RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

D E R Per Arun Khodpia, AM: The captioned appeals are instituted at the instance of assessee, challenging the common order passed by ld. Commissioner of Income Tax (Appeals)-47, Mumbai (for short “ld. CIT(A)”), dated 23.02.2024 for the Assessment Years (AY) 2008-09 to AY 2014-15, which in turn arises from the order passed u/s 271

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

D E R Per Arun Khodpia, AM: The captioned appeals are instituted at the instance of assessee, challenging the common order passed by ld. Commissioner of Income Tax (Appeals)-47, Mumbai (for short “ld. CIT(A)”), dated 23.02.2024 for the Assessment Years (AY) 2008-09 to AY 2014-15, which in turn arises from the order passed 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

D E R PER PRABHASH SHANKAR [A.M.] :- The present appeal arising from the appellate order dated 04.09.2025 is filed by the assessee against the order passed by the Learned Commissioner of Income-tax, Appeal, CIT(A)-56, Mumbai [hereinafter referred to as “CIT(A)”] pertaining to the penalty order passed u/s. 271(1)(c) of the Income

ARTI SHAILEN TOPIWALA,ANDHERI WEST, MUMBAI vs. ITO, WARD 34(1)(1), MUMBAI, BKC, BANDRA EAST, MUMBAI

In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for statisti...

Bench: Shri Sandeep Gosain () & Om Prakash Kant () Ita No. 4383 & 4384/Mum/2025 Assessment Year: 2013-14 Arti Shailen Topiwala Ito, Ward 34(1)(1), Mumbai B-701, Parimal Apartment, C.D. Income Tax Appellate Barfiwala Road, Andheri West, Vs. Tribunal, Mumbai- 400058 Mumbai- 400020 Pan No. Aacpt 3505 D Appellant Respondent

u/s 271(1)(c) of the Act. The grounds raised by the assessee in its raised by the assessee in its appeal are reproduced as under: appeal are reproduced as under: “1. On the facts and circumstances of the case and in law, the 1. On the facts and circumstances of the case and in law, the 1

ARTI SHAILEN TOPIWALA,ANDHERI WEST, MUMBAI vs. ITO, WARD 34(1)(1), MUMBAI, BKC, BANDRA EAST, MUMBAI

In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for In the result both the appeals of the assessee are allowed for statisti...

Bench: Shri Sandeep Gosain () & Om Prakash Kant () Ita No. 4383 & 4384/Mum/2025 Assessment Year: 2013-14 Arti Shailen Topiwala Ito, Ward 34(1)(1), Mumbai B-701, Parimal Apartment, C.D. Income Tax Appellate Barfiwala Road, Andheri West, Vs. Tribunal, Mumbai- 400058 Mumbai- 400020 Pan No. Aacpt 3505 D Appellant Respondent

u/s 271(1)(c) of the Act. The grounds raised by the assessee in its raised by the assessee in its appeal are reproduced as under: appeal are reproduced as under: “1. On the facts and circumstances of the case and in law, the 1. On the facts and circumstances of the case and in law, the 1

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

D E R PER PRABHASH SHANKAR [A.M.] :- The present appeals preferred by the Revenue and Cross Objections of the assessee emanate from the order passed by the Learned Commissioner of Income-tax, Appeal, CIT(A) 49, Mumbai [hereinafter referred to as “CIT(A)”] pertaining to penalty order u/s. 271(1)(c) of the Income-tax Act, 1961 [hereinafter referred

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

In the result, both the Cross appeals no

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

D E R PER PRABHASH SHANKAR [A.M.] :- The present appeals preferred by the Revenue and Cross Objections of the assessee emanate from the order passed by the Learned Commissioner of Income-tax, Appeal, CIT(A) 49, Mumbai [hereinafter referred to as “CIT(A)”] pertaining to penalty order u/s. 271(1)(c) of the Income-tax Act, 1961 [hereinafter referred

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

271(1)(c) Expl 5A held that even where\nsubsequent to search, assessee voluntarily disclosed a sum\nand offered said sum to tax, since said amount was not\ndisclosed in original return, penalty levied under section\n271(1)(c) was justified.\nHon'ble Supreme Court has upheld the decision of Hon'ble\nHigh Court in the above case.\n9.9

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

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

271(1)(c) Expl 5A held that even where\nsubsequent to search, assessee voluntarily disclosed a sum\nand offered said sum to tax, since said amount was not\ndisclosed in original return, penalty levied under section\n271(1)(c) was justified.\nHon'ble Supreme Court has upheld the decision of Hon'ble\nHigh Court in the above case.\n9.9

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

271(1)(c) Expl 5A held that even where\nsubsequent to search, assessee voluntarily disclosed a sum\nand offered said sum to tax, since said amount was not\ndisclosed in original return, penalty levied under section\n271(1)(c) was justified.\nHon'ble Supreme Court has upheld the decision of Hon'ble\nHigh Court in the above case.\n9.9

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

INCOME TAX OFFICER- 23(3)(1), MUMBAI, MUMBAI vs. TISYA JEWELS, MUMBAI

In the result, both the appeals of the Revenue are accordingly partly allowed

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5Th Floor, Piramal Chambers, Vs. Waterfield Road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 Pan No. Aadft 8056 G Appellant Respondent Assessee By : Mr. Nishit Gandhi A/W Ms. Aadnya Bhandari Revenue By : Mr. Hemanshu Joshi, Cit-Dr

u/s 271(1)(c) of the Act on an estimated income/additions... What follows from the above discussion is that where income is estimated or disallowance of expenses is made on estimate basis, there can be no penalty. The raison d'etre for nonimposition of penalty in both the situations is that there is lack of precision as to concealment

INCOME TAX OFFICIER- 23(3)(1), MUMBAI, MUMBAI vs. TISYA JEWELS, MUMBAI

In the result, both the appeals of the Revenue are accordingly partly allowed

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5Th Floor, Piramal Chambers, Vs. Waterfield Road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 Pan No. Aadft 8056 G Appellant Respondent Assessee By : Mr. Nishit Gandhi A/W Ms. Aadnya Bhandari Revenue By : Mr. Hemanshu Joshi, Cit-Dr

u/s 271(1)(c) of the Act on an estimated income/additions... What follows from the above discussion is that where income is estimated or disallowance of expenses is made on estimate basis, there can be no penalty. The raison d'etre for nonimposition of penalty in both the situations is that there is lack of precision as to concealment

ILA JITENDRA MEHTA,MUMBAI vs. DCIT CENTRAL CIRCLE 8(4), MUMBAI

In the result, the appeal of the Assessee is allowed

Bench: Shri Narender Kumar Choudhry & Smt Renu Jauhriassessment Year: 2014-15

D E R Per : Narender Kumar Choudhry, Judicial Member: This appeal has been preferred by the Assessee against the order dated 06.08.2024, impugned herein, passed by the Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) under section 250 of the Income Tax Act, 1961 (in short ‘the Act’) for the A.Y. 2014-15. 2 Ms. Ila Jitendra Mehta

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 ()

u/s 271(1)(c) of the Act levied based on estimated addition of the Act levied based on estimated addition of bogus purchases is unsustainable. The assessing officer is of bogus purchases is unsustainable. The assessing officer is of bogus purchases is unsustainable. The assessing officer is directed to delete the penalty. The grounds of appeals are directed