DHARMENBHAI MAHENDRABHAI SUTARIA,HUF,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(2), , AHMEDABAD

In the result appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalasstt. Sr.No.

u/s 153A of the Act as on 7th December 2016 wherein declared additional income of Rs. 25 lakhs against the cash deposited in the bank account and contributed to the partnership firm. The AO against the additional income offered initiated penalty proceedings under section 271

RASHMIN KANTILAL VAKTA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Bench: Ms.Suchitra R. Kamble & Shri Makarand V.Mahadeokar

271(1)(c) for furnishing inaccurate particulars of income. 6. In A.Y. 2014–15, the AO adopted a similar line of inquiry and examined the assessee’s bank account with the same society. The total deposits identified during the relevant year amounted to Rs.88,66,48,200/-. The assessee once again claimed that the deposits represented cash sales, interbank transfers

MANISH RANJAN, DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD, AAYKAR BHAWAN ASHRAM ROAD, AHMEDABAD vs. RASHMIN KANTILAL VAKTA, ELLISBRIDGE AHMEDABAD GUJARAT

Bench: Ms.Suchitra R. Kamble & Shri Makarand V.Mahadeokar

271(1)(c) for furnishing inaccurate particulars of income. 6. In A.Y. 2014–15, the AO adopted a similar line of inquiry and examined the assessee’s bank account with the same society. The total deposits identified during the relevant year amounted to Rs.88,66,48,200/-. The assessee once again claimed that the deposits represented cash sales, interbank transfers

RASHMIN KANTILAL VAKTA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Bench: Ms.Suchitra R. Kamble & Shri Makarand V.Mahadeokar

271(1)(c) for furnishing inaccurate particulars of income. 6. In A.Y. 2014–15, the AO adopted a similar line of inquiry and examined the assessee’s bank account with the same society. The total deposits identified during the relevant year amounted to Rs.88,66,48,200/-. The assessee once again claimed that the deposits represented cash sales, interbank transfers

MANISH RANJAN, DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD, AHMEDABAD vs. RASHMIN KANTILAL VAKTA, AHMEDABAD

Bench: Ms.Suchitra R. Kamble & Shri Makarand V.Mahadeokar

271(1)(c) for furnishing inaccurate particulars of income. 6. In A.Y. 2014–15, the AO adopted a similar line of inquiry and examined the assessee’s bank account with the same society. The total deposits identified during the relevant year amounted to Rs.88,66,48,200/-. The assessee once again claimed that the deposits represented cash sales, interbank transfers

PARESHKUMAR PUNAMCHAND SHAH,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-2(2)(4), AHMEDABAD

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

Bench: Shri Ramit Kochar (Accountant Member)

penalty U/s 271(1)(b) for non compliance of notices, u/s. 271(1)(c) for concealment of income should not be initiated and levied in your case. 4. You are therefore requested to furnish your explanation/ clarification along with the evidences in this regard as well as point wise reply of notices u/s. 142(1) on or before 13/12/2018 positively

THE ITO WARD-5(3)(1) (PREVIOUSLY THE ACIT, CENTRAL CIRCLE-2(2)), AHMEDABAD vs. SHRI SAKETKUMAR RUGNATH TANNA LEGAL HEIR OF LATE SMT. INDUMATIBEN RUGNATH TANNA, AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

cash deposited in the bank account. 5. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in making the addition u/s 69 without appreciating the facts in proper perspective. 6. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in holding that no payment

SMT. RITABEN SAKETKUMAR TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

cash deposited in the bank account. 5. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in making the addition u/s 69 without appreciating the facts in proper perspective. 6. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in holding that no payment

SAKETKUMAR RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

cash deposited in the bank account. 5. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in making the addition u/s 69 without appreciating the facts in proper perspective. 6. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in holding that no payment

SAKETKUMAR RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

cash deposited in the bank account. 5. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in making the addition u/s 69 without appreciating the facts in proper perspective. 6. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in holding that no payment

SAKETKUMAR RUGNATH TANNA LEGAL HEIR OF LATE SMT. INDUMATIBEN RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

cash deposited in the bank account. 5. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in making the addition u/s 69 without appreciating the facts in proper perspective. 6. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in holding that no payment

THE ACIT, CENTRAL CIRCLE-2(2), AHMEDABAD vs. SMT. RITABEN SAKETKUMAR TANNA, AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

cash deposited in the bank account. 5. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in making the addition u/s 69 without appreciating the facts in proper perspective. 6. The learned CIT(A) erred in fact and law in confirming the action of the Id. AO in holding that no payment

MANAS KUMAR DAS,AHMEDABAD vs. THE ITO, WARD-5(1)(3), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

271(l)(c) by stating that the assessee has concealed ITA Nos. 1277&1278/Ahd/2024 Manas Kumar Das vs. ITO Asst. Year –2011-12 - 5– the particulars of income which is not valid notice as the assessee has shown the same in his return filed under section 148 of the Act. Penalty Proceeding U/s 271F: 20) AO has initiated the penalty

MANAS KUMAR DAS,AHMEDABAD vs. THE ITO, WARD-5(1)(3), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

271(l)(c) by stating that the assessee has concealed ITA Nos. 1277&1278/Ahd/2024 Manas Kumar Das vs. ITO Asst. Year –2011-12 - 5– the particulars of income which is not valid notice as the assessee has shown the same in his return filed under section 148 of the Act. Penalty Proceeding U/s 271F: 20) AO has initiated the penalty

KAUSHIK PRAVINCHANDRA GOHEL,BHAVNAGAR vs. THE ASSESSING OFFICER, WARD-1(2), BHAVNAGAR

In the result, the appeal of the assessee is allowed with respect to levy of penalty under Section 271(1)(b) of the Act for A

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

u/s 153A/143(3) of the Act for AY 2010-11 was untenable both on facts and in law.” 15. Accordingly, on going through the above report by the Investigation Wing and the order passed by ITAT, Mumbai Bench in the case of Renukamat Multi State Cooperative Union Credit Society Ltd. (supra), we are of the considered view that the assessee

KAUSHIK PRAVINCHANDRA GOHEL,BHAVNAGAR vs. THE ASSESSING OFFICER, WARD-1(2), BHAVNAGAR

In the result, the appeal of the assessee is allowed with respect to levy of penalty under Section 271(1)(b) of the Act for A

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

u/s 153A/143(3) of the Act for AY 2010-11 was untenable both on facts and in law.” 15. Accordingly, on going through the above report by the Investigation Wing and the order passed by ITAT, Mumbai Bench in the case of Renukamat Multi State Cooperative Union Credit Society Ltd. (supra), we are of the considered view that the assessee

KAUSHIK PRAVINCHANDRA GOHEL,BHAVNAGAR vs. THE ASSESSING OFFICER, WARD-1(2), BHAVNAGAR

In the result, the appeal of the assessee is allowed with respect to levy of penalty under Section 271(1)(b) of the Act for A

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

u/s 153A/143(3) of the Act for AY 2010-11 was untenable both on facts and in law.” 15. Accordingly, on going through the above report by the Investigation Wing and the order passed by ITAT, Mumbai Bench in the case of Renukamat Multi State Cooperative Union Credit Society Ltd. (supra), we are of the considered view that the assessee

KAUSHIK PRAVINCHANDRA GOHEL,BHAVNAGAR vs. THE ASSESSING OFFICER, WARD-1(2), BHAVNAGAR

In the result, the appeal of the assessee is allowed with respect to levy of penalty under Section 271(1)(b) of the Act for A

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

u/s 153A/143(3) of the Act for AY 2010-11 was untenable both on facts and in law.” 15. Accordingly, on going through the above report by the Investigation Wing and the order passed by ITAT, Mumbai Bench in the case of Renukamat Multi State Cooperative Union Credit Society Ltd. (supra), we are of the considered view that the assessee