Avirat Star Homes Venture P. Ltd. v. ITO

Ratnagiri Stainless P. Ltd, Mumbai vs. ITO 5(3)(1), Mumbai

In the result, the appeals are partly allowed

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2010-11 & Assessment Year: 2011-12 M/S Ratnagiri Stainless Pvt. Ito 5(3)(1), Mumbai. Ltd., Office No. 8, 4Th Floor, Vs. 245/247, Alankar Cinema Building S V P Road, Mumbai-400004 Pan No. Aadcr2993P Appellant Respondent Assessee By : Mr. Vimal Punmiya, Ar Revenue By : Mrs. Jothilakshmi Nayak, Dr Date Of Hearing : 26/11/2019 Date Of Pronouncement: 16/12/2019

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held : “that the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank M/s Ratnagiri Stainless Pvt. entries of various nature to several beneficiaries including the assessee. The inf…

Hindustan Steel India, Mumbai vs. ITO 19 (1)(5), Mumbai

In the result, the appeal is partly allowed

Bench: Shri Ravish Sood () & Shri N.K. Pradhan () Assessment Year: 2011-12 M/S. Hindustan Steel India, Income Tax Officer 19(1)(5), Shop No.32/32A, Madhav Bhuvan, Vs. Matru Mandir, Tardeo, 2Nd Floor, 138/152, Nanubhai Desai Road, 4Th Mumbai-400007. Khetwadi Lane, Mumbai-400004. Pan No. Aacfh6648F Appellant Respondent Assessee By : Shri Surendra K. Chauhan, Ar Revenue By : Shri K. Bhoopathi, Dr Date Of Hearing : 13/11/2019 Date Of Pronouncement : 15/11/2019

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held: “That the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank accounts with a bank in Kolkata and who were involved in giving accommodation entries of various nature to sever…

Shree Bhavani Developer, Mumbai vs. ITO 21 (3)(3), Mumbai

In the result, the appeals for A

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held : “that the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank accounts with a bank in Kolkata and who were involved in giving accommodation entries of various nature to seve…

Shree Bhavani Developer, Mumbai vs. ITO 21 (3)(3), Mumbai

In the result, the appeals for A

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held : “that the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank accounts with a bank in Kolkata and who were involved in giving accommodation entries of various nature to seve…

Shree Bhavani Developer, Mumbai vs. ITO 21 (3)(3), Mumbai

In the result, the appeals for A

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held : “that the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank accounts with a bank in Kolkata and who were involved in giving accommodation entries of various nature to seve…

DCIT-4(3)(2), Mumbai vs. M/S.Setu Securities Private Limited, Mumbai

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Ravish Sood () & Shri N.K. Pradhan () Assessment Year: 2010-11

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held : “that the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank accounts with a bank in Kolkata and who were involved in giving accommodation entries of various nature to seve…

Yogesh M. Doshi, Mumbai vs. ACIT- 27 (3), Mumbai

In the result, the appeals are partly allowed

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2010-11 & Assessment Year: 2011-12 Yogesh M. Doshi, 7, Vanika Acit-27(3), Vashi, Navi Mumbai. Niwas Kama Lane, Vs. Ghatkopar (W), Mumbai- 400086. Pan No. Aahpd5571A Appellant Respondent Assessee By : Mr. Sashank Dundu, Ar Revenue By : Mr. Nitin Waghmode, Dr Date Of Hearing : 23/08/2019 Date Of Pronouncement : 28/08/2019

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held : “that the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank accounts with a bank in Kolkata and who were involved in giving accommodation entries of various nature to sever…

ITO 16(1)(5), Mumbai vs. Realstone Entertainment P.Ltd, Mumbai

Bench: Shri Pawan Singh () & Shri N.K. Pradhan () Assessment Year: 2009-10 Income Tax Officer- M/S Realstone 16(1)(5), Room No. Vs. Entertainment Pvt. Ltd. A- 439, 4Th Floor, Aayakar 601, Crystal Palace, Link Bhavan M.K. Road, Road, Malad (W), Mumbai- Mumbai-400020. 400064. Pan No. Aaccr8558F Appellant Respondent C.O. No. 201/Mum/2018 (Ita No. 1271/Mum/2017) Assessment Year: 2009-10 M/S Realstone Income Tax Officer- Entertainment Pvt. Ltd. C/O Vs. 16(1)(5), Room No. 439, Ajay Daga& Co. Cas, 401-A, 4Th Floor, Aayakarbhavan Pearl Arcade, Opp P K M.K. Road, Mumbai- Jewellers, Dawoodbaug 400020. Lane, Off J P Road, Andheri (W), Mumbai-400058. Pan No. Aaccr8558F Appellant Respondent Revenue By : Mr. Chaitanya Anjaria & Mr. Sachidanand Debe, Drs Assessee By : Mr. R.C. Jain, Ar Last Date Of Hearing : 03/05/2019 Date Of Pronouncement : 24/07/2019

…stinction between the acceptance of a return u/s 143(1) and an assessment which is framed u/s 143(3) of the Act. In the former case, the AO would have much wider latitude to reopen the assessment. In the case of Avirat Star Homes Venture P. Ltd. v. ITO (2019) 411 ITR 321 (Bom), the Hon’ble Bombay High Court referring to the above decision has held : “that the return had been accepted without scrutiny. The income-tax investigation had subsequently provided information about certain companies having bank accounts with a bank in Kolkata and who were involved in giving accommodation entries of various nature to sever…

Uni Design Jewellery India Private Limited, Mumbai vs. Deputy Commissioner of Income Tax - Central Circle 1(2), Mumbai

In the result , appeal of the assessee in ITA no

Bench: Shri Pawan Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1158 & 1159/Mum/2018 (नििाारण वर्ा / Assessment Year: 2011-12 & 2012-13) बिाम/ Uni Design Jewellery India Dcit-Central Circle 1(2) Private Ltd., Mumbai. Plot No. 3, V. Uni Design House, Cepz Wicel, Opp. Seepz Main Gate, Andheri(E), Mumbai-400093 स्थायी ऱेखा सं./ Pan: Aaacu3940J (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Rakesh Mohan Revenue By: Shri. Rejeev Gubgodra (Dr) सुनवाई की तारीख /Date Of Hearing : 03.04.2019 घोषणा की तारीख /Date Of Pronouncement : 30.05.2019 आदेश / O R D E R Per Ramit Kochar: These Two Appeals, Filed By Assessee, Being Ita No. 1158 & 1159/Mum/2018 For Assessment Year(S) 2011-12 & 2012- 13 Respectively, Are Directed Against Separate Appellate Order(S) Both Dated 18.12.2017 In Appeal Number(S) Cit(A)-47/Ap.11663/16-17 & Cit(A)-47/Ap.11664/16-17 Respectively, Passed By Learned Commissioner Of Income Tax (Appeals)-47, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2011-12 & 2012-13 Respectively, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Separate Assessment Order(S) Both Dated 31.10.2016 Passed By

…0 Reference is also drawn to decision of Hon’ble Bombay High Court wherein the reopening of the assessment u/s 147 was done based on information received from Investigation Wing in the case of Avirat Star Home Venture Private Limited v. ITO reported in (2019) 411 ITR 321(Bom.), wherein Hon’ble Bombay High Court upheld reopening of the assessment u/s 147, by holding as under: “9. With this background, in my mind we may revisit the reasons recorded by the Assessing Officer. In the reasons the Assessing Officer referred to the report of the investigation wing in which it was found that one company namely Finelink S…

Uni Design Jewellery India Private Limited, Mumbai vs. Deputy Commissioner of Income Tax - Central Circle 1(2), Mumbai

In the result , appeal of the assessee in ITA no

Bench: Shri Pawan Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1158 & 1159/Mum/2018 (नििाारण वर्ा / Assessment Year: 2011-12 & 2012-13) बिाम/ Uni Design Jewellery India Dcit-Central Circle 1(2) Private Ltd., Mumbai. Plot No. 3, V. Uni Design House, Cepz Wicel, Opp. Seepz Main Gate, Andheri(E), Mumbai-400093 स्थायी ऱेखा सं./ Pan: Aaacu3940J (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Rakesh Mohan Revenue By: Shri. Rejeev Gubgodra (Dr) सुनवाई की तारीख /Date Of Hearing : 03.04.2019 घोषणा की तारीख /Date Of Pronouncement : 30.05.2019 आदेश / O R D E R Per Ramit Kochar: These Two Appeals, Filed By Assessee, Being Ita No. 1158 & 1159/Mum/2018 For Assessment Year(S) 2011-12 & 2012- 13 Respectively, Are Directed Against Separate Appellate Order(S) Both Dated 18.12.2017 In Appeal Number(S) Cit(A)-47/Ap.11663/16-17 & Cit(A)-47/Ap.11664/16-17 Respectively, Passed By Learned Commissioner Of Income Tax (Appeals)-47, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2011-12 & 2012-13 Respectively, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Separate Assessment Order(S) Both Dated 31.10.2016 Passed By

…0 Reference is also drawn to decision of Hon’ble Bombay High Court wherein the reopening of the assessment u/s 147 was done based on information received from Investigation Wing in the case of Avirat Star Home Venture Private Limited v. ITO reported in (2019) 411 ITR 321(Bom.), wherein Hon’ble Bombay High Court upheld reopening of the assessment u/s 147, by holding as under: “9. With this background, in my mind we may revisit the reasons recorded by the Assessing Officer. In the reasons the Assessing Officer referred to the report of the investigation wing in which it was found that one company namely Finelink S…