MARUTI SUZUKI INDIA LTD,NEW DELHI vs. DCIT, CIRCLE-16(1), NEW DELHI

Bench: Shri G. S. Pannu, Shri N.V.Vasudevan & Shri Vikas Awasthyआअसुं.6997/म ुं/2019(धन.व. 2016-17) Deputy Commissioner Of Income Tax Circle 11(3)(1), Mumbai ...... अपीलाथी/Appellant बनाम Vs. Total Oil India Pvt. Ltd. 3Rd Floor, The Leela Galleria, Andheri ( East), Mumbai 400 059 ..... प्रधिवादी/Respondent Pan: Aaace-2175-M C.O. No.57/Mum/2019 Total Oil India Pvt. Ltd. Mumbai – 400 059 ...... Cross Objector बनाम Vs. Deputy Commissioner Of Income Tax ...... प्रधिवादी/Respondent Circle 11(3)(1), Mumbai.

Section 115-O introduced by the Finance Bill 1997. In terms of Rule 8(1) of the Rules income derived from the sale of tea grown by the assessee and 53 Special Bench - Total Oil India Pvt. Ltd. manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent

MARUTI SUZUKI INDIA LTD,NEW DELHI vs. DCIT, CIRCLE-16(1), NEW DELHI

Bench: Shri G. S. Pannu, Shri N.V.Vasudevan & Shri Vikas Awasthyआअसुं.6997/म ुं/2019(धन.व. 2016-17) Deputy Commissioner Of Income Tax Circle 11(3)(1), Mumbai ...... अपीलाथी/Appellant बनाम Vs. Total Oil India Pvt. Ltd. 3Rd Floor, The Leela Galleria, Andheri ( East), Mumbai 400 059 ..... प्रधिवादी/Respondent Pan: Aaace-2175-M C.O. No.57/Mum/2019 Total Oil India Pvt. Ltd. Mumbai – 400 059 ...... Cross Objector बनाम Vs. Deputy Commissioner Of Income Tax ...... प्रधिवादी/Respondent Circle 11(3)(1), Mumbai.

Section 115-O introduced by the Finance Bill 1997. In terms of Rule 8(1) of the Rules income derived from the sale of tea grown by the assessee and 53 Special Bench - Total Oil India Pvt. Ltd. manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, CIRCLE-16(1), NEW DELHI

Bench: Shri G. S. Pannu, Shri N.V.Vasudevan & Shri Vikas Awasthyआअसुं.6997/म ुं/2019(धन.व. 2016-17) Deputy Commissioner Of Income Tax Circle 11(3)(1), Mumbai ...... अपीलाथी/Appellant बनाम Vs. Total Oil India Pvt. Ltd. 3Rd Floor, The Leela Galleria, Andheri ( East), Mumbai 400 059 ..... प्रधिवादी/Respondent Pan: Aaace-2175-M C.O. No.57/Mum/2019 Total Oil India Pvt. Ltd. Mumbai – 400 059 ...... Cross Objector बनाम Vs. Deputy Commissioner Of Income Tax ...... प्रधिवादी/Respondent Circle 11(3)(1), Mumbai.

Section 115-O introduced by the Finance Bill 1997. In terms of Rule 8(1) of the Rules income derived from the sale of tea grown by the assessee and 53 Special Bench - Total Oil India Pvt. Ltd. manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent

SHAIKSHANIK KEISHANK SAMAJ,GHAZIABAD vs. ADDL. CIT, GHAZIABAD

In the result, all the appeal of the assessee is dismissed

115 BBC, which is operative from A.Y. 2007-08 onwards. As of now, the appellant cannot get away from purview of Section 68/69/69C. If borrowings/donations/investments are unproved, they may well be treated as Income unaccounted and brought to tax u/s 11(4) r.w. 68/69/69C. This can be looked even from another point of view. A trust/society cannot be held

GUPTA CITI SHELTERS LTD. vs. COMMISSIONER OF INCOME TAX NEW DELHI

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year, the same may be charged to income tax as the income of the assessee of that previous year if the explanation offered by the assessee about the nature and source thereof is, in the opinion of the Assessing

GUPTA CITI SHELTERS LTD. vs. COMMISSIONER OF INCOME TAX NEW DELHI

Appeals of the assessee are allowed

Section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year, the same may be charged to income tax as the income of the assessee of that previous year if the explanation offered by the assessee about the nature and source thereof is, in the opinion of the Assessing

INFOMEDIARY INDIA PVT LTD vs. COMMISSIONER OF INCOME TAX

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the Act' *tl1t" uny ,urn is found credited in the books of the assessee for any previous year/ the same may be charged to income tax as the income of the ars"sre6 of that previous year if the explanation offered by the assessee about the nature ano source thereof is, in the opinion

INFOMEDIARY INDIA PVT LTD vs. COMISSIONER OF INCOME TAX

Appeals of the assessee are allowed

Section 68 of the Act' *tl1t" uny ,urn is found credited in the books of the assessee for any previous year/ the same may be charged to income tax as the income of the ars"sre6 of that previous year if the explanation offered by the assessee about the nature ano source thereof is, in the opinion

COMMISSIONER OF INCOME TAX vs. VIJAY FOILS P.LTD.

Appeals of the assessee are allowed

Section 68 of the Act' *tl1t" uny ,urn is found credited in the books of the assessee for any previous year/ the same may be charged to income tax as the income of the ars"sre6 of that previous year if the explanation offered by the assessee about the nature ano source thereof is, in the opinion

CIT vs. JH FINVEST PVT LTD

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the Act' *tl1t" uny ,urn is found credited in the books of the assessee for any previous year/ the same may be charged to income tax as the income of the ars"sre6 of that previous year if the explanation offered by the assessee about the nature ano source thereof is, in the opinion

CIT vs. LAXMAN INDUSTRIAL RESOURCES LTD

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the Act' *tl1t" uny ,urn is found credited in the books of the assessee for any previous year/ the same may be charged to income tax as the income of the ars"sre6 of that previous year if the explanation offered by the assessee about the nature ano source thereof is, in the opinion

COMMISSIONER OF INCOME TAX-III vs. SHAM MOHAN PVT LTD

Appeals of the assessee are allowed

Section 68 of the Act' *tl1t" uny ,urn is found credited in the books of the assessee for any previous year/ the same may be charged to income tax as the income of the ars"sre6 of that previous year if the explanation offered by the assessee about the nature ano source thereof is, in the opinion

COMMISSIONER OF INCOME TAX vs. VIJAY FOILS P.LTD.

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the Act' *tl1t" uny ,urn is found credited in the books of the assessee for any previous year/ the same may be charged to income tax as the income of the ars"sre6 of that previous year if the explanation offered by the assessee about the nature ano source thereof is, in the opinion

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S. SHRISH ENTERPRISES PRIVATE LIMITED, DELHI

Bench: Ms. Madhumita Roy & Shri Naveen Chandradcit, Room No. 225E, Cr Vs. M/S Shrish Enterprise Building, 2Nd Floor, Private Limited, Hall No. Ip Estate, 3 & 4, M-27/2, Badli New Delhi - 110002 Industrial Estate, Badli, Delhi – 110042 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs0684N Appellant .. Respondent

115 to 120) 6. Purchase bills from M/s Indwell Pharma (Page no.121 to 128) Therefore, it is submitted, no doubt that in terms of aforesaid provisions of section 68

J. M. HOUSING LIMITED,DELHI vs. PR. CIT (CENTRAL) KNP MEERUT, UTTAR PRADESH

In the result, the appeal of the assessee is allowed

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2021-22] J.M. Housing Limited, Pr.Cit (Central) Kanpur, At Meerut, 312/3T/F5 Pratap Bhawan, Aayakar Bhawan, Bhainsali Ground, Bhahadur Shah Zafar Marg, Vs Meerut, Uttar Pradesh-25001 Central Delhi, Delhi-11002 Pan-Aaccj1692E Assessee Revenue

68 r.w.s. 115 BBE of the IT Act, 1961. Penalty u/s 271AAC is initiated separately…..” 4. Subsequently, the ld. PCIT noted that the impugned assessment order was erroneous and so far as prejudicial to the interest of the Revenue under section

ITO, NEW DELHI vs. M/S. BILLET PROCON PVT. LTD., DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Challa Nagendra Prasad\Nand\Nshri S Rifaur Rahman\N\Nita No. 1382/Del/2017\Nनिर्धारणवर्ष/Assessment Year: 2012-13\N\Nito,\Nward-5(1), Room No.379,\N3Rd Floor, C.R. Building, I.P. Estate,\Nnew Delhi.\Npan No.Aalfb8236G\Nअपीलार्थी Appellant\N\Nassessee By\Ndr. Kapil Goel, Adv.\N\Nrevenue By\Nshri Ajay Kumar Arora, Sr. Dr\N\Nसुनवाईकीतारीख / Date Of Hearing:\N27.05.2025\Nउद्घोषणाकीतारीख /Pronouncement On 25.06.2025\N\Nआदेश /Order\N\Nper C.N. Prasad, J.M.\N\Nthis Appeal Is Filed By The Revenue Against The Order Of The Ld. Cit(Appeals)-2, New Delhi Dated 30.11.2016 For The Ay 2012-13.\Nrevenue In Its Appeal Raised The Following Grounds: -\N\N1. “Whether On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Deleting The Addition Of Rs.3,52,00,000/- Made By Ao U/S 68 Of The I.T. Act On Account Of Unexplained Credits In The Form Of Share Capital/Share Premium During The Year.\N\N2. Whether On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Holding That The Assessee Has Discharged The Onus Of Proving The Identify & Creditworthiness Of The Share Subscribers & The Genuineness Of The Subscription.\"\N\N2. Ld. Counsel For The Assessee, At The Outset, Submitted That The Assessee Filed Petition Under Rule 27 Of Itat Rules As A Defense Plea To Support Ld. Cit(Appeals) Order On Legal & Jurisdictional Grounds Raised Before The Ld. Cit(Appeals) But Was Rejected Vide Para 3.

68 is rejected.\"\n\n7. The assessee filed petition under Rule 27 of ITAT Rules to support the Ld. CIT(Appeals) order on legal ground which was rejected by the Ld. CIT(Appeals) as stated above.\n\n8. We observed that whether the petition filed by the Assessee under Rule 27 of ITAT Rules supporting the order

GE TRANSPORTATION PARTS LLC vs. COMMISSIONER OFLNCOME TAX (INTERNATIONAL TAXATION), DELHI - I

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE ANUP JAIRAM BHAMBHANI

Section 115-QA of the Act in relation to the Assessee buying back 10 lakhs equity shares out of opening share capital of 25,68

DY. COMMISSIONER OF INCOME TAX, NOIDA vs. M/S RUDRA BUILDWELL HOMES PVT. LTD, DELHI

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2016-17 Vs. M/S. Rudra Buildwell Homes Dcit, Central Circle-I, Noida Pvt. Ltd., 53, Okhla Phase, Delhi Pan: Aafcr6959P (Appellant) (Respondent) With C.O. No.106/Del/2025 [Arising Out Of Ita No.602/Del/2025] Assessment Year: 2016-17 M/S. Rudra Buildwell Vs. Dcit, Central Circle-I, Homes Pvt. Ltd., Noida A-66, Sector-63, Noida Pan: Aafcr6959P (Appellant) (Respondent) Assessee By Sh. Rohit Kapoor, Adv. Sh. Veersen Agarwal, Itp Department By Sh. Rajesh Chandra, Cit(Dr) Date Of Hearing 12.08.2025 Date Of Pronouncement 29.08.2025 Order Per Satbeer Singh Godara, Jm This Revenue’S Appeal Ita No.602/Del/2025 & Assessee’S Cross Objection C.O. No. 106/Del/2025 For Assessment Year 2016-

Section 68 speaks of three criterias of the Identity, genuineness and creditworthiness of the lender for justifying the credit as acceptable. There are plethora of judgments which clarify the extent to which the assessee is supposed to justify the above three criterias. (On identity) The Hon'ble High Court of Mumbai in the case of Orient Trading Company