Guj.), Abhay Kumar Shroff vs CIT (2007) 290 ITR 114 (Jhar.), Spacewood Furnishers Pvt Ltd. v. DGIT

346 ITR 130High Court2012#5125 most cited
23

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2024.

Issues it is cited on

section 2(45)section 139(5)section 153c(1)section 132asection 153a(1)commercial expediencyreasoned ordersection 292regular assessmentsatisfaction notesection 29agricultural income

Judgments citing Guj.), Abhay Kumar Shroff vs CIT (2007) 290 ITR 114 (Jhar.), Spacewood Furnishers Pvt Ltd. v. DGIT

RAJDEEP BUILDCON PVT LTD, AHMEDNAGAR,AHMEDNAGAR vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(2), PUNE, PUNE

In the result, the appeal filed by the assessee in ITA

ITA 469/PUN/2022[2013-14]Status: DisposedITAT Pune18 Sept 2024AY 2013-14

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Smt. Deepa KhareFor Respondent: Shri Ajay Kumar Keshari
Section 132Section 139Section 143(3)Section 14ASection 153A

…nt under s. 153A in pursuance of search or requisition is required to be made-Suncity Aloys (P) Ltd. vs. Astilt. CIT (2009) 124 TTJ (Jd) 674 (2009) 27 DTR (Jd) 139 affirmed, CIT vs. Smt. Shaila Agarwal (2012) 246 CTR (All) 266 : (2012) 65 DTR (All) 41: (2012) 346 ITR 130 (All) relied on; KP Varghese vs. ITO (1981) 24 CTR (SC) 358 : (1981) 131 1TR 597 (SC) applied”. (Paras 25, 29 & 30) 12. In a decision in the case of M/s D J Malpani (ITA No 1148- 1154/PN/2013 decision dated 30/10/2015) the Hon’ble Jurisdictional Pune Tribunal on the issue of fresh claim made in the returns filed u/s 153A held as under: "The Ld. C…

RAJDEEP BUILDCON PRIVAT LIMITED, AHMEDNAGAR,AHMEDNAGAR vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(2), PUNE, PUNE

In the result, the appeal filed by the assessee in ITA

ITA 468/PUN/2022[2012-13]Status: DisposedITAT Pune18 Sept 2024AY 2012-13

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Smt. Deepa KhareFor Respondent: Shri Ajay Kumar Keshari
Section 132Section 139Section 143(3)Section 14ASection 153A

…nt under s. 153A in pursuance of search or requisition is required to be made-Suncity Aloys (P) Ltd. vs. Astilt. CIT (2009) 124 TTJ (Jd) 674 (2009) 27 DTR (Jd) 139 affirmed, CIT vs. Smt. Shaila Agarwal (2012) 246 CTR (All) 266 : (2012) 65 DTR (All) 41: (2012) 346 ITR 130 (All) relied on; KP Varghese vs. ITO (1981) 24 CTR (SC) 358 : (1981) 131 1TR 597 (SC) applied”. (Paras 25, 29 & 30) 12. In a decision in the case of M/s D J Malpani (ITA No 1148- 1154/PN/2013 decision dated 30/10/2015) the Hon’ble Jurisdictional Pune Tribunal on the issue of fresh claim made in the returns filed u/s 153A held as under: "The Ld. C…

RAJDEEP BUILDCOM PRIVATE LIMITED,AHMEDNAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(2), PUNE, PUNE

In the result, the appeal filed by the assessee in ITA

ITA 467/PUN/2022[2011-12]Status: DisposedITAT Pune18 Sept 2024AY 2011-12

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Smt. Deepa KhareFor Respondent: Shri Ajay Kumar Keshari
Section 132Section 139Section 143(3)Section 14ASection 153A

…nt under s. 153A in pursuance of search or requisition is required to be made-Suncity Aloys (P) Ltd. vs. Astilt. CIT (2009) 124 TTJ (Jd) 674 (2009) 27 DTR (Jd) 139 affirmed, CIT vs. Smt. Shaila Agarwal (2012) 246 CTR (All) 266 : (2012) 65 DTR (All) 41: (2012) 346 ITR 130 (All) relied on; KP Varghese vs. ITO (1981) 24 CTR (SC) 358 : (1981) 131 1TR 597 (SC) applied”. (Paras 25, 29 & 30) 12. In a decision in the case of M/s D J Malpani (ITA No 1148- 1154/PN/2013 decision dated 30/10/2015) the Hon’ble Jurisdictional Pune Tribunal on the issue of fresh claim made in the returns filed u/s 153A held as under: "The Ld. C…

AMIT SANAP ,KALYAN vs. DCIT CC 1 , THANE

In the result, appeal by the assessee for assessment year 2007–08

ITA 682/MUM/2020[2007-08]Status: DisposedITAT Mumbai24 Jun 2022AY 2007-08

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

For Appellant: NoneFor Respondent: Smt. Shailja Rai
Section 139Section 143(3)Section 153ASection 153CSection 250

…sessment under s 153A in pursuance of search or requisition is required to be made-Suncity Alloys (P) Ltd vs. Asstt. CIT (2009) 124 TTJ (Jd) 674 (2009) 27 DTR (Jd) 139 affirmed. CIT vs. Smt Shalla Agarwal (2012) 246 CTR (All) 266 (2012) 65 DTR (All) 41 (2012) 346 ITR 130 (All) relied on; K.P. Varghese vs ITO (1981) 24 CTR (SC) 358: (1981) 131 ITR 597 (SC) applied." Amit Sanap ITA No. 380 & 681/Mum./2020 (Paras 30, 34 & 35) In a decision in the case of M/s D J Malpani (ITA No 1148-1154/Pn/2013 decision dated 30/10/2015), the Pune ITAT on the issue of fresh claim made in the returns filed u/s 153A held as under: “…

AMIT SANAP ,KALYAN vs. DCIT CC 1 , THANE

In the result, appeal by the assessee for assessment year 2007–08

ITA 681/MUM/2020[2004-05]Status: DisposedITAT Mumbai24 Jun 2022AY 2004-05

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

For Appellant: NoneFor Respondent: Smt. Shailja Rai
Section 139Section 143(3)Section 153ASection 153CSection 250

…sessment under s 153A in pursuance of search or requisition is required to be made-Suncity Alloys (P) Ltd vs. Asstt. CIT (2009) 124 TTJ (Jd) 674 (2009) 27 DTR (Jd) 139 affirmed. CIT vs. Smt Shalla Agarwal (2012) 246 CTR (All) 266 (2012) 65 DTR (All) 41 (2012) 346 ITR 130 (All) relied on; K.P. Varghese vs ITO (1981) 24 CTR (SC) 358: (1981) 131 ITR 597 (SC) applied." Amit Sanap ITA No. 380 & 681/Mum./2020 (Paras 30, 34 & 35) In a decision in the case of M/s D J Malpani (ITA No 1148-1154/Pn/2013 decision dated 30/10/2015), the Pune ITAT on the issue of fresh claim made in the returns filed u/s 153A held as under: “…

AMIT SANAP ,KALYAN vs. DCIT CC 1, THANE

In the result, appeal by the assessee for assessment year 2007–08

ITA 680/MUM/2020[2003-04]Status: DisposedITAT Mumbai24 Jun 2022AY 2003-04

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

For Appellant: NoneFor Respondent: Smt. Shailja Rai
Section 139Section 143(3)Section 153ASection 153CSection 250

…sessment under s 153A in pursuance of search or requisition is required to be made-Suncity Alloys (P) Ltd vs. Asstt. CIT (2009) 124 TTJ (Jd) 674 (2009) 27 DTR (Jd) 139 affirmed. CIT vs. Smt Shalla Agarwal (2012) 246 CTR (All) 266 (2012) 65 DTR (All) 41 (2012) 346 ITR 130 (All) relied on; K.P. Varghese vs ITO (1981) 24 CTR (SC) 358: (1981) 131 ITR 597 (SC) applied." Amit Sanap ITA No. 380 & 681/Mum./2020 (Paras 30, 34 & 35) In a decision in the case of M/s D J Malpani (ITA No 1148-1154/Pn/2013 decision dated 30/10/2015), the Pune ITAT on the issue of fresh claim made in the returns filed u/s 153A held as under: “…

ACIT,ALLAHABAD vs. M/S SUNSINE INFRASTATE PVT TTD, ALLAHABAD

In the result, the appeal filed by Revenue in ITA no

ITA 103/ALLD/2017[2011-2012]Status: DisposedITAT Allahabad04 May 2022AY 2011-2012

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2011-12 The Assistant Commissioner Of Sunshine Infraestate Income-Tax, Central Circle, V. Private Limited Allahabad, U.P. 17, Industrial Area, Naini, Allahabad, U.P. Pan: Aancs9247H (Appellant) (Respondent) C.O.No. 22/Alld/2017 (Arising Out Of Ita No.103/Alld/2017) Assessment Year: 2011-12 Sunshine Infraestate Private Limited The Assistant 17, Industrial Area, Naini, V. Commissioner Of Allahabad, U.P. Income-Tax, Central Circle, Allahabad, U.P. Pan: Aancs9247H (Appellant) (Respondent)

For Appellant: Shri Shantanu Dhamija, CIT-DRFor Respondent: Shri Parveen Godbole,CA
Section 132(1)Section 142(1)Section 144Section 153ASection 250

…P a g e | 1 ITA No. 103/Alld/2017 and C.O.No. 22/Alld/2017 (arising out of ITA No. 103/Alld/2017) Assessment Year 2011-12 Sunshine Infraestate Private Limited,Allahabad IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH “DB”, ALLAHABAD (THROUGH VIRTUAL COURT), BEFORE SHRI.VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER Assessment Year: 2011-12 The Assistant Commissioner of Sunshine Infraestate Income-tax, Central Circle, v. Private Limited Allahabad, U.P. 17, Industrial Area, Naini, Allahabad, U.P. PAN: AANCS9247H (Appellant) (Respondent) C.O.No. 22/Alld/2017 (arising out of ITA No.10…

M/S.BALAJI BULLION & COMMODITIES (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE-40, MUMBAI

In the result, both the appeals are allowed

ITA 1291/MUM/2018[2009-10]Status: DisposedITAT Mumbai29 Apr 2022AY 2009-10

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Balaji Bullion & Commodities The Dy. Commissioner Of (India) Private Limited Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002 (Appellant) (Respondent) Pan No. Aadcbo236F Balaji Universal Tradelinks P. The Dy. Commissioner Of Ltd. Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002

For Appellant: Shri N.M. Porwal, AdvFor Respondent: Shri Dr. Mahesh Akhade, CIT DR
Section 10ASection 153ASection 153BSection 37Section 68

…, accordingly, quashed.” Further, ratio laid down in CIT vs Ramesh D. Patel (2014) 362 ITR 492 (Guj.), Abhay Kumar Shroff vs CIT (2007) 290 ITR 114 (Jhar.), Spacewood Furnishers Pvt Ltd. vs DGIT (2012) 340 ITR 393 (Bom.) and CIT vs Smt. Shaila Agarwal (2012) 346 ITR 130 (All.) supports the case of the assessee. The ratio laid down by Hon’ble Apex Court in Union of India vs Ajit Jain 260 ITR 80(SC), CIT vs Ms. Rohini Valia 289 ITR 328 (Del.), Jindal Stainless Ltd. Vs ACIT 120 ITD 301 (Del.), Jayantilal Damjibhai & Ors. Vs DIT (2008) 219 CTR 26, also supports the case of the assessee. We are of the view that searc…

VIKRAM B TANNAN,MUMBAI vs. ASST CIT CEN CIR 3(2), MUMBAI

Accordingly the ground No. 1 raised by the assessee is allowed

ITA 5671/MUM/2017[2007-08]Status: DisposedITAT Mumbai25 Nov 2021AY 2007-08

Bench: Shri S. Rifaur Rahman () & Shri Pavan Kumar Gadale () Assessment Year: 2007-08 Mr. Vikram Bodhraj Tanna, Asst. Commissioner Of Income Tax, M/S Capsulation Services Ltd., Vs. Central Circle-20, Capsulations Premises, 1St Floor, Aayakar Bhavan, M.K. Road, New Sion Trombay Road, Deonar, Marine Lines Mumbai-400 088. Mumbai-20. Pan No. Aabpt 3016 G Appellant Respondent Assessment Year: 2007-08 Mr. Vikram Bodhraj Tanna, Asst. Commissioner Of Income Tax, M/S Capsulation Services Ltd., Vs. Central Circle-3(2), Capsulations Premises, 1St Floor, Room No. 402, Aayakar Bhavan, M.K. Sion Trombay Road, Deonar, Road, New Marine Lines Mumbai-400088. Mumbai-20. Pan No. Aabpt 3016 G Appellant Respondent Assessment Year: 2007-08 Dcit Cc 3(2), Central Range-3, Mr. Vikram Bodhraj Tanna, Room No. 1913, 19Th Floor, Air Vs. M/S Capsulation Services Ltd., India Building, Nariman Point, Capsulations Premises, 1St Floor, Mumbai-400020. Sion Trombay Road, Deonar, Mumbai-400088. Pan No. Aabpt 3016 G Appellant Respondent Assessee By : Mr. J.D. Mistry, Ar Revenue By : Mr. Jacinta, Dr Date Of Hearing : 30/09/2021 Date Of Pronouncement : 25/11/2021

For Appellant: Mr. J.D. Mistry, ARFor Respondent: Mr. Jacinta, DR
Section 132Section 139Section 143(2)Section 143(3)Section 153A

…r Sec. 153A of the Act. For ready reference citations of some of the decisions on this issue are as under:-  Jignesh P. Shah Vs. DCIT (ITAT Mumbai) (ITA No. 1553 & 3173/Mum/2010)  CIT v. Kabul Chawla (ITA No. 707/2014) (Del HC)  CIT v. Smt. Shaila Agarwal (346 ITR 130) (All.) 2.14 Thus, the addition made is completely contrary to the binding decision of the Jurisdictional High Court, as well as other decisions of various High Courts, and is liable to be struck down. 2.15 Further, on facts identical to the case of the Appellant, where addition was made on the basis of a similar Base Note' and no other incrimina…

VIKRAM B TANNAN,MUMBAI vs. ASST CIT CEN CIR 20, MUMBAI

Accordingly the ground No. 1 raised by the assessee is allowed

ITA 7323/MUM/2016[2007-08]Status: DisposedITAT Mumbai25 Nov 2021AY 2007-08

Bench: Shri S. Rifaur Rahman () & Shri Pavan Kumar Gadale () Assessment Year: 2007-08 Mr. Vikram Bodhraj Tanna, Asst. Commissioner Of Income Tax, M/S Capsulation Services Ltd., Vs. Central Circle-20, Capsulations Premises, 1St Floor, Aayakar Bhavan, M.K. Road, New Sion Trombay Road, Deonar, Marine Lines Mumbai-400 088. Mumbai-20. Pan No. Aabpt 3016 G Appellant Respondent Assessment Year: 2007-08 Mr. Vikram Bodhraj Tanna, Asst. Commissioner Of Income Tax, M/S Capsulation Services Ltd., Vs. Central Circle-3(2), Capsulations Premises, 1St Floor, Room No. 402, Aayakar Bhavan, M.K. Sion Trombay Road, Deonar, Road, New Marine Lines Mumbai-400088. Mumbai-20. Pan No. Aabpt 3016 G Appellant Respondent Assessment Year: 2007-08 Dcit Cc 3(2), Central Range-3, Mr. Vikram Bodhraj Tanna, Room No. 1913, 19Th Floor, Air Vs. M/S Capsulation Services Ltd., India Building, Nariman Point, Capsulations Premises, 1St Floor, Mumbai-400020. Sion Trombay Road, Deonar, Mumbai-400088. Pan No. Aabpt 3016 G Appellant Respondent Assessee By : Mr. J.D. Mistry, Ar Revenue By : Mr. Jacinta, Dr Date Of Hearing : 30/09/2021 Date Of Pronouncement : 25/11/2021

For Appellant: Mr. J.D. Mistry, ARFor Respondent: Mr. Jacinta, DR
Section 132Section 139Section 143(2)Section 143(3)Section 153A

…r Sec. 153A of the Act. For ready reference citations of some of the decisions on this issue are as under:-  Jignesh P. Shah Vs. DCIT (ITAT Mumbai) (ITA No. 1553 & 3173/Mum/2010)  CIT v. Kabul Chawla (ITA No. 707/2014) (Del HC)  CIT v. Smt. Shaila Agarwal (346 ITR 130) (All.) 2.14 Thus, the addition made is completely contrary to the binding decision of the Jurisdictional High Court, as well as other decisions of various High Courts, and is liable to be struck down. 2.15 Further, on facts identical to the case of the Appellant, where addition was made on the basis of a similar Base Note' and no other incrimina…

M/S. SANGYON AUTOMOTIVE PVT. LTD.,NEW DELHI vs. ACIT, MEERUT

In the result, ITA Nos.2991 & 2992/Del/2015 are partly allowed and ITA

ITA 2993/DEL/2015[2008-09]Status: DisposedITAT Delhi10 Dec 2018AY 2008-09

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri G.C. Srivastava &For Respondent: Shri S.S. Rana, CIT, DR
Section 132Section 143(1)Section 143(2)Section 143(3)Section 153ASection 68

…n Society, 397 ITR 344 (SC); ii) INTAS Pharmaceuticals Ltd. vs. DCIT – IT (SS) A no.807to 809/Ahd/2010 and batch of other appeals, order dated 14.08.2015. iii) ACIT vs. Goldmohur Design & Apparel Park Ltd., 96 taxmann.com 375; iv) CIT vs. Smt. Shaila Agarwal, 346 ITR 130 (Allahabad). 13. He accordingly submitted that in absence of any incriminating material found during the course of search no addition can be made u/s 153A/143(3) in case of a completed assessment. 14. So far as the merit of the case is concerned, he submitted that the original assessment in this case was completed u/s 147/143(3) on 6th December…

M/S. SANGYON AUTOMOTIVE PVT. LTD.,NEW DELHI vs. ACIT, MEERUT

In the result, ITA Nos.2991 & 2992/Del/2015 are partly allowed and ITA

ITA 2992/DEL/2015[2006-07]Status: DisposedITAT Delhi10 Dec 2018AY 2006-07

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri G.C. Srivastava &For Respondent: Shri S.S. Rana, CIT, DR
Section 132Section 143(1)Section 143(2)Section 143(3)Section 153ASection 68

…n Society, 397 ITR 344 (SC); ii) INTAS Pharmaceuticals Ltd. vs. DCIT – IT (SS) A no.807to 809/Ahd/2010 and batch of other appeals, order dated 14.08.2015. iii) ACIT vs. Goldmohur Design & Apparel Park Ltd., 96 taxmann.com 375; iv) CIT vs. Smt. Shaila Agarwal, 346 ITR 130 (Allahabad). 13. He accordingly submitted that in absence of any incriminating material found during the course of search no addition can be made u/s 153A/143(3) in case of a completed assessment. 14. So far as the merit of the case is concerned, he submitted that the original assessment in this case was completed u/s 147/143(3) on 6th December…

M/S. SANGYON AUTOMOTIVE PVT. LTD.,NEW DELHI vs. ACIT, MEERUT

In the result, ITA Nos.2991 & 2992/Del/2015 are partly allowed and ITA

ITA 2991/DEL/2015[2005-06]Status: DisposedITAT Delhi10 Dec 2018AY 2005-06

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri G.C. Srivastava &For Respondent: Shri S.S. Rana, CIT, DR
Section 132Section 143(1)Section 143(2)Section 143(3)Section 153ASection 68

…n Society, 397 ITR 344 (SC); ii) INTAS Pharmaceuticals Ltd. vs. DCIT – IT (SS) A no.807to 809/Ahd/2010 and batch of other appeals, order dated 14.08.2015. iii) ACIT vs. Goldmohur Design & Apparel Park Ltd., 96 taxmann.com 375; iv) CIT vs. Smt. Shaila Agarwal, 346 ITR 130 (Allahabad). 13. He accordingly submitted that in absence of any incriminating material found during the course of search no addition can be made u/s 153A/143(3) in case of a completed assessment. 14. So far as the merit of the case is concerned, he submitted that the original assessment in this case was completed u/s 147/143(3) on 6th December…

M/S. SHERAWALI YARNS PVT. LTD.,NEW DELHI vs. ACIT, MEERUT

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

ITA 2996/DEL/2015[2005-06]Status: DisposedITAT Delhi30 Nov 2018AY 2005-06

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2005-06 Sherawali Yarns Pvt. Ltd., Vs. Acit, 14D, 14Th Floor, Hansalaya, Central Circle, 15, Barakhamba Road, Bhainsali Road, New Delhi. Meerut. Pan: Aaics3421L (Appellant) (Respondent) Assessee By : Shri G.C. Srivastava & Shri Suvinay K. Dash, Advocates Revenue By : Shri S.S. Rana, Cit, Dr Date Of Hearing : 13.09.2018 Date Of Pronouncement : 30.11.2018 Order Per R.K. Panda, Am: This Appeal By The Assessee Is Directed Against The Order Dated 11Th March, 2015 Of The Cit(A), Meerut, Relating To Assessment Year 2005-06. 2. The Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Trading & Investment In Shares. It Filed Its Return Of Income On 19Th September, 2005 Declaring Loss Of Rs.320/-. The Case Was Selected For Scrutiny & In Response To Notice U/S 143(2) Dated 20Th September, 2006 & Notice U/S 142(1) Dated 3Rd August, 2007, The Counsel Of The Assessee Appeared Before The Assessing Officer

For Appellant: Shri G.C. Srivastava &For Respondent: Shri S.S. Rana, CIT, DR
Section 132Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 153ASection 68

…cation Society, 397 ITR 344; ii) INTAS Pharmaceuticals Ltd. vs. DCIT – IT (SS) A no.807to 809/Ahd/2010 and batch of other appeals, order dated 14.08.2015. iii) ACIT vs. Goldmohur Design & Apparel Park Ltd., 96 taxmann.com 375; iv) CIT vs. Smt. Shaila Agarwal, 346 ITR 130 (Allahabad). 8. He accordingly submitted that in absence of any incriminating material found during the course of search no addition can be made u/s 153A/143(3) in case of a completed assessment. 9. So far as the merit of the case is concerned, he submitted that the original assessment in this case was completed u/s 147/143(3) on 6th December,…

M/S. ROSEBERRY MERCANTILE PVT. LTD.,NEW DELHI vs. ACIT, MEERUT

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

ITA 2995/DEL/2015[2008-09]Status: DisposedITAT Delhi30 Nov 2018AY 2008-09

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2008-09 Roseberry Mercantile Pvt. Ltd., Vs. Acit, 14D, 14Th Floor, Hansalaya, Central Circle, 15, Barakhamba Road, Bhainsali Road, New Delhi. Meerut. Pan: Aabcr3485J (Appellant) (Respondent) Assessee By : Shri G.C. Srivastava & Shri Suvinay K. Dash, Advocates Revenue By : Shri S.S. Rana, Cit, Dr Date Of Hearing : 13.09.2018 Date Of Pronouncement : 30.11.2018 Order Per R.K. Panda, Am: This Appeal By The Assessee Is Directed Against The Order Dated 10Th March, 2015 Of The Cit(A), Meerut, Relating To Assessment Year 2008-09. 2. The Facts Of The Case, In Brief, Are That The Assessee Is A Company & Derives Income From Interest On Loans & Advances Granted By It As An Nbfc & Profit On Sale Of Mutual Funds. The Return Of Income Was Filed On 6Th November, 2008 Declaring Total Income Of Rs. Nil. The Return Was Processed U/S 143(1) On 8Th July, 2009. Subsequently, The Case Was Reopened U/S 147 After Duly Recording The Reasons In Writing. In Response To Notice U/S 148 Of The It Act Dated 23Rd October, 2009, The Assessee Submitted To Treat The Original Return As Return Filed In Compliance To Notice U/S 148 Of The It Act, 1961. Subsequently, The Assessing Officer Completed The Assessment U/S 147/143(3) On 31St December, 2009 Determining The Total Income At Rs.73,510/- Wherein He Made Certain Additions By Disallowing Stt Debited To P&L Account, Income-Tax Debited, Disallowance U/S 14A & Preliminary Expenses.

For Appellant: Shri G.C. Srivastava &For Respondent: Shri S.S. Rana, CIT, DR
Section 132Section 143(1)Section 143(3)Section 147Section 148Section 14ASection 153ASection 68

…cation Society, 397 ITR 344; ii) INTAS Pharmaceuticals Ltd. vs. DCIT – IT (SS) A no.807to 809/Ahd/2010 and batch of other appeals, order dated 14.08.2015. iii) ACIT vs. Goldmohur Design & Apparel Park Ltd., 96 taxmann.com 375; iv) CIT vs. Smt. Shaila Agarwal, 346 ITR 130 (Allahabad). 8. He accordingly submitted that in absence of any incriminating material found during the course of search no addition can be made u/s 153A/143(3) in case of a completed assessment. 9. So far as the merit of the case is concerned, he submitted that the original assessment in this case was completed u/s 147/143(3) on 31st December,…

PRAKASH P. MALI,MUMBAI vs. DCIT CENT. CIR. 4(4), RANGE -4,, MUMBAI

The appeal of the assessee is allowed and the ld

ITA 2181/MUM/2016[2004-05]Status: DisposedITAT Mumbai11 Apr 2017AY 2004-05

Bench: Shri Joginder Singh & Shri Rajendra

Section 132Section 133Section 143(3)Section 153CSection 271(1)(c)Section 88

…iminating material seized during the search, the assessment order passed u/s 153A r.w.s 143(3) of the Act is not tenable in law, Ld Counsel for the assessee filed written submissions and also relied on following decisions viz., (i) CIT vs. Smt Shaila Agarwal, 346 ITR 130; (ii) All Cargo Global Logistics Ltd vs. DCIT [18 ITR 106] (Mum.) (SB); (iii) Spacewood Furnishers Pvt Ltd Ors vs. DGIT & Ors. [340 ITR 393 (Bom)] (iv) Shri Govind Agarwal v. ACIT being ITA No: 3389/Mum/2011 dated 10.01.2014; (v) SKS Ispat and Power Limited vs. DCIT l (vi) Sinhgad Technical Education Society vs. ACIT [2011] 140 TTJ 233 and others…

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

ITA 4513/MUM/2014[2006-07]Status: DisposedITAT Mumbai04 Apr 2017AY 2006-07

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(3)Section 133ASection 143(3)Section 153A

…s, accordingly, quashed.” Further, ratio laid down in CIT vs Ramesh D. Patel (2014) 362 ITR 492 (Guj.), Abhay Kumar Shroff vs CIT (2007) 290 ITR 114 (Jhar.), Spacewood Furnishers Pvt Ltd. vs DGIT (2012) 340 ITR 393 (Bom.) and CIT vs Smt. Shaila Agarwal (2012) 346 ITR 130 (All.) supports the case of the assessee. The ratio laid down by Hon’ble Apex Court in Union of India vs Ajit Jain 260 ITR 80(SC), CIT vs Ms. Rohini Valia 289 ITR 328 (Del.), Jindal Stainless Ltd. Vs ACIT 120 ITD 301 (Del.), Jayantilal Damjibhai & Ors. Vs DIT (2008) 219 CTR 26, also supports the case of the assessee. We are of the view that searc…

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

ITA 4512/MUM/2014[2005-06]Status: DisposedITAT Mumbai04 Apr 2017AY 2005-06

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(3)Section 133ASection 143(3)Section 153A

…s, accordingly, quashed.” Further, ratio laid down in CIT vs Ramesh D. Patel (2014) 362 ITR 492 (Guj.), Abhay Kumar Shroff vs CIT (2007) 290 ITR 114 (Jhar.), Spacewood Furnishers Pvt Ltd. vs DGIT (2012) 340 ITR 393 (Bom.) and CIT vs Smt. Shaila Agarwal (2012) 346 ITR 130 (All.) supports the case of the assessee. The ratio laid down by Hon’ble Apex Court in Union of India vs Ajit Jain 260 ITR 80(SC), CIT vs Ms. Rohini Valia 289 ITR 328 (Del.), Jindal Stainless Ltd. Vs ACIT 120 ITD 301 (Del.), Jayantilal Damjibhai & Ors. Vs DIT (2008) 219 CTR 26, also supports the case of the assessee. We are of the view that searc…

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

ITA 4511/MUM/2014[2004-05]Status: DisposedITAT Mumbai04 Apr 2017AY 2004-05

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(3)Section 133ASection 143(3)Section 153A

…s, accordingly, quashed.” Further, ratio laid down in CIT vs Ramesh D. Patel (2014) 362 ITR 492 (Guj.), Abhay Kumar Shroff vs CIT (2007) 290 ITR 114 (Jhar.), Spacewood Furnishers Pvt Ltd. vs DGIT (2012) 340 ITR 393 (Bom.) and CIT vs Smt. Shaila Agarwal (2012) 346 ITR 130 (All.) supports the case of the assessee. The ratio laid down by Hon’ble Apex Court in Union of India vs Ajit Jain 260 ITR 80(SC), CIT vs Ms. Rohini Valia 289 ITR 328 (Del.), Jindal Stainless Ltd. Vs ACIT 120 ITD 301 (Del.), Jayantilal Damjibhai & Ors. Vs DIT (2008) 219 CTR 26, also supports the case of the assessee. We are of the view that searc…

BALAJI UNIVERSAL TRADELINK P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

The appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 2183/MUM/2013[2004-05]Status: DisposedITAT Mumbai31 Oct 2016AY 2004-05

Bench: Shri Joginder Singh & Shri Sanjay Arora

Section 132(3)Section 133ASection 143(3)Section 153A

…, accordingly, quashed.” Further, ratio laid down in CIT vs Ramesh D. Patel (2014) 362 ITR 492 (Guj.), Abhay Kumar Shroff vs CIT (2007) 290 ITR 114 (Jhar.), Spacewood Furnishers Pvt Ltd. vs DGIT (2012) 340 ITR 393 (Bom.) and CIT vs Smt. Shaila Agarwal (2012) 346 ITR 130 (All.) supports the case of the assessee. The ratio laid down by Hon’ble Apex Court in Union of India vs Ajit Jain 260 ITR 80(SC), CIT vs Ms. Rohini Valia 289 ITR 328 (Del.), Jindal Stainless Ltd. Vs ACIT 120 ITD 301 (Del.), Jayantilal Damjibhai & Ors. Vs DIT (2008) 219 CTR 26, also supports the case of the assessee. We are of the view that searc…

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