“prohibition of benami property transactions”

DCIT, CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. JARANDESHWAR SUGAR MILLS PRIVATE LIMITED, PUNE

In the result, all the appeals of the Revenue are dismissed

using that precise expression. If indeed such were the\ncase, it was incumbent upon the Department to invoke the\nmachinery of the Prohibition of Benami Property Transactions Act.\nWe note, upon the assessee's submission—which remained\nundisputed—that proceedings under the Benami Property\nTransactions Act were in fact initiated

DCIT, CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. JARANDESHWAR SUGAR MILLS PVT. LTD., PUNE

In the result, all the appeals of the Revenue are dismissed

using that precise expression. If indeed such were the case, it was incumbent upon the Department to invoke the machinery of the Prohibition of Benami Property Transactions Act. We note, upon the assessee's submission—which remained undisputed—that proceedings under the Benami Property Transactions Act were in fact initiated

DCIT CENTRAL CIRCLE 8 1 MUMBAI, MUMBAI vs. JARANDESHWAR SUGAR MILLS PVT LTD, PUNE

In the result, all the appeals of the Revenue are dismissed

using that precise expression. If indeed such were the\ncase, it was incumbent upon the Department to invoke the\nmachinery of the Prohibition of Benami Property Transactions Act.\nWe note, upon the assessee's submission—which remained\nundisputed—that proceedings under the Benami Property\nTransactions Act were in fact initiated

DCIT CENTRAL CIRCLE-2(3), MUMBAI vs. M/S ASIAN STAR COMPANY LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm M/S Asian Star Company Ltd. Dcit, Central Circle-2(3) Room No.803, 8Th Floor, 114-C, Mitta Court, Pratishtha Bhavan, Vs. M.K. Road, Churchgate, Nariman Point, Mumbai-400 020 Mumbai-400 021 (Appellant) (Respondent) Pan No. Aaaca4856B Assessee By : Shri Suchek Anchaliya, Ms. Vaishali More, Ars Revenue By : Smt. Shailja Rai, Cit Dr Date Of Hearing: 28.02.2023 Date Of Pronouncement : 23.05.2023

commission income has been accepted. The learned CIT – A further noted that even the proceedings initiated under section 24 of the prohibition of Benami property transaction act 1988 initiated against the recipient of the commission also held that these entities are not bogus. Accordingly he deleted the addition ... appellant and related concerns, was also forwarded to the Initiating Officer (1.0.) as referred to in section 24 of the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act'). The Initiating Officer issued provisional order u/s 24(4) of the PBPT Act on 8 alleged benamidars, including M/s Flora Impex

M/S. ALAG SECURITIES PVT LTD,MUMBAI vs. THE CIT (A) -22, MUMBAI

In the result ground number 5 and 6 of the appeal are dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm The Cit(A)-22 Room No. 513, M/S Alag Securities Pvt. Ltd. 5T Floor, Earnest House, Block H, Shri Sadashiv Chs Ltd., 6Th Road, Santacruz (East), Nariman Point, Vs. Mumbai 400 055 Mumbai-400 021

providing accommodation entries that too for decades and in multiple cases. Income Tax Authorities are empowered to invoke the provisions of Prohibition of Benami Property Transactions Act M/s Alag Securities Pvt. Ltd; A.Y. 04-05 1988 as well as Prevention of Money Laundering Act, 2002. We advise the learned assessing