THE ESTATE INVESTMENT COMPANY PRIVATE LIMITED ,MUMBAI vs. DCIT CENTRAL CIRCLE 8(1), MUMBAI

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ITA 3226/MUM/2025Status: DisposedITAT Mumbai28 October 2025AY 2018-19Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)3 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the facts of this case are identical to a batch of appeals decided by a coordinate bench. Following that decision, the appeal was allowed, and the addition of Rs. 59,05,000 was deleted on merits.

What were the facts?

The appeal arises from assessment and reassessment orders made after search and survey operations. The additions were based on diaries and loose papers found during the search, the evidentiary worth of statements recorded under Section 132(4), and consequential additions under capital gains.

What were the issues?

Whether additions made based on seized documents and statements are sustainable on merits and legality, especially when facts are identical to previously decided appeals.

Which sections of the Income-tax Act were involved?

Section 132(4)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘J(SMC

Before: SHRI AMIT SHUKLA & SHRI ARUN KHODPIA

For Appellant: Shri Madhur Agrawal, Adv. &, Shri Pankaj Jain, CA
For Respondent: Shri Ritesh Misra, CIT DR
Hearing: 19/08/2025Pronounced: 28/10/2025

आदेश / O R D E R PER AMIT SHUKLA (J.M): The present appeal emanates from the assessment and reassessment orders passed pursuant to search and survey operations conducted in the group cases of The Estate Investment Company Pvt. Ltd. The appeal has been filed against separate order passed by ld. CIT(A)-50, Mumbai. This appeal arises against order of ld. CIT(A) dated 04/03/2025.

1.

The Estate Investment Company Pvt. Ltd. Decision 2. The controversy, in essence, centers upon additions made on the basis of certain diaries and loose papers found during the course of search, the evidentiary worth of the statements recorded under section 132(4), and the consequential additions under capital gains on alleged NOC receipts of the Act of Rs.59,05,000 confirmed by the CIT [A).

3.

The facts of this case are ispo facto the same and identical with the facts in the batch of appeals nos. 3012 /Mum/2025, 3228/Mum/2025 , 3013/Mum/2025 , 3227/Mum/2025 , 3225/Mum/2025 , 3224/Mum/2025 , 3223/Mum/2025 & 3222/Mum/2025decided by the ‘E’ Bench of the ITAT vide order dated 17/10/2025 relating to the assessee company and respectfully following the decision of coordinate bench which is based on exact same facts and material, this appeal of the assessee is allowed and the addition of Rs. 59,05,000 is deleted on merits and the assesses grounds on the legality of the Order is also allowed. 4.All the grounds of appeal filed by the assessee are allowed in full, No order as to costs. Order pronounced on 28th October, 2025.

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