CIT v. Shyam R. Pawar

Mrs. Nisha Ashish Gupta, Mumbai vs. ITO-31(2) (4), Mumbai

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.1519/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) Mrs. Nisha Ashish Gupta बिधम/ Ito-31(2)(4) 1501, Anmol Enclave, Opp Pratyakshakar Bhavan, C- Vs. Patel Auto, Goregaon West, 13, Bandra Kurla Mumbai-400062. Complex, Bandra (East), Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Adlpg0969J (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vishnu Agarwal/Shri Amit Agarwal Revenue By: Shri Ashok Kumar Ambastha (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 21/12/2023 घोषणा की तारीख /Date Of Pronouncement: 23/01/2024 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi Dated 18.08.2021 For The Assessment Year 2014-15. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A) Upholding The Action Of The Ao Disallowing The Long Term Capital Gain (Ltcg) Claimed By The Assessee In Respect Of Sale Of Shares M/S. Sunrise Asian Limited (Hereafter “M/S. Sunrise”) Of Rs.98,81,550/- U/S 68 Of The Income Tax Act, 1961 (Hereinafter “The Act”). & Thus Denying Deduction U/S 10(38) Of The Act As Well As Upholding Addition Of Rs.1,97,631/- As Commission For Arranging The Bogus Ltcg (2% Of Commission) U/S 69C Of The Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T.A. No.1519/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) Mrs. Nisha Ashish Gupta बिधम/ ITO-31(2)(4) 1501, Anmol Enclave, Opp Pratyakshakar Bhavan, C- Vs. Patel Auto, Goregaon West, 13, Bandra Kurla Mumbai-400062. Complex, Bandra (East), Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : ADLPG0969J (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri Vishnu Agarwal/Shri Amit Agarwal Revenue by: Shri Ashok Kumar Ambastha (Sr. AR) सुनवाई की तारीख / Date of…

Sanjay Basudeo Agarwal, Mumbai vs. Income Tax Officer 25(1)(1), Bandra Kurla Complex

In the result, the appeal filed by the assessee is allowed”

Bench: Shri Pavan Kumar Gadalesanjay Basudeo Agarwal, Vs Ito, Ward - 25(1)(1), 1601, Kanchan Ganga, Kautilya Bhawan, J.P Road, Manishnagar, G- Block,Bkc, Andheri (W), Bandra Kurla Complex, Mumbai-400053. Mumbai-400051. Pan/Gir No. : Aabpa1748E Appellant .. Respondent

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Sanjay Basudeo Agarwal, Vs ITO, Ward - 25(1)(1), 1601, Kanchan Ganga, Kautilya Bhawan, J.P Road, ManishNagar, G- Block,BKC, Andheri (W), Bandra Kurla complex, Mumbai-400053. Mumbai-400051. PAN/GIR No. : AABPA1748E Appellant .. Respondent Assessee by : Shri Vimal Punmiya.AR Revenue by : Shri.UjjawalkumarChavhanSr.DR Date of Hearing 08.12.2023 Date of Pronouncement 21.12.2023 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The appeal is filed by the assessee against the order of the National Faceless Appeal Cen…

Jitendra Udaylal Jain, Mumbai vs. National Faceless Assessment Centre, Delhi

In the result, appeals filed by the assessee is allowed

Bench: Shri Narender Kumar Choudhry, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blejitendra Udaylal Jain V. National Faceless Assessment Centre(Nfac) C/O. M/S. Alankar Jewellers Shop Delhi No.1 Municipal Building R.A. Kidwai Road, Wadala Mumbai- 400037 Pan: Aabpj5480E (Appellant) (Respondent) Assessee Represented By : Shri. Vimal Punmiya Department Represented By : Shri. Ujjawal Kumar Chavan

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, HON’BLE JUDICIAL MEMBER & SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Jitendra Udaylal Jain v. National Faceless Assessment Centre(NFAC) C/o. M/s. Alankar Jewellers Shop Delhi No.1 Municipal Building R.A. Kidwai Road, Wadala Mumbai- 400037 PAN: AABPJ5480E (Appellant) (Respondent) Assessee Represented by : Shri. Vimal Punmiya Department Represented by : Shri. Ujjawal Kumar Chavan Date of conclusion of Hearing : 11.10.2023 Date of Pronouncement : 24.11.2023 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is…

Sanjay Madanraj Shah, Mumbai vs. ACIT 32(3), Mumbai

In the result, the appeal filed by the assessee is allowed

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy Ssanjay Madanrajshah, Acit – 32(3) 316, New Link Way Kautilya Bhavan, बनाम/ Estate, Near Chincholi Bkc Complex, Vs. Fire Brigade, Bandra (E), Malad (W), Mumbai-400051. Mumbai-400064. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajcps1858H (""थ" / Respondent) (अपीलाथ" /Appellant)

…ITA.No.1502/Mum/2023. Sanjay Madanraj Shah.Mumbai IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER Sanjay MadanrajShah, ACIT – 32(3) 316, New Link Way Kautilya Bhavan, बनाम/ Estate, Near Chincholi BKC Complex, Vs. Fire Brigade, Bandra (E), Malad (W), Mumbai-400051. Mumbai-400064. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AJCPS1858H (""थ" / Respondent) (अपीलाथ" /Appellant) Assessee by : Shri. Prakash Jhunjhunwala.AR Revenue by : Shri. Manoj kumar Sinha.DR सुनवाई की तारीख / Date of Hearing 08/09/2023 घोषणा की तारीख /Date of…

Vipul M Shah (HUF), Mumbai vs. ITO -17(3)(5), Mumbai

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhvipul M Shah (Huf) Vs. The Ito 17(3)(5) 404, Commerce House, Mumbai 140, N.M. Road, Fort, Maharashtra – 400001 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aabhv3153Q Appellant .. Respondent [ Appellant By : Vimal Punamiya Respondent By : Gotimukul Santosh Kumar Date Of Hearing 20.07.2023 Date Of Pronouncement 16.10.2023

…ssessee’s claim and bring on record contrary evidences to rebut the same. Until and unless this exercise is carried out, the additions could not be sustained in the eyes of law. 12. To enumerate the few, the Hon’ble Bombay High Court in CIT V/s Shyam S.Pawar (54 Taxmann.com 108 10/12/2014) declined to admit revenue’s appeal since the revenue failed to carry forward the inquiry to discharge this basic onus. The co-ordinate bench of this Tribunal in Mukesh R.Marolia V/s Addl. CIT (6 SOT 247 15/12/2005) held that personal knowledge and excitement on events should not lead the Assessing Officer to a state of affairs…

Smt . Veena Chaturvedi, Mumbai vs. DCIT Cent Cir -2(3), Mumbai

In the result, appeal of the assessee is allowed

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘F‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Smt. Veena Chaturvedi Vs. DCIT(CC)-2(3) Premises No.1 & 2 8th Floor, Room No.803 4th Floor, Shreepati Old C.G.O. Building Arcade, Pratishtha Bhawan August Kranti Marg M.K. Road Nana Chowk Mumbai – 400 020 Mumbai – 400 036 PAN/GIR No.ADCPC8995K (Appellant) .. (Respondent) Assessee by Shri Suchek Anchaliya / Ms. Vanshika Revenue by Shri Lieder Panicker Date of Hearing 16/07/2023 Date of Pronouncement 18/09/2023 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has…

Rehana Anwar Shaikh, Mumbai vs. Assessing Authority, Delhi

In the result, the appeal filed by the assessee is allowed

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Singh Karhail (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “D” Bench, Mumbai. Before Shri B.R. Baskaran (AM) & Shri Sandeep Singh Karhail (JM) I.T.A. No. 1606/Mum/2022 (A.Y. 2014-15) Vs. Assessing Authority Rehana Anwar Shaikh Room No. 1601-02 Delhi Cosmic Heights, Sector National Faceless IV, Bhakti Park, Wadala Appeal Centre East, Mumbai-400 031. Delhi PAN : AYVPS2837C (Appellant) (Respondent) Assessee by Shri Prakash Jhunjhunwala Department by Smt. Mahita Nair Date of Hearing 07.08.2023 Date of Pronouncement 31.08.2023 O R D E R Per B.R.Baskaran (AM) :- The assessee has filed this appeal challenging the order dated…

Natwar Lal Gala, Mumbai vs. CIT (A)-52, Mumbai

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon’Ble

…hares of the scrip are genuine and the CIT(A) ought to have allowed the exemption claimed in respect thereof under section 10(38) of the Act. v. Reliance is placed on the following decisions – i. Ziauddin A Siddique ITA No 2012 of 2017 (Bom) ii. Shyam R Pawar 54 Taxmann.com 108 (Bom) iii. Jamnadevi Agarwal 328 ITR 656 (Bom) iv. Renu Agarwal ITA No 44 of 2022 (Kanpur) v. In view of the above, the impugned disallowance of exemption under section 10(38) of Rs 92,40,565 in respect of the sale consideration of shares giving rise to long-term capital gains cannot be made. Similarly, addition on account of incurring exp…

Natwar Lal Gala, Mumbai vs. CIT (A)-52, Mumbai

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon’Ble

…hares of the scrip are genuine and the CIT(A) ought to have allowed the exemption claimed in respect thereof under section 10(38) of the Act. v. Reliance is placed on the following decisions – i. Ziauddin A Siddique ITA No 2012 of 2017 (Bom) ii. Shyam R Pawar 54 Taxmann.com 108 (Bom) iii. Jamnadevi Agarwal 328 ITR 656 (Bom) iv. Renu Agarwal ITA No 44 of 2022 (Kanpur) v. In view of the above, the impugned disallowance of exemption under section 10(38) of Rs 92,40,565 in respect of the sale consideration of shares giving rise to long-term capital gains cannot be made. Similarly, addition on account of incurring exp…

Natwar Lal Daga, Mumbai vs. CIT (A)-52, Mumbai

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon’Ble

…hares of the scrip are genuine and the CIT(A) ought to have allowed the exemption claimed in respect thereof under section 10(38) of the Act. v. Reliance is placed on the following decisions – i. Ziauddin A Siddique ITA No 2012 of 2017 (Bom) ii. Shyam R Pawar 54 Taxmann.com 108 (Bom) iii. Jamnadevi Agarwal 328 ITR 656 (Bom) iv. Renu Agarwal ITA No 44 of 2022 (Kanpur) v. In view of the above, the impugned disallowance of exemption under section 10(38) of Rs 92,40,565 in respect of the sale consideration of shares giving rise to long-term capital gains cannot be made. Similarly, addition on account of incurring exp…

Natwar Lal Daga, Mumbai vs. CIT (A)-52, Mumbai

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon’Ble

…hares of the scrip are genuine and the CIT(A) ought to have allowed the exemption claimed in respect thereof under section 10(38) of the Act. v. Reliance is placed on the following decisions – i. Ziauddin A Siddique ITA No 2012 of 2017 (Bom) ii. Shyam R Pawar 54 Taxmann.com 108 (Bom) iii. Jamnadevi Agarwal 328 ITR 656 (Bom) iv. Renu Agarwal ITA No 44 of 2022 (Kanpur) v. In view of the above, the impugned disallowance of exemption under section 10(38) of Rs 92,40,565 in respect of the sale consideration of shares giving rise to long-term capital gains cannot be made. Similarly, addition on account of incurring exp…

Mrs Sunita Shyam Malpani, Mumbai vs. Income Tax Officer, Ward 25(1)(3), Mumbai

In the result, the appeal filed by the assessee is allowed

Bench: Shri Pavan Kumar Gadalesunita Shyam Malpani, Vs. Ito 25(1)(3), 701,Plot No.117, Room No.703, Karanapartment, Kautilyabhavan, Lokhandwalacomplex, Bandra Bkc, Andheri (W), Mumbai-400051. Mumbai-400053. "थायी लेखा सं./जीआइआर सं.Pan/Gir No.Acppm8552J (अपीलाथ"/Applicant) (""यथ"/Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL, “SMC” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Sunita Shyam Malpani, Vs. ITO 25(1)(3), 701,Plot No.117, Room No.703, KaranApartment, KautilyaBhavan, LokhandwalaComplex, Bandra BKC, Andheri (W), Mumbai-400051. Mumbai-400053. "थायी लेखा सं./जीआइआर सं.PAN/GIR No.ACPPM8552J (अपीलाथ"/Applicant) (""यथ"/Respondent) Applicant by Mr.Ajay Singh.AR Respondent by Mr.RajendraChandekar.DR सुनवाई क" तार"ख/Date of Hearing 02.05.2023 घोषणा क" तार"ख/Date of Pronouncement 24.07 .2023 ORDER PER PAVAN KUMAR GADALE, JM: The assessee has filed the appeal against the order of…

Dy CIT Central Circle-6(3), Mumbai vs. Hiraben Khantilal Shah, Mumbai

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

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘D’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 905/Mum/2022 (A.Y. 2015-16) Vs. Disha Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : ALWPS7264B (Appellant) (Respondent) I.T.A. No. 899/Mum/2022 (A.Y. 2015-16) Vs. Bhavya Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : D…

Dy CIT Central Circle-6(3), Mumbai vs. Disha Pankaj Lshah, Mumbai

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

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘D’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 905/Mum/2022 (A.Y. 2015-16) Vs. Disha Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : ALWPS7264B (Appellant) (Respondent) I.T.A. No. 899/Mum/2022 (A.Y. 2015-16) Vs. Bhavya Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : D…

Dy CIT-Central Circle-6(2), Mumbai vs. Kantilal Ramniklal Shah, Mumbai

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

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘D’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 905/Mum/2022 (A.Y. 2015-16) Vs. Disha Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : ALWPS7264B (Appellant) (Respondent) I.T.A. No. 899/Mum/2022 (A.Y. 2015-16) Vs. Bhavya Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : D…