DCIT(CENTRAL CIRCLE)-7(1), MUMBAI vs. PANTHER INVESTRADE LIMITED, MUMBAI

In the result, both the Cross appeals no

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 271(1)(c) of the Income Tax Act, 1961, merely on technical grounds, without considering the substantive merits of the case, and failed to follow the principles laid down by the Hon’ble Delhi High Court in the following judgments: CIT v. S. S. Suri (2005) 279 ITR 276 CIT v. Zoom Communication

DCIT, CENTRAL CIRCLE - 7(1), MUMBAI , MUMBAI vs. TRIUMPH SECURITIES LTD, MUMBAI

In the result, the appeal of the revenue bearing ITA No

Section 254\nof the Act. in both the paragraphs, the AO had mentioned that the penalty proceedings uls\n271(1)(c) of the Act were being initiated for furnishing inaccurate particulars and concealment\nof income. The AO has stated in paras 2 and 4.1 of the impugned penalty order that the penalty\nproceedings u/s 271

EVEREST KANTO CYLINDER LTD,MUMBAI vs. DCIT CIRCLE 3(4), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rahul Chaudhary & Shri Prabhash Shankareverest Kanto Cylinder V/S. Deputy Commissioner Of Ltd. बनाम Income Tax, Circle – 3(4), 204,Raheja Centre, Free World Trade Centre 1, Cuffe Press Journal Marg, Parade, Mumbai – 400005, Nariman Point, Mumbai – Maharashtra 400 021, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace0836F Appellant/अपीलार्थी .. Respondent/प्रतिवादी

Section 254 of the Act. in both the paragraphs, the AO had mentioned that the penalty proceedings uls 271(1)(c) of the Act were being initiated for furnishing inaccurate particulars and concealment of income. The AO has stated in paras 2 and 4.1 of the impugned penalty order that the penalty proceedings u/s

THE RUBY MILLS LIMITED,MUMBAI vs. DCIT, CIRCLE - 8(3)(1), MUMBAI

In the result, the substantial ground of appeal is allowed

Bench: Shri Pawan Singh & Shri Prabhash Shankar(Physical Hearing) The Ruby Mills Limited Dcit, Circle – 8(3)(1), 11Th Floor, Ruby House A, J.K. Sawant Vs Aayakarbhawan,Mumbai-400020. Marg, Dadar West, Mumbai – 400028. [Pan No. Aaact0220G] Appellant / Assessee Respondent / Revenue

section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by assessee is directed against the order of ld. CIT(A)/ NFAC dated 20.02.2025 for AY 2012-13. The assessee has following grounds of appeal: 1. On the facts and in the circumstances of the appellant company's case and in law, the Ld. Commissioner

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

In the result, the appeal of the assessee is allowed

Section 254 of the Act. in both the paragraphs, the AO had mentioned\nthat the penalty proceedings uls 271(1)(c) of the Act were being initiated for\nfurnishing inaccurate particulars and concealment of income. The AO has\nstated in paras 2 and 4.1 of the impugned penalty order that the penalty\nproceedings u/s

SHRI NARENDRA S SHAH,MUMBAI vs. DCIT, CC- 2(2), , MUMBAI

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 201(1) of the Act. The ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for statistical purposes. statistical purposes. Shri Narendra S Shah ITA Nos. 2005 to 2007/M/ 2004/M/2004

SHRI NARENDRA S SHAH,MUM vs. DCIT, CC-2(2), , MUM

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 201(1) of the Act. The ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for statistical purposes. statistical purposes. Shri Narendra S Shah ITA Nos. 2005 to 2007/M/ 2004/M/2004

SHRI NARENDRA S SHAH,MUM vs. DCIT, CC-2(2),, MUM

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 201(1) of the Act. The ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for statistical purposes. statistical purposes. Shri Narendra S Shah ITA Nos. 2005 to 2007/M/ 2004/M/2004

SHRI NARENDRA S SHAH ,MUMBAI vs. DCIT, CEN CIR-(2), , MUMBAI

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 201(1) of the Act. The ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for statistical purposes. statistical purposes. Shri Narendra S Shah ITA Nos. 2005 to 2007/M/ 2004/M/2004

DCIT, CC-2(2), , MUM vs. SHRI NARENDRA S SHAH, MUM

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 201(1) of the Act. The ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for statistical purposes. statistical purposes. Shri Narendra S Shah ITA Nos. 2005 to 2007/M/ 2004/M/2004

DCIT, CC-2(2),, MUM vs. SHRI NARENDRA S SHAH, MUMBAI

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 201(1) of the Act. The ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for statistical purposes. statistical purposes. Shri Narendra S Shah ITA Nos. 2005 to 2007/M/ 2004/M/2004

SHRI NARENDRA S SHAH,MUMBAI vs. DCIT, CC-2(2),, MUMBAI

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 201(1) of the Act. The ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for ground No. 2 of the appeal of the assessee is accordingly allowed for statistical purposes. statistical purposes. Shri Narendra S Shah ITA Nos. 2005 to 2007/M/ 2004/M/2004

MUKON CONSTRUCTION PRIVATE LIMITED,MUMBAI vs. ACIT CIRCLE 7(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Section 254 of the Act. in both the paragraphs, the AO had mentioned\nthat the penalty proceedings uls 271(1)(c) of the Act were being initiated for\nfurnishing inaccurate particulars and concealment of income. The AO has\nstated in paras 2 and 4.1 of the impugned penalty order that the penalty\nPage 9\nITA No. 1152/Mum/2025\nA.Y

KAMINI KRISHNA KOTAK ,MUMBAI vs. ADDITIONAL / JOINT / DEPUTY / ASSISTANT COMMISSIONER OF INCOME TAX, DELHI

The appeals are allowed while Ground No

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

254 of the Act, the penalty proceedings were initiated for furnishing inaccurate particulars of income. The relevant extract of the aforesaid assessment order reads as under: “9. As the assessee had not disclosed income correctly in the return of income, as discussed above, penalty proceedings under Section 271(1)(c) of the I.T.Act, 1961 is initiated separately for furnishing inaccurate

ANJALI NEERAJ HARDIKAR ,PUNE vs. PCIT (CENTRAL), MUMBAI-3, MUMBAI

In the result, the appeal filed by the assessee stands dismissed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankaranjali Neeraj Hardikar Vs. Pcit (Central) E/3, Vibhawari Apartments, 1901, 19Th Floor, Air Sahwas Society, Lane No.1, India Bldg, Nariman Karve Nagar – 411052. Point, Maharashtra – 400021. Pan/Gir No. Aafph0320K (Applicant) (Respondent)

254 dated 18.12.2019 it was specifically that penalty 8 Anjali Neeraj Hardikar, Mumbai proceedings u/s 271(1)(c) of the IT Act initiated dated 27/03/2014 which were kept in abeyance till the disposal of the appeal by Hon'ble Tribunal by the then AO was revived by virtue of provisions of section

ASSISTANT COMMISSIONER OF INCOME TAX, MUMBAI vs. NEVALES NETWORKS PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhailassessment Year : 2013-14 Dcit, Circle-14(1)(1), M/S. Nevales Networks Pvt. Ltd., Room No. 432, 4Th Floor, The Capital, Aayakar Bhavan, Vs. Level 7, Plot-C70, M.K.Road, G Block, Mumbai-400020. Bandra Kurla Complex, Bandra (East), Mumbai-400051. Pan : Aadcn1748A (Appellant) (Respondent) Assessee By : Shri Piyush Chhajed Revenue By : Shri Leyaqat Ali Aafaqui

u/s. 271(1)(c) on disallowance of Rs. 48,30,254/-us. 438 of the Income Tax Act, 1961" The Hon'ble Court held that the ambiguity with regard to the year of allowability of expenses for such a transition period should not be adversely viewed for the purpose of levy of penalty and more over all the particulars

BIPIN PRANJIVANDAS SHAH,MUMBAI vs. ITO WARD 27(1)(1), NAVI MUMBAI

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri Amarjit Singh & Shri Raj Kumar Chauhan

section 271 (1) (c) of the Act would be applicable only where the assessee has concealed the particulars of his income or furnished inaccurate particulars of such income. However, the estimation of higher rate of profits by the AO cannot be termed as either concealment of income or furnishing of inaccurate particulars of income. ITA No. 1661 & 1660/Mum/2024 Bipin Pranjivandas

CONWOOD CONSTRUCTION AND DEVELOPERS PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE - 1(4), MUMBAI

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

section 254(1) of Income Tax Act PER ARUN KHODPIA, ACCOUNTANT MEMBER: The captioned appeal is filed by the assessee against the orders of CIT(A)/NFAC – 47, Mumbai dated 27.05.2025 for the Assessment Year 2015-16, which in term arises from the order u/s 270(1) (c) of the Income Tax Act, 1961 (in short ‘the Act’) dated