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 ()

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

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 ()

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

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 ()

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

SWARAN NADHAN SALARIA,MUMBAI vs. DICT 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 ()

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

RELIANCE INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX -CIRCLE 3(4) , MUMBAI

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

depreciation on KGD6 Block of Rs. 231,99,95,977/-\nignoring the facts that the penalty was levied by the AO on the\nquantum additions/ disallowance confirmed during the appellate\nstage and penalty u/s 271

THE DCIT-1(3)(1) MUMBAI, MUMBAI vs. M/S FERN INFRASTRUCTURE PVT LTD, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

depreciation was restricted to ₹.14,71,20,377/- as against ₹.19,96,45,361/- claimed by the assessee. 3. With regard to the above said adjustments, Assessing Officer initiated the penalty proceedings u/s. 271

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

penalty u/s 271(1)(c) of the Act might not be levied for\nfurnishing inaccurate particulars of the income.\n4.5 With regard to the disallowance of “salary and wages expenses\n"amounting to Rs.14,22,444/- and disallowance of “administrative\nexpenses” amounting to Rs.2,17,162/- made u/s 37(1) of the Act,\nthe assessee submitted that same was made

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

penalty u/s 271(1)(c) of the Act might not be levied for\nfurnishing inaccurate particulars of the income.\n4.5 With regard to the disallowance of “salary and wages expenses\n" amounting to Rs.14,22,444/- and disallowance of “administrative\nexpenses” amounting to Rs.2,17,162/- made u/s 37(1) of the Act,\nthe assessee submitted that same was made

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

penalty u/s 271(1)(c) of the Act might not be levied for\nfurnishing inaccurate particulars of the income.\n4.5 With regard to the disallowance of “salary and wages expenses\n"amounting to Rs.14,22,444/- and disallowance of “administrative\nexpenses” amounting to Rs.2,17,162/- made u/s 37(1) of the Act,\nthe assessee submitted that same was made

SHREE YADVESH TRANSPORT CO . PVT LTD,MUMBAI vs. ITO, WARD 13(2)(1), MUMBAI

In the result the appeal filed by the assessee stands allowed

Bench: Smt. Beena Pillai () & Smt. Renu Jauhri ()

penalty notice u/s 271(1)(c) r.w.s.271 of the Act on 27.11.2018 for filing inaccurate particular of income. A show cause notice u/s 271(1)(C) dated 05.04.2019 was issued to the assessee by the Ld.AO. After examination considering the submission of the assessee, the excess claim of depreciation

ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-3(4), MUMBAI, MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

Accordingly.\n7. To sum-up, these Revenue's twin appeals ITA.Nos.1875 & 1872/Mum./2024 and assessee's cross objections C.O.Nos.88 & 89/MUM./2024 are dismissed in above terms

u/s. 115JB of the Act. In the order, various additions and disallowances were made in respect of (i) notional sales tax, (ii) depreciation, (iii) depreciation on KGD6, (iv) disallowance u/s.14A, (v) transfer pricing, (vi) depreciation on account of steel purchases from PK Agrawal group of concerns, (vii) disallowance of depreciation in respect of Jetty of GMB, (viii) depreciation on office

EVEREST KANTO CYLINDER LTD,MUMBAI vs. DCIT CIRCLE 3(4), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rahul Chaudhary & Shri Prabhash Shankareverest Kanto Cylinder V/S. Deputy Commissioner Of Ltd. बनाम Income Tax, Circle – 3(4), 204,Raheja Centre, Free World Trade Centre 1, Cuffe Press Journal Marg, Parade, Mumbai – 400005, Nariman Point, Mumbai – Maharashtra 400 021, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace0836F Appellant/अपीलार्थी .. Respondent/प्रतिवादी

U/s 274 of the Act was issued and secondly, there is no mention about the limb under which the penalty was proposed to be levied whether for concealment of income or for furnishing inaccurate particulars of income. So accordingly, the said notice is invalid. Considering the fact of the case, the Ld.AR informed that related to addition of bad debt

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

depreciation penalty is not leviable. The additions in assessment proceedings will not automatically lead to inference of levying penalty. This Court in the case of GUJAMGADI reported in 290 ITR 168, has held that every addition to income by the Income Tax Officer will not automatically attract levy of penalty. Similar view has also been taken by this Court

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT-CENTRAL CIRCLE 1(2), MUMBAI

In the result, the appeals filed by the assessee bearing ITA Nos

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

depreciation In ROI filed u/s 153A Rs. 4,20,640/- 5. Additional income in the return filed u/s 153A Rs.1,07,84,250/- Rs.2,57,98,917/- made by the Ld. AO. Finally, the notice u/s 274 r.w.s. 271(1)(c) of the Act was issued and the penalty

TRIG DETECTIVES PVT LTD ,MUMBAI vs. DCIT-CENTRAL CIRCLE 1(2), MUMBAI

In the result, the appeals filed by the assessee bearing ITA Nos

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

depreciation In ROI filed u/s 153A Rs. 4,20,640/- 5. Additional income in the return filed u/s 153A Rs.1,07,84,250/- Rs.2,57,98,917/- made by the Ld. AO. Finally, the notice u/s 274 r.w.s. 271(1)(c) of the Act was issued and the penalty

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT-CENTRAL CIRCLE 1(2), MUMBAI

In the result, the appeals filed by the assessee bearing ITA Nos

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

depreciation In ROI filed u/s 153A Rs. 4,20,640/- 5. Additional income in the return filed u/s 153A Rs.1,07,84,250/- Rs.2,57,98,917/- made by the Ld. AO. Finally, the notice u/s 274 r.w.s. 271(1)(c) of the Act was issued and the penalty

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result, the appeals filed by the assessee bearing ITA Nos

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

depreciation In ROI filed u/s 153A Rs. 4,20,640/- 5. Additional income in the return filed u/s 153A Rs.1,07,84,250/- Rs.2,57,98,917/- made by the Ld. AO. Finally, the notice u/s 274 r.w.s. 271(1)(c) of the Act was issued and the penalty

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT -CENTRAL CIRCLE -1(2), MUMBAI

In the result, the appeals filed by the assessee bearing ITA Nos

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

depreciation In ROI filed u/s 153A Rs. 4,20,640/- 5. Additional income in the return filed u/s 153A Rs.1,07,84,250/- Rs.2,57,98,917/- made by the Ld. AO. Finally, the notice u/s 274 r.w.s. 271(1)(c) of the Act was issued and the penalty