ANAND RATHI SHARE AND STOCK BROKERS LIMITED ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 5(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

u/s 271FA of the Act for delay in filing the A of the Act for delay in filing the statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, section 271FA of the Act is reproduced as under: e Act is reproduced as under: “[Penalty

ANAND RATHI SHARE AND STOCK BROKERS LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 5(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

u/s 271FA of the Act for delay in filing the A of the Act for delay in filing the statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, section 271FA of the Act is reproduced as under: e Act is reproduced as under: “[Penalty

ANAND RATHI SHARE AND STOCK BROKERS LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 5(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

u/s 271FA of the Act for delay in filing the A of the Act for delay in filing the statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, section 271FA of the Act is reproduced as under: e Act is reproduced as under: “[Penalty

ANAND RATHI SHARE AND STOCK BROKERS LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 5(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

u/s 271FA of the Act for delay in filing the A of the Act for delay in filing the statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, statement of foreign accounts transaction. For ready reference, section 271FA of the Act is reproduced as under: e Act is reproduced as under: “[Penalty

SHYAM KUMAR SADASHIVAN PILLAI,MUMBAI vs. INCOME TAX OFFICER, CIRCLE 27(3)(1), NAVI MUMBAI

In the result, the appeal is allowed

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

u/s 142(1) of the Act vide dated 28-10-2022,22-12-2022, 10-01- 2023 and 25- 01-2023 for the A.Y 2015-16. Demand notice is attached herewith.” 3. Aggrieved the assessee filed further appeal before the CIT(A). The assessee submitted before the CIT(A) that though the first 4 notices were not responded

VISEN INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (TRANSFER PRICING )-4(3)(1), MUMBAI

Appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

u/s 271 G of the IT Act levied by the TPO is confirmed. Accordingly, the grounds of appeal are Dismissed.” 3. The ld. AR submitted that the assessee though did not respond to the first two notices issued by the TPO subsequently responded to the notices and filed all the relevant details before the TPO. The ld. AR further submitted

WEST COAST FINE FOODS (INDIA) PRIVATE LIMITED ,ANDHERI, MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 13(3)(2), AAYKAR BHAWAN, MUMBAI

Appeal of the assessee is allowed

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

u/s 44AB of the Act, by the specified date for the A.Y. 2017-18, despite the appellant having gross receipts of Rs. 212,51,06,142/-. Consequently, the imposition of the penalty of Rs. 1,50,000/- under section 271B is in order, and I find no infirmity in the same.” 4. The ld. AR submitted that

JIGNESH SURESH SHAH,MUMBAI vs. INCOME TAX DEPARTMENT INCOME TAX OFFICER WARD,1,, THANE

Bench: Shri Narender Kumar Choudhry, Jm & Ms Padmavathy S, Am

u/s 271B of the income tax act, 1961 as there was reasonable cause and circumstances beyond applicant's control for the said failure as explained above considering section 2738 of the act.” 7. We heard the ld DR and perused the material on record. The AO reopened the assessment for the reason that the turnover of the assessee as declared

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. ADDL. DIRECTOR OF INCOME TAX (INV), UNIT 7 , MUMBAI

The appeal of the assessee is allowed

Bench: Vikas Awasthy () & Ms. Padmavathy S. ()

u/s 131 of the ACT and the provisions of section 272A(l)(c) are not attracted and AO be further directed to delete the penalty of Rs. 10,0007-. 5. Without prejudice to the above, since the Appellant has not acted deliberately in defiance of law nor was guilty of conduct contumacious or dishonest, or acted in conscious disregard