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

Mangal Prabhat Lodha, Mumbai vs. DCIT Cen Cir 7(3) (Erestwhile Cen Cir 4(2), Mumbai

In the result, the appeal of the assessee is allowed as above

…ess some incriminating material was found during the course of search in connection with the impugned issue. In support of the said proposition, the Ld. Representative for the assessee has relied upon the following decisions:- (i) All Cargo Global Logistics, 374 ITR 645 (Bom) (ii) Suncity Alloys (P) Ltd. vs. ACIT, 124 TTJ 674 (Jod) (iii) Athithi N. Patel, ITA No.43/Mum/2010 order dated 22/08/2012 (Assessment Year : 2006-07) (iv) Saf Yeast Company Pvt. Ltd. vs. ACIT, ITA NO.1074/PN/2007 order dated 03.10.2012 (v) B.R. Machine Tools Pvt. Ltd. vs. ACIT, ITA No.4174 to 4177/Mum/2013 order dated 06.12.2013. (vi) Gu…

Mangal Prabhat Lodha, Mumbai vs. DCIT Cen Cir 7(3), Mumbai

In the result, the appeal of the assessee is allowed as above

…ting material was found during the course of search regarding the unexplained nature of the impugned income. In support of the said proposition, the Ld. Representative for the assessee has relied upon the following decisions:- (i) All Cargo Global Logistics, 374 ITR 645 (Bom) (ii) Suncity Alloys (P) Ltd. vs. ACIT, 124 TTJ 674 (Jod) (iii) Athithi N. Patel, ITA No.43/Mum/2010 order dated 22/08/2012 4 (iv) Saf Yeast Company Pvt. Ltd. vs. ACIT, ITA NO.1074/PN/2007 order dated 03.10.2012 (v) B.R. Machine Tools Pvt. Ltd. vs. ACIT, ITA No.4174 to 4177/Mum/2013 order dated 06.12.2013. (vi) Gurinder Singh Bawa, ITA No.…

ACIT CC 39, Mumbai vs. United Liner Agencies of India P.Ltd, Mumbai

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 Acit, M/S United Liner Agencies Of Cc-6(4), R. No.32(1), India P. Ltd. बनाम/ Ground Floor, Godrej Coliseum, Office Vs. Aayakar Bhavan, M.K.Road No.801, C-Wing, Behind Mumbai-400020 Everard Nagar, Off Somaiya Hospital Road, Sion East, Mumbai-400022 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacu5182C Shri Narendra Kumar Cit-Dr राज"व क" ओर से / Revenue By "नधा"रती क" ओर से / Assessee By Shri Y. P. Trivedi & Usha Dalal

…ther hand, the ld. counsel for the assessee contended that the impugned issue is covered by the decision of the Tribunal in the case of assessee itself (ITA No.273, 275, 943 & 944/Mum/2013) order dated 28/06/2013. Reliance was also placed upon the decision in 374 ITR 645 (Bom.) This factual matrix was not controverted by the Revenue. 2.2. We have considered the rival submissions and perused the material available on record. If the observation made in the assessment order, leading to addition made to the total income, conclusion drawn in the impugned order, material available on record, assertions made by the ld.…

Vimal Kumar Rathi, Mumbai vs. DCIT Cen Cir 17 & 28, Mumbai

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

Bench: Shri D. Karunakara Rao & Shri Sanjay Garg

…10.01.2014 (supra); All Cargo Global Logistics v. Addl.CIT (supra); SKS Ispat and Power Limited vs. DCIT CC 45 (ITA 8746/M/12 and ITA 8747/M/12) (supra) as well as the judgment of the Hon‟ble Bombay High Court in the cases of CIT v. All Cargo Global Logistic (374 ITR 645) (supra), copies of which are placed on record. On perusal of the said decisions, we find they are relevant for the proposition that “when no assessment has abated, the question of making any addition or making disallowance which are not based on only material found during the search is bad in law”. In this regard, we find it relevant to extract…

ACIT Cen Cir 33, Mumbai vs. Vishal Jayendra. Jhaveri, Mumbai

The appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

…nal, on identical facts, in the case of father and uncle of the assessee. Our attention was invited to page 77, 78, 80, 90 and 95 of the paper book by placing reliance upon the decision in Continental Warehousing Corporation and All Cargo Global Logistic Ltd. 374 ITR 645 (Bom). Reliance was also placed upon the 3 Visttal Jayendra Jhaveri ITA No.2146 & 2147/Mum/2012 & C.O. No.284 & 285/Mum/2013 decision in the case of ACIT vs Shri Jayendra P. Jhaveri (ITA No.2141 to 2144/Mum/2012) (Assessment Years 2003-04 to 2006-07), order dated 20/02/2014, ITA No.2139, 2140, 2159 and 2160/Mum/2012, in the case of ACIT vs Yogin…

ACIT Cen Cir 33, Mumbai vs. Vishal Jayendra. Jhaveri, Mumbai

The appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

…nal, on identical facts, in the case of father and uncle of the assessee. Our attention was invited to page 77, 78, 80, 90 and 95 of the paper book by placing reliance upon the decision in Continental Warehousing Corporation and All Cargo Global Logistic Ltd. 374 ITR 645 (Bom). Reliance was also placed upon the 3 Visttal Jayendra Jhaveri ITA No.2146 & 2147/Mum/2012 & C.O. No.284 & 285/Mum/2013 decision in the case of ACIT vs Shri Jayendra P. Jhaveri (ITA No.2141 to 2144/Mum/2012) (Assessment Years 2003-04 to 2006-07), order dated 20/02/2014, ITA No.2139, 2140, 2159 and 2160/Mum/2012, in the case of ACIT vs Yogin…

DCIT Cen Cir 2(3), Mumbai vs. Empire Mall P.Ltd, Mumbai

In the result, the appeals filed by the Revenue are treated as dismissed on the ground that it is of academic importance whereas the cross objections filed by the assessee are allowed

Bench: Shri D. Manmohan

…hile making assessment under section 153A only on the basis of some incriminating material unearthed during the course of search proceedings. Similarly the Hon'ble Bombay High Court in the case of CIT vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. 374 ITR 645 held, in the context of provisions of section 153A, that no addition can be made in respect of assessment which have become final if no incriminating material is found during the search. Reliance was also placed upon the decision of the ITAT Cochin (Third Member) in the case of DCIT vs. Royal Cartons Pvt. Ltd. (ITA 472/Coch/2013 dated 16.09.2015)…

DCIT Cen Cir 2(3), Mumbai vs. Empire Mall P.Ltd, Mumbai

In the result, the appeals filed by the Revenue are treated as dismissed on the ground that it is of academic importance whereas the cross objections filed by the assessee are allowed

Bench: Shri D. Manmohan

…hile making assessment under section 153A only on the basis of some incriminating material unearthed during the course of search proceedings. Similarly the Hon'ble Bombay High Court in the case of CIT vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. 374 ITR 645 held, in the context of provisions of section 153A, that no addition can be made in respect of assessment which have become final if no incriminating material is found during the search. Reliance was also placed upon the decision of the ITAT Cochin (Third Member) in the case of DCIT vs. Royal Cartons Pvt. Ltd. (ITA 472/Coch/2013 dated 16.09.2015)…

DCIT Cen Cir 23, Mumbai vs. Rajendra Barot, Mumbai

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

Bench: Shri D. Karunakara Rao & Shri Lalit Kumar

…e) of the Act which was confirmed by the learned CIT(A) against which also the assessee has filed an appeal before the Hon'ble Tribunal. It is submitted that as per the decision of the Hon'ble Bombay High court in the case of CIT v. All Cargo Global Logistic (374 ITR 645) only the assessments pending on the date of search abate. In other words, the assessments not pending on the date of initiation shall not abate and the original assessment order passed u/s 143(3) of the Act shall stand. It is submitted that as per the provisions of Section 153A of the Act, the Assessing Officer is duty bound to issue notice u/s…

Dhananjay International Ltd, Mumbai vs. DCIT Cen Cir 44, Mumbai

In the result, four appeals of the Revenue are dismissed

Bench: Shri D. Karunakara Rao & Shri Lalit Kumar

…unsel for the assessee filed written submissions and the relevant portions from the said written submissions are extracted as under: “It is submitted that as per the decision of the Hon'ble Bombay High court in the 6. case of CIT v. All Cargo Global Logistic (374 ITR 645) only the assessments pending on the date of search abate. In other words, the assessments not pending on the date of initiation shall not abate and the original assessment order passed u/ s 143(3) of the Act shall stand. It is submitted that as per the provisions of Section 153A of the Act, the Assessing Officer is duty bound to issue notice u/…