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

Asst CIT CC 24 & 26 Cen RG 5, Mumbai vs. Samir Narain Bhojwani, Mumbai

In the result, all the four appeals of Revenue are dismissed and the three Cross Objections of the assessee are dismissed as infructuous

Bench: Sri Mahavir Singh, Jm & Sri Ashwani Taneja, Am

…earned DR also conceded to the position. We find that this issue now stands covered in favour of assessee and against the Revenue by the decision of Hon’ble Bombay High Court in the case of CIT vs Continental Warehousing Corporation (Nhava Sheval) Ltd. (2015) 374 ITR 645 (Bombay), wherein also considering the judgment of the Special Bench of the Mumbai Tribunal in the case of All Cargo Global Logistics 137 ITD 287(SB) (Mum), considered the issue that, whether there is scope of assessment u/s. 153A of the Act in respect to completed assessment which is limited only to undisclosed income and undisclosed assets foun…

Cineyug, Mumbai vs. Asst CIT Cen RG 15 & 16, Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri B.R.Baskaran & Shri Pawan Singh

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “C”, MUMBAI BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No.1224/Mum/2016 for A Y : 2004-05 M/s Cineyug, ACIT-Central Range,15 & 16, Ground Floor , Eldora Air India Building, Apartments, Juhu Church Road, Vs Nariman Point , Juhu, Mumbai -400049 Mumbai-400021. PAN: AAAFC7001P (Appellant) (Respondent) Assessee by Sh. Vipul Joshi (AR) Revenue by : Sh. Subhachan Ram (DR) Date of hearing : 15.11.2016 Date of Pronouncement : 09.12.2016 Order under section 254(1) of Income Tax Act PER PAWAN SINGH JUDICIAL MEMBER; 1. This appeal by…

ACIT CC 24 & 26 Cen RG 5, Mumbai vs. Samir Narain Bhojwani, Mumbai

In the result, the appeal of the Revenue and the Cross Objection of the assessee, both are dismissed

Bench: Sri Mahavir Singh, Jm & Sri Ashwani Taneja, Am Dy. Commissioner Of Income Tax, Shri Samir Narain Bhojani 1St Floor, Samir Complex, Cc-3(4), Central Range-3, Mumbai Vs. St.Andrews Road, Opp. Holy Family Hospital, Bandra(W), Mumbai-400050 .. Appellant Respondent Co No.189/Mum/2015 (In Ita No.3814/Mum/2014 A.Y. 2006-07) Shri Samir Narain Bhojani Dy. Commissioner Of Income 1St Floor, Samir Complex, Tax, Cc-3(4), Central Range-3, St.Andrews Road, Opp. Holy Family Mumbai Vs. Hospital, Bandra(W), Mumbai- 400050 Pan No.Aabpb9150H Appellant .. Respondent

…arned DR also conceded the position. 6. We find that this issue now stands covered in favour of assessee and against the Revenue by the decision of Hon’ble Bombay High Court in the case of CIT vs Continental Warehousing Corporation (Nhava Sheval) Ltd. (2015) 374 ITR 645 (Bombay), wherein also considering the judgment of the Special Bench of the Mumbai Tribunal in the case of All Cargo Global Logistics 137 ITD 287(SB) (Mum), considered the issue that, whether there is scope of assessment u/s. 153A of the Act in respect to completed assessment which is limited only to undisclosed income and undisclosed assets foun…

DCIT Cen Cir 8(1), Mumbai vs. Indra Gaggar, Mumbai

In the result, all the appeals of the Revenue are dismissed

Bench: Shri Rajendra & Shri C.N. Prasadआयकर अपील सं./Ita Nos.808, 1295, 1294, 1296 & 809/M/2015 आयकर अपील सं आयकर अपील सं आयकर अपील सं (िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07, 2007-08, 2008-09, 2009-10 & 2011-12) िनधा"रण वष" िनधा"रण वष" Dcit Cen Cir 8(1), Smt. Indra Gaggar, R.No.656, 6Th Floor, 41-42, 4Th Floor, Aayakar Bhavan, Gaurav Extension, M.K. Road, Film City Road., बनाम/Vs. बनाम बनाम बनाम Mumbai – 400 020 Gokuldham, Goregaon (East), Mumbai – 400 063 Pan: Afxpg3889B (अपीलाथ% अपीलाथ%/Appellant) ("&यथ% "&यथ%/Respondent) अपीलाथ% अपीलाथ% "&यथ% "&यथ% Present For: Assessee By : Shri Anuj Kisnadwala, A.R. Revenue By : Shri P. Ghosh, D.R. सुनवाई क' तारीख/Date Of Hearing : 15.11.2016 सुनवाई क' तारीख सुनवाई क' तारीख सुनवाई क' तारीख घोषणा क' तारीख /Date Of Pronouncement : 30.11.2016 घोषणा क' तारीख घोषणा क' तारीख घोषणा क' तारीख आदेश / O R D E R Per Bench:

…the following decisions and submitted that for a non abated assessment year an addition can be made in an assessment made under section 153A or 153C of the Act only on the basis of material found during the course of the search. 1. All Cargo Global Logistics [374 ITR 645 (Bom)] 2. CIT v. Gurinder Singh Bawa [386 ITR 483 (Bom)] 3. CIT v. Kabul Chawla [380 ITR 573 (Del)] 4. Narpat Mehta v. ACIT CC 4(1), Mumbai in ITA Nos.2151 and 2153/Mum/2015 for A.Ys. 2005-06 and 2008-09 dated 30.09.2016 The Revenue could not bring on record any incriminating material suggesting for above addition. Therefore respectfully followin…

Ramesh Sumermal Shah, Mumbai vs. DCIT Cir 36, Mumbai

In the result, appeal filed by the assessee is allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumarसर्वश्री सक्तिक्िि डे, न्याययक सदस्य एवुं रािेश कुमार, ऱेखा सदस्य आमकय अऩीर सं./I.T.A. No.414/Mum/2010 (यनधावरण र्र्व / Assessment Years : 2001-02) Shri Ramesh Sumermal Shah, बनाम/ Dy. Commissioner Of Income Tax 220, Commerce House, Circle 36, Vs. 140 N M Road, Fort, 11/43, Ground Floor, Aayakar Bhavan, Mumbai-400023 M K Road, Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aagps9863H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. अऩीराथी की ओय से/Appellant By : Shri Nishit Gandhi प्रत्मथी की ओय से/ Respondent By : Shri Prawin Kumar सुनवाई की तायीख / Date Of Hearing :28.4.2016 घोषणा की तायीख /Date Of Pronouncement :28 .11.2016 आदेश / O R D E R Per Rajesh Kumarthis Is An Appeal By The Assessee Against Order Dated 13/11/2009 Of Ld. Cit(Appeals)-41 Mumbai For The Assessment Year 2001-02 Passed Against The Assessment Framed By The Ao U/S 143(3) R.W.S. 153A Of The Income Tax Act (Hereinafter Called The Act). 2. The Grounds Raised By The Assessee Are As Under:- “On The Facts & In The Circumstances Of The Case He Ld. Cit(A) Has Erred In Law In Confirming The Addition Of Rs.2,25,00,000/- Made By The Ao On Disbelieving Gift Received By The Appellant”

…on the basis 6 incriminating materials seized during the search action. In defence of his argument the ld.AR heavily relied on the decision of the Hon‟ble Bombay High Court in the cases of CIT V/s Continental Warehousing Corporation (Nhava Sheva) Ltd. [2015] 374 ITR 645 (Bombay) and CIT vs. Murli Agro Products Ltd (Nagpur Bench of the Bombay High Court) 2014] 49 taxmann.com 172 (Bombay) and the decision of the co-ordinate Bench of the Tribunal in the case of Jignesh P Shah V/s DCIT in ITA Nos. 1553 and 3173/Mum/2010 (AY-2002-03 and 2004-05) dated 13.2.2015, wherein the identical issue has been decided in favour…

Sri. DCIT Cen Cir-22, Mumbai vs. Shripal S. Morakhia, Mumbai

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

…material was found which leads to the reassessment of the income of the assessee, therefore the assessment order dated 28.03.2006 and subsequently the order passed by the CIT(A) in question are wrong against law and facts in view of the law settled in [2015] 374 ITR 645 titled as Commissioner of Income Tax Vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. and All Cargo Global Logistics Ltd. and Bombay High Court in case of CIT Vs. Murli Agro Products Ltd. (ITA No.36 of 2009) and 259 CTR 281 (Raj.) in case titled as Jai Steel (India) Vs. Asst. CIT and 380 ITR 573 (Del) in case titled as CIT Vs. Kabul Cha…

Pratyaksha Properties P.Ltd, Navi Mumbai vs. DCIT CC 47, Mumbai

In the result, appeals of the assessee are allowed in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm

…Pratyaksha Properties Pvt. Ltd., which was relied by CIT(A) and it was held that in the absence of any incriminating material no addition u/s.153A can be made. 22. The jurisdictional High Court in the case of Continental Warehousing Corporation (Nhava Sheva) 374 ITR 645, vide order dated 21-4-2015 have considered the decision of Special Bench in the case of All Cargo and also the decision of Delhi High Court in the case of Anil Bhatia (supra), on which CIT(A) has relied for dismissing legal ground raised by assessee. After elaborate discussion the Hon‟ble High Court held, Head Note, reads as under :- A bare peru…

Pratyaksha Properties P.Ltd, Navi Mumbai vs. DCIT CC 47, Mumbai

In the result, appeals of the assessee are allowed in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm

…Pratyaksha Properties Pvt. Ltd., which was relied by CIT(A) and it was held that in the absence of any incriminating material no addition u/s.153A can be made. 22. The jurisdictional High Court in the case of Continental Warehousing Corporation (Nhava Sheva) 374 ITR 645, vide order dated 21-4-2015 have considered the decision of Special Bench in the case of All Cargo and also the decision of Delhi High Court in the case of Anil Bhatia (supra), on which CIT(A) has relied for dismissing legal ground raised by assessee. After elaborate discussion the Hon‟ble High Court held, Head Note, reads as under :- A bare peru…

Layer Exports P. Ltd, Mumbai vs. ACIT Cen Cir 21, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

ACIT Cen Cir 21, Mumbai vs. Layer Exports P.Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

Balaji Universal Tradelink P.Ltd, Mumbai vs. DCIT Cen Cir 40, Mumbai

The appeals of the assessee are allowed and that of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri Sanjay Arora

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, बी, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी संजय अरोड़ा, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Sanjay Arora, Accountant Member ITA NO.2183/Mum/ 2013 Assessment Years:2004-05 M/s Balalji Universal vs DCIT, Tradelink Pvt. Ltd., Central Circle-40, C-71/75, 7th Floor, Room No.653, 6th Floor, Mittal Tower, Aayakar Bhavan Nariman Point, M.K.Road, Mumbai-400021 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AABCL0236H ITA NOs.2184 to 2186/Mum/2013 Assessment Years:2005-0…

Layer Exports P. Ltd, Mumbai vs. Asst CIT Cen Cir 21, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

ACIT Cen Cir 21, Mumbai vs. Layer Exports P.Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…

Layer Exports P.Ltd, Mumbai vs. ACIT Cen Cir 24 & 26, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…d u/s 153A of the Act merely on the basis of change of opinion, there being no change in facts and circumstances as compared to the past. Judgment of Hon.ble Bombay High Court in the case of CIT V. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (BOM), wherein Hon‟ble Bombay High Court has laid down that if there is no incriminating material found during the course of search then the power under section 153 A of the Act, being not expected to be exercised routinely and should be exercised if the search revealed any incriminating material. 58. In view of the aforesaid case of Hon‟ble Bom…