DEPUTY COMMISSIONER OF INCOME TAX -23(1) , MUMBAI vs. KALPSARU DIAMONDS, MUMBAI

In the result, the grounds raised by the assessee as well as In the result, the grounds raised by the assessee as well as Revenue are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Years: 2012-13 Kalpsaru Diamonds, Acit 23(2), Jw 8040/250, Bharat Diamond Piramal Chambers, Vs. Bourse, Bkc, Bandra East, Mumbai-400013. Mumbai-400051. Pan No. Aaafk 6960 H Appellant Respondent Assessment Years: 2012-13 Dy. Cit-23(1), Kalpsaru Diamonds, Room No. 511, Fifth Floor, Jw 8040/250, Bharat Diamond Piramal Chambers, Parel, Vs. Bourse, Bkc, Bandra East, Lalbaugh-400012. Mumbai-400051. Pan No. Aaafk 6960 H Appellant Respondent

search and seizure action in the cases of sh n in the cases of sh Gautam Bhanwarlal Jain and Rajendra Kumar Jain, it was revealed Gautam Bhanwarlal Jain and Rajendra Kumar Jain, it was revealed Gautam Bhanwarlal Jain and Rajendra Kumar Jain, it was revealed that the assessee firms obtained bogus accommodation entry assessee firms obtained bogus accommodation entry assessee

ITO-19(3)(1), MUMBAI vs. S P INTERNATIONAL, MUMBAI

In the result the appeal filed by the revenue stands dismissed

Bench: Smt. Beena Pillai () I.T.A. No.6580/Mum/2024 Assessment Year: 2010-11

search & seizure on their premises that they are only providing accommodation entries. In view of the above 5 ITA 6580/Mum/2024 A.Y. 2010-11 and also in view of the detailed findings given by the AO in his assessment order, I hold that there is no infirmity in the action of the AO in treating these purchases as bogus

ITO 23(1)(1), MUMBAI, MUMBAI vs. M/S CHINAR GEMS, MUMBAI

In the result, the cross-appeal for the

search and seizure action conducted in the case of Shri Bhanwarlal Jain and his son, who indulge in providing accommodation entries like bogus purchases

CHINAR GEMS,BG KHER ROAD WORLI, MUMBAI, MAHARASHTRA vs. INCOME TAX OFFICER CIRCLE 23(1)(1), MUMBAI, PIRAMAL CHAMBER,MUMBAI

In the result, the cross-appeal for the assessment year 2010-11 is dismissed

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhail

search and seizure action conducted in the case of Shri Bhanwarlal Jain and his son, who indulge in providing accommodation entries like bogus purchases

ACIT, MUMBAI vs. ROMIL DIAM, MUMBAI

In the result, above appeal of the Revenue is allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

bogus purchases from a few parties i.e Rare Diamond, KALASH,AADI etc. aggregating to Rs. 2,14,04,724/-. The AO observed that these concerns belonged to Rajendra Jain Group who were Entry/Accommodation bill facilitators of fraudulent financial transactions. The above concerns managed by Rajendra Jain were all dummy ones. It was well established during the search and seizure

ACIT CENTRAL CIRCLE 7 (1) , MUMBAI vs. LLOYDS ENTERPRISES LIMITED, MUMBAI

In the result, for all the

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

DCIT-14(1)(2), MUMBAI vs. M/S. EKTA EVERGLADE HOMES PVT LTD.,, MUMBAI

In the result, the ground raised by the revenue is allowed

seizure cases, the concept of pecuniary jurisdiction has no application, as search assessments are not assigned to any Income-tax Officer. The lowest authority empowered to complete a search assessment is the Assistant Commissioner of Income-tax or Deputy Commissioner of Income-tax. We note that the Hon'ble Delhi High Court in Chaudhury Skin Trading Company &Ors. (supra

DCIT, CIR-14(1)(2), MUMBAI vs. M/S. EKTA EVEGLADE HOMES PVT LTD.,, MUMBAI

In the result, the ground raised by the revenue is allowed

Bench: SHRI ANIKESH BANERJEE (Judicial Member), SMT. RENU JAUHRI (Accountant Member)

seizure cases, the concept of pecuniary jurisdiction has no application, as search assessments are not assigned to any Income-tax Officer. The lowest authority empowered to complete a search assessment is the Assistant Commissioner of Income-tax or Deputy Commissioner of Income-tax. We note that the Hon’ble Delhi High Court in Chaudhury Skin Trading Company &Ors. (supra

LLOYDS METALS AND ENERGY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -7(1), MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

LLOYDS METALS AND ENERGY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, 7(1), MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

LLOYDS METALS AND ENERGY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -7(1), MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

ACIT CENTRAL CIRCLE 7 (1), MUMBAI vs. LLOYDS METALS AND ENERGY LIMITED, MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRIISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

LLOYDS METALS AND ENERGY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -7(1), MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

LLOYDS METALS AND ENERGY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -7(1), MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

ACIT CENTRAL CIRCLE 7 (1), MUMBAI vs. LLOYDS ENTERPRISES LIMITED, MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

LLOYDS METALS AND ENERGY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -7(1), MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

ACIT CENTRAL CIRCLE 7 (1), MUMBAI vs. LLOYDS METALS AND ENERGY LIMITED, MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRESH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases

ACIT CENTRAL CIRCLE 7 (1), MUMBAI vs. LLOYDS METALS AND ENERGY LIMITED, MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

seizure action, post search investigation and assessment proceedings in the case of searched entities, it is established that assessee is engaged in the practice of availing bogus sales & purchases