VODAFONE INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7(3), MUMBAI

In the result, the appeal of the assessee is allowed

section 68 of the Act merely on the basis that details regarding the source of source of funds of such rights shareholders has not been provided. Further, this action of the learned AO also undermines the order of learned TPO and learned DRP wherein the right issue made to such shareholders has been examined and verified with no adverse

RAHEJA LEGENCY TRUST,MUMBAI vs. ACIT, CIR-22(1), MUMBAI

In the result, the appeal of the assessee is partly allowed and appeal filed by the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

22,99,347/-which have been merely renewed during the year from the scope of addition to be made under section 68

ACIT CIRCLE-22(1), MUMBAI vs. RAHEJA LEGACY TRUST, MUMBAI

In the result, the appeal of the assessee is partly allowed and appeal filed by the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

22,99,347/-which have been merely renewed during the year from the scope of addition to be made under section 68

OBEROI FOUNDATION,MUMBAI vs. CIT (E), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleoberoi Foundation V. Cit (Exemptions) Commerz, 3Rd Floor 6Th Floor, Piramal Chambers International Business Park Lalbaug, Mumbai – 400 012 Oberoi Garden City, Off. W.E. Highway Goregaon (E), Mumbai - 400063 Pan: Aaato1684L (Appellant) (Respondent) Assessee Represented By : Shri Vijay Mehta Department Represented By : Shri K.C. Salvamani

68 to 69C would be applicable in addition to the computation of income under these sections. We, therefore, reject the argument of learned Departmental Representative that addition under section 69 for excess 15 Oberoi Foundation investment has to be independently carried out notwithstanding exemption of income under sections 11 to 13. 21. Now, we come

LUMINANT INVESTMENTS LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -40, MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2006-07 Luminant Investments Ltd., Dy. Cit Central Circle 40, (Formerly Known As Luminant Aayakar Bhavan, M.K. Road, Vs. Investment Pvt. Ltd.) Mumbai-400020. 121, Radha Bhuvan, 1St Floor, Nagindas Master Road, Fort, Mumbai-400023. Pan No. Aaacl 0834 A Appellant Respondent

68, in terms, are not applicable The appellants further, contend that on the facts and in the The appellants further, contend that on the facts and in the The appellants further, contend that on the facts and in the circumstances of the case and in law, the Assessing Officer erred in circumstances of the case and in law, the Assessing

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

In the result, the appeal by the assessee is partly allowed, while the\nappeal by the Revenue is dismissed

22,961 is bad in law and ought to be deleted.\n8. Addition under section 68 of Rs 48,16,43,092\n8.1

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

22,961 is bad in law and ought to be deleted.\n\n8. Addition under section 68 of Rs 48,16,43,092\n\n8.1

SHRI RENUKAMATA MULTI-STATE CO-OPERATIVE URBAN SOCIETY LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(4), MUMBAI

22,961 is bad in law and ought to be deleted.\n8. Addition under section 68 of Rs 48,16,43,092\n8.1

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

22,961 is bad in law and ought to be deleted.\n8. Addition under section 68 of Rs 48,16,43,092\n8.1

SYNTENSIA NETWORK SECURITY INDIA P.LTD,MUMBAI vs. ITO 11(2)(4), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm M/S. Syntensia Network Security Vs. Ito 11(2)(4) India Pvt. Ltd., Churchgate, 506, Laxmi Mall Laxmi Industrial Mumbai - 400020 Estate New Link Road, Andheri (W) Mumbai - 400053 Pan/Gir No.Aalcs1143G Appellant) Respondent) ..

Section 68 cannot be applied. 6. [2008) 21 SOT 22 (DELHIUURO) SURAJ BHAN BAJAJ vs. ITO Section 68

NAV CONSEC P.LTD,MUMBAI vs. ITO 9(2)(3), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri. Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.3258/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/S Nav Consec Pvt Ltd बिधम/ Income Tax Officer, Ward 9(2)(3) Mumbai. Vs. C/O Sanjay Shah, 108, 1St Floor Sujata Niketan, Rani Sati Marg Malad East, Mumbai-400097 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcn1435A (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Anil Surana, Ca (Written Submission) Assessee By: Dr Mahesh Akhade, Cit Dr

section 68 of the Act is concerned, the same cannot be invoked in this case, as evidence was led by the respondents-assessees before the Assessing Officer with regard to identity, capacity 22

IDHASOFT LTD.,MUMBAI vs. DCIT - 15(2)(1), MUMBAI

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2007-08 M/S Idhasoft Ltd. Dcit-15(2)(1), 3, Narayan Building, Room No.357, 3Rd Floor बनाम/ 23 L. N. Road, Dadar East, Aayakar Bhavan, Vs. Mumbai-400014 M. K. Road, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aabci6090G Assessment Year: 2007-08 Dcit-15(2)(1), M/S Idhasoft Ltd. Room No.357, 3Rd Floor 3, Narayan Building, बनाम/ Aayakar Bhavan, 23 L. N. Road, Dadar East, Vs. M. K. Road, Mumbai-400014 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aabci6090G

22,27,23,750 Total(A) 3.8. If the impact of above entries is analyzed in the light of section 68

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -5(2), MUMBAI, NARIMAN POINT, MUMBAI vs. AGV CONSULTANTS , BORIVALI (E), MUMBAI

In the result, all the appeals filed by the revenue stands dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Hon’Ble Shri Prabhash Shankar

Section 68 of the I.T. Act which assessee has failed to do so. Without fulfillment of the onus cast u/s. 68 of the I.T. Act, the CIT(A) has allowed relief to the assessee which is prejudicial to the interest of revenue. In view of the discussion in the pre paragraphs it is humbly requested that the order

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 5(2), MUMBAI, NARIMAN POINT, MUMBAI vs. AGV CONSULTANTS , BORIVALI (E), MUMBAI

In the result, all the appeals filed by the revenue stands dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Hon’Ble Shri Prabhash Shankar

Section 68 of the I.T. Act which assessee has failed to do so. Without fulfillment of the onus cast u/s. 68 of the I.T. Act, the CIT(A) has allowed relief to the assessee which is prejudicial to the interest of revenue. In view of the discussion in the pre paragraphs it is humbly requested that the order

DCIT CENTRAL CIRCLE-2(2), MUMBAI vs. M/S SUCHIR CHEMICALS PVT LTD, MUMBAI.

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit –Central Circle – 2(2) V. M/S. Suchir Chemicals Pvt. Ltd., Old Cgo Building (Amalgamated Company – Manan Pharma Pvt Ltd. W.E.F 01.04.2013) Room No. 806, 8Th Floor 2Nd Floor, Shiv Ashish M.K. Road, Mumbai - 400020 Andheri Prade, Mumbai - 400005 Pan: Aaccm7533K (Appellant) (Respondent) Assessee By : Ms. Pooja Rander & Shri Rushabh Mehta Department By : Shri Manoj Sinha

Section 68 of the Act." 12 M/s. Suchir Chemicals Pvt. Ltd., 15. It is also a settled proposition that assessee is not required to prove source of source. In fact, this position has been clarified by us in the recent decision in Gaurav Triyugi Singh v. ITO [IT Appeal No. 1750 of 2017, dated 22

FOREVER FLOURISHING FIN & INV. PVT LTD,MUMBAI vs. DCIT-CC-3(4), MUMBAI, MUMBAI

In the result, appeal for the assessment year 2012

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

22,36,875/- towards share premium totaling to towards share premium totaling to Rs.9,16,35,375/- was unexplained cash credit in terms of section as unexplained cash credit in terms of section as unexplained cash credit in terms of section 68

FOREVER FLOURISHING FIN. & INV. PVT. LTD. ,MUMBAI vs. DCIT (CC)-3(4), MUMBAI, MUMBAI

In the result, appeal for the assessment year 2012

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

22,36,875/- towards share premium totaling to towards share premium totaling to Rs.9,16,35,375/- was unexplained cash credit in terms of section as unexplained cash credit in terms of section as unexplained cash credit in terms of section 68

ACIT CIR-6(3)(2), MUMBAI vs. SHRI MOHIT DEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

22)(e) of the Act and, (c) addition of unsecured loans of Rs.22,58,21,128/- by way of unexplained cash credit u/s 68 of the Act. Aggrieved by the order of the AO, the assessee preferred an appeal before the Ld. CIT(A) who A.Ys. 2010-11 & 2012-13 Mohit Deepak Kamboj partly allowed the appeal. Being aggrieved