Harish Daulatram Innani v. DCIT (Inv)

ACIT 13 (3)(2), Mumbai vs. Vyapar Industries Ltd., Mumbai

In the result, both the appeals of the Revenue are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Amarjit Singh () Assessment Year: 2011-12 & Assessment Year: 2014-15

…gar Kishore Lal Balwant Rai (2007] 17 SOT 380 (Chandigarh) 4. PCIT v. Krutika Land (P.) Ltd (2019] 103 taxmann.com 9 (SC) 5. Bansal Strips (P) Ltd 99 ITD 177 Delhi 6. Harish Daulatram Innani v. Deputy Commissioner of Income-tax(Inv), Cir. 11(1), Mumbai (2008] 24 SOT 541 (Mumbai) 7. K P Verghese v ITO 24 CTR 358 (SC) 8. P. R. Metrani vs. CIT (2006) 287 ITR 209 SC 9. CIT vs. Smt. P. K. Nooriahan 1999 237 ITR 570 (SC) 10. CBI Vs. V. C. Shukla & Ors. (1998) 3SCE 410 The gist submitted by the assessee of some of the cases is an under:- 1. Bhajan Das & Bros v. ACIT (2009] 119 ITD 76 ITAT (THIRD MEMBER) (Agra) In a s…

DCIT 4(1)(2), Mumbai vs. Ahinsa Infrastucture & Developers Ltd, Mumbai

Bench: Sandeep Gosain, Jm & Shri G. Manjunatha Dy. Cit, Circle – 4(1) Vs. M/S. Ahinsa Infrastructure & Aayakar Bhavan Developers Ltd., M.K.Road, 60, Muljijetha Building 3Rd Floor, 185/187, Princess Mumbai – 400 020 Street, Mumbai – 400 001 Pan/Gir No. Aadca3891R (Appellant) .. (Respondent) & Co No.282/Mum/2018 (Arising Out Of Ita No.3735/Mum/2017 (Assessment Year: 2011-12) M/S. Ahinsa Infrastructure & Vs. Dy. Cit, Circle – 4(1) Developers Ltd., Aayakar Bhavan 60, Muljijetha Building M.K.Road, 3Rd Floor, 185/187, Princess Mumbai – 400 020 Street, Mumbai – 400 001 Pan/Gir No. Aadca3891R (Appellant) .. (Respondent)

…IT v/s. P. V. Kalyansundaram - [(2007) 249 ITR 49 (SC) at Pg. 52], Mohammed Yusuf v/s. D. - [AIR 1968 Bom 112], CIT v/s Mrugeshjaykrishna - [(2000) 245 ITR 638(Guj)], CIT v/s ChamanlalDhingra - [(1994) 121 Taxation 272 (All)], Harish Inani v/s. DCIT - [(2008) 24 SOT 541 (Mum)], ACIT v/s. Shailesh S. Shah -[(1997) 3 ITD 153 (Mum)], AtuI Kumar Jain v/s. DCIT - [(1999) 64 TTJ (Del) 786], ACIT v/s. Sri RadheShyamPoddar - [(1992) 41 ITD 441 (Cal)], Ashwini Kumar v/s. ITO - [(1992) 42 TTJ (Del) 644)], D.A. Patel v/s. Dy. CIT- [(2000)72 ITD 340 (Mum)], ACIT v/s. Rakesh M. Shah - [(2004) ISOT (Mum) 224], S.P. Goyal v/s.…

Layer Exports P. Ltd, Mumbai vs. ACIT Cen Cir 21, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

ACIT Cen Cir 21, Mumbai vs. Layer Exports P.Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

Layer Exports P. Ltd, Mumbai vs. Asst CIT Cen Cir 21, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

ACIT Cen Cir 21, Mumbai vs. Layer Exports P.Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

Layer Exports P.Ltd, Mumbai vs. ACIT Cen Cir 24 & 26, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

Layer Exports P.Ltd, Mumbai vs. ACIT Cen Cir 24 & 26, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

Layer Exports P.Ltd, Mumbai vs. ACIT Cen Cir 24 & 26, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

Layer Exports P.Ltd, Mumbai vs. ACIT Cen Cir 24 & 26, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

Layer Exports P. Ltd, Mumbai vs. ACIT Cen Cir 24 & 26, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…

ACIT Cen Cir 24 & 26, Mumbai vs. Layer Exports P. Ltd, Mumbai

In the result, the appeals of the Revenue and that of the assessee are decided as indicated above against each issue

Bench: Sri Mahavir Singh, Jm & Sri B. R. Baskaran, Am

…oney merely on the basis of interpretation of noting in seized loose papers on the basis of conjunctures & surmises. We have already referred to the decision of Mumbai Tribunal in the case of Harish Daulatram Innani 42 & 13 other appeals Vs. DCIT(Inv) (2008) 24 SOT 541(Mum). 24. Our reference was invited to the decision of co-ordinate bench of the Mumbai Tribunal in the case of Harakchand N. Jain Vs. ACIT (1998) 61 TTJ (Mum) 223 wherein it was held as under (Copy enclosed at pages 505-536 of assessee‟s Paper Book): "Since the agreements of some purchasers are on the record, the AO could very well verify from th…