BNB Investment & Properties Ltd. v. Dy. CIT

68 ITR 567High Court2018#11759 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2020 to 2023.

Judgments citing BNB Investment & Properties Ltd. v. Dy. CIT

ACIT Cent. Cir -7(1), Mumbai vs. Dr. D.Y.Patil Education Society, Mumbai

In the result, the appeal filed by the revenue is dismissed and appeal filed by the assessee as well as CO are allowed

ITA 2299/MUM/2021[2017-18]Status: DisposedITAT Mumbai29 Mar 2023AY 2017-18

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2298/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No. 2299/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) Acit, Cc-7(1) बिधम/ Dr. D. Y. Patil Education R. No. 676B, 6Th Floor, Society Vs. Aayakar Bhavan, M. K. 869, E, Ward, Kasaba Road, Mumbai-400020. Vawada, Kolhapur-416006. & आयकर अपील सं/ I.T.A. No. 1957/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) बिधम/ Dr. D. Y. Patil Education Dcit, Central Circle-7(1) 6Th Floor, Aayakar Bhavan, M. Society Vs. 869, E, Ward, Kasaba K. Road, Mumbai-400020. Vawada, Kolhapur-416006. Cross Objection No. 63/Mum/2022 Arising Out Of I.T.A. No.2298/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) बिधम/ Dr. D. Y. Patil Education Acit, Cc-7(1) R. No. 676B, 6Th Floor, Society Vs. 869, E, Ward, Kasaba Aayakar Bhavan, M. K. Road, Vawada, Kolhapur-416006. Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaatd8919M (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Smt. Riddhi Mishra (Dr)/Smt. Mahita Nair Assessee By: Shri Dharmesh Shah/Dhaval Shah सुनवाई की तारीख / Date Of Hearing: 19/01/2023 घोषणा की तारीख /Date Of Pronouncement: 29/03/2023

For Appellant: Shri Dharmesh Shah/Dhaval ShahFor Respondent: Smt. Riddhi Mishra (DR)/Smt
Section 132Section 143(3)Section 153C

…provisions of the law, the same is liable to be quashed since such assessment is palpably and patently illegal. 20. Similar view is noted to have been rendered by the Delhi, B- Bench of this Tribunal in the case of BNB Investment & Properties Ltd. v. Dy. CIT (68 ITR 567 (Trib)). In the decided case, Krissh Group was searched on 09.11.2011. The impounded documents belonging to the assessee was received by the AO on 29.08.2013 and the satisfaction note was recorded on 03.10.2013. Therefore, in terms of first proviso to Section 153C of the Act, the date of search was construed to be 29.08.2013 and therefore six prec…

ACIT CC -7(1), Mumbai vs. Dr. D.Y.Patil Education Society, Mumbai

In the result, the appeal filed by the revenue is dismissed and appeal filed by the assessee as well as CO are allowed

ITA 2298/MUM/2021[2016-17]Status: DisposedITAT Mumbai29 Mar 2023AY 2016-17

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2298/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No. 2299/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) Acit, Cc-7(1) बिधम/ Dr. D. Y. Patil Education R. No. 676B, 6Th Floor, Society Vs. Aayakar Bhavan, M. K. 869, E, Ward, Kasaba Road, Mumbai-400020. Vawada, Kolhapur-416006. & आयकर अपील सं/ I.T.A. No. 1957/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) बिधम/ Dr. D. Y. Patil Education Dcit, Central Circle-7(1) 6Th Floor, Aayakar Bhavan, M. Society Vs. 869, E, Ward, Kasaba K. Road, Mumbai-400020. Vawada, Kolhapur-416006. Cross Objection No. 63/Mum/2022 Arising Out Of I.T.A. No.2298/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) बिधम/ Dr. D. Y. Patil Education Acit, Cc-7(1) R. No. 676B, 6Th Floor, Society Vs. 869, E, Ward, Kasaba Aayakar Bhavan, M. K. Road, Vawada, Kolhapur-416006. Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaatd8919M (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Smt. Riddhi Mishra (Dr)/Smt. Mahita Nair Assessee By: Shri Dharmesh Shah/Dhaval Shah सुनवाई की तारीख / Date Of Hearing: 19/01/2023 घोषणा की तारीख /Date Of Pronouncement: 29/03/2023

For Appellant: Shri Dharmesh Shah/Dhaval ShahFor Respondent: Smt. Riddhi Mishra (DR)/Smt
Section 132Section 143(3)Section 153C

…provisions of the law, the same is liable to be quashed since such assessment is palpably and patently illegal. 20. Similar view is noted to have been rendered by the Delhi, B- Bench of this Tribunal in the case of BNB Investment & Properties Ltd. v. Dy. CIT (68 ITR 567 (Trib)). In the decided case, Krissh Group was searched on 09.11.2011. The impounded documents belonging to the assessee was received by the AO on 29.08.2013 and the satisfaction note was recorded on 03.10.2013. Therefore, in terms of first proviso to Section 153C of the Act, the date of search was construed to be 29.08.2013 and therefore six prec…

D.Y.Patil Education Society, Kolhapur vs. DCIT Cent. Cir 7(1), Mumbai

In the result, the appeal filed by the revenue is dismissed and appeal filed by the assessee as well as CO are allowed

ITA 1957/MUM/2021[2017-18]Status: DisposedITAT Mumbai29 Mar 2023AY 2017-18

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2298/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No. 2299/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) Acit, Cc-7(1) बिधम/ Dr. D. Y. Patil Education R. No. 676B, 6Th Floor, Society Vs. Aayakar Bhavan, M. K. 869, E, Ward, Kasaba Road, Mumbai-400020. Vawada, Kolhapur-416006. & आयकर अपील सं/ I.T.A. No. 1957/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) बिधम/ Dr. D. Y. Patil Education Dcit, Central Circle-7(1) 6Th Floor, Aayakar Bhavan, M. Society Vs. 869, E, Ward, Kasaba K. Road, Mumbai-400020. Vawada, Kolhapur-416006. Cross Objection No. 63/Mum/2022 Arising Out Of I.T.A. No.2298/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) बिधम/ Dr. D. Y. Patil Education Acit, Cc-7(1) R. No. 676B, 6Th Floor, Society Vs. 869, E, Ward, Kasaba Aayakar Bhavan, M. K. Road, Vawada, Kolhapur-416006. Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaatd8919M (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Smt. Riddhi Mishra (Dr)/Smt. Mahita Nair Assessee By: Shri Dharmesh Shah/Dhaval Shah सुनवाई की तारीख / Date Of Hearing: 19/01/2023 घोषणा की तारीख /Date Of Pronouncement: 29/03/2023

For Appellant: Shri Dharmesh Shah/Dhaval ShahFor Respondent: Smt. Riddhi Mishra (DR)/Smt
Section 132Section 143(3)Section 153C

…provisions of the law, the same is liable to be quashed since such assessment is palpably and patently illegal. 20. Similar view is noted to have been rendered by the Delhi, B- Bench of this Tribunal in the case of BNB Investment & Properties Ltd. v. Dy. CIT (68 ITR 567 (Trib)). In the decided case, Krissh Group was searched on 09.11.2011. The impounded documents belonging to the assessee was received by the AO on 29.08.2013 and the satisfaction note was recorded on 03.10.2013. Therefore, in terms of first proviso to Section 153C of the Act, the date of search was construed to be 29.08.2013 and therefore six prec…

Sanbtosh Hospital P.Ltd, Ghaziabad vs. ACIT, Central Circle-6, New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 282/DEL/2020[2014-15]Status: DisposedITAT Delhi03 Aug 2022AY 2014-15

Bench: Sh. T.S Kapoor & Sh. Chandra Mohan Gargassessment Year: 2014-15 Santosh Hospital P. Ltd. Acit No.1, Santosh Nagar, Vs Central Circle -6 Pratap Vihar, Ghaziabad New Delhi Pan No.Aabcs2244J (Appellant) (Respondent)

Section 139Section 143Section 153Section 153C

…der for A.Y. 2014-15, therefore, impugned order may kindly be quashed on these two counts. 10. The Ld. AR has also placed reliance on the judgment of jurisdictional High Courts of Delhi in the case M/s. BNB Investment & Properties Vs. DCIT & Ors. reported in 68 ITR 567 (Del.) following the judgment of Delhi High Court in the case of RRJ Securities Ltd. 380 ITR 612 (Delhi) and Pr. CIT Vs. Server Agency Pvt. Ltd. & Ors. 397 ITR 400 (Delhi). 11. Replying to the above the Ld. CIT DR submitted that satisfaction u/s.153 C is required for A.Y. 2008-09 to 2013-14 and not for the impugned A.Y.2014-15. Further, there is…

Vinod Kumar, New Delhi vs. DCIT, Gurgaon

In the result, appeal of Assessee allowed

ITA 2526/DEL/2017[2013-14]Status: DisposedITAT Delhi06 Apr 2021AY 2013-14

Bench: Shri Bhavnesh Saini & Shri N.K. Billaiya

For Appellant: Shri Prakash Chand YadavFor Respondent: Shri Prakash Dubey, Sr. D.R
Section 143(3)Section 153CSection 68

…ue is, therefore, covered in favour of the assessee and impugned assessment order is void abinitio. He has submitted that same issue is also considered by ITAT in this Order following the Order in the case of BNB Investment & Properties Ltd., vs., DCIT [2018] 68 ITR 567 [Delhi-Tribu.] vide Order Dated 27.06.2018. Similarly, the ITAT in the case of M/s. Ambawata Buildwell Pvt. Ltd., in ITA.No.2592/2015 vide Order Dated 23.08.2018 held that “year of search in these cases would be A.Y. 2014-2015 as the documents pertaining to assessee were received on 29.08.2013.” The Learned Counsel for the Assessee, therefore, sub…

ACIT, New Delhi vs. M/S. Mapsa Tapes Pvt. Ltd., New Delhi

In the result, ITA.No.504/Del

ITA 1217/DEL/2017[2009-10]Status: DisposedITAT Delhi21 Feb 2020AY 2009-10

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishiआ.अ.सं/.I.T.A Nos.1216 & 1217/Del/2017 िनधा"रणवष"/Assessment Years:2008-09 & 2009-10 बनाम Acit Mapsa Tapes Pvt. Ltd. 4Th Floor, Pp Tower, Central Circle-19, Vs. Room No. 104, 1St Floor, Plot No. C-1, C-2, C-3, Ara Centre, Netaji Subhash Place, Jhandewalan Extn. Pitampura, New Delhi. New Delhi.

Section 132Section 153ASection 153C

…I.T.A.Nos.1216 & 1217/Del/2017/A.Ys.2008-09 & 200-10 under appeal i.e. 2008-09 & 2009-10 would be beyond the period of six years. The same view is considered by ITAT Delhi ‘A’ Bench in the case of M/s BNB Investment & Properties Vs. DCIT & Ors. reported in 68 ITR 567 (Del.) following the judgment of Delhi High Court in the case of RRJ Securities Ltd. and Pr. CIT Vs. Server Agency Pvt. Ltd. & Ors. 397 ITR 400. The findings of the Tribunal are reproduced as under: IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “A” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER I…

ACIT, New Delhi vs. M/S. Mapsa Tapes Pvt. Ltd., New Delhi

In the result, ITA.No.504/Del

ITA 1216/DEL/2017[2008-09]Status: DisposedITAT Delhi21 Feb 2020AY 2008-09

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishiआ.अ.सं/.I.T.A Nos.1216 & 1217/Del/2017 िनधा"रणवष"/Assessment Years:2008-09 & 2009-10 बनाम Acit Mapsa Tapes Pvt. Ltd. 4Th Floor, Pp Tower, Central Circle-19, Vs. Room No. 104, 1St Floor, Plot No. C-1, C-2, C-3, Ara Centre, Netaji Subhash Place, Jhandewalan Extn. Pitampura, New Delhi. New Delhi.

Section 132Section 153ASection 153C

…I.T.A.Nos.1216 & 1217/Del/2017/A.Ys.2008-09 & 200-10 under appeal i.e. 2008-09 & 2009-10 would be beyond the period of six years. The same view is considered by ITAT Delhi ‘A’ Bench in the case of M/s BNB Investment & Properties Vs. DCIT & Ors. reported in 68 ITR 567 (Del.) following the judgment of Delhi High Court in the case of RRJ Securities Ltd. and Pr. CIT Vs. Server Agency Pvt. Ltd. & Ors. 397 ITR 400. The findings of the Tribunal are reproduced as under: IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “A” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER I…

ACIT, New Delhi vs. M/S. N.S. Software, New Delhi

In the result, ITA.No.504/Del

ITA 3161/DEL/2016[2010-11]Status: DisposedITAT Delhi05 Feb 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri R.K. Panda

For Appellant: Shri Sudesh Garg, AdvocateFor Respondent: Shri Sanjay Goel, CIT-D.R
Section 132Section 143(1)Section 143(3)Section 153CSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “A” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI R.K. PANDA, ACCOUNTANT MEMBER ITA.No.3161/Del./2016 Assessment Year 2010-2011 M/s. N.S. Software, The ACIT, 12, Ring Road, Lajpat Central Circle-7, Room Nagar-IV, New Delhi vs. No.330, ARA Centre, PIN 110024 Jhandewalan Extesnion, PAN AAEFN9135B New Delhi. (Appellant) (Respondent) For Revenue : Shri Sanjay Goel, CIT-D.R. Shri S.L. Anuragi, Sr. D.R. For Assessee : Shri Sudesh Garg, Advocate Date of Hearing : 04.02.2020 Date of Pronouncement : 05.02.2020 ORDER PER BHAVNESH SAINI, J.M. This appeal by R…

M/S Bina Fashions N Foods (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, ITA.No.504/Del

ITA 610/DEL/2016[2012-13]Status: DisposedITAT Delhi17 Jan 2020AY 2012-13

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: Ms. Sweety Kothari, C.AFor Respondent: Ms. Rakhi Vimal, Sr. DR
Section 143(3)Section 153ASection 153C

…ed by limitation. The contention of assessee was accepted by the Tribunal and appeal of assessee has been allowed. Learned Counsel for the Assessee also relied upon Order of ITAT, Delhi A-Bench in the case of M/s. BNB Investment and Properties Ltd., vs., DCIT 68 ITR 567 (Delhi-Tribunal). 5. On the other hand, Ld. D.R. relied upon the Orders of the authorities below and submitted that A.O. has correctly passed the order under section 143(3) of the I.T. Act, 1961. 6. We have considered the rival submissions. In A.Y. 2007-2008 assessee contended before the Tribunal that assessment is barred by limitation since the…

BNB Investment & Properties Ltd. v. Dy. CIT (68 ITR 567) — Cited in 9 Judgments | BharatTax