“Section 56(2)(ib)”

Section References (mined)Section 56Section 56(2)(ib)6 judgments

SHALBY LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-4(1)(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed

ITA 1005/AHD/2023[2015-16]Status: DisposedITAT Ahmedabad16 Mar 2026AY 2015-16

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleassessment Year 2015-16

For Appellant: Shri Aseem Thakkar, A.RFor Respondent: Shri R P Rastogi, CIT-D.R

Section 143(3)Section 56(2)(ib)Section 56(2)(vii)Section 56(2)(viib)Section 68

fair value of equity of the assessee company worked out by an independent firm of chartered accountant. The assessee company also pointed that section 56(2)(ib) of the Act in respect of additional of securities premium charged in excess of fair value of shares. The amount charged as securities

DCIT CENTRAL CIRCLE-2, , COIMBATORE vs. M/S MARUTI ENTERPRISES, MUMBAI

In the result, both the appeals stand dismissed

ITA 395/CHNY/2023[2017-18]Status: DisposedITAT Chennai09 Oct 2024AY 2017-18

Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI (Judicial Member)

For Appellant: Shri Sridharan (Sr. Advocate), Shri Ravi SawanaFor Respondent: Shri R. Clement Ramesh Kumar (CIT) & Shri P

Section 115BSection 143(3)Section 194BSection 194GSection 2(24)(ix)Section 263Section 58(4)

आयकर अपीलीय अिधकरण ‘सी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी मनोज कुमार

DY. CIT, CENTRAL CIRCLE-2, , COIMBATORE vs. M/S POOJA MARKETING, MALAD

In the result, both the appeals stand dismissed

ITA 960/CHNY/2022[2015-16]Status: DisposedITAT Chennai09 Oct 2024AY 2015-16

Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member), SHRI MANU KUMAR GIRI (Judicial Member)

For Appellant: Shri Sridharan (Sr. Advocate), Shri Ravi SawanaFor Respondent: Shri R. Clement Ramesh Kumar (CIT) & Shri P

Section 143(3)Section 194BSection 1lSection 2(24)(ix)Section 263Section 56(2)(ib)Section 58

DY. CIT, CENTRAL CIRCLE-2, , COIMBATORE vs. M/S POOJA MARKETING, MALAD

In the result, both the appeals stand dismissed

ITA 958/CHNY/2022[2016-17]Status: DisposedITAT Chennai09 Oct 2024AY 2016-17

Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member), SHRI MANU KUMAR GIRI (Judicial Member)

For Appellant: Shri Sridharan (Sr. Advocate), Shri Ravi SawanaFor Respondent: Shri R. Clement Ramesh Kumar (CIT) & Shri P

Section 143(3)Section 194BSection 1lSection 2(24)(ix)Section 263Section 56(2)(ib)Section 58

DCIT 41(4)(1), MUMBAI, MUMBAI vs. LOTUS MARKETING , MUMBAI

ITA 604/MUM/2024[2016-17]Status: DisposedITAT Mumbai28 May 2024AY 2016-17

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 115BSection 56(2)(ib)

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON'BLE ACCOUNTANT MEMBER AND

INSUREKOT SPORTS P LTD,MUMBAI vs. DY CIT,CPC, MUMBAI

In the result, appeal by the assessee stands allowed

ITA 1075/MUM/2021[2017-18]Status: DisposedITAT Mumbai25 Mar 2022AY 2017-18

Bench: Learned Cit(A). Learned Cit(A) Noted The Facts Of The Case & Assessee’S Submission As Under :- “Assessee Has Availed Of A Franchiseeship Of Team Puneri Paltan Which Is A Participating Team In The Pro Kabaddi League Organized By Mashal Sports Private Limited. During Fy 2016 17 Ay 2017 18 It Received Prize Money Of Rs 3000000 Being The Third Placed Team Of The Event. The Same Is Accounted & Shown Under The Revenue From Operations As Prize Money. The Same Is 2 Insurekot Sports Pvt. Ltd.

Section 115BSection 143Section 143(1)Section 2(24)(ix)Section 56(2)(ib)

These grounds agitate the treatment of Rs 30,00,000/-, as income from other sources by reading it u/s 115BB, rw section 56(2)(ib) and section 2(24)(ix) of the Act. The appellant has agitated this treatment on grounds of merit as well as for the reason that ... winnings of the game of Kabaddi. Once it is admitted that this is a fact then the application of section 115BB rw section 56(2)(ib) and 2(24)((ix) is automatic where once again the same phraseology has been used to stipulate that the said amounts would be treated