“reassessment proceedings”

A2 Jewels, Gujarat vs. ACIT, CC-1(3), Mumbai

In the result, appeal filed by the assessee is allowed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. A2 Jewels V. Acit - Central Circle – 1(3) 204, Spna Apartment Pratishtha Bhavan Jadda Khadi, Mahidharpura Mumbai - 400020 Surat, Gujarat - 395003 Pan: Aamfa7751J (Appellant) (Respondent)

that the assumption of jurisdiction by the Ld. Assessing Officer is bad in law as the conditions laid down under the Act for initiating reassessment proceeding u/s 147 of the Act have not been fulfilled. 2. On the fact and circumstances of the case ... Since we have already allowed the appeal of the assessee on merit, the ground raised by the assessee challenging the legality / validity of reassessment proceedings has been rendered academic and therefore we are not adjudicating the same and the same is left open.” 11. Since the issue is exactly similar

ITO 24(2), Mumbai vs. Kailash Chandra Gupta HUF, Mumbai

In the result, the appeal by the Revenue for the assessment year 2011–

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

alter any ground or add a new ground which may be necessary.” 4. The only grievance of the Revenue is against quashing of reassessment proceedings under section 147 of the Act by the learned CIT(A). 5. The brief facts of the case pertaining to this issue are: The assessee ... No.2339/Mum./2021 on 28/06/2011 declaring a total income of Rs.12,21,449. Based on the information received from the Directorate of Investigation, Kolkata, reassessment proceedings in the case of the assessee were initiated and notice under section 148 of the Act was issued on 13/09/2016, after recording the reasons

Income Tax Officer 24(2) (1), Mumbai vs. Kailash Chandra Gupta, Mumbai

In the result, the appeal by the Revenue for the assessment year 2011–

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

alter any ground or add a new ground which may be necessary.” 4. The only grievance of the Revenue is against quashing of reassessment proceedings under section 147 of the Act by the learned CIT(A). 5. The brief facts of the case pertaining to this issue are: The assessee ... No.2339/Mum./2021 on 28/06/2011 declaring a total income of Rs.12,21,449. Based on the information received from the Directorate of Investigation, Kolkata, reassessment proceedings in the case of the assessee were initiated and notice under section 148 of the Act was issued on 13/09/2016, after recording the reasons

M/S. Icici Securities Ltd, Mumbai vs. The Income Tax Officer (International Tax Ward)2(2) (2), Mumbai

In the result, the appeal is allowed in the terms indicated above

confirming the action of AO by treating the appellant as an assessee in default under section 201 of the Act notwithstanding the fact that reassessment proceedings have been initiated to assess the payee for the AY 2015- 16. 7. The learned CIT(A) erred in not adjudicating the ground

Rajdeep Marketing Pvt. Ltd., Mumbai vs. ITO, WD. 3(3)(1), Mumbai

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

Faceless Appeal Centre, Delhi and it relates to A.Y. 2012-13. The assessee, inter alia, has challenged the validity of addition made in the reassessment proceedings under section 147 of the I.T. Act. 2. The AO reopened the assessment of the year under consideration by issuing notice ... heard the parties and perused the record. From the assessment order passed by the AO in the present reassessment proceedings, I notice that the AO has made the addition towards interest income received on income tax refund, which got adjusted against the outstanding demand for other years. From the “reasons

DCIT Central Circle-8(4), Mumbai vs. M/S.Gandhar Yarn Private Limited, Mumbai

In the result, the appeal by the Revenue is dismissed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

01/08/2009, declaring a total loss of Rs. 24,643. The return of income was processed under section 143(1) of the Act. Thereafter, reassessment proceedings under section 147 of the Act were initiated in the case of the assessee based on information received from ... income of Rs. 11.76 crore which is chargeable to tax has escaped assessment within the meaning of section 147 of the Act. During the reassessment proceedings, the assessee was asked to furnish the name, address, PAN of share applicant. The assessee was also asked to furnish the share allotment certificates

DCIT 3(3)(1), Mumbai vs. Satya Securities Ltd, Mumbai

Accordingly, the appeal by the Revenue is dismissed, while the petition under Rule 27 of ITAT Rules, 1963, as filed by the assessee for the assessment year 2008–09, is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

press the petition dated 14/02/2022 filed under Rule 27 of ITAT Rules, 1963, whereby the assessee has raised jurisdictional ground challenging the validity of reassessment proceedings under section 147 of the Act. The aforesaid petition was taken on record and the present appeal was heard on same. 4. The brief ... 25/08/2009 determining the total loss at Rs. 1,89,319. 5. Subsequently, vide notice dated 29/03/2012 issued under section 148 of the Act, reassessment proceedings were initiated in the case of the assessee based on information received from SP, CBI – Anti Corruption Bureau, Mumbai that the assessee

DCIT 3(3)(1), Mumbai vs. Satya Securities Ltd, Mumbai

Accordingly, the appeal by the Revenue is dismissed, while the petition under Rule 27 of ITAT Rules, 1963, as filed by the assessee for the assessment year 2008–09, is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

press the petition dated 14/02/2022 filed under Rule 27 of ITAT Rules, 1963, whereby the assessee has raised jurisdictional ground challenging the validity of reassessment proceedings under section 147 of the Act. The aforesaid petition was taken on record and the present appeal was heard on same. 4. The brief ... 25/08/2009 determining the total loss at Rs. 1,89,319. 5. Subsequently, vide notice dated 29/03/2012 issued under section 148 of the Act, reassessment proceedings were initiated in the case of the assessee based on information received from SP, CBI – Anti Corruption Bureau, Mumbai that the assessee

M/S N. G. Group, Mumbai vs. ITO, Ward-28(2)(, Navi Mumbai

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

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am M/S N.G. Group The Income Tax Officer Plot No.8, Sector 11 3Rd Floor, 6Th Tower, Off Juinagar Railway Station, Vsrccl, Vashi Vs. Sanpada, Navi Mumbai–400703 Navi Mumbai –400709 (Respondent) (Appellant) Pan No. Aaffn9159E Assessee By : Ms. Ritika Agarwal, Ar Revenue By : Shri Chetan M. Kacha, Sr. Ar Date Of Hearing: 02.08.2022 Date Of Pronouncement: 01-11-2022

30/09/2009 declaring total income at Rs. Nil. The case was reopened by Issuance of notice dated 08/02/2016 u/s. 148 of the Act. The said reassessment proceedings were completed by passing an order dated 21/12/2016 u/s. 144 r.w.s. 147 of the Income Tax Act, 1961 thereby disallowing unsecured loans amounting

M/S. Bhairav Tube (India ), Mumbai vs. Income Tax Officer WD19(1) (2), Mumbai

Bench: Shri Prashant Maharishi, Am M/S, Bhairav Tube (India) Ito Wd19(1)(2) Shop No. 10,Ground Floor, Aaykar Bhavan, 6Th Khotwadi Lane, Vs. Mumbai- 400 021 Mumbai-400 004 (Respondent) (Appellant) Pan No.Aawft1198E Assessee By : None Revenue By : Shri. Ujjwal Chavan Sr Ar Date Of Hearing: 19.09.2022 Date Of Pronouncement: 31.10.2022

Form-35 was submitted by e-filing, hence CIT(A) ought to have mail address of the appellant. 2. Assessing Officer has initialed reassessment proceedings as per information provided by DGIT (Inv.), Mumbai based on information supplied by Sales Tax Department of Maharashtra State in respect of various parties issuing ... direct reduce and live link to his reason to believe, 646/MUM/2022 M/s Bhairav Tube (India): A.Y. 2011-12 therefore, Assessing Officer has not initiated reassessment. proceedings as per the norms laid down by Jurisdictional Bombay High Court and other High Court and Apex Court of India, therefore, reasons recorded

DCIT-CC 5(2), Mumbai vs. Novo Corporate Advisors Private Limited, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are held to be infructuous

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

sufficient explanation regarding the genuineness of services. In fact, M/s. Devesh Vasavada and Co. has represented and advised the assessee throughout the assessment and reassessment proceedings. Despite receiving satisfactory reply from M/s. Devesh Vasavada and Co., the Assessing Officer has disallowed the expenses on small ancillary matters such as maintenance

DCIT-CC 5(2), Mumbai vs. Novo Corporate Advisors Private Limited, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are held to be infructuous

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

sufficient explanation regarding the genuineness of services. In fact, M/s. Devesh Vasavada and Co. has represented and advised the assessee throughout the assessment and reassessment proceedings. Despite receiving satisfactory reply from M/s. Devesh Vasavada and Co., the Assessing Officer has disallowed the expenses on small ancillary matters such as maintenance

M/S. Nova Corporate Advisors Pvt. Ltd, Mumbai vs. Dy.Comm of Income Tax-Central Circle-5(2), Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are held to be infructuous

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

sufficient explanation regarding the genuineness of services. In fact, M/s. Devesh Vasavada and Co. has represented and advised the assessee throughout the assessment and reassessment proceedings. Despite receiving satisfactory reply from M/s. Devesh Vasavada and Co., the Assessing Officer has disallowed the expenses on small ancillary matters such as maintenance

M/S. Nova Corporate Advisors Pvt. Ltd, Mumbai vs. Dy.Comm of Income Tax-Central Circle-5(2), Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are held to be infructuous

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

sufficient explanation regarding the genuineness of services. In fact, M/s. Devesh Vasavada and Co. has represented and advised the assessee throughout the assessment and reassessment proceedings. Despite receiving satisfactory reply from M/s. Devesh Vasavada and Co., the Assessing Officer has disallowed the expenses on small ancillary matters such as maintenance

Keyman Advisory Services Pvt Ltd, Mumbai vs. Dy. Commissioner of Income Tax, Centra Circle-7(1), Mumbai

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

Bench: Shri Aby T Varkey & Shri Amarjit Singhkeyman Advisory Vs. Dy. Commissioner Of Services Pvt. Ltd. Income Tax, Central Floor-3, Plot-90, Ganpati Circle-7(1), Niwas, Dhirubhai Parekh Aayakar Bhavan, Marg, Ladwadi, Kalbadevi Mumbai – 400 020 Mumbai – 400002 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aadck2215K Appellant .. Respondent Appellant By : Vimal Punmiya Respondent By : Jagdish Jangid Date Of Hearing 12.10.2022 Date Of Pronouncement 31.10.2022 आदेश / O R D E R Per Amarjit Singh (Am):

facts and in the circumstances of the case and in law, the Ld. A.O. erred in completing the reassessment proceedings on the same grounds and facts and on the basis of same records and materials available during the assessment proceedings u/s 144 r.w.s 147 of the Act. In other words ... erred in completing the reassessment proceedings with a change of opinion. 3. On the facts and in the circumstances of the case and in law, the Ld. A.O. erred in reassessing the income of the appellant at Rs. 74,05,62,790/- as against NIL income. The appellant disputes wrongful

DCIT- CC- 6(4), Mumbai vs. Smt. Divya Sameer Gehlaut, Mumbai

In the result, the appeal of the Revenue stands dismissed

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.1428/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2013-14) Deputy Commissioner Of Income बिधम/ Smt. Divya Sameer Tax, Gehlaut Vs. Central Circle 6(4), 17Th Floor, Tower 1, Room No. 1925, 19Th Floor, Indianbulls Finance Air India Building, Centre, Senapati Bapat Nariman Point, Marg, Elphinstone Mumbai-400021 Road, Mumbai-400013 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Ajbpg2722R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri .Om Kandalkar Revenue By: Shri. T Sankar (Dr) सुनवाई की तारीख / Date Of Hearing: 29/09/2022 घोषणा की तारीख /Date Of Pronouncement: 31/10/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

ITA NO. 1428/MUM/2022 Smt. Divya Sameer Gahlaut IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI ABY T

The Dy CIT (It)-Circle-3(3)(2), Mumbai vs. Manish Vijay Mehta, Mumbai

In the result, appeals of the learned Assessing Officer and CO of the assessee for both the years are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

assessee before making the assessment. 16. It is submitted that this is against the rule of natural justice and therefore the entire reassessment proceedings require to be held as null and void. Page 179 182 of paper book. 17. It was also incumbent upon AO to independently apply his mind ... foreign assets have not been sourced from income arising/ accruing in India. The A.Y. 06-07& 07-08 Manish Vijay Mehta & Urvi Manish Mehta. reassessment proceedings cannot be initiated to undertake a fishing enquiry, especially when there is absolutely no material on record to even suggest that income chargeable

The Dy CIT (It)-Circle-3(3)(2), Mumbai vs. Manish Vijay Mehta, Mumbai

In the result, appeals of the learned Assessing Officer and CO of the assessee for both the years are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

assessee before making the assessment. 16. It is submitted that this is against the rule of natural justice and therefore the entire reassessment proceedings require to be held as null and void. Page 179 182 of paper book. 17. It was also incumbent upon AO to independently apply his mind ... foreign assets have not been sourced from income arising/ accruing in India. The A.Y. 06-07& 07-08 Manish Vijay Mehta & Urvi Manish Mehta. reassessment proceedings cannot be initiated to undertake a fishing enquiry, especially when there is absolutely no material on record to even suggest that income chargeable

The Dy CIT (It)-Circle-3(3)(2), Mumbai vs. Urvi Manish Mehra, Mumbai

In the result, appeals of the learned Assessing Officer and CO of the assessee for both the years are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

assessee before making the assessment. 16. It is submitted that this is against the rule of natural justice and therefore the entire reassessment proceedings require to be held as null and void. Page 179 182 of paper book. 17. It was also incumbent upon AO to independently apply his mind ... foreign assets have not been sourced from income arising/ accruing in India. The A.Y. 06-07& 07-08 Manish Vijay Mehta & Urvi Manish Mehta. reassessment proceedings cannot be initiated to undertake a fishing enquiry, especially when there is absolutely no material on record to even suggest that income chargeable