Sanjay Oilcake Industries v. CIT

Sejal Export (India), Mumbai vs. DCIT Cen Cir 1(2), Mumbai

In the result, appeals of the Assessee are partly allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…goods. In that view of the matter, as natural corollary, not the entire amount covered under such purchase, but the profit element embedded therein would be subject to tax. This was the view of this court in the case of Sanjay Oilcake Industries v. CIT (2009] 316 ITR 274 (Guj). Such decision is also followed by this court in a judgment dated August 16,2011, in Tax Appeal No. 679 of 2010 in the case of CIT v. KishorAmrutlal Patel. In the result, tax appeal is dismissed." 20. In view of the facts and circumstances and the judicial pronouncements cited above; what can be disallowed or taxed in the instant case of th…

Sanjay Kailash Gupta, Kalyan vs. ITO WD 3(4), Kalyan

In the result, this appeal filed by the assessee stands dismissed

Bench: Shri Shamim Yahya, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./I.T.A. No.7077/Mum/2016 ("नधा"रण वष" / Assessment Year: 2010-11) Sanjay Kailash Gupta The Income Tax Officer, बनाम/ 707, A7, Kingstone Yogidham, Ward 3(4), Kalyan Murbad Road, Shop No. 1, 2, 3, Kasturigram Society, Rani Mansion, Kalyan (West) Vs. Khadakpada, Kalyan (West) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Adtpg 0574 H (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : None ""यथ" क" ओर से/Respondent By : Ms. Aarju Garodia सुनवाई क" तार"ख / : 04.06.2018 Date Of Hearing घोषणा क" तार"ख / : 02.07.2018 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Assessee Is Directed Against Order Of Ld. Commissioner Of Income Tax (Appeals)-1, Thane Dated 13.07.2016 & Pertains To The Assessment Year 2010-11. 2. The Issue Raised Is That Ld. Commissioner Of Income Tax (Appeals) Erred In Sustaining Disallowance Of 12.5 % Of Bogus Purchase.

…on 06.04.2015 whereby the Supreme Court has dismissed the SLP confirmed the order dated 09.12.2014 passed by the Gujarat High Court and other decisions of the High Court of Gujarat in the case of Sanjay Oilcake Industries Vs. Commissioner of Income Tax (2009) 316 ITR 274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T., Tax Appeal No.240/2003 decided on 20.06.2016, the parties are bound by the principle of law pronounced in the aforesaid three judgments. 16. Upon careful consideration we note that this is not an appeal by the Revenue. Hence, it will not be appropriate to consider and take away the relief already g…

ITO WD 2(5), Kalyan vs. Hasmukharai & Co., Ambernath

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

…oncerned, before adverting further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal has recorded the fo…

ITO WD 2(5), Kalyan vs. Hasmukharai & Co., Ambernath

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

…oncerned, before adverting further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal has recorded the fo…

Kiran Navin Doshi, Mumbai vs. ITO 23(2)(4), Mumbai

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

…goods. In that view of the matter, as natural corollary, not the entire amount covered under such purchase, but the profit element embedded therein would be subject to tax. This was the view of this court in the case of Sanjay Oilcake Industries v. CIT [2009] 316 ITR 274 (Guj). Such decision is also followed by this court in a judgment dated August 16, 2011, in Tax Appeal No. 679 of 2010 in the case of CIT v. Kishor Amrutlal Patel. In the result, tax appeal is dismissed.” 2.3 Likewise, the Hon'ble Gujarat High Court in CIT vs Vijay M. Mistry Construction Ltd. (2013) 355 ITR 498 (Guj.) held/observed as under:-…

Kiran Navin Doshi, Mumbai vs. ITO -23(2)(4), Mumbai

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

…goods. In that view of the matter, as natural corollary, not the entire amount covered under such purchase, but the profit element embedded therein would be subject to tax. This was the view of this court in the case of Sanjay Oilcake Industries v. CIT [2009] 316 ITR 274 (Guj). Such decision is also followed by this court in a judgment dated August 16, 2011, in Tax Appeal No. 679 of 2010 in the case of CIT v. Kishor Amrutlal Patel. In the result, tax appeal is dismissed.” 2.3 Likewise, the Hon'ble Gujarat High Court in CIT vs Vijay M. Mistry Construction Ltd. (2013) 355 ITR 498 (Guj.) held/observed as under:-…

Pankaj Kishor Shah, Mumbai vs. ITO 25(2)(2), Mumbai

In the result, this appeal filed by the assessee stand partly allowed

Bench: Shri Shamim Yahya, Am आयकर अपील सं./I.T.A. No. 966/Mum/2017 ("नधा"रण वष" / Assessment Year: 2011-12) Shri Pankaj Kishor Shah Ito-25(2)(2), बनाम/ 7/8, Neel Kamal, Pratyakshakar Bhawan, Roshan Nagar, Borivali (W), Bandra Kurla Complex, Bandra (E), Vs. Mumbai-400 092 Mumbai-400 051 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Acpps 1076 B (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : None ""यथ" क" ओर से/Respondent By : Ms. Hemalatha N. सुनवाई क" तार"ख / : 05.03.2018 Date Of Hearing घोषणा क" तार"ख / : 21.05.2018 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) Dated 30.12.2016 & Pertains To Assessment Year 2011-12. 2. The Grounds Of Appeal Read As Under: I. 1. The Commissioner Of Income Tax(Appeal) - 44 ("The Cit (A)") Erred In Confirming The Assessment Order Passed U/S 143(3) Of The Income Tax Act, 1961 ('The Act') Without Affording The Appellant A Proper Opportunity Of Cross Examination.

…on 06.04.2015 whereby the Supreme Court has dismissed the SLP confirmed the order dated 09.12.2014 passed by the Gujarat High Court and other decisions of the High Court of Gujarat in the case of Sanjay Oilcake Industries Vs. Commissioner of Income Tax (2009) 316 ITR 274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T., Tax Appeal No.240/2003 decided on 20.06.2016, the parties are bound by the principle of law pronounced in the aforesaid three judgments. 16. Upon careful consideration I find that sales in these cases are not doubted. When sales are not doubted, 100% disallowance for bogus purchase is not sustainab…

S. Gupta & Co., Jaipur vs. ITO 12(2)(1), Mumbai

In the result, this appeal filed by the assessee stands partly allowed

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. No. 2949/Mum/2016 ("नधा"रण वष" / Assessment Year: 2007-08) M/S. S. Gupta & Co. Income Tax Officer, Ward-12(2)(1), बनाम/ Metro House, 2Nd Floor, Mumbai M. G. Road, Mumbai-400 020 Vs. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaafs 4486 L (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri S. L. Poddar ""यथ" क" ओर से/Respondent By : Shri V. Justin

…on 06.04.2015 whereby the Supreme Court has dismissed the SLP confirmed the order dated 09.12.2014 passed by the Gujarat High Court and other decisions of the High Court of Gujarat in the case of Sanjay Oilcake Industries Vs. Commissioner of Income Tax (2009) 316 ITR 274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T., Tax Appeal No.240/2003 decided on 20.06.2016, the parties are bound by the principle of law pronounced in the aforesaid three judgments. 15. Upon careful consideration we find that sales in these cases are not doubted. When sales are not doubted, 100% disallowance for bogus purchase is not sustaina…

Shyamdhar S. Mishra, Mumbai vs. DCIT 13(2), Mumbai

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

…n record. Before adverting further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- Shyamdhar S. Mishra “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal…

Shyamdhar S. Mishra, Mumbai vs. ITO 13(2)(3), Mumbai

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

…n record. Before adverting further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- Shyamdhar S. Mishra “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal…

ITO 19(1)(2), Mumbai vs. Babulal U Munot, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4506/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2010-11) The Ito-19(1)(2), Mumbai, बिधम/ Shri Babulal U Munot 2Nd Floor, Matru Mandir, Prop. M/S. Steel Samrat Vs. (India) Flat No. 1901-A, 19Th Tardeo Road, Mumbai- 400007 Floor, Shreepati Tower, A Wing, Tatya Gharpure Path, Girgaon Mumbai-04 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aftpm5429H (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri T. A. Khan (Dr) Assessee By: None सुनवाई की तारीख / Date Of Hearing: 26.03.2018 घोषणा की तारीख /Date Of Pronouncement: 11.05.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 15.05.2015 Passed By The Commissioner Of Income Tax (Appeals) -30, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2010- 11. 2. The Revenue Has Raised The Following Grounds: - “(1) Whether, On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Restricting The Addition To The Extent Of 7.5% Of Non-Genuine Purchase Claimed By The Assessee A.Y.2010-11

…goods. In that view of the matter, as natural corollary, not the entire amount covered under such purchase, but the profit element embedded therein would be subject to tax This was the view of this Court in the case of Sanjay Oilcake Industries vs. CIT (2009) 316 ITR 274 (Guj.). Such decision is a/so followed by this Court in a judgment dated August 16, 2011, in Tux Appeal No. 579 of 2010 in the case of CIT vs. Kishor Amrutlal PateA in the result, tax appeal is dismissed". 2.4.29 The facts in the present case are similar to the facts in the above mentioned case in the present case, the Ld. AO has shown that the p…

Sachin Laxman Jangid, Thane vs. ITO WD 3(3), Thane

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2009-10 Shri Sachin Laxman Jangid, Income Tax Officer, Porp. Sachin Construction, Ward-3(3), बनाम/ 1, Mandelia House, Wagle Ind. Estate, Vs. Ramesh Pradhan Road, Thane (W)-400604 Naupada, Thane-400602 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Adbpj0867C "नधा"रती क" ओर से / Assessee By Shri M.Subramanian Shri M.V. Rajguru-Dr राज"व क" ओर से / Revenue By 10/05/2018 सुनवाई क" तार"ख / Date Of Hearing: 10/05/2018 आदेश क" तार"ख /Date Of Order:

…goods. In that view of the matter, as natural corollary, not the entire amount covered under such purchase, but the profit element embedded therein would be subject to tax. This was the view of this court in the case of Sanjay Oilcake Industries v. CIT [2009] 316 ITR 274 (Guj). Such decision is also followed by this court in a judgment dated August 16, 2011, in Tax Appeal No. 679 of 2010 in the case of CIT v. Kishor Amrutlal Patel. In the result, tax appeal is dismissed.” 2.3 Likewise, the Hon'ble Gujarat High Court in CIT vs Vijay M. Mistry Construction Ltd. (2013) 355 ITR 498 (Guj.) held/observed as under:-…

Tejraj Manroop Chand Tak, Mumbai vs. Income Tax Officer 18(3)(4), Mumbai

Bench: Shri R. C. Sharma, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 6769/Mum/2017, (निर्धारणवर्ा / Assessment Year: 2011-12)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI R. C. SHARMA, AM & SHRI SANDEEP GOSAIN, JM आयकरअपीलसं./ I.T.A. No. 6769/Mum/2017, (निर्धारणवर्ा / Assessment Year: 2011-12) Shri Tejraj Manroop Chand ITO RG 18(3)(4) Tak, Bandra Kurla Complex, बिधम/ 234-B, Agrawal Building, 1st Bandra East, Floor, Room No. 6-7, Mumbai-400 051 Vs. Thakurdwar Road, Mumbai-400 002 स्थायीलेखासं./जीआइआरसं./PAN/GIR No. ADQPT2755C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Shri Vimal Punmiya प्रत्यथीकीओरसे/Respondentby : Ms. N. Hemalata सुनवाईकीतारीख/ : 08/02/2018 Date of Hearing घोषण…

Plaexe Con Services Private Limited, Mumbai vs. Assistant Commissioner of Income Tax Circle1, Kalyan

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2011-12 M/S Plaexe Con Services Acit, Pvt. Ltd. Circle-1, Wayale Nagar, बनाम/ Manogat, Gajanan Khadak Pada, Kalyan West, Vs. Cooperative Housing Thane-421301 Society, Midc Road Badlapur East, Thane-421301 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.Aaecp9267D

…n record. Before adverting further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal has recorded the fo…

Ashok K. Shah, Mumbai vs. Income Tax Officer 31(1)(2), Mumbai

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2009-10 Asok K. Shah, Income Tax Officer-31(1)(2), C-25, Sai Baba Enclave, Mumbai, बनाम/ S.V.Road, Vs. Goregaon West, Mumbai-400062 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.Akeps3501N

…adverting further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, 3 Ashok K. Shah. so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal has recorded the fo…

Mr.Ajay C. Shah HUF, Prop. M/S.Glass and Hardware, Mumbai vs. Income Tax Officer-26(1)(1), Mumbai

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2010-11 Mr. Ajay C. Shah, Income Tax Officer, C/O- Ajay C. Shah, Huf, Ward-26(1)(1), बनाम/ 60A/11, Sion Mahavir P.K. Bhavan, C-11, Vs. Chs, Scheme Road No.25C, R.No.703, 7Th Floor, Sion (West), Bandra Kurla Complex, Mumbai-400062 Bandra-East, Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.Aahha5664F

…n record. Before adverting further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal has recorded the fo…

Ramniklal Brothers, Thane vs. ITO WD 3(2), Thane

In the result, this appeal filed by the assessee stands dismissed

Bench: Shri B.R.Baskaran & Shri Sandeep Gosainramniklal Brothers, Pehlaj Kunj Lohar Ali, ……………. Appellant Thane, Maharashtra-400601 Pan-Aaffr8718P V/S

…on 06.04.2015 whereby the Supreme Court has dismissed the SLP confirmed the order dated 09.12.2014 passed by the Gujarat High Court and other decisions of the High Court of Gujarat in the case of Sanjay Oilcake Industries Vs. Commissioner of Income Tax (2009) 316 ITR 274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T., Tax Appeal No.240/2003 decided on 20.06.2016, the parties are bound by the principle of law pronounced in the aforesaid three judgments. 12. However, I note that this is not an appeal by the Revenue. Hence, it will not be appropriate to consider and take away the relief already granted by the Assessi…

ACIT Cir. 1, Kalyan vs. Thakor Electronic Ltd., Bhiwandi

In the result, the appeal filed by the assessee stands partly allowed and the appeals filed by the Revenue stands dismissed

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. No. 6427/Mum/2016 ("नधा"रण वष" / Assessment Year: 2009-10) Asst. Cit, Circle-1, M/S. Thakor Electronics Ltd. 1St Floor, Mohan Plaza, Plot No. P-1, P-3, 1St Floor, बनाम/ Wayale Nagar, Kalyan (W)-421 301 Shree Rajlaxmi Hi-Tech Textile Vs. Park, Bhiwandi, Nashik Bypass Road, Sonale, Bhiwandi-421 302 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aabct 4323 M (Revenue) (Assessee) : आयकर अपील सं./I.T.A. Nos. 6484 & 6485/Mum/2016 ("नधा"रण वष" / Assessment Years: 2009-10 & 2010-11) M/S. Thakor Electronics Ltd. Asst. Cit, Circle-1, Plot No. P-1, P-3, 1St Floor, 1St Floor, Mohan Plaza, बनाम/ Shree Rajlaxmi Hi-Tech Textile Park, Wayale Nagar, Kalyan (W)-421 301 Vs. Bhiwandi, Nashik Bypass Road, Sonale, Bhiwandi-421 302 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aabct 4323 M (Assessee) (Revenue) : Revenue By : Shri V. Justin Assessee By : Shri Tanjil Padvekar सुनवाई क" तार"ख / : 23.04.2018 Date Of Hearing घोषणा क" तार"ख / : 02.05.2018 Date Of Pronouncement आदेश / O R D E R Per Bench: These Are Cross Appeals By The Assessee & Revenue For Assessment Years 2009-10 & Appeal By The Assessee For Assessment Year 2010-11, Arising Out Of The M/S. Thakor Electronics Ltd. Common Order Of The Ld. Commissioner Of Income Tax (Appeals) For These Assessment

…on 06.04.2015 whereby the Supreme Court has dismissed the SLP confirmed the order dated 09.12.2014 passed by the Gujarat High Court and other decisions of the High Court of Gujarat in the case of Sanjay Oilcake Industries Vs. Commissioner of Income Tax (2009) 316 ITR 274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T., Tax Appeal No.240/2003 decided on 20.06.2016, the parties are bound by the principle of law pronounced in the aforesaid three judgments. 14. Upon careful consideration we find that sales in these cases are not doubted. When sales are not doubted, 100% disallowance for bogus purchase is not sustainab…

Unilex Colours & Chemicals Ltd, Mumbai vs. DCIT 13(1)(1), Mumbai

The appeal of the assessee is allowed for statistical purposes and the Ld

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2010-11 M/S Unilex Colours & Dcit-13(1)(1), Chemicals Ltd. Mumbai बनाम/ 106-107, Advent Atria, Vs. Chincoli Bunder Road, Malad West, Mumbai-400064 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.Aaacu5230F

…ex Colours & Chemicals Ltd. further, we deem it appropriate to consider various decisions from Hon'ble High Courts / Hon'ble Apex Court, so that we can reach to a fair conclusion. The Hon'ble Gujarat High Court in Sanjay Oilcakes Industries vs. CIT (2009) 316 ITR 274 (Guj.) held as under:- “11. Having heard the learned advocates appearing for the respective parties, it is apparent that no interference is called for in the impugned order of the Tribunal dated April 29, 1994, read with the order dated September 29, 1994, made in miscellaneous application. In the principal order the Tribunal has recorded the fo…

DCIT 8(2)(2), Mumbai vs. Steamline Industries Ltd, Mumbai

In the result, these appeals filed by the Revenue stands partly allowed

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. Nos.5842 & 5843/Mum/2015 ("नधा"रण वष" / Assessment Years: 2009-10 & 2011-12) Dy. Cit-8(2)(2), M/S. Steamline Industries Ltd. बनाम/ Room No. 615, M. K. Road, 178/26, Chatrabhuj Khetashi, Mumbai-400 020 Sant Tukaram Road, Masjid Bunder, Vs. Mumbai-400 009 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacs 7421 C (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri V. Justin ""यथ" क" ओर से/Respondent By : Shri R. C. Jain सुनवाई क" तार"ख / : 26.04.2018 Date Of Hearing घोषणा क" तार"ख / : 02.05.2018 Date Of Pronouncement आदेश / O R D E R Per Bench: These Are Appeals By The Revenue Against The Respective Orders Of The Ld. Commissioner Of Income Tax (Appeals) For The Concerned Assessment Years.

…on 06.04.2015 whereby the Supreme Court has dismissed the SLP confirmed the order dated 09.12.2014 passed by the Gujarat High Court and other decisions of the High Court of Gujarat in the case of Sanjay Oilcake Industries Vs. Commissioner of Income Tax (2009) 316 ITR 274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T., Tax Appeal No.240/2003 decided on 20.06.2016, the parties are bound by the principle of law pronounced in the aforesaid three judgments. 12. In the background of the aforesaid discussion and precedent we are of the considered opinion that the ld. Commissioner of Income Tax (Appeals) has erred in gra…