Parinee Developers Pvt ltd. v. ACIT

SHAKTI HARDWARE COLLECTIONS P.LTD,MUMBAI vs. ASST CIT CC 3(3), MUMBAI

In the result, the grounds of

Bench: Shri G.S. Pannu & Shri Pawan Singhshakti Hardware Collections Pvt. Dcit Cc -3(3), Ltd. 60/62, Kika Street, Mumbai. Gulabwadi, Mumbai-400004. Vs. Pan: Aaecs6501K Appellant Respondent Appellant By : Shri Ryan Saldanha (Ar) Respondent By : Ms. Arju Garodia (Dr) Date Of Hearing : 20.06.2018 Date Of Pronouncement : 20.06.2018 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh;

…port of his submission, the ld. AR of the assessee relied upon the decision of Tribunal in DCIT vs. Jehangir H C Jehangir (ITA No. 1484/Mum/2007), DCIT v OTIS Elevator Co. (I) Ltd. [2014] 61 SOT 26 (Mum Trib.)] and Parinee Developers (P.) Ltd. v. ACIT [2015] 174 TTJ 137 (Mum)]. 4. On the other hand, the ld. DR for the Revenue supported the order of lower authorities. The ld. DR for the Revenue further submits that the assessee filed his revised return of income only after issuing notice under section 143(2). It was further submitted that the assessee has nowhere explained the mistake during the assessment procee…