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 ()

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

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

section 271(1)(c) of the Act are fulfilled. In view of\nthe above, the penalty in respect of interest and the excess\ndepreciation is also cancelled. The relevant grounds of the appeal of\nthe assessee are allowed.\n8. The grounds in respect of assessment year 2015-16 are\nreproduced as under:\n1. On the facts and circumstances

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

section 271(1)(c) of the Act are fulfilled. In view of\nthe above, the penalty in respect of interest and the excess\ndepreciation is also cancelled. The relevant grounds of the appeal of\nthe assessee are allowed.\n8. The grounds in respect of assessment year 2015-16 are\nreproduced as under:\n1. On the facts and circumstances

PRIORITY JEWELS PRIVATE LIMITED,MUMBAI vs. COMMISSIONER OF INCOME TAX (A), APPEALS

In the result, the appeal of the assessee bearing ITA 3196/Mum/2024 is\nallowed

246 or section\n246A or an appeal to the Appellate Tribunal under section 253 or an appeal to\nthe High Court under section 260A or an appeal to the Supreme Court under\nsection 261 or revision under section 263 or section 264 and an order imposing or\nenhancing or reducing or cancelling penalty or dropping the proceedings for the\nimposition

THE DCIT-1(3)(1) MUMBAI, MUMBAI vs. M/S FERN INFRASTRUCTURE PVT LTD, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

u/s 271(1)(c)-Assessee, by mistake claimed a deduction in respect of provision towards payment of gratuity in its return of income, even though Tax Audit Report Indicated that such provision was not allowable- AO initiated penalty on assessee for concealing income- Held, fact that Tax Audit Report was filed along with the return and that it unequivocally stated

RAJU MOHAN GURNANI,NAVI MUMBAI vs. INCOME TAX OFFICER, CENTRAL CIRCLE 5(2), MUMBAI

In the result, all three appeals of the assessee are allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सं./Ita No. 246/Mum/2025 (निर्धारण वर्ा / Assessment Year :2014-15) आयकर अपील सं./Ita No. 247/Mum/2025 (निर्धारण वर्ा / Assessment Year :2015-16) आयकर अपील सं./Ita No. 248/Mum/2025 (निर्धारण वर्ा / Assessment Year :2016-17) Raju Mohan Gurnani V/S. Ito, Central Circle 5(2) बिधम Flat No. 2101, Moraj Casa Room No. 427, 4Th Floor, Grande, Plot No. 57, Sector Kautilya Bhavan, Bandra 17, Koperkhairne Kurla Complex, Bandra Maharashtra-410209 East, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aalpg9103B Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: None रधजस्व की ओर से /Revenue By: Shri R. R. Makwana

271(1)(c) of the Act. 8. We have heard the rival submissions. At the outset, it is seen from the copy of notice u/s 274 issued by the Ld. AO placed before us that he has not P a g e | 9 ITA No. 246, 247 & 248/Mum/2025 A.Y. 2014-15, 2015-16, 2016-17 Raju Mohan Gurnani specified

RAJU MOHAN GURNANI,NAVI MUMBAI vs. INCOME TAX OFFICER, CENTRAL CIRCLE 5(2), MUMBAI

In the result, all three appeals of the assessee are allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सं./Ita No. 246/Mum/2025 (निर्धारण वर्ा / Assessment Year :2014-15) आयकर अपील सं./Ita No. 247/Mum/2025 (निर्धारण वर्ा / Assessment Year :2015-16) आयकर अपील सं./Ita No. 248/Mum/2025 (निर्धारण वर्ा / Assessment Year :2016-17) Raju Mohan Gurnani V/S. Ito, Central Circle 5(2) बिधम Flat No. 2101, Moraj Casa Room No. 427, 4Th Floor, Grande, Plot No. 57, Sector Kautilya Bhavan, Bandra 17, Koperkhairne Kurla Complex, Bandra Maharashtra-410209 East, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aalpg9103B Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: None रधजस्व की ओर से /Revenue By: Shri R. R. Makwana

271(1)(c) of the Act. 8. We have heard the rival submissions. At the outset, it is seen from the copy of notice u/s 274 issued by the Ld. AO placed before us that he has not P a g e | 9 ITA No. 246, 247 & 248/Mum/2025 A.Y. 2014-15, 2015-16, 2016-17 Raju Mohan Gurnani specified

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

In the result, all three appeals of the assessee are allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सं./Ita No. 246/Mum/2025 (निर्धारण वर्ा / Assessment Year :2014-15) आयकर अपील सं./Ita No. 247/Mum/2025 (निर्धारण वर्ा / Assessment Year :2015-16) आयकर अपील सं./Ita No. 248/Mum/2025 (निर्धारण वर्ा / Assessment Year :2016-17) Raju Mohan Gurnani V/S. Ito, Central Circle 5(2) बिधम Flat No. 2101, Moraj Casa Room No. 427, 4Th Floor, Grande, Plot No. 57, Sector Kautilya Bhavan, Bandra 17, Koperkhairne Kurla Complex, Bandra Maharashtra-410209 East, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aalpg9103B Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: None रधजस्व की ओर से /Revenue By: Shri R. R. Makwana

271(1)(c) of the Act. 8. We have heard the rival submissions. At the outset, it is seen from the copy of notice u/s 274 issued by the Ld. AO placed before us that he has not P a g e | 9 ITA No. 246, 247 & 248/Mum/2025 A.Y. 2014-15, 2015-16, 2016-17 Raju Mohan Gurnani specified

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

section 271(1)(c) of the Act are fulfilled. In view of\nthe above, the penalty in respect of interest and the excess\ndepreciation is also cancelled. The relevant grounds of the appeal of\nthe assessee are allowed.\n8. The grounds in respect of assessment year 2015-16 are\nreproduced as under:\n1. On the facts and circumstances

DCIT 3(1), MUMBAI vs. ICICI BANK LTD, MUMBAI

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2003-04

246 ITR 218 (Ker), K.P.Madhusudan vs. CIT 251 ITR 99 (SC) and UOI Vs. Dharmendra Textiles Processors (2008) 14 DTR judgements relied on by the AO is distinguishable from the case of the appellant. 5.6 In view of the ratio laid down in the judgements mentioned at para 5.2, 5.3 & para 5.4 here-in-above the penalty of Rs.21

HIGH VOIT ELECTICALS P LTD ,MUMBAI vs. INCOME TAX OFFICER WARD -1 , PALGHAR

In the result, the appeal is dismissed

Bench: Shri Sandeep Gosain & Shri Omkareshwar Chidara

246 ITR 218. Considering the effect of the addition of the Explanation to section 271(1) of the Act and the amendment to section 271(1)(c) 9 High Voit Electicals, Mumbai. of the Act by deletion of the word "deliberately", the Hon'ble Kerala High Court came to the conclusion that whether penalty was liable to be imposed

HIGH VOIT ELECTICALS P LTD ,MUMBAI vs. INCOME TAX OFFICER WARD -1 , PALGHAR

In the result, the appeal is dismissed

Bench: Shri Sandeep Gosain & Shri Omkareshwar Chidara

246 ITR 218. Considering the effect of the addition of the Explanation to section 271(1) of the Act and the amendment to section 271(1)(c) 9 High Voit Electicals, Mumbai. of the Act by deletion of the word "deliberately", the Hon'ble Kerala High Court came to the conclusion that whether penalty was liable to be imposed

HIGH VOIT ELECTICALS P LTD ,MUMBAI vs. INCOME TAX OFFICER WARD -1 , PALGHAR

In the result, the appeal is dismissed

Bench: Shri Sandeep Gosain & Shri Omkareshwar Chidara

246 ITR 218. Considering the effect of the addition of the Explanation to section 271(1) of the Act and the amendment to section 271(1)(c) 9 High Voit Electicals, Mumbai. of the Act by deletion of the word "deliberately", the Hon'ble Kerala High Court came to the conclusion that whether penalty was liable to be imposed

HIGH VOIT ELECTICALS P LTD,MUMBAI vs. INCOME TAX OFFICER WARD -1 , PALGHAR

In the result, the appeal is dismissed

Bench: Shri Sandeep Gosain & Shri Omkareshwar Chidara

246 ITR 218. Considering the effect of the addition of the Explanation to section 271(1) of the Act and the amendment to section 271(1)(c) 9 High Voit Electicals, Mumbai. of the Act by deletion of the word "deliberately", the Hon'ble Kerala High Court came to the conclusion that whether penalty was liable to be imposed

ASST. COMMISSIONER OF INCOME TAX 8(2)(1), MUMBAI, MUMBAI vs. PIRAMAL ENTERPRISES LIMITED, MUMBAI

In the result, the cross-objection of the assessee is allowed\nwhereas appeal of the Revenue is dismissed

246/- under the normal provisions of the Act and\nRs.1,98,56,14,437/- u/s 115JB of the Act. The return of income\nfiled by the assessee was selected for scrutiny and the Assessing\nOfficer passed assessment order u/s 143(3) of the Act on\n27.12.2007 wherein he assessed the total income at\nRs.1,07,32,57,650/- under normal

LIKHAMARAM,MUMBAI vs. ITO WARD 19(1)(5), MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Shri Sandeep Gosain& Shri Prabhash Shankar

246 or section 246A or an appeal to the Appellate Tribunal under section 253 or an appeal to the High Court under section 260A or an appeal to the Supreme Court under section 261 or revision under section 263 or section 264 and an order imposing or enhancing or reducing or cancelling penalty or dropping the proceedings for the imposition

UNITED PHOSPORUS LTD ( NOW KNOWN AS UNIPHOS ENTERPRISES LTD),MUMBAI vs. DCIT CEN CIR 38, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

penalty u/s 271(1)(c) is initiated 7. Aggrieved assessee preferred appeal before Ld. CIT(A) and filed detailed submissions. After considering the submissions of the assessee ITA.NO. 3251/MUM/2009 2516/MUM/2010 8375 & 8387/MUM/2011 United Phosphorous Ltd Ld. CIT(A) rejected the submission of the assessee and sustained the action of the Assessing Officer. The observation