Parekh Bros. v. CIT

NIKUNJ KAUSHIK SHAH,MUMBAI vs. ITO WARD-32(1), MUMBAI

Appeal of the assessee is allowed on merits

Bench: Shri Aby T. Varkey & Shri Gagan Goyalnikunj Kaushik Shah, 201, Laxmi Palace Chsl, Vileparle (East), Mumbai- 400057, Pan: Apeps6446R ...... Appellant Vs. Ito-32(1), R. No. 335, Kautilya Bhavan, Bkc, Bandra (E) Mumbai- 400051 ..... Respondent

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Nikunj Kaushik Shah, 201, Laxmi Palace CHSL, Vileparle (East), Mumbai- 400057, PAN: APEPS6446R ...... Appellant Vs. ITO-32(1), R. No. 335, Kautilya Bhavan, BKC, Bandra (E) Mumbai- 400051 ..... Respondent Appellant by : Shri Rajesh Kothari, Ld. AR Respondent by : Shri Ashok Kumar Ambastha, Ld. DR Date of hearing : 12/12/2023 Date of pronouncement : 29/01/2024 O R D E R PER GAGAN GOYAL, A.M: This appeal by assessee is directed against the order of National Faceless…

TECH DATA(SINGAPORE) PTE LIMITED,MUMBAI vs. THE DEPUTY COMM. OF INCOME TAX (IT) CIRCLE -4(1)(2), MUMBAI

In the result, ground No.3 of appeal is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.2367/मुं/ 2022 (िन.व.2019-20) Tech Data (Singapore) Pte Limited, 10, #05-17/20 Techpoint, Ang Mo Kio Street 65, Singapore -569059 Pan: Aagct-0951-J ...... अपीलाथ" /Appellant बनाम Vs. The Deputy Commissioner Of Income Tax International Taxation, Circle -4(1)(2) Mumbai . ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Nitesh Joshi "ितवादी "ारा/Respondent By : Shri Avneesh Tiwari सुनवाई क" ितिथ/ Date Of Hearing : 22/05/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 21/08/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: This Appeal By The Assessee Is Directed Against The Assessment Order Dated 19/07/2022 Passed U/S. 143(3) R.W.S. 144C(13) Of The Income Tax Act, 1961 [ In Short ‘The Act], For The Assessment Year 2019-20. 2. The Assessee In Appeal Has Raised Five Grounds. The Gist Of Grounds Raised By The Assessee In Appeal Is As Under: (I) Challenge To Validity Of Assessment – Notice U/S. 143(2) Of The Act Issued Without Authority.

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई ”, मुंबई पीठ "ी िवकास अव"थी, "याियक सद"य एवं "ी गगन गोयल, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI GAGAN GOYAL, ACCOUNTANT MEMBER आअसं.2367/मुं/ 2022 (िन.व.2019-20) Tech Data (Singapore) Pte Limited, 10, #05-17/20 Techpoint, Ang Mo Kio Street 65, Singapore -569059 PAN: AAGCT-0951-J ...... अपीलाथ" /Appellant बनाम Vs. The Deputy Commissioner of Income Tax International Taxation, Circle -4(1)(2) Mumbai . ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant by : Shri Nitesh Joshi "ितवादी "ारा/…

DCIT CEN CIR 8(3), MUMBAI vs. VRINDAVAN SERVICES P.LTD, MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri Joginder Singh() & Shri G Manjunatha ()

…assessee. In the instant case, surrender was to buy the peace as the assessee is not an expert in income tax matter. The Department cannot take the advantage of the ignorance of the assessee as per CBDT Circular No.14(XL35)/1955 dated 01.04.1955 mentioned in 150 ITR 105 (Kar). 14. In the instant case, the statement was recorded of the broker, who had confirmed the sale and purchase. No concealment was made by the assessee even then she has made an offer to treat the said income as income from "other sources". The only reason for making the addition is that it was not entered in the register of the company, for w…

DCIT CEN CIR 8(3), MUMBAI vs. TRANQUIL HOMES & HOLDING P.LTD, BANGALORE

Bench: Shri D.T. Garasia () & Shri Ashwani Taneja ()

…se, surrender was to buy the peace as the assessee is not an expert in income tax matter. The Department cannot take the advantage of the 14 ITA 238 & 299/Mum/2015 ignorance of the assessee as per CBDT Circular No.14(XL- 35)/1955 dated 01.04.1955 mentioned in 150 ITR 105 (Kar). 14. In the instant case, the statement was recorded of the broker, who had confirmed the sale and purchase. No concealment was made by the assessee even then she has made an offer to treat the said income as income from "other sources". The only reason for making the addition is that it was not entered in the register of the company, for w…

DCIT CEN CIR 8(3), MUMBAI vs. NALWA CHROME P.LTD, MUMBAI

Bench: Shri D.T. Garasia () & Shri Ashwani Taneja ()

…se, surrender was to buy the peace as the assessee is not an expert in income tax matter. The Department cannot take the advantage of the 14 ITA 238 & 299/Mum/2015 ignorance of the assessee as per CBDT Circular No.14(XL- 35)/1955 dated 01.04.1955 mentioned in 150 ITR 105 (Kar). 14. In the instant case, the statement was recorded of the broker, who had confirmed the sale and purchase. No concealment was made by the assessee even then she has made an offer to treat the said income as income from "other sources". The only reason for making the addition is that it was not entered in the register of the company, for w…