DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

purchase during the year?" 3. Question No. i arises out of the judgment of the Income Tax Appellate Tribunal in remanding the issue before the Assessing Officer for proper verification of facts. The record would suggest that the assessee, in view of its success before the Tribunal on the issue of disallowance of interest credited to Interest Suspense Account

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

purchase during the year?" 3. Question No. i arises out of the judgment of the Income Tax Appellate Tribunal in remanding the issue before the Assessing Officer for proper verification of facts. The record would suggest that the assessee, in view of its success before the Tribunal on the issue of disallowance of interest credited to Interest Suspense Account

DENA BANK,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX 2, MUMBAI

In the result, appeal filed by the assesse is allowed

Bench: Shri G. Manjunatha & Shri Ravish Sooddena Bank Vs. Pcit-2 Room No.344, 3Rd Floor Accounts Department Dena Bank Building Aaykar Bhawan 2Nd Floor M.K.Road 17/B, Horniman Circle Mumbai-400 020 Fort, Mumbai-400 023 Pan/Gir No.Aaacd4249B Appellant) .. Respondent)

36 Dena Bank "The submission of the revenue was that while passing the assessment order, the Assessing Officer did not consider the aspect specifically whether the expenditure in question was revenue or capital expenditure. That argument predicated on the assessment order, which apparently did not give any reason while allowing the entire expenditure as revenue expenditure. However, that, by itself

WIND WORLD INDIA LTD.,MUMBAI vs. DCIT CENTRAL CIRCLE-3(1), MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

WIND WORLD INDIA LTD.,MUMBAI vs. DCIT CENTRAL CIRCLE-3(1), MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

DCIT CENTRAL CIRCLE 3 (1), MUMBAI vs. WIND WORLD INDIA LIMITED, MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

DCIT - CC 3(1), MUMBAI vs. WIND WORLD INDIA LTD., MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

DCIT CENTRAL CIRCLE-3(1), MUMBAI vs. WIND WORLD INDIA LTD., MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

WIND WORLD INDIA LIMITEAD,MUMBAI vs. DCIT CENTRAL CIRCLE-3(1), MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

DCIT - CC 3 (1), MUMBAI vs. WIND WORLD INDIA LTD., MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

DCIT CENTRAL CIRCLE-3(1), MUMBAI vs. WIND WORLD INDIA LTD., MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

WIND WORLD INDIA LIMITEAD,MUMBAI vs. DCIT CENTRAL CIRCLE-3(1), MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

WIND WORLD INDIA LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE 3 (1), MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

WIND WORLD INDIA LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE 3 (1), MUMBAI

In the result, appeal filed by the assessee in ITA number

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

purchase of site development right from that company invoking the provisions of Section 40 A (2) (b) and Section 37 (1) of the act. The learned assessing officer further disallowed ₹ 60 crores u/s 37 (1) which the assessee voluntarily disallowed in the proceedings before the settlement commission. The AO further made a disallowance

NAVNIDHI STEEL AND ENGG CO. P.LTD,MUMBAI vs. DCIT 5(2)(1), MUMBAI

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh, Assessment Year: 2007-08

Section 40A(3) of the Act. By adopting these measures, the purchases were inflated as raw material diamond were available in grey market at much lower price .The diamond merchants issues cheques in favour of benami concerns against purchase bills obtained by them against which they receive cash. The list of such benami companies was found during the course

INCOME TAX OFFICER, KALYAN vs. J D ELECTRIC WORKS, KALYAN

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Narender Kumar Choudhry () Assessment Year: 2009-10

section 143(3) r.w.s. 147 of the ) r.w.s. 147 of the Act. On further appeal On further appeal, the ld CIT(A) deleted the addition. Aggrieved, , the ld CIT(A) deleted the addition. Aggrieved, the Revenue is in appeal raising grounds reproduced above. the Revenue is in appeal raising grounds reproduced above. the Revenue is in appeal raising grounds reproduced

PID P.LTD,MUMBAI vs. ASST CIT CIR 11(1), MUMBAI

In the result the Cross Objection of the assessee is allowed for statical purpose

Bench: Shri B.R.Baskaran & Shri Pawan Singh

purchase. On appeal before the ld. CIT(A) the disallowance on account of bogus expenses/purchases was confirmed and the disallowance u/s 36(1)(ii) on account of commission to Directors was deleted. Thus, the Revenue has filed appeal against the deletion of disallowance u/s 36(1)(ii) and the assessee filed Cross Objection against sustaining the alleged bogus expenses/purchases

HEMAL MAGANLAL SHAH,MUMBAI vs. CIT (A) NFAC, DELHI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Aby T Varkey & Shri Gagan Goyalhemal Maganlal Shah 84, 4Th Floor, Pankaj-B, Lbs Road, Ghatkopar (W), Mumbai-400086. Pan: Amfps8271G ...... Appellant Vs. The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Mumbai. ..... Respondent Appellant By : Sh. H.M. Shah Respondent By : Sh. Prasoon Kabra Date Of Hearing : 17/05/2022 Date Of Pronouncement : 10/08/2022 Order Per Gagan Goyal, A.M:

bogus purchase expenditure was nothing but concealment and, therefore, penalty was rightly levied - Held, yes [2012] 25 taxmann.com 83 (Mumbai) Clariant Chemicals India Ltd. v. Assistant Commissioner of Income-tax, 1(1) Section 271(1)(c) of the Income-tax Act, 1961 - Penalty - For concealment of income - Assessment year 2003-04 - Whether entries in books of account or auditors' reports