Hindustan Lever Ltd. v. R.B. Wadkar

DCIT 1 (1)(2), Mumbai vs. M/S Hdfc Ergo General Insurance Company Ltd., Mumbai

In the result, appeal of the Revenue is dismissed and Cross

…he part of the assessee to make full and true disclosure of material facts in the original assessment proceedings. This is a mandatory requirement of law as held by the Hon’ble Jurisdictional High Court in the case of Hindustan Lever Ltd., vs. ITO reported in 268 ITR 332 wherein it was held as under:- “20. The reasons recorded by the Assessing Officer nowhere state that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment of that assessment year. It is needless to mention that the reasons are required to be read as they were recorded by the Ass…

La Cera Mall Pvt Ltd., Mumbai vs. ITO Ward 12 (3)(3), Mumbai

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 337/Mum/2020 (निर्धारण वर्ा / Assessment Year:2010-11) La Cera Mall Pvt. Ltd. बिधम/ The Income Tax Officer Plot No.44/A, Govt. Ind. Ward-12(3)(3) Vs. Est., Opp. Ipca Room No.224, Aayakar Laboratories, M. G. Road, Bhavan, M. K. Road, Mumbai- Charkop, Kandiwali (West), 400020. Mumbai-400067. आयकर अपील सं/ I.T.A. No. 461/Mum/2020 (निर्धारण वर्ा / Assessment Year: 2010-11) The Income Tax Officer बिधम/ La Cera Mall Pvt. Ltd. Ward-12(3)(3) Plot No.44/A, Govt. Ind. Vs. Room No.224, Aayakar Est., Opp. Ipca Bhavan, M. K. Road, Laboratories, M. G. Road, Mumbai-400020. Charkop, Kandiwali (West), Mumbai-400067. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacl9996K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Neelkanth Khandelwal Revenue By: Shri Mehul Jain सुनवाई की तारीख / Date Of Hearing: 21/10/2021 घोषणा की तारीख /Date Of Pronouncement: 30/11/2021 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 30.10.2019 Passed By The Commissioner Of Income Tax (Appeals) -21, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2010-11. 461/M/2020 A.Y. 2010-11

…sons recorded by AO should speak for itself. There cannot any addition or deletion to the reasons so recorded. Reliance in this regard is placed on the decision of Hon’ble Jurisdictional High Court in the case of Hindustan Lever Ltd. Vs. R. B. Wadkar reported 268 ITR 332 (Bom). 7.2 In para no. 3 of the reasons recorded by the Ld. AO, it is very clear that the Ld. AO had sought to reopen the assessment only to make fishing and roving enquiries with regard to share capital and share premium received by the assessee. He does not say anywhere in the said reasons with some tangible material is available with him that…

Famy Care Pvt Ltd., Mumbai vs. ACIT 2 (1)(2), Mumbai

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

Bench: Shri S. Rifaur Rahman () & Shri Pavan Kumar Gadale () Assessment Year: 2010-11 Famy Care Pvt. Ltd., Acit-2(1)(2), 3Rd Floor, Bardy House, Vs. Room No. 561, 5Th Floor, 12/14, V.N. Road, Fort, Aayakar Bhavan, Mumbai-400 001. Mumbai-400020. Pan No. Aaacf 0632 Q Appellant Respondent Assessee By : Ms. Ritu Kamal Kishore, Ar Revenue By : Mr. S.N. Kabra, Dr Date Of Hearing : 14/09/2021 Date Of Pronouncement : 12/11/2021

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI S. RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI PAVAN KUMAR GADALE (JUDICIAL MEMBER) Assessment Year: 2010-11 Famy Care Pvt. Ltd., ACIT-2(1)(2), 3rd floor, Bardy House, Vs. Room No. 561, 5th floor, 12/14, V.N. Road, Fort, Aayakar Bhavan, Mumbai-400 001. Mumbai-400020. PAN No. AAACF 0632 Q Appellant Respondent Assessee by : Ms. Ritu Kamal Kishore, AR Revenue by : Mr. S.N. Kabra, DR Date of Hearing : 14/09/2021 Date of pronouncement : 12/11/2021 ORDER PER S. RIFAUR RAHMAN, A.M. The present appeal is filed by the assessee against the order of th…

Indian Rare Earths Ltd., Mumbai vs. DCIT, Cir. 1 (2)(1), Mumbai

In the result, the appeal is allowed in the terms indicated above

…only elementary that the reasons recorded for reopening the assessment are to be read as they exist and nothing can be added to and deleted from the same, as held by Hon’ble jurisdictional High Court in the case of Hindustan Lever Ltd vs R. B. Wadkar [(2004) 268 ITR 332 (Bom)]. Suffice to note, therefore, that the reason recorded did not lead to the inference that income has escaped assessment. That leaves us with the alleged escapement of income of Rs. 1,69,32,218/- on account of village development expenses. The material on record before the Assessing Officer clearly showed that these expenses were incurred as…