DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI, MUMBAI vs. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA, MUMBAI

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

reassessment proceedings the AO has no answer to the claim of the Assessee in this regard and has merely observed in his order that there is no evidence produced by the Assessee. The book entries and the return of income before the AO are enough evidence to come to the conclusion that the amount in question was not claimed

DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI , MUMBAI vs. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA, MUMBAI

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

reassessment proceedings the AO has no answer to the claim of the Assessee in this regard and has merely observed in his order that there is no evidence produced by the Assessee. The book entries and the return of income before the AO are enough evidence to come to the conclusion that the amount in question was not claimed

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(3)(1),MUMBAI, MUMBAI

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

reassessment proceedings the AO has no answer to the claim of the Assessee in this regard and has merely observed in his order that there is no evidence produced by the Assessee. The book entries and the return of income before the AO are enough evidence to come to the conclusion that the amount in question was not claimed

DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI, MUMBAI vs. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA, MUMBAI

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

reassessment proceedings the AO has no answer to the claim of the Assessee in this regard and has merely observed in his order that there is no evidence produced by the Assessee. The book entries and the return of income before the AO are enough evidence to come to the conclusion that the amount in question was not claimed

INCOME TAX OFFICER (IT)-3(2)(1), KAUTILYA BHAWAN vs. SHAPOORJI PALLONJI MISTRY, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawal

reassessment or recomputation, as the case may be.] (2) The provisions of sub-section (1) as to the issue of notice shall be subject to the provisions of section 151.) 13

KUDOS FINANCE AND INVESTMENT PVT LTD,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX-6, MUMBAI

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

reassess the income after granting the Assessee a reasonable opportunity of being heard. It is clarified that the scope of the aforesaid verification/inquiry shall be restricted to the provision contained in Section 143(1) of the Act. Accordingly, the order passed by the Learned PCIT stands clarified/modified as aforesaid and scope of inquiry/verification in respect of deduction claimed for „Provision

INCOME TAX OFFICER (INTERNATIONAL TAXATION) 3(2)(1), KAUTILYA BHAWAN MUMBAI vs. SHAPOORJI PALLONJI MISTRY, MUMBAI

In the result, both appeals by the Revenue are dismissed and the\ntwo Cross Objections of the assessee are allowed

13-15\nfor reasons\n3. 19th January\n2022\nNotice u/s 142(1) of the Act\n16-18\n4. 10th February\n2022\nNotice u/s143(2)\nr.w.s 147 providing 19-28\nreasons for reopening\n5. 16th February\n2022\nNotice u/s 142(1) of the Act\n29-30\n6. 1st March 2022\nObjection filed\nreopening for\nreassessment\nwith respect

ITO(IT)-3(2)(1), MUMBAI vs. SHAPOORJI PALLONJI MISTRY, MUMBAI

In the result, both appeals by the Revenue are dismissed and the\ntwo Cross Objections of the assessee are allowed

13-15\nfor reasons\n3.\n19th January\n2022\nNotice u/s 142(1) of the Act\n16-18\n4.\n10th February\n2022\nNotice u/s143(2)\nr.w.s 147 providing 19-28\nreasons for reopening\n5.\n16th February\n2022\nNotice u/s 142(1) of the Act\n29-30\n6.\n1st March 2022\nObjection filed\nreopening for\nreassessment\nwith\nrespect

SHAILESH ASALRAJ JAIN,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, MUMBAI 20, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2018-19

reassessment cannot be examined in proceedings arising from section 263 is devoid of merit. It is well- proceedings arising from section 263 is devoid of merit. proceedings arising from section 263 is devoid of merit. settled that a jurisdictional defect strikes at the foundation of settled that a jurisdictional defect strikes at the foundation of settled that a jurisdictional defect

M/S THE MAHARASHTRA STATE CO. OP BANK LTD.,MUMBAI vs. ITO-1(3)(3), MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

13,11,50,048/- under section 36(1)(vii) of the Act, under section 36(1)(vii) of the Act, M/s The Maharashtra State Co-op. Bank Ltd. M/s The Maharashtra State Co ITA Nos. 3878 & 3916/Mum/2019 (including opening (including opening credit balance of the provision of the bad credit balance of the provision of the bad debts created

DY CIT-1(3)(2), MUMBAI vs. MAHARASHTRA STATE CO-OPERATIVE BANK LIMITED, MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

13,11,50,048/- under section 36(1)(vii) of the Act, under section 36(1)(vii) of the Act, M/s The Maharashtra State Co-op. Bank Ltd. M/s The Maharashtra State Co ITA Nos. 3878 & 3916/Mum/2019 (including opening (including opening credit balance of the provision of the bad credit balance of the provision of the bad debts created

ACIT 32 1, MUMBAI vs. VIDHI ENTERPRISES, MUMBAI

In the result, the appeal of the assessee is partly allowed for In the result, the appeal of the assessee is partly allowed for statistical purposes whereas appeal of the Revenue is dismissed

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

reassess the income in respect of any issue, which has escaped the income in respect of any issue, which has escaped the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in ment, and such issue comes to his notice subsequently in ment, and such issue comes to his notice subsequently

VIDHI ENTERPRISES,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, MUMBAI

In the result, the appeal of the assessee is partly allowed for In the result, the appeal of the assessee is partly allowed for statistical purposes whereas appeal of the Revenue is dismissed

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

reassess the income in respect of any issue, which has escaped the income in respect of any issue, which has escaped the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in ment, and such issue comes to his notice subsequently in ment, and such issue comes to his notice subsequently

SHREE SAI BABA SANTHAN TRUST MUMBAI ,MUMBAI vs. DCIT(EXEMPTION), MUMBAI

In the result, the appeal filed by the assessee is allowed and the\nappeal of the Revenue is dismissed

1)(d)(iia) of the IT Act. In the writ petition filed by the\nassessee challenging the reopening of assessment of AY 2014-15, the\nHon'ble jurisdictional Bombay High Court allowed the writ petition of the\nassessee and quashed the reassessment notice issued by the AO for AY\n2014-15. The gist of reasoning given

DY COMMISSIONER OF INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST (SHIRDI), MUMBAI

In the result, the appeal filed by the assessee is allowed and the\nappeal of the Revenue is dismissed

1)(d)(iia) of the IT Act. In the writ petition filed by the\nassessee challenging the reopening of assessment of AY 2014-15, the\nHon'ble jurisdictional Bombay High Court allowed the writ petition of the\nassessee and quashed the reassessment notice issued by the AO for AY\n2014-15. The gist of reasoning given

JCIT CENT. CIR. - 1(4), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

The appeal of the Revenue is dismissed whereas appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2010-11 Grasim Industries Limited, The Dcit Cc-1(4), Corporate Finance Division, Room No. 902, 9Th Floor, Old Vs. A-2, Aditya Birla Centre, S.K. Cgo Building, M.K. Road, Ahire Marg, Worli, Mumbai-400020. Mumbai-400030. Pan No. Aaacg 4464 B Appellant Respondent Assessment Year: 2010-11 Jcit (Osd), Central Circle- Grasim Industries Limited, 1(4), A-Wing, 2Nd Floor, Aditya Room No. 902, Pratishtha Vs. Birla Centre, S.K. Ahire Bhavan, 9Th Floor, Old Cgo Marg, Worli, Building Annexe, Mumbai-400030. Mumbai-400020. Pan No. Aaacg 4464 B Appellant Respondent Assessee By : Mr. Yogesh Thar & Mr. Chaitanya Joshi Revenue By : Dr. Kishor Dhule, Cit-Dr Date Of Hearing : 03/04/2024 : Date Of Pronouncement 29/04/2024

reassessment under the provisions of section 153A/153C of the Act for the assessments/reassessments which have abated and those which the assessments/reassessments which have abated and those which the assessments/reassessments which have abated and those which have attained finality. have attained finality. 16.13 The use of the phrase 'so far as may be' in section 153(1)(a) implies 13

SURENDRA GARG HUF ,MUMBAI vs. ITO- 19(3)(4), MUMBAI

13 of the Paper book)\n\nOn the basis of above, it was submitted that the Assessee has\ndischarge the initial onus cast upon the Assessee under Section 68\nof the Act to explain nature and source of credit in the books of\naccounts of the Assessee for the relevant previous year on account\nof sale of shares

PRAFUL ARJUN RANE ,MUMBAI vs. ITO INT TAX WARD-4(1)(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI SAKTIJIT DEY, HON’BLE (Vice President), SHRI GIRISH AGRAWAL (Accountant Member)

reassessment notices for past assessment years only if the time limit survives according to Section 149(1)(b) of the old regime, that is, six years from the end of the relevant assessment year, and (iv) all notices issued invoking the time limit under Section 149(1)(b) of the old regime will have to be dropped if the income