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 ()

penalty u/s 271(1)(c) of the Act unless the conditions provided under 271(1)(c) of the Act unless the conditions provided under 271(1)(c) of the Act unless the conditions provided under Explanation 5A to section

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 ()

penalty u/s 271(1)(c) of the Act unless the conditions provided under 271(1)(c) of the Act unless the conditions provided under 271(1)(c) of the Act unless the conditions provided under Explanation 5A to section

AJANTA PHARMA LTD,MUMBAI vs. DCIT CEN CIR 7(2), MUMBAI

In the result, appeal of the assessee is allowed, as above

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2012-13

5A to section 271 is applicable. 5. On the facts and in the circumstances of the case and in law, the CIT(A) erred in confirming the levy of penalty under section 271(1)(c) of the Act, when there is no difference between the returned income and the assessed income. 6. On the facts and in the circumstances

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

section 132(4), the Explanation 5A as it stood on the date of filing of return/revised return by the assessee, levy of penalty on the additional income included in the return based only on the sworn statement of the assessee cannot be sustained. Accordingly the penalty levied upon the assessees deserved to be deleted.” 38. The fact that the revenue

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

section 132(4), the Explanation 5A as it stood on the date of filing of return/revised return by the assessee, levy of penalty on the additional income included in the return based only on the sworn statement of the assessee cannot be sustained. Accordingly the penalty levied upon the assessees deserved to be deleted.” 38. The fact that the revenue

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

section 132(4), the Explanation 5A as it stood on the date of filing of return/revised return by the assessee, levy of penalty on the additional income included in the return based only on the sworn statement of the assessee cannot be sustained. Accordingly the penalty levied upon the assessees deserved to be deleted.” 38. The fact that the revenue

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

section 132(4), the Explanation 5A as it stood on the date of filing of return/revised return by the assessee, levy of penalty on the additional income included in the return based only on the sworn statement of the assessee cannot be sustained. Accordingly the penalty levied upon the assessees deserved to be deleted.” 38. The fact that the revenue

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

section 132(4), the Explanation 5A as it stood on the date of filing of return/revised return by the assessee, levy of penalty on the additional income included in the return based only on the sworn statement of the assessee cannot be sustained. Accordingly the penalty levied upon the assessees deserved to be deleted.” 38. The fact that the revenue

BALAJI TELEFILMS LTD,MUMBAI vs. DCIT 4(3)(CR)4, MUMBAI

The appeal stands allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am

penalty u/s 271(1) (c) could not be levied. 3.2 However, the said pleas could not find favor with first appellate authority. The Ld. CIT(A) after appreciating the factual matrix, at para-8, invoked explanation 5A to Section

BALAJI TELEFILMS LTD,MUMBAI vs. DCIT 4(3)(CR)4, MUMBAI

The appeal stands allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am

penalty u/s 271(1) (c) could not be levied. 3.2 However, the said pleas could not find favor with first appellate authority. The Ld. CIT(A) after appreciating the factual matrix, at para-8, invoked explanation 5A to Section

BALAJI TELEFILMS LTD,MUMBAI vs. DCIT 4(3) CEN RG 4, MUMBAI

The appeal stands allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am

penalty u/s 271(1) (c) could not be levied. 3.2 However, the said pleas could not find favor with first appellate authority. The Ld. CIT(A) after appreciating the factual matrix, at para-8, invoked explanation 5A to Section

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

penalty u/s\n271(1)(c) of the Act unless the conditions provided under\nExplanation 5A to section 271(1)(c) of the Act are fulfilled

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

penalty u/s\n271(1)(c) of the Act unless the conditions provided under\nExplanation 5A to section 271(1)(c) of the Act are fulfilled

ARUN RAVINDRANATH SAWHNEY,MUMBAI vs. DCIT CEN CIR 3(4), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Sri Mahavir Singh, Jm & Sri G Manjunatha, Am Aayakr Apila Sam./ Ita No. 7192/Mum/2016 (Inaqa-Arna Baya- / Assessment Year 2007-08) Arun Ravindranath Sawhney The Dy. Commissioner Of 502, Daisylea Apartment, 17- Income Tax, Central Circle A Mount Pleasant Road, 3(4), Old Acit Central Vs. Mumbai-400 006 Circle 24& 26 Air India Building, Nariman Point, Mumbai-400 021 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा िं./Pan No. Aafps4688F

u/s. 271(1)(c) of the Assessee is only trying to propose various theories when he was confronted with hard evidence which clearly establishes that there is deliberate concealment of income. The contention of assessee that the declaration is voluntary cannot be accepted as the assessee declared the amount only when he was left with no escape route on being

FINANCIAL TECHNOLOGIES (INDIA ) LTD,MUMBAI vs. ACIT CEN CIR 46, MUMBAI

In the result, the assessee’s appeals for A

Bench: Shri Jason P Boaz & Shri Sandeep Gosain

penalty u/s 271 (1)(c) was initiated in the order passed u/s 143(3) read with section 147 and no order u/s 153A was passed and as such application of explanation 5A

ACIT CEN CIR 34, MUMBAI vs. JATIN J.SHAH, MUMBAI

In the result, all appeals of the revenue are dismissed

u/s 271 (1 )(c) of the Act. The words 'in the course of any proceedings under this Act' in section 271 (1) are prefaced by the satisfaction of the Assessing Officer or the Commissioner (Appeals). When a survey is conducted by a survey team, the question of satisfaction of Assessing Officer or the Commissioner (Appeals) or the Commissioner does

ACIT CEN CIR 34, MUMBAI vs. JAY FAB, MUMBAI

In the result, all appeals of the revenue are dismissed

u/s 271 (1 )(c) of the Act. The words 'in the course of any proceedings under this Act' in section 271 (1) are prefaced by the satisfaction of the Assessing Officer or the Commissioner (Appeals). When a survey is conducted by a survey team, the question of satisfaction of Assessing Officer or the Commissioner (Appeals) or the Commissioner does

ACIT CC 34, MUMBAI vs. JAY FAB, MUMBAI

In the result, all appeals of the revenue are dismissed

u/s 271 (1 )(c) of the Act. The words 'in the course of any proceedings under this Act' in section 271 (1) are prefaced by the satisfaction of the Assessing Officer or the Commissioner (Appeals). When a survey is conducted by a survey team, the question of satisfaction of Assessing Officer or the Commissioner (Appeals) or the Commissioner does