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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

ACIT, NEW DELHI vs. M/S. SUR BUILDCON PVT. LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

ITO, NEW DELHI vs. M/S ANGEL CEMENT PVT. LTD.,, GHAZIABAD

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi

Section 1. Cement Pvt 68: forward to prove identity, having adequate reserves Ltd. Share creditworthiness & to make investment. genuineness (ICG)of capital the  The -Revenue’s (SC) share transactions. assessee has  The summons addressed to Appeal premium discharged its burden cast – Rs. 66 contributors remained upon it to prove identity, crores uncompiled with. creditworthiness & Notice 133(6) returned back

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

section 68 is not apply to remittances made in India by non- resident is strengthened by the proviso to u/s.68 inserted w.e.f. asst. yr. 2013-14. According to the said proviso, if an assessee company, in which public are not substantially interested, receives money by way of share capital, then the source of funds of resident shareholder