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“person who has a substantial interest in the company”

Chapter I - PreliminarySection 2 - DefinitionsSection 2(32)20 judgments

RANJIT SINGH,PANCHKULA vs. DEPUTY DIRECTOR, CPC DEPARTMENT

ITA 992/CHANDI/2025[2023-24]Status: DisposedITAT Chandigarh11 Nov 2025AY 2023-24

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

ARJESH KUMAR,PATIALA vs. ITO NATIONAL E-ASSESSMENT CENTRE , DELHI

ITA 876/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh11 Nov 2025AY 2018-19
For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

INCOME TAX OFFICER, FATEHABAD vs. MAHESH NAGPAL, FATEHABAD

ITA 531/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh11 Nov 2025AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

BALBIR KUMAR HUF,CHANDIGARH vs. ITO , CHANDIGARH

ITA 172/CHANDI/2024[2017-18]Status: DisposedITAT Chandigarh11 Nov 2025AY 2017-18

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

PAWAN KUMAR,FATEHABAD vs. INCOME TAX OFFICER WARD-1, FATEHABAD

ITA 1112/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh11 Nov 2025AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

ITA 566/CHANDI/2023[2015-16]Status: DisposedITAT Chandigarh11 Nov 2025AY 2015-16

Bench: BEFORE: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

ITA 565/CHANDI/2023[2014-15]Status: DisposedITAT Chandigarh11 Nov 2025AY 2014-15

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

SAROJ CHAUDHARY BALA,PANCHKULA vs. ITO, WARD-4, PANCHKULA

ITA 635/CHANDI/2022[2017-18]Status: DisposedITAT Chandigarh11 Nov 2025AY 2017-18

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

SMT. SHANKRI DEVI,PANCHKULA vs. ACIT, PANCKULA CIRCLE, PANCHKULA

ITA 596/CHANDI/2022[2013-14]Status: DisposedITAT Chandigarh11 Nov 2025AY 2013-14

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Suraj Bhan Nain, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR

आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING

RAMSAMY PONGIANNA GOUNDER DESAMANI,PALLIPALAYAM vs. ITD, WARD 2, , TIRUCHENGODE

In the result, appeal filed by the assessee is allowed

ITA 2438/CHNY/2024[2011-12]Status: DisposedITAT Chennai16 Oct 2025AY 2011-12
Section 139Section 147Section 148Section 151Section 2(22)(e)Section 250

section 2(22). Further, the term substantial\ninterest is defined u/s.2(32) of the Act which reads as under : -\n"person who has a substantial interest in the company", in relation\nto a company, means a person who is the beneficial owner of\nshares, not being shares entitled

MAHENDRA PATEL BUILDERS PVT. LTD.,VADODARA vs. THE DY.CIT, CENTRAL CIRCLE-2, VADODARA

Appeal is allowed for statistical purposes

ITA 1217/AHD/2025[2020-21]Status: DisposedITAT Ahmedabad07 Aug 2025AY 2020-21
Section 132Section 139(1)Section 143(3)Section 153ASection 69A

said Circular also clarifies that the definition of a Keyman includes a director or any person who has a substantial interest in the company.\n7.5 In the present case, it is not disputed that the insured persons were active directors engaged in the core management and affairs of the assessee

SHARAD KUMAR,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, MEDIA CIRCLE

In the result, appeal filed by the assessee is allowed

ITA 1381/CHNY/2024[2010-2011]Status: DisposedITAT Chennai18 Sept 2024AY 2010-2011

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita No.1381/Chny/2024 िनधा"रण वष"/Assessment Year: 2010-11 V. Mr. Sharad Kumar, The Dcit, New No.6, Old No.7, Media Circle-1, Nawab Habibullah Avenue, Chennai. 3Rd Street, Chennai-6. [Pan: Aasps 2554 F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. D. Anand, AdvFor Respondent: Ms. T.M.Suganthamala
Section 2(24)(iv)

concessional rate to the employee by the assessee. If the loan granted to an employee being a director or a person who has a substantial interest in the company or a relative of a director without charging or interest or at a concessional rate of interest constituted any benefit ... benefit or perquisite, whether convertible into money or not, obtained from a company either by a director or by a person who has a substantial interest in the company, or by a relative of the director or such person, and any sum paid by any such company in respect

ASSISTANT COMMISSIONER OF INCOME TAX -1(2)(1)MUMBAI, MUMBAI vs. MADHUSUDHAN BABUBHAI KOCHA, MUMBAI

Appeal is dismissed in above terms

ITA 3516/MUM/2023[2013-14]Status: DisposedITAT Mumbai10 Jul 2024AY 2013-14

Bench: Shri Satbeer Singh Godara (Jm) & Shri Girish Agrawal (Am)

Section 143(3)Section 2(22)(e)Section 2(32)

company' and this section is reproduced below:- Section 2(32) of the Income Tax Act, 1961 states as under: "(32) person who has a substantial interest in the company", in relation to a company, means a person who is the beneficial owner of shares, not being shares entitled

APEEJAY SURRENDRE MANAGEMENT SERVICES PVT. LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA

In the result both the appeals of the assessee are allowed

ITA 988/KOL/2023[2014-15]Status: DisposedITAT Kolkata19 Feb 2024AY 2014-15

Bench: Shri Sanjay Garg & Shri Girish Agrawal

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Abhijit Kundu, CIT, DR
Section 143(3)Section 2(22)(e)

which is extracted below: Apeejay Surrendra Management Services P. Ltd. AYs 2013-14 & 2014-15 “2(32) “person who has a substantial interest in the company”, in relation to a company, means a person who is the beneficial owner of shares, not being shares entitled to a fixed rate

APEEJAY SURRENDRA MANAGEMENT SERVICES PVT. LTD,KOLKATA vs. DCIT,CIRCLE-8(1), KOLKATA

In the result both the appeals of the assessee are allowed

ITA 987/KOL/2023[2013-14]Status: DisposedITAT Kolkata19 Feb 2024AY 2013-14

Bench: Shri Sanjay Garg & Shri Girish Agrawal

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Abhijit Kundu, CIT, DR
Section 143(3)Section 2(22)(e)

which is extracted below: Apeejay Surrendra Management Services P. Ltd. AYs 2013-14 & 2014-15 “2(32) “person who has a substantial interest in the company”, in relation to a company, means a person who is the beneficial owner of shares, not being shares entitled to a fixed rate

GLOBAL BUSINESS CONEXXTIONS PVT.LTD.,MADHYA PRADESH vs. ACIT/DCIT-5(3), MUMBAI

ITA 720/MUM/2023[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14
For Appellant: Shri Jitendra SinghFor Respondent: Dr. Kishor Dhule
Section 143(3)Section 147Section 2(22)(e)

part of the assets of the company or otherwise) by way of advance or loan to a shareholder, being a person who has a substantial interest in the company or any payment by any such company on behalf or for the individual benefits, of any such shareholder, to the extent ... register of members of the Company with one additional feature, namely, that such shareholder should be a person who has a substantial interest in the Company. Admittedly, the aforesaid additional feature would make no difference to the position of law laid down in the aforesaid two decisions

ASSISTANT COMMISSIONER OF INCOME TAX, CENRTALCIRCLE-1, VISAKHAPATNAM vs. VIJAYNAGAR FOOD AND NUTRACEUTICALS PVT LTD, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

ITA 246/VIZ/2022[2018-19]Status: DisposedITAT Visakhapatnam29 Mar 2023AY 2018-19

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No. 246/Viz/2022 ("नधा"रण वष" / Assessment Year : 2018-19) Assistant Commissioner Of Vs. Vijaynagar Food & Income Tax, Nutraceuticals Pvt Ltd, Central Circle-1, Visakhapatnam. Visakhapatnam. Pan: Aadcv 9495 L (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

For Appellant: Sri GVN Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 127Section 132Section 142(1)Section 153ASection 2(22)(e)Section 2(32)

profits; Further we also extract the definition of “substantial interest” as per section 2 (32) of the Act below: 6 "person who has a substantial interest in the company", in relation to a company, means a person who is the beneficial owner of shares, not being shares entitled

THE DY. CIT 4(1), INDORE vs. M/S. RYDER TRANS INTERNATIONAL (P) LTD., INDORE

In the result appeal of the Revenue is partly allowed

ITA 720/IND/2019[2012-13]Status: DisposedITAT Indore30 Apr 2021AY 2012-13

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2012-13

Section 139(1)Section 147Section 148Section 2(22)Section 2(22)(e)

register of members of the Company with one additional feature, namely, that such shareholder should be a person who has a substantial interest in the Company. Admittedly, the aforesaid additional feature would make no difference to the position of law laid down in the aforesaid two decisions

SHIV KUMAR JATIA,NEW DELHI vs. ITO, WARD- 10(2), NEW DELHI

The appeals of the assessee are allowed

ITA 7256/DEL/2019[2011-12]Status: DisposedITAT Delhi26 Apr 2021AY 2011-12

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 7256/Del/2019 : Asstt. Year : 2011-12 Ita No. 241/Del/2019 : Asstt. Year : 2013-14 Sh. Shiv Kumar Jatia, Vs Income Tax Officer, B-50, Gulmohar Park, Ward-10(2), New Delhi-110049 New Delhi-110002 (Appellant) (Respondent) Pan No. Aabpj7582K Assessee By : Sh. C. S. Aggarwal, Sr. Adv. Revenue By : Sh. Prakash Dubey, Sr. Dr Date Of Hearing: 10.03.2021 Date Of Pronouncement: 26.04.2021

For Appellant: Sh. C. S. Aggarwal, Sr. AdvFor Respondent: Sh. Prakash Dubey, Sr. DR
Section 10Section 10(38)Section 2(24)Section 71Section 74

benefit or perquisite, whether convertible into money or not, obtained from a company either by a director or by a person who has a substantial interest in the company, or by a relative of the director or such person, and any sum paid by any such company in respect

SHIV KUMAR JATIA,NEW DELHI vs. ITO, WARD- 10(2), NEW DELHI

The appeals of the assessee are allowed

ITA 241/DEL/2019[2013-14]Status: DisposedITAT Delhi26 Apr 2021AY 2013-14

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 7256/Del/2019 : Asstt. Year : 2011-12 Ita No. 241/Del/2019 : Asstt. Year : 2013-14 Sh. Shiv Kumar Jatia, Vs Income Tax Officer, B-50, Gulmohar Park, Ward-10(2), New Delhi-110049 New Delhi-110002 (Appellant) (Respondent) Pan No. Aabpj7582K Assessee By : Sh. C. S. Aggarwal, Sr. Adv. Revenue By : Sh. Prakash Dubey, Sr. Dr Date Of Hearing: 10.03.2021 Date Of Pronouncement: 26.04.2021

For Appellant: Sh. C. S. Aggarwal, Sr. AdvFor Respondent: Sh. Prakash Dubey, Sr. DR
Section 10Section 10(38)Section 2(24)Section 71Section 74

benefit or perquisite, whether convertible into money or not, obtained from a company either by a director or by a person who has a substantial interest in the company, or by a relative of the director or such person, and any sum paid by any such company in respect