S C JHONSON PRODUCTS PVT LTD,GURGAON vs. ACIT CIRCLE-22(2), NEW DELHI

In the result, appeal of the assessee is allowed

bogus entities-Tribunal\nallowed assessee's appeal on merits- Assessee's cross appeal was on correctness\nof reopening of assessment- Tribunal upheld, assessee's cross objections and dismissed Revenue's appeal holding that there was no\nproper application of mind by concerned sanctioning authority u/s\nSection 151 as a pre-condition for issuing notice u/s 147/148-Held,\nSection 151 stipulates that

NALWA STEEL POWER LIMITED,NEW DELHI vs. ACIT, CIRCLE- 17(2), NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

purchase of power provided by these companies are similar to the functional profile of the appellant. by selecting certain companies towards sale of power through (v) exchange as comparable without appreciating that the average of power sale price has nothing to do with the present facts and circumstances because those companies have their own way of carrying the business activities

M/S WEL INTERTRADE PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri N.K. Billaiya & Shri Amit Shukla

bogus or otherwise, as such, no part of the expenditure incurred and debited in the profit and loss Account could have been held disallowable on the ground that the same is disproportionate to the income. 2.8 The learned CIT(A) ought to have held that the assessee carried on the business of running business centre when it had been deriving

VARDHMAN INFRAFAB PVT. LTD.,NEW DELHI vs. WARD-26(1), NEW DELHI

In the result, ground No. 7 and 8 of assessee are allowed

Bench: Shri C.M. Gargvardhman Infrafab Pvt. Ltd, Vs. Ito, K43, Green Pak (Man), Delhi Ward-26(1), New Delhi (Appellant) (Respondent) Pan: Aaccv5663K Assessee By : Shri Priyansh Jain, Ca Revenue By: Shri Om Parkash, Sr. Dr Date Of Hearing 06/04/2023 Date Of Pronouncement 30/06/2023

244A of Income Tax Act, 1961 and initiating penalty proceedings against the assessee.” 4. The ld counsel submitted that the AO at page No. 2 noted that the assessee have made sales to two entities namely M/s. Riddhi Siddhi Clothing Co. Pvt. Ltd and M/s. Star Delta Traders Pvt. Ltd amounting to Vardhman Infrafab

D S DOORS (INDIA) LTD.,FARIDABAD vs. ITO, WARD- 1(2), FARIDABAD

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

Bench: Shri Bhavnesh Saini & Shri O.P. Kantassessment Year: 2014-15 M/S. D S Doors (India) Vs. Income Tax Officer, Ltd. Ward-1(2), Faridabad C/O- Saubhagya Agarwal, K- 185/14, Surya Plaza, 1St Floor, New Friends Colony, New Delhi Pan :Aaacd5805B (Appellant) (Respondent) Appellant By Shri Saubhagya Agarwal & Ms. Naincy Jain, Advocates Respondent By Shaveta Nakra Dutta, Sr.Dr

section 142(1) of the Act raising queries on the assessee. The replies filed by the assessee were considered by the Assessing Officer. In nutshell, the submission of the assessee was that the agriculture operations were carried out by the cultivators and expenses were also incurred by them and the assessee sold its share of produces and resultant receipt

DCIT, NEW DELHI vs. M/S SAM PORTFOLIO PVT. LTD., NEW DELHI

In the result, Appeal of the Revenue in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.I.T.A. No. 6219/Del/2015 (A.Y 2009-10)

section 274 are hereby initiated separately. 7. After discussion total income of the company is computed as under:- 1 Income as per return : Rs.4.485/- Add: (i) Claim of loss : Rs.1,01.33.791/ disallowed as discussed above (ii) Unexplained bank : Rs.9,86,97,514/- deposits as discussed above Total TOTAL Rs.10,88,35,790/ 28 ITAs. 6219 & 6220/Del/2015

DCIT, NEW DELHI vs. M/S SAM PORTFOLIO PVT. LTD., NEW DELHI

In the result, Appeal of the Revenue in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.I.T.A. No. 6219/Del/2015 (A.Y 2009-10)

section 274 are hereby initiated separately. 7. After discussion total income of the company is computed as under:- 1 Income as per return : Rs.4.485/- Add: (i) Claim of loss : Rs.1,01.33.791/ disallowed as discussed above (ii) Unexplained bank : Rs.9,86,97,514/- deposits as discussed above Total TOTAL Rs.10,88,35,790/ 28 ITAs. 6219 & 6220/Del/2015