Titanor Components Ltd. v. ACIT

ULTRATECH CEMENT LIMITED,MUMBAI vs. ACIT- CC -1(4), MUMBAI

Bench: Shri Kuldip Singh & Shri S Rifaur Rahmanassessment Year: 2012-13

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2012-13 M/s. Ultra Tech Cement Jt. Commissioner of Ltd., Income Tax, Ahura Centre, B wing, Central Circle -1(4), 2nd Floor, Room No.902, 9th Floor, Vs. Mahakali Caves Road, Pratishtha Bhavan, Andheri(E), Old CGO Annexe, Mumbai-400093 Maharishi Karve Road, PAN: AAACL6442L Mumbai- 400020 (Appellant) (Respondent) Present for: Assessee by : Shri. Nitesh Joshi, A.R. & Shri Sumit Jain, A.R. Revenue by : Shri. Alok Kumar, CIT DR Date of Hearing : 08. 05…

ARIES AGRO LTD,MUMBAI vs. DCIT 14(1)(1), MUMBAI

In the result appeal filed by the assessee is dismissed

Bench: Shri G. Manjunatha & Shri Ram Lal Negiita No.557,558 & 559/Mum/2018 (Assessment Year :2008-09,2009-10 & 2010-11) Aries Agro Ltd Vs. Dcit-14(1)(1) Plot No. 24, Aries House 460, Aaykar Bhawan Deonar, Govandi M.K.Road Mumbai-400 043 Mumbai-400 020 Pan/Gir No.Aaaca5035G Appellant) .. Respondent)

…uding in the decision of Hon’ble Bombay High Court in the case of Hindustan Lever Limited Vs ACIT (2004) 268 ITR 332. The assessee has relied upon following case laws:- “Hindustan Lever Ltd. vs. ACIT [2004]-268 ITR 332 {Bom} Titanor Components vs. ACIT [2011]-60 DTR 273 {Bom} Sound Casting Pvt.Ltd vs. DCIT [2012] 250 CTR 119 {Bom} Sitara Diamond Pvt.Ltd [2012] 345 ITR 91 {Bom} Lok Housing & Construction Ltd. vs. DCIT [2012] 348 ITR 154 [Bom] Prashant Joshi vs. ITO-324 ITR 154 [Bom] Similarly, as regards deduction claimed u/s 35D, the assessee has filed written submission and argued that its claim of expenditure…

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

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

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

…e decision of ITAT Mumbai in the case of Bank of India in ITA No. 4842/Mum/2017 and decision of Hon'ble Delhi High Court in the case of Usha International Ltd. [25 taxmann.com 200]. The assessee also relied on the decisions of Titanor Components Ltd. v. ACIT [343 ITR 18], ITA NOs. 2231, 2232, 2233 & 2234/MUM/2018 M/s. Union Bank of India Kimplas Trenton Fittings Ltd. v. ACIT [340 ITR 299] and the decision of Hon'ble Gujarat High Court in the case of E-lnfochips Ltd. [99 taxmann.com 84]. 23. Ld. Counsel for the assessee submits that there was no new tangible material available with the Assessing Officer for reope…

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

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

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

…e decision of ITAT Mumbai in the case of Bank of India in ITA No. 4842/Mum/2017 and decision of Hon'ble Delhi High Court in the case of Usha International Ltd. [25 taxmann.com 200]. The assessee also relied on the decisions of Titanor Components Ltd. v. ACIT [343 ITR 18], ITA NOs. 2231, 2232, 2233 & 2234/MUM/2018 M/s. Union Bank of India Kimplas Trenton Fittings Ltd. v. ACIT [340 ITR 299] and the decision of Hon'ble Gujarat High Court in the case of E-lnfochips Ltd. [99 taxmann.com 84]. 23. Ld. Counsel for the assessee submits that there was no new tangible material available with the Assessing Officer for reope…

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

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

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

…e decision of ITAT Mumbai in the case of Bank of India in ITA No. 4842/Mum/2017 and decision of Hon'ble Delhi High Court in the case of Usha International Ltd. [25 taxmann.com 200]. The assessee also relied on the decisions of Titanor Components Ltd. v. ACIT [343 ITR 18], ITA NOs. 2231, 2232, 2233 & 2234/MUM/2018 M/s. Union Bank of India Kimplas Trenton Fittings Ltd. v. ACIT [340 ITR 299] and the decision of Hon'ble Gujarat High Court in the case of E-lnfochips Ltd. [99 taxmann.com 84]. 23. Ld. Counsel for the assessee submits that there was no new tangible material available with the Assessing Officer for reope…

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

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

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

…e decision of ITAT Mumbai in the case of Bank of India in ITA No. 4842/Mum/2017 and decision of Hon'ble Delhi High Court in the case of Usha International Ltd. [25 taxmann.com 200]. The assessee also relied on the decisions of Titanor Components Ltd. v. ACIT [343 ITR 18], ITA NOs. 2231, 2232, 2233 & 2234/MUM/2018 M/s. Union Bank of India Kimplas Trenton Fittings Ltd. v. ACIT [340 ITR 299] and the decision of Hon'ble Gujarat High Court in the case of E-lnfochips Ltd. [99 taxmann.com 84]. 23. Ld. Counsel for the assessee submits that there was no new tangible material available with the Assessing Officer for reope…

UNION BANK OF INDIA,MUMBAI vs. DCIT (LTU) 2, MUMBAI

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

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

…e decision of ITAT Mumbai in the case of Bank of India in ITA No. 4842/Mum/2017 and decision of Hon'ble Delhi High Court in the case of Usha International Ltd. [25 taxmann.com 200]. The assessee also relied on the decisions of Titanor Components Ltd. v. ACIT [343 ITR 18], ITA NOs. 2231, 2232, 2233 & 2234/MUM/2018 M/s. Union Bank of India Kimplas Trenton Fittings Ltd. v. ACIT [340 ITR 299] and the decision of Hon'ble Gujarat High Court in the case of E-lnfochips Ltd. [99 taxmann.com 84]. 23. Ld. Counsel for the assessee submits that there was no new tangible material available with the Assessing Officer for reope…

UNION BANK OF INDIA,MUMBAI vs. DCIT (LTU) 2, MUMBAI

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

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

…e decision of ITAT Mumbai in the case of Bank of India in ITA No. 4842/Mum/2017 and decision of Hon'ble Delhi High Court in the case of Usha International Ltd. [25 taxmann.com 200]. The assessee also relied on the decisions of Titanor Components Ltd. v. ACIT [343 ITR 18], ITA NOs. 2231, 2232, 2233 & 2234/MUM/2018 M/s. Union Bank of India Kimplas Trenton Fittings Ltd. v. ACIT [340 ITR 299] and the decision of Hon'ble Gujarat High Court in the case of E-lnfochips Ltd. [99 taxmann.com 84]. 23. Ld. Counsel for the assessee submits that there was no new tangible material available with the Assessing Officer for reope…

UNION BANK OF INDIA,MUMBAI vs. DCIT (LTU) 2, MUMBAI

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

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

…e decision of ITAT Mumbai in the case of Bank of India in ITA No. 4842/Mum/2017 and decision of Hon'ble Delhi High Court in the case of Usha International Ltd. [25 taxmann.com 200]. The assessee also relied on the decisions of Titanor Components Ltd. v. ACIT [343 ITR 18], ITA NOs. 2231, 2232, 2233 & 2234/MUM/2018 M/s. Union Bank of India Kimplas Trenton Fittings Ltd. v. ACIT [340 ITR 299] and the decision of Hon'ble Gujarat High Court in the case of E-lnfochips Ltd. [99 taxmann.com 84]. 23. Ld. Counsel for the assessee submits that there was no new tangible material available with the Assessing Officer for reope…

ASST CIRT 32(3), MUMBAI vs. RAJRANI S. GUPTA, MUMBAI

In the result, the appeal of Revenue is dismissed

Bench: Sri Mahavir Singh, Jm & Sri G. Manjunatha, Am The Assistant Commissioner Rajrani S Gupta Of Income Tax-32(3), 11-C, Lancelot Chsl, Sv Room No. 108, 1St Floor, Bldg. Road, Borivali(W), No. C-11, Pratyakshakar Mumbai-400 092 Vs. Bhavan, Bandra Kurla Complex, Bandra(E), Mumbai-400 051 Appellant .. Respondent Pan No. Aadpg1333P

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI G. MANJUNATHA, AM The Assistant Commissioner Rajrani S Gupta of Income Tax-32(3), 11-C, Lancelot Chsl, SV Room No. 108, 1st Floor, Bldg. Road, Borivali(W), No. C-11, Pratyakshakar Mumbai-400 092 Vs. Bhavan, Bandra Kurla Complex, Bandra(E), Mumbai-400 051 Appellant .. Respondent PAN No. AADPG1333P Revenue by : M.C. Omi Ningshen, DR Assessee by : S. L. Jain, AR Date of hearing: 09-01-2018 Date of pronouncement : 24-01-2018 O R D E R PER MAHAVIR SINGH, JM: This appeal by the Revenue is arising out of the order of Commiss…

DCIT LTU, MUMBAI vs. THE TATA FINANCE LTD, MUMBAI

In the result, appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri Ramit Kocharincome Tax Appeal No.2961/Mum/2014 (धििाारण वर्ा / Assessment Year : 2003-04) Dy. Commissioner Of Income Tax Vs. M/S Tata Finance Ltd Large Tax Payer Unit (Now Merged With Tata Motors Centre -1, 29Th Floor Ltd.) World Trade Centre Bombay House 24 Cuffe Parade Homi Mody Street Mumbai – 400 005 Mumbai – 400 001 Pan : Aaact1629F (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) Income Tax Appeal No.2962/Mum/2014 (धििाारण वर्ा / Assessment Year : 2005-06) Dy. Commissioner Of Income Tax M/S Tata Motors Ltd. Large Tax Payer Unit Bombay House, 24 Centre -1, 29Th Floor Homi Mody Street World Trade Centre Mumbai – 400 001 Cuffe Parade Pan : Aaact2T27Q Mumbai – 400 005 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) अपीलार्थी की ओर से / Appellant By : Smt S Padmaja & Smt Mahva Sarkar प्रत्यर्थी की ओर से / Respondent By : Shri Dinesh Vyas & Shri Manish Haria सुनवाई की तारीख / Date Of Hearing : 30/12/2016 घोषणा की तारीख / Date Of Pronouncement : 22/03/2017 आदेश / O R D E R Per C.N.Prasad (J.M.) : These Two Appeals Are Filed By The Revenue Against The Order Of The Ld. Cit (Appeals)-6, Mumbai Dated 27.01.2014 For The Assessment Years

…nce on the following judicial precedents. i) Hindustan Lever Limited v R. B. Wadkar (268 ITR 332) (Bom.) ii) Hindustan Lever Limited v R. B. Wadkar (268 ITR 339) (Bom.) iii) Titanor Components Ltd. v ACIT (243 CTR 520) (Bom.) iv) United Shippers Ltd. v. ACIT (371 ITR 441) (Bom.) v) Tao Publishing (P.) Ltd. v DCIT (370 ITR 135)(Bom.) vi) Crompton Greaves Ltd. v ACIT (275 CTR 49) (Bom.) vii) Business India v JCIT (370 ITR 154) (Bom.) viii) Sound Casting (P.) Ltd. v DCIT (250 CTR 119) (Bom.) ix) Priya Blue Industries (P.) Ltd. v DCIT (30 taxmann.com 68) (Guj) 8 Tata Finance Ltd. (now merged with Tata Motors Ltd) IT…

ASST CIT LTU, MUMBAI vs. IDBI LTD, MUMBAI

In the result, appeal filed by the assessee is allowed and appeal of the revenue is dismissed

Bench: Shri R.C.Sharma & Shri Pawan Singhassessment Year: 2005-06 Acit Large Tax Payer Unit, M/S Idbi Ltd., 28Th Floor, World Trade Centre 1, Idbi Towers, 3Rd Floor, Cufee Parade, Cufee Parade, Vs. Mumbai-400005 Mumbai-400005. Pan: Aaaci1105R (Appellant) (Respondent) Assessment Year: 2005-06 Idbi Bank Ltd., Acit Large Tax Payer Unit, Idbi Towers, Wtc Complex, 7Th 28Th Floor, World Trade Centre 1, Floor, Taxation Cell, Cufee Parade, Cufee Parade, Vs. Mumbai-400005. Mumbai-400005 Pan: Aaaci1105R (Appellant) (Respondent)

…ial was not disclosed by the assessee fully and truly necessary for assessment of that AY, so as to establish the vital link in this safeguard against the arbitrary re-opening of the concluded assessment” 10. In Titanor Components Ltd. Vs. ACIT, reported vide 343 ITR 18, Hon’ble jurisdictional High Court categorically held “that the Power conferred by s. 147 does not provide a fresh opportunity to the AO to correct an incorrect assessment unless the mistake in the assessment so made is the result of a failure of the assessee to disclose fully and truly all material facts necessary for assessment-Where the AO does…

SCAFFOLD PROPERTIES LTD,MUMBAI vs. DCIT 5(3), MUMBAI

…on about the failure of the assessee in the reasons recorded by the AO.As the basic pre-condition for invoking the provisions of section 147 are missing,so,in our opinion the order of the is invalid.Here we would like to refer to the matter of United Shippers(371 ITR 441)of Hon’ble Bombay High Court wherein the Court has held as under : 6748/M/13-Scaffold Properties “When an assessment is sought to be reopened after the expiry of four years from the end of the relevant assessment year, the proviso to section 147 of the Income-tax Act, 1961, stipulates a requirement that there must a failure on the part of the a…