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5 results for “TDS”+ Section 68clear

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Key Topics

Addition to Income5Section 14A4Disallowance4Section 143(2)3Section 143(3)2Section 41(1)2Section 143(1)2Section 1442Section 682Deduction

SRITHIK ISPAT PRIVATE LIMITED,GOA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 2(1) PANAJI,GOA, PANAJI,GOA

The appeal is allowed for statistical purposes

ITA 48/PAN/2025[2016-17]Status: DisposedITAT Panaji31 Jul 2025AY 2016-17

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Year: 2016-17 Srithik Ispat Pvt. Ltd. Plot No. 3, Sanguem Industrial Estate, Sanguem, Goa-403704 Pan : Aaics1765P . . . . . . . Appellant V/S Asstt. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . Respondent Appearances Assessee By: Mrs Girija Agrawal [‘Ld. Ar’] Revenue By: Ms Rijjula Uniyal [‘Ld. Dr’] Date Of Conclusive Hearing: 30/07/2025 Date Of Pronouncement : 31/07/2025 Order Per G. D. Padmahshali; This Assessee’S Appeal Is Filed U/S 253(1) Of The Income-Tax Act, 1961 [‘The Act’] Challenges Din & Order No 1068425181(1) Dt. 06/09/2024 Passed By National Faceless Appeal Centre, Delhi [‘Ld. Cit(A)/Nfac’] U/S 250 Of The Act Which Originated From Order Of Assessment Passed U/S 144 Of The Act By Asstt. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa. [‘Ld. Ao’].

For Appellant: Mrs Girija Agrawal [‘Ld. AR’]For Respondent: Ms Rijjula Uniyal [‘Ld. DR’]
Section 143(2)Section 144Section 250Section 251Section 251(1)(a)
2
Capital Gains2
Short Term Capital Gains2
Section 253(1)
Section 40
Section 68

TDS (2) ₹42,41,967- addition u/s 68 as unexplained cash credit upon assessee’s failure to substantiate closing cash balance (3) further addition of ₹98,54,509/- towards advances remained unexplained u/s 68 of the Act. Aggrieved by aforestated assessment the assessee filed an appeal before Ld. NFAC on 17/01/2019 which was dismissed ex-parte for non-prosecution

SALGAOCAR MINING INDUSTRIES PRIVATE LIMITED.,PANAJI vs. THE JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE., MARGAO

In the result, the appeal filed by the Revenue in ITA

ITA 118/PAN/2016[2011-12]Status: DisposedITAT Panaji05 Oct 2023AY 2011-12

Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI PARTHA SARATHI CHAUDHURY (Judicial Member)

For Appellant: Shri Sukhsagar SyalFor Respondent: Shri Prabhakar Anand
Section 143(3)Section 14ASection 41(1)

section 41(1) of the Act. As regards, the provisions for expenses, considering the submissions of the assessee that the said provisions had not been relevant to the assessment year under consideration, the ld. CIT(A) held that there is no question of disallowance of such provision for the assessment year 2011-12 and directed the Assessing Officer to delete

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, MARGAO., MARGAO vs. M/S SALGAONCAR MINING INDUSTRIES PVT. LTD., PANAJI

In the result, the appeal filed by the Revenue in ITA

ITA 135/PAN/2016[2011-12]Status: DisposedITAT Panaji05 Oct 2023AY 2011-12

Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI PARTHA SARATHI CHAUDHURY (Judicial Member)

For Appellant: Shri Sukhsagar SyalFor Respondent: Shri Prabhakar Anand
Section 143(3)Section 14ASection 41(1)

section 41(1) of the Act. As regards, the provisions for expenses, considering the submissions of the assessee that the said provisions had not been relevant to the assessment year under consideration, the ld. CIT(A) held that there is no question of disallowance of such provision for the assessment year 2011-12 and directed the Assessing Officer to delete

SOCIEADADE DE FOMENTO INDL. PVT. LTD.,MARGAO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

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

ITA 105/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

68 ITR 585 c. Matheson Bosanquet Enterprises Ltd., Vs. DCIT (Mad) 316 ITR 375 V) Transaction in exchange traded derivatives - life of short duration and they do not yield any income like dividend - Income can be derived only on their purchases and sales and so they are held only as stock-in-trade - Hence the income from such transactions

ACIT, CENTRAL CIRCLE, PANAJI vs. M/S SOCIADADE DE FOMENTO INDUSTRIAL P. LTD, MARGAO

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

ITA 116/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

68 ITR 585 c. Matheson Bosanquet Enterprises Ltd., Vs. DCIT (Mad) 316 ITR 375 V) Transaction in exchange traded derivatives - life of short duration and they do not yield any income like dividend - Income can be derived only on their purchases and sales and so they are held only as stock-in-trade - Hence the income from such transactions