ITO v. Gurunanak Oil Agency

35 Taxmann 562Reported decision2013#8421 most cited

What is ITO v. Gurunanak Oil Agency authority for?

Penalty under Section 271(1)(c) is not attracted when income is added on an estimation basis and the addition has been substantially reduced by the Tribunal.

13

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2025.

Also referred to as

ITO v. Gurunanak Oil Agency · 271(1)(c) · penalty · concealment of income · furnishing incorrect particulars · estimation basis · addition reduced by Tribunal

Sections most often in play

Section 133(6)Section 145(3)Section 271(1)(c)Section 143(3)Section 147Section 271(1)(c) Explanation 1Section 44AD

Judgments citing ITO v. Gurunanak Oil Agency

Income Tax Officer- 23(3)(1), Mumbai vs. Tisya Jewels, Mumbai

In the result, both the appeals of the Revenue are accordingly partly allowed

ITA 870/MUM/2025[2012-13]Status: DisposedITAT Mumbai27 Jun 2025AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5Th Floor, Piramal Chambers, Vs. Waterfield Road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 Pan No. Aadft 8056 G Appellant Respondent Assessee By : Mr. Nishit Gandhi A/W Ms. Aadnya Bhandari Revenue By : Mr. Hemanshu Joshi, Cit-Dr

For Appellant: Mr. Nishit Gandhi a/wFor Respondent: Mr. Hemanshu Joshi, CIT-DR
Section 271(1)(c)Section 298

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI ANIKESH BANERJEE (JUDICIAL MEMBER) Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5th Floor, Piramal Chambers, Vs. Waterfield road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 PAN NO. AADFT 8056 G Appellant Respondent Assessee by : Mr. Nishit Gandhi a/w Ms. Aadnya Bhandari Revenue by : Mr. Hemanshu Joshi, CIT-DR Date of Hearing : 18/06/2025 Date of pronouncement : 27/06/2025 ORDER PER OM PRAKASH KANT, AM…

Income Tax Officier- 23(3)(1), Mumbai vs. Tisya Jewels, Mumbai

In the result, both the appeals of the Revenue are accordingly partly allowed

ITA 869/MUM/2025[2007-08]Status: DisposedITAT Mumbai27 Jun 2025AY 2007-08

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5Th Floor, Piramal Chambers, Vs. Waterfield Road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 Pan No. Aadft 8056 G Appellant Respondent Assessee By : Mr. Nishit Gandhi A/W Ms. Aadnya Bhandari Revenue By : Mr. Hemanshu Joshi, Cit-Dr

For Appellant: Mr. Nishit Gandhi a/wFor Respondent: Mr. Hemanshu Joshi, CIT-DR
Section 271(1)(c)Section 298

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI ANIKESH BANERJEE (JUDICIAL MEMBER) Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5th Floor, Piramal Chambers, Vs. Waterfield road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 PAN NO. AADFT 8056 G Appellant Respondent Assessee by : Mr. Nishit Gandhi a/w Ms. Aadnya Bhandari Revenue by : Mr. Hemanshu Joshi, CIT-DR Date of Hearing : 18/06/2025 Date of pronouncement : 27/06/2025 ORDER PER OM PRAKASH KANT, AM…

Rakeshkumar M. Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result all the appeals of the assessee are allowed

ITA 2600/MUM/2015[2008-09]Status: DisposedITAT Mumbai03 Feb 2017AY 2008-09

Bench: S/Shri. D.T. Garasia & Ashwani Taneja

Section 133ASection 271(1)(c)

…INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“H”BENCH Before S/Shri. D.T. Garasia, Judicial Member & Ashwani Taneja, Accountant Member ITA No.2595 to 2600 /Mum/2015 Assessment Year-2003 – 04 to 2008 – 09 Mr Rakeshkumar M.Gupta v. ITO 14(3)-2 Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli, Mumbai Pankaj Market Champa Gally Cross Lane, Mumbai – 400 002 PAN NO.AAJPG9761F (Appellant ) (Respondent) Appellant by Shri Vimal Punmiya, CA Respondent by Shri M.C. Omi Ningshen Date of hearing : 25.01.2017 Date of pronouncement : 03.02.2017 O R D E R PER BENCH: 1. All the appeals are filed by the assessee against the or…

Rakeshkumar M. Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result all the appeals of the assessee are allowed

ITA 2599/MUM/2015[2007-08]Status: DisposedITAT Mumbai03 Feb 2017AY 2007-08

Bench: S/Shri. D.T. Garasia & Ashwani Taneja

Section 133ASection 271(1)(c)

…INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“H”BENCH Before S/Shri. D.T. Garasia, Judicial Member & Ashwani Taneja, Accountant Member ITA No.2595 to 2600 /Mum/2015 Assessment Year-2003 – 04 to 2008 – 09 Mr Rakeshkumar M.Gupta v. ITO 14(3)-2 Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli, Mumbai Pankaj Market Champa Gally Cross Lane, Mumbai – 400 002 PAN NO.AAJPG9761F (Appellant ) (Respondent) Appellant by Shri Vimal Punmiya, CA Respondent by Shri M.C. Omi Ningshen Date of hearing : 25.01.2017 Date of pronouncement : 03.02.2017 O R D E R PER BENCH: 1. All the appeals are filed by the assessee against the or…

Rakeshkumar M. Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result all the appeals of the assessee are allowed

ITA 2598/MUM/2015[2006-07]Status: DisposedITAT Mumbai03 Feb 2017AY 2006-07

Bench: S/Shri. D.T. Garasia & Ashwani Taneja

Section 133ASection 271(1)(c)

…INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“H”BENCH Before S/Shri. D.T. Garasia, Judicial Member & Ashwani Taneja, Accountant Member ITA No.2595 to 2600 /Mum/2015 Assessment Year-2003 – 04 to 2008 – 09 Mr Rakeshkumar M.Gupta v. ITO 14(3)-2 Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli, Mumbai Pankaj Market Champa Gally Cross Lane, Mumbai – 400 002 PAN NO.AAJPG9761F (Appellant ) (Respondent) Appellant by Shri Vimal Punmiya, CA Respondent by Shri M.C. Omi Ningshen Date of hearing : 25.01.2017 Date of pronouncement : 03.02.2017 O R D E R PER BENCH: 1. All the appeals are filed by the assessee against the or…

Rakeshkumar M. Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result all the appeals of the assessee are allowed

ITA 2597/MUM/2015[2005-06]Status: DisposedITAT Mumbai03 Feb 2017AY 2005-06

Bench: S/Shri. D.T. Garasia & Ashwani Taneja

Section 133ASection 271(1)(c)

…INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“H”BENCH Before S/Shri. D.T. Garasia, Judicial Member & Ashwani Taneja, Accountant Member ITA No.2595 to 2600 /Mum/2015 Assessment Year-2003 – 04 to 2008 – 09 Mr Rakeshkumar M.Gupta v. ITO 14(3)-2 Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli, Mumbai Pankaj Market Champa Gally Cross Lane, Mumbai – 400 002 PAN NO.AAJPG9761F (Appellant ) (Respondent) Appellant by Shri Vimal Punmiya, CA Respondent by Shri M.C. Omi Ningshen Date of hearing : 25.01.2017 Date of pronouncement : 03.02.2017 O R D E R PER BENCH: 1. All the appeals are filed by the assessee against the or…

Rakeshkumar M. Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result all the appeals of the assessee are allowed

ITA 2596/MUM/2015[2004-05]Status: DisposedITAT Mumbai03 Feb 2017AY 2004-05

Bench: S/Shri. D.T. Garasia & Ashwani Taneja

Section 133ASection 271(1)(c)

…INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“H”BENCH Before S/Shri. D.T. Garasia, Judicial Member & Ashwani Taneja, Accountant Member ITA No.2595 to 2600 /Mum/2015 Assessment Year-2003 – 04 to 2008 – 09 Mr Rakeshkumar M.Gupta v. ITO 14(3)-2 Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli, Mumbai Pankaj Market Champa Gally Cross Lane, Mumbai – 400 002 PAN NO.AAJPG9761F (Appellant ) (Respondent) Appellant by Shri Vimal Punmiya, CA Respondent by Shri M.C. Omi Ningshen Date of hearing : 25.01.2017 Date of pronouncement : 03.02.2017 O R D E R PER BENCH: 1. All the appeals are filed by the assessee against the or…

Rakeshkumar M. Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result all the appeals of the assessee are allowed

ITA 2595/MUM/2015[2003-04]Status: DisposedITAT Mumbai03 Feb 2017AY 2003-04

Bench: S/Shri. D.T. Garasia & Ashwani Taneja

Section 133ASection 271(1)(c)

…INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“H”BENCH Before S/Shri. D.T. Garasia, Judicial Member & Ashwani Taneja, Accountant Member ITA No.2595 to 2600 /Mum/2015 Assessment Year-2003 – 04 to 2008 – 09 Mr Rakeshkumar M.Gupta v. ITO 14(3)-2 Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli, Mumbai Pankaj Market Champa Gally Cross Lane, Mumbai – 400 002 PAN NO.AAJPG9761F (Appellant ) (Respondent) Appellant by Shri Vimal Punmiya, CA Respondent by Shri M.C. Omi Ningshen Date of hearing : 25.01.2017 Date of pronouncement : 03.02.2017 O R D E R PER BENCH: 1. All the appeals are filed by the assessee against the or…

Hema R Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result, appeals of the Assessee are allowed

ITA 2643/MUM/2015[2008-09]Status: DisposedITAT Mumbai30 Dec 2016AY 2008-09

Bench: Shri C.N.Prasad,Jm & Shri Rajesh Kumar, Am Income Tax Appeal No.2594/Mum/2015 (धििाारण वर्ा / Assessment Year : 2002-03) Shri Mohit Rakesh Kumar Gupta Vs. Ito 14(3)(2) Prop. M/S Manoj Mills Earnest House Shop No.4, Ram Galli Mumbai Pankaj Market Champa Gally Cross Lane Mumbai – 400 002 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) स्र्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aajpg9761F

For Respondent: Smt Beena Santosh
Section 271(1)(c)

…आयकर अपीलीय अधिकरण “एक-सदस्य मामला” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “ SMC” BENCH MUMBAI BEFORE SHRI C.N.PRASAD,JM & SHRI RAJESH KUMAR, AM Income Tax Appeal No.2594/Mum/2015 (धििाारण वर्ा / Assessment Year : 2002-03) Shri Mohit Rakesh Kumar Gupta Vs. ITO 14(3)(2) Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli Mumbai Pankaj Market Champa Gally Cross Lane Mumbai – 400 002 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) स्र्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAJPG9761F Income Tax Appeal Nos.2640 & 2643/Mum/2015 (धििाारण वर्ा / Assessment Years : 2004-05 and 2008-09) Smt Hem…

Hema R. Gupta, Mumbai vs. ITO WD 14(3)(2), Mumbai

In the result, appeals of the Assessee are allowed

ITA 2640/MUM/2015[2004-05]Status: DisposedITAT Mumbai30 Dec 2016AY 2004-05

Bench: Shri C.N.Prasad,Jm & Shri Rajesh Kumar, Am Income Tax Appeal No.2594/Mum/2015 (धििाारण वर्ा / Assessment Year : 2002-03) Shri Mohit Rakesh Kumar Gupta Vs. Ito 14(3)(2) Prop. M/S Manoj Mills Earnest House Shop No.4, Ram Galli Mumbai Pankaj Market Champa Gally Cross Lane Mumbai – 400 002 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) स्र्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aajpg9761F

For Respondent: Smt Beena Santosh
Section 271(1)(c)

…आयकर अपीलीय अधिकरण “एक-सदस्य मामला” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “ SMC” BENCH MUMBAI BEFORE SHRI C.N.PRASAD,JM & SHRI RAJESH KUMAR, AM Income Tax Appeal No.2594/Mum/2015 (धििाारण वर्ा / Assessment Year : 2002-03) Shri Mohit Rakesh Kumar Gupta Vs. ITO 14(3)(2) Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli Mumbai Pankaj Market Champa Gally Cross Lane Mumbai – 400 002 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) स्र्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAJPG9761F Income Tax Appeal Nos.2640 & 2643/Mum/2015 (धििाारण वर्ा / Assessment Years : 2004-05 and 2008-09) Smt Hem…

Rakehskumar M. Gupta, Mumbai vs. ITO 14(3)(2), Mumbai

In the result, appeals of the Assessee are allowed

ITA 2594/MUM/2015[2002-03]Status: DisposedITAT Mumbai30 Dec 2016AY 2002-03

Bench: Shri C.N.Prasad,Jm & Shri Rajesh Kumar, Am Income Tax Appeal No.2594/Mum/2015 (धििाारण वर्ा / Assessment Year : 2002-03) Shri Mohit Rakesh Kumar Gupta Vs. Ito 14(3)(2) Prop. M/S Manoj Mills Earnest House Shop No.4, Ram Galli Mumbai Pankaj Market Champa Gally Cross Lane Mumbai – 400 002 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) स्र्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aajpg9761F

For Respondent: Smt Beena Santosh
Section 271(1)(c)

…आयकर अपीलीय अधिकरण “एक-सदस्य मामला” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “ SMC” BENCH MUMBAI BEFORE SHRI C.N.PRASAD,JM & SHRI RAJESH KUMAR, AM Income Tax Appeal No.2594/Mum/2015 (धििाारण वर्ा / Assessment Year : 2002-03) Shri Mohit Rakesh Kumar Gupta Vs. ITO 14(3)(2) Prop. M/s Manoj Mills Earnest House Shop No.4, Ram Galli Mumbai Pankaj Market Champa Gally Cross Lane Mumbai – 400 002 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) स्र्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAJPG9761F Income Tax Appeal Nos.2640 & 2643/Mum/2015 (धििाारण वर्ा / Assessment Years : 2004-05 and 2008-09) Smt Hem…

Hema R. Gupta, Mumbai vs. ITO WD 14(3)(2), Mumbai

In the result, both the appeals are allowed

ITA 2639/MUM/2015[2002-03]Status: DisposedITAT Mumbai30 Sept 2016AY 2002-03

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2002-03

For Appellant: Shri. Vimal PunamiyaFor Respondent: Captain Pradeep Arya
Section 133ASection 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2002-03 Smt. Hema R. Gupta. The ITO Wd. 14(3)(2), Prop. M/s. Shree Ram Sales & Earnesh House, Mumbai. Synthetics, Shop No. 4, Ram Galli, Vs. Pankaj Market Champa, Gally Cross Lane, Mumbai- 400 002. PAN:- AAKPG3030E (Appellant) (Respondent) & Assessment Year: 2008-09 Sh. Nilesh Rakesh Kumar Gupta. The ITO Wd. 14(3)(2), Prop. M/s. Dev Vani Insdustries, Earnesh House, Mumbai. Shop No. 4, Ram Galli, Pankaj Market Champa, Vs. Gally Cross Lane, Mumbai- 400 002. PAN:- AFUPG9510H (…

Nilesh Rakeshkumar Gupta, Mumbai vs. ITO WD 14(3)(2), Mumbai

In the result, both the appeals are allowed

ITA 2638/MUM/2015[2008-09]Status: DisposedITAT Mumbai30 Sept 2016AY 2008-09

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2002-03

For Appellant: Shri. Vimal PunamiyaFor Respondent: Captain Pradeep Arya
Section 133ASection 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2002-03 Smt. Hema R. Gupta. The ITO Wd. 14(3)(2), Prop. M/s. Shree Ram Sales & Earnesh House, Mumbai. Synthetics, Shop No. 4, Ram Galli, Vs. Pankaj Market Champa, Gally Cross Lane, Mumbai- 400 002. PAN:- AAKPG3030E (Appellant) (Respondent) & Assessment Year: 2008-09 Sh. Nilesh Rakesh Kumar Gupta. The ITO Wd. 14(3)(2), Prop. M/s. Dev Vani Insdustries, Earnesh House, Mumbai. Shop No. 4, Ram Galli, Pankaj Market Champa, Vs. Gally Cross Lane, Mumbai- 400 002. PAN:- AFUPG9510H (…

ITO v. Gurunanak Oil Agency (35 Taxmann 562) — Cited in 13 Judgments | BharatTax