M/s. Coronation Agro Industries Ltd. v. DCIT

390 ITR 464High Court2017#3053 most cited

What is M/s. Coronation Agro Industries Ltd. v. DCIT authority for?

Reassessment proceedings are invalid if initiated solely on the basis of a 'reason to suspect' rather than a properly formed 'reason to believe', indicating a lack of application of mind and failure to consider tangible material.

39

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2018 to 2025.

Also referred to as

Coronation Agro Industries Ltd. v. DCIT · section 147 · section 148 · reason to believe · reason to suspect · non-application of mind · tangible material · income escaping assessment · beyond four years · kelvinator

Sections most often in play

Section 147Section 143(3)Section 148Section 133ASection 143(1)Section 68Section 115BBESection 151

Issues it is cited on

section 148(2)kelvinatorlive linksection 151(1)beyond four yearsassistant directorbook profitsincome escaping assessmentnon-application of mindtangible materialescapement of incomereason to believe

Judgments citing M/s. Coronation Agro Industries Ltd. v. DCIT

Lekhraj Jasraj Jain, Mumbai vs. DCIT 19(1), Mumbai

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

ITA 4937/MUM/2025[2014-15]Status: DisposedITAT Mumbai12 Nov 2025AY 2014-15

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2014-15

For Respondent: Mr. Suchek Anchaliay &
Section 147Section 68Section 69C

…onduct further inquiries, such reopening is without facts or conduct further inquiries, such reopening is without jurisdiction. Similarly, in jurisdiction. Similarly, in Coronation Agro Industries Ltd. v. DCIT ndustries Ltd. v. DCIT Lekhraj J. Jain 11 (2017) 390 ITR 464 (Bom) and (2017) 390 ITR 464 (Bom) and PCIT v. Shodiman Investments (P) Ltd. PCIT v. Shodiman Investments (P) Ltd. (ITA No. 1297 of 2015, judgment dated 16.04.2018, Bom HC), it has (ITA No. 1297 of 2015, judgment dated 16.04.2018, Bom HC), it has (ITA No. 1297 of 2015, judgment dated 16.04.2018, Bom HC), it has been held that reassessment proceed…

Narendra Kachrulal Abad, Jalna vs. Income-Tax Officer, Ward - 1, Jalna

In the result, appeal of the assessee partly allowed

ITA 866/PUN/2019[2009-10]Status: DisposedITAT Pune06 Oct 2025AY 2009-10

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.866/Pun/2019 निर्धारण वषा / Assessment Year: 2009-10 Shri Narendra Kachrulal Abad, V The Income Tax Officer, Abad House, Nal Galli, S Ward-1, Jalna. Kadrabad, Jalna – 431203. Maharashtra. Pan: Acspa9531C Appellant/ Assessee Respondent / Revenue Assessee By Shri Hari Krishan – Ar Revenue By Shri Arvind Renge –Addl.Cit(Dr) Date Of Hearing 28/07/2025 Date Of Pronouncement 06/10/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeal)-1, Aurangabadpassed Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2009-10 Dated 30.03.2019, Emanating From Order U/S.143(3) R.W.S 147Of The Income Tax Act, 1961, Dated 03.11.2017. The Assessee Has Raised The Following Concise Grounds Of Appeal :

Section 143(3)Section 148Section 250

…Thus, the above recording does not satisfyrequirement of law mandatory for assuming jurisdiction to reopen the assessment. My above view is supported by the decision of the Bombay High Court in the case of Coronation Agro Industries Ltd. Vs. DCIT reported in 390 ITR 464. Therefore, the reassessment order passed pursuant to the above recording is hereby quashed and ground of the appeal of the assessee is allowed.” 14. No contrary decision has been brought to our notice by ld.DR for the Revenue. 22 ITA No.866/PUN/2025 [A] 15. In these facts and circumstances of the case, respectfully following the Hon’ble Bomba…

Anusha Finvest Pvt Ltd, Jaipur vs. Assistant Commissioner of Income Tax Circle 1, Jaipur

In the result, the appeal of the assessee is allowed

ITA 985/JPR/2024[2010-2011]Status: DisposedITAT Jaipur10 Sept 2025AY 2010-2011

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Sh. Saurav Harsh, AdvFor Respondent: Sh. Gautam Singh Choudhary, JCIT
Section 142(1)Section 143(1)Section 143(2)Section 147Section 148

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”SMC” JAIPUR Jh jkBkSM+ deys'k t;UrHkkbZ] ys[kk lnL; ,o Jh ujsUnz dqekj] U;kf;d lnL; ds le{k BEFORE: SHRI RATHOD KAMLESH JAYANTBHAI, AM & SHRI NARINDER KUMAR, JM vk;dj vihy la-@ITA No. 985/JP/2024 fu/kZkj.k o"kZ@Assessment Year : 2010-11 cuke Anusha Finvest Pvt. Ltd. ACIT, Vs. 1903, Patwon Ka Rasta SMS Circle-01, Highway Jaipur Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AABCA3673R vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Saurav Harsh, Adv. jktLo dh vksj ls@ Revenue by :…

DCIT, Circle- 24(2), New Delhi vs. Superstar Innovation Pvt. Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 834/DEL/2018[2009-10]Status: DisposedITAT Delhi04 Sept 2025AY 2009-10

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.834/िद"ी/2018(िन.व. 2009-10) Deputy Commissioner Of Income Tax, Circle-24(2), R. No. 328, C.R Building, I.P Estate, ...... अपीलाथ"/Appellant New Delhi बनाम Vs. M/S. Superstar Innovation Pvt. Ltd., D-6/6032/2, Ground Floor, Vasant Kunj, New Delhi 110070 ..... "ितवादी/Respondent Pan: Aabcs 7795 Q Co No. 141/Del/2023 (A.Y.2009-10) In Ita No. 834/Del/2018 M/S. Superstar Innovation Pvt. Ltd., D-6/6032/2, Ground Floor, Vasant Kunj, New Delhi 110070 ...... अपीलाथ"/Appellant Pan: Aabcs 7795 Q बनाम Vs. Deputy Commissioner Of Income Tax, Circle-24(2), R. No. 328, C.R Building, I.P Estate, ..... "ितवादी/Respondent New Delhi अपीलाथ" "ारा/ Appellant By : Dr. Rakesh Gupta, S/Shri Somil Agarwal, Deepesh Garg & Shrey Jain, Advocates "ितवादी"ारा/Respondent By : Ms. Maninder Kaur & Ms. Neeju Gupta, Sr. Dr सुनवाई क" ितिथ/ Date Of Hearing : 06/06/2025 घोषणा क" ितिथ/ Date Of Pronouncement : : 04/09/2025

For Appellant: Dr. Rakesh Gupta, S/Shri Somil AgarwalFor Respondent: Ms. Maninder Kaur &
Section 143(3)Section 147Section 148

…Counsel for the assessee is, the reassessment proceedings are liable to be quashed as assessment cannot be reopened merely on the basis of CCM. In support of his contentions he placed reliance on following decisions:- (i) Coronation Agro Industries Ltd. DCIT, 390 ITR 464 (Bom.); (ii) M/s Vayoo Nandan Finance Company P. Ltd., vs. ITO, in ITA No. 3097/Del/2019 decided on 23.01.2024 (Del.) 4.2. The third limb of argument of ld. Counsel for the assesee emanates from the ground raised in cross objections. The ld. Counsel for the assessee submits that the AO was required to decide objections of the assessee against reo…

Falgun Mahesh Oza, Mumbai vs. ITO Ward 22(1)(1), Mumbai

In the result, grounds of appeal of assesse is allowed

ITA 2970/MUM/2025[2009-10]Status: DisposedITAT Mumbai25 Aug 2025AY 2009-10

Bench: Shri Pawan Singh(Physical Hearing) Falgun Mahesh Oza Ito, Ward – 22(1)(1), Mumbai 3Rdfloow, Nandan Villa Model Town Vs Society Chs, Gulmohar Cross Road No. 7, Jvpd Scheme, Juhu, Mumbai – 400049. [Pan: Aaapo 0474 A] Appellant / Assessee Respondent / Revenue

Section 143(1)Section 147Section 148Section 254(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER (Physical hearing) Falgun Mahesh Oza ITO, Ward – 22(1)(1), Mumbai 3rdFloow, Nandan Villa Model Town Vs Society CHS, Gulmohar Cross Road No. 7, JVPD Scheme, Juhu, Mumbai – 400049. [PAN: AAAPO 0474 A] Appellant / Assessee Respondent / Revenue Assessee by Miss Kinjal Bhuta, Advocate Revenue by Shri Surendra Mohan, Sr. DR Date of Institution 29.04.2025 Date of hearing 22.07.2025 Date of pronouncement 25.08.2025 Order under section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER; 1. This appeal by assessee i…

Mukesh Jain HUF, Jaipur vs. DCIT, Jaipur

In the result, the appeal of the assessee is allowed

ITA 620/JPR/2025[2010-11]Status: DisposedITAT Jaipur06 Aug 2025AY 2010-11

Bench: Reopening The Assessment & Without Independent Application Of Mind. Thus, The Action Of The Ld. Ao In Reopening The Assessment U/S 148 & The Consequent Reassessment Order So Passed Deserves To Be Held Bad In Law.

For Appellant: Sh. Tarun Mittal, CAFor Respondent: MS. Alka Gautam, CIT-DR
Section 143(3)Section 147Section 148Section 68

…आयकर अपीलीय अधिकरण, जयपुर न्यायपीठ, जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, "B" JAIPUR डा० एस. सीतालक्ष्मी, न्यायिक सदस्य एवं श्री राठोड कमलेश जयन्तभाई, लेखा सदस्य के समक्ष BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA No. 620/JP/2025 निर्धारण वर्ष / Assessment Year : 2010-11 M/s Mukesh Jain HUF 1-12A, 1st Avenue, Lal Bahadur Nagar, JLN Marg, Jaipur बनाम DCIT, Circle-06, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AADHM6397P अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by : Sh. Tarun Mittal, CA राजस्व की ओर से…

ACIT Circle 4(3)(1), Mumbai vs. Johnson Dye Works Pvt Ltd, Mumbai

In the result, the appeal filed by the revenue is hereby dismissed

ITA 1118/MUM/2024[2012-13]Status: DisposedITAT Mumbai30 Apr 2025AY 2012-13

Bench: Ms. Kavitha Rajagopal, Jm & Shri. Prabhash Shankar, Am Acit Circle 4(3)(1), Mumbai Johnson Dye Works Pvt. Ltd. Aayakar Bhavan, M. K. Road, Ground Floor, New Era House, Churchgate – 400020. Vs. Mogul Lane, Matunga (W), Mumbai – 400016. Pan/Gir No. Aaacj2082J (Assessee) : (Respondent) Assessee By : Shri. Jayesh Dadia/Samir Shah Respondent By : Shri. Ajay Singh (Sr. Dr) Date Of Hearing : 04.02.2025 Date Of Pronouncement : 30.04.2025 O R D E R Per Kavitha Rajagopal, J M: This Appeal Has Been Filed By The Assessee, Challenging The Order Of The Learned Commissioner Of Income Tax (Appeals) Delhi (‘Ld. Cit(A)’ For Short), National Faceless Appeal Centre (‘Nfac’ For Short) Passed U/S. 250 Of The Income Tax Act, 1961 (‘The Act'), Pertaining To The Assessment Year (‘A.Y.’ For Short) 2012-13. 2. The Revenue Has Raised The Following Grounds Of Appeal Along With Additional Grounds Of Appeal: “1. Whether On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit (A) Has Erred In Deleting Transactions Of Rs. 2,12,42,250/-In Nsel Exchange As Client Code Modification Transaction For Shifting Of Profit/ Loss Added To The Income Of The Assessee Relying On The Decision In The Case Of Coronation Agro Industries Ltd. Vs. Dcit 390 Itr 464 (Bom.) Without Going Into The Merits Of The Case? Johnson Dye Works Pvt. Ltd.

For Appellant: Shri. Jayesh Dadia/Samir ShahFor Respondent: Shri. Ajay Singh (Sr. DR)
Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 148Section 250

…A) has erred in deleting transactions of Rs. 2,12,42,250/-in NSEL Exchange as Client Code Modification Transaction for shifting of profit/ loss added to the income of the assessee relying on the decision in the case of Coronation Agro Industries Ltd. vs. DCIT 390 ITR 464 (Bom.) without going into the merits of the case? Johnson Dye Works Pvt. Ltd. 2. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT (A) has erred in deleting commission at 5 percentage of the client code modification transaction at Rs. 10,62,113/ relying on the decision in the case of Coronation Agro Industries Ltd…

Sharda Kanoria, Kolkata vs. ACIT, Cir-30, Kolkata.

In the result, appeal of the assessee isallowed

ITA 797/KOL/2023[2009-10]Status: DisposedITAT Kolkata07 Oct 2024AY 2009-10

Bench: Shri Manish Borad, Accountant Member Shri Sonjoy Sarma (Judicial Member)

Section 139(1)Section 142(3)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”BENCH KOLKATA Shri Manish Borad, Accountant Member Shri Sonjoy Sarma, Judicial Member I.T.A. No.797/Kol/2023 Assessment Year: 2009-10 Sharda Kanoria, 35- Tirumula, Ballygunge Park, Ballygunge, Kolkata - 700019 [PAN: AFTPK2961G] ….......................…...……………....Appellant vs. Assistant Commissioner of Income Tax, Circle – 30 Kolkata, Office of the Asst. Commissioner of Income-tax, 2, Gariahat Road (South) Kolkata – 700068 .....…..........................…..…..... Respondent Appearances by: Assesseerepresented by :Puja Somani, AR Department represented by :Amuldeep Kaur,…

Preet International Pvt Ltd, New Delhi vs. ACIT Circle-20(1), New Delhi

In the result, the appeal of the assessee is allowed

ITA 3600/DEL/2019[2010-11]Status: DisposedITAT Delhi28 Aug 2024AY 2010-11

Bench: Shri M. Balaganesh & Shri Vimal Kumarpreet International Pvt. Ltd, Vs. Acit, 240, Ff, Dda Office Complex Circle-20(1), Cycle Market, Jhandewalan New Delhi Extn, New Delhi (Appellant) (Respondent) Pan: Aaaco9321J Assessee By : Shri Ved Jain, Adv Ms. Supriya Mehta, Ca Revenue By: Shri Vivek Vardha, Sr. Dr Date Of Hearing 05/06/2024 Date Of Pronouncement 28/08/2024

For Appellant: Shri Ved Jain, AdvFor Respondent: Shri Vivek Vardha, Sr. DR
Section 143(3)Section 147Section 148

…ted that there is no live link or direct nexus between alleged material and, inference drawn by the Assessing Officer. The learned Counsel relied on decision of Hon'ble Bombay High Court in the case of M/s. Coronation Agro Industries Ltd. vs. DCIT reported in 390 ITR 464 and following decisions of the Tribunal to support his contentions: 1. ITA No. 6809/D/2018 dated 22.10.2019 Simmi Sethi vs. ITO (pages 53-56 of JPB) 2. ITA No. 4542/D/2018 dated 29.11.2018 Radiance Stock Traders (P) Ltd. vs. ITO (pages 1-25 of JPB) 3. ITA No. 6628/D/2018 dated 12.4.2019 Kamal Kishoree Aggarwal vs. ACIT (pages 92-111 of JPB) 4. IT…

Gokul Fuelchem Private Limited, Mumbai vs. National Faceless Assement Centre, Delhi

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

ITA 187/MUM/2024[2015-16]Status: DisposedITAT Mumbai29 Jul 2024AY 2015-16

Bench: SHRI B.R. BASKARAN (Accountant Member), SHRI ANIKESH BANERJEE (Judicial Member)

Section 144

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G’ BENCH MUMBAI BEFORE: SHRI B.R. BASKARAN, ACCOUNTANT MEMBER & SHRI ANIKESH BANERJEE, JUDICIAL MEMBER M/s. Gokul Fuelchem Vs. National Faceless Private Limited Assessment Centre 6/6, Bhagwati Delhi Apartment, S.V. Road Malad West Maharashtra-400 064 PAN/GIR No.AADCG2015K (Appellant) .. (Respondent) Assessee by Shri Vimal Punamiya & Shri Rahul Punmiya Revenue by Shri Dinesh A Chourasia Date of Hearing 30/05/2024 Date of Pronouncement 29/07/2024 आदेश / O R D E R PER B.R. BASKARAN (A.M): The assessee has filed this appeal challenging the order dated 20-12-2023 passed by…

Anavya Investments Pvt. Ltd., New Delhi vs. ITO Ward-2(4), New Delhi

In the result, appeal of the assessee is allowed

ITA 4828/DEL/2019[2010-11]Status: DisposedITAT Delhi08 Apr 2024AY 2010-11

Bench: Shri C. N. Prasad & Shri M. Balaganeshm/S. Anavya Investments Pvt. Ltd, Vs. Ito, C/O. Sanjay & Sanjay, A-1-A, 14B, Ward-2(4), Janakpuri, New Delhi New Delhi (Appellant) (Respondent) Pan:Aahc4820A Assessee By : Shri Sanjay Garg, Ca Shri Akarsh Garg, Adv Revenue By: Shri Kanv Bali, Sr. Dr Date Of Hearing 11/01/2024 Date Of Pronouncement 08/04/2024

For Appellant: Shri Sanjay Garg, CAFor Respondent: Shri Kanv Bali, Sr. DR
Section 115JSection 139(1)Section 143(3)Section 147Section 148Section 68

…Ltd. Vs ITO in ITA Nos. 3059 & 3060/Del/2018,order dated 16.01.2019, the Tribunal dealt with the similar issuance of notice u/s 148 of the Act by following the decision of the Hon‟ble Bombay High Court in the case of Coronation „Agro Industries Ltd. Vs. DCIT 390 ITR 464 (Bom.). In that case, the reasons recorded were asunder: ……………….. 10. A perusal of the above, shows that Client Code Modification is legally permissible in case of mistake. In the instant case, the observation of the Assessing Officer is to the effect that due to Client Code Modification in two transactions, the assessee‟s income was reduced by R…

Vayoo Nandan Finance Company Pvt Ltd, New Delhi vs. ITO Ward 26(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 3097/DEL/2019[2009-10]Status: DisposedITAT Delhi23 Jan 2024AY 2009-10

Bench: Shri M. Balaganeshm/S. Vayoo Nandan Finance Vs. Ito, Company Pvt. Ltd, Ward-26(2), B-6, Ganpati Apartment, 6, New Delhi Alipur Road, Civil Lines, New Delhi Pan: Aaavc0737F Assessee By : Dr. Rakesh Gupta, Adv Shri Shrey Jain, Adv Revenue By: Ms. Kirti Sankratyayan, Sr. Dr Date Of Hearing 04/01/2024 Date Of Pronouncement 23/01/2024

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Ms. Kirti Sankratyayan, Sr. DR
Section 143(1)Section 143(3)Section 147Section 148

…ted that there is no live link or direct nexus between alleged material and, inference drawn by the Assessing Officer. The learned Counsel relied on decision of Hon'ble Bombay High Court in the case of M/s. Coronation Agro Industries Ltd. vs. DCIT reported in 390 ITR 464 and following decisions of the Tribunal to support his contentions: 1. ITA No. 6809/D/2018 dated 22.10.2019 Simmi Sethi vs. ITO (pages 53-56 of JPB) 2. ITA No. 4542/D/2018 dated 29.11.2018 Radiance Stock Traders (P) Ltd. vs. ITO (pages 1-25 of JPB) 3. ITA No. 6628/D/2018 dated 12.4.2019 Kamal Kishoree Aggarwal vs. ACIT (pages 92-111 of JPB) 4. IT…

Suksham Finlease & Investment P.Ltd, New Delhi vs. ITO, Ward-24(3), New Delhi

In the result, appeal of the assessee is allowed

ITA 8321/DEL/2018[2009-10]Status: DisposedITAT Delhi08 Jan 2024AY 2009-10
Section 147Section 151Section 234BSection 69C

…ted that there is no live link or direct nexus between alleged material and, inference drawn by the Assessing Officer. The learned Counsel relied on decision of Hon'ble Bombay High Court in the case of M/s. Coronation Agro Industries Ltd. vs. DCIT reported in 390 ITR 464 and following decisions of the Tribunal to support his contentions: 1. ITA No. 6809/D/2018 dated 22.10.2019 Simmi Sethi vs. ITO (pages 53-56 of JPB) 2. ITA No. 4542/D/2018 dated 29.11.2018 Radiance Stock Traders (P) Ltd. vs. ITO (pages 1-25 of JPB) 3. ITA No. 6628/D/2018 dated 12.4.2019 Kamal Kishoree Aggarwal vs. ACIT (pages 92-111 of JPB) 4. IT…

Jean Antony Sequeira, Mumbai vs. Income Tax Officer-24(2)(2), Mumbai

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 2009/MUM/2023[2009-2010]Status: DisposedITAT Mumbai18 Dec 2023AY 2009-2010

Bench: Shri Amarjit Singhjean Antony Sequeira Vs. Income Tax Officer - Flat No. 702, 7Th Floor, 24(2)(2), Green Wood, I Wing, 514, 5Th Floor, Piramal Andheri Kurla Road, Chambers, Lal Baugh, Chakala, Andheri (E), Parel, Mumbai – 400 059 Mumbai – 400012 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Abfps0055B Appellant .. Respondent Appellant By : K. Gopal A/W Om Kandalkar Respondent By : Prakash Kishinchandani Date Of Hearing 26.09.2023 Date Of Pronouncement 18.12.2023

For Appellant: K. Gopal a/wFor Respondent: Prakash Kishinchandani
Section 133Section 133ASection 143(1)Section 148

…P a g e | 1 Jean Antony Sequerira Vs. ITO 24(2)(2) IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Jean Antony Sequeira Vs. Income Tax Officer - Flat No. 702, 7th Floor, 24(2)(2), Green Wood, I Wing, 514, 5th Floor, Piramal Andheri Kurla Road, Chambers, Lal Baugh, Chakala, Andheri (E), Parel, Mumbai – 400 059 Mumbai – 400012 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No:ABFPS0055B Appellant .. Respondent Appellant by : K. Gopal a/w Om Kandalkar Respondent by : Prakash Kishinchandani Date of Hearing 26.09.2023 Date of Pronouncement 18.12.2023 आदेश / O R D E R Per…

Shri Hitesh Jawrilal Jain, Mumbai vs. ITO, Ward-21(1)(4), Mumbai

ITA 1450/MUM/2023[2010-11]Status: DisposedITAT Mumbai29 Aug 2023AY 2010-11
For Appellant: Shri Ketan Vajani, A.RFor Respondent: Shri B. Laxmi Kanth, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “SMC”, MUMBAI SHRI KULDIP SINGH, JUDICIAL MEMBER Assessment Year: 2010-11 M/s. Hitesh Jawrilal Jain, Income Tax Officer, A-18, Nandan Co. Op. Ward-21(1)(4), Hsg. Soc., Piramal Chambers, Vs. 224, Veer Savarkar Marg, Lalbaug, Parel, Mahim, Mumbai-400 012 Mumbai- 400 016 PAN: ABOPJ6744M (Appellant) (Respondent) Present for: Assessee by : Shri Ketan Vajani, A.R. Revenue by : Shri B. Laxmi Kanth, D.R. Date of Hearing : 13 . 07 . 2023 Date of Pronouncement : 29 . 08 . 2023 O R D E R Per : Kuldip Singh, Judicial Member: The appellant, M/s. Hitesh Jawrilal Jain (…

Omega Finhold Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 14, New Delhi

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

ITA 1286/DEL/2018[2010-11]Status: DisposedITAT Delhi27 Jul 2023AY 2010-11
Section 115JSection 147Section 148

…ted that there is no live link or direct nexus between alleged material and, inference drawn by the Assessing Officer. The learned Counsel relied on decision of Hon’ble Bombay High Court in the case of M/s. Coronation Agro Industries Ltd. vs. DCIT reported in 390 ITR 464 and following decisions of the Tribunal to support his contentions: 1. ITA No. 6809/D/2018 dated 22.10.2019 Simmi Sethi vs. ITO (pages 53-56 of JPB) 2. ITA No. 4542/D/2018 dated 29.11.2018 Radiance Stock Traders (P) Ltd. vs. ITO (pages 1-25 of JPB) 3. ITA No. 6628/D/2018 dated 12.4.2019 Kamal Kishoree Aggarwal vs. ACIT (pages 92-111 of JPB) 4. IT…

Dinesh Mulji Patel, Nashik vs. Income Tax Officer, Ward 2(2), Nashik

In the result, the appeal filed by the assessee in ITA

ITA 400/PUN/2023[2012-13]Status: DisposedITAT Pune04 Jul 2023AY 2012-13

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita Nos.399 & 400/Pun/2023 िनधा"रण वष" / Assessment Years : 2009-10 & 2012-13 Dinesh Mulji Patel, Vs. Ito, Ward-2(2), Nashik. Ground Floor, Ishwari Apartment, Bagmar Lane, Tilakwadi, Nashik- 422002. Pan : Aigpp8011N Appellant Respondent Assessee By : Shri Pramod Shingte Revenue By : Shri Rajesh Gawali Date Of Hearing : 19.06.2023 Date Of Pronouncement : 04.07.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Assessee Directed Against The Separate Orders Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 20.03.2023 & 08.03.2023 For The Assessment Years 2009-10 & 2012-13 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.399/Pun/2023 For The Assessment Year 2009-10 Are Stated Herein.

For Appellant: Shri Pramod ShingteFor Respondent: Shri Rajesh Gawali
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA Nos.399 & 400/PUN/2023 िनधा"रण वष" / Assessment Years : 2009-10 & 2012-13 Dinesh Mulji Patel, Vs. ITO, Ward-2(2), Nashik. Ground Floor, Ishwari Apartment, Bagmar Lane, Tilakwadi, Nashik- 422002. PAN : AIGPP8011N Appellant Respondent Assessee by : Shri Pramod Shingte Revenue by : Shri Rajesh Gawali Date of hearing : 19.06.2023 Date of pronouncement : 04.07.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: These are the appeals filed by the assessee directed against the separate orders of the Nat…

Dinesh Mulji Patel, Nashik vs. The Income Tax Officer, Ward 2(2), Nashik.

In the result, the appeal filed by the assessee in ITA

ITA 399/PUN/2023[2009-10]Status: DisposedITAT Pune04 Jul 2023AY 2009-10

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita Nos.399 & 400/Pun/2023 िनधा"रण वष" / Assessment Years : 2009-10 & 2012-13 Dinesh Mulji Patel, Vs. Ito, Ward-2(2), Nashik. Ground Floor, Ishwari Apartment, Bagmar Lane, Tilakwadi, Nashik- 422002. Pan : Aigpp8011N Appellant Respondent Assessee By : Shri Pramod Shingte Revenue By : Shri Rajesh Gawali Date Of Hearing : 19.06.2023 Date Of Pronouncement : 04.07.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Assessee Directed Against The Separate Orders Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 20.03.2023 & 08.03.2023 For The Assessment Years 2009-10 & 2012-13 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.399/Pun/2023 For The Assessment Year 2009-10 Are Stated Herein.

For Appellant: Shri Pramod ShingteFor Respondent: Shri Rajesh Gawali
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA Nos.399 & 400/PUN/2023 िनधा"रण वष" / Assessment Years : 2009-10 & 2012-13 Dinesh Mulji Patel, Vs. ITO, Ward-2(2), Nashik. Ground Floor, Ishwari Apartment, Bagmar Lane, Tilakwadi, Nashik- 422002. PAN : AIGPP8011N Appellant Respondent Assessee by : Shri Pramod Shingte Revenue by : Shri Rajesh Gawali Date of hearing : 19.06.2023 Date of pronouncement : 04.07.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: These are the appeals filed by the assessee directed against the separate orders of the Nat…

Bharati Hemant Chheda, Mumbai vs. Income Tax Officer 29(1)(2), Mumbai

In the result, grounds pertaining to re-opening of the case and consequent additions made are set-aside

ITA 197/MUM/2023[2010-2011]Status: DisposedITAT Mumbai15 May 2023AY 2010-2011

Bench: Shri Kuldip Singh & Shri Gagan Goyalbharti Hemant Chheda B-30, Konark Indraprastha Chs Ltd Sarvodaya Nagar, Jain Mandir Road Mulund (W), Mumbai-400 080 Pan: Aadpc1013E ...... Appellant Vs. Ito 29(1)(2), Bandra Kurla Complex, Bandra(E), Mumbai-400 051 ..... Respondent

For Appellant: Shri Nishit GandhiFor Respondent: Shri Chetan M. Kacha, Sr. AR
Section 143(3)Section 148Section 250

…that there is any live link or direct nexus between alleged material and, inference drawn by the Assessing Officer. On this issue we relied upon the decision of Hon’ble Bombay High Court in the case of M/s. Coronation Agro Industries Ltd. vs. DCIT reported in 390 ITR 464. 8 Bharati Hemant Chheda 8. We note that the reasons in support of the impugned notice accept the fact that as a matter of regular business practice, a broker in the stock exchange makes modifications in the client code on sale and/or purchase of any securities, after the trading is over so as to rectify any error which may have occurred while pu…

Globus Power Generation Ltd (Formely Known As Cumulative Investments & Trading Co. Pvt Ltd), New Delhi vs. ACIT Circle-6(2), New Delhi

In the result, appeal of the assessee is allowed

ITA 6438/DEL/2019[2009-10]Status: DisposedITAT Delhi03 May 2023AY 2009-10

Bench: Shri C.M. Garg & Shri M. Balaganeshglobus Power Generation Ltd Vs. Acit, (Formerly Known As Cumulative Circle-6(2), Investments & Trading Co. Pvt. Ltd, New Delhi A-60, Naraina Industrial Area, Phase-1, New Delhi-110028 (Appellant) (Respondent) Pan: Aaacg6734E

For Appellant: Sh. Ritesh Bajaj, AdvFor Respondent: Sh. Vipul Kashyap, Sr. DR
Section 133ASection 143(3)Section 147Section 148

…ted that there is no live link or direct nexus between alleged material and, inference drawn by the Assessing Officer. The learned Counsel relied on decision of Hon‟ble Bombay High Court in the case of M/s. Coronation Agro Industries Ltd. vs. DCIT reported in 390 ITR 464 and following decisions of the Tribunal to support his contentions: 1. ITA No. 6809/D/2018 dated 22.10.2019 Simmi Sethi vs. ITO (pages 53-56 of JPB) 2. ITA No. 4542/D/2018 dated 29.11.2018 Radiance Stock Traders (P) Ltd. vs. ITO (pages 1-25 of JPB) 3. ITA No. 6628/D/2018 dated 12.4.2019 Kamal Kishoree Aggarwal vs. ACIT (pages 92-111 of JPB) 4. IT…

M/s. Coronation Agro Industries Ltd. v. DCIT (390 ITR 464) — Cited in 39 Judgments | BharatTax