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 ()

57,280/-. The return of income The return of income was selected for scrutiny and selected for scrutiny and the assessment u/s 143(3) of the the assessment u/s 143(3) of the Income-tax Act, 1961 (in short ‘the Act’) was completed on tax Act, 1961 (in short ‘the Act’) was completed on tax Act, 1961 (in short

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 ()

57,280/-. The return of income The return of income was selected for scrutiny and selected for scrutiny and the assessment u/s 143(3) of the the assessment u/s 143(3) of the Income-tax Act, 1961 (in short ‘the Act’) was completed on tax Act, 1961 (in short ‘the Act’) was completed on tax Act, 1961 (in short

DCIT - (LTU) - 1 , MUMBAI vs. RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the appeals filed by the Revenue and Cross Objections filed by the assessee are dismissed

Bench: Shri G. Manjunatha & Shri Ravish Sood

57,374/- under normal provisions of the Income Tax Act, 1961, and Rs. 22944,76,85,176/- under the provisions of Sec. 115JB of the Act. The assessment has been completed u/s 143(3) of the Act, on 31.08.2010 determining the total income at Rs. 9033,85,80,777/- under normal provisions

ELENJICKAMALIL V. THOMAS,NAVI MUMBAI vs. DCIT 22(3), MUMBAI

In the result, appeal of the assessee in ITA no

Bench: Shri Mahavir Singh & Shri Ramit Kocharआमकय अऩीर सं/.I.T.A. No.2647/Mum/2017 (नििाारण वषा / Assessment Year : (2009-10) बिाम / Elenjickamalil V. Thomas Dcit 22(3) 212, Vardhaman Chambers, Mumbai Sector-17, Vashi, V. Navi Mumbai – 400 703 स्थामी रेखा सं/.Pan: Aacpe7339L (अऩीराथी / Appellant) (प्रत्मथी / Respondent) ..

Section 292B and 29BB of the 1961 Act. Thus, keeping in view factual matrix of the ground, this legal ground is also adjudicated against the assessee. Thus, the assessee fails on both legal ground as well on merits of the issue with respect to deposit of cash of Rs. 3,00,000/- in bank account for which penalty as levied

A.C.I.T. CENTRAL CIRCLE-20, MUMBAI vs. ANKUR DRUGS & PHARMA LTD., MUMBAI

In the result appeal of the Revenue in I

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 7529/Mum/2011 (नििाारण वर्ा / Assessment Year: 2006-07)

Section 80IC clearly requires manufacturing . Thus, learned CIT DR strongly supported the levying of penalty u/s 271(1)(c) of the 1961 Act and contended that the appellate order of learned CIT(A) is erroneous which needed to be reversed and penalty levied by the AO be confirmed. 10. The assessee during the course of hearing was directed

CAPRICON REALTY LTD.,MUMBAI vs. ACIT CIR 2(1), MUMBAI

In the result, appeal of assessee is allowed

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 5724/Mum/2013 (नििाारण वर्ा / Assessment Year : 2005-06)

section 271(1)(c) in this case. Accordingly we set aside the order of CIT(A) and delete the penalty levied.” 7. Following the aforesaid precedent, which has been rendered under identical circumstances, we set-aside the order of CIT(A) and direct the Assessing Officer to delete the penalty imposed u/s 271

MAHESH M. GANDHI,MUMBAI vs. ACIT 20(2), MUMBAI

In the result, appeal filed by the assessee in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.2976/Mum/2016 ("नधा"रण वष" / Assessment Year : 2011-12) Shri Mahesh M. Gandhi, Asst. Commissioner Of बनाम/ 303/304, Sholay Income Tax – 20(2), V. Apartments, Mumbai. Raheja Complex, Seven Bungalows, Versova, Andheri (W), Mumbai – 400 061. "थायी लेखा सं./Pan : Aabpg3545P (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

57. The question of their recording satisfaction and then calling upon the Assessing Officer to initiate penalty proceedings would not arise. Penalty proceedings has to be initiated by the authority which is satisfied about the concealment of the particulars of the income or furnishing of inaccurate particulars of income. PROCEDURE FOR IMPOSING PENALTY 58. It must be noticed that this

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

section 271(1)(c). The appellant pray that levy of penalty u/s 271(1)(c) on Rs.5,40,851/- should be deleted. The appellant craves leave to amend or alter ground or add new ground.” 4.1.2 Vide letter dated 12.07.2016, the assessee has filed the following additional grounds: - Additional grounds of appeal “1. On the facts and in the circumstances

PRECISION CONTANEURS LTD (FORMERLY KNOWN AS VASPARR FISCHE LTD ),MUMBAI vs. ASST CIT CIR 9(3), MUMBAI

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

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

section 271(1)(c). The appellant pray that levy of penalty u/s 271(1)(c) on Rs.5,40,851/- should be deleted. The appellant craves leave to amend or alter ground or add new ground.” 4.1.2 Vide letter dated 12.07.2016, the assessee has filed the following additional grounds: - Additional grounds of appeal “1. On the facts and in the circumstances

PRECISION CONTANEURS LTD (FORMERLY KNOWN AS VASPARR FISCHE LTD ),MUMBAI vs. ASST CIT CIR 9(3), MUMBAI

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

Bench: Shri Jason P. Boaz & Shri Amarjit Singh

section 271(1)(c). The appellant pray that levy of penalty u/s 271(1)(c) on Rs.5,40,851/- should be deleted. The appellant craves leave to amend or alter ground or add new ground.” 4.1.2 Vide letter dated 12.07.2016, the assessee has filed the following additional grounds: - Additional grounds of appeal “1. On the facts and in the circumstances

MUNIR M. KHAN,MUMBAI vs. DCIT- CC -7(1), MUMBAI

In the result, appeal filed by the assesee is allowed and appeal filed by the revenue is dismissed

Bench: Shri Saktijit Dey & Shri G. Manjunathamunir Khan Vs. Dcit, Central Circle-7(1) 654, 6Th Floor 1404, ‘A’ Wing Raj Classic Bldg Aaykar Bhawan Off. Yari Road, Versova M.K.Road Andheri(W) Mumbai-400 020 Mumbai-400 061 Pan/Gir No.Asgpk3313A (Appellant) .. (Respondent) & Dcit, Central Circle-7(1) Vs. Munir Khan 654, 6Th Floor 1404, ‘A’ Wing Aaykar Bhawan Raj Classic Bldg M.K.Road Off. Yari Road, Versova Mumbai-400 020 Andheri(W) Mumbai-400 061 Pan/Gir No.Asgpk3313A (Appellant) .. (Respondent)

u/s 271(1()(c) of the Act, to the extent of additions finally sustained by ITAT and balance penalty levied on the additions, which has been deleted by the ITAT has been deleted. The relevant findings of the Ld.CIT(A) are as under:- 6.5 It is seen from the above provisions that penalty under section 271AAA is leviable

AMIT CAPITAL & SECURITIES P.LTD,MUMBAI vs. ITO 2(1)(1), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year 2006-07 Amit Capital & Securities Income Tax Officer Private Limited, Range-2(1)(1), बनाम/ 47A, 3Rd Floor, Plot No.308, Aayakar Bhavan, Vs. Hanuman Building, Perin M. K. Road, Nariman Street, Fort, Mumbai-400020 Mumbai-400001 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaaca4219Q "नधा"रती क" ओर से / Assessee By Shri Govind Jhaveri Shri Satishchandra Rajore-Dr राज"व क" ओर से / Revenue By 04/10/2018 सुनवाई क" तार"ख / Date Of Hearing : घोषणा क" तार"ख/Date Of Pronouncement 09/10/2018

u/s 271(1)(c) on the premise that the Appellant had furnished inaccurate particulars and concealed the income. 4. confirming the penalty levied under Section 271(1)(c) of the Act, without appreciating the fact that the additions made by the learned AO of Rs 66,57

M/S FLEMMINGO TRAVEL RETAIL LTD.(FORMERLY KNOWN AS DFS INDIA P. LTD.),MUMBAI vs. DCIT - 9 (3) (2), MUMBAI

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri G. Manjunatha & Shri Ravish Soodm/S Flemingo Travel Retail Dcit –9(3)(2) Room No. 418, 4Th Floor, Limited (Formerly Known As Dfs India Pvt. Ltd.), Chhatrapati Shivaji Aayakar Bhavan, M.K. Road, International Airport, New Vs. Mumbai 400020 Terminal 2, Csi Airport, Sahar, Mumbai. Pan – Aaccd7412N (Appellant) (Respondent)

57,489/- u/s 115JB of the Act. It was further submitted by the ld. A.R that as the assessee company had been assessed to tax at its deemed income returned u/s 115JB of the Act, therefore, no penalty u/s 271(1)(c) could have been imposed for M/s Flemingo Travel Retail Ltd. Vs. DCIT- 9(3)(2), Mumbai

SANDEEP BHIMRAO LAD,MUMBAI vs. DCIT CIRCLE-3, THANE

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 1620/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2009-10)

section 274 of the Act on 04.03.2014 and served on the assessee. In response assessee filed a letter dated 01.07.2014, for the sake of convenience, it is reproduced below: '1. In the order of assessment, you honour had disallowed the purchases of F. Y. 200&-09 amounting to Rs. 27,57,768/- stating purchases are from suspicious dealers as recognized

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

57, Mumbai [in short ‘the Ld. CIT(A)’] for assessment year 2016-17, in relation to penalty u/s 271(1)(c) of the Income-tax Act, 1961 (in short ‘the Act’) levied by the Assessing Officer. 2. The grounds raised by the Revenue in its appeal are reproduced as under: 1. Whether on the facts and circumstances of the case

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

271, section 271A, [section 271AA], section 271B, [section 271BA], [section 271BB,] section 271C, [section 271CA,] section 271D, section 271E, [section 271F, [section 271FA,] [section 271FB,] [section 271G,]] [section 271H,] clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 272A, sub-section (1) of section 272AA] or [section 272B or] [sub- ITA Nos.7124 to 7129/Mum/2016

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

271, section 271A, [section 271AA], section 271B, [section 271BA], [section 271BB,] section 271C, [section 271CA,] section 271D, section 271E, [section 271F, [section 271FA,] [section 271FB,] [section 271G,]] [section 271H,] clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 272A, sub-section (1) of section 272AA] or [section 272B or] [sub- ITA Nos.7124 to 7129/Mum/2016

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

271, section 271A, [section 271AA], section 271B, [section 271BA], [section 271BB,] section 271C, [section 271CA,] section 271D, section 271E, [section 271F, [section 271FA,] [section 271FB,] [section 271G,]] [section 271H,] clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 272A, sub-section (1) of section 272AA] or [section 272B or] [sub- ITA Nos.7124 to 7129/Mum/2016