SWD INDUSTRIES,MUMBAI vs. PCIT (CENTRAL), MUMBAI-1, MUMBAI

In the result, all the appeals filed by the assessee for the respective assessment years are allowed, and the impugned orders passed by the learned PCIT under section 263 of the Act are set aside

Bench: Shri Saktijit Dey & Shri Makarand Vasant Mahadeokar1. Ita No. 9007/Mum/2025 (Assessment Year: 2014-15) 2. Ita No. 9008/Mum/2025 (Assessment Year: 2015-16) 3. Ita No. 9009/Mum/2025 (Assessment Year: 2016-17) 4. Ita No. 9010/Mum/2025 (Assessment Year: 2017-18) 5. Ita No. 9011/Mum/2025 (Assessment Year: 2019-20) & 6. Ita No. 9012/Mum/2025 (Assessment Year: 2020-21) Swd Industries, Pcit (Central), 1402, South Tower 25, Mumbai-1, South Prabhadevi, Vs. R. No. 1001, 10Th Mumbai-400 025 Floor, Pratistha Bhavan, Old Cgo Annexe, Maharshi Karve Road, Mumbai-400 020 Pan/Gir No. Aaofs8319L (Applicant) (Respondent) Assessee By Shri Salil Kapoor A/W Shri Sumit Lalchandani, Shri Shivam Yadav, Shri Shri Vinod Gupta, Ld. Ars Revenue By Shri Vivek Perampurna, Ld. Dr Date Of Hearing 10.03.2026 Date Of Pronouncement 12.03.2026

disallowance of interest expenditure claimed by the assessee, while in other years the returned income was accepted. The assessments so framed were passed by the Assessing Officer after obtaining the mandatory approval under section 153D

SWD INDUSTRIES,MUMBAI vs. PCIT (CENTRAL), MUMBAI-1, MUMBAI

In the result, all the appeals filed by the assessee for the respective assessment years are allowed, and the impugned orders passed by the learned PCIT under section 263 of the Act are set aside

Bench: Shri Saktijit Dey & Shri Makarand Vasant Mahadeokar1. Ita No. 9007/Mum/2025 (Assessment Year: 2014-15) 2. Ita No. 9008/Mum/2025 (Assessment Year: 2015-16) 3. Ita No. 9009/Mum/2025 (Assessment Year: 2016-17) 4. Ita No. 9010/Mum/2025 (Assessment Year: 2017-18) 5. Ita No. 9011/Mum/2025 (Assessment Year: 2019-20) & 6. Ita No. 9012/Mum/2025 (Assessment Year: 2020-21) Swd Industries, Pcit (Central), 1402, South Tower 25, Mumbai-1, South Prabhadevi, Vs. R. No. 1001, 10Th Mumbai-400 025 Floor, Pratistha Bhavan, Old Cgo Annexe, Maharshi Karve Road, Mumbai-400 020 Pan/Gir No. Aaofs8319L (Applicant) (Respondent) Assessee By Shri Salil Kapoor A/W Shri Sumit Lalchandani, Shri Shivam Yadav, Shri Shri Vinod Gupta, Ld. Ars Revenue By Shri Vivek Perampurna, Ld. Dr Date Of Hearing 10.03.2026 Date Of Pronouncement 12.03.2026

disallowance of interest expenditure claimed by the assessee, while in other years the returned income was accepted. The assessments so framed were passed by the Assessing Officer after obtaining the mandatory approval under section 153D

SWD INDUSTRIES,MUMBAI vs. PCIT (CENTRAL), MUMBAI-1, MUMBAI

In the result, all the appeals filed by the assessee for the respective assessment years are allowed, and the impugned orders passed by the learned PCIT under section 263 of the Act are set aside

Bench: Shri Saktijit Dey & Shri Makarand Vasant Mahadeokar1. Ita No. 9007/Mum/2025 (Assessment Year: 2014-15) 2. Ita No. 9008/Mum/2025 (Assessment Year: 2015-16) 3. Ita No. 9009/Mum/2025 (Assessment Year: 2016-17) 4. Ita No. 9010/Mum/2025 (Assessment Year: 2017-18) 5. Ita No. 9011/Mum/2025 (Assessment Year: 2019-20) & 6. Ita No. 9012/Mum/2025 (Assessment Year: 2020-21) Swd Industries, Pcit (Central), 1402, South Tower 25, Mumbai-1, South Prabhadevi, Vs. R. No. 1001, 10Th Mumbai-400 025 Floor, Pratistha Bhavan, Old Cgo Annexe, Maharshi Karve Road, Mumbai-400 020 Pan/Gir No. Aaofs8319L (Applicant) (Respondent) Assessee By Shri Salil Kapoor A/W Shri Sumit Lalchandani, Shri Shivam Yadav, Shri Shri Vinod Gupta, Ld. Ars Revenue By Shri Vivek Perampurna, Ld. Dr Date Of Hearing 10.03.2026 Date Of Pronouncement 12.03.2026

disallowance of interest expenditure claimed by the assessee, while in other years the returned income was accepted. The assessments so framed were passed by the Assessing Officer after obtaining the mandatory approval under section 153D

SWD INDUSTRIES,MUMBAI vs. PCIT (CENTRAL), MUMBAI-1, MUMBAI

In the result, all the appeals filed by the assessee for the respective assessment years are allowed, and the impugned orders passed by the learned PCIT under section 263 of the Act are set aside

Bench: Shri Saktijit Dey & Shri Makarand Vasant Mahadeokar1. Ita No. 9007/Mum/2025 (Assessment Year: 2014-15) 2. Ita No. 9008/Mum/2025 (Assessment Year: 2015-16) 3. Ita No. 9009/Mum/2025 (Assessment Year: 2016-17) 4. Ita No. 9010/Mum/2025 (Assessment Year: 2017-18) 5. Ita No. 9011/Mum/2025 (Assessment Year: 2019-20) & 6. Ita No. 9012/Mum/2025 (Assessment Year: 2020-21) Swd Industries, Pcit (Central), 1402, South Tower 25, Mumbai-1, South Prabhadevi, Vs. R. No. 1001, 10Th Mumbai-400 025 Floor, Pratistha Bhavan, Old Cgo Annexe, Maharshi Karve Road, Mumbai-400 020 Pan/Gir No. Aaofs8319L (Applicant) (Respondent) Assessee By Shri Salil Kapoor A/W Shri Sumit Lalchandani, Shri Shivam Yadav, Shri Shri Vinod Gupta, Ld. Ars Revenue By Shri Vivek Perampurna, Ld. Dr Date Of Hearing 10.03.2026 Date Of Pronouncement 12.03.2026

disallowance of interest expenditure claimed by the assessee, while in other years the returned income was accepted. The assessments so framed were passed by the Assessing Officer after obtaining the mandatory approval under section 153D

SWD INDUSTRIES,MUMBAI vs. PCIT (CENTRAL), MUMBAI-1, MUMBAI

In the result, all the appeals filed by the assessee for the respective assessment years are allowed, and the impugned orders passed by the learned PCIT under section 263 of the Act are set aside

Bench: Shri Saktijit Dey & Shri Makarand Vasant Mahadeokar1. Ita No. 9007/Mum/2025 (Assessment Year: 2014-15) 2. Ita No. 9008/Mum/2025 (Assessment Year: 2015-16) 3. Ita No. 9009/Mum/2025 (Assessment Year: 2016-17) 4. Ita No. 9010/Mum/2025 (Assessment Year: 2017-18) 5. Ita No. 9011/Mum/2025 (Assessment Year: 2019-20) & 6. Ita No. 9012/Mum/2025 (Assessment Year: 2020-21) Swd Industries, Pcit (Central), 1402, South Tower 25, Mumbai-1, South Prabhadevi, Vs. R. No. 1001, 10Th Mumbai-400 025 Floor, Pratistha Bhavan, Old Cgo Annexe, Maharshi Karve Road, Mumbai-400 020 Pan/Gir No. Aaofs8319L (Applicant) (Respondent) Assessee By Shri Salil Kapoor A/W Shri Sumit Lalchandani, Shri Shivam Yadav, Shri Shri Vinod Gupta, Ld. Ars Revenue By Shri Vivek Perampurna, Ld. Dr Date Of Hearing 10.03.2026 Date Of Pronouncement 12.03.2026

disallowance of interest expenditure claimed by the assessee, while in other years the returned income was accepted. The assessments so framed were passed by the Assessing Officer after obtaining the mandatory approval under section 153D

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI MUMBAI MUMB, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

ASSTT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI vs. HELIOS MERCANTILE LIMITED, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

ACIT (CC)-8(2) , MUMBAI vs. HELIOS EXPORTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

SHRIVALLABH PITTIE INDUSTRIES LTD ,MUMBAI. vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI vs. M/S CITRON INFRAPROJECTS LTD , MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

SVP SOUTH WEST INDUSTRIES LTD. (FORMERLY, PLATINUM TEXTILE LTD.),MUMBAI vs. DCIT, CC- 8(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

HELLIOS EXPORTS LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

CITRON INFRAPROJECT LTD.,,MUMBAI-400005 vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI-20

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI vs. M/S CITRON INFRAPROJECTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

CITRON INFRAPROJECT LTD.,,MUMBAI-400005 vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI-400020

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

SVP SOUTH WEST INDUSTRIES LTD. (FORMERLY, PLATINUM TEXTILE LTD.),MUMBAI-400005 vs. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

ACIT (CC)-8(2) , MUMBAI vs. HELIOS EXPORTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2)., MUMBAI vs. M/S CITRON INFRAPROJECTS LTD , MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

153D of the act. Thus, this ground was dismissed. The assessee also contested that the assessment order has been passed without issuance of notice under section 143 (2) of the act within the prescribed time limit. The learned CIT – A after considering the explanation of the assessee decided this issue as per paragraph number 6 of the order holding that