41 (Delhi). (ii) Indo Aden Salt Mfg. & Trading Co. (P) Ltd. v. CIT

MR.SHAFAAT M HUSAIN,MUMBAI vs. ACIT - 17(3), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2013-14 Mr. Shafaat M. Husain, Acit – 17(3) 11, Jolly Maker Apts Iii, Mumbai - 400007 Cuffe Parade, Vs. Colaba, Mumbai – 400 005 Pan: Aaaph5013Q (Appellant) (Respondent) Present For: Assessee By : Shri Ritu Kamal Kishor, A.R. Revenue By : Shri T. Khalsa, D.R. Date Of Hearing : 07.07.2021 Date Of Pronouncement : 02.09.2021 O R D E R Per Rajesh Kumar: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 04.07.2018 Of The Commissioner Of Income Tax (Appeals) [Hereinafter Referred To As The Cit(A)] Relevant To Assessment Year 2013-14. 2. The Assessee Has Raised The Following Grounds: “1. A) The Ld. Cit (A) Has Erred In Passing An Order Without Giving An Opportunity To Explain The Case. The Same Be Considered & Addition Be Deleted. B) The Ld. Cit (A) Erred In Not Accepting The Plea Of The New Authorized Representative Of The Assessee With Regard To The Date Of Hearing. The Same Be Considered & An Opportunity Be Given. 2. A) Without Prejudice To The Above, The Ld. Cit (A) Grossly Erred In Not Considering The Amount Of Rs. 4,39,07,574/- Being Inheritance From His Father By Way Of Will. The Same Be Considered & Addition Be Deleted B) The Ld. Cit (A) Has Failed To Consider That The Assessee'S Father Was A Renowned Painter & Hence His Credibility Could Not Be Doubted. The Same Be Considered & Addition Be Deleted.

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year: 2013-14 Mr. Shafaat M. Husain, ACIT – 17(3) 11, Jolly Maker Apts III, Mumbai - 400007 Cuffe Parade, Vs. Colaba, Mumbai – 400 005 PAN: AAAPH5013Q (Appellant) (Respondent) Present for: Assessee by : Shri Ritu Kamal Kishor, A.R. Revenue by : Shri T. Khalsa, D.R. Date of Hearing : 07.07.2021 Date of Pronouncement : 02.09.2021 O R D E R Per Rajesh Kumar, Accountant Member: The present appeal has been preferred by the assessee against the order dated 04.07.…

ADITYA BIRLA TELECOM LTD,MUMBAI vs. ASST CIT 5(1), MUMBAI

Bench: Sri Mahavir Singh, Vp & Sri Rajesh Kumar, Am आयकर अपील िं./ Ita No. 2350/Mum/2013 (निर्ाारण वर्ा / Assessment Year 2007-08) Vodafone Idea Limited The Asst. Commissioner Of (Successor To Aditya Birla Telecom Income Tax Limited) Aayaker Bhavan, M.K. Road, बिाम/ 10Th Floor, Birla Centurion, Century Churchgate, Mumbai Vs. Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा िं./Pan No. Aaacb2100P अपीलार्थी की ओर े/ Appellant By : Shri Yogesh Thar, Ar प्रत्यर्थी की ओर े/ Respondent By : Shri Michael Jerald, Sr.Dr ुिवाई की तारीख / Date Of Hearing: 22.07.2020 घोर्णा की तारीख / Date Of Pronouncement: 11.08.2020 आदेश / O R D E R

…Limited ; AY 07-08 disputed that such reasons recorded before the issue of notice under section 148 of the Act was communicated to the appellant. On similar facts, Hon'ble Supreme Court in the case of Indo Aden Salt Manufacturing and Trading Co. P Ltd. (1986) 159 ITR 624 (SC) held that the Assessing Officer could reasonably be said to have material to form the belief that there was under assessment owing to failure from an omission on the part of the assessee to disclose fully and truly all material facts necessary for the assessment within the meaning of section 147(a) of the Act [now proviso to section 147 of t…

M/S. CMC LTD,MUMBAI vs. THE ACIT RG 10(1), MUMBAI

In the result, this appeal filed by the assessee stands partly allowed

Bench: Shri Shamim Yahya (Am) & Shri Ramlal Negi (Jm)

…ssessment u/s. 147 on the ground that this is a change of opinion by the assessing officer had the same is not permitted u/s. 147 of the Act. Contention made by the assessee is not acceptable. In the case of Indo Aden Salt Manufacturing & Trading Co. P. Ltd. (159 ITR 624) it has been held that mere production of evidence before the assessing officer is not enough. There may be omission or failure to make a true and full disclosure, if some material for the assessment lay embedded in the evidence which the assessee could have uncovered but did not, and then it is the duty of the assessee to bring it to the notice…

DCIT 15(1)(1), MUMBAI vs. A.J. BUILDCON P.LTD, MUMBAI

In the result, the appeal filed by the revenue is hereby ordered to be partly allowed

Bench: Shri B. R. Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.6204/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2009-10) The Dy. Cit 15(1)(1), बिधम/ M/S. A. J. Buildcon Pvt. Ltd. Mumbai Room No. 470, 4Th 514, Marathon Max, Opp, Vs. Floor, Aayakar Bhavan, Nirmal Life Style, Lbs Maharshi Karve Road, Road, Mulund (W), Mumbai-400020. Mumbai-400080. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagca6548Q (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri M. V. Rajguru (Dr) Assessee By: Shri Dr. P. Daniel सुनवाई की तारीख / Date Of Hearing: 01.06.2018 घोषणा की तारीख /Date Of Pronouncement: 29.06.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 22.07.2016 Passed By The Commissioner Of Income Tax (Appeals) -24, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2009- 10. 2. The Revenue Has Raised The Following Grounds: - “1. "On The Farts & In The Circumstances Of The Case & In Taw, The Ld. C1T(A) Erred Directing The Assessing Officer To Delete The Entire Disallowance Of Rs.67,99Hl3Q/-Mad Account Of Alleged Bogus Purchases, Without Appreciating The Fact That The Said Seller Pa Were Found To Be Hawala Operators/ Bogus Billers?, As Per Findings Given By (He Sales A.Y.2009-10

…computation held by Hon'ble Supreme Court in the following cases that fads which could have been found by the ITO by further probing are covered under failure to disclose fully and truly has material facts:- Indo-Aden Salt Mfg, and Trading Co. P. Ltd. vs.ClT 159 ITR 624 (SC) R.B,Bansilal Abirchand Firm vs. CIT 70 ITR 74 (SC) 2.4.22 In such circumstances, it cannot be held that there was full and true disclosure by the appellant. Accordingly, the second contention of the appellant fails. 2 4 23 In view of the above binding precedents of the Hon'ble Supreme Court, I am of the view that the Ld. A.O. had valid 10 A…

VINOD K.SHAH,MUMBAI vs. ITO 16(1)(1), MUMBAI

In the result, the assessee’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

…t is also held by Hon'ble Supreme Court in the following cases that facts which could have been found by the ITO by further probing are covered under failure to disclose fully and truly all material facts:- Indo - Aden Salt Mfg. and Trading Co. P. Ltd. YS.CIT 159 ITR 624 (SC) R.B. Bansilal Abirchand Firm vs. CIT 70 ITR 74 (SC) 2.4.26 In such circumstances, it cannot be held that there was full and true disclosure by the appellant. Accordingly, the second contention of the appellant fails. 2.4.27 In view of the above binding precedents of the Hon'ble Supreme Court, I am of the view that the Ld. AO had valid reason…

VINOD K SHAH,MUMBAI vs. ITO 16(1)(1), MUMBAI

In the result, the assessee’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

…t is also held by Hon'ble Supreme Court in the following cases that facts which could have been found by the ITO by further probing are covered under failure to disclose fully and truly all material facts:- Indo - Aden Salt Mfg. and Trading Co. P. Ltd. YS.CIT 159 ITR 624 (SC) R.B. Bansilal Abirchand Firm vs. CIT 70 ITR 74 (SC) 2.4.26 In such circumstances, it cannot be held that there was full and true disclosure by the appellant. Accordingly, the second contention of the appellant fails. 2.4.27 In view of the above binding precedents of the Hon'ble Supreme Court, I am of the view that the Ld. AO had valid reason…