KAMAT HOTELS (INDIA) LIMITED,VILE PARLE MUMBAI vs. ACIT, MUMBAI MAHARASHTRA

Bench: SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

demonetization remains to be property examined as a whole and proper verification and justification for the source of such cash deposits for the aforesaid period. 6. The appellant craves the leave to add, amend, alter and/or delete any of the grounds of appeal as above.” 5. The Assessee, a public listed limited company, filed return of income on 31/10/2017 declaring

HIMMATLAL KANHAIYALAL JAIN,MUMBAI vs. PCIT, MUMBAI-41, MUMBAI

In the result, appeal filed by the Assessee stands allowed

Bench: Shri Narender Kumar Choudhryshri Prabhash Shankarassessment Year: 2017-18

demonetization period is sourced out of cash sales and such sales had been credited in assessee's audited P & L account and corresponding income thereon had been offered to tax. The assessee submits that once the sales had been credited in audited P & L account and income thereon had been offered to tax in the return of income, then

THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

demonetization period. 2.1 On the facts and circumstances of the case and in law, the Ld. AO erred in passing the final assessment order u/s 143(3) r/w 144C of the Act, without giving effect to the binding directions of the Ld. DRP wherein the DRP had directed the Ld AO to verify the cash deposits and restrict the additions

MOUNT MARY NAGARI CO OP CREDIT SOCIETY LIMITED ,MUMBAI vs. INCOME TAX OFFICER WARD 23(2)(3), MUMBAI, MUMBAI

In the result, the appeal preferred by the assessee is allowed for\nstatistical purposes

demonetization period to the tune of Rs.11,36,500/- with\nIDBI Bank and Rs.16,80,000/- with Saraswat Cooperative Bank. The\nassessee did not file any return of income and notice under Section\n142(1) of the Act for filing of return for the year under consideration was\nissued to the asessee on 12.12.2017 through ITBA, in response whereof\nreturn

JET FREIGHT LOGISTICS LTD,MUMBAI vs. COMM OF INCOME TAX, MUMBAI

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

Bench: Us. We Find That The Order Is Passed By The Ld. Cit(A) During The Covid Pandemic Period & Accordingly, In View Of The Relaxation Granted By The Hon’Ble Supreme Court, We Are Inclined To Condone The Delay Of 85 Days In Filing Of Appeal By The Assessee. Accordingly, The Appeal Of The Assessee Is Admitted For Adjudication.

demonetization period commencing from 09/11/2016 to 31/12/2016. This had mandated the assessee to make frequent cash deposits less than Rs.5,00,000/- during the period 09/11/2016 to 31/12/2016. Accordingly, we hold that the entire cash deposits made by the assessee during the period 09/11/2016 to 31/12/2016 in Specified Bank Notes in the sum of Rs.2,48,87,000 stood properly

DY. COMMISSIONER OF INCOME TAX(CC)-8(3), MUMBAI vs. ORRA FINE JEWELLERY PRIVATE LIMITED, MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2017-18

depreciations aggregating to Rs. 1,76,33,263/-. From perusal of the submissions made by the assessee, ld. Assessing Officer noted that assessee has deposited cash during the demonetisation period, out of which Rs.3,09,91,233/- were shown as advance received from customers in cash. To clarify this, assessee furnished the information relating to the following: i. Business operations

BHUMIKATRANSPORT JV BNRA,THANE vs. ASSISTANT COMMISIONER OF INCOME CIRCLE 19(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Singh Karhail & Smt. Renu Jauhribhumika Transport Jv V/S. Acit, Circle 19(1) बनाम Bnra 203, 2Nd Floor, Matru House No. 610/C Wing, Mandir, Tardeo Road, Flat No. 604, 6Th Floor, Mumbai-400007 Siddhivinayal Complex, Phase Ii, Temghar, Kalyan, Thane-421302 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabab5560A Appellant/अपीलार्थी .. Respondent/प्रतिवादी

demonetization period in its bank account due to which a notice u/s 141(1) was issued on 28.08.2019 requiring it to explain the source and nature of all the cash deposits. The assessment was finalized u/s 144 after making the following additions: a. Rs. 22,90,000/- cash deposits in the bank account