151 ITR 571 (Pat.); CIT v. Neemar Ram Badlu Ram

Asst CIT 7(2), Mumbai vs. Surednra M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Asst CIT 7(2), Mumbai vs. Surednra M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Asst CIT 7(2), Mumbai vs. Surendera M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Asst CIT 7(2), Mumbai vs. Surendera M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Asst CIT 7(2), Mumbai vs. Surendera M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Asst CIT 7(2), Mumbai vs. Surendera M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Asst CIT 7(2), Mumbai vs. Surendera M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Asst CIT 7(2), Mumbai vs. Surendera M Khandhar, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Ble

…03.2005 for the A.Ys.1988-89, 1989-90 & 1990-91 has set-aside the order of the Assessing Officer. The Coordinate Bench has also directed Assessing Officer to follow the order of the ITAT ‘C’ bench in the assessee’s own case for the A.Y.1991-92 reported in the 76 ITD 121. In this order, the Bench has set-aside the order of the Assessing Officer and restored the matter to the file of the Assessing Officer for fresh assessment in the light of the observation made by the Coordinate Bench in its order for the A.Y.199 1-92. The Coordinate Bench in 72 ITD 121 (Mum.) has given a specific direction as under: - “We direct…

Ritesh Hasmukhlal Jain, Mumbai vs. ITO WD 14(1)(4), Mumbai

In the result, the assessee’s appeal is partly allowed

Bench: Shri Sanjay Arora, Am आयकर अपील सं./I.T.A. No. 7360/Mum/2014 ("नधा"रण वष" / Assessment Year: 2007-08) Ritesh Hasmukhlal Jain Ito, Ward 14(1)(4), बनाम/ 93/115, 2Nd Floor, Raut Estate, 2Nd Floor, Earnest House, Koliwada, Fanaswadi, Nariman Point, Mumbai-400 021 Vs. Mumbai-400 002 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Addpj 8427 C (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri M. N. Vaishnav ""यथ" क" ओर से/Respondent By : Shri Vishwas Jadhav

…, did not inspire confidence, being cash memos not bearing the assessee’s name as the purchaser. Even the alternate plea of the assessment of peak amount was considered not acceptable, relying on the decisions in the case of Surendra M. Khandhar v. CIT [2010] 76 ITD 121 (Bom) and CIT vs. Vijay Agricultural Industries [2007] 294 ITR 610 (All). The assessee’s case having been dismissed thus, he is in second appeal. 3. The parties were heard at length, and the case record perused. 3 Ritesh Hasmukhlal Jain vs. ITO The first issue arising for determination is whether the cash deposits represent, as claimed, the sale…

M/S. Ishita Dye Chem Pvt. Ltd., Mumbai vs. DCIT Cen. Cir. - 14, Mumbai

In the result, the appeal is partly allowed for statistical purpose

Bench: Shri G S Pannu, Am & Shri Sanjay Garg, Jm "नधा"रण वष" / Assessment Year : 1998 - 99 Eshita Dye Chem Pvt. Ltd. The Dy. Cit Cent. Cir. 14, 208, Parshva Chambers, Mumbai Vs 19/21, Issaji Street, Vadgadi, Mumbai – 400 003 Pan Aaace1467C (अपीलाथ" /Appellant) (""यथ"/Respondent)

…and circumstances, the issue is squarely covered by several decisions of the Tribunal. The Tribunal on identical facts and circumstances in ITA No.877 and 878/Mum/99 dt. 03.12.2003 while relying upon another decision in the case of S M Khandhar reported in 76 ITD 121 has upheld the part conclusion of the IT Authorities that the bank accounts in question belong to SM Khandhar but has further held that only peak credit in this accounts could be added. However, in case of other assessee’s, the Tribunal relying upon the decision of ACIT vs. Raj Enterprise (ITA No.3081/Mum/97, dt. 03.01.2003) has held that since…