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 ()

section 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 ()

section 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

ARTI SHAILEN TOPIWALA,ANDHERI WEST, MUMBAI vs. ITO, WARD 34(1)(1), MUMBAI, BKC, BANDRA EAST, MUMBAI

In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for statisti...

Bench: Shri Sandeep Gosain () & Om Prakash Kant () Ita No. 4383 & 4384/Mum/2025 Assessment Year: 2013-14 Arti Shailen Topiwala Ito, Ward 34(1)(1), Mumbai B-701, Parimal Apartment, C.D. Income Tax Appellate Barfiwala Road, Andheri West, Vs. Tribunal, Mumbai- 400058 Mumbai- 400020 Pan No. Aacpt 3505 D Appellant Respondent

11 ITA No TA No. 4383 and 4384/MUM/2025 submitted that second appeal in respect of the 271(1)(c) has not submitted that second appeal in respect of the 271(1)(c) has not submitted that second appeal in respect of the 271(1)(c) has not disposed of by Ld. CIT(A). He submitted that in view

ARTI SHAILEN TOPIWALA,ANDHERI WEST, MUMBAI vs. ITO, WARD 34(1)(1), MUMBAI, BKC, BANDRA EAST, MUMBAI

In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for statisti...

Bench: Shri Sandeep Gosain () & Om Prakash Kant () Ita No. 4383 & 4384/Mum/2025 Assessment Year: 2013-14 Arti Shailen Topiwala Ito, Ward 34(1)(1), Mumbai B-701, Parimal Apartment, C.D. Income Tax Appellate Barfiwala Road, Andheri West, Vs. Tribunal, Mumbai- 400058 Mumbai- 400020 Pan No. Aacpt 3505 D Appellant Respondent

11 ITA No TA No. 4383 and 4384/MUM/2025 submitted that second appeal in respect of the 271(1)(c) has not submitted that second appeal in respect of the 271(1)(c) has not submitted that second appeal in respect of the 271(1)(c) has not disposed of by Ld. CIT(A). He submitted that in view

ILA JITENDRA MEHTA,MUMBAI vs. DCIT CENTRAL CIRCLE 8(4), MUMBAI

In the result, the appeal of the Assessee is allowed

Bench: Shri Narender Kumar Choudhry & Smt Renu Jauhriassessment Year: 2014-15

11. The AO though considered the aforesaid reply of the Assessee, however, not being satisfied, rejected the same and by relying on various judgments, vide penalty order dated 19.06.2017 u/s 271(1)(c) of the Act, ultimately levied the penalty of Rs.2,28,41,400/- on account of filing of inaccurate particular of income within the meaning of section

DCIT, CC-7(1), MUMBAI vs. M/S MANEESH PHARMACEUTICALS LTD., MUMBAI

u/s 274 r.w.s. 271 has to be held as void-ab-initio. I, therefore, overturn the impugned order and direct to delete the penalty. The additional grounds of appeal are accordingly allowed.” (Emphasis Supplied) 7. Being aggrieved by the order, dated 27.07.2022, passed by the CIT(A) deleting penalty of INR 2,85,23,354/- under Section 271

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

11 Taxman 228 (Delhi). 5. On the contrary, the Ld. Departmental Representative (DR) On the contrary, the Ld. Departmental Representative (DR) On the contrary, the Ld. Departmental Representative (DR) submitted that omission submitted that omission by the Assessing Officer to initiate penalty Officer to initiate penalty proceedings has squarely rendered the assessment order erroneous squarely rendered the assessment order erroneous

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

section 271(1)(c). [Para 9.1] In view of aforesaid, impugned order of the Commissioner (Appeals) deleting penalty was to be upheld..' Thus, respectfully following the decision of Hon'ble Supreme Court in the case of K C Builders (supra), the penalty u/s.271(1)(c) levied by the AO on transfer pricing adjustment is deleted. 7.3.3.7 The levy of penalty

DCIT CC 7(2), MUMBAI, MUMBAI vs. M/S MAN INDUSTRIES (INDIA) LIMITED, MUMBAI

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

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

11 wherein the Tribunal has deleted the penalty levied on estimation of the addition. The relevant para is reproduced as estimation of the addition. The relevant para is reproduced as estimation of the addition. The relevant para is reproduced as under : “5. We have heard both the sides and perused the material on 5. We have heard both the sides

DCIT CC-7(2), MUMBAI, MUMBAI vs. MAN INDUSTRIES (I) LTD., MUMBAI

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

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

11 wherein the Tribunal has deleted the penalty levied on estimation of the addition. The relevant para is reproduced as estimation of the addition. The relevant para is reproduced as estimation of the addition. The relevant para is reproduced as under : “5. We have heard both the sides and perused the material on 5. We have heard both the sides

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

11 of the Paper Book at 19th March, 2015, and penalty notice issued under Section 274 read with section 271(1)(c) of the Act for A.Y. 2010-11 issued on 31st December, 2015, placed at page no.11 of the Paper Book does not strike off any one of the twin charges against the assessee and therefore, such penalty notices

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

11 of the Paper Book at 19th March, 2015, and penalty notice issued under Section 274 read with section 271(1)(c) of the Act for A.Y. 2010-11 issued on 31st December, 2015, placed at page no.11 of the Paper Book does not strike off any one of the twin charges against the assessee and therefore, such penalty notices

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 271(1)(c) of the Act ought to be deleted, since the appellant is assessed to tax under MAT provisions and the penalty has been levied with reference to additions / disallowances made under the normal provisions of the Act.\n4.1 As per the order of the AO dated 05.02.2021 giving effect to the order of the Hon'ble ITAT

INCOME TAX OFFICIER- 23(3)(1), MUMBAI, MUMBAI vs. TISYA JEWELS, MUMBAI

In the result, both the appeals of the Revenue are accordingly partly allowed

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5Th Floor, Piramal Chambers, Vs. Waterfield Road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 Pan No. Aadft 8056 G Appellant Respondent Assessee By : Mr. Nishit Gandhi A/W Ms. Aadnya Bhandari Revenue By : Mr. Hemanshu Joshi, Cit-Dr

u/s. 271(1)(c), the Id. CIT(A) directed the A.O to restrict the levy of penalty to the extent of addition confirmed in the appeal. Further aggrieved by the order of Id. CIT(A), the assessee filed the appeal before ITAT. The Tribunal observed as follows: "We have considered the rival submission of the parties and have gone through

INCOME TAX OFFICER- 23(3)(1), MUMBAI, MUMBAI vs. TISYA JEWELS, MUMBAI

In the result, both the appeals of the Revenue are accordingly partly allowed

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5Th Floor, Piramal Chambers, Vs. Waterfield Road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 Pan No. Aadft 8056 G Appellant Respondent Assessee By : Mr. Nishit Gandhi A/W Ms. Aadnya Bhandari Revenue By : Mr. Hemanshu Joshi, Cit-Dr

u/s. 271(1)(c), the Id. CIT(A) directed the A.O to restrict the levy of penalty to the extent of addition confirmed in the appeal. Further aggrieved by the order of Id. CIT(A), the assessee filed the appeal before ITAT. The Tribunal observed as follows: "We have considered the rival submission of the parties and have gone through

GAUTAM PURANMAL PODDAR,KALYAN vs. ACIT, CIRCLE 3(2), KALYAN

In the result, the appeals of the assessee are allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 583 & 584/Mum/2023 Assessment Years: 2014-15 & 2015-16 Gautam Puranmal Poddar Acit, Circle-3(2), (Huf), 2Nd Floor, Rani Mansion, Plot No. Rl 1 Milap Nagar Midc Vs. Above Canara Bank, Resioential Area Dombivli East Murbad Rd. Kalyan, Kalyan-421 301. Thane-421 301. Pan No. Aaehg 6868 A Appellant Respondent Assessee By : Mr. Jayant Bhatt, Ca Revenue By : Mr. Paresh Deshpande, Dr : Date Of Hearing 27/04/2023 Date Of Pronouncement : 28/04/2023 Order

u/s 271(1)(c) of the Act. After taking into 271(1)(c) of the Act. After taking into consideration, the submission consideration, the submission of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. 4. On further appeals

GAUTAM PURANMAL PODDAR,KALYAN vs. ACIT, CIRCLE 3(2), KALYAN

In the result, the appeals of the assessee are allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 583 & 584/Mum/2023 Assessment Years: 2014-15 & 2015-16 Gautam Puranmal Poddar Acit, Circle-3(2), (Huf), 2Nd Floor, Rani Mansion, Plot No. Rl 1 Milap Nagar Midc Vs. Above Canara Bank, Resioential Area Dombivli East Murbad Rd. Kalyan, Kalyan-421 301. Thane-421 301. Pan No. Aaehg 6868 A Appellant Respondent Assessee By : Mr. Jayant Bhatt, Ca Revenue By : Mr. Paresh Deshpande, Dr : Date Of Hearing 27/04/2023 Date Of Pronouncement : 28/04/2023 Order

u/s 271(1)(c) of the Act. After taking into 271(1)(c) of the Act. After taking into consideration, the submission consideration, the submission of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. 4. On further appeals

GENERAL ELECTRIC INTERNATIONAL INC.,GURGAON vs. DCIT, INTERNATIONAL TAXATION CIRCLE 2(3)(2), MUMBAI

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

section 271(1)(c) of the Act. 4. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) confirmed the levy of penalty u/s 271(1)(c) on account of concealment of income, without appreciating the fact as under- a) The Ld. AO has levied penalty u/s 271