Workmen of Associated Rubber Industry Ltd. v. Associated Rubber

157 ITR 77Supreme Court of India1986#2531 most cited

What is Workmen of Associated Rubber Industry Ltd. v. Associated Rubber authority for?

The Supreme Court holds that courts must look beyond the form to the substance of a transaction to discover the true state of affairs, especially when ingenuity is used to avoid tax and welfare legislations.

46

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

Workmen of Associated Rubber Industry Ltd. · 157 ITR 77 · SC 1986 · substance over form · tax avoidance · look behind the smoke screen · true state of affairs · section 271(1)(c) · section 54F · court's duty · income tax evasion

Sections most often in play

Section 271(1)(c)Section 54F

Issues it is cited on

section 31paper companysection 251(2)share capital and share premiumsource of sourcecreditworthiness of the creditorsection 251(1)(a)live linksection 127(2)admission of additional evidenceentry operatorshare application money

Judgments citing Workmen of Associated Rubber Industry Ltd. v. Associated Rubber

DCIT, NEW DELHI vs. SH. NIRANJAN KOIRALA,, NEW DELHI

In the result, appeal of the Revenue is dismissed

ITA 2253/DEL/2010[2006-07]Status: DisposedITAT Delhi19 Aug 2025AY 2006-07

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.2253/िद"ी/2010(िन.व. 2006-07) Deputy Commissioner Of Income Tax, Circle-31(1), R. No. 1405, 14Th Floor, E-2 Block, Pratyakshkar Bhawan, Civic Centre, Jln Marg, ...... अपीलाथ"/Appellant New Delhi बनाम Vs. Niranjan Koirala, 27, Akbar Road, New Delhi ..... "ितवादी/Respondent Pan: Aaupk-0483-B Assessee By : Shri Tarandeep Singh, Advocate Department By : Shri Manoj Kumar, Sr. Dr सुनवाई क" ितिथ/ Date Of Hearing : 23.05.2025 घोषणा क" ितिथ/ Date Of Pronouncement : : 19.08.2025 आदेश/Order Per Vikas Awasthy, Jm: This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-Xxx, New Delhi (Hereinafter Referred To As 'The Cit(A)') Dated 18.02.2010, For Assessment Year 2006-07. 2. This Appeal Was Decided By The Tribunal Vide Order Dated 20.07.2018. Thereafter, The Revenue Filed Miscellaneous Application Seeking Rectification In The Order Of Tribunal On The Ground That The Additional Grounds Of Appeal Raised By The Revenue Vide Application Dated 13.08.2014 Remained To Be Decided. The Tribunal In Ma No. 732/Del/2018 Vide Order Dated 10.07.2023 Recalled The Order

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Shri Manoj Kumar, Sr. DR
Section 54F

…h include Twinstar Holdings Ltd. Vs. DCIT (2003) 260 ITR; R.Krishnamurthy Vs. CIT (2003) 261 ITR 623(Mad); Bhagat Construction Co.(P) Ltd Vs. CIT(2001) 250 /TR 291 (Delhi;, Workmen of Association Rubber Industry Ltd. Vs. Associated Rubber Industry Ltd. (1986) 157 ITR 77 (SC;, Mittal Belting and Machinery Stores Vs. CIT (2002) 253 ITR 341 (P&H), Avasasala Automation Ltd. Vs. JCIT (2004) 266 ITR 178 (Kar.). 2.6 A show cause letter was issued to the assessee on 21.10.2008 asking him to explain as to why the claim of deduction u/s 54F may not be rejected. Assessee has filed his reply on 3.11.2008. The reply of the as…

BARMINCO INDIAN UNDERGROUND MINING SERVICES LLP,DELHI vs. DCIT, CIRCLE-28(1), DELHI

In the result, appeal of the Revenue is dismissed

ITA 2253/DEL/2022[2020-21]Status: DisposedITAT Delhi04 Apr 2025AY 2020-21

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.2253/िद"ी/2010(िन.व. 2006-07) Deputy Commissioner Of Income Tax, Circle-31(1), R. No. 1405, 14Th Floor, E-2 Block, Pratyakshkar Bhawan, Civic Centre, Jln Marg, ...... अपीलाथ"/Appellant New Delhi बनाम Vs. Niranjan Koirala, 27, Akbar Road, New Delhi ..... "ितवादी/Respondent Pan: Aaupk-0483-B Assessee By : Shri Tarandeep Singh, Advocate Department By : Shri Manoj Kumar, Sr. Dr सुनवाई क" ितिथ/ Date Of Hearing : 23.05.2025 घोषणा क" ितिथ/ Date Of Pronouncement : : 19.08.2025 आदेश/Order Per Vikas Awasthy, Jm: This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-Xxx, New Delhi (Hereinafter Referred To As 'The Cit(A)') Dated 18.02.2010, For Assessment Year 2006-07. 2. This Appeal Was Decided By The Tribunal Vide Order Dated 20.07.2018. Thereafter, The Revenue Filed Miscellaneous Application Seeking Rectification In The Order Of Tribunal On The Ground That The Additional Grounds Of Appeal Raised By The Revenue Vide Application Dated 13.08.2014 Remained To Be Decided. The Tribunal In Ma No. 732/Del/2018 Vide Order Dated 10.07.2023 Recalled The Order

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Shri Manoj Kumar, Sr. DR
Section 54F

…h include Twinstar Holdings Ltd. Vs. DCIT (2003) 260 ITR; R.Krishnamurthy Vs. CIT (2003) 261 ITR 623(Mad); Bhagat Construction Co.(P) Ltd Vs. CIT(2001) 250 /TR 291 (Delhi;, Workmen of Association Rubber Industry Ltd. Vs. Associated Rubber Industry Ltd. (1986) 157 ITR 77 (SC;, Mittal Belting and Machinery Stores Vs. CIT (2002) 253 ITR 341 (P&H), Avasasala Automation Ltd. Vs. JCIT (2004) 266 ITR 178 (Kar.). 2.6 A show cause letter was issued to the assessee on 21.10.2008 asking him to explain as to why the claim of deduction u/s 54F may not be rejected. Assessee has filed his reply on 3.11.2008. The reply of the as…

KANGRA VALLEY GARDEN HOTELS PRIVATE LIMITED,KANGRA vs. INCOME TAX OFFICER, WARD DHARAMSHALA, HIMACHAL PRADESH, DHARAMSHALA

Appeal of the assessee is allowed as and by

ITA 602/CHANDI/2024[2015-16]Status: DisposedITAT Chandigarh18 Dec 2024AY 2015-16

Bench: This Tribunal As & By Way Of Second Appeal.

For Appellant: Shri Mayank Aggarwal, AdvocateFor Respondent: Shri Rohit Sharma, CIT DR (Virtual)
Section 127(2)Section 142(1)Section 143(2)Section 250Section 253

…ligation of every citizen to pay the taxes honestly without resorting to subterfuges". (v) Another important decision of the Supreme Court in this regard is the case of Workmen or - Associated Rubber Industry Ltd. Vs. Associated Rubber Industry Ltd. [1986] 157 ITR 77 (SC), where the Court held thus: "It is duty of the court, in every case where ingenuity is expended to avoid taxing and welfare legislations, to get ITA Nos. 600,601 & 602/CHD/2024 A.Y. 2013-14, 2014-15 & 2015-16 15 behind the smoke screen and discover the true state of affairs. The Court is not to be satisfied with form and leave well alone…

KANGRA VALLEY GARDEN HOTELS PRIVATE LIMITED,KANGRA vs. INCOME TAX OFFICER, WARD DHARAMSHALA, HIMACHAL PRADESH, DHARAMSHALA

Appeal of the assessee is allowed as and by

ITA 601/CHANDI/2024[2014-15]Status: DisposedITAT Chandigarh18 Dec 2024AY 2014-15

Bench: This Tribunal As & By Way Of Second Appeal.

For Appellant: Shri Mayank Aggarwal, AdvocateFor Respondent: Shri Rohit Sharma, CIT DR (Virtual)
Section 127(2)Section 142(1)Section 143(2)Section 250Section 253

…ligation of every citizen to pay the taxes honestly without resorting to subterfuges". (v) Another important decision of the Supreme Court in this regard is the case of Workmen or - Associated Rubber Industry Ltd. Vs. Associated Rubber Industry Ltd. [1986] 157 ITR 77 (SC), where the Court held thus: "It is duty of the court, in every case where ingenuity is expended to avoid taxing and welfare legislations, to get ITA Nos. 600,601 & 602/CHD/2024 A.Y. 2013-14, 2014-15 & 2015-16 15 behind the smoke screen and discover the true state of affairs. The Court is not to be satisfied with form and leave well alone…

KANGRA VALLEY GARDEN HOTELS PRIVATE LIMITED,KANGRA vs. INCOME TAX OFFICER, WARD DHARAMSHALA, HIMACHAL PRADESH, DHARAMSHALA

Appeal of the assessee is allowed as and by

ITA 600/CHANDI/2024[2013-14]Status: DisposedITAT Chandigarh18 Dec 2024AY 2013-14

Bench: This Tribunal As & By Way Of Second Appeal.

For Appellant: Shri Mayank Aggarwal, AdvocateFor Respondent: Shri Rohit Sharma, CIT DR (Virtual)
Section 127(2)Section 142(1)Section 143(2)Section 250Section 253

…ligation of every citizen to pay the taxes honestly without resorting to subterfuges". (v) Another important decision of the Supreme Court in this regard is the case of Workmen or - Associated Rubber Industry Ltd. Vs. Associated Rubber Industry Ltd. [1986] 157 ITR 77 (SC), where the Court held thus: "It is duty of the court, in every case where ingenuity is expended to avoid taxing and welfare legislations, to get ITA Nos. 600,601 & 602/CHD/2024 A.Y. 2013-14, 2014-15 & 2015-16 15 behind the smoke screen and discover the true state of affairs. The Court is not to be satisfied with form and leave well alone…

M/S. KOPRAN LTD,MUMBAI vs. DCIT -7(1) , MUMBAI

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

ITA 501/MUM/2022[2014-15]Status: DisposedITAT Mumbai21 Nov 2022AY 2014-15

Bench: Shri Prashant Maharishi, Am & Shrisandeep Singh Karhail, Jm M/S Kopran Ltd. 1St Floor, Parijat House, The Dcit–7(1) 1076, Mumbai Vs. Dr. E Moses Road,Worli, Mumbai-400 018 (Respondent) (Appellant) Pan No. Aaack3202D Assessee By : S/Shri Vijay Mehta & Bhupendra Karkhanis, Ars Revenue By : Shri Tejinder Pal Singh, Dr Date Of Hearing: 23.08.2022 Date Of Pronouncement : 21.11.2022

For Appellant: S/Shri Vijay Mehta &For Respondent: Shri Tejinder Pal Singh, DR
Section 133Section 143Section 68

…ok into the surrounding circumstances to find out the reality of the recitals made in the documents: The most important decision of the Supreme Court in this regard is the case of Workmen of Associated Rubber Industry Ltd. Vs. Associated Rubber Industry Ltd., 157 ITR 77 (SC). 3. in view of the above facts you are hereby show casued as to why the unsecured loans of Rs. 2,00,00,000/- Rs. 50,00,000/- from each parties) should not be treated as sham transaction and added to the total income as unexplained credit u/s 68 of the 1.T. Act 3.3 In response to the show cause notice the assessee vide its letter dated 29.12…

ASHISH MANOJ BHATIA,AHMEDABAD vs. DCIT, CIRLCE-4(2), AHMEDABAD

In the result, the appeal of the assessee is dismissed

ITA 338/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad28 Sept 2022AY 2015-16

Bench: Smt.Annapurna Guptaasstt.Year : 2015-16 Ashish Manoj Bhatia Dcit, Cir.4(2) 10, Kameshwardev Society Vs Ahmedabad. Opp: Kishan Bungalows Bodakdev, Ahmedabad. Pan : Ahspb 1199 E

For Appellant: NoneFor Respondent: Shri Mukesh Thawani
Section 10(38)Section 132(1)Section 250(6)

…t have regard to substance of the matter and if necessary to tear the veil in order to see whether the true character of a payment was something other than what by a clever device of drafting it was made to appear." Workmen vs. Associated Rubber Industries - 157 ITR 77 (SC): "It is duty of the Court in every case where ingenuity is expressed to avoid taxing and welfare legislation to get behind the smoke screen and discover the true state of affairs." In view of the ratio laid down by the Apex Court in various case laws (supra) and the facts of the case, I am convinced with the findings of AO and don't intend…

J.C.I.D.(OSD),CIRCLE-32, KOLKATA vs. SRI ADITYA KUMAR SINGHANIA, KOLKATA

In the result, the appeal of the Revenue is dismissed

ITA 268/KOL/2020[2016-17]Status: HeardITAT Kolkata16 Jun 2022AY 2016-17

Bench: Sri Manish Borad & Sri Sonjoy Sarma

Section 10Section 143(2)Section 143(3)Section 250

…8 as the AO mentioned in his/her Asstt. Ord. 4) The ld. CIT(A) erred in law as well as facts by not considering the ratio of the decision of Hon’ble Supreme Court in case of Workmen of Associated Rubber Industry Ltd. vs. Associated Rubber Industry Ltd. [1986] 157 ITR 77 as the AO mentioned in his/her Asstt. Ord. 5) The ld. CIT(A) erred in law as well as facts by not considering the ratio of the decision of Hon’ble Supreme Court in case of CIT vs. Durga Prasad More (1971) 82 ITR 540 as the AO mentioned in his/her Asstt. Ord. Page 2 of 14 I.T.A. No.: 268/Kol/2020 Assessment Year: 2016-17 Sri Aditya Kumar Singhani…

SHRI RAMSANGBHAI BACHUBHAI SOLANKI,,AHMEDABAD vs. ITO, WARD-6(3), , AHMEDABAD

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

ITA 317/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad02 Mar 2022AY 2011-12

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2011-12 Shri Ramsangbhai Bachubhai Solanki, Income-Tax Officer, 299, Rajput Vas, Darbar Vas, Vs Ward 7(3), Rethal, Tal: Sanand, Ahmedabad Dist. Ahmedabad- 382210 Pan : Bwgps 3056 P अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : None Revenue By : Shri V.K. Singh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 24/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 02/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-:

For Appellant: NoneFor Respondent: Shri V.K. Singh, Sr DR
Section 142(1)Section 143(2)Section 144

…The name given to a transaction by the parties concerned does not necessarily decide the nature of the transaction, the question always is what is the real character of the transaction and not what parties call it." Workmen vs. Associated Rubber Industries - 157 ITR 77 (SC): "It is duty of the Court in every case where ingenuity is expressed to avoid taxing and welfare legislation to get behind the smoke screen and discover the true state of affairs." In view of the ratio laid down by the Apex Court in various case laws (supra) and the facts of the case, I am convinced with the findings of AO and don't intend t…

SHRI RAMASWAMY SHIVARAMAN,,CHENNAI vs. ACIT, CC - 1 (1),, CHENNAI

ITA 571/CHNY/2020[2016-17]Status: DisposedITAT Chennai17 Dec 2021AY 2016-17

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकरअपीलसं./Ita No.571/Chny/2020 िनधा"रणवष"/Assessment Year: 2016-17

Section 54F

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI "ीवी. दुगा" राव,"ाियकसद"एवं "ीजी. मंजूनाथा, , लेखासद"केसम" BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No.571/Chny/2020 िनधा"रणवष"/Assessment Year: 2016-17 v. Mr.Ramaswamy Shivaraman, The Asst. Commissioner of 144/15, Kailash Colony, Income Tax, Anna Nagar West, Corporate Circle-1(1), Chennai-600 101. Chennai. [PAN: BZOPS 3579 J] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant by Mr.B. Ramakrishnan, CA : ""यथ" क" ओर से /Respondent by Mr.AR.V…

KASPER INFORMATION TECHNOLOGY PVT. LTD.,NEW DELHI vs. ITO WARD-14(2), NEW DELHI

ITA 9357/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

ITO WARD - 14(2), NEW DELHI vs. KASPER INFORMATION TECHNOLOGY PVT LTD, NEW DELHI

ITA 9287/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

ITO WARD - 13(3), NEW DELHI vs. JINGLE BELLS ALUMINIUM PVT. LTD., NEW DELHI

ITA 5527/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

JINGLE BELLS ALUMINIUM,NEW DELHI vs. ITO WARD - 13(3), NEW DELHI

ITA 5397/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

KASPER INFORMATION TECHNOLOGY P.LTD,NEW DELHI vs. ITO, WARD-14(2), NEW DELHI

ITA 510/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

LANDSKY REAL ESTATES P.LTD,NEW DELHI vs. ITO, WARD-15(1), NEW DELHI

ITA 509/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

ITO, WARD-7(1), NEW DELHI vs. DELIGHT RESORTS P.LTD, GHAZIABAD

ITA 6401/DEL/2017[2014-15]Status: DisposedITAT Delhi18 Mar 2021AY 2014-15

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

ITO, WARD-7(1), NEW DELHI vs. DELIGHT RESORTS P.LTD, NEW DELHI

ITA 5974/DEL/2017[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

M/S GLOBUS REAL INFRA PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

ITA 2920/DEL/2017[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

ACIT, NEW DELHI vs. M/S. STAR LIGHT CONSUMER ELECTRONICS PVT. LTD., NEW DELHI

ITA 6070/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…McDowell & Co Ltd. [1985] beneficiary of the transactions but there is 154 ITR 148 • routing of funds from Workmen of Associated Bhushan Steel Ltd. The Rubber Industry Ltd V funds received are given Associated Rubber Industry to other companies as Ltd [1986] 157 ITR 77 (SC) • soon as they are CIT V Durga Prasad More 82 received(Page – 36, Para ITR 540 (SC) • 7.9 – CIT(A)’s order) Bombay Oil Industries Ltd V  Therefore, the CIT(A) DCIT [2000] 82 ITD 626 has deleted addition of • CIT V Sree Meenakshi Mills Rs. 73.5 crores and Ltd 63 ITR 609 made addition of Rs. • CIT V Precision Finance Ltd 1.74 crores @ 2 percen…

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