CIT v. Orchid Industries Pvt. Ltd.

Kunjbala N. Parikh, Mumbai vs. ITO 27 (2)(1), Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri N.K. Pradhansmt.Kunjbala N.Parikh Income Tax Officer-(27)(2)(1) A-9, Green Land, 3Rd Floor, Tower No.6, Vallabhaug Lane, Ghatkopar (East) Railway Station Commercial Vs. Mumbai – 400 075 Complex, Vashi, Navi Mumbai – 400 703 Pan – Acwpp8038K (Appellant) (Respondent)

…ansactions in the backdrop of the voluminous documentary evidence furnished by the assessee could not be negated. Our aforesaid view is fortified by the judgment of the Hon’ble High Court of Bombay in the case of viz. CIT Vs. Orchid Industries Pvt. Ltd (2017) 397 ITR 136 (Bom). As such, we are of the considered view, that now when the assessee had been able to satisfactorily substantiate the authenticity of the purchases claimed to have been made from the aforementioned supplier party, therefore, there was no justification on the part of the revenue to have characterised the same as bogus on the basis of an unsub…

Yash Vikram Developers, Mumbai vs. ACIT Cir- 33(3), Mumbai

In the result, appeal is allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…ar 2013–14. Thus, he submitted, the addition made should be deleted. In support of his contentions, he relied upon the following decisions:– i) PCIT v/s Hi–Tech Residency Pvt. Ltd., [2018] 257 Taxmann 335 (SC); ii) CIT v/s Orchid Industries Pvt. Ltd., [2017] 397 ITR 136 (Bom.); 7 Yash Vikram Developers iii) CIT v/s Ranchhod Jivabhai Nakhava, [2012] 208 Taxman 35 (Guj.); iv) M/s. Rushabh Enterprises v/s ACIT, W.P. no.167/2015, dated 15.04.2015 (Bom. HC); v) Aravali Trading Co. v/s ITO, [2010] 187 Taxman 338 (Raj.); vi) Vasant Ramji Savla v/s ACIT, ITA no.1633, 1634, 1637/2017; vii) CIT v/s Vijay Kumar Jain, [20…

Deputy Commissioner of Income Tax Central Circle-6(3), Mumbai vs. M/S.Marathon Fiscal Private Limited, Mumbai

The appeal of the revenue is dismissed

Bench: Shri Ravish Sood & Shri N.K. Pradhandeputy Commissioner Of Income M/S Marathan Fiscal Pvt. Ltd., Tax, Central Circle-6(3), Marathan House, Room No. 1926, 19Th Floor, Lala Devi Dayal Road, Air India Building, Vs. Mulund (West), Nariman Point, Mumbai – 400080 Mumbai – 400021

…14.09.2017; (v). ITO Vs. Anant Shelters (P) Ld. (2012) 20 taxman.com153 (Mum); (vi). ACIT Vs. Shree A.S. Motiwala (2019), TIOL 676 (Mum); (vii). ITO Vs. Neelkanth Finbuild Ltd. (2015) 61 taxman.com 132 (Del); (viii). CIT Vs. Orchid Industries (P) Ltd. (2017) 397 ITR 136 (Bom); (ix). PCIT Vs. M/s Skylak Build (ITA No.616/Mum/2016, dated 24.10.2018) (Bom); and (x) M/s Gladiolus Properties and Inc. Pvt. ltd. (ITA No. 2924/Mum/2017, dated 16.05.2016. As regards the reliance placed by the counsel for the revenue on the order of the ITAT, “SMC” in the case of Pavankumar M. Sanghvi Vs. ITO (2017) 165 ITD 260 (Ahd), it…

DCIT 12(1)(1), Mumbai vs. Adhunik Trnasport Organisation Ltd, Mumbai

Bench: Hon’Ble Shri Mahavir Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.3725/Mum/2017 (िनधा"रण वष" / Assessment Year:2012-13) Dcit-12(1)(1) M/S. Adhunik Transport Organisation Ltd. Room No.223, 2Nd Floor, बनाम/ 115, Udyog Bhavan Sonawat Road, Goregaon (E) Aaykar Bhavan, M.K. Road Vs. Mumbai-400 063. Mumbai-400 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaca-4457-G (अपीलाथ"/Appellant) (""थ" / Respondent) : Revenue By : Ms. R. Kavitha-Ld. Dr Assessee By : Shri D.V. Lakhani-Ld. Ar सुनवाई की तारीख/ : 01/08/2019 Date Of Hearing घोषणा की तारीख / : 22/08/2019 Date Of Pronouncement आदेश / O R D E R

…1 M/s. Adhunik Transport Organisation Ltd. Assessment Year :2012-13 आयकर अपीलीय अिधकरण “ए” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI माननीय "ी महावीर िसंह, "ाियक सद" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI MAHAVIR SINGH, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ I.T.A. No.3725/Mum/2017 (िनधा"रण वष" / Assessment Year:2012-13) DCIT-12(1)(1) M/s. Adhunik Transport Organisation Ltd. Room No.223, 2nd Floor, बनाम/ 115, Udyog Bhavan Sonawat Road, Goregaon (E) Aaykar Bhavan, M.K. Road Vs. Mumbai-400 063. Mumbai-400 020. "थायीलेखासं./जीआइआरसं./PA…

Income Tax Officer-8(3)(3), Mumbai vs. Amrise Infra-Creators Private Limited(Formerly Known As M/S.Tirtha Industries Private Limited), Mumbai

Bench: Hon’Ble Shri Mahavir Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

…1 M/s. Amrise Infracreators Private Limited Assessment Year:2010-11 आयकर अपीलीय अिधकरण “ए” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI माननीय "ी महावीर िसंह, "ाियक सद" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI MAHAVIR SINGH, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ I.T.A. No.5366/Mum/2017 (िनधा"रण वष" / Assessment Year:2010-11) DCIT – 12(1)(1) M/s. Amrise Infracreators Pvt Ltd. (earlier known as M/s Tirtha Industries Pvt. Ltd.) Aaykar Bhavan, बनाम/ 302, Koshal Apts, Shankar Lane, M.K Road Vs. Kandivali(W) Mumbai – 400 020 Mumbai – 400 067.…

Income Tax Officer 25(3)(1), Mumbai vs. M. M. Corporation, Mumbai

Accordingly, in the backdrop of the aforesaid concession of the ld. A.R, the cross-objection filed by the assessee is dismissed as not pressed

Bench: Shri Ravish Sood & Shri N.K. Pradhanincome Tax Officer-25(3)(1) M.M. Corporation Room No. 603, C-10, 6Th Floor, 402/B, Bajaj View, Pratyakshakar Bhavan, Bajaj Road, Vs. Bandra Kurla Complex, Vile Parle (West), Bandra (East),Mumbai- 400 051. Mumbai – 400 056 Pan – Aaafm1898E (Appellant) (Respondent)

…eating the amounts received from them as an unexplained cash credit under Sec.68 of the Act. In support of his aforesaid contention the ld. A.R relied on the judgment of the Hon’ble High Court of Bombay in the case of CIT Vs. Orchid Industries (P) ltd. (2017) 397 ITR 136 (Bom). On the basis of his aforesaid contentions, it was submitted by the ld. A.R that the CIT(A) after correctly appreciating the facts of the case in the backdrop of the P a g e | 9 ITA No.626/Mum/2018 & C.O. No.72/Mum/2019 (Arising out of ITA No.626/Mum/2018 AY. 2008-09) Income Tax Officer-25(3)(1) Vs. M.M. Corporation settled position of law…

Yug Developers, Mumbai vs. ACIT-17(3), Mumbai

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

Bench: Shri Pawan Singh, Jm & Shri M.Balaganesh, Am

…rely because the lenders fail to appear before the ld AO or the assessee failing to produce them before the ld AO. Reliance in this regard is placed on the decision of Hon’ble Jurisdictional High Court in the case of CIT vs Orchid Industries P Ltd reported in 397 ITR 136 (Bom). We hold that no addition could be made on mere presumption that the assessee routed its own cash in the form of unsecured loans without any concrete evidence to this effect. Reliance has been rightly placed on the decision of Hon’ble Jurisdictional High Court in the case of PCIT vs Aquatic Remedies P Ltd in ITA No. 83 of 2016 affirming the…

ITO 12(1)(4), Mumbai vs. Consultshah Financial Services P.Ltd, Mumbai

Bench: Shri Sandeed Gosain () & Shri N.K. Pradhan () Assessment Year: 2011-12 Income Tax Officer- M/S Consultshah 12(1)(4), Room No. 145A, Vs. Financial Services Pvt. Aayakar Bhavan, M.K. Ltd., 426, 4Th Floor, Road, Churchgate, Sujata Niketan, Rani Sati Mumbai-400020. Road, Malad East, Mumbai-400097. Pan No. Aadcc3362K Appellant Respondent Revenue By : Mr. Abi Rama Kartikiyen, Dr Assessee By : Dr. Prayag Jha & Mr. Prateek Jha, Ars Date Of Hearing : 21/02/2019 Date Of Pronouncement: 16/05/2019

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C” MUMBAI BEFORE SHRI SANDEED GOSAIN (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2011-12 Income Tax Officer- M/s Consultshah 12(1)(4), Room No. 145A, Vs. Financial Services Pvt. Aayakar Bhavan, M.K. Ltd., 426, 4th floor, Road, Churchgate, Sujata Niketan, Rani Sati Mumbai-400020. Road, Malad East, Mumbai-400097. PAN No. AADCC3362K Appellant Respondent Revenue by : Mr. Abi Rama Kartikiyen, DR Assessee by : Dr. Prayag Jha & Mr. Prateek Jha, ARs Date of Hearing : 21/02/2019 Date of pronouncement: 16/05/2019 ORDER PER N.K. PRADHAN…