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)

271(1)(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)

271(1)(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)

271(1)(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)

271(1)(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

SANDEEP BHIMRAO LAD,MUMBAI vs. DCIT CIRCLE-3, THANE

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 1620/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2009-10)

penalty u/s 271(1)(c) after finding the explanation to be unacceptable and applying Explanation 1(B) of the section. 13. Earthmoving Equipment Service Corporation vs DCIT 22(2) Mumbai The Hon'ble ITAT Mumbai (2017)84 Taxmann.com 51 (Mumbai Trib.) 2017 /166ITD 113

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

113,753 with respect to penalty levied on disallowance of deprecation on steel. Defective penalty notice vitiates entire proceeding. 2. erred in upholding the penalty order despite the show cause notice dated 25.03.2019 did not strike off either of the limb as to whether penalty proceedings are initiated for concealment of income or for furnishing of inaccurate particulars of income

SHAH JAIN ASSOCIATES,MUMBAI vs. ASST CIT RG 24 & 26, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Sri Amit Shukla, Jm & Sri Rajesh Kumar, Am M/S. Shah Jain Associates, Vs. The Asst. Commissioner Of Bahadur Manjil, 2-C, 2Nd Income Tax, Central Circle 24 Floor, S. A. Brevli Road, Store & 26, Mumbai Lane, Fort, Mumbai 400 001 Pan: Aasfs 7448G Appellant .. Respondent

u/s 153A read with section 143(3), which lacks initiation itself. The penalty which has been levied on the basis of the second assessment order, is not sustainable in law, for the reasons that firstly, there is no initiation of penalty proceedings in the assessment order, and secondly, there is to be prima facie satisfaction in the assessment order

PHOENIX INTERNATIONAL FREIGHT SERVICES P. LTD( NOW KNOWN AS AS C.H. ROBINSON INTERNATIONAL (INDIA) P.LTD,),MUMBAI vs. DCIT RG 2(1), MUMBAI

In the result, the appeal is partly allowed

Bench: Shripavankumargadale,Judicialmember & Shri Amarjit Singhm/S. Phoenix Vs. Dy. Commissioner Of International Freight Income Tax, Range-2(1) Services Pvt. Ltd. (Now Mumbai-400050 Known As C.H. Robinson International (India) Pvt. Ltd.) Excom House 7, Saki Vihar Road, Andheri (East) Mumbai-400072 Pan No.Aabce0443R Appellant Respondent

u/s. 23 (1) (a) would immediately attract the levy of penalty 11/5.23, irrespective of the fact that whether the contravention was made by the defaulter with any guilty intention or not. (b) J. K. Industries Ltd. Vs Chief Inspector of Factories & Boilers. (SCC 692, para 42): It was held that the offences under the Act was not a part

LYKA LABS LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 2(2)(1) , MUMBAI

In the result, the appeal by the assessee for the assessment years 2010-

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

u/s 271(1)(c) of the Act despite the show cause notice was invalid. The action is unjustified and unwarranted as the issue is covered by the decision of jurisdictional high court in case of Mohd Farhan Shaikh and Goa Coastal Resorts and Recreation Pvt. Ltd. 2. The Ld. CIT(A) has erred in law and on the facts

LYKA LABS LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 2(2)(1), MUMBAI

In the result, the appeal by the assessee for the assessment years 2010-

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

u/s 271(1)(c) of the Act despite the show cause notice was invalid. The action is unjustified and unwarranted as the issue is covered by the decision of jurisdictional high court in case of Mohd Farhan Shaikh and Goa Coastal Resorts and Recreation Pvt. Ltd. 2. The Ld. CIT(A) has erred in law and on the facts

LYKA LABS LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 2(2)(1), MUMBAI

In the result, the appeal by the assessee for the assessment years 2010-

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

u/s 271(1)(c) of the Act despite the show cause notice was invalid. The action is unjustified and unwarranted as the issue is covered by the decision of jurisdictional high court in case of Mohd Farhan Shaikh and Goa Coastal Resorts and Recreation Pvt. Ltd. 2. The Ld. CIT(A) has erred in law and on the facts

M.LAKHAMSI& CO. ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX 17(1), MUMBAI

In the result, the appeal of the assessee is allowed

113 (Mumbai)/(2017) 187 TTJ 233 (Mumbai Tribunal) that\nmere non-ticking of the relevant clause in notice would not invalidate\nthe penalty proceedings.The ld.DR submitted that from the quantum\norder it is seen that the AO clearly initiated the penalty proceedings,\nafter due deliberation, for furnishing of inaccurate particulars which\nshows due application of mind qua penalty proceedings. Section

CIFCO FINANCE LTD,MUMBAI vs. ACIT (OSD-II) CR 7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

271 (1) © of the income tax act, 1961 levied by the learned assessing officer as per order dated 29/6/2011 was confirmed. Therefore assessee is aggrieved and in appeal before us. Page 39 of 50 107. We find that the learned assessing officer has levied penalty with respect to the several disallowances made in the order u/s

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

271 (1) © of the income tax act, 1961 levied by the learned assessing officer as per order dated 29/6/2011 was confirmed. Therefore assessee is aggrieved and in appeal before us. Page 39 of 50 107. We find that the learned assessing officer has levied penalty with respect to the several disallowances made in the order u/s

ACIT (OSD-II) CENT. RG. - 7, MUMBAI vs. M/S. CIFCO FINANCE LTD., MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

271 (1) © of the income tax act, 1961 levied by the learned assessing officer as per order dated 29/6/2011 was confirmed. Therefore assessee is aggrieved and in appeal before us. Page 39 of 50 107. We find that the learned assessing officer has levied penalty with respect to the several disallowances made in the order u/s

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

271 (1) © of the income tax act, 1961 levied by the learned assessing officer as per order dated 29/6/2011 was confirmed. Therefore assessee is aggrieved and in appeal before us. Page 39 of 50 107. We find that the learned assessing officer has levied penalty with respect to the several disallowances made in the order u/s

CIFCO FINANCE LTD,MUMBAI vs. DCIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

271 (1) © of the income tax act, 1961 levied by the learned assessing officer as per order dated 29/6/2011 was confirmed. Therefore assessee is aggrieved and in appeal before us. Page 39 of 50 107. We find that the learned assessing officer has levied penalty with respect to the several disallowances made in the order u/s

CIFCO FINANCE LTD,MUMBAI vs. ASST CIT (OSD-II) CIR 7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

271 (1) © of the income tax act, 1961 levied by the learned assessing officer as per order dated 29/6/2011 was confirmed. Therefore assessee is aggrieved and in appeal before us. Page 39 of 50 107. We find that the learned assessing officer has levied penalty with respect to the several disallowances made in the order u/s