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

section 271(1)(c) at\n100% of tax sought to be evaded on ₹88,36,915/-, amounting to\n₹30,03,667/-. The CIT(A) confirmed the levy, holding that:\n(i), the assessee failed to file any evidence or details justifying the\nexpenses and relied merely on judicial precedents asserting that no\npenalty can be levied on estimated disallowances

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

section 271(1)(c) at\n100% of tax sought to be evaded on ₹88,36,915/-, amounting to\n₹30,03,667/-. The CIT(A) confirmed the levy, holding that:\n(i), the assessee failed to file any evidence or details justifying the\nexpenses and relied merely on judicial precedents asserting that no\npenalty can be levied on estimated disallowances

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

section 271(1)(c) at\n100% of tax sought to be evaded on ₹88,36,915/-, amounting to\n₹30,03,667/-. The CIT(A) confirmed the levy, holding that:\n(i), the assessee failed to file any evidence or details justifying the\nexpenses and relied merely on judicial precedents asserting that no\npenalty can be levied on estimated disallowances

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

MORAJ BUILDING CONCEPTS PRIVATE LIMITED,NAVI MUMBAI vs. INCOME TAX OFFICER, CENTRAL CIRCLE 5(2), MUMBAI

The appeals are dismissed as having been rendered infructuous

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SMT RENU JAUHRI (Accountant Member)

9. Section 271(1)(c) of the Act reads as under: “271. (1) If the Income-tax Officer or ….. in the course of any proceedings under this Act, is satisfied that any person: (a) xx xx, or Assessment Year 2014-2015, 2015-2016 & 2016-2017 (b) xx xx, or (c) has concealed the particulars of his income or furnished inaccurate

MORAJ BUILDING CONCEPTS PRIVATE LIMITED,NAVI MUMBAI vs. INCOME TAX OFFICER CENTRAL CIRCLE 5(2), MUMBAI

The appeals are dismissed as having been rendered infructuous

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SMT RENU JAUHRI (Accountant Member)

9. Section 271(1)(c) of the Act reads as under: “271. (1) If the Income-tax Officer or ….. in the course of any proceedings under this Act, is satisfied that any person: (a) xx xx, or Assessment Year 2014-2015, 2015-2016 & 2016-2017 (b) xx xx, or (c) has concealed the particulars of his income or furnished inaccurate

MORAJ BUILDING CONCEPTS PRIVATE LIMITED,NAVI MUMBAI vs. INCOME TAX OFFICER, CENTRAL CIRCLE 5(2), MUMBAI

The appeals are dismissed as having been rendered infructuous

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SMT RENU JAUHRI (Accountant Member)

9. Section 271(1)(c) of the Act reads as under: “271. (1) If the Income-tax Officer or ….. in the course of any proceedings under this Act, is satisfied that any person: (a) xx xx, or Assessment Year 2014-2015, 2015-2016 & 2016-2017 (b) xx xx, or (c) has concealed the particulars of his income or furnished inaccurate

RAJU MOHAN GURNANI,NAVI MUMBAI vs. INCOME TAX OFFICER, CENTRAL CIRCLE 5(2), MUMBAI

In the result, all three appeals of the assessee are allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सं./Ita No. 246/Mum/2025 (निर्धारण वर्ा / Assessment Year :2014-15) आयकर अपील सं./Ita No. 247/Mum/2025 (निर्धारण वर्ा / Assessment Year :2015-16) आयकर अपील सं./Ita No. 248/Mum/2025 (निर्धारण वर्ा / Assessment Year :2016-17) Raju Mohan Gurnani V/S. Ito, Central Circle 5(2) बिधम Flat No. 2101, Moraj Casa Room No. 427, 4Th Floor, Grande, Plot No. 57, Sector Kautilya Bhavan, Bandra 17, Koperkhairne Kurla Complex, Bandra Maharashtra-410209 East, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aalpg9103B Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: None रधजस्व की ओर से /Revenue By: Shri R. R. Makwana

vi. the penalty was initiated without specifying any charge in the assessment order or penalty notices or penalty orders, vii. the appellant was prevented by a reasonable cause, viii. the order passed was beyond the time permissible u/s 275, ix. passing an order dt. 02.03.2022 u/s. 271(1)(c) in respect of the proceedings which had been time barred

RAJU MOHAN GURNANI,NAVI MUMBAI vs. INCOME TAX OFFICER, CENTRAL CIRCLE 5(2), MUMBAI

In the result, all three appeals of the assessee are allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सं./Ita No. 246/Mum/2025 (निर्धारण वर्ा / Assessment Year :2014-15) आयकर अपील सं./Ita No. 247/Mum/2025 (निर्धारण वर्ा / Assessment Year :2015-16) आयकर अपील सं./Ita No. 248/Mum/2025 (निर्धारण वर्ा / Assessment Year :2016-17) Raju Mohan Gurnani V/S. Ito, Central Circle 5(2) बिधम Flat No. 2101, Moraj Casa Room No. 427, 4Th Floor, Grande, Plot No. 57, Sector Kautilya Bhavan, Bandra 17, Koperkhairne Kurla Complex, Bandra Maharashtra-410209 East, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aalpg9103B Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: None रधजस्व की ओर से /Revenue By: Shri R. R. Makwana

vi. the penalty was initiated without specifying any charge in the assessment order or penalty notices or penalty orders, vii. the appellant was prevented by a reasonable cause, viii. the order passed was beyond the time permissible u/s 275, ix. passing an order dt. 02.03.2022 u/s. 271(1)(c) in respect of the proceedings which had been time barred

RAJU MOHAN GURNANI,NAVI MUMBAI vs. CENTRAL CIRCLE 5(2), MUMBAI

In the result, all three appeals of the assessee are allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सं./Ita No. 246/Mum/2025 (निर्धारण वर्ा / Assessment Year :2014-15) आयकर अपील सं./Ita No. 247/Mum/2025 (निर्धारण वर्ा / Assessment Year :2015-16) आयकर अपील सं./Ita No. 248/Mum/2025 (निर्धारण वर्ा / Assessment Year :2016-17) Raju Mohan Gurnani V/S. Ito, Central Circle 5(2) बिधम Flat No. 2101, Moraj Casa Room No. 427, 4Th Floor, Grande, Plot No. 57, Sector Kautilya Bhavan, Bandra 17, Koperkhairne Kurla Complex, Bandra Maharashtra-410209 East, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aalpg9103B Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: None रधजस्व की ओर से /Revenue By: Shri R. R. Makwana

vi. the penalty was initiated without specifying any charge in the assessment order or penalty notices or penalty orders, vii. the appellant was prevented by a reasonable cause, viii. the order passed was beyond the time permissible u/s 275, ix. passing an order dt. 02.03.2022 u/s. 271(1)(c) in respect of the proceedings which had been time barred

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

section 271(1)(c). [Para 9.1] In view of aforesaid, impugned order of the Commissioner (Appeals) deleting penalty was to be upheld..' Thus, respectfully following the decision of Hon'ble Supreme Court in the case of K C Builders (supra), the penalty u/s.271(1)(c) levied by the AO on transfer pricing adjustment is deleted. 7.3.3.7 The levy of penalty

RELIANCE INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX -CIRCLE 3(4) , MUMBAI

In the result, the appeal of the Revenue is dismissed whereas\nthe appeal of the assessee is allowed

section 271(1)(c).\n[Para 9.1]\nIn view of aforesaid, impugned order of the Commissioner\n(Appeals) deleting penalty was to be upheld..' \nThus, respectfully following the decision of Hon'ble Supreme\nCourt in the case of KC Builders (supra), the penalty\nu/s.271(1)(c) levied by the AO on transfer pricing adjustment is\ndeleted.\n7.3.3.7 The levy

ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-3(4), MUMBAI, MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

Accordingly.\n7. To sum-up, these Revenue's twin appeals ITA.Nos.1875 & 1872/Mum./2024 and assessee's cross objections C.O.Nos.88 & 89/MUM./2024 are dismissed in above terms

271 of the IT Act. In the notice, the AO has scored off the phrase \"have concealed the particulars of your income\" and the charge intimated for initiation of penalty was \"for furnishing of inaccurate particulars of such income\". In subsequent notices, reference was made to notice dated 10.11.2020. In the subsequent notices, it was specifically mentioned that why order

HEMAL MAGANLAL SHAH,MUMBAI vs. CIT (A) NFAC, DELHI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Aby T Varkey & Shri Gagan Goyalhemal Maganlal Shah 84, 4Th Floor, Pankaj-B, Lbs Road, Ghatkopar (W), Mumbai-400086. Pan: Amfps8271G ...... Appellant Vs. The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Mumbai. ..... Respondent Appellant By : Sh. H.M. Shah Respondent By : Sh. Prasoon Kabra Date Of Hearing : 17/05/2022 Date Of Pronouncement : 10/08/2022 Order Per Gagan Goyal, A.M:

U/s. 271(1) (c) cannot be levied and assessee pleads that there is neither "Concealment' nor 'furnishing of inaccurate particulars' by him. The assessee also relies on following decisions of various High Courts to put weight that he has not concealed the Income. Judicial Pronouncements: 1. Surat Fashions Ltd. vs. ACIT [2011-ITRV-ITAT-AHD-124] 2. Narayansingh J. Deora

ATOS INFORMATION TECHNOLOGY HK LTD.,NAVI MUMBAI vs. DCIT (IT) - 1(1)(2), MUMBAI

In the result, the appeal by the assessee stands partly allowed

vi) of the Act. 2. On the facts and in the circumstances of the case and in law, the Learned AO and the DRP erred in holding the sum of Rs.40,46,45,646/- as 'Fees for Technical Services' under Section 9(1)(vii) of the Act. The Appellant humbly prays that the Learned AO be directed to not treat

COAST LINE SHIPPING (INDIA) PVT. LTD.,MUMBAI vs. DCIT , CC- 5(1), MUMBAI

In the result, appeals of the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Ble

9. Per contra, Sri R.Raghunandan, learned senior counsel representing Sri T.Bala Mohan Reddy, learned counsel for the assessee, would rely upon the decisions of the Karnataka and Gujarat High Courts and assert that when penal proceedings are initiated under Section 271(1)(c) of the Act of 1961, an assessee must be made aware in no uncertain terms