358/183 ITD492andDy. CIT v. Kama Schachter Jewellery (P.) Ltd.

127 Taxmann.com 677Income Tax Appellate Tribunal2021#13365 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 to 2025.

Also reported as

189 ITD 21

Sections most often in play

Section 10DSection 10D(1)Section 271GSection 273BSection 92Section 92C(1)Section 92CASection 92CA(3)

Issues it is cited on

section 92d(3)section 271gsection 92ca(2)section 92dcost plus methodarms length pricesection 273bcup methodsection 92ca(1)section 92ca(3)arm's length pricetnmm

Judgments citing 358/183 ITD492andDy. CIT v. Kama Schachter Jewellery (P.) Ltd.

ACIT 5(1)(1), MUMBAI, MUMBAI vs. DHARMANANDAN DIAMONDS PVT. LTD., MUMBAI

In the result, the appeal of the Revenue is dismissed

ITA 3615/MUM/2025[2018-19]Status: DisposedITAT Mumbai03 Nov 2025AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassistant Commissioner Of V/S. Dharmanandan Diamonds Income Tax – 5(1)(1) बनाम Pvt. Ltd., Fc 7081 7082, Room No. 568, 5Th Floor, Bharat Diamond Bourse, G- Aaykar Bhavan, Churchgate, Block, Bandra Kurla Complex, Mumbai – 400 020, Bandra (East), Mumbai – Maharashtra 400 051, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaccd6676J Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Rajiv Shah, ARFor Respondent: Ms. Neena Jeph, (CIT-DR)
Section 271GSection 92Section 92D

…as been followed subsequently in various other decision of the tribunal rendered on similar factual matrix. Few of the recent decisions are DCIT V/s Decent Dia Jewels Private Ltd. (117 Taxmann.com 358; 13/03/2020) and DCIT V/s Kama Schachter Jewellery P.Ltd. (127 Taxmann.com 677; 08/02/2021). We find that fact in the appeal before us are quite identical to facts in all these decisions. Therefore, respectfully following these decisions, we confirm the impugned order deleting the penalty u/s 271G”. 5.1 The ld.CIT(A) further observed that the facts involved in the instant year were similar to the ones in AYs 2012-13…

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, SURAT vs. ANTRIX DIAMOND EXPORTS PVT. LTD.,, MUMBAI

In the result, these three appeals filed by the Revenue are dismissed

ITA 178/SRT/2022[2014-15]Status: DisposedITAT Surat21 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.176 To 178/Srt/2022 Assessment Years: (2012-13 To 2014-15) (Physical Hearing) The Acit, Central Circle-3, Vs. Antrix Diamond Exports Pvt. Ltd., Surat. 1006, Free Press Mark, Raheja Centre Nariman Point, Mumbai – 400021. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaca3403G (Revenue)/(Appellant) (Assessee)/(Respondent) Assessee By Ms Ekta Sanghvi, Ca Revenue By Shri Ashok B. Koli, Cit(Dr) Date Of Hearing 10/02/2023 21/03/2023 Date Of Pronouncement

Section 271GSection 92CSection 92D(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.176 to 178/SRT/2022 Assessment Years: (2012-13 to 2014-15) (Physical Hearing) The ACIT, Central Circle-3, Vs. Antrix Diamond Exports Pvt. Ltd., Surat. 1006, Free Press Mark, Raheja Centre Nariman Point, Mumbai – 400021. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACA3403G (Revenue)/(Appellant) (Assessee)/(Respondent) Assessee by Ms Ekta Sanghvi, CA Revenue by Shri Ashok B. Koli, CIT(DR) Date of Hearing 10/02/2023 21/03/2023 Date of Pronouncement आदेश / O R D E R PER DR. A. L. SAINI, AM: Capt…

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, SURAT vs. ANTRIX DIAMOND EXPORTS PVT. LTD.,, MUMBAI

In the result, these three appeals filed by the Revenue are dismissed

ITA 177/SRT/2022[2013-14]Status: DisposedITAT Surat21 Mar 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.176 To 178/Srt/2022 Assessment Years: (2012-13 To 2014-15) (Physical Hearing) The Acit, Central Circle-3, Vs. Antrix Diamond Exports Pvt. Ltd., Surat. 1006, Free Press Mark, Raheja Centre Nariman Point, Mumbai – 400021. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaca3403G (Revenue)/(Appellant) (Assessee)/(Respondent) Assessee By Ms Ekta Sanghvi, Ca Revenue By Shri Ashok B. Koli, Cit(Dr) Date Of Hearing 10/02/2023 21/03/2023 Date Of Pronouncement

Section 271GSection 92CSection 92D(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.176 to 178/SRT/2022 Assessment Years: (2012-13 to 2014-15) (Physical Hearing) The ACIT, Central Circle-3, Vs. Antrix Diamond Exports Pvt. Ltd., Surat. 1006, Free Press Mark, Raheja Centre Nariman Point, Mumbai – 400021. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACA3403G (Revenue)/(Appellant) (Assessee)/(Respondent) Assessee by Ms Ekta Sanghvi, CA Revenue by Shri Ashok B. Koli, CIT(DR) Date of Hearing 10/02/2023 21/03/2023 Date of Pronouncement आदेश / O R D E R PER DR. A. L. SAINI, AM: Capt…

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, SURAT vs. ANTRIX DIAMOND EXPORTS PVT. LTD.,, MUMBAI

In the result, these three appeals filed by the Revenue are dismissed

ITA 176/SRT/2022[2012-13]Status: DisposedITAT Surat21 Mar 2023AY 2012-13

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.176 To 178/Srt/2022 Assessment Years: (2012-13 To 2014-15) (Physical Hearing) The Acit, Central Circle-3, Vs. Antrix Diamond Exports Pvt. Ltd., Surat. 1006, Free Press Mark, Raheja Centre Nariman Point, Mumbai – 400021. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaca3403G (Revenue)/(Appellant) (Assessee)/(Respondent) Assessee By Ms Ekta Sanghvi, Ca Revenue By Shri Ashok B. Koli, Cit(Dr) Date Of Hearing 10/02/2023 21/03/2023 Date Of Pronouncement

Section 271GSection 92CSection 92D(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.176 to 178/SRT/2022 Assessment Years: (2012-13 to 2014-15) (Physical Hearing) The ACIT, Central Circle-3, Vs. Antrix Diamond Exports Pvt. Ltd., Surat. 1006, Free Press Mark, Raheja Centre Nariman Point, Mumbai – 400021. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACA3403G (Revenue)/(Appellant) (Assessee)/(Respondent) Assessee by Ms Ekta Sanghvi, CA Revenue by Shri Ashok B. Koli, CIT(DR) Date of Hearing 10/02/2023 21/03/2023 Date of Pronouncement आदेश / O R D E R PER DR. A. L. SAINI, AM: Capt…

DEPUTY COMMISSIONER OF INCOME TAX -5(3)(1), MUMBAI vs. RATNAKALA EXPORT PRIVATE LIMITED , MUMBAI

In the result, the appeal of the Revenue stands dismissed

ITA 5454/MUM/2017[2012-13]Status: DisposedITAT Mumbai25 May 2022AY 2012-13

Bench: Shri Prashant Maharshi () & Kavitha Rajagopal () Dy. Commissioner Of Income-Tax- Vs Ratnakala Export Pvt Ltd 5(3)(1), Room No.519, 5Th Floor Dc-7250, Bharat Diamond Bourse Aayakar Bhavan, M.K. Road Bkc Bandra (E), Mumbai-400 051 Mumbai-400 020 Pan : Aaecr3763L Appellant Respondent

Section 143(3)Section 271GSection 92Section 92CSection 92C(1)Section 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI PRASHANT MAHARSHI (ACCOUNTANT MEMBER) & KAVITHA RAJAGOPAL (JUDICIAL MEMBER) Dy. Commissioner of Income-tax- vs Ratnakala Export Pvt Ltd 5(3)(1), Room No.519, 5th Floor DC-7250, Bharat Diamond Bourse Aayakar Bhavan, M.K. Road BKC Bandra (E), Mumbai-400 051 Mumbai-400 020 PAN : AAECR3763L APPELLANT RESPONDENT Assessee represented by None Department represented by Shri Sunil Kumar Jha (CIT) Date of hearing 05/05/2022 Date of pronouncement 25/05/2022 ORDER Per Kavitha Rajagopal (JM): This appeal has been filed by the Revenue against the or…

DCIT-5(1)(2), MUMBAI vs. M/S DHARMANANDAN DIAMONDS PVT LTD.,, MUMBAI

In the result, the appeal of the Revenue is dismissed

ITA 4232/MUM/2019[2013-14]Status: DisposedITAT Mumbai19 May 2022AY 2013-14

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2013-14 Dy. Commissioner Of Income- M/S Dharmanandan Tax, Circle 5(1)(2), Diamonds Pvt. Ltd., R.No. 568, Aayakar Bhavan, Vs. Fc-7081-82, M.K. Road, Bharat Diamond Bourse, Mumbai-400020. Bkc, Bandra (East), Mumbai-400051. Pan No. Aaccd 6676 J Appellant Respondent Revenue By : Dr. Yogesh Kamat, Cit-Dr Assessee By : Rashmikant C. Modi/ Ketki Rajeshirke, Ars Date Of Hearing : 23/03/2022 Date Of Pronouncement : 19/05/2022

For Appellant: Rashmikant C. Modi/For Respondent: Dr. Yogesh Kamat, CIT-DR
Section 271GSection 92Section 92DSection 92D(3)

…as been followed subsequently in various other decision of the tribunal rendered on similar factual matrix. Few of the recent decisions are DCIT V/s Decent Dia Jewels Private Ltd. (117 Taxmann.com 358; 13/03/2020) and DCIT V/s Kama Schachter Jewellery P.Ltd. (127 Taxmann.com 677; 08/02/2021). We find that fact in the appeal before us are quite identical to facts in all these decisions. Therefore, respectfully following these decisions, we confirm the impugned order deleting the penalty u/s 271G.” 8. In view of the issue in dispute being identical to the issue in dispute in the order of the Tribunal (supra), respe…

ASST. COMMISSIONER OF INCOME TAX 5(1)(2), MUMBAI vs. DHARMANANDAN DIAMONDS P.LTD, MUMBAI

The appeal stand dismissed

ITA 649/MUM/2018[2012-13]Status: DisposedITAT Mumbai01 Oct 2021AY 2012-13

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील िं./ I.T.A. No.649/Mum/2018 (धििाारण वर्ा / Assessment Year: 2012-13) Acit–Circle-5(1)(2) M/S. Dharmanandan Diamonds (P) Ltd. Room No.568, 5Th Floor Fc-7081-7082, Bharat Diamond Bourse Vs. Aaykar Bhavan, M.K. Road G-Block, Bandra Kurla Bomplex Mumbai-400 020 Bandra (E), Mumbai-400 051 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaccd-6676-J (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Rashmikant Modi – Ld. Ar Revenue By : Shri Sunil Deshpande – Ld. Cit-Dr ुनवाई की तारीख/ : 22/07/2021 Date Of Hearing घोषणा की तारीख / : 01/10/2021 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeal By Revenue For Assessment Year (Ay) 2012-13 Arises Out Of The Order Of Ld. Commissioner Of Income Tax (Appeals)-55 Mumbai [Cit(A)] Dated 15/11/2017 Which Has Deleted Penalty Of Rs.2818.16 Lacs As Levied By Learned Assessing Officer (Ao) U/S. 271G Vide Order Dated 29/07/2016. 2. The Ld. Cit-Dr, Drawing Attention To The Factual Matrix, Justified The Penalty Levied By Ld. Ao Whereas The Ld. Ar Submitted That Keeping In View The Nature Of Business, The Details As Sought By Lower Authorities

For Appellant: Shri Rashmikant Modi – Ld. ARFor Respondent: Shri Sunil Deshpande – Ld. CIT-DR
Section 271G

…as been followed subsequently in various other decision of the tribunal rendered on similar factual matrix. Few of the recent decisions are DCIT V/s Decent Dia Jewels Private Ltd. (117 Taxmann.com 358; 13/03/2020) and DCIT V/s Kama Schachter Jewellery P.Ltd. (127 Taxmann.com 677; 08/02/2021). We find that fact in the appeal before us are quite identical to facts in all these decisions. Therefore, respectfully following these decisions, we confirm the impugned order deleting the penalty u/s 271G. 8. The appeal stand dismissed. Order pronounced on 1st October, 2021. (Mahavir Singh) (Manoj Kumar Aggarwal) उपाध्यक्ष…

358/183 ITD492andDy. CIT v. Kama Schachter Jewellery (P.) Ltd. (127 Taxmann.com 677) — Cited in 7 Judgments | BharatTax