Savla Associates v. Income

35 SOT 148Income Tax Appellate Tribunal2010#17785 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2022.

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Judgments citing Savla Associates v. Income

VIPIN MADANLAL THAPAR,NAVI MUMBAI vs. DY CIT CC-1, THANE

In the result, the appeal of the assessee is allowed

ITA 472/MUM/2022[2011-12]Status: DisposedITAT Mumbai30 Nov 2022AY 2011-12

Bench: Shri Amit Shukla & Shri Amarjit Singhvipin Madanlal Thapar Vs. Dcit,Cc-1 502, A-Wing, Shree Room No. 10, 6Th Floor, Raveehi Apt., Plot A-Wing, Ashar I.T. Park, No.14/15, Sector 20, Road 16-Z, Koparkhairane, Wagle Indl. Estate, Navi Mumbai – 400 709 Thane, 400604 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Acjpt9204A Appellant .. Respondent Appellant By : Rachana Bhanushali Respondent By : Ketki Desai Date Of Hearing 16.11.2022 Date Of Pronouncement 30.11.2022 आदेश / O R D E R Per Amarjit Singh (Am): The Present Appeal Filed By The Assessee Is Directed Against The Order Passed The Cit(A)-11, Pune, Dated 14.01.2022 For A.Y. 2011-12. The Assessee Has Raised The Following Grounds Before Us: “1. Because The Cit(A) Has Erred In Law In Upholding The Assessment Order Even Though The Underlying Order Under Section 127 Of The Income Tax Act, 1961 Is Bad In Law. 2. Because The Cit(A) Has Erred In Law & On Facts In Upholding The Disallowance Of 100% Of The Alleged Bogus Purchases Amounting To Rs.125,60,620 Ignoring The Plethora Of Evidence Placed On Record Mainly On The Basis That The Vendors Did Not Appear Before The Authorities Below.

For Appellant: Rachana BhanushaliFor Respondent: Ketki Desai
Section 127Section 143(2)

…ect of the assessee was completed in the financial year 2011-12. The ld. Counsel has also placed reliance on the decision of CIT(A) Vs. Rajendra Prasad Jain (2015) 324 ITR 545 (P &H) and decision of ITAT, Mumbai in the case of Savall Associates Vs. ITO (2010) 35 SOT 148 (Mum) and M/s Unique Enterprises Vs. ITO vide ITA No. 5109/Mum/2010 dated 20.08.2010. On the other hand the ld. D.R supported the order of CIT(A). ITA No.472/Mum/2022 A.Y. 2011-12 4 Vipin Madanlal Thapar Vs. DCIT, CC-1 5. Heard both the sides and perused the material on record. The assessee was engaged in the business of real estate development.…

DY CIT 10 (3)91), MUMBAI vs. M/S NOUVEAU DEVELOPERS PVT LTD., MUMBAI

In the result, the appeal of the revenue for AY

ITA 8047/MUM/2019[2013-14]Status: DisposedITAT Mumbai12 Jul 2022AY 2013-14

Bench: Shri Pramod Kumar, Vp & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No. 8047/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit-10(3)(1) बिधम/ M/S. Nouveau Developers Pvt. 1St Room No.217/212, Ltd. Vs. Floor, Aayakar Bhawan, 701, Natraj, M. V. Road, Churchgate, Mumbai- Junction, Western Express 400020. Highway, Andheri East, Mumbai-400072. आयकर अपील सं/ I.T.A. No. 7039/Mum/2018 (निर्धारण वर्ा / Assessment Year:2014-15) बिधम/ Dcit-10(3)(1) M/S. Nouveau Developers Pvt. Room No.212, 2Nd Floor, Ltd. Vs. Aayakar Bhawan, M. K. 702, Natraj, M. V. Road, Road Churchgate, Junction, Western Express Mumbai-400020. Highway, Andheri East, Mumbai-400069. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccn5280G (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Dr. Pratap Narayan Sharma (Sr.Ar) Assessee By: Shri Naresh Kumar सुनवाई की तारीख / Date Of Hearing: 27/06/2022 घोषणा की तारीख /Date Of Pronouncement: 12/07/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Of The Revenue Preferred Against The Order Of The Ld. Cit(A)-17, Mumbai Dated 24.10.2019 For A.Y.2013-14; & Order Dated 07.09.2018 For Ay.2014-15. 2. First We Deal With Appeal Pertaining To Ay. 2013-14 Wherein Ground No. 1 Of The Revenue Is Against The Action Of The Ld. Cit(A) Reversing The Action Of The Ao Capitalizing Rs.2,47,96,353/- Which

For Appellant: Shri Naresh KumarFor Respondent: Dr. Pratap Narayan Sharma

…s liable to be disallowed and the work-in-progress of construction project will be accordingly reduced to the extent of these amount. In this regard, Reliance is placed on the judgment ITAT Mumbai Bench ‘J’ Savla Associates vs. Income tax Officer, Navi Mumbai 35 SOT 148 [2010]. It was held by the ITAT that if certain expenditure is not allowable under the Act, the work in progress will be reduced by that amount. Such expenses are to be excluded from the work-in-progress if same are included by the assessee. In the light of abovementioned facts, amount of A.Ys.2014-15 & 2013-14 Nouveau Developers Pvt. Ltd. Rs.3,76…

DCIT - 10 (3)(1), MUMBAI vs. NOUVEAU DEVELOPERS PVT. LTD., MUMBAI

In the result, the appeal of the revenue for AY

ITA 7039/MUM/2018[2014-15]Status: DisposedITAT Mumbai12 Jul 2022AY 2014-15

Bench: Shri Pramod Kumar, Vp & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No. 8047/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit-10(3)(1) बिधम/ M/S. Nouveau Developers Pvt. 1St Room No.217/212, Ltd. Vs. Floor, Aayakar Bhawan, 701, Natraj, M. V. Road, Churchgate, Mumbai- Junction, Western Express 400020. Highway, Andheri East, Mumbai-400072. आयकर अपील सं/ I.T.A. No. 7039/Mum/2018 (निर्धारण वर्ा / Assessment Year:2014-15) बिधम/ Dcit-10(3)(1) M/S. Nouveau Developers Pvt. Room No.212, 2Nd Floor, Ltd. Vs. Aayakar Bhawan, M. K. 702, Natraj, M. V. Road, Road Churchgate, Junction, Western Express Mumbai-400020. Highway, Andheri East, Mumbai-400069. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccn5280G (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Dr. Pratap Narayan Sharma (Sr.Ar) Assessee By: Shri Naresh Kumar सुनवाई की तारीख / Date Of Hearing: 27/06/2022 घोषणा की तारीख /Date Of Pronouncement: 12/07/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Of The Revenue Preferred Against The Order Of The Ld. Cit(A)-17, Mumbai Dated 24.10.2019 For A.Y.2013-14; & Order Dated 07.09.2018 For Ay.2014-15. 2. First We Deal With Appeal Pertaining To Ay. 2013-14 Wherein Ground No. 1 Of The Revenue Is Against The Action Of The Ld. Cit(A) Reversing The Action Of The Ao Capitalizing Rs.2,47,96,353/- Which

For Appellant: Shri Naresh KumarFor Respondent: Dr. Pratap Narayan Sharma

…s liable to be disallowed and the work-in-progress of construction project will be accordingly reduced to the extent of these amount. In this regard, Reliance is placed on the judgment ITAT Mumbai Bench ‘J’ Savla Associates vs. Income tax Officer, Navi Mumbai 35 SOT 148 [2010]. It was held by the ITAT that if certain expenditure is not allowable under the Act, the work in progress will be reduced by that amount. Such expenses are to be excluded from the work-in-progress if same are included by the assessee. In the light of abovementioned facts, amount of A.Ys.2014-15 & 2013-14 Nouveau Developers Pvt. Ltd. Rs.3,76…

GALA INFRASTRUCTURE PVT.LTD.,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-4(1),, AHMEDABAD

ITA 439/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad09 Apr 2019AY 2009-10

Bench: Justice Shri P. P. Bhatt & Shri Pradip Kumar Kedia

For Appellant: Shri Lalit P. Jain, Sr.D.R
Section 36(1)(iii)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘C’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE JUSTICE SHRI P. P. BHATT, PRESIDENT & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 439/Ahd/2013 ("नधा"रण वष" / Assessment Year : 2009-10) Gala Infrastructure Pvt. बनाम/ ITO Ward – 4(1), Ltd. Vs. 104, 1st Floor, Navjivan Navneet House, Opp. Gurukul Road, Ahmedabad Trust Building, 380052 Navarangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AADCG0020C .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./I.T.A. No. 884/Ahd/2015 ("नधा"रण वष" / Assessment…

TRIVENI HOMES,MUMBAI vs. ACIT CC 2, THANE

In the result, appeal of the Revenue is dismissed whereas appeal of assessee is allowed in part

ITA 3780/MUM/2017[2010-11]Status: DisposedITAT Mumbai13 Feb 2018AY 2010-11

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm M/S. Triveni Homes Vs. Acit Cc-2 001, Ground Floor Thane - 400604 Balaji Business Park Plot No. 3&5, Survey No.785 Marol, Andheri (E) Mumbai Pan/Gir No.Aafft1576R Appellant) .. Respondent) Dcit 25(1) Vs. M/S. Triveni Homes Mumbai 001, Ground Floor Plot Number-3 & 5 Mittal Industrial Estate M.V.Road, Andheri (E) Mumbai

Section 10ASection 133(6)Section 143(3)

…claimed by the assessee for the year under consideration, no disallowance should be made for the year under consideration based on the decision of the Hon’ble Mumbai ITAT in the case of M/s. Maruti Impex v. JCIT (ITA 3823/Mum/2014) & Savala Associates v. ITO 35 SOT 148 (Mum) 16. Keeping in view the totality of facts and circumstances of the case, we uphold addition to the extent of 2% of such bogus purchases during the A.Y.2012-13. We direct accordingly. 17. In the result, appeal of the Revenue is dismissed whereas appeal of assessee is allowed in part. Order pronounced in the open court on this 13/02/2018 (RAM…

Savla Associates v. Income (35 SOT 148) — Cited in 5 Judgments | BharatTax