Year 2015-16, Vide Order Dated 12.08.2024. 2. The Grounds Raised By The Assessee Are As Follows: :-2-:

For Respondent: Shri. R. Vijayaraghavan, Advocate

Section 50CSection 56(2)(vii)

…आयकर अपीलीय अधिकरण, 'सी' न्यायपीठ, चेन्नई IN THE INCOME TAX APPELLATE TRIBUNAL 'C' BENCH, CHENNAI श्री मनु कुमार गिरि, न्यायिक सदस्य एवं श्री एस. आर. रघुनाथा, लेखा सदस्य के समक्ष BEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND SHRI S.R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 2601/Chny/2024 निर्धारण वर्ष / Assessment Year: 2015-16 M/s. Ambattur Developers Private Limited, (Amalgamated with Ambattur Hotels Private Limited) No. 86/E2, Industrial Estate, Ambattur, Chennai - 600 058. Tamil Nadu. [PAN: AAECA-7490-D] (अपीलार्थी/Appellant) Income Tax Officer, vs. Corporate Ward- 1(1), Chennai. (प्रत्यर्थी/…

Income Tax Officer, New Delhi vs. Ninecube Technologies Pvt. Ltd., New Delhi

ITA 3186/DEL/2024[2016-17]Status: DisposedITAT Delhi31 Jul 2025AY 2016-17

Bench: Ms. Madhumita Roy & Shri Amitabh Shuklaassessment Year: 2016-17

Section 11USection 143(2)Section 143(3)Section 56(2)Section 56(2)(viib)

…1 A.Y. 2016-17 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “E”: NEW DELHI BEFORE MS. MADHUMITA ROY , JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER Assessment year: 2016-17 Income Tax Officer, Vs Ninecube Technologies Pvt. Ltd. New Delhi. C-112, Defence Colony, New Delhi- 110024. PAN: AACCN 6458 J APPELLANT RESPONDENT Assessee represented by Dr. Rakesh Gupta, Adv.; & Shri Somil Agarwal, Adv.; & Shri Saksham Agarwal, CA Department represented by Shri Manoj Tiwari, Sr. DR Date of hearing 29.07.2025 Date of pronouncement O R D E R PER AMITABH SHUKLA, A.M: This appeal, preferred by the Revenue f…

Ipsaa Holdings Private Limited, Gurgaon vs. ACIT Circle 4(1), Gurgaon

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

ITA 2720/DEL/2023[2017-18]Status: DisposedITAT Delhi23 Jul 2025AY 2017-18

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

For Appellant: Dr. Rakesh Gupta, AdvocateFor Respondent: Shri Om Prakash, Sr. DR

Section 56

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’: NEW DELHI BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI VIMAL KUMAR, JUDICIAL MEMBER IPSAA Holdings Private Limited, vs. ACIT, Circle 4 (1), 21 A, J Block, Mayfield Garden, Gurugram. Sector 51, Gurugram – 122 018 (Haryana). (PAN : AADCI2179Q) (APPELLANT) (RESPONDENT) ASSESSEE BY : Dr. Rakesh Gupta, Advocate Shri Shrey Jain, Advocate Shri Deepesh Garg, Advocate REVENUE BY : Shri Om Prakash, Sr. DR Date of Hearing : 04.06.2025 Date of Order : 23.07.2025 O R D E R PER S.RIFAUR RAHMAN, ACCOUNTANT MEMBER : 1. This appeal is filed by the assessee agains…

Income Tax Officer-13(1)(3), Mumbai vs. Shri Rajeev R. Tulshyan, Mumbai

Appeal stand dismissed

ITA 5748/MUM/2017[2014-15]Status: DisposedITAT Mumbai01 Oct 2021AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील िं./ I.T.A. No.5748/Mum/2017 (धििाारण वर्ा / Assessment Year: 2014-15) Income Tax Officer-13(1)(3) Shri Rajeev Ratanlal Tulshyan 2Nd Floor, Room No.225 बिाम 4101, 4Th Floor, C-Wing Aaykar Bhavan, M.K. Road Lodha Bellissimo, J.B. Boricha Marg / Vs. Mumbai-400 020 Lower Parel, Mumbai-400 011 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Abopt-2790-D (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & Cross Objection No.118/Mum/2018 (Arising Out Of I.T.A. No.5748/Mum/2017) (धििाारण वर्ा / Assessment Year: 2014-15) Shri Rajeev Ratanlal Tulshyan Income Tax Officer-13(1)(3) 4101, 4Th Floor, C-Wing 2Nd Floor, Room No.225 बिाम/ Lodha Bellissimo, J.B. Boricha Marg Aaykar Bhavan, M.K. Road Vs. Lower Parel, Mumbai-400 011 Mumbai-400 020. स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Abopt-2790-D (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Rushabh Mehta- Ld.Ar Revenue By : Shri Gaurav Batham-Ld. Cit-Dr ुनवाई की तारीख/ : 22/07/2021 Date Of Hearing घोषणा की तारीख / : 01/10/2021 Date Of Pronouncement

For Appellant: Shri Rushabh Mehta- Ld.ARFor Respondent: Shri Gaurav Batham-Ld. CIT-DR

Section 143(3)Section 56(2)(vii)

…same would only be to the extent of the disproportionate allotment and, further, by suitably factoring in the decline in the value of the existing holding. 4.2 Applying the ratio of above decision, coordinate bench of Mumbai Tribunal in ACIT V/s Subodh Menon (103 Taxmann.com 15), observed that the provisions of Section 56(2)(vii) does not apply to bona-fide business transaction. The CBDT Circular No.1/2011 dated 06/04/2011 explaining the provision of section 56(2)(vii) specifically states that the section was inserted as a counter evasion mechanism to prevent money laundering of unaccounted income. In paragraph 1…

Vijay Aggarwal, Delhi vs. ITO, Ward- 48(5), New Delhi

In the result, all the appeals of different assessees are partly allowed

ITA 1077/DEL/2019[2010-11]Status: DisposedITAT Delhi30 May 2019AY 2010-11

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahuassessment Year: 2010-11

Section 147Section 148Section 56(2)(vii)Section 68

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘A’, New Delhi Before : Shri Bhavnesh Saini, Judicial Member And Shri L.P. Sahu, Accountant Member Assessment Year: 2010-11 Shri Vijay Agarwal, C-169, vs. Income-tax Officer, Pushpanjali enclave, Pritampura, Ward 48(5), New Delhi Delhi (PAN- AFSPA8080P) (Appellant) (Respondent) Assessment Year: 2010-11 Shri Raj Gupta, C-169, Pushpanjali vs. Income-tax Officer, enclave, Pritampura, Delhi Ward 48(5), New Delhi (PAN- AGSOG2661F) (Appellant) (Respondent) Assessment Year: 2010-11 Smt. Sheela Devi, 1756, Nai Basti vs. Income-tax Officer, Naya Bazar, Delhi Ward 47…