OGD SERVICES LIMITED,MUMBAI vs. DCIT, CIRCLE 14(1)(1), MUMBAI

In the result, the appeal is allowed

section 43B of the Act which was upheld by the Ld.CIT(A) and the appeal filed by the company was dismissed. The AO subsequently passed penalty order u/s 271

NATH CAPITAL & FINANCIAL SERVICES LTD.,MUMBAI vs. ITO WARD 1 (2)(3), MUMBAI

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

penalty appeal arises out of order dated 07/10/2019\npassed by the Ld.CIT(A)-6, Mumbai for Assessment Year 2002-03\non following grounds of appeal:-\n\"1.\nThe Learned CIT (Appeals) erred in confirming the order by\nITO passed u/s 271(1)(c) of the Act.\n2.\nThe Learned CIT (Appeals) erred in dismissing the ground\nthat, there

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

penalty proceedings under section 271(1)(c) of the Act. 4. Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its original return of income for the assessment year under original return of income

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

penalty proceedings under section 271(1)(c) of the Act. 4. Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its original return of income for the assessment year under original return of income

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

penalty proceedings under section 271(1)(c) of the Act. 4. Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its original return of income for the assessment year under original return of income

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

penalty proceedings under section 271(1)(c) of the Act. 4. Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its original return of income for the assessment year under original return of income

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

penalty proceedings under section 271(1)(c) of the Act. 4. Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its Briefly stated, facts of the case are that the assessee filed its original return of income for the assessment year under original return of income

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

43B of the Act and the inclusion of excise duty, freight etc do not attract penalty u/s. 271(1)(c) of the Act in view of Pune Bench decision in the case of Kanbay Software P. Ltd. In the case of Indian Aluminum Co. Ltd. vs. ACIT, ITA No. 2081/Mum2012 (AY 1989-90), the following ground of appeal was raised

ADDL CIT CEN RG IX, MUMBAI vs. UNIPHOS ENTERPRISES LTD ( FORMLERY KNOWN AS UNITED PHOSPHORUS LTD), MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

M/S. UNITED PHOSPHORUS LTD(NOW KNOWN AS UNIPHOS ENTERPRISES LTD),MUMBAI vs. THE DCIT CEN CIR-38, MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

UNIPHOS ENTERPRISES LTD ( FORMERLY KNOWN AS UNITED PHOSPHORUS LTD),MUMBAI vs. ADDL CIT CEN RG IX, MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

ASST CIT CC 38, MUMBAI vs. UNIPHOS ENTERPRISES LTD, MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

THE ACIT CC-38, MUMBAI vs. M/S. UNITED PHOSPHOROUS LTD, MUMBAI

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

penalty levied u/s 271(1)(c)) ACIT, CC-38, Room no. M/s. United Phosphorous Ltd. 32(1), Ayakar Bhavan, Vs. Uniphos House, Madhu Park, 11th Road, Khar (W), Mumbai. Maharishi Karve Rd., Mumbai-400020. PAN: AAACU 3440 P (Appellant) .. (Respondent) Assessee by Ms. Vasanti Patel Advocate Revenue by Shri. Kiran Unavekar, Sr. DR Date of Hearing 18/03/2025 Date of Pronouncement

ASST CIT (LTU) 1, MUMBAI vs. GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

section 234B, 234C & 234D. 10 Penalty proceedings u/s. 271(1)(c) Revenue Ground No. Issues 1 to 4 Disallowance u/s 14A of the Act 5 Disallowance u/s 40(a)9ia) on year end provisions 6 Deleting the addition on account of CENVAT Credit ignoring the fact that the addition was made on net-basis and assessee, itself, withdrew its ground

GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD),MUMBAI vs. ADDL CIT LTU, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

section 234B, 234C & 234D. 10 Penalty proceedings u/s. 271(1)(c) Revenue Ground No. Issues 1 to 4 Disallowance u/s 14A of the Act 5 Disallowance u/s 40(a)9ia) on year end provisions 6 Deleting the addition on account of CENVAT Credit ignoring the fact that the addition was made on net-basis and assessee, itself, withdrew its ground

UNIPHOS ENTERPRISES LTD,MUMBAI vs. ADDL CIT CEN RG IX, MUMBAI

In the result, the appeal of assessee is allowed

penalty levied u/s 271(1)(c))\nACIT, CC-38, Room no.\nVs.\nM/s. United Phosphorous Ltd.\n32(1), Ayakar Bhavan,\nUniphos House, Madhu Park,\nMaharishi Karve Rd.,\n11th Road, Khar (W), Mumbai.\nMumbai-400020.\nPAN: AAACU 3440 P\n(Appellant)\n(Respondent)\nAssessee by\nMs. Vasanti Patel Advocate\nRevenue by\nShri. Kiran Unavekar, Sr. DR\nDate of Hearing\n18/03/2025\nDate

CAPACITE INFRAPROJECTS LIMITED,MUMBAI vs. ACIT/DCIT CENTRAL CIRCLE 1(2), MUMBAI, MUMBAI

Bench: SHRI AMRJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 36(1)(va) r.w.s. 2(24)(x) is in contravention to the principles of natural justice and needs to be deleted.” 3. The relevant facts in brief are that vide order, dated 24/02/2024, penalty of INR.54,51,888/-was levied on the Assessee under Section 271(1)(c) of the Act in respect of disallowance of INR.1

VASAI VIKAS SAHAKARI BANK LIMITED,VASAI, THANE vs. INCOME TAX OFFICER CIRCLE-3, THANE, QURESHI MANSION, GOKHALE ROAD, THANE

In the result, appeal of the assessee is accordingly allowed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 Vasai Vikas Sahakari Bank Limited Income Tax Officer Circle-3 Opp New English School, Vasai, Qureshi Mansion, Gokhale Mumbai-401201 Vs. Road, Mumbai- 400602 Pan No. Aaaav 0519 Q Appellant Respondent

section 43B(f) of the Act was struck down being arbitrary. The Ld. assessing officer rejected the contention of the assessee and held the assessee in default filing inaccurate particulars of income to reduce its tax liability. The Ld. assessing officer accordingly levied penalty at the rate of 100% of the tax sought to be evaded, which was computed