Torrent Pharmaceuticals Ltd. v. DCIT

97 Taxmann.com 671Income Tax Appellate Tribunal2018#2965 most cited

What is Torrent Pharmaceuticals Ltd. v. DCIT authority for?

An Assessing Officer's (AO) order is generally considered erroneous under section 263(1) only in cases of gross inadequacy of inquiry or lack of application of mind, as expecting a thorough examination of every single transaction is not feasible, especially for listed companies with multiple professional audits.

40

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2019 to 2026.

Also referred to as

Torrent Pharmaceuticals Ltd v DCIT · section 263 · CIT v Malabar Industrial Co. Ltd. · erroneous and prejudicial to the interest of revenue · inadequate enquiry · lack of application of mind · Explanation 2 to section 263 · gross inadequacy of inquiry · listed company audits

Sections most often in play

Section 1961Section 263Section 143(3)Section 142(1)Section 144BSection 119Section 11Section 11 of the Income Tax Act

Issues it is cited on

inadequate enquirysection 263(1)prejudicial to interest of revenuelack of enquirysection 115bbcmalabar industrialanonymous donationrevision under section 263corpus fundsection 119erroneous and prejudicialrevision u/s 263

Judgments citing Torrent Pharmaceuticals Ltd. v. DCIT

Janata Traders, Gadag vs. Principal Commissioner of Income Tax, Hubli

In the result, the appeal filed by the assessee is allowed

ITA 401/BANG/2022[2017-18]Status: DisposedITAT Bangalore26 Oct 2022AY 2017-18

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2017-18

For Appellant: Smt. Girija, A.RFor Respondent: Dr. G. Manoj Kumar, D.R
Section 143(3)Section 263Section 69A

…ITA No.401/Bang/2022 Janata Traders, Gadag IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment Year: 2017-18 Janata Traders Namjoshi Road, Principal CIT Gadag 582 101 Vs. Hubli 580 025 PAN NO : AABFJ1358F APPELLANT RESPONDENT Appellant by : Smt. Girija, A.R. Respondent by : Dr. G. Manoj Kumar, D.R. Date of Hearing : 26.10.2022 Date of Pronouncement : 26.10.2022 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: This appeal by assessee is directed against the order of Principal CIT passed u/s 263 of t…

Kusuma Cashews, Karkala vs. The Principal Commissioner of Income Tax, Central, Bangalore

In the result, the appeal is allowed in favour of the assessee

ITA 511/BANG/2022[2017-18]Status: DisposedITAT Bangalore21 Oct 2022AY 2017-18

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2017-18

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 115BSection 132Section 133ASection 143(2)Section 143(3)Section 263Section 69

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2017-18 Kusuma Cashews, Vs. The Principal Commissioner of 316/1, 316/2A, Income Tax (Central), Near Kariakallu, Bengaluru. Karkala – 574 104. Karnataka. PAN: AAPFK 6027L APPELLANT RESPONDENT Appellant by : Smt. Sheetal Borkar, Advocate Respondent by : Shri Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru. Date of hearing : 19.10.2022 Date of Pronouncement : 21.10.2022 O R D E R Per Padmavathy S., Accountant Member This appeal is against the order of P…

Sachchade Food Pvt. Ltd., Ahmedabad vs. The Pr. CIT-3, Ahmedabad

ITA 89/AHD/2021[2016-17]Status: DisposedITAT Ahmedabad07 Oct 2022AY 2016-17

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita No. 89/Ahd/2021 िनधा"रण वष"/Asstt. Year: 2016-2017 Sachchade Food Private Limited, P.C.I.T., 407/3, New Ahmedabad Industrial Vs. Ahmedabad-3, Estate, Ahmedabad. Village: Moraiya Tal. Sanand, Ahmedabad-382213. Pan: Aatcs9292G

For Appellant: Shri Mehul Thakkar, A.RFor Respondent: Shri James Kurian, CIT. D.R
Section 143(2)Section 143(3)Section 263

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, “B” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA No. 89/AHD/2021 िनधा"रण वष"/Asstt. Year: 2016-2017 Sachchade Food Private Limited, P.C.I.T., 407/3, New Ahmedabad Industrial Vs. Ahmedabad-3, estate, Ahmedabad. Village: Moraiya Tal. Sanand, Ahmedabad-382213. PAN: AATCS9292G (Applicant) (Respondent) Assessee by : Shri Mehul Thakkar, A.R Revenue by : Shri James Kurian, CIT. D.R सुनवाई क" तारीख/Date of Hearing : 26/09/2022 घोषणा क" तारीख /Date of Pronouncement: 0…

Castamet Works Private Limited, Kharwa vs. Principle Commissioner of Income Tax, Udaipur

ITA 187/JPR/2022[2017-18]Status: DisposedITAT Jaipur04 Oct 2022AY 2017-18
For Appellant: Sh. Prakul Khurana (Adv.) &For Respondent: Sh. Sanjay Dhariwal (CIT)
Section 143(1)Section 143(3)Section 14ASection 263Section 36(1)(va)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,’B’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM deys’k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 187/JP/2022 fu/kZkj.k o"kZ@Assessment Year :2017-18 cuke Castamet Works Private Limited Principle Commissioner of Vs. Village – Kharwa,Tehsil- Masuda Income Tax, Udaipur Kharwa, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AADCC 5624 L vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Prakul Khurana (A…

M/S. Emboza Granito Pvt. Ltd., Morbi vs. The Pr. CIT-3, Rajkot

In the result, appeal filed by assessee is allowed

ITA 240/RJT/2019[2016-17]Status: DisposedITAT Rajkot30 Sept 2022AY 2016-17

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 240/Rjt/2019 िनधा"रण वष"/Asstt. Years: 2016-2017

For Appellant: Shri Mehul Ranpura, A.RFor Respondent: Shri Aarsi Prasad, CIT. D.R
Section 143Section 143(3)Section 263Section 32ASection 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER, And SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER आयकर अपील सं./ITA No. 240/Rjt/2019 िनधा"रण वष"/Asstt. Years: 2016-2017 M/s Emboza Granito Pvt. Ltd., The Principal Commissioner of Survey No.239/241/241, Vs. Income-tax-3, Sartanpar Road, Rajkot. At. Matel, Dist. Morbi. PAN: AAECE0061G Assessee by : Shri Mehul Ranpura, A.R Revenue by : Shri Aarsi Prasad, CIT. D.R सुनवाई क" तारीख/Date of Hearing : 07/07/2022 घोषणा क" तारीख /Date of Pronouncement: 03/10/2022 आदेश/O R D E R PER…

Nepal Singh Rathod (HUF), Hubli vs. Principal Commissioner of Income Tax, Hubli

In the result, the appeal filed by the assessee is allowed

ITA 400/BANG/2022[2017-18]Status: DisposedITAT Bangalore28 Sept 2022AY 2017-18

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2017-18

For Appellant: Shri K.R. Pradeep &For Respondent: Shri Sumer Singh Meena, D.R
Section 142(1)Section 143(2)Section 143(3)Section 263

…ITA No.400/Bang/2022 Nepal Singh Rathod (HUF), Hubli +IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment Year: 2017-18 Nepal Singh Rathod (HUF) Flat No.401, B Block Ramdatt Apts Keshwapur Vs. Principal CIT Hubli 580 023 Hubli PAN NO : AAHHN3255R APPELLANT RESPONDENT Appellant by : Shri K.R. Pradeep & Smt. G.P. Girija, A.Rs Respondent by : Shri Sumer Singh Meena, D.R. Date of Hearing : 27.09.2022 Date of Pronouncement : 28.09.2022 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: This appeal by asse…

M/S. Janatha Fish Meal & Oil Products, Udupi vs. Principal Commissioner of Income Tax, (Central), Bengaluru

In the result, the appeal filed by the assessee is allowed

ITA 489/BANG/2022[2018-19]Status: DisposedITAT Bangalore20 Sept 2022AY 2018-19

Bench: Shri N.V. Vasudevan & Ms.Padmavathy S.M/S. Janatha Fish Meal & Vs Pcit, Central Oil Products C.R. Building D.No. 1-4(9), Manur Fisheries Queen'S Road Road, Kota, Post Kota Bengaluru 560001 Udupi 0576221 Pan – Aaefj1257G (Appellant) (Respondent) Assessee By: Shri V. Narendra Sharma, Advocte Revenue By: Shri Manjunath Karkihalli, Cit-Dr Date Of Hearing: 14/09/2022 Date Of Pronouncement: 20/09/2022 O R D E R Per: Padmavathy, A.M. This Appeal Is Against The Revision Order Passed Under Section 263 Of The Income Tax Act, 1961 (The Act) Dated 28.03.2022 Passed For Ay 2018-19 By The Principal Commissioner Of Income Tax, (Pcit) Bangalore.

For Appellant: Shri V. Narendra Sharma, AdvocteFor Respondent: Shri Manjunath Karkihalli, CIT-DR
Section 115BSection 143Section 153DSection 263Section 269Section 269SSection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU “B” BENCH, BENGALURU Before Shri N.V. Vasudevan, Vice President and Ms.Padmavathy S., Accountant Member M/s. Janatha Fish Meal & vs PCIT, Central Oil Products C.R. Building D.No. 1-4(9), Manur Fisheries Queen's Road Road, Kota, Post Kota Bengaluru 560001 Udupi 0576221 PAN – AAEFJ1257G (Appellant) (Respondent) Assessee by: Shri V. Narendra Sharma, Advocte Revenue by: Shri Manjunath Karkihalli, CIT-DR Date of hearing: 14/09/2022 Date of pronouncement: 20/09/2022 O R D E R Per: Padmavathy, A.M. This appeal is against the revision order passed under Section 263 of the In…

Hariyappa Kotian, Udupi vs. Principal Commissioner of Income Tax, Central, Bengaluru

In the result, the appeals of the assessee are allowed

ITA 430/BANG/2022[2017-18]Status: DisposedITAT Bangalore19 Sept 2022AY 2017-18

Bench: Shri N.V Vasudevan, Hon’Ble & Shri Laxmi Prasad Sahu

For Appellant: Shri V Srinivasan, AdvocateFor Respondent: Shri Manjunath Karkihalli, CIT (DR)
Section 139Section 143Section 153DSection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI N.V VASUDEVAN, HON’BLE VICE PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER IT(TP)A No.430 & 431/Bang/2022 Assessment year : 2017-18 & 2018 - 19 M/s Hariyappa Kotian, Vs. The Pr. Commissioner of Income Karthik Complex, Tax [Central], Malpe Main Road, Bengaluru. Udupi-576 108. PAN – AECPK 7269 M APPELLANT RESPONDENT Assessee by : Shri V Srinivasan, Advocate Revenue by : Shri Manjunath Karkihalli, CIT (DR) Date of hearing : 08.08.2022 Date of Pronouncement : 19.09.2022 O R D E R Per Laxmi Prasad Sahu, Accountant Member These two…

Shri Kalyan Buildmart Pvt. Ltd, Jaipur vs. Principal Commissioner of Income Tax-2, Jaipur

ITA 126/JPR/2022[2017-18]Status: DisposedITAT Jaipur16 Sept 2022AY 2017-18

Bench: The Date Of Hearing.”

For Appellant: Sh. Rajeev Sogani (CA) &For Respondent: Sh. Prathviraj Meena (CIT)
Section 143(2)Section 143(3)Section 263Section 6(3)(ii)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 126/JP/2022 fu/kZkj.k o"kZ@Assessment Years : 2017-18 cuke Shri Kalyan Buildmart Pvt. Ltd. Principal Commissioner of Vs. D-44, Subhash Marg C- Scheme, Income Tax-2, Jaipur Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAKCS 1090B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Rajeev Sogani (CA) &…

Shri Madhavrav H. Fichadia, Rajkot-Gujarat vs. The Pr. CIT-1, Rajkot

In the result, appeal of the assessee is allowed

ITA 82/RJT/2022[2017-18]Status: DisposedITAT Rajkot14 Sept 2022AY 2017-18

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2017-18

For Appellant: Shri Mehul Ranpura, ARFor Respondent: Shri Sanjay Punglia, CIT (DR)
Section 143(3)Section 263Section 40

…ITA No.82/RJT/2022 Assessment Year: 2017-18 Page 1 of 5 IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT (Conducted through E-Court at Ahmedabad) BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Assessment Year: 2017-18 Shri Madhavdas Harilal Fichadia, vs. The Principal Commissioner Aalap Avenue, of Income Tax, Rajkot-1. A-13, University Road, Rajkot. [PAN – AETPK 0199 K] (Appellant) (Respondent) Appellant by : Shri Mehul Ranpura, AR Respondent by : Shri Sanjay Punglia, CIT (DR) Date of hearing : 24.08.2022 Date of pronouncement : 14.09.2022 O R D E R PER SUCHI…

R V Deshpande HUF, Bangalore vs. Principal Commissioner of Income Tax, Bangalore-1, Bangalore

In the result, the appeal by the assessee is partly allowed

ITA 340/BANG/2022[2017-18]Status: DisposedITAT Bangalore09 Sept 2022AY 2017-18

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy Sassessment Year : 2017-18

For Appellant: Shri S V Ravishankar, AdvocateFor Respondent: Shri V S Chakrapani, CIT(DR)(ITAT), Bengaluru
Section 143Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESEIDENT AND SHRI PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2017-18 R V Deshpande HUF, Vs. The Principal Commissioner No.372, Nilay, R.T. Nagar of Income Tax, Main Road, R.T. Nagar, Bangalore – 1, Bangalore – 560 032. Bangalore. PAN: AABHR 8684Q APPELLANT RESPONDENT Appellant by : Shri S V Ravishankar, Advocate Respondent by : Shri V S Chakrapani, CIT(DR)(ITAT), Bengaluru. Date of hearing : 30.08.2022 Date of Pronouncement : .09.2022 O R D E R Per Padmavathy S., Accountant Member This appeal is against the or…

M/S. Perth Ceramic Pvt. Ltd., Morbi vs. The Pr. CIT-3, Rajkot

In the result, appeal filed by assessee is allowed

ITA 191/RJT/2019[2015-16]Status: DisposedITAT Rajkot29 Jul 2022AY 2015-16

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 191/Rjt/2019 िनधा"रण वष"/Asstt. Years: 2015-2016 M/S. Perth Ceramic Pvt. Ltd., The Principal Commissioner Of At. Unchi Mandal, Vs. Income Tax-3, Opp. 66 Kva Sub Station, Rajkot. Morbi-363641. Pan: Aahcp6296P

For Appellant: Shri Mehul Ranpura, A.RFor Respondent: Shri Aarsi Prasad, CIT.D.R
Section 143(2)Section 143(3)Section 263Section 68

…आयकर अपीलीय अिधकरण, राजकोट "ायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER आयकर अपील सं./ITA No. 191/Rjt/2019 िनधा"रण वष"/Asstt. Years: 2015-2016 M/s. Perth Ceramic Pvt. Ltd., The Principal Commissioner of At. Unchi Mandal, Vs. Income Tax-3, Opp. 66 Kva Sub Station, Rajkot. Morbi-363641. PAN: AAHCP6296P (Applicant) (Respondent) Assessee by : Shri Mehul Ranpura, A.R Revenue by : Shri Aarsi Prasad, CIT.D.R सुनवाई क" तारीख/Date of Hearing : 07/07/2022 घोषणा क" तारीख /Date of Pronouncement: 29/07/2022 आदेश/O…

M/S. Haris Marine Products, Mangaluru vs. Principal Commissioner of Income Tax (Central), Bengaluru

In the result, the appeal by the assessee is allowed

ITA 383/BANG/2022[2017-18]Status: DisposedITAT Bangalore29 Jul 2022AY 2017-18

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Smt. Susan Dolores George, CIT(OSD)
Section 143Section 153DSection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESEIDENT AND SHRI PADMAVATHY S, ACCOUNTANT MEMBER ITA No.383 /Bang/2022 Assessment year : 2017-18 M/s. Haris Marine Products, Vs. The Principal Commissioner of Trinity Commercial Complex, Income Tax [Central], N.G. Road, Attavara, Bengaluru. Mangaluru – 575 001. PAN: AAAFH 9819G APPELLANT RESPONDENT Appellant by : Shri V. Srinivasan, Advocate Respondent by : Smt. Susan Dolores George, CIT(OSD) Date of hearing : 21.07.2022 Date of Pronouncement : 29.07.2022 O R D E R Per Padmavathy S., Accountant Member This appeal…

Sadhu Salian, Udupi vs. Principal Commissioner of Income Tax, Central, Bengaluru

In the result, the appeal by the assessee is allowed

ITA 457/BANG/2022[2018-19]Status: DisposedITAT Bangalore27 Jul 2022AY 2018-19

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy Sassessment Year : 2018-19

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Smt. Susan Dolores George, CIT(OSD)
Section 143Section 153DSection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESEIDENT AND SHRI PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2018-19 Sadhu Salian, Vs. The Principal Commissioner of D.No.16, MMV Bhavan, Income Tax [Central], Bunder Malpe, Bengaluru. Udupi – 576 106. PAN: ASZPS 5632F APPELLANT RESPONDENT Appellant by : Shri V. Srinivasan, Advocate Respondent by : Smt. Susan Dolores George, CIT(OSD) Date of hearing : 21.07.2022 Date of Pronouncement : 27.07.2022 O R D E R Per Padmavathy S., Accountant Member This appeal by the assessee is against the order of the Principal C…

Vanishree Holabsu Shettar, Guledgudd vs. Principal Commissioner of Income Tax, Hubli

In the result, the appeal is allowed in favour of the assessee

ITA 270/BANG/2022[2017-18]Status: DisposedITAT Bangalore25 Jul 2022AY 2017-18

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2017-18

For Appellant: Shri Ravi Shankar, AdvocateFor Respondent: Shri Srinivas T. Bidari, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2017-18 Vanishree Holabasu Shettar, Vs. The Principal Commissioner # 1, Hiral Street, of Income Tax, Behind Darak Medical, Hubli. Post : Guledgudd – 587 203. PAN: AEKPM 1689M APPELLANT RESPONDENT Appellant by : Shri Ravi Shankar, Advocate Respondent by : Shri Srinivas T. Bidari, CIT(DR)(ITAT), Bengaluru. Date of hearing : 14.07.2022 Date of Pronouncement : 25.07.2022 O R D E R Per Padmavathy S., Accountant Member This appeal by the assessee is agai…

Humuza Consultants, Mumbai vs. The Pr. CIT-19, Mumbai

In the result, appeal filed by the assessee is allowed and the stay application filed by the assessee is dismissed

ITA 726/MUM/2021[2015-16]Status: DisposedITAT Mumbai07 Jan 2022AY 2015-16

Bench: Shri Prashant Maharishi () & Shri Pavan Kumar Gadale () Humuza Consultants Vs The Principal Commissioner Of 6Th Floor, Wokhardt Towers Income-Tax-19, Mumbai Bandra Kurla Complex Room No. 228, 2Nd Floor, Bandra East Matru Mandir Mumbai-400 01 Tardeo Road, Pan : Aahfh9240E Mumbai-400 007 Appellant Respondent Appellant By Shri Jd Mistry & Hiten Chande Respondent By Shri K.K. Mishra (Cit,Dr) Date Of Hearing 07-12-2021 Date Of Pronouncement 07-01-2022 O R D E R Per Prashant Maharishi (Am):

Section 143Section 143(3)Section 263Section 56Section 68

…1 ITA 726/Mum/2021 SA 162/Mum/2021 IN THE INCOME TAX APPELLATE TRIBUNAL ―H‖ BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI (ACCOUNTANT MEMBER) AND SHRI PAVAN KUMAR GADALE (JUDICIAL MEMBER) Humuza Consultants vs The Principal Commissioner of 6th Floor, Wokhardt Towers Income-tax-19, Mumbai Bandra Kurla Complex Room no. 228, 2nd Floor, Bandra East Matru Mandir Mumbai-400 01 Tardeo Road, PAN : AAHFH9240E Mumbai-400 007 APPELLANT RESPONDENT Appellant by Shri JD Mistry & Hiten Chande Respondent by Shri K.K. Mishra (CIT,DR) Date of hearing 07-12-2021 Date of pronouncement 07-01-2022 O R D E R Per Prashant Maharishi (AM):…

Shree Cement Limited, Beawar vs. Pr.CIT, Udaipur

In the result, the appeal of the assessee is allowed

ITA 4/JPR/2021[2014-15]Status: DisposedITAT Jaipur23 Jun 2021AY 2014-15

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 04/Jp/2021 Assessment Year: 2014-15 Shree Cement Limited, Cuke Pr.Cit, Vs. Bangur Nagar, Post Box No. 33, Udaipur. Beawar. Pan No.: Aaccs 8796 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Dilip Desai (Ca) Shri Vijay Shah (Ca) Shri Mohit Choudhary (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 01/04/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 23/06/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of Ld. Pcit, Udaipur Dated 03.02.2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short The Act) For The Assessment Year 2014-15. The Grounds Of Appeal Taken By The Assessee Are As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Principal Commissioner Of Income Tax – Udaipur, (Here- In- After Referred To As Ld. Pr. Cit) Was Not Justified In Initiating Proceedings U/S 263 Of The Income Tax Act, 1961 Since The Order Passed By The Assessing Officer (A.O.) Was Neither Erroneous Nor Prejudicial To The Interest Of The Revenue.

For Appellant: Shri Dilip Desai (CA)For Respondent: Shri B.K. Gupta (CIT-DR)
Section 115JSection 142(1)Section 143(2)Section 143(3)Section 263

…Explanation 2 to Sec. 263 could not be invoked to make inquiry on each and every issue. Only gross case of inadequacy in inquiry & lack of application of mind can result an order to be termed as erroneous. Refer Torrent Pharmaceuticals Ltd. –vs.- DCIT (2018) 97 Taxmann.com 671 (Ahd ITAT): Held that expecting an AO to examine each and every item of income and expenditure and other transactions to the hilt is fraught with serious constraints and does not appear feasible. Noticeably, the assessee is a listed company and accounts are subjected to multiple audits by expert professionals. Ordinarily, it is only in a v…

J.R.D Tata Trust, Mumbai vs. CIT (E), Mumbai

In the result, the appeal is allowed

ITA 3738/MUM/2019[2014-15]Status: DisposedITAT Mumbai28 Dec 2020AY 2014-15
Section 12ASection 13(1)(c)Section 143(3)Section 263

…ITA No. 3738/Mum/2019 Assessment year: 2014-15 Page 1 of 43 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI F BENCH, MUMBAI [Coram: Justice P P Bhatt (President) and Pramod Kumar (Vice President)] Assessment year: 2014-15 J R D Tata Trust ……………………….Appellant Bombay House, 24, Homi Mody Street Fort, Mumbai 400 001[PAN: AAATT0165F] Vs Deputy Commissioner of Income Tax Exemption Circle 2(1), Mumbai ……………………Respondent Appearances by P J Pardiwala, Sr Advocate, along-with Madhur Agarwal, Sukh Sagar Syal, T P Ostwal and Indira Anand for the appellant Rajesh Damor (CIT-DR) and Brijendra Kumar for the respondent Date of c…

Ratan Tata Trust, Mumbai vs. CIT (E), Mumbai

In the result, the appeal is allowed

ITA 3737/MUM/2019[2014-15]Status: DisposedITAT Mumbai28 Dec 2020AY 2014-15
Section 12ASection 13(1)(c)Section 143(3)Section 263

…ITA No. 3737/Mum/2019 Assessment year: 2014-15 Page 1 of 43 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI F BENCH, MUMBAI [Coram: Justice P P Bhatt (President) and Pramod Kumar (Vice President)] Assessment year: 2014-15 Sir Ratan Tata Trust ……………………….Appellant Bombay House, 24, Homi Mody Street Fort, Mumbai 400 001[PAN: AAATS1013P] Vs Deputy Commissioner of Income Tax Exemption Circle 2(1), Mumbai ……………………Respondent Appearances by P J Pardiwala, Sr Advocate, along-with Madhur Agarwal, Sukh Sagar Syal, T P Ostwal and Indira Anand for the appellant Debashish Chandra (CIT-DR) and Brijendra Kumar for the respondent…

Sthapthya Buildcon Pvt. Ltd., Ahmedabad vs. The DCIT, Ward-4(1)(1), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 814/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad25 Nov 2019AY 2013-14

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 814/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2013-2014 Sthapathya Buildcon Pvt Ltd., D.C.I.T, Pavan Petroleum, Vs. Circle-4(1)(1), Nutun Mill Compund, Ahmedabad. Near City Gold Cinema, Saraspur, Ahmedabad. Pan: Aalcs8818G

Section 115JSection 143(3)Section 263Section 37

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’C’’ BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 814/AHD/2018 "नधा"रण वष"/Asstt. Year: 2013-2014 Sthapathya Buildcon Pvt Ltd., D.C.I.T, Pavan Petroleum, Vs. Circle-4(1)(1), Nutun Mill Compund, Ahmedabad. Near City Gold Cinema, Saraspur, Ahmedabad. PAN: AALCS8818G (Applicant) (Respondent) : Assessee by Shri Ketan H. Shah & Shri Aman K. Shah, A.Rs : Revenue by Shri O.P. Sharma, C.I.T. D.R सुनवाई क" तार"ख/Date of Hearing : 23/10/2019 घोषणा क" तार"ख /Date of Pron…