2023 (10) TMI 705

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... For the Appellant Through: Mr Sanjay Kumar, Sr Standing Counsel with Ms Easha and Ms Hemlata Rawat, Advs. For the Respondent Through: None. RAJIV SHAKDHER, J. (ORAL): CM No.49729/2023 in ITA 553/2023 1. Allowed, subject to just exceptions. CM No.49728/2023 in ITA 552/2023 CM No. 49730/2023 in ITA 553/2023 [Applications filed on behalf of the appellant seeking condonation of dela....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tter of fact, a perusal of the impugned order would show that it also dealt with AY 2013-14, besides the AYs referred to hereinabove. The Tribunal, thus, dealt with three appeals, which were preferred against the order dated 13.11.2017 passed by the Commissioner of Income Tax (Appeals) [in short, "CIT(A)"]. 8. The record shows that a search was conducted qua a group known as the J.P. Minda Grou....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sides this, an addition amounting to Rs. 33,77,29,500/- was made on substantive basis qua AY 2011-12. 13. As regards AY 2012-13, Rs. 6,60,00,000/- was added on protective basis. 14. The Tribunal notes after it examined the record that the CIT(A) had returned a finding that the subject transactions, which involved investment in the companies which formed the J.P. Minda Group, were genuine. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ehalf of the appellant/revenue, has placed before us the order dated 26.09.2022 rendered by the coordinate bench of this court in a bunch of appeals, including ITA No. 360/2022, titled Pr. Commissioner of Income Tax (Central) - 2 v. Jay Fe Cylinder Ltd. 18. A perusal of the aforesaid order shows that the court had concluded that no incriminating material was found qua the investment companies v....