M/S. SHEELA FOADM (P) LTD.,,DELHI vs. DCIT, NEW DELHI

In the result, the appeal filed by the assessee is partly allowed

Bench: Sh. I.C. Sudhir & Sh. O.P. Kantassessment Year: 2004-05 M/S. Sheela Foam (P.) Ltd., C-55, Vs. Deputy Commissioner Of Income Preet Vihar, Vikas Marg, Delhi Tax, Circle-8(1), New Delhi Gir/Pan : Aaacs0189B (Appellant) (Respondent) Appellant By S/Sh. Ajay Vohra & Gaurav Jain, Advocates; Ms. Bhavita Kumar, Adv. Respondent By Smt. Anima Barnwal, Sr. Dr Date Of Hearing 13.04.2016 Date Of Pronouncement 02.06.2016 Order Per O.P. Kant, A.M.: This Appeal Of The Assessee Is Directed Against Order Dated 17/08/1012 Of The Learned Commissioner Of Income-Tax (Appeals)-Xi, New Delhi, For Assessment Year 2004-05 In Respect Of Penalty Levied Under Section 271(1)(C) Of The Income-Tax Act, 1961 (For Short “The Act”) By The Assessing Officer. The Grounds Of Appeal Raised By The Assessee Are As Under: 1. That The Commissioner Of Income Tax (Appeals) Erred On Facts & In Law In Not Holding That The Order Dated 27.03.2009 Passed By The Assessing Officer Levying Penalty Under Section 271(1 )(C) Of The Income-Tax Act, 1961 (“The Act”) Was Beyond Jurisdiction, Bad In Law & Void Ab Initio. 1.1 That The Commissioner Of Income Tax (Appeals) Erred On Facts & In Law In Not Holding That The Penalty Order Under Section 271(1 )(C) Was Beyond Jurisdiction, Bad In Law & Void Ab-Initio, In As Much As The Same Was Initiated On Issues For Which No Prima Facie Satisfaction, Qua Concealment/Furnishing Of Inaccurate Particulars Of Income, Was Discernible From The Assessment Order Passed Under Section 143(3) Of The Act. Without Prejudice 2. That The Commissioner Of Income Tax (Appeals) Erred On Facts & In Law

disallowance of interest of Rs. 19,200 paid in respect of loan taken from Mr. Ravi Kapoor, which was treated as unexplained cash credit

ITO, WARD- 27(4), NEW DLEHI vs. ZEXUS AIR SERVICES PVT. LTD., GURGAON

In the result, the appeal filed by the Revenue as well as the CO filed by the assessee are dismissed

Bench: Shri R.K. Panda & Ms. Suchitra Kambleassessment Year: 2014-15 Ito, Vs Zexus Air Services Pvt. Ltd., Ward-27(4), 148-149, Centrum Plaza, New Delhi. Sector-53, Dlf Phase-V, Gurgaon. Pan: Aaacz6541L Co No.121/Del/2018 (Ita No.2608/Del/2018) Assessment Year: 2014-15 Zexus Air Services Pvt. Ltd., Vs. Ito, 148-149, Centrum Plaza, Ward-27(4), Sector-53, Dlf Phase-V, New Delhi. Gurgaon. Pan: Aaacz6541L (Appellant) (Respondent) Assessee By : Shri Gaurav Bansal, Ca Revenue By : Smt. Sushma Singh, Cit-Dr Date Of Hearing : 31.03.2021 Date Of Pronouncement : 23.04.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 12Th January, 2018 Of The Cit(A)-9, New Delhi, Relating To Assessment Year 2014-15. Co No.121/Del/2018 The Assessee Has Filed The Co Against The Appeal Filed By The Revenue. For The Sake Of Convenience, These Were Heard Together & Are Being Disposed Of By This Common Order.

disallowing the same and treating as unexplained credits: i. The basis of goodwill was not provided by the assessee, merely stating that "Services rendered by Mr. Surinder Kumar Kaushik: As already mentioned Mr. Surinder Kumar Kaushik was a renowned advisor in aviation industry. He, was instrumental in obtaining the aviation license. The license in itself is an evidence

DCIT, CENTRAL CIRCLE-30, NEW DELHI vs. SHALIMAR CORP. LTD., MUMBAI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT CENTER CIRCLE-30, DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

SHALIMAR CORP LIMITED,DELHI vs. DCIT, CENTRAL CIRCLE-30, , NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

SHALIMAR CORP LTD,LUCKNOW vs. DCIT, CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT, CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

DCIT, CENTRAL CIRCLE-30, NEW DELHI vs. SHALIMAR CORP. LTD., MUMBAI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT, CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

DCIT, DELHI vs. SHALIMAR CORP. LIMITED, MUMBAI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

SHALIMAR CORP LTD.,LUCKNOW vs. DCIT,CENTRAL CIRCLE-30, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Dcit, M/S. Shalimar Corp Ltd., A 2/3, Safdarjung Enclave, Central Circle-30, New Delhi New Delhi Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2764 To 2768/Del/2022 Assessment Years: 2012-13 To 2016-17 Vs. Dcit, M/S. Shalimar Corp Ltd., 11Th Floor, Shalimar Titanium, Central Circle-30, Vibhuti Khand, Gomti Nagar, New Delhi Lucknow Pan: Aadcs9234L (Appellant) (Respondent) With Ita Nos.2502/Del/2023; 2853 & 2854/Del/2022 Assessment Years: 2011-12, 2013-14 & 2015-16 Vs. M/S. Shalimar Corp Ltd., Dcit, Central Circle-30, 308, Tulsiani Chamber, New Delhi Nariman Point, Mumbai Pan: Aadcs9234L (Appellant) (Respondent) Assessee By Sh. Subhash Agarwal, Adv. Department By Sh. Mahesh Kumar, Cit(Dr)

credits under section 68, unexplained receipts, non-deduction of TDS, cash payments disallowances; involving varying sums, respectively. The Assessing Officer

THAPAR HOMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 570, 571 & 41 /िद"ी/2017 (िन.व. 2006-07, 2007-08 & 2009-10)

unexplained cash credit u/s 68 of the I.T. Act, 1961. 3. On the facts & circumstances of the case the CIT(A) has erred in deleting the addition of Rs. 24,67,149/-made by AO on account of Foreign travel expenses disallowed

ACIT, NEW DELHI vs. M/S. THAPAR HOMES LTD., NEW DELHI

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 570, 571 & 41 /िद"ी/2017 (िन.व. 2006-07, 2007-08 & 2009-10)

unexplained cash credit u/s 68 of the I.T. Act, 1961. 3. On the facts & circumstances of the case the CIT(A) has erred in deleting the addition of Rs. 24,67,149/-made by AO on account of Foreign travel expenses disallowed

THAPAR HOMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 570, 571 & 41 /िद"ी/2017 (िन.व. 2006-07, 2007-08 & 2009-10)

unexplained cash credit u/s 68 of the I.T. Act, 1961. 3. On the facts & circumstances of the case the CIT(A) has erred in deleting the addition of Rs. 24,67,149/-made by AO on account of Foreign travel expenses disallowed

THAPAR HOMES LIMITED,NEW DELHI vs. ACIT, CENTRAL CIRCLE-15, NEW DELHI

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 570, 571 & 41 /िद"ी/2017 (िन.व. 2006-07, 2007-08 & 2009-10)

unexplained cash credit u/s 68 of the I.T. Act, 1961. 3. On the facts & circumstances of the case the CIT(A) has erred in deleting the addition of Rs. 24,67,149/-made by AO on account of Foreign travel expenses disallowed

ACIT, NEW DELHI vs. M/S. THAPAR HOMER LTD., NEW DELHI

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 570, 571 & 41 /िद"ी/2017 (िन.व. 2006-07, 2007-08 & 2009-10)

unexplained cash credit u/s 68 of the I.T. Act, 1961. 3. On the facts & circumstances of the case the CIT(A) has erred in deleting the addition of Rs. 24,67,149/-made by AO on account of Foreign travel expenses disallowed

SRI JAGDISH PRASAD SHARMA,NEW DELHI vs. ITO, GHAZIABAD

The appeal of the assessee is dismissed

Bench: Shri Prashant Maharishi & Shri K.N.Charysri Jagdish Prasad Sharma, Vs. Ito, C/O. Mr. Sandeep Bhatnagar, Ward-1(3), Flat No. 12, 2Nd Floor, Sheel Tara Ghaziabad House, 4866/24, Ansari Road, Darya Ganj, New Delhi Pan: Azpps2130R (Appellant) (Respondent)

unexplained cash credits of the assessee which were rightly disallowed and added to the income of the assessee under section

JMK JEWELS PRIVATE LIMITED,DELHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, DELHI

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2017-18 M/S. Jmk Jewels Pvt. Ltd., Vs. Acit, Shop No. 302, Building New Delhi No.2678/1, Diamond Mall, Main Gurudwara Road, Karol Bagh, New Delhi Pan: Aabch6018F (Appellant) (Respondent) With Assessment Year: 2017-18 Dcit, Vs. M/S. Jmk Jewels Pvt. Ltd., New Delhi Shop No. 302, Building No.2678/1, Diamond Mall, Main Gurudwara Road, Karol Bagh, New Delhi Pan: Aabch6018F (Appellant) (Respondent) Assessee By Sh. Pranshu Singhal, Ca Sh. Rahul Bhardwaj, Adv. Department By Sh. Mahesh Kumar, Cit(Dr), Sh. Rajesh Tiwari, Sr. Dr

disallowed the entire cash sales made from 01 .10.2016 to 0801 1.2016 of Rs. 850818031m and held it be unexplained cash credit