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

RAJNISH BHARTI HUF,MUMBAI vs. THE INCOME TAX OFFICER 20(3)(1), MUMBAI , LALBAUG, MUMBAI

In the result, both the appeals of the In the result, both the appeals of the assessee are dismissed assessee are dismissed whereas appeals of the Revenue are allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

u/s 148 is not illegal and bad in law. Therefore, notice issued u/s 148 is not illegal and bad in law. Therefore, notice issued u/s 148 is not illegal and bad in law. Therefore, it is very clear that the notice issued u/s 148 is Therefore, it is very clear that the notice issued u/s 148 is Therefore

RAJNISH BHARTI HUF,MUMBAI vs. THE INCOME TAX OFFICER 20(3)(1), MUMBAI, LALBAUG, MUMBAI

In the result, both the appeals of the In the result, both the appeals of the assessee are dismissed assessee are dismissed whereas appeals of the Revenue are allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

u/s 148 is not illegal and bad in law. Therefore, notice issued u/s 148 is not illegal and bad in law. Therefore, notice issued u/s 148 is not illegal and bad in law. Therefore, it is very clear that the notice issued u/s 148 is Therefore, it is very clear that the notice issued u/s 148 is Therefore

NSE IT LTD,MUMBAI vs. DCIT 8(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.5935/Mum/2014 (नििाारण वर्ा / Assessment Year: 2005-06) बिाम/ M/S. Nse. It Ltd, Dcit 8(2), Mumbai Trade Globe, Ground Floor, Andheri Kurla Road, V. Andheri (E), Mumbai 400059 स्थायी ऱेखा सं./ Pan : Aabcn0159P (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

penalty u/s 271(1)(c) rather in the instant case on coming to know of the inadmissibility of the said claim of set off by virtue of Section 47(v), the assessee itself disallowed the said claim before being confronted by the Revenue while filing return of income in pursuance to notice u/s 148

SURINCO WORKWEAR P. LTD,MUMBAI vs. ITO 8(3)(2), MUMBAI

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1290/Mum/2017 (नििाारण वर्ा / Assessment Year : 2009-10 बिाम/ M/S. Surinco Workwear Ito 8(3)(2) Private Ltd., R.No. 412, 36, Marol Industrial Aayakar Bhavan, V. Estate, Mumbai 400021 M. Vasanji Road, Andheri (E), Mumbai-400 059 स्थायी ऱेखा सं./ Pan: Aaacs5694K (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Ms. Heena Sheth Revenue By: Shri. O.P Meena (Dr) सुनवाई की तारीख /Date Of Hearing : 04.02.2019 घोषणा की तारीख /Date Of Pronouncement : 01.05.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 1290/Mum/2017, Is Directed Against Appellate Order Dated 01.11.2016 In Appeal No. Cit(A)-18/It-126/Ito-8(3)(2)/14-15, Passed By Learned Commissioner Of Income Tax(Appeals)-18, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2009-10, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Penalty Order Dated 28.03.2014 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 271(1)(C) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2009- 10. I.T.A. No.1290/Mum/2017

section 271(1)(c) of the Act. The penalty levied by lower authorities is therefore ordered to be deleted. 5. In the result, the appeal of the assessee is hereby allowed.” 13 | P a g e I.T.A. No.1290/Mum/2017 Thus, tribunal in assessee‟s own case for AY 2003-04 was pleased to delete penalty u/s 271(1)(c) by holding

AJAY MULTI PROJECTS PRIVATE LIMITED,MUMBAI vs. DCIT, CIRCLE 4(1)(1), MUMBAI, AAYKAR BHAWAN, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2016-17 Ajay Multi Projects Pvt. Ltd., Dcit, Circle-4(1)(1), 2Nd Floor, C.J. House, 285 Aayakar Bhavan, Vs. Princess Street, Marine Lines, Mumbai-400020. Mumbai-400002. Pan No. Aadca 0338 H Appellant Respondent

penalty proceedings u/s. 271(1)(c) of the Act. 10. The Ld. CIT(A) has erred in confirming the levy of interest Ld. CIT(A) has erred in confirming the levy of interest Ld. CIT(A) has erred in confirming the levy of interest u/s. 234A, 234B, 234C and 234D u/s. 234A, 234B, 234C and 234D of the Act. Ajay

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

M/S FLEMMINGO TRAVEL RETAIL LTD.(FORMERLY KNOWN AS DFS INDIA P. LTD.),MUMBAI vs. DCIT - 9 (3) (2), MUMBAI

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri G. Manjunatha & Shri Ravish Soodm/S Flemingo Travel Retail Dcit –9(3)(2) Room No. 418, 4Th Floor, Limited (Formerly Known As Dfs India Pvt. Ltd.), Chhatrapati Shivaji Aayakar Bhavan, M.K. Road, International Airport, New Vs. Mumbai 400020 Terminal 2, Csi Airport, Sahar, Mumbai. Pan – Aaccd7412N (Appellant) (Respondent)

section 148.‖ M/s Flemingo Travel Retail Ltd. Vs. DCIT- 9(3)(2), Mumbai ITA No. 1197/Mum/2020 - A.Y 2014-15 17 On the basis of the aforesaid amendment, w.e.f Asst. Year 2016-17, even in a case where there are certain additions/disallowances under the normal provisions of the Act, penalty u/s 271

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)

148 along with reason for reopening. When the assessee was not in a position to substantiate the above purchase, at the same time assessing officer issued show cause notice under section 133(6) of the Act and the notices were returned unserved. Accordingly assessing officer treated the above bogus purchases as income of the assessee. 4. Subsequently penalty proceedings were

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 ()

148 of the Act. I proceed to decide the issue on merits. issue on merits. 9.1. The amounts in question are two credit entries of Rs 9.1. The amounts in question are two credit entries of Rs 9.1. The amounts in question are two credit entries

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 ()

148 of the Act. I proceed to decide the issue on merits. issue on merits. 9.1. The amounts in question are two credit entries of Rs 9.1. The amounts in question are two credit entries of Rs 9.1. The amounts in question are two credit entries

RHEAL SOFTWARE P.LTD,MUMBAI vs. DCIT 8(3), MUMBAI

In the result, the appeal is partly allowed

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2011-12 Rheal Software Pvt. Ltd., Dy. Cit-8(3), Mumbai. 901, Premium Tower, Vs. Lokhandwala Complex, Andheri (W), Mumbai-400053. Pan No. Aabcr8008B Appellant Respondent

penalty where post notice u/s 148, the assessee included in its return certain income and paid taxes voluntarily and such return was regularized by the AO. It is stated by the Ld. counsel that in the present case, the Department has not invoked Explanation 1 to section 271

HEMAL MAGANLAL SHAH,MUMBAI vs. CIT (A) NFAC, DELHI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Aby T Varkey & Shri Gagan Goyalhemal Maganlal Shah 84, 4Th Floor, Pankaj-B, Lbs Road, Ghatkopar (W), Mumbai-400086. Pan: Amfps8271G ...... Appellant Vs. The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Mumbai. ..... Respondent Appellant By : Sh. H.M. Shah Respondent By : Sh. Prasoon Kabra Date Of Hearing : 17/05/2022 Date Of Pronouncement : 10/08/2022 Order Per Gagan Goyal, A.M:

Penalty U/s. 271(1) (c) cannot be levied and assessee pleads that there is neither "Concealment' nor 'furnishing of inaccurate particulars' by him. The assessee also relies on following decisions of various High Courts to put weight that he has not concealed the Income. Judicial Pronouncements: 1. Surat Fashions Ltd. vs. ACIT [2011-ITRV-ITAT-AHD-124] 2. Narayansingh

SAI SAMARTH ENTERPRISES,MUMBAI vs. DCIT , CC- 1 , THANE

In the result, the appeals filed by the assessee are hereby allowed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 3718/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No. 3720/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2011-12) & आयकर अपील सं/ I.T.A. No. 3721/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) बिधम/ M/S. Sai Samarth Enterprises Dcit-Central Circle-1, 107, Patel Building, Parel, Thane. Vs. Mumbai. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abufs9008B (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Suchek Anchaliya Revenue By: Shri T. S. Khalsa (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 04/03/2021 घोषणा की तारीख /Date Of Pronouncement: 24/05/2021 आदेश / O R D E R Per Amarjit Singh, (Jm): The Assessee Has Filed The Above Mentioned Appeals Against The Order Dated 29.03.2018 Passed By The Commissioner Of Income Tax (Appeals)- 11, Pune [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Ys. 2010-11, 2011-12, 2012-13 In Which The Penalty Levied By The Ao Has Been Ordered To Be Confirmed.

u/s 153 r.w.s 153C of the Act. In the case of Kirit Dahyabhai Patel Vs. ACIT (2017) 80 taxmann.com 162 (Guj). The following finding has been given as under.:- “8. We have heard learned advocates for the parties and perused the material on record. Before dealing with the contentions, it would be relevant to reproduce Explanation 5 to Section 271