P.R. Metrani v. CIT

Dy. Commissioner of Income Tax, Central Circle-3(3), Mumbai vs. Avaada Ventures Private Limited, Mumbai

In the result, all the appeals of the Revenue are dismissed as well as Cross Objections of the assessee are dismissed as infructuous

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S RIFAUR RAHMAN (Accountant Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No.2750/Mum/2023 (Assessment Year :2014-15) & DCIT, Central Circle-3(3) Vs. M/s. Avaada Ventures Mumbai Pvt. Ltd. Room No.1923, 406, 4th Floor, Hubtown 19th Floor Solaris Building Air India Building N S Phadke Road Mumbai – 400 021 Andheri East Mumbai – 400 069 PAN/GIR No.AAKCS9700L (Appellant) .. (Respondent) CO No.7/Mum/2024 (Arising out of ITA No.2749/Mum/2023) (Assessment Year :2013-14) & CO No.6/Mum/2024 (Arising out of ITA No.2750/Mum/2023) (Assessment Year :2014-…

Deputy Commissioner of Income Tax, Mumbai vs. Avaada Ventures Pvt. Ltd, Andheri

In the result, all the appeals of the Revenue are

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No.2749/Mum/2023 (Assessment Year :2013-14) ITA No.2750/Mum/2023 (Assessment Year :2014-15) ITA No.3613/Mum/2023 (Assessment Year :2016-17) & ITA No.4342/Mum/2023 (Assessment Year :2017-18) DCIT, Central Circle-3(3) |Vs.|M/s. Avaada Ventures Mumbai Pvt. Ltd. Room No.1923, 406, 4th Floor, Hubtown 19th Floor Solaris Building Air India Building N iS) Phadke Road Mumbai — 400 021 Andheri East Mumbai —- 400 069 PAN/GIR No.AAKCS9700L . (Respondent) CO No.7/Mum/2024 (Ari…

DCIT, Central Circle 3(3), Mumbai vs. Avaada Ventures Pvt. Ltd, Mumbai

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No.2749/Mum/2023 (Assessment Year :2013-14) ITA No.2750/Mum/2023 (Assessment Year :2014-15) ITA No.3613/Mum/2023 (Assessment Year :2016-17) & ITA No.4342/Mum/2023 (Assessment Year :2017-18) DCIT, Central Circle-3(3) Vs. M/s. Avaada Ventures Mumbai Pvt. Ltd. Room No.1923, 406, 4th Floor, Hubtown 19th Floor Solaris Building Air India Building N S Phadke Road Mumbai – 400 021 Andheri East Mumbai – 400 069 (Appellant) PAN/GIR No.AAKCS9700L (Respondent) .. CO No.7/Mum/2024 (Ari…

DCIT, Central Circle- 3(3), Mumbai vs. Avaada Ventures Pvt. Ltd, Mumbai

In the result, all the appeals of the Revenue are

…oks of account of assessee duly corroborated by the statements of various persons. 2 "On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in not considering the decision of Hon'ble Supreme Court in the case of P.R. Metrani v. CIT[2006] 287 ITR 209/157 Taxman 325 (SC) wherein the Hon'ble Supreme Court held that the books of account, documents, money, jewellery or other valuable article or thing and any statements recorded of the persons searched may be used as evidence for any proceedings under the Act." 3 "On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in holdi…

Pankaj Kantilal Shah, Mumbai vs. Dcitcc-6(3), Mumbai

In the result, all the appeals of the assessee are allowed

…/s 153C of the Act.” Identical observations have been made by Ld CIT(A) in the hands of Pankaj K Shah in the context of sec.153A also. The Ld CIT(A) also took support of the decision rendered by Hon’ble Supreme Court in the case of P.R.Metrani vs. CIT (2006)(287 ITR 209). Accordingly, the Ld CIT(A) dismissed the above said legal ground urged by these assessees in all the years under consideration. On merits also, the Ld CIT(A) confirmed the orders so passed by the AO in the years under consideration in the hands of all these assessees. Hence, these assessees are aggrieved by the above said decision of Ld CIT(A).…

Pankaj Kantilal Shah, Mumbai vs. DCIT CC-6(3), Mumbai

In the result, all the appeals of the assessee are allowed

…/s 153C of the Act.” Identical observations have been made by Ld CIT(A) in the hands of Pankaj K Shah in the context of sec.153A also. The Ld CIT(A) also took support of the decision rendered by Hon’ble Supreme Court in the case of P.R.Metrani vs. CIT (2006)(287 ITR 209). Accordingly, the Ld CIT(A) dismissed the above said legal ground urged by these assessees in all the years under consideration. On merits also, the Ld CIT(A) confirmed the orders so passed by the AO in the years under consideration in the hands of all these assessees. Hence, these assessees are aggrieved by the above said decision of Ld CIT(A).…

Pankaj Kantilal Shah, Mumbai vs. DCIT CC-6(3), Mumbai

In the result, all the appeals of the assessee are allowed

…/s 153C of the Act.” Identical observations have been made by Ld CIT(A) in the hands of Pankaj K Shah in the context of sec.153A also. The Ld CIT(A) also took support of the decision rendered by Hon’ble Supreme Court in the case of P.R.Metrani vs. CIT (2006)(287 ITR 209). Accordingly, the Ld CIT(A) dismissed the above said legal ground urged by these assessees in all the years under consideration. On merits also, the Ld CIT(A) confirmed the orders so passed by the AO in the years under consideration in the hands of all these assessees. Hence, these assessees are aggrieved by the above said decision of Ld CIT(A).…

Pankaj K Shah HUF, Mumbai vs. DCIT CC-6(3), Mumbai

In the result, all the appeals of the assessee are allowed

…/s 153C of the Act.” Identical observations have been made by Ld CIT(A) in the hands of Pankaj K Shah in the context of sec.153A also. The Ld CIT(A) also took support of the decision rendered by Hon’ble Supreme Court in the case of P.R.Metrani vs. CIT (2006)(287 ITR 209). Accordingly, the Ld CIT(A) dismissed the above said legal ground urged by these assessees in all the years under consideration. On merits also, the Ld CIT(A) confirmed the orders so passed by the AO in the years under consideration in the hands of all these assessees. Hence, these assessees are aggrieved by the above said decision of Ld CIT(A).…

DCIT CC-6(3), Mumbai vs. Pankaj K Shah HUF, Mumbai

In the result, all the appeals of the assessee are allowed

…/s 153C of the Act.” Identical observations have been made by Ld CIT(A) in the hands of Pankaj K Shah in the context of sec.153A also. The Ld CIT(A) also took support of the decision rendered by Hon’ble Supreme Court in the case of P.R.Metrani vs. CIT (2006)(287 ITR 209). Accordingly, the Ld CIT(A) dismissed the above said legal ground urged by these assessees in all the years under consideration. On merits also, the Ld CIT(A) confirmed the orders so passed by the AO in the years under consideration in the hands of all these assessees. Hence, these assessees are aggrieved by the above said decision of Ld CIT(A).…

ACIT Cent Cir 2(1), Mumbai vs. Shri Amish A Modi, Mumbai

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahman

…ubstantiated by bank statement; that Ld. CIT(A) has erred in considering the commission income only in order to make/confirm the addition and relied upon the decision rendered by Hon’ble High Court in case of P.R. Metrani Vs. Commissioner of Income Tax (2006) 287 ITR 209 (SC) and the decision of Hon’ble Allahabad ITA Nos.1311, 1312 & 1468/M/2021 & ors. 9 Shri Amish A. Modi High Court in the case of Gargi Din Jwala Prasad vs CIT (1974) 96 ITR 97 (Allahabad HC). 12. Undisputedly, assessments in all the aforesaid appeals were initiated on the basis of search and seizure operation carried out at M/s. Navjivan Char…