“reassessment proceedings”

DCIT, CC-7(3), Mumbai vs. M/S Classic Creations Impex Pvt Ltd., Mumbai

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील िं./ I.T.A. No. 4585/Mum/2019 (धििाारण वर्ा / Assessment Year: 2009-10 Dcit, Cc – 7(3), M/S Classic Creations Impex Pvt. Ltd. बिाम K-Wing, 3Rd Floor, Tex Centre R. No. 655, Aaykar Bhavan M. K. Road, Mumbai-400 020 (Next To Hdfc Bank), Chandivali, / Vs. Andheri(W), Mumbai-400 072 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aabcc-3350-M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Rushabh Mehta – Ld. Ar Revenue By : Shri Dharamvir Singh – Ld. Dr ुनवाई की तारीख/ : 24/11/2021 Date Of Hearing घोषणा की तारीख / : 18/02/2022 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeal By Revenue For Assessment Year (Ay) 2009-10 Arises Out Of The Order Of Learned Commissioner Of Income-Tax (Appeals)-49, Mumbai [Cit(A)] Dated 12/04/2019 In The Matter Of Assessment Framed By Learned Assessing Officer (Ao) U/S 143(3) R.W.S. 147 On 19/12/2016. The Sole Ground Urged By The Revenue Read As Under: - In The Circumstances & On The Facts Of The Case & In Law, The Cit(A) Has Erred In Deleting The Addition Of Rs.3,23,50,000/- Made By The Ao As Unexplained Cash Credit Received From M/S. Emma Auto Ancillary Pvt. Ltd. In The Form Of Share

received by the assessee was added as unexplained cash credit u/s 68. Appellate Proceedings 4. During appellate proceedings, the assessee challenged the validity of reassessment proceedings which were rejected by Ld. CIT(A). On merits, the assessee drew attention to the documentary evidences filed by it to establish identity

Dy CIT CC 6(4), Mumbai vs. Shri. Dilip J Thakkar, Mumbai

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

thus clearly contrary to the specific words of the statute and unambiguous intent of the legislature. We, therefore, vacate the relief, quashing the reassessment proceedings as time-barred, granted by the learned Commissioner (Appeals) and restore the stand of the Assessing Officer on this point. Our humble understanding is that

Dy CIT CC 6(4), Mumbai vs. Smt. Indira D Thakkar, Mumbai

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 1999-2000 The Dy. Cit, Central Circle-6(4), Smt. Indira D. Thakkar, Room No. 1925, 19Th Floor, Air 12/22B, Acropolis, Malabar Hills, India Building, Nariman Point, Mumbai-400 006 Vs. Mumbai-400021. Pan No. Aabpt 3389 E Appellant Respondent Revenue By : Mr. Sunil A. Umap, Cit-Dr Assessee By : Mr. Dilip Thakkar, Ar Date Of Hearing : 03/02/2022 Date Of Pronouncement : 14/02/2022

assessee. The Ld. CIT(A) following findings of the Hon’ble Delhi High Court in the case of Brahm Datta (supra) quashed the reassessment proceedings observing as under : “6.6 Section 149(1)(c) which extends the period to 16 years where income in relation to any asset located outside India ... case of the assessee. 6.4 Further, in the case of Soignee R. Kothari (supra) also the writ filed by the assessee against the reassessment proceedings was dismissed by the Hon’ble High Court on the ground that the assessee did not co-operate in giving consent waivers for obtaining copy

ITO 25(2)(5), Mumbai vs. Kirit Raojibhai Patel, Mumbai

In the result appeal of the learned AO is dismissed

Bench: Sri Prashant Maharishi, Am & Sri Pavan Kumar Gadale, Jm The Income Tax Officer- Kirit Raojibhai Patel 25(2)(5) 5Th Floor Ram Niwas, 34, Room No. 506, C-10, Vallabhnagar, N.S. Road, Vs. Pratyakshakar Bhavan, Bkc, Juhu, Vile Parele(W), Mumbai-400 051 Mumbai-400 049 (Appellant) (Respondent) Pan No. Aabpp3139J Assessee Represented By : Shri Rashmikant Choksey, Ar Department Represented By : Shri K.K. Mishra, Cit Dr Date Of Hearing: 08.12.2021 Date Of Pronouncement : 14.02.2022

assessee without Kirit Raojibhai Patel; AY 07-08 specifically discussing the ground number II raised by the assessee in respect of initiation of reassessment proceedings u/s 148 of the act ii. on the facts and in the circumstances of the case and in law, the learned CIT – A in concluding ... have carefully considered the rival submissions on perusal of various orders passed by the learned assessing officer in original assessment proceedings as well as reassessment proceedings, orders of the learned CIT – A in the original appellate proceedings as well as in appeal against the reassessment order, the order

M/S. Sharda Lab P. Ltd., Mumbai vs. ITO-8(2)(1), Mumbai

In the result, appeal filed by the assessee is allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

neither the assessment order nor the reasons communicated indicate that the Assessing officer had applied his mind to the issue and therefore the entire reassessment proceedings are invalid, without jurisdiction, has no legs to stand and hence must be quashed. II. On the facts and in the circumstances

M/S. Meridian Gems, Surat vs. ACIT CC -1(3), Mumbai

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

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

Meridian Gems ITA no.451/Mum./2022 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 and in law the Ld. CIT (A) erred ... Bhawarlal Jain, admitted that he is engaged in issuing accommodation entries for bogus loans/sales/import through 70 different concerns operated and managed by him, the reassessment proceedings were initiated in assessee’s case. In response to the notice issued under section 148 of the Act, the assessee filed its return