CIT v. Chandni Bhuchar

KIRAN ASHOK DESAI,MUMBAI vs. THE PCIT MUMBAI-19, MUMBAI

In the result, Ground raised by the assessee is allowed and order passed by the Ld

Bench: Shri Amit Shukla & Shri Gagan Goyalkiran Ashok Desai, D-3, Triveni Building, 66 Walkeshwar Road, Maharashtra 400 066 Pan: Aabpd6275H ..... Appellant Vs. Pcit R. No. 617, 6Th Floor, Piramal Chamber, Lal Baug, Parel, Mumbai- 400 012 ..... Respondent

…vanath Infra v. ACIT [2021] 123 taxmann.com 252 (Mumbai - Trib.) Maria Fernandes Cheryl v. Income Tax Officer, (International Taxation) 10. We further rely upon the ruling of Hon’ble Punjab and Haryana High Court in the case of CIT vs. Chandani Bhuchar [2010] 323 ITR 510/191 Taxman 142 (Punjab & Haryana) for the preposition that “The valuation done by any State Agency for the purpose of stamp duty would not ipso facto substitute the actual sale consideration as being passed on to the seller by the purchaser in the absence of any admissible evidence. The Assessing Officer is obliged to bring on record positive evi…

DY. COMMISSIONER OF INCOME TAX, CC-4(2), CENTRAL RANGE-4, MUMBAI vs. M/S NEEV INFRASTRUCTURE PVT LTD, MUMBAI

Bench: Shri Aby T Varkey & Shri Gagan Goyal

…vanath Infra v. ACIT [2021] 123 taxmann.com 252 (Mumbai - Trib.) Maria Fernandes Cheryl v. Income Tax Officer, (International Taxation) 20. We further rely upon the ruling of Hon’ble Punjab and Haryana High Court in the case of CIT vs. Chandani Bhuchar [2010] 323 ITR 510/191 Taxman 142 (Punjab & Haryana) for the preposition that “The valuation done by any State Agency for the purpose of stamp duty would not ipso facto substitute the actual sale consideration as being passed on to the seller by the purchaser in the absence of any admissible evidence. The Assessing Officer is obliged to bring on record positive evi…

M/S. RAVI DEVELOPMENTS,MUMBAI vs. DCIT CENTRAL CIRCLE -2, MUMBAI

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Vikas Awasthy & Shri Gagan Goyalm/S. Ravi Developments 76, Laxmi Palace, Mathuradas Road, Kandivali (West) Mumbai-400 067 Pan: Aaafr2516G ...... Appellant Vs. Acit Cc – 2, Ashar It Park, 6Th Floor, Road No. 16Z, Wagle Industrial Estate, Thane Thane- 400 064 ..... Respondent

…rnational Taxation) 8. As far as balance transactions of Table-2 at Page No.6 of the assessment order at serial no. 1, 2, 3, 5, and 6 are concerned we rely upon the ruling of Hon’ble Punjab and Haryana High Court in the case of CIT vs. Chandani Bhuchar [2010] 323 ITR 510/191 Taxman 142 (Punjab & Haryana) for the preposition that “The valuation done by any State Agency for the purpose of stamp duty would not ipso facto substitute the actual sale consideration as being passed on to the seller by the purchaser in the absence of any admissible evidence. The Assessing Officer is obliged to bring on record positive evi…

INTERNATIONAL SHIPS STORES SUPPLIERES,MUMBAI vs. JCIT RG 13(2), MUMBAI

In the result appeal of the assessee is dismissed

Bench: Shri G.S. Pannu() & Shri Ravish Sood () Assessment Year: 2009-10 International Ships Stores Suppliers Vs. Jcit, Range 13(2) 101, Navratan, 69 P.D. Mello Road Mumbai 1St Floor, Carnac Bunder, Mumbai Pan No. Aaafi0135Q (Appellant) (Respondent) Revenue By : Mr. Deepak Traslhawala Assessee By : Mr. Javed Akhtar Date Of Hearing : 25/07/2016 Date Of Pronouncement : 28/10/2016

…ansaction is established, then the onus cast on the assessee stands discharged and no adverse inference as regards such transactions can be drawn, relied on the judgment of the Hon‟ble Punjab & Haryana High Court in the case of: CIT Vs. Chandni Bhuchar (2010) 323 ITR 510 (P&H), and submitted that now when in the present case the genuineness of the purchase transactions had been established and accepted by the lower authorities, therefore no disallowance u/s 40A(3) w.r.t such purchases was liable to be made. 6. That on the other hand the Ld. Departmental representative (for short „D.R‟) heavily relied on the orde…

R.G. BULCHANDANI,MUMBAI vs. ITO 1(3)(1), MUMBAI

In the result, the appeal filed by the assessee in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 1180/Mum/2013 ("नधा"रण वष" / Assessment Year : 2009-10) Shri R.G. Bulchandani, Income Tax Officer – बनाम/ A/21, Darshan Apartments, 1(3)(1) V. Mount Pleasant Road, Mumbai. Mumbai – 400006. "थायी लेखा सं./Pan : Aadpb0862E .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

…is a forest land with low commercial value and the same was not considered by the DVO in right perspective. .The ld counsel for the assessee relied upon decision of Hon’ble Punjab and Haryana High Court in the case of CIT v. Chandni Bhochar reported in (2010) 323 ITR 510(P&H HC) to contend that the value adopted by stamp duty authorities if it is in excess of actual sale consideration also cannot be accepted unless there is positive evidence brought by AO supporting the price adopted by the State Government for the purposes of stamp duty and that the tax-payer has paid anything more than actual consideration as d…

ACIT 21(1), MUMBAI vs. NIRMAL B THAKKAR, MUMBAI

In the result, the appeals filed by the revenue are dismissed

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आमकय अऩीर सं./I.T.A. No.4135/Mum/2010 (ननधधायण वषा / Assessment Year:2007-08) The Asstt. Commissioner Of बनाम/ M/S Dayal Bapulal Thakkar (Huf), Income Tax 25(2), A-10, Charan Saran, Vile Parle Vs. (Erstwhile Acit-21(1), ) Model Town Co-Op Hsc, Room No.711, C-12, 7Th Floor, Gulmohar X Road No.7, Juhu, Pratyaksha Kar Bhavan, Mumbai-400049 Bandra Kurla Complex, Bandra (E), Mumbai-400051 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

…hat passed between the parties is a question of fact to be determined in each case, having regard to the facts and circumstances of that case.” Identical view has been expressed by the Hon‟ble Punjab & Haryana High Court in the case of CIT Vs. Chandni Buchar (323 ITR 510). 14. A perusal of the report given by the approved valuer would show that the valuer has stated that the land is located in residential cum commercial zone and all the facilities/civic amenities like schools, hospitals, offices, markets, cinemas etc. are available in the vicinity. The valuer has also pointed out that the plot is having good fron…

ACIT 21(1), MUMBAI vs. DAYAL BAPULAL THAKKER, MUMBAI

In the result, the appeals filed by the revenue are dismissed

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आमकय अऩीर सं./I.T.A. No.4135/Mum/2010 (ननधधायण वषा / Assessment Year:2007-08) The Asstt. Commissioner Of बनाम/ M/S Dayal Bapulal Thakkar (Huf), Income Tax 25(2), A-10, Charan Saran, Vile Parle Vs. (Erstwhile Acit-21(1), ) Model Town Co-Op Hsc, Room No.711, C-12, 7Th Floor, Gulmohar X Road No.7, Juhu, Pratyaksha Kar Bhavan, Mumbai-400049 Bandra Kurla Complex, Bandra (E), Mumbai-400051 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

…hat passed between the parties is a question of fact to be determined in each case, having regard to the facts and circumstances of that case.” Identical view has been expressed by the Hon‟ble Punjab & Haryana High Court in the case of CIT Vs. Chandni Buchar (323 ITR 510). 14. A perusal of the report given by the approved valuer would show that the valuer has stated that the land is located in residential cum commercial zone and all the facilities/civic amenities like schools, hospitals, offices, markets, cinemas etc. are available in the vicinity. The valuer has also pointed out that the plot is having good fron…