ITO v. Arora Alloys Ltd.

MOHD RIZWAN MOHD KALLAN KHAN,MUMBAI vs. INCOME TAX OFFICER 26(3)(4), MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri G.S. Pannu & Shri Pawan Singhmd. Rizwan Mohd Kallan Ito 26(3)(4) Room No. 711, 7Th Floor, Khan, Plot No. 603, Flat No.13, Bldg No. 7 D, Bombay Taxi C-11, Pratyakshakar Bhavan, Men’S Co-Operative Society, Vs. Bandra (East), Mumbai-51. Lbs Marg, Kurla (West), Mumbai-400070 Pan: Agjpk2270K Appellant Respondent Appellant By : Shri Vimal Punmiya (Ar) Respondent By : Shri Rajesh Kumar Yadav (Ar) Date Of Hearing :25.04.2018 Date Of Pronouncement : 31.05.2018 Order Per Pawan Singh; 1. The Instant Appeal By Assessee Under Section 253 Of The Income-Tax Act (The Act) Is Directed Against The Order Of Ld. Commissioner Of Income-Tax

…IN THE INCOME-TAX APPELLATE TRIBUNAL “A” BENCH MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER Md. Rizwan Mohd Kallan ITO 26(3)(4) Room No. 711, 7th Floor, Khan, Plot No. 603, Flat No.13, Bldg No. 7 D, Bombay Taxi C-11, Pratyakshakar Bhavan, Men’s Co-operative Society, Vs. Bandra (East), Mumbai-51. LBS Marg, Kurla (West), Mumbai-400070 PAN: AGJPK2270K Appellant Respondent Appellant by : Shri Vimal Punmiya (AR) Respondent by : Shri Rajesh Kumar Yadav (AR) Date of Hearing :25.04.2018 Date of Pronouncement : 31.05.2018 ORDER PER PAWAN SINGH, JUDICIAL MEMBER; 1. The insta…

ASST CIT 25(2), MUMBAI vs. METCRAFT ENGINEERING CORPORATION, MUMBAI

In the result, appeal of the Revenue is dismissed

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH MUMBAI BEFORE 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) Revenue by Shri S.R.Kirtane Assessee by Dr. K. Shivaram Date of Hearing 08/12/2016 Date of Pronouncement 15 /02/2017 आदेश / O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by the Revenue against the order of CIT(A) for the Assessment year 2010-11 in the matter of order passed u/s.143(3) of the IT Act. 2. The revenue has…

DCIT 30(3), MUMBAI vs. SHIVSHANKAR R. SHARMA, MUMBAI

In the result both appeals of the revenue are dismissed

…assessee - Held, yes [Para 71 [In favour of assessee. The above decision squarely applies to the case of the assessee as entire sales in case of assessee is made to the Government. 10. Hon'ble Chandigarh Tribunal in the case of ITO vs Arora Alloys Ltd (2012) (12 ITR (Trib) 263). This decision has been affirmed by the Punjab & Haryana High Court in 370 ITR 372, wherein it was held as under:- & ITA No.4260/15 Section 69C of the Income-tax Act, 1961 - Unexplained expenditure - Assessment year 2004-05 - Where addition on account of unexplained expenditure incurred for purchase of raw material was solely based on info…

DCIT 24(2), MUMBAI vs. SHIVSHANKAR R. SHARMA, MUMBAI

In the result both appeals of the revenue are dismissed

…assessee - Held, yes [Para 71 [In favour of assessee. The above decision squarely applies to the case of the assessee as entire sales in case of assessee is made to the Government. 10. Hon'ble Chandigarh Tribunal in the case of ITO vs Arora Alloys Ltd (2012) (12 ITR (Trib) 263). This decision has been affirmed by the Punjab & Haryana High Court in 370 ITR 372, wherein it was held as under:- & ITA No.4260/15 Section 69C of the Income-tax Act, 1961 - Unexplained expenditure - Assessment year 2004-05 - Where addition on account of unexplained expenditure incurred for purchase of raw material was solely based on info…