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

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

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

u/s 274 RWs 271 (1) (c) of the Act. Thus, It is apparent that notwithstanding the defective notice, the assessee was fully aware of the reason as to why the Assessing Officer sought to impose penalty. Thus, significant features of the case in hand are that penalty proceedings were initiated during the assessment proceedings. The Assessing Officer had although issued

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

u/s 274 RWs 271 (1) (c) of the Act. Thus, It is apparent that notwithstanding the defective notice, the assessee was fully aware of the reason as to why the Assessing Officer sought to impose penalty. Thus, significant features of the case in hand are that penalty proceedings were initiated during the assessment proceedings. The Assessing Officer had although issued

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

69,516/- made u/s 37(1) of the\nact on estimated basis.\n2. On the facts and circumstances of the case and in law, the\nlearned CIT (A) has erred in confirming the penalty levied on\nsuo-moto disallowance of interest of Rs.79,26,246/- & Excess\ndepreciation of Rs.1,34,58,867/- in the return of\nincome filed u/s 153A

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

69,516/- made u/s 37(1) of the\nact on estimated basis.\n2. On the facts and circumstances of the case and in law, the\nlearned CIT (A) has erred in confirming the penalty leviedon\nsuo-moto disallowance of interest of Rs.79,26,246/- & Excess\ndepreciation of Rs.1,34,58,867/- in the return\nof\nincome filed u/s 153A.\n8.3

M/S SUPERTECH CONSTRUCTION COMPANY,MUMBAI vs. ACIT 27 (3), MUMBAI

In the result, appeal preferred by the Assessee is allowed

u/s 271(1)(c) on estimated addition is bad-in-law.” When the appeal was taken for hearing none present on behalf of the 3. Appellant. On perusal of the memorandum of appeal, we find that the solitary issue raised in the present appeal pertains to the levy of penalty under Section 271(1)(c) of the Act. We have

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

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

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

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

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

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

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

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

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

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

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT 3(1)(1),MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD, MUMBAI

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

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

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

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

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

69,516/- made u/s 37(1) of the\nact on estimated basis.\n2. On the facts and circumstances of the case and in law, the\nlearned CIT (A) has erred in confirming the penalty levied on\nsuo-moto disallowance of interest of Rs.79,26,246/- & Excess\ndepreciation of Rs.1,34,58,867/- in the return\nof\nincome filed u/s 153A

DY. COMMISSIONER OF INCOME TAX, MUMBAI vs. KANAKIA SPACES REALTY PRIVATE LIMITED, MUMBAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2011-12 Dy. Commissioner Of Income Tax Kanakia Spaces Realty Room No. 420, Kautilya Bhawan, Private Limited Vs. G Block, Bandra Kurla Complex, Plot No. 8, Vilco Centre, 3Rd Mumbai- 400051 Floor, Subhash Road, Opp Garware House, Vile Parle East, Mumbai- 400057 Pan No. Aaccc 4199 F Appellant Respondent Assessee By : Ms. Shweta Vardhan : Shri. Hemanshu Joshi, Sr Dr Revenue By Date Of Hearing : 25/11/2025 : 20/01/2026 Date Of Pronouncement Order

section 271(1)(c) was levied ceased to exist. The relevant finding of the Ld. CIT(A) The relevant finding of the Ld. CIT(A) is reproduced as below: “6.1 Ground No.1 raised by the appellant pertains to levy of 6.1 Ground No.1 raised by the appellant pertains to levy of penalty 6.1 Ground No.1 raised by the appellant pertains

DCIT 41 1 1, MUMBAI vs. SATYA KIM YASHPAL, MUMBAI

Bench: returning to India in the year 2001. JSY expired on 28/06/2017.

69,165/- 2024 : 5129/ 2011-2012 26/08/2015 Income sought to be evaded - Interest : 14,04,524 + 7,903 MUM/ (11/07/2024) : 14,12,427/- Penalty levied @ 300% of tax 8,36,700/- C.O.No.265, 266, 264, 268, 263, 262/Mum/2024 Assessment Year 2002-03, 2003-04, 2006-07, 2007-08, 2009-2010 & 2011-2012 2024 : 3.7. In appeal preferred by the Assessee

DCIT 41 1 1, MUMBAI vs. SATYA KIM YASHPAL, MUMBAI

Bench: returning to India in the year 2001. JSY expired on 28/06/2017.

69,165/- 2024 : 5129/ 2011-2012 26/08/2015 Income sought to be evaded - Interest : 14,04,524 + 7,903 MUM/ (11/07/2024) : 14,12,427/- Penalty levied @ 300% of tax 8,36,700/- C.O.No.265, 266, 264, 268, 263, 262/Mum/2024 Assessment Year 2002-03, 2003-04, 2006-07, 2007-08, 2009-2010 & 2011-2012 2024 : 3.7. In appeal preferred by the Assessee