DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 133A of the Act, recorded on oath, during the survey proceedings, ignoring the ratio laid down by the Apex Court in the cases of CIT v. S. Khader Khan Son (2012) 254 CTR 228? 23. This question was answered by the Hon’ble High Court by observing as under:- “4. We shall now consider the questions as proposed

MANTOR CAPITAL LTD,MUMBAI vs. ASST CIT CEN CIR 22, MUMBAI

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

133A and a confession statement has, no doubt been taken admitting income of Rs.11.45 Crores towards Share Capital receipts. However, the confession statement alone cannot be the basis and the Assessing Officer should have gathered enough materials to substantiate that the subscribers are not genuine or the money received are not properly explained. In the case of the assesse, during

MENTOR CAPITAL LTD,MUMBAI vs. DCIT CEN CIR 22, MUMBAI

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

133A and a confession statement has, no doubt been taken admitting income of Rs.11.45 Crores towards Share Capital receipts. However, the confession statement alone cannot be the basis and the Assessing Officer should have gathered enough materials to substantiate that the subscribers are not genuine or the money received are not properly explained. In the case of the assesse, during

MANTOR CAPITAL LTD,MUMBAI vs. ASST CIT CEN CIR 22, MUMBAI

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

133A and a confession statement has, no doubt been taken admitting income of Rs.11.45 Crores towards Share Capital receipts. However, the confession statement alone cannot be the basis and the Assessing Officer should have gathered enough materials to substantiate that the subscribers are not genuine or the money received are not properly explained. In the case of the assesse, during

MANTOR CAPITAL LTD,MUMBAI vs. ASST CIT CEN CIR 22, MUMBAI

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

133A and a confession statement has, no doubt been taken admitting income of Rs.11.45 Crores towards Share Capital receipts. However, the confession statement alone cannot be the basis and the Assessing Officer should have gathered enough materials to substantiate that the subscribers are not genuine or the money received are not properly explained. In the case of the assesse, during

ACIT CC 3(3) CEN RG 3, MUMBAI vs. MENTOR CAPITAL LTD, MUMBAI

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

133A and a confession statement has, no doubt been taken admitting income of Rs.11.45 Crores towards Share Capital receipts. However, the confession statement alone cannot be the basis and the Assessing Officer should have gathered enough materials to substantiate that the subscribers are not genuine or the money received are not properly explained. In the case of the assesse, during

LEGAL HEIRS OF LATE SHREEVALLABH DAMANI,MUMBAI vs. ACIT CEN CIR 11, MUMBAI

In the result, the appeals are allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

133A of the I T Act. Therefore, any material or evidence found/collected in a survey which has been simultaneously made at premises of a connected person can be utilized while making the Block Assessment in respect of an assessee under section 158BB read with section 158BH of the IT Act. The same would fall under the words ‘and such other

LEGAL HEIRS OF LATE SHREEVALLABH DAMANI,MUMBAI vs. ACIT CEN CIR 11, MUMBAI

In the result, the appeals are allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

133A of the I T Act. Therefore, any material or evidence found/collected in a survey which has been simultaneously made at premises of a connected person can be utilized while making the Block Assessment in respect of an assessee under section 158BB read with section 158BH of the IT Act. The same would fall under the words ‘and such other

LEGAL HEIRS OF LATE SHREEVALLABH DAMANI,MUMBAI vs. ACIT CEN CIR 11, MUMBAI

In the result, the appeals are allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

133A of the I T Act. Therefore, any material or evidence found/collected in a survey which has been simultaneously made at premises of a connected person can be utilized while making the Block Assessment in respect of an assessee under section 158BB read with section 158BH of the IT Act. The same would fall under the words ‘and such other

LEGAL HEIRS OF LATE SHREEVALLABH DAMANI,MUMBAI vs. ACIT CEN CIR 11, MUMBAI

In the result, the appeals are allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

133A of the I T Act. Therefore, any material or evidence found/collected in a survey which has been simultaneously made at premises of a connected person can be utilized while making the Block Assessment in respect of an assessee under section 158BB read with section 158BH of the IT Act. The same would fall under the words ‘and such other

B. NARAYAN & ASSOCIATES,THANE vs. ITO WD 1(3), THANE

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

Bench: Shri Aby T Varkey, Jm & Ms Padmavathy S, Am

section 131 of the Income Tax Act, 1961 (the Act) were recorded from Shri Narayan Das Bhatia, partner and Ms. Isha Majalkar, Accountant of the assessee. The AO further noticed that the Accountant while answering one of the questions raised with regard to certain noting made by the Accountant had replied stating that the profits of the assessee

MISTRY CONSTRUCTION CO. PVT. LTD,MUMBAI vs. ACIT CEN CIR 41, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am

depreciation.” 6. Brief facts are that the assessee is a civil contractor specialized in earth moving and mining works and undertake these types of assignments. This activity is being carried out by the assessee for many years. A survey under section 133A

M/S ASHTECH (INDIA) PRIVATE LIMITED,MUMBAI CITY vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(4), MUMBAI

The appeal of the Revenue is dismissed

133A", "Section 143(3)", "Section 147", "Section 148", "Section 133(6)", "Section 131", "Section 68"], "issues": "The core issues revolved around the genuineness of expenses, particularly for fuel/diesel and tyre purchases, and the addition of share application money. The disputes also included unsubstantiated expenses and disallowance of depreciation

MANISHA NITIN BRAHMBHATT ,MUMBAI vs. ITO WARD 24(2)(1), MUMBAI

In the result, appeal of the assessee is allowed

133A(5) of the Act,\nInformation which requires action in consequence of the\njudgement of the Hon'ble Supreme Court in the case Union of\nIndia Vs. Ashish Agarwal, Civil Appeal 3005/2022, dated 4th\nMay, 2022\nsuggesting that income chargeable to tax has escaped assessment with\nin the meaning of section 147 of the Act. Order under sub-section

DEWANCHAND RAMSARAN INDUSTRIES P.LTD,MUMBAI vs. DCIT CIR 6(2), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Dewanchand Ramsaran Dy. Commissioner Of Income Tax, Industries P. Ltd. Mumbai, 7/8 B Trade World, Kamla City, Circle 6(2) Vs. Senapati Bapat Marg, Lower Mumbai Parel, Mumbai- 400 013 Pan No. Aabcd7193H .. Appellant Respondent Assessee By .. Miss Arti Sathe, Ar .. Shri B. S. Bist, Dr Revenue By Date Of Hearing .. 05-04-2017 .. Date Of Pronouncement 05-04-2017 O R D E R Per Mahavir Singh, Jm:

depreciation of Rs. 11,11,82,315/- of AY 2008-09 from the total income of Rs. 10,59,990,850/- and revise the total income at nil and book profit was accepted at Rs. 21,36,48,817/- under section 115JB of the Act. 4. In view of the above facts now, the assessee stated that

ADITYA MARINE LTD,MUMBAI vs. DCIT 5(1), MUMBAI

In the result appeal of the assessee is partly allowed that of the revenue stands dismissed

Bench: Shri B R Baskaran & Shri Amit Shukla

section 133A was carried out on 27th December, 2012 at the Branch office situated at Gandhidham, Gujarat. All the books of accounts were found to be maintained in the computerized Tally system and the books of account were found to be full and complete and written till the date of survey which were verified by the authorized officer

DCIT 14(1)(1), MUMBAI vs. ADITYA MARINE LID, MUMBAI

In the result appeal of the assessee is partly allowed that of the revenue stands dismissed

Bench: Shri B R Baskaran & Shri Amit Shukla

section 133A was carried out on 27th December, 2012 at the Branch office situated at Gandhidham, Gujarat. All the books of accounts were found to be maintained in the computerized Tally system and the books of account were found to be full and complete and written till the date of survey which were verified by the authorized officer

ROYAL CHAINS PRIVATE LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 3(3), MUMBAI

In the result, appeal filed by the assessee stands partly allowed\nand appeal filed by the revenue stands dismissed

depreciation of Rs.23,13,135/-.\n2. 3. The Ld.AO further observed that there was unaccounted stock\nof 22KT and 18KT gold based on survey conducted at the premises\nof the assessee u/s 133A dated 07/09/2018 by the DDIT,\nInvestigation Wing, Mumbai. Based on the statements recorded,\nThe Ld.AO came to the conclusion that the stock of 7000 grams of\n24KT