Free India Assurance Services Ltd. v. DCIT

132 ITD 60Income Tax Appellate Tribunal2011#5615 most cited

What is Free India Assurance Services Ltd. v. DCIT authority for?

Purchases made through banking channels are not necessarily bogus if the assessee has a high gross profit ratio, even if suppliers are listed as hawala dealers or cannot be produced.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Free India Assurance Services Ltd. v. DCIT · section 40A(3) · bogus purchases · banking channels · hawala dealers · gross profit ratio

Also reported as

62 DTR 34912 Taxmann.com 424

Issues it is cited on

permanent account numbersection 48section 145section 133section 69csection 133(6)notice under section 148reassessment proceedingsundisclosed incomesection 69section 13section 148

Judgments citing Free India Assurance Services Ltd. v. DCIT

Shital Vipulkumar Dholakia, Ahmedabad vs. The Income Tax Officer, Ward-1(1)(3), Ahmedabad

ITA 259/AHD/2024[2021-22]Status: DisposedITAT Ahmedabad31 Jul 2025AY 2021-22

Bench: Ms.Suchitra R. Kamble & Shri Makarand V.Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. Advocate andFor Respondent: Shri Sher Singh, CIT-DR
Section 133(6)Section 142(1)Section 143(3)Section 144BSection 250Section 40A(3)

…the decisions in: i. ii. Sharma Associates v. ACIT (1995) 55 ITD 171 (Pune) (TM); Rajmal Lakhichand v. ACIT (2001) 79 ITD 84 (Pune); iii. iv. Western India Bakers Pvt. Ltd. v. DCIT (2003) 87 ITD 607 (Mumbai); Free India Assurance Services Ltd. v. DCIT (2011) 132 ITD 60 (Mumbai). Where it was decided that the provisions of section 40A(3) can be applied only in cases where an assessee in fact incurs an expenditure but violates the mandate of section 40A(3). However, the genuineness of the expenditure had never been in doubt. The AR accordingly prayed that the entire disallowance be deleted in the interest of justi…

ACIT 26 (2), Mumbai vs. Perfect Garments Processors, Mumbai

In the result, for ay 2009-10 appeal of the learned

ITA 6591/MUM/2019[2009-10]Status: DisposedITAT Mumbai25 Mar 2022AY 2009-10

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri RA Dhyani, DRFor Respondent: Shri Vimal Punmiya, AR
Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 6590/Mum/2019 (Assessment Year 2010-11) The Asst. Commissioner Of Perfect Garments Processors Income Tax- 26(2), 1, Mansukh Comp, Kanjur Room No. 320, 3rd Floor, Village Road, Opp. Nitco Vs. Kautilya Bhawan, B.K.C. Marble Land, Kanjur (East), Bandra (E), Mumbai-400 051 Mumbai-400 042 (Appellant) (Respondent) ITA No. 6579/Mum/2019 (Assessment Year 2010-11) Perfect Garments Processors The Asst. Commissioner Of 1, Mansukh Comp, Kanjur Income Tax- 26(2), Room No. 320, 3rd Floor, Village…

ACIT 26 (2), Mumbai vs. Perfect Garments Processors, Mumbai

In the result, for ay 2009-10 appeal of the learned

ITA 6590/MUM/2019[2010-11]Status: DisposedITAT Mumbai25 Mar 2022AY 2010-11

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri RA Dhyani, DRFor Respondent: Shri Vimal Punmiya, AR
Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 6590/Mum/2019 (Assessment Year 2010-11) The Asst. Commissioner Of Perfect Garments Processors Income Tax- 26(2), 1, Mansukh Comp, Kanjur Room No. 320, 3rd Floor, Village Road, Opp. Nitco Vs. Kautilya Bhawan, B.K.C. Marble Land, Kanjur (East), Bandra (E), Mumbai-400 051 Mumbai-400 042 (Appellant) (Respondent) ITA No. 6579/Mum/2019 (Assessment Year 2010-11) Perfect Garments Processors The Asst. Commissioner Of 1, Mansukh Comp, Kanjur Income Tax- 26(2), Room No. 320, 3rd Floor, Village…

Perfect Garments Processors, Mumbai vs. ITO 29 (2)(5), Mumbai

In the result, for ay 2009-10 appeal of the learned

ITA 6580/MUM/2019[2009-10]Status: DisposedITAT Mumbai25 Mar 2022AY 2009-10

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri RA Dhyani, DRFor Respondent: Shri Vimal Punmiya, AR
Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 6590/Mum/2019 (Assessment Year 2010-11) The Asst. Commissioner Of Perfect Garments Processors Income Tax- 26(2), 1, Mansukh Comp, Kanjur Room No. 320, 3rd Floor, Village Road, Opp. Nitco Vs. Kautilya Bhawan, B.K.C. Marble Land, Kanjur (East), Bandra (E), Mumbai-400 051 Mumbai-400 042 (Appellant) (Respondent) ITA No. 6579/Mum/2019 (Assessment Year 2010-11) Perfect Garments Processors The Asst. Commissioner Of 1, Mansukh Comp, Kanjur Income Tax- 26(2), Room No. 320, 3rd Floor, Village…

Perfect Garment Processors, Mumbai vs. ITO 29(2)(5), Mumbai

In the result, for ay 2009-10 appeal of the learned

ITA 6579/MUM/2019[2010-11]Status: DisposedITAT Mumbai25 Mar 2022AY 2010-11

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri RA Dhyani, DRFor Respondent: Shri Vimal Punmiya, AR
Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 6590/Mum/2019 (Assessment Year 2010-11) The Asst. Commissioner Of Perfect Garments Processors Income Tax- 26(2), 1, Mansukh Comp, Kanjur Room No. 320, 3rd Floor, Village Road, Opp. Nitco Vs. Kautilya Bhawan, B.K.C. Marble Land, Kanjur (East), Bandra (E), Mumbai-400 051 Mumbai-400 042 (Appellant) (Respondent) ITA No. 6579/Mum/2019 (Assessment Year 2010-11) Perfect Garments Processors The Asst. Commissioner Of 1, Mansukh Comp, Kanjur Income Tax- 26(2), Room No. 320, 3rd Floor, Village…

ACIT-4(2)(1), Mumbai vs. M/S.Vgc Diamond Private Limited, Mumbai

The appeal of the assessee is allowed, and appeal of the Assessing Officer is dismissed

ITA 7004/MUM/2017[2014-15]Status: DisposedITAT Mumbai08 Jul 2020AY 2014-15

Bench: Shri Pawan Singh, Jm& Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 7004/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2014-15)

For Appellant: Mrs. SamathaFor Respondent: Shri Vimal Punamiya, AR
Section 133(6)Section 143(2)Section 143(3)Section 271(1)(c)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JM& SHRI S. RIFAUR RAHMAN, AM आयकरअपीलसं./ I.T.A. No. 7004/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2014-15) M/s VGC Diamond Pvt. ACIT 4(2)(1) Ltd. 6th floor, Room no. 642, बिधम/ 308/382, 1st floor, NNS Aayakar Bhavan, M. K. Building, Chira Bazar, Vs. Road, Mumbai-400 020 Kalabadevi, Mumbai-400 002 स्थायीलेखासं./जीआइआरसं./PAN No. AACCV5319C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Mrs. Samatha Mullamudi,DR by प्रत्यथीकीओरसे/Respondentby : Shri Vimal Punamiya, AR सुनवाईकीतारीख/ : 20.02.2020 Date of Hea…

Puneet Sahdev, Jammu vs. The Income Tax Officer, Jammu

ITA 579/ASR/2016[2009-10]Status: DisposedITAT Amritsar30 Jun 2020AY 2009-10

Bench: Shri L. P. Sahu & Shri Ravish Sood

For Appellant: Shri P.N Arora, A.R)For Respondent: Shri M.P Singh, CIT D.R
Section 143(3)Section 271(1)(c)Section 68

…ce of an amount of Rs. 41,62,600/- made u/s 40A(3) by the A.O cannot be sustained and is liable to be vacated. Our aforesaid view is fortified by the order of a coordinate bench of the Tribunal in the case of Free India Assurance Services Ltd. Vs. DCIT (2011) 132 ITD 60 (Mum). In the said case, it was observed by the Tribunal that disallowance cannot be made merely on the basis of a presumption that the assessee had made the purchases by way of cash from the grey market in violation of the provisions of Sec. 40A(3) of the Act. Further, we find that the ITAT, Pune in the case of Rajmal Lakhichand vs. Asstt. CIT (2…

Income Tax Officer, Jammu vs. Sh. Puneet Sehdev, Prop., Jammu

ITA 547/ASR/2016[2009-10]Status: DisposedITAT Amritsar30 Jun 2020AY 2009-10

Bench: Shri L. P. Sahu & Shri Ravish Sood

For Appellant: Shri P.N Arora, A.R)For Respondent: Shri M.P Singh, CIT D.R
Section 143(3)Section 271(1)(c)Section 68

…ce of an amount of Rs. 41,62,600/- made u/s 40A(3) by the A.O cannot be sustained and is liable to be vacated. Our aforesaid view is fortified by the order of a coordinate bench of the Tribunal in the case of Free India Assurance Services Ltd. Vs. DCIT (2011) 132 ITD 60 (Mum). In the said case, it was observed by the Tribunal that disallowance cannot be made merely on the basis of a presumption that the assessee had made the purchases by way of cash from the grey market in violation of the provisions of Sec. 40A(3) of the Act. Further, we find that the ITAT, Pune in the case of Rajmal Lakhichand vs. Asstt. CIT (2…

Sh. Puneet Sehdev Prop, Jammu vs. The Income-Tax Officer, Jammu

ITA 305/ASR/2015[2008-09]Status: DisposedITAT Amritsar30 Jun 2020AY 2008-09

Bench: Shri L. P. Sahu & Shri Ravish Sood

For Appellant: Shri P.N Arora, A.R)For Respondent: Shri M.P Singh, CIT D.R
Section 143(3)Section 271(1)(c)Section 68

…ce of an amount of Rs. 41,62,600/- made u/s 40A(3) by the A.O cannot be sustained and is liable to be vacated. Our aforesaid view is fortified by the order of a coordinate bench of the Tribunal in the case of Free India Assurance Services Ltd. Vs. DCIT (2011) 132 ITD 60 (Mum). In the said case, it was observed by the Tribunal that disallowance cannot be made merely on the basis of a presumption that the assessee had made the purchases by way of cash from the grey market in violation of the provisions of Sec. 40A(3) of the Act. Further, we find that the ITAT, Pune in the case of Rajmal Lakhichand vs. Asstt. CIT (2…

Sh. Puneet Sehdev Prop;, Jammu vs. The Income-Tax Officer, Jammu

ITA 5/ASR/2013[2009-10]Status: DisposedITAT Amritsar30 Jun 2020AY 2009-10

Bench: Shri L. P. Sahu & Shri Ravish Sood

For Appellant: Shri P.N Arora, A.R)For Respondent: Shri M.P Singh, CIT D.R
Section 143(3)Section 271(1)(c)Section 68

…ce of an amount of Rs. 41,62,600/- made u/s 40A(3) by the A.O cannot be sustained and is liable to be vacated. Our aforesaid view is fortified by the order of a coordinate bench of the Tribunal in the case of Free India Assurance Services Ltd. Vs. DCIT (2011) 132 ITD 60 (Mum). In the said case, it was observed by the Tribunal that disallowance cannot be made merely on the basis of a presumption that the assessee had made the purchases by way of cash from the grey market in violation of the provisions of Sec. 40A(3) of the Act. Further, we find that the ITAT, Pune in the case of Rajmal Lakhichand vs. Asstt. CIT (2…

ACIT, Circle-33(1) vs. Alps International

In the result, the appeal of the Revenue is partly allowed for statistical purposes

ITA 4709/DEL/2003[2001-2002]Status: DisposedITAT Delhi09 Jan 2019AY 2001-2002

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2001-02 Acit, Vs. M/S. Alps International, Circle-33(1), New Delhi 16/11, Iind Floor, R.D. Chamber, Karol Bagh, New Delhi Pan :Aaafa5155A (Appellant) (Respondent) Appellant By Ms. Rinku Singh, Sr.Dr Respondent By Shri Rohit Jain, Adv.; Ms. Deepashree Rao, Ca; & Sh. Vibhu Gupta, Ca

Section 40A(3)Section 69BSection 80H

…0A(3) of the Act on account of alleged cash purchases, without any supporting document, is illegal and bad in law, as has been held in the following decisions: - CIT. v. Ratanlal Vyaparilal Jain: 339 ITR 351 (Guj) - Free India Assurance Services Ltd. v. DCIT: 132 ITD 60 (Mum - ITO v. Nardev Kumar Gupta: ITA No. 829/Jp/2012 (Jaip) " Similarly, addition made by the AO on account of profit from alleged cash sales outside the books of accounts, without any supporting document, is illegal and bad in law, as has been held in the following decisions: " - CIT vs Sethia Plastic Industries: 206 CTR 484 (Del) - ITO vs. Hima…

DCIT Cir 6(3)(1), Mumbai vs. Faco Fastners P.Ltd, Mumbai

In the result, appeal of the revenue is allowed in part

ITA 1641/MUM/2017[2010-11]Status: DisposedITAT Mumbai26 Oct 2017AY 2010-11

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Dcit Cir 6(3)(1) Vs. M/S. Faco Fastners Pvt. R.No.506, 5Th Floor, Aayakar Ltd., Bhavan 196, Mutton Street M.K.Road, Mumbai – 400 Null Bazar, 020 Mumbai – 400 003 Pan/Gir No. Aabcf2490D Appellant) .. Respondent)

Section 143(3)Section 69C

…013 dt.5.11.2014. 22. West Coast Paper Mills Vs.JCIT[100 TTJ 833(Mum)] 23. ITO Vs. A.CExport[13DTR98(Mum) 24. Unitex Products [22 SOT 429(Mum)], • 25. Teletronics Dealing System Pvt. Ltd. 53 Taxmann.com20(Mum)]. 26. Free India Assurance Services Ltd. Vs. DCIT(132 ITD 60) Mumbai Tribunal. 27. Balaji Textiles Industries Pvt. Ltd.[49 ITD 177 (Mum).] Therefore, since the facts and circumstances of the appellant’s case here is identical to the above mentioned judicial orders, Ground of Appeal No.2 is allowed. 6. Revenue is in appeal before us. 7. We have considered rival contentions and found that the entire addition…

ITO 6(3)(3), Mumbai vs. Jostars Orogotech P.Ltd, Mumbai

In the result, this appeal by the Revenue stands partly allowed and cross objection by the assessee stands dismissed

ITA 1288/MUM/2017[2009-10]Status: DisposedITAT Mumbai03 Oct 2017AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Shaktijit Dey, Jm

For Appellant: Shri J.P.BairagraFor Respondent: Shri Purushottam Kumar
Section 133(6)Section 143(3)Section 147Section 69

…dt.5.11.2014. 22. West Coast Paper Mills Vs.JCIT[100 TT] 833(Mum)] 23. ITO Vs.A.C Export[13 DTR 98(Mum)]. 24. Unitex Products [22 SOT 429(Mum)]. 25. Teletronics Dealing System Pvt. Ltd. [53 Taxmann.com20(Mum)]. 26. Free India Assurance Services Ltd. Vs. DCIT(132 ITD 60) Mumbai Tribunal. 27. Balaji Textiles Industries Pvt. Ltd.[49 ITD 177 (Mum).] Therefore, since the facts and circumstances of the appellant’s case here is identical to the abovementioned judicial orders, Grounds of appeal No.2 to 4 are allowed.” 10. Against the above order, Revenue has filed appeal and assessee has filed cross objection. 11. We…

Asst CIT Cir 6(2)(2), Mumbai vs. Exim Trade Links (India) P.Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 1672/MUM/2017[2009-10]Status: DisposedITAT Mumbai20 Sept 2017AY 2009-10

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Asst. Cit Cir 6 (2)(2) Vs. M/S. Exim Trade Links R.No.563, Aayakar Bhavan (India) P. Ltd., M.K. Road, Churchgate 31/33, Nishanpada, Dongri Mumbai – 400 020 Mumbai – 400 009 Pan/Gir No. Aaace8448B Appellant) .. Respondent)

Section 143(3)Section 69C

…/2013 dt.5.11.2014. 22. West Coast Paper Mills Vs.JCIT[100 TTJ 833(Mum)] 23. ITOVs.A.CExport[13DTR98(Mum) 24. Unitex Products [22 SOT 429(Mum)], • 25. Teletronics Dealing System Pvt, Ltd. 53 Taxmann.com20(Mum)]. 26. Free India Assurance Services Ltd. Vs. DCIT(132 ITD 60) Mumbai Tribunal. 27. Balaji Textiles Industries Pvt. Ltd.[49 ITD 177 (Mum).] Perusal of the appellant's written submission shows that the appellant has stated in Para 4 Page 9 as under;- "The appellant would also like to submit that at, per order u/s.l43(3) r.w.s.147 of the Income Tax Act, 1961 for A.Y. 2008-2009, the Ld. AO. has disallowed on al…

DCIT 25(1), Mumbai vs. Sanjay Hirachand Dhokad, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be Dismissed

ITA 5243/MUM/2013[2010-11]Status: DisposedITAT Mumbai31 Mar 2017AY 2010-11

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm

For Appellant: Shri Bhupendra ShahFor Respondent: Shri Vishwas Mundhe
Section 131Section 133(6)Section 142(1)Section 143(1)Section 143(2)Section 69C

…se of Balaji Textile Industries Pvt. Ltd. (49 ITD 117 Mum). Moreover, the Authorised Representative has rightly adverted my attention to the orders of the Mumbai Tribunal in the case of FREE INDIA ASSURANCE SERVICES LTD. Vs. DEPUTY COMMISSIONER OF INCOME TAX (132 ITD 60) (Mumbai)(Trib) in which it was held that, “In the absence of any material to refute the claim of the 8 A.Y.2010-11 assessee that the cash received by it against the cheque payments of Rs.30,80,730 from two parties was utilized to purchase cloth from the grey market which was found recorded in the inventory of closing stock, it has to be accepted…

Asst CIT 25(2), Mumbai vs. Metcraft Engineering Corporation, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 5293/MUM/2013[2010-11]Status: DisposedITAT Mumbai15 Feb 2017AY 2010-11

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm Acit – 25(2), Mumbai Vs. M/S. Metcraft Engineering Corporation, 601-602, Siddarth Arcade, 3 Lt Road, Borivali (W), Mumbai – 400 092 Pan/Gir No. Aaafm1677M Appellant) .. Respondent)

Section 143(3)Section 14ASection 69C

…ch in the case of YFC Project Pvt Ltd vs Deputy Commissioner of Income Tax reported in 46 DTR 496 / 134 TTJ 167 (Delhi) 5 M/s. Metcraft Engineering Corporation The Hon'ble ITAT, Mumbai Bench in the case of Free India Assurance Services Ltd v DCIT reported at 62 DTR 349/(2011) 12 Taxman.com 424 (Mum) ; The Hon'ble ITAT, PuneBench in the case of Rajmal Lakhichand v ACIT reported at 79,ITD 84 ' : The Hon'ble ITAT, Jaipur Bench in case of ITO v. Kanchanwala Gems reported in 122 TTJ 854 In the case of ITO vs. Permanand, the Hon'ble ITAT, Jodhpur Bench reported in 107 TTJ 395 ' , In the case of R.K.Synthetics vs. ITO…

ITO 31(2)(3), Mumbai vs. Manjula S. Shah, Mumbai

The appeal of the Revenue is dismissed

ITA 7220/MUM/2014[2009-10]Status: DisposedITAT Mumbai02 Feb 2017AY 2009-10

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2009-10 Income Tax Officer-31(2)(3), Mrs. Manjula S. Shah, Room No.704, C-11, Prop. Of M/S Eastment बनाम/ Pratayaksha Kar Bhavan, Chemicals, 3/202, Rishabh Vs. Bandra Kurla Complex, Mansion, S.V.Road, Nr. St. Bandra(East), John School, Mumbai-400051 Goregaon (W), Mumbai-400062 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aapps3790Q

Section 133(6)Section 69C

…This .finding of the AO is paradoxical. The AO did not make requisite investigation against the two sellers. The impugned deletion is confirmed". Likewise, the Mumbai Bench of the Tribunal in the case of Free India Assurance Services Ltd v DCIT reported at 62 DTR 349 has held as :- "There is no dispute that the assessee has made payments of Rs. 30,80,730 by cheques to HC and SS. During the course of search, the statement was also recorded of AM on 20th June, 2003 wherein he has stated that against the cheque transactions, cash has been received. During the course of assessment proceeding, it was stated by the…

ACIT 25(1), Mumbai vs. Chirag Construction, Mumbai

The appeal of the Revenue is dismissed

ITA 3604/MUM/2013[2009-10]Status: DisposedITAT Mumbai13 Jan 2017AY 2009-10

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2009-10 Acit-25(1), M/S Chirag Construction Room No.202, 02Nd Floor, Company, बनाम/ Pratayakshkar Bhavan, 105, Gopal Puri, S.V.Road, Vs. Bandra Kurla Complex, Borivali (W), Bandra (East), Mumbai-400066 Mumbai-400051 (राज"व /Revenue) (""यथ" /Respondent) Pan. No.Aacfc7646N

…. This .finding of the AO is paradoxical. The AO did not make requisite investigation against the two sellers. The impugned deletion is confirmed". Likewise, the Mumbai Bench of the Tribunal in the case of Free India Assurance Services Ltd v DCIT reported at 62 DTR 349 has held as :- "There is no dispute that the assessee has made payments of Rs. 30,80,730 by cheques to HC and SS. During the course of search, the statement was also recorded of AM on 20th June, 2003 wherein he has stated that against the cheque transactions, cash has been received. During the course of assessment proceeding, it was stated by the…

ITO 14(3)(3), Mumbai vs. Ashwinkumar Chhanganlal Satiya, Mumbai

The appeals of the Revenue are dismissed and the cross objections of the assessee are allowed

ITA 7168/MUM/2013[2003-04]Status: DisposedITAT Mumbai26 Feb 2016AY 2003-04
Section 133ASection 143(1)Section 143(3)Section 147Section 148Section 69

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,ए,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “A”, MUMBAI "ी जी.एस. प"नू, लेखा सद"य एवं "ी जो"ग"दर "संह, "या"यक सद"य, के सम" Before, Shri G.S. Pannu, Accountant Member and Shri Joginder Singh, Judicial Member ITA NOs.7167 & 7168/Mum/2013 Assessment Years: 2002-03 and 2003-04 Income Tax Officer-14(3)(3) Mr. Ashwinkumar 606, 6th floor, Earnest Chhaganlal Satiya, बनाम/ House, Nariman Point, Singapuri Building, Vs. Mumbai-400021 22/24, 2nd Floor, Champa Galli Cross Lane, Mumbai-400002 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No.AMGPS8498G C.O. Nos.19 & 20/Mum/201…

ITO 14(3)(3), Mumbai vs. Ashwinkumar Chhanganlal Satiya, Mumbai

The appeals of the Revenue are dismissed and the cross objections of the assessee are allowed

ITA 7167/MUM/2013[2002-03]Status: DisposedITAT Mumbai26 Feb 2016AY 2002-03
Section 133ASection 143(1)Section 143(3)Section 147Section 148Section 69

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,ए,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “A”, MUMBAI "ी जी.एस. प"नू, लेखा सद"य एवं "ी जो"ग"दर "संह, "या"यक सद"य, के सम" Before, Shri G.S. Pannu, Accountant Member and Shri Joginder Singh, Judicial Member ITA NOs.7167 & 7168/Mum/2013 Assessment Years: 2002-03 and 2003-04 Income Tax Officer-14(3)(3) Mr. Ashwinkumar 606, 6th floor, Earnest Chhaganlal Satiya, बनाम/ House, Nariman Point, Singapuri Building, Vs. Mumbai-400021 22/24, 2nd Floor, Champa Galli Cross Lane, Mumbai-400002 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No.AMGPS8498G C.O. Nos.19 & 20/Mum/201…