DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

housing projects, cash loans/deposits, etc. As per the Revenue, the assessee violated the provisions of ITA Nos.7124 to 7129/Mum/2016 4 M/s Galaxy Premises Pvt. Ltd. section 269SS of the Act. A show cause notice was issued to the assessee as to why penalty under section 271D should not be levied. The assessee filed its submissions vide letter dated 13/07/2015, which

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

housing projects, cash loans/deposits, etc. As per the Revenue, the assessee violated the provisions of ITA Nos.7124 to 7129/Mum/2016 4 M/s Galaxy Premises Pvt. Ltd. section 269SS of the Act. A show cause notice was issued to the assessee as to why penalty under section 271D should not be levied. The assessee filed its submissions vide letter dated 13/07/2015, which

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

housing projects, cash loans/deposits, etc. As per the Revenue, the assessee violated the provisions of ITA Nos.7124 to 7129/Mum/2016 4 M/s Galaxy Premises Pvt. Ltd. section 269SS of the Act. A show cause notice was issued to the assessee as to why penalty under section 271D should not be levied. The assessee filed its submissions vide letter dated 13/07/2015, which

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

housing projects, cash loans/deposits, etc. As per the Revenue, the assessee violated the provisions of ITA Nos.7124 to 7129/Mum/2016 4 M/s Galaxy Premises Pvt. Ltd. section 269SS of the Act. A show cause notice was issued to the assessee as to why penalty under section 271D should not be levied. The assessee filed its submissions vide letter dated 13/07/2015, which

R. KUNDAN & CO.,MUMBAI vs. ITO WD 14(3)(2), MUMBAI

Bench: Shri Joginder Singh & Shri Rajesh Kumar

property documents, etc. It is also noted that for A.Y. 2007-08, the contention of the assessee as well as other details, contention of the Assessing Officer were considered holding that the period of stay of the assessee in India was 173 days as against 178 days determined by the Assessing Officer, meaning thereby, the period of stay was less

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. ITO CENTRAL CIRCLE 5(2), MUMBAI

In the result, all the five appeals of the assessee are partly allowed

275\n(a) The Id. CIT(A) erred in law in confirming the order of the AO in gross violation of the provisions of natural justice;\nCOME TAX APPELLATE TRIBUN\nPage 10\nITA No. 435 to 439/Mum/2025\nΑ.Υ. 2010-11, 11-12, 12-13, 13-14 & 16-17\nMohan Thakurdas Gurnani\ni. by denying any opportunity to your appellant

NSE IT LTD,MUMBAI vs. DCIT 8(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.5935/Mum/2014 (नििाारण वर्ा / Assessment Year: 2005-06) बिाम/ M/S. Nse. It Ltd, Dcit 8(2), Mumbai Trade Globe, Ground Floor, Andheri Kurla Road, V. Andheri (E), Mumbai 400059 स्थायी ऱेखा सं./ Pan : Aabcn0159P (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

house property" and (ii) claim of deduction in respect of provision for income-tax. The CIT (A) & Tribunal deleted the penalty on the ground that the claim for deduction in respect of income-tax was a "human bonafide clerical mistake" as the assessee was a firm not having expert chartered accountants on its payroll. In appeal before the High Court

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. ITO CENTERAL CIRCLE 5(2), MUMBAI

In the result, all the five appeals of the assessee are partly allowed

275\n(a) The Id. CIT(A) erred in law in confirming the order of the AO in gross\nviolation of the provisions of natural justice;\ni. by denying any opportunity to your appellant to present the case on\nmerits,\nii. by not giving effect to the order of ITAT on merits of the case,\niii. in not giving

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. ITO CENTRAL CIRCLE 5(2), MUMBAI

In the result, all the five appeals of the assessee are partly allowed

275\n(a) The Id. CIT(A) erred in law in confirming the order of the AO in gross\nviolation of the provisions of natural justice;\nPage 9\nITA No. 435 to 439/Mum/2025\nΑ.Υ. 2010-11, 11-12, 12-13, 13-14 & 16-17\nMohan Thakurdas Gurnani\ni. by denying any opportunity to your appellant to present the case

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. ITO CENTRAL CIRCLE 5(2), MUMBAI

In the result, all the five appeals of the assessee are partly allowed

275\n(a) The Id. CIT(A) erred in law in confirming the order of the AO in gross\nviolation of the provisions of natural justice;\nPage 9\nITA No. 435 to 439/Mum/2025\nΑ.Υ. 2010-11, 11-12, 12-13, 13-14 & 16-17\nMohan Thakurdas Gurnani\ni. by denying any opportunity to your appellant to present the case

MOHAN THAKURDAS GURNANI,NAVI MUMBAI vs. ITO CENTERAL CIRCLE 5(2), MUMBAI

In the result, all the five appeals of the assessee are partly allowed

275\n(a) The Id. CIT(A) erred in law in confirming the order of the AO in gross\nviolation of the provisions of natural justice;\nCOME TAX APPELLATE TRIBUN\nPage 10\nITA No. 435 to 439/Mum/2025\nΑ.Υ. 2010-11, 11-12, 12-13, 13-14 & 16-17\nMohan Thakurdas Gurnani\ni. by denying any opportunity to your appellant

TRADE WINGS LTD,MUMBAI vs. ITO WD 2(3)(3), MUMBAI

In the result , appeal of the assessee company in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3416/Mum/2013 ("नधा"रण वष" / Assessment Year : 2006-07) आयकर अपील सं./I.T.A. No. 3417/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 3418/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) आयकर अपील सं./I.T.A. No. 3419/Mum/2013 ("नधा"रण वष" / Assessment Year : 2009-10) Trade Wings Limited, Income Tax Officer – Ward बनाम/ 18/20-K, Dubash Marg, 2(3)(3), V. Fort,Mumbai – 400 023. Aayakar Bhavan, M.K. Marg, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaact4639F (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

c) of the Act, can be levied in respect of the disallowance made by the Assessing Officer, as the appellant had paid the tax on deemed income under the provision of section 115JB of the Act. On the facts and circumstances of the case and in law, the penalty levied ought to be deleted.” 14. Our decision

TRADE WINGS LTD,MUMBAI vs. ITO WD 2(3)(3), MUMBAI

In the result , appeal of the assessee company in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3416/Mum/2013 ("नधा"रण वष" / Assessment Year : 2006-07) आयकर अपील सं./I.T.A. No. 3417/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 3418/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) आयकर अपील सं./I.T.A. No. 3419/Mum/2013 ("नधा"रण वष" / Assessment Year : 2009-10) Trade Wings Limited, Income Tax Officer – Ward बनाम/ 18/20-K, Dubash Marg, 2(3)(3), V. Fort,Mumbai – 400 023. Aayakar Bhavan, M.K. Marg, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaact4639F (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

c) of the Act, can be levied in respect of the disallowance made by the Assessing Officer, as the appellant had paid the tax on deemed income under the provision of section 115JB of the Act. On the facts and circumstances of the case and in law, the penalty levied ought to be deleted.” 14. Our decision

TRADE WINGS LTD,MUMBAI vs. ITO WD 2(3)(3), MUMBAI

In the result , appeal of the assessee company in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3416/Mum/2013 ("नधा"रण वष" / Assessment Year : 2006-07) आयकर अपील सं./I.T.A. No. 3417/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 3418/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) आयकर अपील सं./I.T.A. No. 3419/Mum/2013 ("नधा"रण वष" / Assessment Year : 2009-10) Trade Wings Limited, Income Tax Officer – Ward बनाम/ 18/20-K, Dubash Marg, 2(3)(3), V. Fort,Mumbai – 400 023. Aayakar Bhavan, M.K. Marg, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaact4639F (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

c) of the Act, can be levied in respect of the disallowance made by the Assessing Officer, as the appellant had paid the tax on deemed income under the provision of section 115JB of the Act. On the facts and circumstances of the case and in law, the penalty levied ought to be deleted.” 14. Our decision

TRADE WINGS LTD,MUMBAI vs. ITO WD 2(3)(3), MUMBAI

In the result , appeal of the assessee company in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3416/Mum/2013 ("नधा"रण वष" / Assessment Year : 2006-07) आयकर अपील सं./I.T.A. No. 3417/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 3418/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) आयकर अपील सं./I.T.A. No. 3419/Mum/2013 ("नधा"रण वष" / Assessment Year : 2009-10) Trade Wings Limited, Income Tax Officer – Ward बनाम/ 18/20-K, Dubash Marg, 2(3)(3), V. Fort,Mumbai – 400 023. Aayakar Bhavan, M.K. Marg, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaact4639F (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

c) of the Act, can be levied in respect of the disallowance made by the Assessing Officer, as the appellant had paid the tax on deemed income under the provision of section 115JB of the Act. On the facts and circumstances of the case and in law, the penalty levied ought to be deleted.” 14. Our decision

ANJIS DEVELOPERS PRIVATE LIMITED,MUMBAI vs. PRINCIPLE CIT-5,MUMBAI, MUMBAI

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

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2017-18 Anjis Developers Private Limited, Pcit-5, 2Nd Floor, Soham Apartments, Room No. 515, 5Th Floor, 208, Walkeshwar Road, Teen Vs. Aayakar Bhavan, Mk. Batti, Road, Mumbai-400006. Mumbai-400020. Pan No. Aaaca 6022 H Appellant Respondent : Assessee By S. Sriram/Dinesh Kukreja/Ssnyaknavedie Revenue By : Shri Chetan Kacha, Dr : Date Of Hearing 25/11/2022 Date Of Pronouncement : 20/02/2023

house property’ in respect of unsold property’ in respect of unsold flats,the Assessing Officer was he Assessing Officer was required to initiate penalty proceedings u/s 270A of the Act and initiate penalty proceedings u/s 270A of the Act and initiate penalty proceedings u/s 270A of the Act and non-initiation of penalty of penalty has rendered the assessment order

INDOKEM LTD,MUMBAI vs. CIT CIR 6, MUMBAI

In the result, the appeals of assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

275/- equivalent to ₹ 8,07,300/- per annum. Based on the rent received by Indokem Limited from its tenant, the AO computed the annual value in the assessee’s case at ₹ 8,07,300/- under section 23(1)(a) of the Act. This re-assessment was challenged in appeal before the CIT(A) and the CIT(A) by his appellate

INDOKEM LTD,MUMBAI vs. CIT CR 6, MUMBAI

In the result, the appeals of assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

275/- equivalent to ₹ 8,07,300/- per annum. Based on the rent received by Indokem Limited from its tenant, the AO computed the annual value in the assessee’s case at ₹ 8,07,300/- under section 23(1)(a) of the Act. This re-assessment was challenged in appeal before the CIT(A) and the CIT(A) by his appellate