ESSEL MINING & INDUSTRIES LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE 1(4), MUMBAI

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

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2011-12 & Assessment Year: 2012-13 Essel Mining & Industries Ltd., Dy. Cit, Central Circle-1(4), Industry House, 18Th Floor, 10, 9Th Floor, Old Cgo Building, Camac Street, Vs. Mk Road, Kolkata-700017. Mumbai-400020. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 & Assessment Year: 2012-13 Jcit, Central Circle-1(4), M/S Essel Mining & Industries Room No. 902, Pratishtha Ltd., Bhavan, 9Th Floor, Old Cgo Vs. Industry House, 18Th Floor, 10, Building Annexe, Camac Street, Mumbai-400020. Kolkata-700017. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 M/S Essel Mining & Industries Dy. Cit, Central Circle-1(4), Ltd., 9Th Floor, Old Cgo Building, Vs. Industry House, 18Th Floor, 10, Mk Road

b) In other cases, in addition to the income that has already at has already been assessed, the assessment us 153A will be made on the been assessed, the assessment us 153A will be made on the been assessed, the assessment us 153A will be made on the basis of incriminating material, which in the context of basis of incriminating

SUMAN GUPTA,MUMBAI vs. DCIT - CC- 4(2), MUMBAI

In the result, appeal of the assessee for assessment year 2015

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3860 & 3859/Mum/2018 Assessment Years: 2014-15 & 2015-16 Smt. Suman Gupta, Dy. Cit Cc-4(2), 6Th New Harileela House, Air India Building, 19Th Mint Road, Fort, Vs. Floor, Room No. 1918, Mumbai-400 001. Nariman Point, Mumbai-21. Pan No. Ahqpg 0220 P Appellant Respondent Assessee By : Mr. Bhupendra Karkhanis & Mr. Aakash Marthak & Mr. Vijay Bhatt, Ars Revenue By : Dr. Kishor Dhule, Cit-Dr Date Of Hearing : 02/03/2023 : Date Of Pronouncement 27/04/2023 Order

153A, in the light of; (i) the proposition laid down in National Thermal Power the proposition laid down in National Thermal Power the proposition laid down in National Thermal Power Corporation v.CIT 229 ITR 383 (SC); and Corporation v.CIT 229 ITR 383 (SC); and (ii) the principles laid down in Circular No. 14 (XL (ii) the principles laid down

MOHAN GURNANI,NAVI MUMBAI vs. DCIT CENTRAL CIRLE - 5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

153A of the income tax act at ₹ 28,394,060/– for which notice under section 143 (2) was issued on 24/1/2017. During the year a) Assessee was found to be owner of five properties for which no income was offered; therefore, the learned assessing officer estimated an income of ₹ 504,475/– as its income under the head income from property

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

153A of the income tax act at ₹ 28,394,060/– for which notice under section 143 (2) was issued on 24/1/2017. During the year a) Assessee was found to be owner of five properties for which no income was offered; therefore, the learned assessing officer estimated an income of ₹ 504,475/– as its income under the head income from property

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

153A of the income tax act at ₹ 28,394,060/– for which notice under section 143 (2) was issued on 24/1/2017. During the year a) Assessee was found to be owner of five properties for which no income was offered; therefore, the learned assessing officer estimated an income of ₹ 504,475/– as its income under the head income from property

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

153A of the income tax act at ₹ 28,394,060/– for which notice under section 143 (2) was issued on 24/1/2017. During the year a) Assessee was found to be owner of five properties for which no income was offered; therefore, the learned assessing officer estimated an income of ₹ 504,475/– as its income under the head income from property

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

153A of the income tax act at ₹ 28,394,060/– for which notice under section 143 (2) was issued on 24/1/2017. During the year a) Assessee was found to be owner of five properties for which no income was offered; therefore, the learned assessing officer estimated an income of ₹ 504,475/– as its income under the head income from property

MOHAN THANKURDAS GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

153A of the income tax act at ₹ 28,394,060/– for which notice under section 143 (2) was issued on 24/1/2017. During the year a) Assessee was found to be owner of five properties for which no income was offered; therefore, the learned assessing officer estimated an income of ₹ 504,475/– as its income under the head income from property

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

153A of the income tax act at ₹ 28,394,060/– for which notice under section 143 (2) was issued on 24/1/2017. During the year a) Assessee was found to be owner of five properties for which no income was offered; therefore, the learned assessing officer estimated an income of ₹ 504,475/– as its income under the head income from property

M/S.BALAJI BULLION & COMMODITIES (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE-40, MUMBAI

In the result, both the appeals are allowed

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Balaji Bullion & Commodities The Dy. Commissioner Of (India) Private Limited Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002 (Appellant) (Respondent) Pan No. Aadcbo236F Balaji Universal Tradelinks P. The Dy. Commissioner Of Ltd. Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002

Housing Developing Company vs DCIT (ITA No.38/2014) order dated 25/07/2014 from Hon’ble Karnataka High Court, Pr. CIT vs Kurele Paper Mills Pvt. ltd. (ITA No.369 of 20015) order dated 06/07/2015, CIT vs Continental warehousing corporation (Nhava Sheva) Ltd. (2015) 58 taxman.com78(Bom.), All Cargo Global Logistic Ltd. vs DCIT (2012) 23 taxman.com 103(Bom.)(SB), held that no addition

PRIYA MOHAN GURNANAI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

b) of subsection (4) of Section 23 of The Income Tax Act. 016. Accordingly, the total income of the assessee was assessed at ₹ 1,251,425/– against the returned income of ₹ 1,023,860/– making an addition of ₹ 227,625/- under the head income from house property by the assessment order passed u/s 143 (3) read with Section 153A

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

b) of subsection (4) of Section 23 of The Income Tax Act. 016. Accordingly, the total income of the assessee was assessed at ₹ 1,251,425/– against the returned income of ₹ 1,023,860/– making an addition of ₹ 227,625/- under the head income from house property by the assessment order passed u/s 143 (3) read with Section 153A

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. CY CIT-CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

b) of subsection (4) of Section 23 of The Income Tax Act. 016. Accordingly, the total income of the assessee was assessed at ₹ 1,251,425/– against the returned income of ₹ 1,023,860/– making an addition of ₹ 227,625/- under the head income from house property by the assessment order passed u/s 143 (3) read with Section 153A

PRIYA MOHAN GURNANAI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

b) of subsection (4) of Section 23 of The Income Tax Act. 016. Accordingly, the total income of the assessee was assessed at ₹ 1,251,425/– against the returned income of ₹ 1,023,860/– making an addition of ₹ 227,625/- under the head income from house property by the assessment order passed u/s 143 (3) read with Section 153A

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

b) of subsection (4) of Section 23 of The Income Tax Act. 016. Accordingly, the total income of the assessee was assessed at ₹ 1,251,425/– against the returned income of ₹ 1,023,860/– making an addition of ₹ 227,625/- under the head income from house property by the assessment order passed u/s 143 (3) read with Section 153A

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

b) of subsection (4) of Section 23 of The Income Tax Act. 016. Accordingly, the total income of the assessee was assessed at ₹ 1,251,425/– against the returned income of ₹ 1,023,860/– making an addition of ₹ 227,625/- under the head income from house property by the assessment order passed u/s 143 (3) read with Section 153A

THE DY COMM. OF INCOME TAX, CENTRAL CIRCLE-5(1), MUMBAI vs. M/S RPS INFRA PROJECTS PRIVATE LIMITED, MUMBAI

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Baskaran Br & Shri Pavan Kumar Gadalethe Dcit, Vs. M/S Rps Priti Jv, Central Circle 5(1), C-113, Shyamkamal Room No. 1928, 19Th Bldg, 27 Tejpal Road, Floor, Air India Bldg, Agarwal Market, Vile Nariman Point, Parle (E), Mumbai – 400021. Mumbai-400057. Pan/Gir No. : Aabar7230F Appellant .. Respondent

property which has not been or would not have been disclosed for the purpose of the Indian Income-tax Act, 1922 or the Income-tax Act of 1961 by any person from whose possession or control they have been taken into custody. This is when the authorities have reason to believe that such powers need to be exercised. Therefore

THE DY.COMM. OF INCOME TAX, CENTRAL CIRCLE-5(1) ., MUMBAI vs. M/S. SHAH & PARIKH, MUMBAI

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Baskaran Br & Shri Pavan Kumar Gadalethe Dcit, Vs. M/S Shah & Parikh Central Circle 5(1), 2, Vallabh Niwas, Room No. 1928, 19Th Malviya Road, Floor, Air India Bldg, Vile Parle(E), Nariman Point, Mumbai-400057 Mumbai – 400021. Pan/Gir No. : Aajfs4684D Appellant .. Respondent

property which has not been or would not have been disclosed for the purpose of the Indian Income-tax Act, 1922 or the Income-tax Act of 1961 by any person from whose possession or control they have been taken into custody. This is when the authorities have reason to believe that such powers need to be exercised. Therefore

THE DY COMM. OF INCOME TAX, CENTRAL CIRCLE-5(1) ., MUMBAI vs. RPS INFRA PROJECTS PRIVATE LIMITED, MUMBAI

In the result, the appeals filed by the revenue for A

Bench: Shri Baskaran Br & Shri Pavan Kumar Gadale

property which has not been or would not have been disclosed for the purpose of the Indian Income-tax Act, 1922 or the Income-tax Act of 1961 by any person from whose possession or control they have been taken into custody. This is when the authorities have reason to believe that such powers need to be exercised. Therefore