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 ()

loss of revenue. The penalty under the said sections is a civil liability. The penalty under the said sections is a civil liability. The penalty under the said sections is a civil liability. Wilful concealment is not an essential ingredient for attracting Wilful concealment is not an essential ingredient for attracting Wilful concealment is not an essential ingredient for attracting

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 ()

loss of revenue. The penalty under the said sections is a civil liability. The penalty under the said sections is a civil liability. The penalty under the said sections is a civil liability. Wilful concealment is not an essential ingredient for attracting Wilful concealment is not an essential ingredient for attracting Wilful concealment is not an essential ingredient for attracting

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 ()

loss of revenue. The penalty under the said sections is a civil liability. The penalty under the said sections is a civil liability. The penalty under the said sections is a civil liability. Wilful concealment is not an essential ingredient for attracting Wilful concealment is not an essential ingredient for attracting Wilful concealment is not an essential ingredient for attracting

ACIT-3(4), MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed whereas the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2016-17 Reliance Industries Ltd., Dy. Cit Circle 3(4), 3Rd Floor, Maker Chamber Iv 222 Room No. 559, Aayakar Bhavan, Nariman Point, Vs. Maharshi Karve Road, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent Assessment Year: 2016-17 Acit-3(4), Reliance Industries Ltd., Room No. 481(2), 4Th Floor, 3Rd Floor, Maker Chamber Iv Aayakar Bhavan, N.M. Road, Vs. Nariman Point, New Marine Lines, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent

carried with it the element of mens rea. Therefore, the mere fact that some figure or some particulars have been disclosed by itself, even if takes out the case from the purview of non- disclosure, it cannot by itself take out the case from the purview of furnishing inaccurate particulars. More omission from the return of an item of receipt

ASSTT COMMISSIONER OF INCOME TAX 19(1), MUMBAI vs. KETAN ANIL SHAH, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2014-15 Asst. Commissioner Of Ketan Anil Shah Income-Tax 19(1), Mumbai, 44/B Rajul Apartment Vs. Matru Mandir, Room No.203, J Mehta Marg, Napean Sea Grant Road, Mumbai-400 007 Road, Mumbai-400 006 Pan No. Aaips 9400 J Appellant Respondent : Revenue By Smt. Madhumalti Ghosh, Cit-Dr Assessee By : Shri Anish Shah, Ca & Shri Haridas Bhat Date Of Hearing : 01/12/2022 Date Of Pronouncement : 19/01/2023

loss is disallowed and hence, not allowed to be set off & carried forward. Penalty proceedings u/s and hence, not allowed Penalty proceedings u/s 271

ASSISTANT COMMISSIONER OF INCOME TAX 32(1), MUMBAI, MUMBAI, KAUTILYA BHAVAN BKC vs. ARVIND SHANTILAL SHAH, MUMBAI

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

forward of losses is also required to be allowed to the appellant in accordance with law holding the earning of the appellant in accordance with law holding the earning of the appellant in accordance with law holding the earning of profits to be genuine. The Grounds of Appeal are Allowed. to be genuine. The Grounds of Appeal are Allowed

ASSISTANT COMMISSIONER OF INCOME TAX 32(1) MUMBAI, KAUTILYA BHAVAN BKC vs. ARVIND SHANTILAL SHAH, MUMBAI

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

forward of losses is also required to be allowed to the appellant in accordance with law holding the earning of the appellant in accordance with law holding the earning of the appellant in accordance with law holding the earning of profits to be genuine. The Grounds of Appeal are Allowed. to be genuine. The Grounds of Appeal are Allowed

DCIT, CENTRAL CIRCLE - 7(1), MUMBAI , MUMBAI vs. MANEESH PHARMACEUTICALS LIMITED, MUMBAI

In the result, appeal of the revenue is dismissed

Bench: Ms. Kavitha Rajagopal & Shri Girish Agrawalassessment Year: 2010-11 Deputy Commissioner Of Income Maneesh Pharmaceuticals Ltd., Tax, Vs. 29-33, Ancillary Industrial Central Circle – 7(1), Plots, Near M Ward, Mumbai Govandi, Mumbai – 400 043 (Pan : Aaacm3635Q) (Appellant) (Respondent) Present For: Assessee : Shri Jaypraksh Bairagra, Ca Revenue : Smt. Sanyogita Nagpal, Cit, Dr

forward losses. Thus, the amount of tax sought to be evaded as required in explanation 1 to section 271(1)(c) is indeterminable for the imposition of penalty as rightly observed by the ld. CIT(A). 8. The fact that the assessee has not carried in appeal the reduction of its claim by the Assessing Officer is sought

ASSISTANT COMMISSIONER OF INCOME TAX, MUMBAI vs. NEVALES NETWORKS PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhailassessment Year : 2013-14 Dcit, Circle-14(1)(1), M/S. Nevales Networks Pvt. Ltd., Room No. 432, 4Th Floor, The Capital, Aayakar Bhavan, Vs. Level 7, Plot-C70, M.K.Road, G Block, Mumbai-400020. Bandra Kurla Complex, Bandra (East), Mumbai-400051. Pan : Aadcn1748A (Appellant) (Respondent) Assessee By : Shri Piyush Chhajed Revenue By : Shri Leyaqat Ali Aafaqui

Carried Forward Losses would not be utilized by the company. After considering the nature of this addition, I am inclined to agree with the appellant's argument. The penalty u/s 271

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

forward business losses from the taxable income. taxable income. Deepak Novochem 3 ITA Nos. 2558 to 2562/Mum/2023 ITA Nos. 2558 to 2562/Mum/2023 Initiation of penalty proceedings itiation of penalty proceedings 5. On the facts and in the circumstances of the case, and in law, the Ld. On the facts and in the circumstances of the case

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

forward business losses from the taxable income. taxable income. Deepak Novochem 3 ITA Nos. 2558 to 2562/Mum/2023 ITA Nos. 2558 to 2562/Mum/2023 Initiation of penalty proceedings itiation of penalty proceedings 5. On the facts and in the circumstances of the case, and in law, the Ld. On the facts and in the circumstances of the case

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

forward business losses from the taxable income. taxable income. Deepak Novochem 3 ITA Nos. 2558 to 2562/Mum/2023 ITA Nos. 2558 to 2562/Mum/2023 Initiation of penalty proceedings itiation of penalty proceedings 5. On the facts and in the circumstances of the case, and in law, the Ld. On the facts and in the circumstances of the case

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

forward business losses from the taxable income. taxable income. Deepak Novochem 3 ITA Nos. 2558 to 2562/Mum/2023 ITA Nos. 2558 to 2562/Mum/2023 Initiation of penalty proceedings itiation of penalty proceedings 5. On the facts and in the circumstances of the case, and in law, the Ld. On the facts and in the circumstances of the case

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

forward business losses from the taxable income. taxable income. Deepak Novochem 3 ITA Nos. 2558 to 2562/Mum/2023 ITA Nos. 2558 to 2562/Mum/2023 Initiation of penalty proceedings itiation of penalty proceedings 5. On the facts and in the circumstances of the case, and in law, the Ld. On the facts and in the circumstances of the case

HEWLETT PACKARD FINANCIAL SERVICES (INDIA) P. LTD,BANGALORE vs. ASST CIT CIR 2(1)(2), BANGALURU

Accordingly, the ground is dismissed as not pressed

Bench: Smt Beena Pillai, Jm &\Nms Padmavathy S, Am\Ni.T.A. No. 915/Mum/2017\N(Assessment Year: 2011-12)\Nhewlett Packard Financial\Nservices (India) Pvt. Ltd.,\N24, Salarpuria Arena, Hosur Main\Nroad, Adugodi, Bangalore-560030.\Npan: Aabcc5967C\Nappellant)\Nassessee By\Nrevenue By\Ndate Of Hearing\Ndate Of Pronouncement\Nacit, Circle-2(1)(2),\Naayakar Bhavan,\Nvs. M.K. Road, Mumbai-400020.\N:\N:\N:\N:\Nrespondent)\Nshri Percy Pardiwala &\Nmr. Ninad Patade, Ar\Nshri Pravin Salunkhe, Sr. Dr\N22.09.2025\N21.10.2025\Norder\Nper Padmavathy S, Am:\Nthis Appeal By The Assessee Is Against The Order Of The Commissioner Of\Nincome Tax (Appeals)-4, Mumbai [In Short 'Cit(A)'] Passed Under Section 250 Of\Nthe Income Tax Act, 1961 (The Act) Dated 25.10.2016 For Assessment Years (Ay)\N2011-12. The Assessee Raised Grounds Pertaining To The Following Issues:\N(I) Disallowance Of Claim Of Depreciation On \"Hp Indigo Digital Press\Nprinter\" @ 60% - Ground No. 1.1 To 1.7\N(Ii) Treatment Of Ceased Liability As Income U/S 41 - Ground No. 2.1 To\N2.9\N(Iii) Disallowance Of Set Off Of Unabsorbed Depreciation - Ground\Nno. 3.1 To 3.9\N(Iv) Disallowance Of Provision For Tds Certificates & Addition To\Nbook Profits U/S.115Jb - Ground No.

carry forward of the same in accordance\nwith law. The assessee is directed to submit the required details with regard to the\ndepreciation claimed in AY 2001-03 to 2008-09 before the AO and cooperate with\nthe proceedings. It is ordered accordingly.\nDisallowance of provision for TDS Certificates and addition to book profits\nu/s.115JB -Ground

DWARKA CEMENT WORKS LIMITED(CONVERTED INTO DWARKA CEMENT WORKS LLP W.E.F 15-09-2022),MUMBAI vs. THE INCOME TAX OFFICER,WARD-6(2)(1),MUMBAI, MUMBAI

In the result, the appeal of the assessee is allowed

loss for A.Y. 2015-16 was claimed or carried forward in\nsubsequent assessment years.\n8. The assessee further contended that there was neither\nconcealment of particulars of income nor furnishing of inaccurate\nparticulars. According to the assessee, the entire claim was\ntransparently disclosed in the return and audited financial\nstatements. It was also argued that the penalty notice issued\nunder

FABRIKANT TRADING (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT CIRCLE 5(1)(1), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

u/s 271(1)(c) be deleted. The Appellant craves leave to reserve to itself the right to add, after, amend or annul any of the grounds of appeal at or before the time of hearing and to produce such further evidences, documents and papers as may be necessary. 3. The issue arising in ground no.2, raised in assessee’s appeal

THE RUBY MILLS LIMITED,MUMBAI vs. DCIT, CIRCLE - 8(3)(1), MUMBAI

In the result, the substantial ground of appeal is allowed

Bench: Shri Pawan Singh & Shri Prabhash Shankar(Physical Hearing) The Ruby Mills Limited Dcit, Circle – 8(3)(1), 11Th Floor, Ruby House A, J.K. Sawant Vs Aayakarbhawan,Mumbai-400020. Marg, Dadar West, Mumbai – 400028. [Pan No. Aaact0220G] Appellant / Assessee Respondent / Revenue

u/s 271(1)(c) was to be deleted. 8. On the facts and in the circumstances of the appellant company's case and in law, the Ld. Commissioner of Income Tax (Appeals), erred in confirming levy of penalty, ignoring the fact that there was no mens rea or intention or deliberate attempt on the part of the appellant to furnish