ACIL Ltd. v. ACIT

137 Taxmann.com 339Reported decision2022#19048 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2025 to 2025.

Sections most often in play

Section 143(3)Section 271(1)(c)Section 274 Section 153 Section 153C Section 292B Section 115JB Section 144C(13)

Issues it is cited on

non application of mind furnishing inaccurate particulars of income furnishing inaccurate particulars non-application of mind penalty u/s 271(1)(c)section 274 concealment of income section 254 levy of penalty section 271(1)section 271 section 271(1)(c)

Judgments citing ACIL Ltd. v. ACIT

Everest Kanto Cylinder Ltd, Mumbai vs. DCIT Circle 3(4), Mumbai

In the result, the appeal of the assessee is allowed

ITA 5790/MUM/2025[2010-11]Status: DisposedITAT Mumbai10 Dec 2025AY 2010-11

Bench: Shri Rahul Chaudhary & Shri Prabhash Shankareverest Kanto Cylinder V/S. Deputy Commissioner Of Ltd. बनाम Income Tax, Circle – 3(4), 204,Raheja Centre, Free World Trade Centre 1, Cuffe Press Journal Marg, Parade, Mumbai – 400005, Nariman Point, Mumbai – Maharashtra 400 021, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace0836F Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Shekhar Gupta,ARFor Respondent: Shri Hemanshu Joshi, (Sr.DR)

Section 115JSection 143(3)Section 271(1)Section 271(1)(c)Section 274

…IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Everest Kanto Cylinder v/s. Deputy Commissioner of Ltd. बनाम Income Tax, Circle – 3(4), 204,Raheja Centre, Free World Trade Centre 1, Cuffe Press Journal Marg, Parade, Mumbai – 400005, Nariman Point, Mumbai – Maharashtra 400 021, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACE0836F Appellant/अपीलार्थी .. Respondent/प्रतिवादी Appellant by : Shri Shekhar Gupta,AR Respondent by : Shri Hemanshu Joshi, (Sr.DR) Date of Hearing 12.11.2025 Date of Pronouncement 10.12.2…

DCIT Central Circle 7 (1) Mumbai, Mumbai vs. Panther Investrade Limited, Mumbai

In the result, both the Cross appeals no

ITA 416/MUM/2025[2003-04]Status: DisposedITAT Mumbai04 Aug 2025AY 2003-04

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

For Appellant: Shri Rajiv Khandelwal & Akash Kumar, ARsFor Respondent: Shri Virabhadra S. Mahajan (Sr. DR)

Section 271(1)(c)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA no.416/MUM/2025 (A.Y. 2003-04) Deputy Commissioner of v/s. Panther Investrade Limited, Income Tax, Central Circle – बनाम 121, 1st Floor, Radha Bhavan 7(1), 653, 6th Floor, Aaykar Nagindas Master Road, Fort, Bhavan, M.K. Road, Mumbai – Mumbai – 400 023, 400 020, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACP3259R Appellant/अपीलार्थी .. Respondent/प्रतिवादी प्रत्याक्षेपसं./C.O. No.50/MUM/2025 (Arising out of ITA No. 416/MUM/2025) (A.Y. 2003-04) प्रत…

DCIT(Central Circle)-7(1), Mumbai vs. Panther Investrade Limited, Mumbai

In the result, both the Cross appeals no

ITA 415/MUM/2025[2002-03]Status: DisposedITAT Mumbai04 Aug 2025AY 2002-03

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

For Appellant: Shri Rajiv Khandelwal & Akash Kumar, ARsFor Respondent: Shri Virabhadra S. Mahajan (Sr. DR)

Section 271(1)(c)

DCIT, Central Circle - 7(1), Mumbai vs. Triumph Securities Ltd, Mumbai

In the result, the appeal of the revenue bearing ITA No

ITA 962/MUM/2024[2003-04]Status: DisposedITAT Mumbai15 Jan 2025AY 2003-04

Bench: Shri Amarjit Singh & Shri Anikesh Banerjee

For Appellant: Shri Rajiv Khandelwal (VirtuallyFor Respondent: Dr. P. Daniel – Spl. Counsel

Section 250Section 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER ITA No.962/Mum/2024 (Assessment Year: 2003-04) DCIT, Central Circle-7(1), vs TRIUMPH SECURITIES LTD, Mumbai, 121, Radha Bhavan, 1ST Floor, Room No.676B, 6th Floor, Nagindas, Master Road, Fort, Aayakar Bhavan, M.K. Road, Mumbai-400 023 Mumbai-400 020 PAN: AABCT1510A APPELLANT RESPONDENT Assessee by : Shri Rajiv Khandelwal (Virtually appeared) Respondent by : Dr. P. Daniel – Spl. Counsel Date of hearing : 16/01/2025 Date of pronouncement : 22/01/2025 ORDER PER ANIKESH…