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 ()

seizure action u/s 132 of the Act carried out in the case of the assessee in the case of the assessee, notice u/s 153 notice u/s 153A of the Act dated 18.12.2020 Act dated 18.12.2020 was issued to the assessee. In response issued to the assessee. In response to notice u/s 153A of the Act notice u/s 153A

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 ()

seizure action u/s 132 of the Act carried out in the case of the assessee in the case of the assessee, notice u/s 153 notice u/s 153A of the Act dated 18.12.2020 Act dated 18.12.2020 was issued to the assessee. In response issued to the assessee. In response to notice u/s 153A of the Act notice u/s 153A

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

271(1)(c) were inapplicable to the case of search assessments\niii. the addition was made vide an order u/s 153A,\niv. the addition was in respect of such income for which no incriminating material was available,\nV. the addition was not sustainable in law,\nvi. the penalty was initiated without specifying any charge in the assessment order or penalty

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

271(1)(c) were inapplicable to the case of search assessments\niii. the addition was made vide an order u/s 153A,\niv. the addition was in respect of such income for which no incriminating\nmaterial was available,\nV. the addition was not sustainable in law,\nvi. the penalty was initiated without specifying any charge in the assessment\norder or penalty

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

271(1)(c) were inapplicable to the case of search assessments\niii. the addition was made vide an order u/s 153A,\niv. the addition was in respect of such income for which no incriminating\nmaterial was available,\nV. the addition was not sustainable in law,\nvi. the penalty was initiated without specifying any charge in the assessment\norder or penalty

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

271(1)(c) were inapplicable to the case of search assessments\niii. the addition was made vide an order u/s 153A,\niv. the addition was in respect of such income for which no incriminating\nmaterial was available,\nV. the addition was not sustainable in law,\nvi. the penalty was initiated without specifying any charge in the assessment\norder or penalty

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

271(1)(c) were inapplicable to the case of search assessments\niii. the addition was made vide an order u/s 153A,\niv. the addition was in respect of such income for which no incriminating\nmaterial was available,\nv. the addition was not sustainable in law,\nvi. the penalty was initiated without specifying any charge in the assessment\norder or penalty

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

seizure action u/s 132 of the\nAct carried out in the case of the assessee, notice u/s 153A of the\nAct dated 18.12.2020 was issued to the assessee. In response to\nnotice u/s 153A of the Act, the assessee filed return of income on\n24.02.2021 declaring total income at Rs.1,78,56,660/-(i.e. total\nincome varied as compared

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

seizure action u/s 132 of the\nAct carried out in the case of the assessee, notice u/s 153A of the\nAct dated 18.12.2020 was issued to the assessee. In response to\nnotice u/s 153A of the Act, the assessee filed return of income on\n24.02.2021 declaring total income at Rs.1,78,56,660/-(i.e. total\nincome varied as compared

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M JAIN,MUMBAI vs. INCOME TAX OFFICER, WARD-19(1)(1), MUMBAI

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

u/s 271(1)(c) dated 28.03.2019, where in the Rajesh B. Jain as Legal Heir of Bhanwarlal Jain aforesaid contention raised by the assessee was not responded by the Ld. AO, whereas have imposed the penalty under following observation: “26. The assessce in its reply has not been able to give a satisfactory reply to the stand taken

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

u/s 271(1)(c) dated 28.03.2019, where in the Rajesh B. Jain as Legal Heir of Bhanwarlal Jain aforesaid contention raised by the assessee was not responded by the Ld. AO, whereas have imposed the penalty under following observation: “26. The assessce in its reply has not been able to give a satisfactory reply to the stand taken

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

u/s 271(1)(c) dated 28.03.2019, where in the Rajesh B. Jain as Legal Heir of Bhanwarlal Jain aforesaid contention raised by the assessee was not responded by the Ld. AO, whereas have imposed the penalty under following observation: “26. The assessce in its reply has not been able to give a satisfactory reply to the stand taken

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

search and seizure action/survey u/s 131 of the Income Tax Act, 1961 at the\npremises of the assessee. In view of above, the disclosure by the assessce does not\nseem to be voluntary and bona fide but under compulsion.\n30. In the backdrop of the above mentioned facts and circumstances, the addition\non the basis of which the penalty

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

search and seizure action/survey u/s 131 of the Income Tax Act, 1961 at the\npremises of the assessee. In view of above, the disclosure by the assessce does not\nseem to be voluntary and bona fide but under compulsion.\n30. In the backdrop of the above mentioned facts and circumstances, the addition\non the basis of which the penalty

RAJESH B, JAIN AS LEGAL OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

search and seizure action/survey u/s 131 of the Income Tax Act, 1961 at the\npremises of the assessee. In view of above, the disclosure by the assessce does not\nseem to be voluntary and bona fide but under compulsion.\n30. In the backdrop of the above mentioned facts and circumstances, the addition\non the basis of which the penalty

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

search and seizure action/survey u/s 131 of the Income Tax Act, 1961 at the\npremises of the assessee. In view of above, the disclosure by the assessce does not\nseem to be voluntary and bona fide but under compulsion.\n30. In the backdrop of the above mentioned facts and circumstances, the addition\non the basis of which the penalty

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

seizure action u/s 132 of the\nAct carried out in the case of the assessee, notice u/s 153A of the\nAct dated 18.12.2020 was issued to the assessee. In response to\nnotice u/s 153A of the Act, the assessee filed return of income on\n24.02.2021 declaring total income at Rs.1,78,56,660/-(i.e. total\nincome varied as compared

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

In the result the appeal filed by the assessee stands allowed

search and seizure action was taken up on Gurnani group\non 04.02.2016.The assessment order u/s 143(3) r.w.s 153A of\nthe Act was passed on 26.12.2018, wherein the Ld. AO made an\naddition of Rs.69,090/- on account of deemed rent on immovable\nproperty. In the assessment order, the Ld.AO initiated penalty\nproceeding under section 271