SWARAN NADHAN SALARIA,MUMBAI vs. DICT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 153A of the Act, the AO did not make any separate additions did not make any separate additions, but issued did not make any separate additions eedings u/s 271(1)(c) of the Act for furnishing the penalty proceedings u/s 271(1)(c) of the Act eedings u/s 271(1)(c) of the Act inaccurate particulars of the income

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 153A of the Act, the AO did not make any separate additions did not make any separate additions, but issued did not make any separate additions eedings u/s 271(1)(c) of the Act for furnishing the penalty proceedings u/s 271(1)(c) of the Act eedings u/s 271(1)(c) of the Act inaccurate particulars of the income

AMIT CAPITAL & SECURITIES P.LTD,MUMBAI vs. ITO 2(1)(1), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year 2006-07 Amit Capital & Securities Income Tax Officer Private Limited, Range-2(1)(1), बनाम/ 47A, 3Rd Floor, Plot No.308, Aayakar Bhavan, Vs. Hanuman Building, Perin M. K. Road, Nariman Street, Fort, Mumbai-400020 Mumbai-400001 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaaca4219Q "नधा"रती क" ओर से / Assessee By Shri Govind Jhaveri Shri Satishchandra Rajore-Dr राज"व क" ओर से / Revenue By 04/10/2018 सुनवाई क" तार"ख / Date Of Hearing : घोषणा क" तार"ख/Date Of Pronouncement 09/10/2018

Section 271(1)(c) of the Act? 3. The respondent assessee had claimed depreciation in respect of the assets acquired

ACIT. CIR.-9(3), MUMBAI vs. M/S VASPARR FISCHER LTD. (NOW M/S. PRESIDENT CONTAINERS LTD.), MUMBAI

In the result, the assessee’s appeals for assessment years 1996-97

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

section 271(1)(c). The appellant pray that levy of penalty u/s 271(1)(c) on depreciation of Rs.1,59,80,750/- should

PRECISION CONTANEURS LTD (FORMERLY KNOWN AS VASPARR FISCHE LTD ),MUMBAI vs. ASST CIT CIR 9(3), MUMBAI

In the result, the assessee’s appeals for assessment years 1996-97

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

section 271(1)(c). The appellant pray that levy of penalty u/s 271(1)(c) on depreciation of Rs.1,59,80,750/- should

PRECISION CONTANEURS LTD (FORMERLY KNOWN AS VASPARR FISCHE LTD ),MUMBAI vs. ASST CIT CIR 9(3), MUMBAI

In the result, the assessee’s appeals for assessment years 1996-97

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

section 271(1)(c). The appellant pray that levy of penalty u/s 271(1)(c) on depreciation of Rs.1,59,80,750/- should

SAI SAMARTH ENTERPRISES,MUMBAI vs. DCIT , CC- 1 , THANE

In the result, the appeals filed by the assessee are hereby allowed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 3718/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No. 3720/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2011-12) & आयकर अपील सं/ I.T.A. No. 3721/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) बिधम/ M/S. Sai Samarth Enterprises Dcit-Central Circle-1, 107, Patel Building, Parel, Thane. Vs. Mumbai. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abufs9008B (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Suchek Anchaliya Revenue By: Shri T. S. Khalsa (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 04/03/2021 घोषणा की तारीख /Date Of Pronouncement: 24/05/2021 आदेश / O R D E R Per Amarjit Singh, (Jm): The Assessee Has Filed The Above Mentioned Appeals Against The Order Dated 29.03.2018 Passed By The Commissioner Of Income Tax (Appeals)- 11, Pune [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Ys. 2010-11, 2011-12, 2012-13 In Which The Penalty Levied By The Ao Has Been Ordered To Be Confirmed.

Section 271(1)(c), would require the A.O. to prove that specifically there was some conduct on part of the assessee which would show that the assessee consciously intended to hide his income. ITA. Nos.3718, 3720 & 3721/Mum/2018 A.Y. 2012-13, 2011-12 & 2010-11 17. In this case, the A.O. in his order noted that the disclosure of higher income

CAPRICON REALTY LTD.,MUMBAI vs. ACIT CIR 2(1), MUMBAI

In the result, appeal of assessee is allowed

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 5724/Mum/2013 (नििाारण वर्ा / Assessment Year : 2005-06)

section 271(1)(c) in this case. Accordingly we set aside the order of CIT(A) and delete the penalty levied.” 7. Following the aforesaid precedent, which has been rendered under identical circumstances, we set-aside the order of CIT(A) and direct the Assessing Officer to delete the penalty imposed u/s 271(1

ELENJICKAMALIL V. THOMAS,NAVI MUMBAI vs. DCIT 22(3), MUMBAI

In the result, appeal of the assessee in ITA no

Bench: Shri Mahavir Singh & Shri Ramit Kocharआमकय अऩीर सं/.I.T.A. No.2647/Mum/2017 (नििाारण वषा / Assessment Year : (2009-10) बिाम / Elenjickamalil V. Thomas Dcit 22(3) 212, Vardhaman Chambers, Mumbai Sector-17, Vashi, V. Navi Mumbai – 400 703 स्थामी रेखा सं/.Pan: Aacpe7339L (अऩीराथी / Appellant) (प्रत्मथी / Respondent) ..

section 271(1)(C) of the Income Tax Act 1961, are insufficient and contrary to the facts and evidence on record. 3. The Appellant craves leave to add, amend, alter, modify or omit any of the aforesaid grounds of appeal as occasion may arise or demand.” 3. The brief facts of the case are that the assessee is proprietor

GENERAL ELECTRIC INTERNATIONAL INC.,GURGAON vs. DCIT, INTERNATIONAL TAXATION CIRCLE 2(3)(2), MUMBAI

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

section 271(1)(c). That is clearly not the intendment of the Legislature. 9. The sum and substance of assessee's case is that assessee had neither concealed any income nor furnished any incorrect particulars of such income. Admittedly, assessee had shown correct sale consideration of the property and also shown correct cause of depreciation

DCIT, CENTRAL CIRCLE - 7(1), MUMBAI , MUMBAI vs. TRIUMPH SECURITIES LTD, MUMBAI

In the result, the appeal of the revenue bearing ITA No

section 271(1)(c) in the\nassessment order, which was duly served on the assessee making it aware of the\ncharges of penalty.\n3. On the facts and in the circumstances of the case and in law, the Ld. CIT(A)\nerred in deleting the penalty u/s 271(1)(c) on the ground that the charge was not\nspecified

ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-3(4), MUMBAI, MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

Accordingly.\n7. To sum-up, these Revenue's twin appeals ITA.Nos.1875 & 1872/Mum./2024 and assessee's cross objections C.O.Nos.88 & 89/MUM./2024 are dismissed in above terms

depreciation on steel purchase. Therefore, penalty proceedings u/s.271(1)(c) on the issue was rightly initiated.\nThe AO referred to the provisions of section 271

THERMO FISHER SCIENTIFIC INDIA PVT LTD. ,MUMBAI vs. DCIT-15(3)(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2009-10 Thermo Fisher Scientific India Dy. Cit-15(3)(1), Pvt. Ltd., Room No. 360, Aayakar Vs. 403-404, ‘B’ Wing, Delphi, Bhavan, New Marine Lines, Hiranandani Business Park, Mumbai-400020. Mumbai-400076. Pan No. Aabct 3207 A Appellant Respondent

section 271(1)(c) of the IT Act. 271(1)(c) of the IT Act. 2. Briefly stated facts of the case are that Briefly stated facts of the case are that the assessee i.e. M/s the assessee i.e. M/s Thermo Fisher Scientific India Private Limited (previously "Thermo Thermo Fisher Scientific India Private Limited (previously "Thermo Thermo Fisher Scientific India

DCIT 8(1), MUMBAI vs. CASTROL INDIA LTD, MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Ramit Kochar

section 271(1)(c) of the Income Tax Act, 1961 (for short "the Act") on the addition made on account of disallowance of depreciation

DCIT - (LTU) - 1 , MUMBAI vs. RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the appeals filed by the Revenue and Cross Objections filed by the assessee are dismissed

Bench: Shri G. Manjunatha & Shri Ravish Sood

section 271(1)(c) cannot be levied. Reliance is placed in the following decisions - • CIT vs SSA's Emerald Meadows (SC). ITA No 380 of 2015 • CIT vs Samson Perinchery (SLP)(392 ITR 4) (BOM) • CIT vs Manjunatha Cotton & Ginning Factory (359 ITR 565) (Kar) p) The final penalty is imposed by invoking Explanation 1 for furnishing inaccurate particulars

SHORELINE HOTEL P. LTD.,MUMBAI vs. DY CIT CC-1(2), MUMBAI

In the result, appeal is allowed

Bench: Shri G. S. Pannu, Hon’Ble & Shri Saktijit Dey, Hon’Bleassessment Year: 2008-09 Shoreline Hotel Pvt. Ltd., Dcit, Central Circle- 1(2), 29 Dar-Ul.Habib, Marine Drive, Old Cgo Building, 9Th Floor, Churchgate, Churchgate, Mumbai - 400020 Vs. Mumbai - 400020 Pan: Aabcs1380B (Appellant) (Respondent) Assessee By : Shri Vijay Mehta (Ar) Revenue By : Shri Rajneesh Yadav (Dr) Date Of Hearing : 21/10/2021 Date Of Pronouncement: 16/12/2021

depreciation to the extent of Rs. 1,31,417/-. Thus, the total disallowance sustained by learned Commissioner (Appeals) was to the tune of Rs. 21,30,322/-. Based on the disallowance sustained by learned Commissioner (Appeals), the AO initiated proceeding for imposition of penalty under section 271

M/S FLEMMINGO TRAVEL RETAIL LTD.(FORMERLY KNOWN AS DFS INDIA P. LTD.),MUMBAI vs. DCIT - 9 (3) (2), MUMBAI

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri G. Manjunatha & Shri Ravish Soodm/S Flemingo Travel Retail Dcit –9(3)(2) Room No. 418, 4Th Floor, Limited (Formerly Known As Dfs India Pvt. Ltd.), Chhatrapati Shivaji Aayakar Bhavan, M.K. Road, International Airport, New Vs. Mumbai 400020 Terminal 2, Csi Airport, Sahar, Mumbai. Pan – Aaccd7412N (Appellant) (Respondent)

section 271(1)(c) of the Act when a bonafide and genuine claim of the appellant company for allowing the revenue expense on account of interest paid on compulsory convertible debentures of Rs.23,55,545/- and bid development cost of Rs.6,24,76,800/- was not accepted but the appellant was allowed to capitalize the same to respective asset

BERMACO INDUSTRIES LIMITED,MUMBAI vs. ACIT, CC-8(4), MUMBAI

In the result, the appeal of assessee stands allowed in terms of our above order

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am Bermaco Industries Limited The Asst. Commissioner D-73/1, Ttc Industries Area, Of Income Tax Midc, Turbhe Central Circle-8(4), Vs. Navi Mumbai-400 705 Mumbai

Section 153A vide order dated 30.12.2011 determining total income at Rs.27,98,24,090/- after addition of Rs.27,80,33,410/- towards bogus purchases and disallowance of depreciation of Rs. 95,807/-. Penalty u/s 271(1