ACIT, NEW DELHI vs. M/S. SUPERSTAR AGENCY PVT. LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ACIT, NEW DELHI vs. M/S. STAR LIGHT CONSUMER ELECTRONICS PVT. LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, NEW DELHI vs. M/S. SUKHNA REAL ESTATE PVT. LTD., GHAZIABAD

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, NEW DELHI vs. M/S. SUKHNA STEEL PVT. LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

M/S GLOBUS REAL INFRA PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, WARD-7(1), NEW DELHI vs. DELIGHT RESORTS P.LTD, NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, NEW DELHI vs. M/S STYLISH CONSTRUCTION PVT. LTD.,, NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, WARD-7(1), NEW DELHI vs. DELIGHT RESORTS P.LTD, GHAZIABAD

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, NEW DELHI vs. M/S. SUNLIGHT TOUR AND TRAVELS PVT. LTD., SAHIBABAD

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, NEW DELHI vs. M/S. SINTEX CONSUMERS ELECTRONICS PVT. LTD., DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO, NEW DELHI vs. M/S. SUPREME PLACEMENT SERVICES PVT. LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

JINGLE BELLS ALUMINIUM,NEW DELHI vs. ITO WARD - 13(3), NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

LANDSKY REAL ESTATES P.LTD,NEW DELHI vs. ITO, WARD-15(1), NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

KASPER INFORMATION TECHNOLOGY PVT. LTD.,NEW DELHI vs. ITO WARD-14(2), NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO WARD - 14(2), NEW DELHI vs. KASPER INFORMATION TECHNOLOGY PVT LTD, NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

ITO WARD - 13(3), NEW DELHI vs. JINGLE BELLS ALUMINIUM PVT. LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

KASPER INFORMATION TECHNOLOGY P.LTD,NEW DELHI vs. ITO, WARD-14(2), NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 68  w.e.f. 01.04.2013 cannot be Amt received through held, or interpreted, to be private placement – retrospective in nature contributors personally  Assessee cannot be known to assessee – must fastened with the liability be aware of whereabouts - u/s 68 unless a causal corporate veil needs to be connection between the lifted – assessee converted cash deposit in the bank its unaccounted

M/S UNITECH LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, assessee’s appeals is allowed and revenue’s appeal is dismissed

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2009-10 M/S. Unitech Ltd., Vs. Additional Cit, 6-Community Centre, Range-18, Saket, New Delhi-1100 17 New Delhi. (Pan: Aaacu1482H) (Appellant) (Respondent) Assessment Year: 2009-10 Additional Cit, Vs. M/S. Unitech Ltd., Range-18, 6-Community Centre, New Delhi. Saket, New Delhi (Pan: Aaacu1482H) (Appellant) (Respondent) Assessee By: S/Shri Salil Aggarwal, Adv., Gautam And, Ca & Shjalesh Gupta, Ca Department By: S/Shri Dilip Shivpuri & Ruchir Bhatia, Government Standing Counsels Date Of Hearing : 12 .01.2016 Date Of Pronouncement: 08 :04.2016 Order Per I.C. Sudhir:These Cross Appeals Preferred By Assessee & Revenue Are Directed Against The Order Of Learned Cit(A)-Xxi, New Delhi Dated 16.8.2013 & Relate To Assessment Year 2009-10. 2. The Appellant-Assessee Is A Public Limited Company Engaged In The Business Of Construction & Development Of Real Estate Projects. For The Assessment Year Under Consideration, It Filed A Return Declaring An Income Of Rs. 922,30,17,671/- On 29.9.2009, Which Came To Be Assessed At An Income Of Rs. 3361,18,87,560/- In An Order Dated 1.8.2012 Under Section 143(3) Of The Act. On Appeal, Learned Cit(A) Granted Part Relief To The Appellant & Hence The Appeals Before Us.

142(2A) of the Act were not satisfied in the instant case and, the directions for issue of special audit were with a mere motive to extend the period of limitation, therefore reference was without jurisdiction and order of assessment so made in pursuance thereto was barred by limitation. 1.2 That the learned Commissioner of Income Tax (Appeals) ought