CIT v. Nayan Builders and Developers

DCIT-1(2)1, Mumbai vs. Bombay Rayon Holdings Limited, Mumbai

In the result, all the four appeals by the Revenue having common ground are dismissed

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

…ot be levied by charging the assessee with the charge of furnishing inaccurate particulars of income. 5.2. For giving the above finding, we draw force from the decision of Hon’ble jurisdictional High Court of Bombay in the case of Nayan Builders & Developers 368 ITR 722 (Bom) who held that where the quantum appeal is pending before the Hon’ble High Court, penalty under section 271(1)(c) is not leviable. Similarly, before the coordinate bench of ITAT Mumbai in the case of DCIT LTU v. Reliance Industries Ltd in ITA Nos. 6267-6269/Mum/2018 who after considering plethora of judicial precedents including that of Naya…

DCIT-1(2)1, Mumbai vs. Bombay Rayon Holdings Limited, Mumbai

In the result, all the four appeals by the Revenue having common ground are dismissed

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

…ot be levied by charging the assessee with the charge of furnishing inaccurate particulars of income. 5.2. For giving the above finding, we draw force from the decision of Hon’ble jurisdictional High Court of Bombay in the case of Nayan Builders & Developers 368 ITR 722 (Bom) who held that where the quantum appeal is pending before the Hon’ble High Court, penalty under section 271(1)(c) is not leviable. Similarly, before the coordinate bench of ITAT Mumbai in the case of DCIT LTU v. Reliance Industries Ltd in ITA Nos. 6267-6269/Mum/2018 who after considering plethora of judicial precedents including that of Naya…

DCIT-1(2)1, Mumbai vs. Bombay Rayon Holdings Limited, Mumbai

In the result, all the four appeals by the Revenue having common ground are dismissed

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

…ot be levied by charging the assessee with the charge of furnishing inaccurate particulars of income. 5.2. For giving the above finding, we draw force from the decision of Hon’ble jurisdictional High Court of Bombay in the case of Nayan Builders & Developers 368 ITR 722 (Bom) who held that where the quantum appeal is pending before the Hon’ble High Court, penalty under section 271(1)(c) is not leviable. Similarly, before the coordinate bench of ITAT Mumbai in the case of DCIT LTU v. Reliance Industries Ltd in ITA Nos. 6267-6269/Mum/2018 who after considering plethora of judicial precedents including that of Naya…

Capacite Infraprojects Limited, Mumbai vs. ACIT/DCIT Central Circle 1(2), Mumbai

Bench: SHRI AMRJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI SHRI AMRJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Capacite Infraprojects Limited 605 607, Shreekanth Chambers, Phase 1, Sion Trombay Road, Chembur – 400071. Maharashtra. [PAN:AAECC9463G] …………. Appellant Vs Assistant Commissioner of Income Tax/ Deputy Commissioner of Income Tax Central Circle 1(2) Prathishtha Bhavan, 9th Floor, Churchgate, Mumbai - 400020 …………. Respondent Appearance For the Appellant/ Assessee : Shri Viraj Mehta For the Respondent/Department : Shri Mahesh Pamnani Date Conclusion of hearing : 28.01.2025 Pronouncement of…

Vidyasagar Mahavir Prasad Sah, Mumbai vs. Adcit 23(3), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

Bench: Shri Pramod Kumar, Vp & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 2460/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Vidyasagar Mahavir Prasad बिधम/ Adcit 23(3) 104, 1St Floor, Matru Mandir, Sah Vs. 22 A Band Stand Society Tardeo Rd, Mumbai-400007. 197-C, Kane Rd Bandra (W), Mumbai-400050. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aafps5412H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Madhur Aggarwal (Dr) Revenue By: Shri Padma Ram Mirdha (Dr) सुनवाई की तारीख / Date Of Hearing: 03/02/2020 घोषणा की तारीख /Date Of Pronouncement: 24/ 08/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 21.02.2018 Passed By The Commissioner Of Income Tax (Appeals)-34, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13 In Which The Penalty Levied By The Ao Has Been Ordered To Be Confirmed.

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR, VP AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No. 2460/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Vidyasagar Mahavir Prasad बिधम/ ADCIT 23(3) 104, 1st Floor, Matru Mandir, Sah Vs. 22 A Band Stand Society Tardeo Rd, Mumbai-400007. 197-C, Kane Rd Bandra (W), Mumbai-400050. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAFPS5412H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee by: Shri Madhur Aggarwal (DR) Revenue by: Shri Padma Ram Mirdha (DR) सुनवाई की तारीख / Date of Hearing: 03/02/2020 घोषणा की तारीख /Date of Pr…

Jamsetji Tata Trust, Mumbai vs. ACIT (E) I-1, Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

Bench: Shri Pramod Kumar, Vp & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1010/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) Jamsetji Tata Trust बिधम/ Acit (E) 1-1 Bombay House, Homi Mody Aayakar Bhavan, M. K. Vs. Street, Mumbai-400001. Road, Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaatj0095N (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Sukhsagar Syal Revenue By: Shri Shishir Dhamija (Dr) सुनवाई की तारीख / Date Of Hearing: 04/02/2020 घोषणा की तारीख /Date Of Pronouncement: 09/07/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 24.12.2018 Passed By The Commissioner Of Income Tax (Appeals)-5, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2010-11

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR, VP AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.1010/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) Jamsetji Tata Trust बिधम/ ACIT (E) 1-1 Bombay House, Homi Mody Aayakar Bhavan, M. K. Vs. Street, Mumbai-400001. Road, Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAATJ0095N (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee by: Shri Sukhsagar Syal Revenue by: Shri Shishir Dhamija (DR) सुनवाई की तारीख / Date of Hearing: 04/02/2020 घोषणा की तारीख /Date of Pronouncement: 09/07/2020 आदेश / O R D E R PER AMAR…

Luxora Infrastructure P.Ltd, Mumbai vs. ITO 6(3)2 (Restructured Designation Central Circle-2(1)), Mumbai

In the result, appeal by the assessee is allowed

Bench: Shri Shamim Yahya (Am) & Shri Pawan Singh (Jm)

…THE INCOME TAX APPELLATE TRIBUNAL “A” Bench, Mumbai Before Shri Shamim Yahya (AM) & Shri Pawan Singh (JM) I.T.A. No. 4768/Mum/2018 (Assessment Year 2009-10) Luxora Infrastructure Pvt. Ltd. ITO-6(3)(2) Vs. A-1207, 02 Commercial Mumbai Building, 23-24 Minerva Industrial Estate, Mulund-W Mumbai-400 080. PAN : AABCL2854K (Appellant) (Respondent) Assessee by Shri K.P. Dewani Department by Shri Michael Jeralad Date of Hearing 21.02.2020 Date of Pronouncement 18.03.2020 O R D E R Per Shamim Yahya (AM) :- This appeal by the assessee is directed against order of learned CIT-A dated 31.5.2018 and pertains to assess…

Johnson & Johnson P. Ltd, Mumbai vs. DCIT Ltu, Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri R.C.Sharma & Shri Vikas Awasthydy. Commissioner Of In Come Tax Large Tax Payer Unit)-1, World Trade Centre, Centre-1, 29Th Floor, Cuffe Parade, Mumbai – 400 005 ...... Appellant

…on’ble High court it become a debatable issue and hence no penalty is leviable on such issues. To buttress his submissions, the ld. Authorized Representative of the assessee placed reliance on the following decisions: (i) CIT vs. Nayan Builders & Developers, 368 ITR 722(Bom) (ii) CIT vs. M/s. Advaita Estate Development Pvt. Ltd. , Income Tax appeal No.1498 of 2014 decided on 17/02/2017. 6 ITA NO.4253/MUM/2016(A.Y. 2008-09) 11. On the other hand, the ld.Departmental Representative vehemently defended the impugned order in confirming penalty levied under section 271(1)(c) of the Act in respect of non-disclosure o…

Mutha Parasram Dhanaji & Co, Kalyan vs. DCIT Cen Cir 1, Thane

In the result, appeal filed by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri G. Manjunatha

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘डी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI "ी संद"प गोसाई , "या"यक सद"य एवं "ी जी. मंजूनाथ, लेखा सद"य, के सम" Before Shri SANDEEP GOSAIN, Judicial Member AND Shri G. MANJUNATHA, Accountant Member, ITA Nos.4030 to 4032/Mum/2015 Assessment Years: 2004-05, 2005-06 & 2007-08 M/s Mutha Parasram DCIT, Dhanaji & Co. 201, Central Circle-1 बनाम/ Thane, Narayanwadi, Station Road, Vs. Kalyan (W) ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.AAFFM5521R "नधा"रती क" ओर से / Assessee by Shri H. N. Motiwalla & Shri M. P. Chhajed Shri D.G. Pansari CIT-DR राज"व…

Mutha Parasram Dhanaji & Co, Kalyan vs. DCIT Cen Cir 1, Thane

In the result, appeal filed by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri G. Manjunatha

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘डी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI "ी संद"प गोसाई , "या"यक सद"य एवं "ी जी. मंजूनाथ, लेखा सद"य, के सम" Before Shri SANDEEP GOSAIN, Judicial Member AND Shri G. MANJUNATHA, Accountant Member, ITA Nos.4030 to 4032/Mum/2015 Assessment Years: 2004-05, 2005-06 & 2007-08 M/s Mutha Parasram DCIT, Dhanaji & Co. 201, Central Circle-1 बनाम/ Thane, Narayanwadi, Station Road, Vs. Kalyan (W) ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.AAFFM5521R "नधा"रती क" ओर से / Assessee by Shri H. N. Motiwalla & Shri M. P. Chhajed Shri D.G. Pansari CIT-DR राज"व…

Mutha Parasram Dhanaji & Co, Kalyan vs. DCIT Cen Cir 1, Thane

In the result, appeal filed by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri G. Manjunatha

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘डी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI "ी संद"प गोसाई , "या"यक सद"य एवं "ी जी. मंजूनाथ, लेखा सद"य, के सम" Before Shri SANDEEP GOSAIN, Judicial Member AND Shri G. MANJUNATHA, Accountant Member, ITA Nos.4030 to 4032/Mum/2015 Assessment Years: 2004-05, 2005-06 & 2007-08 M/s Mutha Parasram DCIT, Dhanaji & Co. 201, Central Circle-1 बनाम/ Thane, Narayanwadi, Station Road, Vs. Kalyan (W) ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.AAFFM5521R "नधा"रती क" ओर से / Assessee by Shri H. N. Motiwalla & Shri M. P. Chhajed Shri D.G. Pansari CIT-DR राज"व…