ARSHIYA LIMITED,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, MUMBAI

In the result, the appeal is partly allowed

Bench: Sri Saktijit Dey, Jm & Sri G. Manjunatha, Am आयकर अपील सुं./ Ita No. 7177 & 7178/Mum/2018 (यनर्ाारण वर्ा / Assessment Year 2008-09 & 2010–11) M/S Arshiya Limited, The Asst. Commissioner Of 302, Level–3, Ceejay House, Income, Circle-21(2)(5) F–Block, Shiv Sagar Estate,Dr. Room No. 116, 1 St Floor, बनाम/ Annie Besant Road, Worli, Piramal Chambers, Vs. Mumbai-400 018 Mumbai-400 012 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaaci2679A अपीलाथी की ओर से / Appellant By : Shri Navnit Choudhary, Ar प्रत्यथी की ओर से / Respondent By : Shri Michael Jerald, Dr सुनवाई की िारीख / Date Of Hearing: 11.02.2020 घोर्णा की िारीख / Date Of Pronouncement: 20.03.2020 आदेश / O R D E R शक्तिजीि डे, न्याययक सदस्य/ Per Saktijit Dey, Jm:

Disallowance under section 69C of `4,40,351/- (iii) disallowance under section 68 of `10,01,50,000/- (iv) addition

PURNA PURSHOTTAM EXPORTS ,MUMBAI vs. INCOME TAX OFFICER 32(2)(5), MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2007-08 Purna Pushottam Exports, Ito-32(3)(5), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent Assessment Year: 2018-19 Purna Pushottam Exports, Acit Central Circle, 2(2), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent

section 69C are not applicable as source of expenditure incurred is explained by Appellant along with incurred is explained by Appellant along with necessary supporting documents. supporting documents. 5. 5. The Ld. CIT( 5. The Ld. CIT(A) failed to appreciate that the A.O. has relied A) failed to appreciate that the A.O. has relied on the statements

PURNA PURSHOTTAM EXPORTS ,MUMBAI vs. ACIT CENTRAL CIRCLE,2(2), MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2007-08 Purna Pushottam Exports, Ito-32(3)(5), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent Assessment Year: 2018-19 Purna Pushottam Exports, Acit Central Circle, 2(2), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent

section 69C are not applicable as source of expenditure incurred is explained by Appellant along with incurred is explained by Appellant along with necessary supporting documents. supporting documents. 5. 5. The Ld. CIT( 5. The Ld. CIT(A) failed to appreciate that the A.O. has relied A) failed to appreciate that the A.O. has relied on the statements

RAMESH S SHAH,MUMBAI vs. THE DY CIT, CC-5(3), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

disallowance can be made under section 69C of the Act. Before proceeding further it is relevant to note the provisions

RAMESH S. SHAH,MUMBAI vs. THE DY CIT, CCC-5(3), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

disallowance can be made under section 69C of the Act. Before proceeding further it is relevant to note the provisions

M/S. TATA INDUSTRIES LTD,MUMBAI vs. THE ITO 2(3)(3), MUMBAI

In the result, appeal of the assessee is treated as partly allowed

Bench: Shri G. S. Pannu, Accoutant Member & Shri Sanjay Gargtata Industries Ltd., Vs. The Income Tax Officer, Ward- Bombay House,24,Homi 2 (3) (3), Room No.555, Mody Street, Fort, Mumbai Aayakar Bhavan, Maharshi 400 001 Karve Road, Mumbai 400 020 Pan: Aaact 4058 L Appellant .. Respondent Appellant By Shri Dinesh Vyas, Ar Respondent By Shri Alok Johri, Dr Date Of Hearing 22-06-2016 Date Of Pronouncement 20-07-2016

disallowances. The following ratio as per para 12 of Hon’ble Supreme Court order in the case of ACG Associated Capsules Pvt. Ltd. is to be applied. “12. If we now apply Explanation (baa) as interpreted by us in this judgment to the facts of the case before us, if the rent or interest is a receipt chargeable as profits

GNP CONSULTANCY AND SOLUTIONS PRIVATE LIMITED,MUMBAI vs. DCIT, CIRCLE 6 (1), MUMBAI, MUMBAI

Appeal of the revenue is dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

section 143(3) of the Act for AY 2022-23 made the following additions arriving at the assessed income of Rs. 61,00,07,691/- (i) Unaccounted Business receipts - Rs. 22,84,97,381/- (ii) Unexplained Expenditure u/s 69C of the Act - Rs. 4,49,32,144/- (iii) Disallowance

ACIT CC 6(1), MUMBAI, BKC, MUMBAI vs. GNP CUNSULTANCY AND SOLUTIONS PVT. LTD., THANE

Appeal of the revenue is dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

section 143(3) of the Act for AY 2022-23 made the following additions arriving at the assessed income of Rs. 61,00,07,691/- (i) Unaccounted Business receipts - Rs. 22,84,97,381/- (ii) Unexplained Expenditure u/s 69C of the Act - Rs. 4,49,32,144/- (iii) Disallowance

ACIT CC -6(1), MUMBAI, BKC, MUMBAI vs. GNP CONSULTANCY AND SOLUTIONS PVT. LTD., THANE

Appeal of the revenue is dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

section 143(3) of the Act for AY 2022-23 made the following additions arriving at the assessed income of Rs. 61,00,07,691/- (i) Unaccounted Business receipts - Rs. 22,84,97,381/- (ii) Unexplained Expenditure u/s 69C of the Act - Rs. 4,49,32,144/- (iii) Disallowance

GNP CONSULTANCY AND SOLUTIONS PRIVATE LIMITED,NARIMAN POINT, MUMBAI vs. DCIT, CIRCLE 6(1), MUMBAI, MUMBAI

Appeal of the revenue is dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

section 143(3) of the Act for AY 2022-23 made the following additions arriving at the assessed income of Rs. 61,00,07,691/- (i) Unaccounted Business receipts - Rs. 22,84,97,381/- (ii) Unexplained Expenditure u/s 69C of the Act - Rs. 4,49,32,144/- (iii) Disallowance

ACIT CC 6(1), BKC MUMBAI vs. GNP CONSULTANCY AND SOLUTIONS PRIVATE LIMITED, THANE

Appeal of the revenue is dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

section 143(3) of the Act for AY 2022-23 made the following additions arriving at the assessed income of Rs. 61,00,07,691/- (i) Unaccounted Business receipts - Rs. 22,84,97,381/- (ii) Unexplained Expenditure u/s 69C of the Act - Rs. 4,49,32,144/- (iii) Disallowance

TMF HOLDING LTD.,MUMBAI vs. PR. CIT -1, MUMBAI

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bletmf Holdings Ltd., V. Pr.Cit – 1 {Formerly Known As Tata Motors Finance Ltd.,} 3Rd Floor, Room No. 330 10Th Floor, 106 A & B Aayakar Bhavan, M.K. Road Maker Chamber-Iii Mumbai - 400020 Nariman Point, Mumbai Pan: Aacct4644A (Appellant) (Respondent) Shri Nikhil Tiwari Assessee By : Department By : Shri S.N. Kabra

disallowance u/s 14A in respect of fresh investments of Rs.1501,16.95 lakhs in equity shares of wholly owned subsidiary. Further, it is found that the AO passed the impugned assessment order without making inquiries which should have been made and therefore the said order shall also be deemed to be erroneous in so far as it is prejudicial

MS. NABEEL CONSTRUCTIONS PVT. LTD, MIRA ROAD ,THANE vs. PR. CIT THANE -1, THANE

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

disallowance of purchases as unexplained expenditure under section 69C read with section 115BBE and to correspondingly initiate penalty under section

NEMCHAND J GALA,MUMBAI vs. DCIT CC 12, MUMBAI

In the result, all the appeals filed by the assessee and Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 69C, disallowance of interest expenses, disallowance of consultancy expenses, disallowance of deduction claimed under Section 80C/80D, addition on account

NEMCHAND J GALA,MUMBAI vs. DCIT CC 12, MUMBAI

In the result, all the appeals filed by the assessee and Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 69C, disallowance of interest expenses, disallowance of consultancy expenses, disallowance of deduction claimed under Section 80C/80D, addition on account

NEMCHAND J GALA,MUMBAI vs. DCIT CC 12, MUMBAI

In the result, all the appeals filed by the assessee and Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 69C, disallowance of interest expenses, disallowance of consultancy expenses, disallowance of deduction claimed under Section 80C/80D, addition on account

NEMCHAND J GALA,MUMBAI vs. DCIT CC 12, MUMBAI

In the result, all the appeals filed by the assessee and Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 69C, disallowance of interest expenses, disallowance of consultancy expenses, disallowance of deduction claimed under Section 80C/80D, addition on account

NEMCHAND GALA,MUMBAI vs. DCIT CC 12, MUMBAI

In the result, all the appeals filed by the assessee and Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 69C, disallowance of interest expenses, disallowance of consultancy expenses, disallowance of deduction claimed under Section 80C/80D, addition on account