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 ()

u/s 271 read with s. 274 of the Act." with s. 274 of the Act." (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom Communication Pvt. Ltd. vide

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 ()

u/s 271 read with s. 274 of the Act." with s. 274 of the Act." (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom Communication Pvt. Ltd. vide

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 ()

u/s 271 read with s. 274 of the Act." with s. 274 of the Act." (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom Communication Pvt. Ltd. vide

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 ()

u/s 271 read with s. 274 of the Act." with s. 274 of the Act." (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom (ix) Further the Delhi High Court in the case of CIT Vs Zoom Communication Pvt. Ltd. vide

DCIT, CC-7(1), MUMBAI vs. M/S MANEESH PHARMACEUTICALS LTD., MUMBAI

section 274 r.w.s. 271 dated 31.03.2002 without specifying the charge brought against the appellants that is, whether it was for concealment of particulars of income or for furnishing of inaccurate particulars of income. I find from the notice issued u/s 274 r.w.s. 271 of the Act that the AO did not strike off one of the two limbs of penalty

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

penalty proceedings u/s 271(1){c} of the Act qua concealment of income, however issued notice dated 31.12.2016 u/s 271(1){c} read with section 274

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

274 read with section 271(1)(c) of the Act for A.Y. 2010-11 issued on 31st December, 2015, placed at page no.11 of the Paper Book does not strike off any one of the twin charges against the assessee and therefore, such penalty notices are bad in law and therefore, the penalty orders passed by the lower authorities

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

274 read with section 271(1)(c) of the Act for A.Y. 2010-11 issued on 31st December, 2015, placed at page no.11 of the Paper Book does not strike off any one of the twin charges against the assessee and therefore, such penalty notices are bad in law and therefore, the penalty orders passed by the lower authorities

GAUTAM PURANMAL PODDAR,KALYAN vs. ACIT, CIRCLE 3(2), KALYAN

In the result, the appeals of the assessee are allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 583 & 584/Mum/2023 Assessment Years: 2014-15 & 2015-16 Gautam Puranmal Poddar Acit, Circle-3(2), (Huf), 2Nd Floor, Rani Mansion, Plot No. Rl 1 Milap Nagar Midc Vs. Above Canara Bank, Resioential Area Dombivli East Murbad Rd. Kalyan, Kalyan-421 301. Thane-421 301. Pan No. Aaehg 6868 A Appellant Respondent Assessee By : Mr. Jayant Bhatt, Ca Revenue By : Mr. Paresh Deshpande, Dr : Date Of Hearing 27/04/2023 Date Of Pronouncement : 28/04/2023 Order

u/s 271(1)(c) of the Act. After taking into 271(1)(c) of the Act. After taking into consideration, the submission consideration, the submission of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. 4. On further appeals

GAUTAM PURANMAL PODDAR,KALYAN vs. ACIT, CIRCLE 3(2), KALYAN

In the result, the appeals of the assessee are allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 583 & 584/Mum/2023 Assessment Years: 2014-15 & 2015-16 Gautam Puranmal Poddar Acit, Circle-3(2), (Huf), 2Nd Floor, Rani Mansion, Plot No. Rl 1 Milap Nagar Midc Vs. Above Canara Bank, Resioential Area Dombivli East Murbad Rd. Kalyan, Kalyan-421 301. Thane-421 301. Pan No. Aaehg 6868 A Appellant Respondent Assessee By : Mr. Jayant Bhatt, Ca Revenue By : Mr. Paresh Deshpande, Dr : Date Of Hearing 27/04/2023 Date Of Pronouncement : 28/04/2023 Order

u/s 271(1)(c) of the Act. After taking into 271(1)(c) of the Act. After taking into consideration, the submission consideration, the submission of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. of the assessee, the Assessing Officer levied penalty on 29.06.2017. 4. On further appeals

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

u/s. 274 read with section 271 of the Act for initiating the penalty proceedings u/s. 271(1)(c) of the Act. The relevant

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

u/s. 274 read with section 271 of the Act for initiating the penalty proceedings u/s. 271(1)(c) of the Act. The relevant

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

u/s. 274 read with Section 271 of the Act for initiating the penalty proceedings u/s. 271(1)(c) of the Act. The notice

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

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

penalty proceedings u/s.\n271(1)(c) of the Act. It would be useful to reproduce the contents of the said notice as under:\n\"NOTICE UNDER SECTION 274 READ WITH SECTION 271

FABRIKANT TRADING (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT CIRCLE 5(1)(1), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

274 r.w.s. 271(1)(c) is without application of mind and therefore be treated as bad in law and consequently the penalty order passed u/s 271(1)(c) be treated as bad in law and therefore, be quashed. 3. Penalty of Rs. 29 02 020/- is levied u/s 271(1)(c) on the addition of Rs.86 21 564/- made u/s

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

section 271(1)(c)\nunder which the penalty was initiated.\n10.\nTo substantiate / support / corroborate the aforesaid contention, Ld. AR\ndrew our attention to the copy of notice u/s 274

ACIT-3(4), MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed whereas the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2016-17 Reliance Industries Ltd., Dy. Cit Circle 3(4), 3Rd Floor, Maker Chamber Iv 222 Room No. 559, Aayakar Bhavan, Nariman Point, Vs. Maharshi Karve Road, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent Assessment Year: 2016-17 Acit-3(4), Reliance Industries Ltd., Room No. 481(2), 4Th Floor, 3Rd Floor, Maker Chamber Iv Aayakar Bhavan, N.M. Road, Vs. Nariman Point, New Marine Lines, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent

u/s 32AC of Rs.6,28,94,089/-, which has been deleted by the Ld. CIT(A) observing as under: “7.3.3.4 Penalty levied on disallowance of deduction of investment allowance u/s.32AC: Facts related to the investment allowance u/s.32AC are that during the year, the assessee had made investment in new assets amounting to Rs.7324,42,28,447/-on which the investment

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

section 271(1)(c)\nunder which the penalty was initiated.\n10.\nTo substantiate / support / corroborate the aforesaid contention, Ld. AR\ndrew our attention to the copy of notice u/s 274