Lodha Builders (P) Ltd. v. ACIT

DCIT Cen Cir 7(3), Mumbai vs. Macrotech Construction P.Ltd, Mumbai

In the result , both the appeals of the revenue are dismissed

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI AMARJIT SINGH, JUDICIAL MEMBER & DCIT, Central Corcle-7(3) Vs. M/s. Macrotech Developers Room No.655, 6th Floor Limited (Successor to Macrotech Aayakar Bhavan Construction Pvt. Ltd., M.K.Road, 216, Shah and Nahar Industrial Mumbai – 400 020 Road, Off. Dr. E.Moses Road Worli, Mumbai-400 018 PAN/GIR No.AAACM6092K (Appellant) .. (Respondent) Revenue by Dr. R. Madhavi Assessee by Shri Vijay Mehta Date of Hearing 01/02/2021 Date of Pronouncement 08/04/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): These…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Home Developers P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Builders P. Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Designer Construction P. Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Designer Construction P. Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Designer Construction P. Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Estate P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Estate P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Estate P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Home Developers P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Palazzo, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Home Developers P. Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Estates P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Builders P. Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Hi Rise Builders P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Land Developers P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Land Developers P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Land Developers P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Land Developers P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…

DCIT Cen Cir 7(3), Mumbai vs. Lodha Finstock P.Ltd, Mumbai

In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…ises, levy of penalty u/ss. 271D of the Act is not automatic, but the genuineness or otherwise of the reasons due to which repayment was made by journal entry has to be considered judiciously. 7. In the order reported as Lodha Builders (P) Ltd. v. ACIT [2014] 163 TTJ 778 (Mum), a bunch of appeals belonging to Lodha group (to which the present assessee belongs) involving identical issue, was disposed of by the coordinate Bench in which levy of similar penalties was held to be not sustainable as 21 & other 39 files M/s. Lodha Builders (P.) Ltd & other group companies there was a reasonable cause, copies of which h…