SHIV SHAKTI CONSTRUCTONS ,GAUTAM BUDH NAGAR vs. ACIT CENTAL CIRCLE-2, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

SHIV SHAKTI CONSTRUCTIONS,GAUTAM BUDH NAGAR vs. ACIT, CENTRAL CIRCLE-11, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

DCIT, CENTRAL CIRCLE-II, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

DCIT CENTRAL CIRCLE-2, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

SHIV SHAKTI CONSTRUCTION,GAUTAM BUDH NAGER vs. ACIT, CENTRAL CIRCLE-2 , NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

SHIV SHAKTI CONSTRUCTIONS ,GAUTAM BUDH NAGER vs. ACIT, CENTRAL CIRCLE-2, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

SHIV SHAKTI CONSTRUCTIONS,GAUTAM BUDH NAGAR vs. ACIT, CENTRAL CIRCLE-11, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

SHIV SHAKTI CONSTRUCTIONS,GAUTAM BUDH NAGAR vs. ACIT, CENTRAL CIRCLE-11, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

DCIT, CENTRAL CIRCLE-II, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

DCIT CENTRAL CIRCLE-2, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

131 of the Act and notices issued under Section 133(6) of the Act issued to some other parties, the Assessing Officer concluded that the corresponding purchases against such creditors are bogus and non genuine to the extent of Rs.8,11,39,611/- being increase in the creditors during the year. Consequently, the Assessing Officer embarked upon disallowance of such

RICHMOND EDUCATIONAL SOCIETY,NOIDA vs. DCIT/ACIT CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD

In the result, the appeal of the Assessee is allowed

131, it is stated as follows:\n\"When a charity has been founded and trusts have been declared the founder\nhas no power to revoke, vary or add to the trusts. This is so irrespective of\nwhether the trusts have been declared by an individual, or by a body of\nsubscribers, or by the trustees.\"\nWhen the founders

PR. COMMISSIONER OF INCOME TAX -7 vs. SUMITOMO CORPORATION INDIA (P) LTD.

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156 and notice issued under section 274 read with section 271(1)(c) of the Act for initiating penalty proceedings. provided to the Petitioner to file objections before the DRP, even though the Respondent was mandated

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MARUTI SUZUKI INDIA LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156 and notice issued under section 274 read with section 271(1)(c) of the Act for initiating penalty proceedings. provided to the Petitioner to file objections before the DRP, even though the Respondent was mandated

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MICROSOFT INDIA ( R & D) PVT. LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156 and notice issued under section 274 read with section 271(1)(c) of the Act for initiating penalty proceedings. provided to the Petitioner to file objections before the DRP, even though the Respondent was mandated

ACIT, MEERUT vs. M/S. SPACE AGE RESEARCH & TECHNOLOGY FOUNDATION CHARITABLE TRUST, MEERUT

In the result Ground No. 1 and 3 of the appeal of the revenue is allowed and ground No

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiacit, Space Age Research & Vs. Circle-2, Meerut Technology Foundation, Charitable Trust, Railway Road, Meerut Pan: Aabts7321M (Appellant) (Respondent)

disallow the interest on mere suspicion and surmises particularly when the Appellant Trust had duly proved the source of loans/deposits.. 10.2.6. In my considered opinion, there was absolutely no contravention of provisions of section 13(3) of the I.T. Act as alleged by the AO. Therefore, there was no justification to make disallowance/addition of Rs.20,50,491/- which

PRAYAG POLYTECH PVT. LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumarassessment Year: 2014-15

disallowance u/s. 68 actually comes to RS. 10,46,00,000/-. In appeal filed by the Assessee, Ld. CIT(A) deleted the addition of RS. 1,10,00,000/- in respect of I World Business Solutions 2 Pvt. Ltd. and Rs. 15,00,000/- in respect of KG Embroidery Mills Ltd. vide order dated 28.6.2017. Aggrieved with the aforesaid action

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. PRAYAG POLYTECH PVT. LTD., NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumarassessment Year: 2014-15

disallowance u/s. 68 actually comes to RS. 10,46,00,000/-. In appeal filed by the Assessee, Ld. CIT(A) deleted the addition of RS. 1,10,00,000/- in respect of I World Business Solutions 2 Pvt. Ltd. and Rs. 15,00,000/- in respect of KG Embroidery Mills Ltd. vide order dated 28.6.2017. Aggrieved with the aforesaid action

J.D. WINES,GURGAON vs. ADDL. CIT, GURGAON

In the result, the appeal of the assessee is partly allowed

disallowance could be made under section 40A(3) - Held, yes [ Para 23] [In favour of the assessee]" CIT vs Smt. Shelly Passi reported in (2013) 350 ITR 227 (P&H) In this case the court upheld the view of the tribunal in not applying section 40A( 3) of the Act to the cash payments when ultimately, such amounts were deposited