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8 results for “section 68”+ Section 35(1)(iv)clear

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Key Topics

Addition to Income8Section 92C6Section 143(3)5Section 684Section 1443Cash Deposit3Condonation of Delay3Disallowance3Section 143(1)2Section 143(2)

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

section 143(3) of the I.T. Act, 1961. Further, the investment made in shares of Sesa Goa Ltd., as is evident from the audited books of account is out of surplus money only and no borrowed funds were utilized. The assessee-company purchased 3,38,03,812 equity shares of M/s. Sesa

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

2
Section 14A2
Section 92A2

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

section 143(3) of the I.T. Act, 1961. Further, the investment made in shares of Sesa Goa Ltd., as is evident from the audited books of account is out of surplus money only and no borrowed funds were utilized. The assessee-company purchased 3,38,03,812 equity shares of M/s. Sesa

SHREE AMBEY FORGING PRIVAT LIMITED,PANAJI vs. ITO, WARD - (4), PANAJI

In the result, both appeals of the assessee are allowed

ITA 389/PAN/2017[2013-14]Status: DisposedITAT Panaji07 Oct 2021AY 2013-14
For Appellant: Shri Shrinivas Nayak, CAFor Respondent: Shri Sourabh Nayak, Sr. DR
Section 143(3)Section 92ASection 92C

68,545/- based on the order of the AO-TP u/s 92CA of the Income Tax Act'1961, in spite of the fact that the assesse or their AE has not taken any benefit or exemption / deduction under the Income Tax Act. The Id AO(TP) and Dispute Resolution Panel-2, Bangalore, 4) has willfully ignored that the assesee

SCORPIO IRON LTD,PANAJI vs. ITO, WARD - 1(4), PANAJI

In the result, both appeals of the assessee are allowed

ITA 388/PAN/2017[2013-14]Status: DisposedITAT Panaji07 Oct 2021AY 2013-14
For Appellant: Shri Shrinivas Nayak, CAFor Respondent: Shri Sourabh Nayak, Sr. DR
Section 143(3)Section 92ASection 92C

68,545/- based on the order of the AO-TP u/s 92CA of the Income Tax Act'1961, in spite of the fact that the assesse or their AE has not taken any benefit or exemption / deduction under the Income Tax Act. The Id AO(TP) and Dispute Resolution Panel-2, Bangalore, 4) has willfully ignored that the assesee

SURAJDATTA SAGUN MORAJKAR,NERUL vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PANAJI GOA, PANAJI

ITA 122/PAN/2024[2017-18]Status: DisposedITAT Panaji18 Jun 2025AY 2017-18

Bench: Hon’Ble Shri Pavankumar Gadale & Shri G. D. Padmahshaliita Nos. 122/Pan/2024 Assessment Year : 2017-18 Surajdatta Sagun Morajkar C/O. Sun Estate Developers, Next To Sal De Goa, Bhatti Waddo, Bardez, Goa-403114 Pan : Aempm7614J . . . . . . . Appellant

For Appellant: Mr Vinesh Pikale [‘Ld. AR’]For Respondent: Mr Deshmukh Prakash [‘Ld. DR’]
Section 143(3)Section 250Section 253(1)Section 32(1)Section 37(1)Section 41(1)Section 5ASection 68

section 5A of the Act was for the year under consideration engaged in the business of real estate development and construction in the name & style of ‘Sun Estate Developer’ and also a partner in M/s ‘SM Venture.’ The assessee filed his return of income on 30/03/2018 declaring total income at ₹4,47,72,090/- which was subjected to scrutiny

GOURISH GOPINATH DESAI,UTTAR KANNADA vs. ITO -2, KARWAR, KARWAR

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 285/PAN/2025[2014-15]Status: DisposedITAT Panaji27 Oct 2025AY 2014-15

Bench: Shri Pavan Kumar Gadalei T A. Nos. 284,285 & 286/Pan/2025 (A.Y.2014-15 ) Gourish Gopinath Desai, Vs Ito-Ward-2, Katgal Kumta, Aayakar Bhavan, . Uttar Kannada-581444, Karwar-581301, Karnataka. Karnataka. Pan No:Bfwpd9695E

Section 144Section 68

1) of the Act are issued to furnish the details and substantiate the cash deposits in the bank account, Since, no explanations/details were filed, the AO considering the information available on record has invoked the provisions of Sec. 144 of the Act and finally made an addition under section 68 of the Act(i)opening balance of Rs.10

GOURISH GOPINATH DESAI,UTTAR KANNADA vs. ITO -2, KARWAR, KARWAR

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 286/PAN/2025[2014-15]Status: DisposedITAT Panaji27 Oct 2025AY 2014-15

Bench: Shri Pavan Kumar Gadalei T A. Nos. 284,285 & 286/Pan/2025 (A.Y.2014-15 ) Gourish Gopinath Desai, Vs Ito-Ward-2, Katgal Kumta, Aayakar Bhavan, . Uttar Kannada-581444, Karwar-581301, Karnataka. Karnataka. Pan No:Bfwpd9695E

Section 144Section 68

1) of the Act are issued to furnish the details and substantiate the cash deposits in the bank account, Since, no explanations/details were filed, the AO considering the information available on record has invoked the provisions of Sec. 144 of the Act and finally made an addition under section 68 of the Act(i)opening balance of Rs.10

GOURISH GOPINATH DESAI ,KARWAR vs. ITO -2, KARWAR , UTTARA KANNADA DISTRICT

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 284/PAN/2025[2014-15]Status: DisposedITAT Panaji27 Oct 2025AY 2014-15

Bench: Shri Pavan Kumar Gadalei T A. Nos. 284,285 & 286/Pan/2025 (A.Y.2014-15 ) Gourish Gopinath Desai, Vs Ito-Ward-2, Katgal Kumta, Aayakar Bhavan, . Uttar Kannada-581444, Karwar-581301, Karnataka. Karnataka. Pan No:Bfwpd9695E

Section 144Section 68

1) of the Act are issued to furnish the details and substantiate the cash deposits in the bank account, Since, no explanations/details were filed, the AO considering the information available on record has invoked the provisions of Sec. 144 of the Act and finally made an addition under section 68 of the Act(i)opening balance of Rs.10