CIT v. Keiser-EHind Mills Co. Ltd.

MUMBAI INTERNATIONAL AIRPORT P.LTD,MUMBAI vs. DCIT 10(2)(2), MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri G. Manjunatha & Shri Ravish Soodmumbai International Airport Vs. Dcit,Circle-10(2)(2) Private Limited Room No.209,Aaykar Bhawan Finance Department M.K.Road 1St Floor, Terminal 1B Mumbai-400 020 Chhatrapati Shivaji Internaitonal Airport Santacruz (E) Mumbai-400 099 Pan/Gir No.Aaecm6285C (Appellant) .. (Respondent) & Dcit-10(2)(2) Vs. Mumbai International Room No.216-A,Aaykar Bhawan Airport Private Limited M.K.Road Finance Department, 1St Floor, Terminal 1B Mumbai-400 020 Chhatrapati Shivaji Internaitonal Airport Santacruz (E) Mumbai-400 099

…59, but it was assessable in the assessment year 1953-54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-EHind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

INCOME TAX OFFICER 11(3)(3), MUMBAI vs. VIKUNJ ENTERPRISES PRIVATE LIMITED, MUMBAI

In the result, the appealed filed by the revenue is dismissed

Bench: Shri Sandeep Gosain () & Shri N.K. Pradhan () Assessment Year: 2014-15 Income Tax Officer Vikunj Enterprises Private 11(3)(3), Room No.429, Vs. Limited, B-1, Neela Apartment, Aayakar Bhavan, 4Th Floor, S.V.Road, Borivali(West), M.K. Marg, Mumbai- Mumbai-400092. 400020. Pan No. Aabcv6166C Appellant Respondent Revenue By : Shri. Rajeev Gubgotra, Dr Assessee By : Shri. Rahul R. Sarda, Ar Date Of Hearing : 08/04/2019 Date Of Pronouncement : 30/04/2019 Order Per N.K. Pradhan, Am This Is An Appeal Filed By The Revenue. The Relevant Assessment Year Is 2014-15. The Appeal Is Directed Against The Order Of The Commissioner Of Income Tax-18, Mumbai [In Short ‘Cit(A)’] & Arises Out Of The Assessment Completed U/S 143(3) Of The Income Tax Act 1961, (The ‘Act’). 2. The Ground Of Appeal Filed By The Revenue Reads As Under: “Whether On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Is Justified In Giving Relief To The Assessee Of Rs.1,28,42,775/- By Considering The Income As Per Revised Return Of Income (Revised Return Filed On 17.02.2015) Which Was Not The Valid Return Of Income As Per Section 139(5) Which States That – If Any Person, Having Furnished A Return Under Sub Section (1), Or In Pursuance Of A Notice Issued Under Sub Section (1) Of Section 142, Discovers Any Omission Or Any Wrong Statement Therein, He May Furnish A Revised Return At Any Time Before The Expiry Of One Year From The End Of The Relevant Assessment Year Of Before

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI SANDEEP GOSAIN (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2014-15 Income Tax Officer Vikunj Enterprises Private 11(3)(3), Room No.429, Vs. Limited, B-1, Neela Apartment, Aayakar Bhavan, 4th floor, S.V.Road, Borivali(West), M.K. Marg, Mumbai- Mumbai-400092. 400020. PAN No. AABCV6166C Appellant Respondent Revenue by : Shri. Rajeev Gubgotra, DR Assessee by : Shri. Rahul R. Sarda, AR Date of Hearing : 08/04/2019 Date of pronouncement : 30/04/2019 ORDER PER N.K. PRADHAN, AM This is an appeal filed by the Rev…

DCIT 8(2), MUMBAI vs. MUMBAI INTERNATIONAL AIRPORT P. LTD, MUMBAI

In the result, assessee’s appeals are statistically allowed and revenue’s

Bench: Shri P K Bansal & Shri Pawan Singh

…9, but it was assessable in the assessment year 1953- 54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-EHind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

MUMBAI INTERNATIONAL AIRPORT P. LTD,MUMBAI vs. ADDL CIT 8(2), MUMBAI

In the result, assessee’s appeals are statistically allowed and revenue’s

Bench: Shri P K Bansal & Shri Pawan Singh

…9, but it was assessable in the assessment year 1953- 54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-EHind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

DCIT 8(2), MUMBAI vs. MUMBAI INTERNATIONAL AIRPORT P.LTD, MUMBAI

In the result, assessee’s appeals are statistically allowed and revenue’s

Bench: Shri P K Bansal & Shri Pawan Singh

…9, but it was assessable in the assessment year 1953- 54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-EHind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

MUMBAI INTERNATIONAL AIRPORT P.LTD,MUMBAI vs. ADDL CIT RG 8(2), MUMBAI

In the result, assessee’s appeals are statistically allowed and revenue’s

Bench: Shri P K Bansal & Shri Pawan Singh

…9, but it was assessable in the assessment year 1953- 54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-EHind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

DCIT 8(2), MUMBAI vs. MUMBAI INTERNAIOTNAL AIRPORT P.LTD, MUMBAI

In the result, assessee’s appeals are statistically allowed and revenue’s

Bench: Shri P K Bansal & Shri Pawan Singh

…9, but it was assessable in the assessment year 1953- 54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-EHind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

MUMBAI INTERNATIONAL AIRPORT P.LTD,MUMBAI vs. ADDL CIT RG 8(20, MUMBAI

In the result, assessee’s appeals are statistically allowed and revenue’s

Bench: Shri P K Bansal & Shri Pawan Singh

…9, but it was assessable in the assessment year 1953- 54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-EHind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

BHOIR DREDGING COMPANY P. LTD,MUMBAI vs. DCIT 3(1), MUMBAI

Appeal is allowed in favour of the assessee, in part

Bench: S/Shri Rajendra & Ram Lal Negiआयकर अपील अपील संसंसंसं./Ita/3701-02/Mum/2015,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2006-07 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" M/S. Bhoir Dredging Company Pvt.Ltd. Dcit, 318, Maker Chamber V, Nariman Point Circle 3(1),Mumbai. Vs. Mumbai-400 021. Pan:Aaacb 0473 D (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri M.C. Omi Ningshen-Dr Assessee By: Shri Y.P. Trivedi & Ms. Usha Dalal सुनवाई क" तारीख / Date Of Hearing: 21.02.2017 घोषणा क" तारीख / Date Of Pronouncement: 05.04.2017 आयकर आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार Per Rajendra, Am- लेखा लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Orders Dated 26/03/2015 Of The Cit (A)-8,Mumbai The Assessee Company Has Filed The Present Appeals.Assessee-Company Is Engaged In The Business Of Manufacturing & Producing Of Sand,Hiring Of Equipments & Ships.It Filed Its Return Of Income On 14/11/2006, Declaring Total Income At Rs.78.93 Lakhs.The Return Was Processed U/S.143 (1) Of The Act & A Demand Of Rs. 25.96 Lakhs Was Raised.

…ake apparent from record,that it had filed all the relevant particulars in its return of income. It relied upon the circular of the CBDT, dated 11/04/1955 that was followed by the Hon’ble Gujarat court in the case of the Ahmedabad Keiser E hind Mills Co.Ltd. (128 ITR 486). The AO disposed off the second rectification of vacation on 18/11/2013 and rejected the claim made by the assessee. 3701-02/M/15(06-07) 3.Aggrieved by the Order of the AO, the Assessee Preferred an Appeal before the First Appellate Authority(FAA).Before him,the assessee raised the same arguments that are mentioned in the earlier paragraph.Aft…

ADDL CIT 8(2), MUMBAI vs. MUMBAI INTERNATIONAL AIRPORT P. LTD, MUMBAI

Bench: Shri Mahavir Singh & Shri Ashwani Tanejaassessment Year: 2008-09

…, but it was assessable in the assessment year 1953-54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-E- Hind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…

MUMBAI INTERNATIONAL AIRPORT P. LTD,MUMBAI vs. ADDL CIT RG 8(2), MUMBAI

Bench: Shri Mahavir Singh & Shri Ashwani Tanejaassessment Year: 2008-09

…, but it was assessable in the assessment year 1953-54. It could not, therefore, be taxed in the assessment year 1958-59.” 14.11. Our view is further fortified in view of judgment of Hon’ble Gujrat High Court in the case of CIT vs Keiser-E- Hind Mills Co. Ltd 128 ITR 486 (Guj.) in which their lordships have relied upon circular of the Board wherein a duty has been cast upon the Revenue officials to guide the assessee for making claims as permissible under the law. Relevant portion is reproduced below: “In view of the circular No. 14(XI-35) of 1955 dated 11-4- 1955, it was clear that for the purpose of the circula…