ASSIATANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE 3(4), HYDERABAD vs. ZAINAB INVESTMENTS PRIVATE LIMITED , HYDERABAD

In the result, appeals filed by the Revenue and the assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narsimha Charyआ.अपी.सं /Ita No.66/Hyd/2021 To 69/Hyd/2021 (निर्धारण वर्ा/A.Y: 2011-12, 2013-14, 2015-16 & 2016-17) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.70/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.111/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) M/S Zainab Investments Vs. Asst.Commissioner Of Income Tax Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 26/11/2024 घोर्णध की तधरीख/Date Of 20/02/2025 Pronouncement:

House International (P) Ltd. (supra). Further, the Hon'ble Supreme Court in the case of Commissioner of Income-Tax, Orissa vs Orissa Corporation (P) Ltd. (supra) has considered similar issue and held that once, genuineness and creditworthiness and identity of investors are established, no additions can be made as cash credit, on the ground that investor company and directors have