DCIT CEN 5 3, MUMBAI, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

reassessment was beyond four years, and that notice under section 148 should have beyond four years, and that notice under section 148 should have beyond four years, and that notice under section 148 should have been issued by the Faceless Assessing Officer rather than the been issued by the Faceless Assessing Officer rather than the been issued by the Faceless

DCIT CEN 5 3, MUMBAI, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

reassessment was beyond four years, and that notice under section 148 should have beyond four years, and that notice under section 148 should have beyond four years, and that notice under section 148 should have been issued by the Faceless Assessing Officer rather than the been issued by the Faceless Assessing Officer rather than the been issued by the Faceless

ACIT, PIRAMAL CHAMBERS vs. MILESTONE REAL ESTATE FUND, MUMBAI

reassessment proceedings were initiated under Section 147 of the Act by issuance of notice, dated 14/12/2018, under Section 148 of the Act. In response to the aforesaid notices, Assessee filed return of income on 15/03/2018 declaring total income of INR 10,85,28,560/- and revised

ACIT-231, MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

Accordingly, Ground No. 6 raised by the Revenue is dismissed

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

reassessment proceedings were initiated under Section 147 of the Act by issuance of notice, dated 14/12/2018, under Section 148 of the Act. In response to the aforesaid notices, Assessee filed return of income on 15/03/2018 declaring total income of INR 10,85,28,560/- and revised

ACIT 23-1, MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

Accordingly, Ground No. 6 raised by the Revenue is dismissed

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

reassessment proceedings were initiated under Section 147 of the Act by issuance of notice, dated 14/12/2018, under Section 148 of the Act. In response to the aforesaid notices, Assessee filed return of income on 15/03/2018 declaring total income of INR 10,85,28,560/- and revised

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

section 147 of the Act by the Ld. AO, without appreciating that the reopening is without jurisdiction, bad in law and void reopening is without jurisdiction, bad in law and void-ab-initio. initio. The Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

section 147 of the Act by the Ld. AO, without appreciating that the reopening is without jurisdiction, bad in law and void reopening is without jurisdiction, bad in law and void-ab-initio. initio. The Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding

DCIT CC 3(4) CEN RG 3, MUMBAI vs. JIVESH DEVELOPERS & PROPERTIES P. LTD, MUMBAI

In the result, Revenue‟s appeals are dismissed

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

reassess income of such other person in accordance with the provisions of section 153A”. That as the aforesaid amendment to Section 153C is not retrospective in nature and is applicable only w.e.f 01.06.2015, therefore, the case of the present assessee company would be regulated by the pre-amended provisions as were available on the statute till 30.05.2015. We find that

ACIT CEN CIR-I, RG0-2, MUMBAI vs. REHAB HSG. P. LTD, MUMBAI

In the result, all the cross objections by the assessee are allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year.‖ 8. On a bare reading of the aforesaid provisions, it is clear that in a case where search and seizure operation has been conducted under section 132 of the Act or books

ASSITANT COMMISSIONER OF INCOME TAX, KAUTILYA BHAVAN BANDRA MUMBAI vs. TATA EDUCATION TRUST, MUMBAI

In the result, appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Girish Agrawal

section 10(35) of Rs. 10,55,57,797/- towards dividend income. According to the ld. AO the said income should have been offered as income for object of the trust. Thus, he recorded that there is a failure on the part of the assessee to make full and true disclosure of the AY 2009-10 relevant material

TATA EDUCATION TRUST ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION) CIRCLE 2(1) , MUMBAI

In the result, appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Girish Agrawal

section 10(35) of Rs. 10,55,57,797/- towards dividend income. According to the ld. AO the said income should have been offered as income for object of the trust. Thus, he recorded that there is a failure on the part of the assessee to make full and true disclosure of the AY 2009-10 relevant material

TATA EDUCATION TRUST ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 17(3), MUMBAI

In the result, appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Girish Agrawal

section 10(35) of Rs. 10,55,57,797/- towards dividend income. According to the ld. AO the said income should have been offered as income for object of the trust. Thus, he recorded that there is a failure on the part of the assessee to make full and true disclosure of the AY 2009-10 relevant material

THE SYNTHETIC & ART SILK MILLS RESEARCH ASSOCIATION,MUMBAI vs. CIT (EXEM), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Smt. Kavitha Rajagopal, Jm & Ms Padmavathy S, Am

reassessment proceedings under section 147 of the Act, the alternate claim of exemption under section 10(21) is made

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

reassessment order passed under section \n143(3) read with section 147 of the Income Tax Act (‘the \nAct’) as valid. \n2. The CIT(A) failed to appreciate the fact that in the reasons \nrecorded, the AO has not disclosed any specific non- \nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834, \n2827

ACIT 25(1), MUMBAI vs. AMBER ENTERPRISES, MUMBAI

In the result, the appeal filed by Revenue is dismissed

Bench: Shri R.C.Sharma, Am & Shri, Amarjit Singh Jm Acit 25(1) Vs. M/S. Amber Enterprises Mumbai – 400 051 7, Taren Compound Behind Krishna Hotel Dahisar (E) Mumbai – 400 068 Pan/Gir No. Aalfa3071G Appellant) .. Respondent)

section 139(5) and therefore it was invalid and on this ground reassessment proceedings cannot be initiated.” ii. 276 ITR 165 Gujarat S, R. Koshti V/s. CIT As held in this case, if the assessee is in a position to show that he has been over assessed regard less of whether over assessment is a result of assessee

KONARK STRUCTURAL ENGG PRIVATE LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-12, MUMBAI

In the result, the appeal of assessee is allowed

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

Section 36(1)(viia) and in respect of foreign exchange rate difference. Neither in the first order of reassessment dated 22 February 2000 nor in the second order of reassessment dated 26 March 2002 were these aspects determined. In other words on the aforesaid three issues, the original order of assessment dated 10 March

ASSTT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3, THANE vs. M/S. AMEYA BUILDERS & PROPERTY DEVELOPERS, MUMBAI

10) on the income embedded on 'on money' receipt without appreciating the fact that new claim of deduction or allowance cannot be made during reassessment / assessment under section

M/S. AMEYA BUILDERS & PROPERTY DEVELOPERS,MUMBAI vs. ASSTT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3, THANE

10) on the income embedded on 'on money' receipt without appreciating the fact that new claim of deduction or allowance cannot be made during reassessment / assessment under section