ACIT. CIR.-9(3), MUMBAI vs. M/S VASPARR FISCHER LTD. (NOW M/S. PRESIDENT CONTAINERS LTD.), MUMBAI

In the result, the assessee’s appeals for assessment years 1996-97

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

43B of the Act were deleted. Both Revenue and the assessee are in appeal before us to the extent that the impugned order of the learned CIT(A) is against them. M/s. Precision Containeurs Ltd. 3. Assessment Year 1996-97 3.1 The grounds raised by the assessee in this appeal are as under: - “On the facts and in the circumstances

GRASIM INDUSTRIES LTD ( CORPORATE FINANCE DIVISION),MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

Bench: the CIT(A). The CIT(A) partly allowed the appeal preferred by the Assessee vide order, dated 18/05/2009. 4. Not being satisfied with the relief granted by the Id. CIT(A), the Assessee has preferred appeal before this Tribunal. The Revenue has also filed cross-appeal challenging the relief granted by the Id. CIT(A).

penalty to the date on which the refund is granted. (3) Where, as a result of an order under sub-section (3) of section 115WE or section 115WF or section 115WG or sub- section (3) of section 143 or section 144 or section 147 or section 154 or section 155 or section 250 or section 254 or section

M/S. WAY FLOORS & FABRICS,,MUMBAI vs. ITO-26(3)(5),, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri G. Manjunatha & Shri Ravish Soodway Floors & Fabrics Vs. Ito-26(3)(5) Room No.504, C-11, 5Th 171/2, Prem Kunj Jain Society Floor, Pratyakshakar Sion (West) Bhawan, Bkc Mumbai-400 002 Bandra(E) Mumbai-400 051

section 43B of the Act is unjustified. The Appellant, therefore, prays that the levy 3 Way Floors & Fabrics of concealment penalty on the above disallowance is not at all justified and the same may be deleted. 5. The Appellant craves leave to add, alter, amend, delete or rescind any of the above grounds of appeal mentioned hereinabove. 3. The brief

AUTOMOBILES PRODUCTS OF INDIA LTD,CHENNAI vs. ASST CIT RG 10(3), MUMBAI

In the result, assessee’s appeal in ITA No 7584/Mum/2013 for the assessment year 2003-04 is allowed as indicated above

Bench: Shri Mahavir Singh & Shri Ramit Kochar

penalty u/s 271(1)(c) of the Act should not be levied. The A.O. observed that the contentions of the assessee have no merit. The assessee has not furnished the full facts with regard to the disallowance u/s 43B of the Act either in the audit report in Form 3CD or in the statement of computation of income filed with

MAGNUM INFRAPROJECTS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri G.S.Pannu & Shri Amarjit Singhto M/S. Magnum Infraprojects Pvt. Ltd. 1201-A, Shatrunjaya Darshan Co-Op. Housing Society Ltd., Sheth Motisha Cross Lane, Byculla (E), Mumbai- 400027 Pan:Aaccm4472D ...... Appellant Vs. The Acit, Central Cir.45, Mumbai .... Respondent

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section 142(1) of the Act dated 11.10.2013. In our view, it is relevant to extract hereunder the questionnaire appended

MAGNUM INFRAPROJECTS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri G.S.Pannu & Shri Amarjit Singhto M/S. Magnum Infraprojects Pvt. Ltd. 1201-A, Shatrunjaya Darshan Co-Op. Housing Society Ltd., Sheth Motisha Cross Lane, Byculla (E), Mumbai- 400027 Pan:Aaccm4472D ...... Appellant Vs. The Acit, Central Cir.45, Mumbai .... Respondent

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section 142(1) of the Act dated 11.10.2013. In our view, it is relevant to extract hereunder the questionnaire appended

MAGNUM INFRAPROJECTS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri G.S.Pannu & Shri Amarjit Singhto M/S. Magnum Infraprojects Pvt. Ltd. 1201-A, Shatrunjaya Darshan Co-Op. Housing Society Ltd., Sheth Motisha Cross Lane, Byculla (E), Mumbai- 400027 Pan:Aaccm4472D ...... Appellant Vs. The Acit, Central Cir.45, Mumbai .... Respondent

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section 142(1) of the Act dated 11.10.2013. In our view, it is relevant to extract hereunder the questionnaire appended

MAGNUM INFRAPROJECTS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri G.S.Pannu & Shri Amarjit Singhto M/S. Magnum Infraprojects Pvt. Ltd. 1201-A, Shatrunjaya Darshan Co-Op. Housing Society Ltd., Sheth Motisha Cross Lane, Byculla (E), Mumbai- 400027 Pan:Aaccm4472D ...... Appellant Vs. The Acit, Central Cir.45, Mumbai .... Respondent

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section 142(1) of the Act dated 11.10.2013. In our view, it is relevant to extract hereunder the questionnaire appended

DCIT 5(2), MUMBAI vs. JET AIRWAYS (I) LTD, MUMBAI

In the result, appeal of the assessee for AY 2003-04 being ITA No

Bench: S/Sh. Rajendra & Pawan Singhआयकर अपील सं/.Ita No.6596/Mum/2014,"नधा"रण वष"/Assessment Year-2003-04 Jet Airways (India) Ltd. Dcit-5(2) बनाम Siroya Centre, Sahar Airport Aayakar Bhavan, Road, Andheri (E), Mumbai-400020 Vs. Mumbai-400099. Pan: Aaacj0920H (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील सं/.Ita No.6597/Mum/2014,"नधा"रण वष"/Assessment Year-2007-08 Dcit-5(2) Jet Airways (India) Ltd. बनाम Aayakar Bhavan, Siroya Centre, Sahar Airport Mumbai-400020 Road, Andheri (E), Vs. Mumbai-400099. Pan: Aaacj0920H (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व ओर से / Revenue By : Ms Anu Krishna Aggarwal With Alok Johri (Dr) "नधा"रती क" ओर से/ Assessee By : Shri Vijaya Mehta (Ar) सुनवाई क" तार"ख / Date Of Hearing : 05-01-2017 घोषणा क" तार"ख / Date Of Pronouncement : 01-02-2017 आयकर अ"ध"नयम, 1961 क" धारा 254(1) के अ"तग"त आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) Per Pawan Singh, J.M. "या"यक सद"य Iou Iou Iou "संह के अनुसार: Iou 1. These Two Appeals By Assessee U/S 253 Of The Income Tax Act (The Act) Are Directed Against The Separate Orders Of Even Day Of Ld. Cit(A)-9, Mumbai Dated 28.08.2014 For Assessment Years (Ays) 2003-04 & 2007-08. 2. In Ita No. 6896/Mum/2014, The Assessee Has Raised The Following Grounds Of Appeal:

u/s 274 rws 271(1)(c ) dated 25.11.2013 for levy of penalty. The assessee contested the penalty notice and contended that there is no concealment of income or furnishing of inaccurate particulars of income. The assessee made full disclosure of fact and there was a reasonable cause/belief for provision of section 43B

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section M/s. Avarsekar & Sons Pvt. Ltd., 142(1) of the Act dated 11.10.2013. In our view, it is relevant

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section M/s. Avarsekar & Sons Pvt. Ltd., 142(1) of the Act dated 11.10.2013. In our view, it is relevant

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section M/s. Avarsekar & Sons Pvt. Ltd., 142(1) of the Act dated 11.10.2013. In our view, it is relevant

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section M/s. Avarsekar & Sons Pvt. Ltd., 142(1) of the Act dated 11.10.2013. In our view, it is relevant

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section M/s. Avarsekar & Sons Pvt. Ltd., 142(1) of the Act dated 11.10.2013. In our view, it is relevant

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section M/s. Avarsekar & Sons Pvt. Ltd., 142(1) of the Act dated 11.10.2013. In our view, it is relevant

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

penalty under section 271(1)(b) of the Act was levied on the assessee for the said seven assessment years, for failure on its part to comply with filing the requirements called in the questionnaire annexed to the notice under section M/s. Avarsekar & Sons Pvt. Ltd., 142(1) of the Act dated 11.10.2013. In our view, it is relevant

CIFCO FINANCE LTD,MUMBAI vs. ACIT (OSD-II) CR 7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page