CIT v. Shyam R. Pawar

54 Taxmann.com 108High Court2015#282 most cited

What is CIT v. Shyam R. Pawar authority for?

Transactions involving the purchase and sale of shares cannot be considered bogus where the assessee provides documentary evidence, unless the revenue brings substantial evidence on record to reject such proof. This principle is consistently applied in cases concerning claims of bogus long-term capital gains arising from penny stock transactions.

279

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Shyam R. Pawar · 54 Taxmann.com 108 · Section 68 · Section 10(38) · bogus long term capital gain · penny stock · documentary evidence · burden of proof · evidence rejection · substantial evidence

Also reported as

229 Taxmann 256

Sections most often in play

Section 68Section 10(38)Section 143(3)Section 147Section 69CSection 148Section 131Section 133(6)

Issues it is cited on

price riggingbogus long term capital gainbogus ltcgpenny stocksection 10(38)period of holdingpreponderance of probabilitylong term capital gainscircular tradingentry operatorcolourable devicelong term capital gain

Judgments citing CIT v. Shyam R. Pawar

Kiran Bhanwarlal Jogani, Mumbai vs. ITO-5(3)(3), Mumbai

In the result, appeals filed by the assessees are allowed

ITA 2441/MUM/2022[2014-15]Status: DisposedITAT Mumbai04 Jan 2023AY 2014-15

Bench: Shri Pavan Kumar Gadalekiranbhanwarlaljogani, Vs. Ito-5(3)(3), 1101-A Wing, Pratiksha Room.No.564,5 Floor, Tower,Rs Nimkar Marg, Aayakar Bhavan, Mumbai- 400008. M.K.Road, Mumbai-400020. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acopj7976N Appellant .. Respondent Appellant By : Mr.Rajkumar Singh.Ar Respondent By : Mr.Richa Gulati.Dr Date Of Hearing 22.12.2022 Date Of Pronouncement 10.01.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm:

For Appellant: Mr.Rajkumar Singh.ARFor Respondent: Mr.Richa Gulati.DR
Section 10(38)Section 127Section 143(1)Section 143(2)Section 143(3)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER KiranBhanwarlalJogani, Vs. ITO-5(3)(3), 1101-A Wing, Pratiksha Room.no.564,5 floor, Tower,RS Nimkar Marg, Aayakar Bhavan, Mumbai- 400008. M.K.Road, Mumbai-400020. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : ACOPJ7976N Appellant .. Respondent Appellant by : Mr.Rajkumar Singh.AR Respondent by : Mr.Richa Gulati.DR Date of Hearing 22.12.2022 Date of Pronouncement 10.01.2023 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The assessee has filed the appeal against the order of the National faceless Appeal Centre (NFAC),…

Shri Pravin C. Bokadia, Mumbai vs. The Income Tax Officer, Ward-19(2)(5), Mumbai

In the result , the appeal of the assessee is allowed

ITA 736/MUM/2022[2015-16]Status: DisposedITAT Mumbai13 Dec 2022AY 2015-16
Section 10(38)Section 143(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC‘ BENCH MUMBAI SHRI M.BALAGANESH, ACCOUNTANT MEMBER SHRI PRAVIN C. Vs. THE INCOME TAX OFFICER, BOKADIA WARD- 19(2)(5) MUMBAI. 77DR. Mahimtura Matru Mandir, Room No.210, 3rd Marge, Tardeo Road, Mumbai Maharashtra Kumbharwada, Near 400007 CP Tank, Mumbai, Maharashtra 400004 PAN/GIR No. AAQPB4778E (Appellant) .. (Respondent) Assessee by Shri. Akash Kumar & Poojan Mehta Revenue by Shri. Pratap Sharma Date of Hearing 27/10/2022 Date of Pronouncement 13 /12/2022 O R D E R PER M.BALAGANESH (A.M.) : 1.This appeal in ITA No. 736/Mum/2022 preferred by the assessee arises ou…

Sankrt Shailendra Mody, Mumbai vs. Income Tax Officer 19(3) (2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1780/MUM/2022[2014-15]Status: DisposedITAT Mumbai13 Dec 2022AY 2014-15

Bench: Shri Aby T Varkey & Shri M.Balaganeshsanket Shailendra Vs. Income Tax Officer 19(3) (2) Mody Mumbai. 8/A, Navjeevan Patel, Compound, 20 Nepean Mumbai, Maharashtra 400007 Sea Road, Mumbai, Maharashtra 400006

Section 10(38)Section 143(1)Section 147Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC‘ BENCH MUMBAI BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER SANKET SHAILENDRA Vs. INCOME TAX OFFICER 19(3) (2) MODY MUMBAI. 8/A, Navjeevan Patel, Compound, 20 Nepean Mumbai, Maharashtra 400007 Sea Road, Mumbai, Maharashtra 400006 PAN/GIR No. AGIPM9686N (Appellant) .. (Respondent) Assessee by Shri. Mohan Tandan Revenue by Shri. Sambhu Yadav -Sr.DR Date of Hearing 08/12/2022 Date of Pronouncement 13/12/2022 O R D E R PER M.BALAGANESH (A.M.) : 1.This appeal in ITA No. 1780/Mum/2022 preferred by the assessee arises out of order passed…

ITO - 33(1)(1), Mumbai vs. Smt Ranjana Subhash Shinde, Mumbai

In the result , the appeal of the revenue is dismissed

ITA 102/MUM/2021[2014-15]Status: DisposedITAT Mumbai13 Dec 2022AY 2014-15
Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC‘ BENCH MUMBAI SHRI M.BALAGANESH, ACCOUNTANT MEMBER ITO- 33(1)(1) Vs. SMT. RANJANA SUBHASH SHINDE MUMBAI. MUMBAI. 9th Kautilya Bhavan, 101, 102, Pradhan House, Floor, Room No- 945, Dahanukarwadi, Kandiwali (E), BKC, Bandra(E), Mumbai, Maharashtra, 400101 Mumbai, Maharashtra, 400051 PAN/GIR No. EVSPS6147D (Appellant) .. (Respondent) Assessee by Shri. Chetan Shinde Revenue by Shri. Pratap Sharma Date of Hearing 27/10/2022 Date of Pronouncement 13/12/2022 O R D E R PER M.BALAGANESH (A.M.) : 1.This appeal in ITA No. 102/Mum/2021 preferred by the Revenue arises out of…

Dy.C.I.T. Cent. Cir-6(2), Mumbai vs. Shri Dilip B.Jiwrajka, Mumbai

In the result, the Cross Objections for AYs 2012-13 & 2013-14

ITA 2349/MUM/2021[2012-13]Status: DisposedITAT Mumbai29 Nov 2022AY 2012-13
Section 132Section 143(2)Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S. RIFAUR RAHMAN, AM आयकर अपील सं/ I.T.A. No.2349/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT, Central Circle-6(2) बिधम/ Shri Dilip B. Jiwrajka Room No. 1903, 19th Floor, 15th Floor Orbit Villa, 16, Vs. Air India Building, Nariman Darabsha Lane, Off Point, Mumbai-400021. Neapeansea Road, Mumbai-400036. Cross Objection No. 93/Mum/2022 Arising out of I.T.A. No.2349/Mum/2021 (निर्धारण वर्ा / Assessment Years: 2012-13) Shri Dilip B. Jiwrajka बिधम/ DCIT, Central Circle-6(2) 15th Floor Orbit Villa, 16, Room No. 19…

Sangeeta Nawal Agarwal, Mumbai vs. National Faceless Appeal Centre, Delhi

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

ITA 1806/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Nov 2022AY 2014-15

Bench: The Tribunal.

Section 68

…as also held that the capital gains cannot be assessed under section 68 of the I.T. Act when the transactions are genuine. In this regard he placed his reliance on the decision rendered by Hon'ble Bombay High Court in the case of CIT Vs. Shyam R. Pawar (2015) 54 Taxmann.com 108 and also decision rendered in the case of CIT Vs. Mukesh Ratilal Marolia (ITA No. 456/2007. He also submitted that the shares of this company are held by the financial institution and also by the Central Government, which fact also disproves the view of the investigation wing that it is a penny stock. Since the transactions are genuine, th…

Income Tax Officer 33(1)(4), Mumbai vs. Dheeraj Babulal Shah, Mumbai

In the result, the appeals filed by the revenue are dismissed

ITA 4272/MUM/2018[2014-15]Status: DisposedITAT Mumbai14 Oct 2022AY 2014-15

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. Nos. 4272/Mum/2018 (निर्धारण वर्ा / Assessment Years: 2014-15) & आयकर अपील सं/ I.T.A. Nos. 4092/Mum/2019 (निर्धारण वर्ा / Assessment Years: 2015-16) बिधम/ Ito-33(1)(4) Dheeraj Babulal Shah Room No. 708, 7Th Floor, 23/A-12, Akash Chsl, Vs. Bldg. No. C-12, Jalawal Nagar, Ashok Nagar, Pratyakshakar Bhavan, Kandivali (E), Mumbai- Bandra Kurla Complex, 400101. Bandra (E), Mumbai- 400051. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Arwps1458D (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Smt. Mahita Nair (Sr. Ar) Assessee By: Shri Rajkumar Singh सुनवाई की तारीख / Date Of Hearing: 19/07/2022 घोषणा की तारीख /Date Of Pronouncement: 14/10/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Appeals Are Preferred By The Revenue Against The Orders Of The Ld. Cit(A)-45, Mumbai, Dated 29.03.2018 For A.Y.2014-15 & Dated 12.03.2019 For Ay. 2015-16 Respectively.

For Appellant: Shri Rajkumar SinghFor Respondent: Smt. Mahita Nair (Sr. AR)
Section 10(38)Section 131Section 133ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI GAGAN GOYAL, AM आयकर अपील सं/ I.T.A. Nos. 4272/Mum/2018 (निर्धारण वर्ा / Assessment Years: 2014-15) & आयकर अपील सं/ I.T.A. Nos. 4092/Mum/2019 (निर्धारण वर्ा / Assessment Years: 2015-16) बिधम/ ITO-33(1)(4) Dheeraj Babulal Shah Room No. 708, 7th Floor, 23/A-12, Akash CHSL, Vs. Bldg. No. C-12, Jalawal Nagar, Ashok Nagar, Pratyakshakar Bhavan, Kandivali (E), Mumbai- Bandra Kurla Complex, 400101. Bandra (E), Mumbai- 400051. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : ARWPS1458D (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Re…

Heena Suresh Jain, Mumbai vs. ITO 19 (1)(5), Mumbai

In the result, appeals filed by the assessees are allowed

ITA 6617/MUM/2019[2014-15]Status: DisposedITAT Mumbai21 Sept 2022AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon’Blesuresh M. Jain Huf V. Ito-19(3)(4), 52A Nanu Bhai Desai Road 2Nd Floor, Matru Mandir Tardeo Road, Mumbai-400007 Mulji Thakersi Building 2Nd Floor, Mumbai-400004 Pan: Aalhs7460R (Appellant) (Respondent) Heena Suresh Jain V.

For Appellant: Shri. Rajkumar SinghFor Respondent: Shri. Vaibhav Jain
Section 139(1)Section 143(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND MS. KAVITHA RAJAGOPAL, HON’BLE JUDICIAL MEMBER Suresh M. Jain HUF v. ITO-19(3)(4), 52A Nanu Bhai Desai Road 2nd Floor, Matru Mandir Tardeo Road, Mumbai-400007 Mulji Thakersi Building 2nd Floor, Mumbai-400004 PAN: AALHS7460R (Appellant) (Respondent) Heena Suresh Jain v. ITA-19(3)(5) 52A, 2nd, Nanubhai Desai Road 2nd Floor, Matru Mandir Mumbai-400004 Tardeo Road, Mumbai-400007 PAN: AEJPJ2380P (Appellant) (Respondent) Rameshkumar Mohanlal Jain v. ITO-19(3)(1) Flat No. 1603, 16th Floor 2nd Floor, Matru…

Suresh M Jain HUF, Mumbai vs. ITO 19 (3)(4), Mumbai

In the result, appeals filed by the assessees are allowed

ITA 6614/MUM/2019[2014-15]Status: DisposedITAT Mumbai21 Sept 2022AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon’Blesuresh M. Jain Huf V. Ito-19(3)(4), 52A Nanu Bhai Desai Road 2Nd Floor, Matru Mandir Tardeo Road, Mumbai-400007 Mulji Thakersi Building 2Nd Floor, Mumbai-400004 Pan: Aalhs7460R (Appellant) (Respondent) Heena Suresh Jain V.

For Appellant: Shri. Rajkumar SinghFor Respondent: Shri. Vaibhav Jain
Section 139(1)Section 143(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND MS. KAVITHA RAJAGOPAL, HON’BLE JUDICIAL MEMBER Suresh M. Jain HUF v. ITO-19(3)(4), 52A Nanu Bhai Desai Road 2nd Floor, Matru Mandir Tardeo Road, Mumbai-400007 Mulji Thakersi Building 2nd Floor, Mumbai-400004 PAN: AALHS7460R (Appellant) (Respondent) Heena Suresh Jain v. ITA-19(3)(5) 52A, 2nd, Nanubhai Desai Road 2nd Floor, Matru Mandir Mumbai-400004 Tardeo Road, Mumbai-400007 PAN: AEJPJ2380P (Appellant) (Respondent) Rameshkumar Mohanlal Jain v. ITO-19(3)(1) Flat No. 1603, 16th Floor 2nd Floor, Matru…

Sangeeta Basavraj Mangrule, Aurangabad vs. Assistant Commissioner of Income-Tax, Circle - 2, Aurangabad

Appeal is dismissed in above terms

ITA 706/PUN/2019[2015-16]Status: DisposedITAT Pune11 Aug 2022AY 2015-16
For Appellant: NoneFor Respondent: Shri M.G. Jasnani
Section 10(38)Section 131Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, PUNE SINGLE MEMBER CASE SHRI S.S. GODARA, JUDICIAL MEMBER ITA No. 706/PUN/2019 : Assessment Year : 2015-16 Sangeeta B. Mangrule Plot No. 64, Mayurban Colony, Shahnoorwadi Darga Road, Aurangabad PAN: AJIPM 9153 H :Appellant Vs. The Asstt. CIT Cir. 2, Aurangabad : Respondent Appellant by : None Respondent by : Shri M.G. Jasnani Date of Hearing : 28-07-2022 Date of Pronouncement : 11-08-2022 ORDER This assessee’s appeal for A.Y. 2015-16 arises against the CIT(A)- 2, Aurangabad’s order dated 07-02-2019 passed in case No. ABD/CIT(A)- 2/461/2017-18, involving proceedings u/s 143…

Sarita Dudheria, Bangalore vs. Deputy Commissioner of Income Tax, Circle- 1(1)(2), Bangalore

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

ITA 382/BANG/2020[2015-16]Status: DisposedITAT Bangalore15 Mar 2022AY 2015-16

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri K.R. Pradeep & Ms. Girija
Section 10(38)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 380 to 382/Bang/2020 Assessment Years : 2013-14 to 2015-16 Ms. Sarita Dudheria, The Assistant 66, Navniketan, Commissioner of K.R. Road, Income Tax, Basavanagudi, Central Circle – 1(2), Bangalore – 560004. Vs. Bangalore. PAN: AFWPD9619P APPELLANT RESPONDENT : Shri K.R. Pradeep & Ms. Girija, Assessee by Advocates : Shri Priyadarshi Mishra, Addl. Revenue by CIT (DR) Date of Hearing : 15-03-2022 Date of Pronouncement : 15-03-2022 ORDER PER BEENA PILLAI, JUDICIAL M…

Sarita Dudheria, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 1(2), Bangalore

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

ITA 381/BANG/2020[2014-15]Status: DisposedITAT Bangalore15 Mar 2022AY 2014-15

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri K.R. Pradeep & Ms. Girija
Section 10(38)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 380 to 382/Bang/2020 Assessment Years : 2013-14 to 2015-16 Ms. Sarita Dudheria, The Assistant 66, Navniketan, Commissioner of K.R. Road, Income Tax, Basavanagudi, Central Circle – 1(2), Bangalore – 560004. Vs. Bangalore. PAN: AFWPD9619P APPELLANT RESPONDENT : Shri K.R. Pradeep & Ms. Girija, Assessee by Advocates : Shri Priyadarshi Mishra, Addl. Revenue by CIT (DR) Date of Hearing : 15-03-2022 Date of Pronouncement : 15-03-2022 ORDER PER BEENA PILLAI, JUDICIAL M…

Sarita Dudheria, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 1(2), Bangalore

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

ITA 380/BANG/2020[2013-14]Status: DisposedITAT Bangalore15 Mar 2022AY 2013-14

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri K.R. Pradeep & Ms. Girija
Section 10(38)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 380 to 382/Bang/2020 Assessment Years : 2013-14 to 2015-16 Ms. Sarita Dudheria, The Assistant 66, Navniketan, Commissioner of K.R. Road, Income Tax, Basavanagudi, Central Circle – 1(2), Bangalore – 560004. Vs. Bangalore. PAN: AFWPD9619P APPELLANT RESPONDENT : Shri K.R. Pradeep & Ms. Girija, Assessee by Advocates : Shri Priyadarshi Mishra, Addl. Revenue by CIT (DR) Date of Hearing : 15-03-2022 Date of Pronouncement : 15-03-2022 ORDER PER BEENA PILLAI, JUDICIAL M…

Snehalatha Singhi, Bangalore vs. Deputy Commissioner of Income Tax, Circle-1(1)(2), Bangalore

In the result assessee’s appeal stands allowed for statistical purposes

ITA 3153/BANG/2018[2014-15]Status: DisposedITAT Bangalore15 Mar 2022AY 2014-15

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2014-15 Smt. Snehalatha Singhi, The Deputy Flat No. 101, Commissioner Of Pride Elite, Income Tax, No. 10, Museum Road, Circle – 1 (1)(2), Bangalore – 560 001. Vs. Bangalore. Pan: Ajmps0427Q Appellant Respondent : Shri K.R. Pradeep & Ms. Girija, Assessee By Advocates : Shri Priyadarshi Mishra, Addl. Revenue By Cit (Dr) Date Of Hearing : 15-03-2022 Date Of Pronouncement : 15-03-2022 Order Per Beena Pillaipresent Appeal Has Been Filed By Assessee Against Order Dated 10.08.2018 Passed By Ld.Cit(A)-1, Bangalore For Assessment Year 2014-15. 2. Brief Facts Of The Case Are As Under: The Assessee Is An Individual & Filed His Return Of Income On 31/03/2015 For Year Under Consideration Declaring Total Income Of Rs.1,31,57,680/-. Ld.Ao Observed That Assessee Has Claimed Exemption Under Section 10(38) Amounting To Rs.3,10,94,952/- Towards Sale Of Equity Shares. The Case Was Selected For Scrutiny

For Respondent: Shri K.R. Pradeep & Ms. Girija
Section 10(38)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2014-15 Smt. Snehalatha Singhi, The Deputy Flat No. 101, Commissioner of Pride Elite, Income Tax, No. 10, Museum Road, Circle – 1 (1)(2), Bangalore – 560 001. Vs. Bangalore. PAN: AJMPS0427Q APPELLANT RESPONDENT : Shri K.R. Pradeep & Ms. Girija, Assessee by Advocates : Shri Priyadarshi Mishra, Addl. Revenue by CIT (DR) Date of Hearing : 15-03-2022 Date of Pronouncement : 15-03-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal has been filed by…

Deepak Valji Karia, Mumbai vs. ITO - 28(1)(3), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 259/MUM/2021[2015-16]Status: DisposedITAT Mumbai10 Mar 2022AY 2015-16

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Bleshri Deepak Valji Karia V. Income Tax Officer – 28(1)(3) Flat No. 2501, B Wing Room No. 327 Maroj Palm Paradise Tower No. 6, 3Rd Floor Palm Beach Road, Sector 17 Vashi Railway Station Building Complex Vashi, Navi Mumbai-400703 Sanpada, Navi Mumbai 400705 Pan: Ahfpk2679F (Appellant) (Respondent) Assessee By : Ms. Dinkle Hariya Department By Shri Sanjeev Kashyp

For Appellant: Ms. Dinkle Hariya
Section 10(38)Section 131Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “D” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER Shri Deepak Valji Karia v. Income Tax Officer – 28(1)(3) Flat No. 2501, B Wing Room No. 327 Maroj Palm Paradise Tower No. 6, 3rd Floor Palm Beach Road, Sector 17 Vashi Railway Station Building Complex Vashi, Navi Mumbai-400703 Sanpada, Navi Mumbai 400705 PAN: AHFPK2679F (Appellant) (Respondent) Assessee by : Ms. Dinkle Hariya Department by Shri Sanjeev Kashyp Date of Hearing : 10.02.2022 Date of Pronouncement : 10.03.2022 O R D E R PER S.…

ITO -32(2)(1), Mumbai vs. M/S. Liberal Realtors Limited Liability Partnership, Mumbai

In the result, appeal of the Revenue for A

ITA 450/MUM/2021[2015-16]Status: DisposedITAT Mumbai17 Jan 2022AY 2015-16
Section 10(38)Section 143(3)Section 68Section 69C

…No.2281/Kol/2017 dated 20/07/2018. d) Decision of Hon’ble Jurisdictional High Court in the case of CIT vs. Mukesh Ratilal Marolia in ITA No.456 of 2007 dated 07/09/2011. e) Decision of Hon’ble Jurisdictional High Court in the case of Shyam R Pawar reported in 54 Taxmann.com 108. f) Decision of Mumbai Tribunal in the case of Ms. Farrah Markar vs. ITO in ITA No.3801/Mum/2011 dated 27/04/2016. g) Decision of Mumbai Tribunal in the case of ITO vs. Indravadan Jain HUF and ACIT vs. Indravadan Jain in ITA Nos. 4861 and 5168/Mum/2014 dated 27/05/2016. M/s. Liberal Realtors Limited Liability Partnership 2.8. It was pointe…

Smt. Sarita Lodha, Mumbai vs. The Dy CIT-CC-4(4), Mumbai

In the result, appeals filed by the assessees are partly allowed

ITA 237/MUM/2021[2016-17]Status: DisposedITAT Mumbai05 Jan 2022AY 2016-17

Bench: Shri Mahavir Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Respondent: Shri Rakesh Garg
Section 10(38)Section 132Section 143(3)

…o. No. 7648/Mum/2019 decided on 11.08.2020 (ii). Smt Anjana Sandeep Rathi, Thane Vs ACIT, Circle-1, Thane (ITA No. 4369/Mum/2018) decided on 20.072020 (iii). Principle CIT-12, Vs Krishna Devi (ITA No. 125/2020) (Delhi HC) (iv). CIT-13 Vs Shyam R. Pawar (2015) 229 Taxmann 256 (Bombay HC) (v). Madhu Killa Vs. ACIT, Kolkata (ITA No. 834/Kol/2018) decided on 02.11.2018 (vi). CIT Vs Jamnadevi Agarawal (2010) 328 ITR 656 (Bom HC) (vii). CIT Vs Mukesh Marolia Bom (ITA No. 456 of 2007 Decided on 07.09.2011 22. The Ld. AR further submitted that during the course of search proceedings, no incriminating material was unearth…

Smt. Sarita Lodha, Mumbai vs. The Dy CIT, Central Circle-4(4), Mumbai

In the result, appeals filed by the assessees are partly allowed

ITA 236/MUM/2021[2010-11]Status: DisposedITAT Mumbai05 Jan 2022AY 2010-11

Bench: Shri Mahavir Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Respondent: Shri Rakesh Garg
Section 10(38)Section 132Section 143(3)

…o. No. 7648/Mum/2019 decided on 11.08.2020 (ii). Smt Anjana Sandeep Rathi, Thane Vs ACIT, Circle-1, Thane (ITA No. 4369/Mum/2018) decided on 20.072020 (iii). Principle CIT-12, Vs Krishna Devi (ITA No. 125/2020) (Delhi HC) (iv). CIT-13 Vs Shyam R. Pawar (2015) 229 Taxmann 256 (Bombay HC) (v). Madhu Killa Vs. ACIT, Kolkata (ITA No. 834/Kol/2018) decided on 02.11.2018 (vi). CIT Vs Jamnadevi Agarawal (2010) 328 ITR 656 (Bom HC) (vii). CIT Vs Mukesh Marolia Bom (ITA No. 456 of 2007 Decided on 07.09.2011 22. The Ld. AR further submitted that during the course of search proceedings, no incriminating material was unearth…

Shri. Shripal Raj Lodha, Mumbai vs. The Dy CIT-CC-4(4), Mumbai

In the result, appeals filed by the assessees are partly allowed

ITA 1336/MUM/2021[2011-12]Status: DisposedITAT Mumbai05 Jan 2022AY 2011-12

Bench: Shri Mahavir Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Respondent: Shri Rakesh Garg
Section 10(38)Section 132Section 143(3)

…o. No. 7648/Mum/2019 decided on 11.08.2020 (ii). Smt Anjana Sandeep Rathi, Thane Vs ACIT, Circle-1, Thane (ITA No. 4369/Mum/2018) decided on 20.072020 (iii). Principle CIT-12, Vs Krishna Devi (ITA No. 125/2020) (Delhi HC) (iv). CIT-13 Vs Shyam R. Pawar (2015) 229 Taxmann 256 (Bombay HC) (v). Madhu Killa Vs. ACIT, Kolkata (ITA No. 834/Kol/2018) decided on 02.11.2018 (vi). CIT Vs Jamnadevi Agarawal (2010) 328 ITR 656 (Bom HC) (vii). CIT Vs Mukesh Marolia Bom (ITA No. 456 of 2007 Decided on 07.09.2011 22. The Ld. AR further submitted that during the course of search proceedings, no incriminating material was unearth…

Smt. Shruti Lodha, Mumbai vs. Asst CIT CC 4(4), Mumbai

In the result, appeals filed by the assessees are partly allowed

ITA 621/MUM/2020[2014-15]Status: DisposedITAT Mumbai05 Jan 2022AY 2014-15

Bench: Shri Mahavir Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Respondent: Shri Rakesh Garg
Section 10(38)Section 132Section 143(3)

…o. No. 7648/Mum/2019 decided on 11.08.2020 (ii). Smt Anjana Sandeep Rathi, Thane Vs ACIT, Circle-1, Thane (ITA No. 4369/Mum/2018) decided on 20.072020 (iii). Principle CIT-12, Vs Krishna Devi (ITA No. 125/2020) (Delhi HC) (iv). CIT-13 Vs Shyam R. Pawar (2015) 229 Taxmann 256 (Bombay HC) (v). Madhu Killa Vs. ACIT, Kolkata (ITA No. 834/Kol/2018) decided on 02.11.2018 (vi). CIT Vs Jamnadevi Agarawal (2010) 328 ITR 656 (Bom HC) (vii). CIT Vs Mukesh Marolia Bom (ITA No. 456 of 2007 Decided on 07.09.2011 22. The Ld. AR further submitted that during the course of search proceedings, no incriminating material was unearth…