w w w . L a w y e r S e r v i c e s . i n



The ACIT, Central Circle-26, New Delhi v/s M/s. S.P. Singla Construction P. Ltd., New Delhi


Company & Directors' Information:- L & W CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201KA2006PTC039095

Company & Directors' Information:- N H CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2006PTC144604

Company & Directors' Information:- C S CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45201DL2005PTC140236

Company & Directors' Information:- S D CONSTRUCTION PVT LTD [Active] CIN = U45209WB1993PTC058947

Company & Directors' Information:- M K R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2003PTC121828

Company & Directors' Information:- R K CONSTRUCTION PVT LTD [Strike Off] CIN = U00500BR1984PTC001953

Company & Directors' Information:- T D CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U70101AS2002PTC006719

Company & Directors' Information:- M I A CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45204DL2013PTC248344

Company & Directors' Information:- H N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200JH2007PTC012923

Company & Directors' Information:- L V CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45201UP1998PTC023382

Company & Directors' Information:- A G L CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400WB2008PTC126885

Company & Directors' Information:- C. K. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U00501BR1990PTC003909

Company & Directors' Information:- CONSTRUCTION INDIA PVT LTD [Active] CIN = U45201GJ1979PTC003375

Company & Directors' Information:- H R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201UP2002PTC026867

Company & Directors' Information:- M B N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70101AS2004PTC007322

Company & Directors' Information:- V K B S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1989PTC035435

Company & Directors' Information:- N J CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70102WB2012PTC186978

Company & Directors' Information:- C S R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060034

Company & Directors' Information:- T M G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203UP2000PTC025597

Company & Directors' Information:- C D S CONSTRUCTION CO PVT LTD [Active] CIN = U45200MH1982PTC026703

Company & Directors' Information:- P J CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201AS2000PTC006365

Company & Directors' Information:- A R C CONSTRUCTION PVT LTD [Active] CIN = U45202MH1996PTC096950

Company & Directors' Information:- E SP PRIVATE LIMITED [Strike Off] CIN = U72200TN1999PTC042806

Company & Directors' Information:- N B S A M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2005PTC143267

Company & Directors' Information:- J M D CONSTRUCTION PVT LTD [Strike Off] CIN = U70101WB1993PTC057456

Company & Directors' Information:- S R K CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45200BR1998PTC008483

Company & Directors' Information:- V & C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1992PTC049012

Company & Directors' Information:- S B CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203OR1994PTC003672

Company & Directors' Information:- O A CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45203AR2005PTC007930

Company & Directors' Information:- J C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203AS1999PTC005975

Company & Directors' Information:- N A CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH2009PTC192764

Company & Directors' Information:- N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2006PTC146888

Company & Directors' Information:- V. K. CONSTRUCTION COMPANY PVT. LTD. [Active] CIN = U45102WB1991PTC050570

Company & Directors' Information:- M M CONSTRUCTION PVT LTD [Strike Off] CIN = U45200GJ1995PTC027508

Company & Directors' Information:- P. L. G. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2007PTC171110

Company & Directors' Information:- L AND C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201KA2001PTC028456

Company & Directors' Information:- C R CONSTRUCTION PVT LTD [Active] CIN = U45209WB1960PTC024811

Company & Directors' Information:- J S CONSTRUCTION PVT LTD [Active] CIN = U45201OR1981PTC000921

Company & Directors' Information:- S H A CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202DL1996PTC076831

Company & Directors' Information:- S N S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45204HR2009PTC039160

Company & Directors' Information:- A V M CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202GJ2007PTC050521

Company & Directors' Information:- M P J CONSTRUCTION (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45400HR2011PTC044433

Company & Directors' Information:- A H CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201TN1990PTC019675

Company & Directors' Information:- NEW INDIA CONSTRUCTION COMPANY LTD [Active] CIN = U45101DL1981PLC011472

Company & Directors' Information:- A R S S V CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45202UR2020PTC011198

Company & Directors' Information:- A D CONSTRUCTION CO PRIVATE LIMITED [Strike Off] CIN = U45201UP1984PTC006464

Company & Directors' Information:- G V G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70102TN2009PTC072766

Company & Directors' Information:- D G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70102JH2012PTC000717

Company & Directors' Information:- N. B. Y. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201HR2019PTC079172

Company & Directors' Information:- J B F CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45200JK2008PTC002952

Company & Directors' Information:- K R P CONSTRUCTION PVT LTD [Active] CIN = U45200MH1989PTC053580

Company & Directors' Information:- R S M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2005PTC142245

Company & Directors' Information:- R & S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201BR2012PTC018727

Company & Directors' Information:- B M S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70101WB2006PTC110196

Company & Directors' Information:- E H CONSTRUCTION CO PVT LTD [Active] CIN = U45209WB1984PTC037174

Company & Directors' Information:- N AND K CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45500CT2020PTC010948

Company & Directors' Information:- A C K CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203PN2002PTC017065

Company & Directors' Information:- D. M. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U74140WB2000PTC091230

Company & Directors' Information:- B M CONSTRUCTION CO PVT LTD [Strike Off] CIN = U70101WB1987PTC043414

Company & Directors' Information:- S K L CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201OR2012PTC016144

Company & Directors' Information:- P D CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201MH2007PTC171650

Company & Directors' Information:- A M CONSTRUCTION P LTD. [Active] CIN = U99999WB1990PTC050255

Company & Directors' Information:- P B S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201WB2004PTC099367

Company & Directors' Information:- J B M CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45209WB2008PTC124938

Company & Directors' Information:- S. Z. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74999WB2011PTC163934

Company & Directors' Information:- P K S CONSTRUCTION CO PRIVATE LIMITED [Active] CIN = U45200HP2004PTC027694

Company & Directors' Information:- H D G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1988PTC032183

Company & Directors' Information:- S R B CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2004PTC130817

Company & Directors' Information:- N T C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201KL2001PTC014853

Company & Directors' Information:- S. P. CONSTRUCTION INDIA PRIVATE LIMITED [Active] CIN = U70100WB2019PTC233077

Company & Directors' Information:- S A M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200HR2020PTC088988

Company & Directors' Information:- C S CONSTRUCTION INDIA PRIVATE LIMITED [Active] CIN = U45200MH2020PTC346811

Company & Directors' Information:- G B CONSTRUCTION COMPANY PVT LTD [Strike Off] CIN = U74210PB1995PTC016038

Company & Directors' Information:- A K CONSTRUCTION CO PVT LTD [Active] CIN = U45400WB1983PTC035682

Company & Directors' Information:- D. D. A. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201JH2008PTC013043

Company & Directors' Information:- K. G. G. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400MN2010PTC008256

Company & Directors' Information:- G N B B CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70101AS2004PTC007418

Company & Directors' Information:- H. N. D. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200JH2011PTC015162

Company & Directors' Information:- M E CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45200DL2007PTC171643

Company & Directors' Information:- C S COMPANY CONSTRUCTION LIMITED [Active] CIN = U45201KL1997PLC011174

Company & Directors' Information:- L K I CONSTRUCTION PVT LTD [Active] CIN = U70101WB1993PTC058304

Company & Directors' Information:- S K CONSTRUCTION PVT LTD [Active] CIN = U45201WB1994PTC065714

Company & Directors' Information:- D T M CONSTRUCTION PVT LTD [Active] CIN = U45201WB1978PTC031730

Company & Directors' Information:- D L CONSTRUCTION PVT LTD [Strike Off] CIN = U45400WB1982PTC035570

Company & Directors' Information:- S V G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1994PTC055629

Company & Directors' Information:- M N P CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH1980PTC022351

Company & Directors' Information:- A H A CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400UP2010PTC040773

Company & Directors' Information:- S T S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U60109WB1996PTC081825

Company & Directors' Information:- J J CONSTRUCTION PVT. LTD [Strike Off] CIN = U45200WB1989PTC046714

Company & Directors' Information:- D P CONSTRUCTION PVT LTD [Strike Off] CIN = U70101WB1987PTC042320

Company & Directors' Information:- B B G CONSTRUCTION PVT LTD [Strike Off] CIN = U45201WB1993PTC059618

Company & Directors' Information:- G S CONSTRUCTION PVT LTD [Strike Off] CIN = U45201WB1994PTC063238

Company & Directors' Information:- P S S S K CONSTRUCTION CO PVT LTD [Strike Off] CIN = U45201WB2006PTC107993

Company & Directors' Information:- S E CONSTRUCTION PVT LTD [Strike Off] CIN = U45202WB1988PTC044630

Company & Directors' Information:- H K CONSTRUCTION PVT LTD [Active] CIN = U45201GJ1981PTC004160

Company & Directors' Information:- A V CONSTRUCTION CO PVT LTD [Active] CIN = U45202PB1982PTC004971

Company & Directors' Information:- G N CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202OR2000PTC006244

Company & Directors' Information:- D P T CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45202MH2001PTC131559

Company & Directors' Information:- J CONSTRUCTION INDIA PRIVATE LIMITED [Active] CIN = U45200TZ2012PTC018250

Company & Directors' Information:- N B S D CONSTRUCTION PVT. LTD. [Strike Off] CIN = U45201WB1993PTC058364

Company & Directors' Information:- S K E CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202JH2012PTC000666

Company & Directors' Information:- NEW DELHI CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45201DL2000PTC105137

Company & Directors' Information:- A K G CONSTRUCTION PRIVATE LIMITED [Converted to LLP and Dissolved] CIN = U45201DL2005PTC134347

Company & Directors' Information:- L J CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL2005PTC142321

Company & Directors' Information:- R H P CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45203MP2001PTC014739

Company & Directors' Information:- R AND M CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45202UP1994PTC017286

Company & Directors' Information:- B AND R CONSTRUCTION PVT LTD [Strike Off] CIN = U45201AS1990PTC003431

Company & Directors' Information:- J K CONSTRUCTION PVT LTD [Strike Off] CIN = U74210OR1987PTC001858

Company & Directors' Information:- B T CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U70101WB1997PTC085448

Company & Directors' Information:- P V CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U70100DL1998PTC097116

Company & Directors' Information:- M T CONSTRUCTION PVT LTD [Strike Off] CIN = U26933OR1985PTC001496

Company & Directors' Information:- A K CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U29248UR1982PTC005795

Company & Directors' Information:- P B CONSTRUCTION (INDIA) LIMITED [Strike Off] CIN = U01131TN1995PLC032650

Company & Directors' Information:- S K P CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201CT2008PTC020585

Company & Directors' Information:- A P G CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45400DL2007PTC168160

Company & Directors' Information:- B. CONSTRUCTION PVT. LTD. [Strike Off] CIN = U00894BR1989PTC003616

Company & Directors' Information:- Y S K CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2005PTC134417

Company & Directors' Information:- P K A S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U74899DL2005PTC138117

Company & Directors' Information:- R G M CONSTRUCTION PRIVATE LIMITED [Under Process of Striking Off] CIN = U45200BR1992PTC004863

Company & Directors' Information:- A TO Z CONSTRUCTION CO PRIVATE LTD [Strike Off] CIN = U70101DL1987PTC029674

Company & Directors' Information:- O S CONSTRUCTION PVT LTD [Strike Off] CIN = U00351JH1990PTC003764

Company & Directors' Information:- D I CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1994PTC061454

Company & Directors' Information:- P N CONSTRUCTION PRIVATE LIMITED [Converted to LLP] CIN = U45201DL2003PTC122894

Company & Directors' Information:- A + E CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1990PTC042290

Company & Directors' Information:- S N CONSTRUCTION PVT LTD [Strike Off] CIN = U45203OR1983PTC001211

Company & Directors' Information:- P N R CONSTRUCTION PVT LTD [Strike Off] CIN = U99999MH2006PTC158802

Company & Directors' Information:- J. K. D. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45209PB2009PTC033102

Company & Directors' Information:- B H CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH2009PTC193976

Company & Directors' Information:- K L G CONSTRUCTION INDIA PRIVATE LIMITED [Strike Off] CIN = U45201MH2015PTC264933

Company & Directors' Information:- J W CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400MH2010PTC198916

Company & Directors' Information:- U N CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400PN2014PTC150730

Company & Directors' Information:- G T K CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH1996PTC096261

Company & Directors' Information:- J B CONSTRUCTION PVT LTD [Strike Off] CIN = U45200MH2004PTC025668

Company & Directors' Information:- U S CONSTRUCTION AND COMPANY PRIVATE LIMITED [Strike Off] CIN = U45200MH2004PTC149583

Company & Directors' Information:- R M J CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U70102UP2010PTC040949

Company & Directors' Information:- M V CONSTRUCTION COMPANY PVT LTD [Strike Off] CIN = U45400WB1967PTC011413

Company & Directors' Information:- A P L CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45209HP2010PTC031395

Company & Directors' Information:- H AND K CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U70200HP2014PTC000633

Company & Directors' Information:- I. A. A. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45204DL2011PTC220447

Company & Directors' Information:- R M D CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2008PTC185164

Company & Directors' Information:- A R M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2008PTC185770

Company & Directors' Information:- G-5 CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2014PTC265907

Company & Directors' Information:- U P CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2014PTC271791

Company & Directors' Information:- V 2 S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2014PTC273750

Company & Directors' Information:- A T N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2015PTC288656

Company & Directors' Information:- I G CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45201DL1996PTC077365

Company & Directors' Information:- P P S CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45201DL2005PTC138608

Company & Directors' Information:- S S N V CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2005PTC142918

Company & Directors' Information:- K. C. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2012PTC231726

Company & Directors' Information:- N R D CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2012PTC244905

Company & Directors' Information:- S A Z CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U70102DL2014PTC267130

Company & Directors' Information:- A & Z CONSTRUCTION CO. PRIVATE LIMITED [Strike Off] CIN = U70101DL2012PTC231712

Company & Directors' Information:- J M M CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45200BR2014PTC021845

Company & Directors' Information:- B & U CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45203GJ2013PTC075424

Company & Directors' Information:- U. A. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201HR2020PTC086153

Company & Directors' Information:- C P CONSTRUCTION PVT LTD [Strike Off] CIN = U70101WB1988PTC043759

Company & Directors' Information:- K P CONSTRUCTION (INDIA) PVT LTD [Strike Off] CIN = U74210WB1985PTC039394

Company & Directors' Information:- T K CONSTRUCTION PVT LTD [Strike Off] CIN = U74210WB1985PTC039731

Company & Directors' Information:- A P S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201BR1986PTC002374

Company & Directors' Information:- A B G S CONSTRUCTION PVT LTD [Strike Off] CIN = U45201WB1986PTC040667

Company & Directors' Information:- G B S S CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45201PN2000PTC015546

Company & Directors' Information:- B P CONSTRUCTION CO PVT LTD [Strike Off] CIN = U95201WB1955PTC022488

Company & Directors' Information:- A R CONSTRUCTION PVT LTD [Strike Off] CIN = U45201CH1988PTC008459

Company & Directors' Information:- A S G CONSTRUCTION CO. PRIVATE LIMITED [Strike Off] CIN = U70200DL1996PTC075278

Company & Directors' Information:- W & C CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45209PN2006PTC129169

Company & Directors' Information:- T & A CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2007PTC164939

Company & Directors' Information:- S R S S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2008PTC176504

Company & Directors' Information:- B C R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U99999MH1979PTC021005

Company & Directors' Information:- NEW INDIA CONSTRUCTION COMPANY LIMITED [Dissolved] CIN = U99999MH1934PTC002197

Company & Directors' Information:- THE CENTRAL CONSTRUCTION LIMITED [Strike Off] CIN = U99999MH1942PTC003539

Company & Directors' Information:- THE CONSTRUCTION CO OF INDIA LTD. [Dissolved] CIN = U99999MH1943PLC007425

Company & Directors' Information:- NEW INDIA CONSTRUCTION COMPANY LIMITED [Dissolved] CIN = U99999MH1947PLC005788

Company & Directors' Information:- NEW INDIA CONSTRUCTION COMPANY LTD. [Dissolved] CIN = U99999MH1949PLC007127

Company & Directors' Information:- S B CONSTRUCTION CO LTD [Strike Off] CIN = U45208WB1947PLC014904

    ITA. No. 5163 of 2016

    Decided On, 17 February 2021

    At, Income Tax Appellate Tribunal Delhi

    By, THE HONOURABLE MR. BHAVNESH SAINI
    By, JUDICIAL MEMBER & THE HONOURABLE MR. B.R.R. KUMAR
    By, ACCOUNTANT MEMBER

    For the Revenue: H.K. Chaudhary, CIT-DR. For the Assessee: Ashwani Kumar, C.A.



Judgment Text

Bhavnesh Saini, J.M.1. This appeal by Revenue has been directed against the Order of the Ld. CIT(A)-29, New Delhi, Dated 30.06.2016, for the A.Y. 2010-2011, challenging the Order of the Ld. CIT(A) in deleting the addition of Rs.11,30,50,000/- out of total addition of Rs.15 crores under section 68 of the I.T. Act, 1961.2. We have heard the Learned Representatives of both the parties through video conferencing and perused the material on record.3. Brief facts of the case are that assessee submitted return of income on 28.09.2010 declaring income of Rs.25,74,26,310/- which was processed under section 143(1) of the Income Tax Act, 1961. A search & seizure operation under section 132 of the Act was carried out on 10.12.2012 in the case of the assessee, wherein various premises of the assessee were covered. In response to notice under section 153A of the I.T. Act, the assessee submitted the return of income on 10.05.2014 declaring the same income. The assessee company is stated to have been engaged in the business of civil contractor.3.1. It was observed by the A.O. that there is a substantial increase in the share capital and introduction of share premium amounting to Rs.15 crores during the year under consideration and accordingly, the assessee was asked to submit the details to substantiate the identity of the shareholders, genuineness of the transaction and creditworthiness of the investors so as to discharge the onus and substantiate the share capital and premium thereon, as shown to have been received from 35 persons / Group.3.2. During assessment proceedings, assessee provided various details of Investors such as copy of ITR, bank statements and confirmation etc., However, in some cases either confirmation has not been provided or ITR/bank statements not provided. The said details have been mentioned in a tabulated form for each of the Investor as incorporated in the body of the assessment order. After examination, the A.O. recorded reasons for rejection of such evidences or material in each case and finding thereof. The main reason for addition as pointed-out in the Order is that the Investors have not disclosed adequate income to justify their credibility to make such investments, the funds were credited in the bank account of such investors immediately before payments to the assessee by cheque towards such share application, there has been consecutive credit and debit entries in the bank statements of the Investors and hence, it was treated by the A.O. as not genuine Investors and conduit to arrange funds. Therefore, the A.O. invoked provisions of Section 68 of the Act stating that payments received by the assessee as share capital/premium thereon is mere document and correctness of the same is questionable. The receipts of funds by the assessee are not normal and against human probabilities. It is also mentioned by the A.O. that "even if legally correct, the whole chain of circumstances is not logically justified". The A.O. accordingly made addition of Rs.15 crores under section 68 of the I.T. Act, 1961.3.3. The assessee challenged the addition before the Ld. CIT(A). The detailed written submissions of the assessee is incorporated in the impugned order. The assessee submitted before the Ld. CIT(A) that the reasons putforth by the A.O. for rejecting the evidence and material on record can be summarized as follows :The financials/income of the investors does notjustify their credibility to make such huge investments;Explanation of bank account of investors showsthat funds were credited in their accounts immediately before the chegue payment was made to assessee towards share application; The consecutive credit& debit entries appearing in the bank statements of the investors clearly indicate that it is not a genuine investor and is just a conduit to transfer funds from one source to other destination;The Assessee has failed to prove genuineness oftransactions of receipt of funds as share capital/premium as mere documents were submitted of which correctness was questionable;The explanation furnished even with documentswas not found satisfactory in view of all the reasons discussed at length which prove that receipt of funds by assessee from investors was not normal and against human probabilities; Even if legally correct, the whole chain oftransactions is not logically justifiable. In the case of the Assessee there is enough evidence which shows that the explanation submitted about nature and source of credit is not correct."3.4. It was explained in the written submissions that assessee has received Rs.2.50 crores as share capital/ premium from individuals/HUFs who are either closely related to or friends/business associates of the promoters of the assessee company and a sum of Rs.12.50 crores has been received from various companies incorporated under the provisions of Companies Act. The assessee filed complete details before A.O. in response to the query of the A.O. to prove identity of the investors, their creditworthiness and genuineness of the transaction in the matter. Therefore, initial onus upon assessee to prove genuineness of the transaction have been discharged by the assessee. It was submitted that the parties from whom share capital/ premium has been received during the year are either limited companies incorporated under the provisions of Companies Act or Individuals/HUFs. In this regard, confirmations, bank statements, income tax returns and balance-sheets wherever applicable were duly filed before A.O, copies of the same were also filed before Ld. CIT(A). It was submitted that in so far as depositors/investor companies are concerned no doubt can exist or even arise with respect to their identity since they are incorporated under Companies Act. Thus, their existence and identity have been proved by furnishing their Certification of Incorporation issued by Registrar of Companies. In case of Individual/HUFs Investors complete details were filed along with their names, addresses and PAN, therefore, their identity have been established. As regards determination of the creditworthiness of the Investors, the A.O. laid stress on the fact that there were no credit balances in the accounts of the Investors and only cheques were credited before issue of the cheque to the assessee company. It was submitted that there is no onus upon assessee to prove source of the source in order to prove creditworthiness of the depositor. They were having sufficient funds in their bank accounts before making investment in assessee company and no cash transaction had taken place in any of the bank accounts of the Investors. Therefore, creditworthiness of the Investors have been proved because of transactions have also been confirmed by the Investors. There is no material available on record to prove or even remotely suggest that share application money received actually emanated from the assessee company. All the transactions are independent and were carried out through normal banking channel and have been confirmed by the Investors. No direct or indirect or substantial evidence have been brought on record to dispute the genuineness of the transaction in the matter. It was also submitted that since all the Investors are assessed to tax and have confirmed transaction with assessee and they have also confirmed nature of the transaction with assessee along with their source, therefore, assessee has proved genuineness of the transaction in the matter also. There is no evidence to prove that Investor is just a conduit to transfer funds. No incriminating material was found during the course of search so as to prove that assessee received any bogus investment on account of share capital/premium. Therefore, Doctrine of Human Probability would not be applicable in the case of the assessee. In support of his contention, assessee relied upon Judgment of the Hon'ble Delhi High Court in the case of Pr. CIT vs., Kurele Paper Mills Pvt. Ltd., 380 ITR 571 (Del.) in which it was held that when no incriminating material or evidence related to share capital issue was found during the course of search, A.O. was not justified in invoking Section 68 of the I.T. Act. The assessee also relied upon Judgment of the Hon'ble Supreme Court in the case of CIT vs., Orissa Corporation Pvt. Ltd., 159 ITR 78 (SC), Judgment of Hon'ble Gujarat High Court in the case of CIT vs., Rohini Builders 256 ITR 360 (Guj.), Judgment of Hon'ble Gauhati High Court in the case of Nemichand Kothari vs., CIT 264 ITR 254 (Gau.), Judgments of Hon'ble Delhi High Court in the case of CIT vs., Sivadhooti Pearls Investment Ltd., 237 Taxman 104 (Del.) and MOD Creations Pvt. Ltd., vs., ITO 354 ITR 282 (Del.). The assessee also relied upon several decisions including Judgment of Hon'ble Supreme Court in the case of CIT vs., Lovely Exports Pvt. Ltd., 216 CTR 195 (SC) in support of the contention that assessee received genuine share capital/ premium.3.5. The Ld. CIT(A) considering the explanation of assessee and material on record confirmed the addition of Rs.3,69,50,000/- in respect of 09 Investors, however, balance of the addition in a sum of Rs.11,30,50,000/- was deleted for remaining 26 Investors. The findings of the Ld. CIT(A) in paras 8.1 to 8.8 of the impugned order is reproduced as under :(supra), ACIT vs., Kurele Paper Mills P. Ltd., 380 ITR 571 (Delhi), MOD Creations P. Ltd., 354 ITR 282 (Delhi) etc., the addition amounting to Rs.11,30,50,000/- is deleted. The appellant gets part relief on this ground of appeal."4. The Ld. D.R. relied upon the Order of the A.O. and submitted that assessee did not furnish sufficient evidence to prove the creditworthiness of the Investors, their genuineness of the transaction is not proved. The Ld. CIT(A), therefore, wrongly deleted the addition. The Ld. D.R. relied upon the Order of the ITAT, Delhi Bench in the case of ITO vs., Synergy Finlease Pvt. Ltd., ITA.No.4778/Del./2013, Dated 08.03.2019 and Judgment of the Hon'ble Supreme Court in the case of PCIT vs., NRA Iron & Steel Pvt. Ltd., [2019] 412 ITR 161 (SC) on the proposition that if assessee failed to prove the creditworthiness of the creditors and genuineness of the transaction, the addition under section 68 is justified.5. Learned Counsel for the Assessee reiterated the submissions made before the Ld. CIT(A) and submitted that whatever addition has been confirmed by the Ld. CIT(A), assessee has opted to settle the matter in VIVAD SE VISHWAS SCHEME, 2020 and assessee's appeal has been withdrawn separately. Learned Counsel for the Assessee submitted that as regards the remaining Investors, in the cases of Individual and HUF assessee furnished their confirmations, bank statements and ITR and wherever balance-sheet have been prepared by the Investor Companies, their balance-sheets have also been filed which shows their worth to make investment in assessee company. Copies of the same are filed in the paper book. He has also filed copy of the documents filed with the Registrar of Companies regarding the allotment of shares. He has, therefore, submitted that assessee has proved identity of the Investors, their creditworthiness and genuineness of the transaction in the matter. The A.O. did not make any investigation on the documentary evidences filed by the assessee and without any reasons or cause rejected the explanation of assessee which have been correctly considered by the Ld. CIT(A) for deleting the addition. The A.O. cannot ask the assessee to prove the source of the source. He has relied upon Judgments as have been mentioned and referred to in the submissions of the assessee before the Ld. CIT(A).6. We have considered the rival submissions and perused the material available on record as regards Departmental appeal. In the present case the A.O. noted that assessee has received share capital/premium from 35 Parties/Group. The assessee was directed to file the evidences to prove identity of the Investors, their creditworthiness and genuineness of the transaction. The assessee in respect of these investors filed their confirmation, PAN, ITR and bank statements and wherever applicable filed the copies of the balance-sheet of the Investor companies. The A.O. did not doubt the documentary evidences filed by assessee. No Investor was asked to appear before A.O. for recording their statements regarding genuineness of the transaction in the matter. No cash was found to have been deposited in the accounts of the Investors before making investment in assessee company. The A.O. did not make any investigation or enquiry with regard to worth of the Investors, whether they are able to make investment in assessee-company. Merely because low income have been declared in the return of income by the Investor is no ground to reject the explanation of assessee and documentary evidences, particularly when no enquiry or investigation have been made with regard to worth of the Investor companies. Merely because credits were appearing in the bank accounts of the Investors through banking channel before making investment in assessee company is no ground to discard the explanation of assessee. Therefore, whatever reasons have been given by the A.O. to differ with the explanation of assessee are not relevant to decide the matter in issue. It is a case of no enquiry by the A.O. either directly from the Investors or on the documentary evidences filed by the assessee. No incriminating material is also found during the course of search related to receipt of share capital /premium so as to show if assessee received any bogus share capital or premium in the matter. There were sufficient funds available in the bank accounts of the Investors to make investment in assessee-company. The Investors who are assessed to tax and have filed their return of income and all the transactions are carried-out through banking channel. It is well settled Law that A.O. cannot ask the assessee to prove source of the source. We rely upon the following decisions :1. Dwarkadhish Investment P. Ltd., [2011] 330 ITR 298 (Del.) (HC)2. Rohini Builders 256 ITR 360 (Guj).3. Zafar Ahmed & Co. 30 taxman.com 269 (All.)6.1. Therefore, initial onus upon the assessee to prove identity of the Investors, their creditworthiness and genuineness of the transaction have been discharged by the assessee. The A.O. has, however, did not bring any evidence on record to discredit the documentary evidences filed by the assessee to invoke Section 68 of the I.T. Act, 1961 or to prove that the share capital/premium money came from the coffers of the assessee. The Ld. CIT(A) considered the issue in detail and found the explanation of assessee to be correct for the purpose of deleting the part addition. The Ld. CIT(A) was, therefore, justified in holding that assessee proved identity of the remaining Investors, their creditworthiness and genuineness of the transaction in the matter. We rely upon the following decisions.6.2. CIT vs. Fair Investment Ltd., 357 ITR 146 in which it was held that A.O. did not summon investors and did not make efforts. There is no finding that material disclosed was untrustworthy. The Appellate Authorities rightly deleted the addition.6.3. Decision of Supreme Court in the case of CIT vs. Lovely Exports Pvt. Ltd., (2008) 216 CTR 195 in which it was held as under:"If the share application money is received by the assessee company from alleged bogus shareholders, whose names are given to the AO, then the Department is free to proceed to reopen their individual assessments in accordance with law, but it cannot be regarded as undisclosed income of assessee company."6.4. Decision of Hon'ble jurisdictional High Court in the case of CIT vs. Kamdhenu Steel and Alloys Ltd., &Ors. 361 ITR 220 (Del.) in which it was held as under :"Once adequate evidence/material is given, which would prima facie discharge the burden of the assessee in proving the identity of shareholders, genuineness of the transaction and creditworthiness of the shareholders, thereafter in case such evidence is to be discarded or it is proved that it has "created" evidence, the Revenue is supposed to make thorough probe before it could nail the assessee and fasten the assessee with such a liability under s.68; AO failed to carry his suspicion to logical conclusion by further investigation and therefore addition under s.68 was not sustainable."6.5. Decision of Hon'ble jurisdictional High Court in the case of CIT vs. Vrindavan Farms Pvt. Ltd., etc. ITA.No.71 of 2015 dated 12th August, 2015 (Del.), in which it was held as under :"The sole basis for the Revenue to doubt their creditworthiness was the low income as reflected in their return of income. It was observed by the ITAT that the AO had not undertaken any investigation of the veracity of the documents submitted by the assessee, the departmental appeal was dismissed by the Hon'ble High Court.6.6. Decision of jurisdictional High Court in the case of CIT vs. Laxman Industrial Resources Pvt. Ltd., ITA.No.169 of 2017 dated 14th March, 2017, in which it was held as under :"The CIT(A) took note of the material filed by the assessee and provided opportunity to the AO in Remand proceedings. The AO merely objected to the material furnished but did not undertake any verification. The CIT(A) deleted the addition by relying upon the decision of the Hon'ble Apex Court in the case of Lovely Exports Pvt.Ltd. (supra) and judgment of Delhi High Court in the case of CIT vs Divine Leasing & Finance Ltd. [2008] 299 ITR 268. The ITAT confirmed the opinion of the Ld.CIT(A). Hon'ble High Court in view of the above findings noted that the assessee had provided several documents that could have showed light into whether truly the transactions were genuine. The assessee provided details of share applicants i.e. copy of the PAN, Assessment particulars, mode of amount invested through banking channel, copy of resolution and copies of the balance sheet. The AO failed to conduct any scrutiny of the document, the departmental appeal was accordingly dismissed.6.7. Decision of the Hon'ble Supreme Court in the case of Earth Metal Electric Pvt. Ltd., vs. CIT dated 30th July, 2010 in SLP.No.21073 of 1999, in which it was held as under :"We have examined the position, we find that the shareholders are genuine parties. They are not bogus and fictitious therefore, the impugned order is set aside."6.8. Decision of Hon'ble M.P. High Court in the case of CIT vs. Peoples General Hospital Ltd., (2013) 356 ITR 65, in which it was held as under :"Dismissing the appeals, that if the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made under section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that the shareholders were benamidars or fictitious persons or that any part of the share capital represented the company's own income from undisclosed sources. It was nobody's case that the non- resident Indian company was a bogus or non-existent company or that the amount subscribed by the company by way of share subscription was in fact the money of the assessee. The assessee had established the identity of the investor who had provided the share subscription and that the transaction was genuine. Though the assessee's contention was that the creditworthiness of the creditor was also established, in this case, the establishment of the identity of the investor alone was to be seen. Thus, the addition was rightly deleted. CIT v. Lovely Exports P. Ltd. [2009] 319ITR (St.) 5 (SC) applied."6.9. Decision of Hon'ble jurisdictional High Court in the case of CIT vs. (i) Dwarakadhish Investment P. Ltd., (ITA.No. 911 of 2010) and (ii) Dwarkadhish Capital P. Ltd., (ITA.No.913 of 2010) (2011) 330 ITR 298 (Del.) (HC), in which it was held as under :"In any matter, the onus of proof is not a static one. Though in section 68 of the Income Tax Act, 1961, the initial burden of proof lies on the assesses yet once he proves the identity of the creditors/share applicants by either furnishing their PAN number or income-tax assessment number and shows the genuineness of transaction by showing money in his books either by account payee cheque or by draft or by any other mode, then the onus of proof would shift to the Revenue. Just because the creditors/share applicants could not be found at the address given, it would not give the Revenue the right to invoke section 68. One must not lose sight of the fact that it is the Revenue which has all the power and wherewithal to trace any person. Moreover, it is settled law that the assessee need not to prove the "source of source". The assessee-company was engaged in the business of financing and trading of shares. For the assessment year 2001-02 on scrutiny of accounts, the Assessing Officer found an addition of Rs.71,75,000 in the share capital of the assessee. The Assessing Officer sought an explanation of the assessee about this addition in the share capital. The assessee offered a detailed explanation. However, according to the Assessing Officer, the assessee failed to explain the addition of share application money from five of its subscribers. Accordingly, the Assessing Officer made an addition of Rs.35,50,000/- with the aid of section 68 of the Act, 1961 on account of unexplained cash credits appearing in the books of the assessee. However, in appeal, the Commissioner of Income-tax (Appeals) deleted the addition on the ground that the assessee had proved the existence of the shareholders and the genuineness of the transaction. The Income-tax Appellate Tribunal confirmed the order of the Commissioner of Income-tax (Appeals) as it was also of the opinion that the assessee had been able to prove the identity of the share applicants and the share application money had been received by way of account payee cheques. On appeal to the High Court: Held, dismissing the appeals, that the deletion of addition was justified."6.10. Decision of Hon'ble jurisdictional High Court in the case of CIT vs. WinstralPetrochemicals P. Ltd., 330 ITR 603, in which it was held as under :"Dismissing the appeal, that it had not been disputed that the share application money was received by the assessee-company by way of account payee cheques, through normal banking channels. Admittedly, copies of application for allotment of shares were also provided to the Assessing Officer. Since the applicant companies were duly incorporated, were issued PAN cards and had bank accounts from which money was transferred to the assessee by way of account payee cheques, they could not be said to be non-existent, even if they, after submitting the share applications had changed their addresses or had stopped functioning. Therefore, the Commissioner (Appeals) and the Tribunal were justified in holding that the genuineness of the transactions had been duly established by the assessee."6.11. Decision of Hon'ble jurisdictional High Court in the case of CIT vs. Value Capital Services Pvt. Ltd., (2008) 307 ITR 334 (Del.) (HC), in which it was held as under :"Dismissing the appeal, that the additional burden was on the Department to show that even if the share applicants did not have the means to make the investment, the investment made by them actually emanated from the coffers of the assessee so as to enable it to be treated as the undiscl

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osed income of the assessee. No substantial question of law arose."6.12. Judgment of Hon'ble Delhi High Court in the case of Pr. CIT vs., Kurele Paper Mills P. Ltd., 380 ITR 571 (Del.) in which Hon'ble Delhi High Court held as under :"Held, dismissing the appeal, that the order of the Commissioner (Appeals) revealed that there was a factual finding that no incriminating evidence related to share capital issued was found during the course of search as was manifest from the Order of the Assessing Officer. Consequently, it was held that the Assessing Officer was not justified in invoking section 68 of the Income-tax Act, 1961, for the purposes of making additions on account of share capital. There was nothing to show that the factual determination was perverse."6.13. Considering the facts of the case in the light of material evidence on record which is produced before the authorities below, it is clear that assessee produced sufficient documentary evidences before A.O. to prove the ingredients of Section 68 of the I.T. Act. The A.O. however, did not make any further enquiry on the documents filed by the assessee and also did not make any inquiry from the Investors directly or indirectly. The A.O. thus, failed to conduct scrutiny of the documents at assessment stage and merely suspected the transaction between the Investors and the assessee. The A.O. has also not brought any evidence on record that even if the share applicants did not have the means to make the investments, the investments made by them actually emanated from the coffers of the assessee so as to enable it to be treated as undisclosed income of the assessee. Considering the totality of the facts and circumstances of the case, it is clearly proved that assessee discharged its initial onus to prove the identity of the Investors, their creditworthiness and genuineness of the transaction in the matter. The Ld. CIT(A), therefore, rightly deleted the part addition in respect of 26 creditors with reference to the present Departmental Appeal. The decisions relied upon by the Ld. D.R. are distinguishable on facts because in these cases assessee failed to prove the creditworthiness of the creditors. However, in the present case of the assessee, assessee has been able to prove creditworthiness of the Investors and genuineness of the transaction in the matter relevant to Department Appeal. We, therefore, do not find any infirmity in the Order of the Ld. CIT(A) in deleting the part addition of Rs.11,30,50,000/- . The Departmental Appeal fails and is dismissed.7. In the result, appeal of the Departmental dismissed.
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