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 ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

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 ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

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

69,740/- in view of the assessee claiming bogus depreciation claim on certain bogus lease transactions. Penalty proceedings under section 271(1)(c) of the Act was initiated simultaneously. On appeal the learned CIT(A) vide order dated 18.06.2008 allowed the assessee partial relief. 2.2.3 Penalty proceedings under section 271(1)(c) of the Act was taken up and penalty

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

69,740/- in view of the assessee claiming bogus depreciation claim on certain bogus lease transactions. Penalty proceedings under section 271(1)(c) of the Act was initiated simultaneously. On appeal the learned CIT(A) vide order dated 18.06.2008 allowed the assessee partial relief. 2.2.3 Penalty proceedings under section 271(1)(c) of the Act was taken up and penalty

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

69,740/- in view of the assessee claiming bogus depreciation claim on certain bogus lease transactions. Penalty proceedings under section 271(1)(c) of the Act was initiated simultaneously. On appeal the learned CIT(A) vide order dated 18.06.2008 allowed the assessee partial relief. 2.2.3 Penalty proceedings under section 271(1)(c) of the Act was taken up and penalty

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)

section 271(l)(c) of the Income Tax Act, 1961. 3. The revenue has raised the following grounds of appeal. "On the facts and circumstances of the case, the Ld. CIT(A) has erred in limiting the penalty u/s 271(1 )(c) of Rs. 4,43,49,1 49/- to Rs.58,46,280/- stating that the concealed income

AUTORIDERS INDIA P. LTD,MUMBAI vs. ASST CIT 9(1), MUMBAI

In the result, all the three appeals filed by the assessee are allowed, as above

Bench: D.T. Garasia & Shri G. Manjunathaassessment Year: 1997-98 Assessment Year: 1999-2000 Assessment Year: 2004-05 M/S. Autoriders India Pvt. Ltd., The Asst. Comm. Of Income 4-A, Vikas Centre, Tax-9(1), 104 S.V. Road, Vs. Aayakar Bhavan, Santacruz, Mumbai Mumbai – 400 054 Pan: Aaaca8939R (Appellant) (Respondent) Present For: Assessee By : Shri Vijay Mehta, A.R. Revenue By : Shri R.P. Meena, D.R. & Shri Rajesh Kumar Yadav, D.R. Date Of Hearing : 10.11.2017 Date Of Pronouncement : 17.11.2017 O R D E R

section 147 of the Act for furnishing inaccurate particulars of income. While passing the penalty order the AO has levied the penalty for concealment of income. The Ld. A.R. has submitted the chart before us which reads as under: “A.Y. 1997-98 Sr. Particulars Amount of Penalty initiated in Penalty No. penalty assessment order passed levied by Assessing Officer u/s

AUTORIDERS INDIA P. LTD,MUMBAI vs. ASST CIT 9(1), MUMBAI

In the result, all the three appeals filed by the assessee are allowed, as above

Bench: D.T. Garasia & Shri G. Manjunathaassessment Year: 1997-98 Assessment Year: 1999-2000 Assessment Year: 2004-05 M/S. Autoriders India Pvt. Ltd., The Asst. Comm. Of Income 4-A, Vikas Centre, Tax-9(1), 104 S.V. Road, Vs. Aayakar Bhavan, Santacruz, Mumbai Mumbai – 400 054 Pan: Aaaca8939R (Appellant) (Respondent) Present For: Assessee By : Shri Vijay Mehta, A.R. Revenue By : Shri R.P. Meena, D.R. & Shri Rajesh Kumar Yadav, D.R. Date Of Hearing : 10.11.2017 Date Of Pronouncement : 17.11.2017 O R D E R

section 147 of the Act for furnishing inaccurate particulars of income. While passing the penalty order the AO has levied the penalty for concealment of income. The Ld. A.R. has submitted the chart before us which reads as under: “A.Y. 1997-98 Sr. Particulars Amount of Penalty initiated in Penalty No. penalty assessment order passed levied by Assessing Officer u/s

AUTORIDERS INDIA P. LTD,MUMBAI vs. ASST CIT 9(1), MUMBAI

In the result, all the three appeals filed by the assessee are allowed, as above

Bench: D.T. Garasia & Shri G. Manjunathaassessment Year: 1997-98 Assessment Year: 1999-2000 Assessment Year: 2004-05 M/S. Autoriders India Pvt. Ltd., The Asst. Comm. Of Income 4-A, Vikas Centre, Tax-9(1), 104 S.V. Road, Vs. Aayakar Bhavan, Santacruz, Mumbai Mumbai – 400 054 Pan: Aaaca8939R (Appellant) (Respondent) Present For: Assessee By : Shri Vijay Mehta, A.R. Revenue By : Shri R.P. Meena, D.R. & Shri Rajesh Kumar Yadav, D.R. Date Of Hearing : 10.11.2017 Date Of Pronouncement : 17.11.2017 O R D E R

section 147 of the Act for furnishing inaccurate particulars of income. While passing the penalty order the AO has levied the penalty for concealment of income. The Ld. A.R. has submitted the chart before us which reads as under: “A.Y. 1997-98 Sr. Particulars Amount of Penalty initiated in Penalty No. penalty assessment order passed levied by Assessing Officer u/s

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)

69,600/- by AO under section 271(1)(c) of the Act. 2. The Ld. CIT (A) further erred in confirming levy of penalty under section 271(1)(c) when the appellant was assessed and had paid tax under MAT as per provisions of section 115JB of the Act and hence no penalty under section 271(1)(c) could

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)

69 TTJ 14 (Delhi) (2000) Where income disclosed by assessee voluntarily at the time of survey was assessed in its hand on the basis of admission which was conditional that penalty would be imposed, penalty u/s 271(1)(c) could not be levied. 6. Non-filing of appeal has no bearing on penalty 8 I.T.A. No. 1617 to 1620/Mum/2018 Sandeep

RHEAL SOFTWARE P.LTD,MUMBAI vs. DCIT 8(3), MUMBAI

In the result, the appeal is partly allowed

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2011-12 Rheal Software Pvt. Ltd., Dy. Cit-8(3), Mumbai. 901, Premium Tower, Vs. Lokhandwala Complex, Andheri (W), Mumbai-400053. Pan No. Aabcr8008B Appellant Respondent

69,600/- and tax payable at Rs.1,63,04,652/-. The AO levied penalty at Rs.1,58,30,000/- being 100% of tax liability on Rs.4,76,54,118/- (claim u/s 10B withdrawn). The Ld. counsel therefore submits that in case penalty u/s 271(1)(c) is confirmed, then the AO be directed to restrict the penalty only

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 271D, section 271E, section 271F, section 271G, 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-section (1) of section 272BB or sub-section (1) of section 272BBB

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 271D, section 271E, section 271F, section 271G, 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-section (1) of section 272BB or sub-section (1) of section 272BBB

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 271D, section 271E, section 271F, section 271G, 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-section (1) of section 272BB or sub-section (1) of section 272BBB

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 271D, section 271E, section 271F, section 271G, 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-section (1) of section 272BB or sub-section (1) of section 272BBB

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 271D, section 271E, section 271F, section 271G, 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-section (1) of section 272BB or sub-section (1) of section 272BBB

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 271D, section 271E, section 271F, section 271G, 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-section (1) of section 272BB or sub-section (1) of section 272BBB