Jay Ma Durga Buildtech P. Ltd, Mumbai vs. DCIT Cen Cir 7(3), Mumbai
In the result, the appeal of assessee is allowed
ITA 2720/MUM/2017[2008-09]Status: DisposedITAT Mumbai17 Apr 2018AY 2008-09
Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Jay Maa Durga Buildtech The Deputy Commissioner Private Limited (Merged With Of Income Tax, Cc-7(3), Lodha Construction Private Room No. 655, Aayakar Limited) Bhavan, M.K. Road, Vs. 412, Floor-4, 17G Vardhaman Mumbai-400 020 Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai-400 001 Appellant .. Respondent Pan No. Aabcj7826P
For Appellant: Arvind Sandhe, ARFor Respondent: Bhupendra
Section 132Section 143(3)Section 147Section 148Section 153ASection 153CSection 92ASection 92E
…r. Samyak Vera has become available to the Assessing Officer only due to the related documents found during the course of research at the office premises of M/s. Lodha Developers Ltd. 4.7. As held by Calcutta High Court in the case of H.A. Nanji & Co. vs. ITO 120 ITR 593. at the time of issue of notice it is not incumbent on the ITO to come to a conclusive finding that income has escaped assessment Such belief obviously at that stage is a tentative belief on the basis of materials before him to be examined and scrutinized on such evidence as may be available in the proceeding for reassessment. Further, the follow…
