M/S. UNITED PHOSPHORUS LTD(NOW KNOWN AS UNIPHOS ENTERPRISES LTD),MUMBAI vs. THE DCIT CEN CIR-38, MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

ASST CIT CC 38, MUMBAI vs. UNIPHOS ENTERPRISES LTD, MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

ADDL CIT CEN RG IX, MUMBAI vs. UNIPHOS ENTERPRISES LTD ( FORMLERY KNOWN AS UNITED PHOSPHORUS LTD), MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

THE ACIT CC-38, MUMBAI vs. M/S. UNITED PHOSPHOROUS LTD, MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

UNIPHOS ENTERPRISES LTD,MUMBAI vs. ADDL CIT CEN RG IX, MUMBAI

In the result, the appeal of assessee is allowed

penalty levied u/s 271(1)(c))\nACIT, CC-38, Room no.\nVs.\nM/s. United Phosphorous Ltd.\n32(1), Ayakar Bhavan,\nUniphos House, Madhu Park,\nMaharishi Karve Rd.,\n11th Road, Khar (W), Mumbai.\nMumbai-400020.\nPAN: AAACU 3440 P\n(Appellant)\n(Respondent)\nAssessee by\nMs. Vasanti Patel Advocate\nRevenue by\nShri. Kiran Unavekar, Sr. DR\nDate of Hearing\n18/03/2025\nDate

MS. KRISHNA FASHION WORLD,CHEMBUR vs. INCOME TAX OFFICER, MUMBAI

In the result, all the four appeals are hereby dismissed

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhriआयकर अपील सुं./Ita No. 3270 To 3273/Mum/2024 (नििाारण वर्ा / Assessment Year: 2010-11 To 2013-14) M/S. Krishna Fashion V/S. Income Tax Officer World बिाम Income Tax Officer, Ward 803/804, T-6, Godrej 22(2)(1), Room No. 312, Prime Colony, Sahakar Piramal Chambers, Lalbaug Nagar No.2, Shell Colony, 400012 Chembur, Mumbai 400071 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajfk2799R Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: None राजस्व की ओर से /Revenue By: Shri Ritesh Misra, Cit Dr A/W Shri Hemanshu Joshi, Sr Dr स िवाई की िारीख / Date Of Hearing 10.07.2025 घोर्णा की िारीख/Date Of Pronouncement 22.07.2025

234D of the Income Tax Act, 1961 while framing assessment and passing order dated 31.03.2015 under section 143(3) of the I.T. Act. 1961. Ground No.8: Initiation Of Penalty Provisions In the facts and circumstances of the case, National Faceless Appeal Centre (NFAC) erred in dismissing ground raised by appellant with respect to the initiation of penalty proceedings u/s. 271

KRISHNA FASHION WORLD,CHEMBUR, MUMBAI vs. ITO, MUMBAI

In the result, all the four appeals are hereby dismissed

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhriआयकर अपील सुं./Ita No. 3270 To 3273/Mum/2024 (नििाारण वर्ा / Assessment Year: 2010-11 To 2013-14) M/S. Krishna Fashion V/S. Income Tax Officer World बिाम Income Tax Officer, Ward 803/804, T-6, Godrej 22(2)(1), Room No. 312, Prime Colony, Sahakar Piramal Chambers, Lalbaug Nagar No.2, Shell Colony, 400012 Chembur, Mumbai 400071 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajfk2799R Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: None राजस्व की ओर से /Revenue By: Shri Ritesh Misra, Cit Dr A/W Shri Hemanshu Joshi, Sr Dr स िवाई की िारीख / Date Of Hearing 10.07.2025 घोर्णा की िारीख/Date Of Pronouncement 22.07.2025

234D of the Income Tax Act, 1961 while framing assessment and passing order dated 31.03.2015 under section 143(3) of the I.T. Act. 1961. Ground No.8: Initiation Of Penalty Provisions In the facts and circumstances of the case, National Faceless Appeal Centre (NFAC) erred in dismissing ground raised by appellant with respect to the initiation of penalty proceedings u/s. 271

KRISHNA FASHION WORLD,CHEMBUR, MUMBAI vs. ITO, MUMBAI

In the result, all the four appeals are hereby dismissed

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhriआयकर अपील सुं./Ita No. 3270 To 3273/Mum/2024 (नििाारण वर्ा / Assessment Year: 2010-11 To 2013-14) M/S. Krishna Fashion V/S. Income Tax Officer World बिाम Income Tax Officer, Ward 803/804, T-6, Godrej 22(2)(1), Room No. 312, Prime Colony, Sahakar Piramal Chambers, Lalbaug Nagar No.2, Shell Colony, 400012 Chembur, Mumbai 400071 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajfk2799R Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: None राजस्व की ओर से /Revenue By: Shri Ritesh Misra, Cit Dr A/W Shri Hemanshu Joshi, Sr Dr स िवाई की िारीख / Date Of Hearing 10.07.2025 घोर्णा की िारीख/Date Of Pronouncement 22.07.2025

234D of the Income Tax Act, 1961 while framing assessment and passing order dated 31.03.2015 under section 143(3) of the I.T. Act. 1961. Ground No.8: Initiation Of Penalty Provisions In the facts and circumstances of the case, National Faceless Appeal Centre (NFAC) erred in dismissing ground raised by appellant with respect to the initiation of penalty proceedings u/s. 271

FRANKLIN TEMPLETON INTERNATIONAL SERVICES (INDIA) P.LTD,MUMBAI vs. DCIT CIR 3(1), MUMBAI

In the result, appeals filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

271(1)(c) of the Act. The Appellant prays that the penalty proceedings be dropped in the matter. Ground 3 - Levy of interest under section 234B of the Act - The said ground is consequential in nature 3.1. On the facts and in the circumstances of the case, the learned AO has erred in charging interest

RITA HEMCHAND GANDHI,MUMBAI vs. INCOME TAX OFFICE. INT TAX WARD 2(3)(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Narender Kumar Choudhry, Judicialmember & Shri Girish Agrawalassessment Year: 2015-16

271(1)(c) for taking up penalty proceedings. It is important to take note of the fact that impugned assessment order is dated 03.03.2022 and the penalty show cause notice is dated 30.03.2022, as noted by the Ld. Assessing Officer in the penalty order in paragraph 2. The assessment order reads as under:- “In the instant case, status

M/S. SBI CAPITAL MARKETS LTD.,MUMBAI vs. DCIT CIR. 4(2), MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D

M/S. SBI CAPITAL MARKETS LTD.,MUMBAI vs. DCIT CIR. 4(2), MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D

DCIT CIR. 4(2), MUMBAI vs. M/S. S.B.I CAPITAL MARKETS LTD., MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D

M/S. SBI CAPITAL MARKETS LTD.,MUMBAI vs. CIT (A)-IV, MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D

SBI CAPITAL MARKETS LTD.,MUMBAI vs. DCIT RANGE 4(2), MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D

SBI CAPITAL MARKETS LTD.,MUMBAI vs. JCIT SPECIAL RANGE, MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D

M/S. SBI CAPITAL MARKETS LTD.,MUMBAI vs. DCIT CIR. 4(2), MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D

M/S. SBI CAPITAL MARKETS LTD,MUMBAI vs. THE ACIT CIR 4(2), MUMBAI

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

Section 234D of the Act is not applicable: 51. After hearing both the side and perusal of material on record it is noticed that ld. CIT(A) held that interest u/s 234D cannot be levied on pending assessment where refund has been received before date of insertion of Sec. 234D i.e 01.06.2003. Looking to the provision of Sec. 234D