“reassessment proceedings”

Maharashtra Hybrid Seeds Company Private Limited, Mumbai vs. Principle Commissioner of Income Tax, Mumbai

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

over the capital expenditure incurred on scientific research. Accordingly, the Ld A.R submitted that the AO himself has verified the Form 3CL in the reassessment proceedings and hence the object of impugned revision order has already been fulfilled by the AO in the reassessment proceedings. Accordingly, he prayed for quashing ... capital and revenue expenditure on account of non-furnishing of Form 3CL. However, the AO has examined the capital expenditure only in the reassessment proceedings. She further submitted that the impugned revision order has been passed against the original assessment order and hence, non-examination of the claim

Sai Shipping Company Pvt Ltd, Mumbai vs. Income Tax Officer/NFAC, Delhi

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

normal provisions of the Act had been accepted and the total income was determined u/s 115JB of the Act at Rs.3.16 crores. In the reassessment proceedings, the AO referred the matter relating to international transactions to the Transfer Pricing Officer. After passing of draft assessment order, the assessee filed ... above. I have carefully considered the assessment records containing the submissions made by the assessee in response to various notices issued during the assessment reassessment proceedings and have noted that the assessee has not fully and truly disclosed the following material facts necessary for his assessment for the year under

Magan Vadhaji Prajapati, Mumbai vs. Income Tax Officer WD 19(2) 93), Mumbai

In the result, appeal by the assessee for assessment year 2009–10 is partly allowed

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

such bogus bills. On the basis of the Magan Vadhaji Prajapati ITA No.559/Mum./2022 ITA no.560/Mum./2022 aforesaid information from the investigation wing, reassessment proceedings were initiated in the case of the assessee under section 147 of the Act. During the course of reassessment proceedings, in order to verify ... were found by the Sales Tax Department of Maharashtra to be indulged in practice of providing bogus sales/purchase bills without supplying any goods, reassessment proceedings in the case of assessee were initiated. Further, in order to verify the genuineness of the purchases made by the assessee, notice under section

Magan Vadhaji Prajapati, Mumbai vs. Income Tax Officer WD 19(2) (3), Mumbai

In the result, appeal by the assessee for assessment year 2009–10 is partly allowed

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

such bogus bills. On the basis of the Magan Vadhaji Prajapati ITA No.559/Mum./2022 ITA no.560/Mum./2022 aforesaid information from the investigation wing, reassessment proceedings were initiated in the case of the assessee under section 147 of the Act. During the course of reassessment proceedings, in order to verify ... were found by the Sales Tax Department of Maharashtra to be indulged in practice of providing bogus sales/purchase bills without supplying any goods, reassessment proceedings in the case of assessee were initiated. Further, in order to verify the genuineness of the purchases made by the assessee, notice under section

Marine Cables & Wire Pvt. Ltd. (Now Merged With Apar Industries Ltd.), Mumbai vs. ITO Ward- 4 (2)(4), Mumbai

In the result, appeal by the assessee is allowed for statistical purpose

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

provided such accommodation entries to the assessee. Accordingly, notice under section 148 of the Act was issued in the case of the assessee and reassessment proceedings were initiated. During the course of reassessment proceedings, assessee was asked to provide the details of shareholding pattern, justification and calculation of share premium ... share capital of the assessee with premium, however, audited financials of M/s Talent Infoways Ltd could not submitted by the assessee during the reassessment proceedings and therefore, the AO made the addition in respect of share application money received from M/s Talent Infoways Ltd Marine Cables & Wire

J V Shah, Mumbai vs. ITO Ward-29(1)(5), Mumbai

In the result, appeal by the assessee is dismissed

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

engaged in financial transaction. Accordingly, notice under section 148 of the Act was issued on 04/02/2015, after recording reasons. During the course of reassessment proceedings, independent enquiries have been carried out by issuance of notice under section 133(6) of the Act to M/s Navkar Diamonds to ascertain the genuineness ... furnished by M/s Navkar Diamonds. 9. We have considered the rival submissions and perused the material available on record. In the present case, the reassessment proceedings were initiated under section 147 of the Act on the basis of information received from investigation wing regarding the beneficiaries of accommodation entries provided

Surplus Finvest P. Ltd, Mumbai vs. Pr. CIT-11, Mumbai

In the result, appeal by the assessee is dismissed

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

under section 263 of the Act has also expired in the present case. It was also brought to our notice that on similar issue reassessment proceedings were initiated in the case of the assessee under section 147 of the Act, however, no addition was made by the Assessing Officer ... No.1971/Mum./2020 30/09/2021, however, no order has been passed by the Assessing Officer till date. 11. We further find that the Assessing Officer initiated reassessment proceedings under section 147 of the Act in the case of the assessee, for the year under consideration, on the basis of very same information

Shri Ganadhiraj Co-Op. Hsg. Soc. Ltd., Mumbai vs. CIT (A) -40, Mumbai

In the result, appeal by the assessee is allowed

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

respectively, during the year under consideration, which has not been declared in the return of income for assessment year 2010–11, reassessment proceedings were initiated in the case of the assessee and notice under section 148 of the Act was issued. Pursuant thereto, assessee filed a letter requesting that ... return filed on 21/03/2012, be treated as having been filed in response to notice under section 148 of the Act. During the course of reassessment proceedings, assessee submitted that the property was purchased and occupied by the assessee society since 1969. As the seller of the property had expired