Park Paper Industries Pvt. Ltd. v. ITO

25 SOT 406Income Tax Appellate Tribunal2008#9608 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Judgments citing Park Paper Industries Pvt. Ltd. v. ITO

JEWEL HOUSING,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE, PUNE

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

ITA 892/PUN/2023[2018-19]Status: DisposedITAT Pune26 Jun 2024AY 2018-19

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2018-19

For Appellant: Shri Suhas P BoraFor Respondent: Shri Pawan Bharati
Section 143(3)Section 23(4)

…by the Municipal Corporation and not on estimate basis. He also relied on following decisions: 1. DCIT vs. Shri Ashok Beharay vide ITA No.827/PN/2011, order dated 03.07.2012 and Dr. Shrikant Kelkar vide ITA No.561/PN/01 2. Parkpaper Industries (P) Ltd vs. ITO 25 SOT 406 3. CIT vs. Akshay Textiles Trading 304 ITR 401 4. CIT vs. J K Investor (Bombay) Ltd 248 ITR 723 5. M V Sonawala vs. CIT 177 ITR 246 7. The Ld. DR on the other hand heavily relied on the order of CIT(A). 8. We have heard the rival arguments made by both the sides, perused the orders of the Assessing Officer and Ld. CIT(A) and the paper book filed…

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

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

ITA 512/NAG/2016[2009-10]Status: DisposedITAT Nagpur25 Jul 2022AY 2009-10

Bench: Shrisandeepgosain & Shriarunkhodpia

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Piyush Kolhe
Section 143(3)Section 147Section 153ASection 80I

…us, the annual value u/s 23(1)(a) for 9 months comes to Rs 35,015/-. After deduction of corporation tax of Rs 12,512/- and deduction u/s 24 not allowed by AD, the taxable income works out to Rs. 15752/-. The Hon'ble ITAT Mumbai Bench in Park Paper Ind (P) Ltd 25 SOT 406, Veena Munganahalli ITA No 251.6 (201.2) & Dr. Balkrishna Naik-1. SOT 01.77 and Ahmedabad Bench in .Jayshri Gautam bhai Desai Vs ITa - 40 CCH 224 held that Municipal valuation should be the annual letting value in case of self-occupied property. " 37. The learned CIT(A) after hearing both the parties has observed as under:- “2. I have carefully co…

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

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

ITA 511/NAG/2016[2008-09]Status: DisposedITAT Nagpur25 Jul 2022AY 2008-09

Bench: Shrisandeepgosain & Shriarunkhodpia

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Piyush Kolhe
Section 143(3)Section 147Section 153ASection 80I

…us, the annual value u/s 23(1)(a) for 9 months comes to Rs 35,015/-. After deduction of corporation tax of Rs 12,512/- and deduction u/s 24 not allowed by AD, the taxable income works out to Rs. 15752/-. The Hon'ble ITAT Mumbai Bench in Park Paper Ind (P) Ltd 25 SOT 406, Veena Munganahalli ITA No 251.6 (201.2) & Dr. Balkrishna Naik-1. SOT 01.77 and Ahmedabad Bench in .Jayshri Gautam bhai Desai Vs ITa - 40 CCH 224 held that Municipal valuation should be the annual letting value in case of self-occupied property. " 37. The learned CIT(A) after hearing both the parties has observed as under:- “2. I have carefully co…

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

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

ITA 499/NAG/2016[2009-10]Status: DisposedITAT Nagpur25 Jul 2022AY 2009-10

Bench: Shrisandeepgosain & Shriarunkhodpia

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Piyush Kolhe
Section 143(3)Section 147Section 153ASection 80I

…us, the annual value u/s 23(1)(a) for 9 months comes to Rs 35,015/-. After deduction of corporation tax of Rs 12,512/- and deduction u/s 24 not allowed by AD, the taxable income works out to Rs. 15752/-. The Hon'ble ITAT Mumbai Bench in Park Paper Ind (P) Ltd 25 SOT 406, Veena Munganahalli ITA No 251.6 (201.2) & Dr. Balkrishna Naik-1. SOT 01.77 and Ahmedabad Bench in .Jayshri Gautam bhai Desai Vs ITa - 40 CCH 224 held that Municipal valuation should be the annual letting value in case of self-occupied property. " 37. The learned CIT(A) after hearing both the parties has observed as under:- “2. I have carefully co…

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

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

ITA 498/NAG/2016[2007-08]Status: DisposedITAT Nagpur25 Jul 2022AY 2007-08

Bench: Shrisandeepgosain & Shriarunkhodpia

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Piyush Kolhe
Section 143(3)Section 147Section 153ASection 80I

…us, the annual value u/s 23(1)(a) for 9 months comes to Rs 35,015/-. After deduction of corporation tax of Rs 12,512/- and deduction u/s 24 not allowed by AD, the taxable income works out to Rs. 15752/-. The Hon'ble ITAT Mumbai Bench in Park Paper Ind (P) Ltd 25 SOT 406, Veena Munganahalli ITA No 251.6 (201.2) & Dr. Balkrishna Naik-1. SOT 01.77 and Ahmedabad Bench in .Jayshri Gautam bhai Desai Vs ITa - 40 CCH 224 held that Municipal valuation should be the annual letting value in case of self-occupied property. " 37. The learned CIT(A) after hearing both the parties has observed as under:- “2. I have carefully co…

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

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

ITA 438/NAG/2016[2010-11]Status: DisposedITAT Nagpur25 Jul 2022AY 2010-11

Bench: Shrisandeepgosain & Shriarunkhodpia

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Piyush Kolhe
Section 143(3)Section 147Section 153ASection 80I

…us, the annual value u/s 23(1)(a) for 9 months comes to Rs 35,015/-. After deduction of corporation tax of Rs 12,512/- and deduction u/s 24 not allowed by AD, the taxable income works out to Rs. 15752/-. The Hon'ble ITAT Mumbai Bench in Park Paper Ind (P) Ltd 25 SOT 406, Veena Munganahalli ITA No 251.6 (201.2) & Dr. Balkrishna Naik-1. SOT 01.77 and Ahmedabad Bench in .Jayshri Gautam bhai Desai Vs ITa - 40 CCH 224 held that Municipal valuation should be the annual letting value in case of self-occupied property. " 37. The learned CIT(A) after hearing both the parties has observed as under:- “2. I have carefully co…

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

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

ITA 436/NAG/2016[2005-06]Status: DisposedITAT Nagpur25 Jul 2022AY 2005-06

Bench: Shrisandeepgosain & Shriarunkhodpia

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Piyush Kolhe
Section 143(3)Section 147Section 153ASection 80I

…us, the annual value u/s 23(1)(a) for 9 months comes to Rs 35,015/-. After deduction of corporation tax of Rs 12,512/- and deduction u/s 24 not allowed by AD, the taxable income works out to Rs. 15752/-. The Hon'ble ITAT Mumbai Bench in Park Paper Ind (P) Ltd 25 SOT 406, Veena Munganahalli ITA No 251.6 (201.2) & Dr. Balkrishna Naik-1. SOT 01.77 and Ahmedabad Bench in .Jayshri Gautam bhai Desai Vs ITa - 40 CCH 224 held that Municipal valuation should be the annual letting value in case of self-occupied property. " 37. The learned CIT(A) after hearing both the parties has observed as under:- “2. I have carefully co…

BHIRYANI DADLANI SALES AGENCIES PVT. LTD.,MUMBAI vs. ITO 12(1)(3), MUMBAI

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

ITA 3305/MUM/2019[2009-10]Status: DisposedITAT Mumbai16 Jul 2021AY 2009-10

Bench: Shri Vikas Awasthyआअसं. 3305/मुं/2019 ("न.व. 2009-10) Bhiryani Dadlani Sales Agencies Pvt. Ltd, Shop Nos.10-11, Kenwood Apartment Chs Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 Pan: Aabcb- 7448-M ...... अपीलाथ" /Appellant बनाम Vs. Ito- Ward 12(1)(3) Room No.145A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Vimal PunmiyaFor Respondent: Ms. Smita Verma
Section 23(1)(a)

…s asked to produce said report. The ld. Departmental Representative expressed his inability to place the same on record. In so far as the rental value of the property is concerned, I find that in the case of Park Paper Industries Pvt. Ltd. vs. ITO reported as 25 SOT 406, the Tribunal held that where the property has not been let out, Municipal value would be proper yardstick for determining annual value. The Tribunal after considering the decisions rendered in the case of M.V. Sonawala vs. CIT (supra), Shiela Kaushish vs. CIT (supra) and the decision of Hon’ble Calcutta High Court in the case of Prabhabati Bansal…

BHIRYANI DADLANI SALES AGENCIES PVT. LTD.,MUMBAI vs. ITO 12(1)(3), MUMBAI

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

ITA 3304/MUM/2019[2008-09]Status: DisposedITAT Mumbai25 Mar 2021AY 2008-09

Bench: Shri Vikas Awasthyआअसं. 3303/मुं/2019 ("न.व. 2007-08) आअसं. 3304/मुं/2019 ("न.व. 2008-09) Bhiryani Dadlani Sales Agencies Pvt. Ltd, Shop Nos.10-11, Kenwood Apartment Chs Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 Pan: Aabcb 7448M ...... अपीलाथ" /Appellant बनाम Vs. Ito- Ward 12(1)(3) Room No.145A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Sushil Kumar Mishra
Section 143(2)Section 148Section 151

…asked to produce said report. The ld. Departmental Representative expressed his inability to place the same on record. In so far as the rental value of the property is concerned, I find that in the case of Park Paper Industries Pvt. Ltd. vs. ITO reported as 25 SOT 406, the Tribunal held that where the property has not been let out, Municipal value would be proper yardstick for determining annual value. The Tribunal after considering the decisions rendered in the case of M.V. Sonawala vs. CIT (supra), Shiela Kaushish vs. CIT (supra) 11 ITA NO.3304/MUM/2019 (A.Y.2008-09) and the decision of Hon’ble Calcutta H…

BHIRYANI DADLANI SALES AGENCIES PVT. LTD.,MUMBAI vs. ITO 12(1)(3), MUMBAI

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

ITA 3303/MUM/2019[2007-08]Status: DisposedITAT Mumbai25 Mar 2021AY 2007-08

Bench: Shri Vikas Awasthyआअसं. 3303/मुं/2019 ("न.व. 2007-08) आअसं. 3304/मुं/2019 ("न.व. 2008-09) Bhiryani Dadlani Sales Agencies Pvt. Ltd, Shop Nos.10-11, Kenwood Apartment Chs Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 Pan: Aabcb 7448M ...... अपीलाथ" /Appellant बनाम Vs. Ito- Ward 12(1)(3) Room No.145A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Sushil Kumar Mishra
Section 143(2)Section 148Section 151

…asked to produce said report. The ld. Departmental Representative expressed his inability to place the same on record. In so far as the rental value of the property is concerned, I find that in the case of Park Paper Industries Pvt. Ltd. vs. ITO reported as 25 SOT 406, the Tribunal held that where the property has not been let out, Municipal value would be proper yardstick for determining annual value. The Tribunal after considering the decisions rendered in the case of M.V. Sonawala vs. CIT (supra), Shiela Kaushish vs. CIT (supra) 11 ITA NO.3304/MUM/2019 (A.Y.2008-09) and the decision of Hon’ble Calcutta H…

M/S. MISSION VIEJO AGRO PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

ITA 4236/DEL/2015[2005-06]Status: DisposedITAT Delhi16 Dec 2016AY 2005-06

Bench: Sh. N. K. Sainiita No. 4236/Del/2015 : Asstt. Year : 2005-06 M/S Mission Verdes Estate Pvt. Ltd., Vs Acit, 48, Friends Colony, Central Circle-23, New Delhi-110065 New Delhi (Appellant) (Respondent) Pan No. Aaacm1160C Assessee By : Sh. Sashi Tulsiyan, Adv. Revenue By : Sh. F. R. Meena, Sr. Dr Date Of Hearing : 19.09.2016 Date Of Pronouncement : 16.12.2016 Order This Is An Appeal By The Assessee Against The Order Dated 10.02.2015 Of Ld. Cit(A)-30, New Delhi. 2. Following Grounds Have Been Raised In This Appeal: “1. That The Cit (Appeals) Erred On Facts & In Law In Upholding The Impugned Assessment Order Passed Under Sections 147 Of The Income Tax Act, 1961 Which Is Without Jurisdiction, Illegal & Bad In Law Since The Prerequisite Conditions For Initiating Proceedings Under Section 147 Of The Act Were Not Fulfilled In The Present Case. 2. That The Cit (Appeals) Erred On Facts & In Law In Upholding The Alleged Fair Rental Value At Rs.11,77,528/- & Thereby Making An Addition Of Rs.11,77,528/- Under The Head Income From House Property. 3. That The Cit(Appeals) Erred On Facts & In Law In Upholding The Addition Of Rs.7,00,000/- Received From M/S 2 Mission Viejo Estate Pvt. Ltd. Golden Techno Build Pvt. Ltd. As Unexplained Cash Credits U/S 68 Of The Act. 4. That The Cit(Appeals) Erred On Facts & In Law In Upholding The Aforesaid Addition Of Rs.7 Lacs Without Appreciating That The Appellant Had Discharged Its Onus In Terms Of Section 68 Of The Income Tax Act, 1961.” 3. Ground No. 1 Is Not Pressed, Therefore, The Same Is Dismissed As Not Pressed.

For Appellant: Sh. Sashi Tulsiyan, AdvFor Respondent: Sh. F. R. Meena, Sr. DR
Section 147Section 148Section 68

…01 ITR (AT) 324 (SB) (DEL.) The Hon'ble Delhi High Court in case CIT VS. MON1 KUMAR SUBBA 333 ITR 38 (DEL) (FB) TYPOGRAPHY IN ITA NO. 1213 OF 2011 DTD. 08.08.2014 has followed the decisions of Delhi High Conn staled above. PARKPAPER INDUSTRIES (P) LTD. (2008) 25 SOT 406 (MUM.) SATYA COMPANY LTD. 140 CTR (CAL.) 569 FOUR, that no basis had been provided for calculating the annual value / rental income of the said property. It is purely on the basis of information he had and no further. FOUR, that no basis had been provided for calculating the annual value / rental income of the said property. It is purely on the b…

Park Paper Industries Pvt. Ltd. v. ITO (25 SOT 406) — Cited in 11 Judgments | BharatTax