HEMENDRA RANCHOODDAS MERCHANT,MUMBAI vs. DY CIT, CENTRAL CIRCLE-6(2), MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(2),, MUMBAI vs. HEMENDRA MERCHANT, MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(2), , MUMBAI vs. HEMENDRA MERCHANT , MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

DY COMMISSIONER OF INCOME TAX, , MUMBAI vs. HEMENDRA MERCHANT, MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(2), MUMBAI vs. HEMENDRA MERCHANT, MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

HEMENDRA RANCHOODDAS MERCHANT ,MUMBAI vs. DY CIT-CENTRAL CIRCLE-6(2), MUMBAI.

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

HEMENDRA RANCHOODDAS MERCHANT,MUMBAI vs. DY CIT CEN-CIRCLE 6(2). MUMBAI, MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

HEMENDRA RANCHOODDAS MERCHANT,MUMBAI vs. DY CIT-CENTRAL CIRCLE-6(2), MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

HEMENDRA RANCHOODDAS MERCHANT ,MUMBAI vs. DY CIT-CENTRAL CIRCLE-6(2), MUMBAI.

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(2), MUMBAI vs. HEMENDRA MERCHANT , MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(2), MUMBAI. vs. HEMENDRA MERCHANT , MUMBAI

In the result, all the appeals of the assessee are allowed as partly for statistical purposes and appeal of the revenue except assessment year of 2005-06 are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

245C, an order under subsection (4) of section 245D has been passed out providing for terms of settlement (iv) ………… the proceedings before the ITSC shall abate on the specified date. The specified date has been defined Explanation below section 245HA as under: (a) ……….. (b) ……….. (c) ……….. (ca) in respect of an application referred in (iiia) the day on which the order

SHRI MOHAN THAKUR,MUMBAI vs. A.C.I.T. CENT. CIR. 8(4), MUMBAI

In the result, the appeal of the assessee is hereby ordered to be allowed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.7413 /Mum/2017 (ननधधारण वर्ा / Assessment Years: 2008-09) बनधम/ Shri Mohan Thakur Acit, Central Circle-8(4) 6Th Floor Aayakar Bhavan, 4, Flora Vila, 35, St. Vs. M.K. Road, Mumbai- Andrews Road, Bandra 400020. (W), Mumbai-400050. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. :Aaapt2966N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri Durga Dutt/ Akhtar H. Ansari (Dr) Assessee By: Dr. K. Shivaram सुनवाई की तारीख / Date Of Hearing: 15/11.2019 घोषणा की तारीख /Date Of Pronouncement: 09/01/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 30.10.2017 Passed By The Commissioner Of Income Tax (Appeals)-50, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2008- 09. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “The Learned Cit(A) Erred In Upholding The Validity Of Notice U/S 148 Where The Proceedings U/S 153C Had Already Been Initiated Which Were Dropped & Immediately The Reassessment Proceedings Had Been Initiated Without Any Fresh Material On Record & Hence Reopening Is Void- Ab - Initio Merit : Addition Of Rs.237.00.000/- Based On Entries In Diary Of Third Person: 2. No Addition Can Be Made Based On Entries Found In The Books In Third Party'S Premises Since No Search U/S 132 Had Taken Place On The Assessee & Hence S.132(4A) Would Not Be Applicable To The Present Facts Of The Case. In View Of The Same The Entire Addition May Be Deleted.

capital gain on account of transfer of shares in his return of income for assessment. As such income to the tune of Rs. 2,02,10,000 (20,41,00,000 sale price-1,00,000 cost price) has thus escaped assessment for the asst. yr. 2006-07." In view of the above, we reject the contention of the learned

DEPUTY COMMISSIONER OF INCOME TAX, CENTRE-CIRCLE-6(4), MUMBAI vs. SHRI RAJIV RATAN, NEW DELHI

In the result, the appeal of the revenue is dismissed and cross objection filed by the assessee is also dismissed

Bench: Shri Aby T Varkey & Shri Amarjit Singhthe Dcit, Cc -6(4), Vs. Shri Rajiv Rattan Room No. 1925, 19 Th Floor, 60, 2 Nd Floor, Vasant Marg, Air India Building, Vasant Vihar, Nariman Point, New Delhi - 110057 Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aespr3957D Appellant .. Respondent C.O. No. 126/Mum/2022 (A.Y.2011-12) Shri Rajiv Rattan Vs. The Dcit, Cc -6(4), 60, 2 Nd Floor, Vasant Marg, Room No. 1925, 19 Th Floor, Vasant Vihar, Air India Building, New Delhi - 110057 Nariman Point, Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aespr3957D Appellant .. Respondent Appellant By : Smt. Riddhi Mishra Respondent By : Meet Shah

capital gain, loan peak and miscellaneous income etc, and disclosure of additional income has been made from the data of unaccounted cash transaction of the Indiabulls Group of companies found in the form of excel files in the email id chinta.chat@yahoo.co.in maintained by Shri Ashok Sharma CEO of the Group. The ld. Counsel contended that on the basis

DCIT CEN CIR 1(2), MUMBAI vs. SEARS CONSTRUCTION P.LTD, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2012-13 Dcit, M/S. Sears Construction Central Circle-1(2), बनाम/ Pvt. Ltd. Room No.906, Pratishtha 514, Dalamal Towers, Vs. Bhavan, 10Th Floor, Old 211, Nariman Point, Cgo Building Annexe, Mumbai-400020 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacs5289E

gains received from carrying on business and once it is not capable of being treated as business income, it has necessarily to be treated as income received from other sources, and taxed accordingly.” Hence, in my view, the nature of interest income should be determined on the basis of facts and circumstances prevailing in each case. 8. In the instant

ADDL CIT 2(1), MUMBAI vs. GTL LTD, MUMBAI

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

gains of such eligible business for the purpose of the deduction under this section, take the amount of profits as may be reasonably deemed to have been derived therefrom”: 6. Lastly, he submits that the A.O. has justified in restricting the deduction to a particular amount, so he made a request to set-aside the order passed by the Tribunal