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Documents citing Ankit P. Gupta , Mumbai vs Asst Cit Cir 16(1), Mumbai on 31 March, 2017

Ankit Gupta, Mumbai vs Ito 24(1)(3), Mumbai on 1 January, 2018

(a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those sub-clauses, and in 7 ITA No. 3395/Mum/2017 (A.Y. 2010-11) Ankit Gupta vs. ITO sub-clause (c) shall include all profits of the company up to the date of liquidation, 18[but shall not, where the liquidation is consequent on the compulsory acquisition of its undertaking by the Government or a corporation owned or controlled by the Government under any law for the time being in force, include any profits of the company prior to three successive previous years immediately preceding the previous year in which such acquisition took place].
Income Tax Appellate Tribunal - Mumbai Cites 4 - Cited by 1 - Full Document

Dy. Commissioner Of Income Tax, ... vs M/S.Aaryavart Infrastructure ... on 5 June, 2023

Hon'ble ITAT Ahmedabad in the case of Shri Ankit Maheshwari Vs. AClT Cir-2 surat in ITA No. 3556/Ahd/2008 & ITA No. 3655/Ahd/2008 examined in details various aspects related to section 68 of the Act and after considering various propositions in respect of lenders with that of appellant submission held in favor of appellant that once contra account with confirmation are filed with PAN and other details like status of latest return of income, Bank statement ITA No.2105/Ahd/2015 with CO 6 etc. Then there is no case for addition u/s 68 of the Act. As per established legal proposition the borrower need not to prove source of the source or credit worthiness of sub creditor. The appellant sufficiently explained about the difference of final balance in the form of plot maintenance charge of Rs.3,09,000/-. It is therefore A.O. is justified in making addition of Rs.1,31,50,000/- which is factually noti.e. the same should have been of Rs. 10,15,000/- and alsonot sustainable as per legal proposition of law. The AO is directed to delete the addition so made of Rs.1,31,50,000/-. The appellant gets relief accordingly. This ground is allowed."
Income Tax Appellate Tribunal - Ahmedabad Cites 26 - Cited by 0 - Full Document
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