CIT v. Continental Warehousing Corporation (Nhava Sheva) Ltd.

374 ITR 645High Court2015#14 most cited

What is CIT v. Continental Warehousing Corporation (Nhava Sheva) Ltd. authority for?

In Section 153A proceedings, the scope of assessment extends to abated proceedings, enabling an assessee to raise fresh legal claims that could have been made in regular assessment proceedings.

1,823

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2015 to 2026.

Also referred to as

Continental Warehousing Corporation · Section 153A · scope of 153A assessment · abated proceedings · fresh claims in search assessment · assessee's claims 153A · Section 132 · assessment procedure · search and seizure assessment

Also reported as

58 Taxmann.com 78

Sections most often in play

Section 153ASection 132Section 143(3)Section 147Section 148Section 153CSection 68Section 69A

Issues it is cited on

casus omissussection 158b(b)section 158bb(1)section 153(a)section 153a(1)(b)section 158bbdeemed dividendsection 153(1)section 2(22)section 2(22)(e)section 153a(1)section 132a

Judgments citing CIT v. Continental Warehousing Corporation (Nhava Sheva) Ltd.

Smt. Priya Arora, Chandigarh vs. ACIT, CC-II, Chandigarh

In the result, the appeals of the Assessee are disposed off as under:-

ITA 155/CHANDI/2019[2011-12]Status: DisposedITAT Chandigarh09 Oct 2024AY 2011-12

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 153 To 155/Chd/2019 "नधा"रण वष" / Assessment Years : 2009-10, 2010-11 & 2011-12 Smt. Priya Arora, Vs. The Acit, बनाम Central Circle-Ii, 1136, Ist Floor, Chandigarh Sector 8-C, Chandigarh "थायी लेखा सं./Pan No: Ackpa6762B अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hering ) "नधा"रती क" ओर से/Assessee By : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit, Dr सुनवाई क" तार"ख/Date Of Hearing : 25.09.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.10.2024 आदेश/Order Per Bench:

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 2Section 2(22)(e)

…roceeding under section 153A(1) which was not claimed in his regular return of income, thus, impugned order of AO rejecting such claim of assessee was unjustified CIT v Continental Warehousing Corpn. (Nhava Sheva) Ltd., [2015] 58 taxmann.com 78/232 Taxman 270/374 ITR 645 (Bom.) CIT v Continental Warehousing Corpn. (Nhava Sheva) Ltd., [2015] 58 taxmann.com 78/232 Taxman 270/374 ITR 645 (Bom.) (para 6.5) and Dy. CIT v Eversmile Construction Co.(P.) Ltd [2012] 65 DTR 39 (Mum.-Trib) (Para 6.5) 153 to155-Chd-2019 Puja Arora, Chandigarh 11 26 The ld. DR relied on the order of the CIT(A) on this issue. 27 We have con…

Smt. Priya Arora, Chandigarh vs. ACIT, CC-II, Chandigarh

In the result, the appeals of the Assessee are disposed off as under:-

ITA 154/CHANDI/2019[2010-11]Status: DisposedITAT Chandigarh09 Oct 2024AY 2010-11

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 153 To 155/Chd/2019 "नधा"रण वष" / Assessment Years : 2009-10, 2010-11 & 2011-12 Smt. Priya Arora, Vs. The Acit, बनाम Central Circle-Ii, 1136, Ist Floor, Chandigarh Sector 8-C, Chandigarh "थायी लेखा सं./Pan No: Ackpa6762B अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hering ) "नधा"रती क" ओर से/Assessee By : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit, Dr सुनवाई क" तार"ख/Date Of Hearing : 25.09.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.10.2024 आदेश/Order Per Bench:

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 2Section 2(22)(e)

…roceeding under section 153A(1) which was not claimed in his regular return of income, thus, impugned order of AO rejecting such claim of assessee was unjustified CIT v Continental Warehousing Corpn. (Nhava Sheva) Ltd., [2015] 58 taxmann.com 78/232 Taxman 270/374 ITR 645 (Bom.) CIT v Continental Warehousing Corpn. (Nhava Sheva) Ltd., [2015] 58 taxmann.com 78/232 Taxman 270/374 ITR 645 (Bom.) (para 6.5) and Dy. CIT v Eversmile Construction Co.(P.) Ltd [2012] 65 DTR 39 (Mum.-Trib) (Para 6.5) 153 to155-Chd-2019 Puja Arora, Chandigarh 11 26 The ld. DR relied on the order of the CIT(A) on this issue. 27 We have con…

Smt. Priya Arora, Chandigarh vs. ACIT, CC-II, Chandigarh

In the result, the appeals of the Assessee are disposed off as under:-

ITA 153/CHANDI/2019[2009-10]Status: DisposedITAT Chandigarh09 Oct 2024AY 2009-10

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 153 To 155/Chd/2019 "नधा"रण वष" / Assessment Years : 2009-10, 2010-11 & 2011-12 Smt. Priya Arora, Vs. The Acit, बनाम Central Circle-Ii, 1136, Ist Floor, Chandigarh Sector 8-C, Chandigarh "थायी लेखा सं./Pan No: Ackpa6762B अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hering ) "नधा"रती क" ओर से/Assessee By : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit, Dr सुनवाई क" तार"ख/Date Of Hearing : 25.09.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.10.2024 आदेश/Order Per Bench:

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 2Section 2(22)(e)

…roceeding under section 153A(1) which was not claimed in his regular return of income, thus, impugned order of AO rejecting such claim of assessee was unjustified CIT v Continental Warehousing Corpn. (Nhava Sheva) Ltd., [2015] 58 taxmann.com 78/232 Taxman 270/374 ITR 645 (Bom.) CIT v Continental Warehousing Corpn. (Nhava Sheva) Ltd., [2015] 58 taxmann.com 78/232 Taxman 270/374 ITR 645 (Bom.) (para 6.5) and Dy. CIT v Eversmile Construction Co.(P.) Ltd [2012] 65 DTR 39 (Mum.-Trib) (Para 6.5) 153 to155-Chd-2019 Puja Arora, Chandigarh 11 26 The ld. DR relied on the order of the CIT(A) on this issue. 27 We have con…

Shashi Agarwal, Lucknow vs. DCIT-1, Lucknow

In the result, these two appeals are treated as allowed for statistical purposes

ITA 199/LKW/2023[2016-17]Status: DisposedITAT Lucknow07 Oct 2024AY 2016-17

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 132Section 144Section 153ASection 68Section 69Section 69C

…I.T.A. No.198 & 199/Lkw/2023 Assessment Year:2015-16 & 16-17 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘B’, LUCKNOW BEFORE SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER AND SHRI SUBHASH MALGURIA, JUDICIAL MEMBER I.T.A. No.198 & 199/Lkw/2023 Assessment Year:2015-16 & 16-17 Smt. Shashi Agarwal, Vs. Dy.C.I.T., 5th Floor, Tuba Palace, Central Circle-1, 15, Madan Mohan Malviya Marg, Lucknow. Lucknow. PAN:ACUPA3714B (Appellant) (Respondent) Appellant by Shri Akshay Agrawal, Advocate Respondent by Shri Manu Chaurasia, CIT (D.R.) O R D E R PER ANADEE NATH MISSHRA:A.M. (A) These two appeals have been fil…

Shashi Agarwal, Lucknow vs. DCIT, Central Circle-1, Lucknow

In the result, these two appeals are treated as allowed for statistical purposes

ITA 198/LKW/2023[2015-16]Status: DisposedITAT Lucknow07 Oct 2024AY 2015-16

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 132Section 144Section 153ASection 68Section 69Section 69C

…I.T.A. No.198 & 199/Lkw/2023 Assessment Year:2015-16 & 16-17 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘B’, LUCKNOW BEFORE SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER AND SHRI SUBHASH MALGURIA, JUDICIAL MEMBER I.T.A. No.198 & 199/Lkw/2023 Assessment Year:2015-16 & 16-17 Smt. Shashi Agarwal, Vs. Dy.C.I.T., 5th Floor, Tuba Palace, Central Circle-1, 15, Madan Mohan Malviya Marg, Lucknow. Lucknow. PAN:ACUPA3714B (Appellant) (Respondent) Appellant by Shri Akshay Agrawal, Advocate Respondent by Shri Manu Chaurasia, CIT (D.R.) O R D E R PER ANADEE NATH MISSHRA:A.M. (A) These two appeals have been fil…

Principal Commissioner of Income Tax 1 Kolkata vs. Bothra Shipping Services Pvt Ltd

In the result, the appeals are dismissed and the substantial

ITAT/85/2024HC Calcutta25 Sept 2024

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 80I

…onsortium of such companies or by an authority or a board or a corporation or any other body established or constituted under any Central or State Act, it has entered into an agreement 14 (2015) 374 ITR 645 (Bom) ITAT NOS. 85 OF 2024 AND 86 OF 2024 REPORTABLE Page 11 of 21 with the Central Government or a local authority or any other statutory body for developing or operating and maintaining or developing, operating and maintaining a new infrastructure facility and it has started or starts operating and maintaining the…

Principal Commissioner of Income Tax 1 Kolkata vs. Bothra Shipping Services Pvt Ltd

In the result, the appeals are dismissed and the substantial

ITAT/86/2024HC Calcutta25 Sept 2024

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 80I

…onsortium of such companies or by an authority or a board or a corporation or any other body established or constituted under any Central or State Act, it has entered into an agreement 14 (2015) 374 ITR 645 (Bom) ITAT NOS. 85 OF 2024 AND 86 OF 2024 REPORTABLE Page 11 of 21 with the Central Government or a local authority or any other statutory body for developing or operating and maintaining or developing, operating and maintaining a new infrastructure facility and it has started or starts operating and maintaining the…

Deputy Commissioner of Income Tax, Aurangabad vs. Marsh Fincom Pvt. Ltd., Mumbai

In the result, the appeal filed by the Revenue stands dismissed

ITA 1342/PUN/2023[2010-11]Status: DisposedITAT Pune13 Aug 2024AY 2010-11

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1342/Pun/2023 िनधा"रण वष" / Assessment Year: 2010-11 Dcit, Aurangabad. Vs. Marsh Fincom Pvt. Ltd., 9Th Floor, Gold Crest, Ns Road No.10, Jvpd Scheme, Vile Parle (W), Mumbai- 400049. Pan : Aabck0760B Appellant Respondent Assessee By : Shri Deepak Shah Revenue By : Shri Sourabh Nayak Date Of Hearing : 26.06.2024 Date Of Pronouncement : 13.08.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Dated 07.09.2023 Passed By Ld Cit(A)-12, Pune For The Assessment Year 2010-11. 2. The Revenue Has Raised The Following Grounds Of Appeal :- “1. Whether On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Law & In Facts By Quashing Proceedings U/S. 153A In Respect Of Assessee Where The Assessee’S Case Was Covered Under Section 132 Of The Act Dated 20.08.2014. 2. Whether On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Holding That The Ao Has Made

For Appellant: Shri Deepak ShahFor Respondent: Shri Sourabh Nayak
Section 132Section 132(4)Section 143(3)Section 153ASection 68

…that on the date of search, the assessment for the year under appeal was not pending. Therefore, the original assessment has not abated. In respect of unabated assessment, the jurisdictional high court in the case of Continental Warehousing Corporation ltd. (374 ITR 645) has held that such unabated assessment can be framed u/s 153A only on the basis of material found from the assessee during search at his premises. He cannot touch any issue other than for which material is found from the assessee during search. The Hon’ble court held that- 7 “(10) Thus on a plain reading of Section 153A of the Income- tax Act,…

Arvindkumar Amulkh Tanna, Ahmedabad vs. The ACIT, Central Circle-2 (3), Ahmeadabad

ITA 577/AHD/2020[2015-16]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2015-16

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 132Section 143(1)Section 143(3)Section 153A

…tements. The Ld. AR placed reliance on the decision of the Hon’ble Gujarat High Court in PCIT vs. Saumya Construction Pvt. Ltd. 387 ITR 529, CIT vs. Kabul Chawla 380 ITR 573 (Delhi High Court) and CIT vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. 374 ITR 645 (Bombay High Court) before the Ld.CIT(A). 6.1. During the course of hearing before us, the Ld.AR placed reliance on the decision of Co-ordinate Bench in case of ACIT, Central Circle-2(3), Ahmedabad Vs M/s. Affluence Commodities Pvt. Ltd. IT(SS)A No.55 to IT(ss)A Nos.2/Ahd/2021 to 7/Ahd/2021 (by Revenue) IT(ss)A No.66/Ahd/2020 & ITA No.577/Ahd/20…

Ashok Shah, Muzaffarnagar vs. DCIT, Central Circle, Meerut

In the result, the ITA No

ITA 6493/DEL/2019[2014-15]Status: DisposedITAT Delhi08 Jul 2024AY 2014-15

Bench: Shri Shamim Yahya & Shri Sudhir Pareek

For Appellant: Shri Satish Agarwal, CA & MsFor Respondent: Mr. Binod Kumar, CIT(DR)
Section 132Section 142(1)Section 143(2)Section 143ASection 153ASection 69A

…Assessee placed reliance on the following cases laws in the proceedings before the Ld. CIT(A). 4 i) CIT vs. Kabul Chawla (2016) 380 ITR 573 (20151 234 Taxman 300/61 taxmann.com 412 (Delhi). ii) CIT vs. Continental Warehousing Corpn. (Nhava Sheva) Ltd. (2015) 374 ITR 645/232 Taxman 270/58 taxmann.com 78 (Mob). iii) All Cargo Global Logistics ltd. vs. Dy. CIT (2012) 137 ITR 287 (SB) (Mumb.) (Tri). iv) Kusum Gupta vs. DCIT – ITA No. 4873/Del/2009, etc. 6. However, Ld. CIT(A) was not convinced with the Assesssee’s contention and dismissed the Grounds of Appeal by holding as under:- “…5.2 Undersigned has carefully c…

Ashok Shah, Muzaffarnagar vs. DCIT, Central Circle, Meerut

In the result, the ITA No

ITA 6492/DEL/2019[2013-14]Status: DisposedITAT Delhi08 Jul 2024AY 2013-14

Bench: Shri Shamim Yahya & Shri Sudhir Pareek

For Appellant: Shri Satish Agarwal, CA & MsFor Respondent: Mr. Binod Kumar, CIT(DR)
Section 132Section 142(1)Section 143(2)Section 143ASection 153ASection 69A

…Assessee placed reliance on the following cases laws in the proceedings before the Ld. CIT(A). 4 i) CIT vs. Kabul Chawla (2016) 380 ITR 573 (20151 234 Taxman 300/61 taxmann.com 412 (Delhi). ii) CIT vs. Continental Warehousing Corpn. (Nhava Sheva) Ltd. (2015) 374 ITR 645/232 Taxman 270/58 taxmann.com 78 (Mob). iii) All Cargo Global Logistics ltd. vs. Dy. CIT (2012) 137 ITR 287 (SB) (Mumb.) (Tri). iv) Kusum Gupta vs. DCIT – ITA No. 4873/Del/2009, etc. 6. However, Ld. CIT(A) was not convinced with the Assesssee’s contention and dismissed the Grounds of Appeal by holding as under:- “…5.2 Undersigned has carefully c…

Ashok Shah, Muzaffarnagar vs. DCIT, Central Circle, Meerut

In the result, the ITA No

ITA 6491/DEL/2019[2012-13]Status: DisposedITAT Delhi08 Jul 2024AY 2012-13

Bench: Shri Shamim Yahya & Shri Sudhir Pareek

For Appellant: Shri Satish Agarwal, CA & MsFor Respondent: Mr. Binod Kumar, CIT(DR)
Section 132Section 142(1)Section 143(2)Section 143ASection 153ASection 69A

…Assessee placed reliance on the following cases laws in the proceedings before the Ld. CIT(A). 4 i) CIT vs. Kabul Chawla (2016) 380 ITR 573 (20151 234 Taxman 300/61 taxmann.com 412 (Delhi). ii) CIT vs. Continental Warehousing Corpn. (Nhava Sheva) Ltd. (2015) 374 ITR 645/232 Taxman 270/58 taxmann.com 78 (Mob). iii) All Cargo Global Logistics ltd. vs. Dy. CIT (2012) 137 ITR 287 (SB) (Mumb.) (Tri). iv) Kusum Gupta vs. DCIT – ITA No. 4873/Del/2009, etc. 6. However, Ld. CIT(A) was not convinced with the Assesssee’s contention and dismissed the Grounds of Appeal by holding as under:- “…5.2 Undersigned has carefully c…

Ashok Shah, Muzaffarnagar vs. DCIT, Central Circle, Meerut

In the result, the ITA No

ITA 6490/DEL/2019[2011-12]Status: DisposedITAT Delhi08 Jul 2024AY 2011-12

Bench: Shri Shamim Yahya & Shri Sudhir Pareek

For Appellant: Shri Satish Agarwal, CA & MsFor Respondent: Mr. Binod Kumar, CIT(DR)
Section 132Section 142(1)Section 143(2)Section 143ASection 153ASection 69A

…Assessee placed reliance on the following cases laws in the proceedings before the Ld. CIT(A). 4 i) CIT vs. Kabul Chawla (2016) 380 ITR 573 (20151 234 Taxman 300/61 taxmann.com 412 (Delhi). ii) CIT vs. Continental Warehousing Corpn. (Nhava Sheva) Ltd. (2015) 374 ITR 645/232 Taxman 270/58 taxmann.com 78 (Mob). iii) All Cargo Global Logistics ltd. vs. Dy. CIT (2012) 137 ITR 287 (SB) (Mumb.) (Tri). iv) Kusum Gupta vs. DCIT – ITA No. 4873/Del/2009, etc. 6. However, Ld. CIT(A) was not convinced with the Assesssee’s contention and dismissed the Grounds of Appeal by holding as under:- “…5.2 Undersigned has carefully c…

DCIT, CC-31, New Delhi vs. Enn Vee Holdings Pvt. Ltd., New Delhi

ITA 1841/DEL/2021[2015-16]Status: DisposedITAT Delhi05 Jul 2024AY 2015-16

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

For Appellant: Sh. Neeraj Jain, Adv. &For Respondent: Ms. Sapna Bhatia, CIT-DR
Section 132(4)

…can be framed under section 153A of the Act in the absence of incriminating material and hence this issue is squarely covered by the decision of the Hon’ble Bombay High Court in the case of CIT vs. Continental Warehousing Corporation (NhavaSheva) Ltd. (2015) 374 ITR 645 (Bom). iv) M/s. Brahmaputra Finlease (P) Ltd., vs. DCIT, ITA No. 3332/Del/2017, 29.12.2017, ITAT-Delhi. (Sh. OP Kant & Sh. K.N. Cherry) 4.3 As regard to second condition related to incriminating material, the Ld. counsel referred to the impugned assessment order and submitted that there is no reference of any incriminating material in the asses…

DCIT, CC-31, New Delhi vs. Enn Vee Holdings Pvt. Ltd., New Delhi

ITA 1840/DEL/2021[2014-15]Status: DisposedITAT Delhi05 Jul 2024AY 2014-15

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

For Appellant: Sh. Neeraj Jain, Adv. &For Respondent: Ms. Sapna Bhatia, CIT-DR
Section 132(4)

…can be framed under section 153A of the Act in the absence of incriminating material and hence this issue is squarely covered by the decision of the Hon’ble Bombay High Court in the case of CIT vs. Continental Warehousing Corporation (NhavaSheva) Ltd. (2015) 374 ITR 645 (Bom). iv) M/s. Brahmaputra Finlease (P) Ltd., vs. DCIT, ITA No. 3332/Del/2017, 29.12.2017, ITAT-Delhi. (Sh. OP Kant & Sh. K.N. Cherry) 4.3 As regard to second condition related to incriminating material, the Ld. counsel referred to the impugned assessment order and submitted that there is no reference of any incriminating material in the asses…

DCIT, CC-31, New Delhi vs. Realtime Marketing Pvt. Ltd., Delhi

ITA 1838/DEL/2021[2014-15]Status: DisposedITAT Delhi05 Jul 2024AY 2014-15

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

For Appellant: Sh. Neeraj Jain, Adv. &For Respondent: Ms. Sapna Bhatia, CIT-DR
Section 132(4)

…can be framed under section 153A of the Act in the absence of incriminating material and hence this issue is squarely covered by the decision of the Hon’ble Bombay High Court in the case of CIT vs. Continental Warehousing Corporation (NhavaSheva) Ltd. (2015) 374 ITR 645 (Bom). iv) M/s. Brahmaputra Finlease (P) Ltd., vs. DCIT, ITA No. 3332/Del/2017, 29.12.2017, ITAT-Delhi. (Sh. OP Kant & Sh. K.N. Cherry) 4.3 As regard to second condition related to incriminating material, the Ld. counsel referred to the impugned assessment order and submitted that there is no reference of any incriminating material in the asses…

DCIT- CC-31, New Delhi vs. Realtime Marketing Pvt. Ltd., Delhi

ITA 1837/DEL/2021[2012-13]Status: DisposedITAT Delhi05 Jul 2024AY 2012-13

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

For Appellant: Sh. Neeraj Jain, Adv. &For Respondent: Ms. Sapna Bhatia, CIT-DR
Section 132(4)

…can be framed under section 153A of the Act in the absence of incriminating material and hence this issue is squarely covered by the decision of the Hon’ble Bombay High Court in the case of CIT vs. Continental Warehousing Corporation (NhavaSheva) Ltd. (2015) 374 ITR 645 (Bom). iv) M/s. Brahmaputra Finlease (P) Ltd., vs. DCIT, ITA No. 3332/Del/2017, 29.12.2017, ITAT-Delhi. (Sh. OP Kant & Sh. K.N. Cherry) 4.3 As regard to second condition related to incriminating material, the Ld. counsel referred to the impugned assessment order and submitted that there is no reference of any incriminating material in the asses…

Naresh Manakchand Jain, Mumbai vs. ACIT 2(1), Mumbai

In the result, the appeals of the assessee are partly allowed

ITA 247/MUM/2023[2011-12]Status: DisposedITAT Mumbai27 Jun 2024AY 2011-12

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale

For Appellant: Shri Sucheck Anchaliya &For Respondent: Shri S. Srinivasu, CIT-DR
Section 132Section 144Section 153ASection 69C

…44 /Mum/2023 AYs 2011-12 & 13-14 to 17-18 5 Naresh Manakchand Jain v. Asst. CIT addition could have been made only with the aid of incriminating material as held by the Hon’ble Mumbai High Court in the case of CIT V. Continental Warehousing Corporation [2015] 374 ITR 645] which has been upheld by the Hon’ble Supreme Court in PCIT v. Abhisar Buildwell (P) Ltd. [2023] 454 ITR 212 (SC). Therefore, he submitted that in absence of any incriminating material, the addition made by the AO cannot be sustained. 6. On the contrary, the ld. D.R. relied on the orders of the lower authorities. 7. We have heard rival submissi…

Naresh Manakchand Jain, Mumbai vs. ACIT 2(1), Mumbai

In the result, the appeals of the assessee are partly allowed

ITA 244/MUM/2023[2017-2018]Status: DisposedITAT Mumbai27 Jun 2024AY 2017-2018

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale

For Appellant: Shri Sucheck Anchaliya &For Respondent: Shri S. Srinivasu, CIT-DR
Section 132Section 144Section 153ASection 69C

…44 /Mum/2023 AYs 2011-12 & 13-14 to 17-18 5 Naresh Manakchand Jain v. Asst. CIT addition could have been made only with the aid of incriminating material as held by the Hon’ble Mumbai High Court in the case of CIT V. Continental Warehousing Corporation [2015] 374 ITR 645] which has been upheld by the Hon’ble Supreme Court in PCIT v. Abhisar Buildwell (P) Ltd. [2023] 454 ITR 212 (SC). Therefore, he submitted that in absence of any incriminating material, the addition made by the AO cannot be sustained. 6. On the contrary, the ld. D.R. relied on the orders of the lower authorities. 7. We have heard rival submissi…

Naresh Manakchand Jain, Mumbai vs. ACIT 2(1), Mumbai

In the result, the appeals of the assessee are partly allowed

ITA 243/MUM/2023[2016-2017]Status: DisposedITAT Mumbai27 Jun 2024AY 2016-2017

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale

For Appellant: Shri Sucheck Anchaliya &For Respondent: Shri S. Srinivasu, CIT-DR
Section 132Section 144Section 153ASection 69C

…44 /Mum/2023 AYs 2011-12 & 13-14 to 17-18 5 Naresh Manakchand Jain v. Asst. CIT addition could have been made only with the aid of incriminating material as held by the Hon’ble Mumbai High Court in the case of CIT V. Continental Warehousing Corporation [2015] 374 ITR 645] which has been upheld by the Hon’ble Supreme Court in PCIT v. Abhisar Buildwell (P) Ltd. [2023] 454 ITR 212 (SC). Therefore, he submitted that in absence of any incriminating material, the addition made by the AO cannot be sustained. 6. On the contrary, the ld. D.R. relied on the orders of the lower authorities. 7. We have heard rival submissi…