THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(2)(2), MUMBAI

reassess such income and\nalso any other income chargeable to tax which has escaped\nassessment and which comes to his notice subsequently in\nthe course of the proceedings under this section, or\nrecompute the loss or the depreciation allowance or any\nother allowance, as the case may be, for the assessment\nyear concerned (hereafter in this section and in sections

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX , INCOME TAX OFFICER, NFAC, MUMBAI

Accordingly, in terms of the aforesaid, Ground No. 3 to\n7 raised by the Assessee pertaining to merits of such\nadditions/disallowances are dismissed as having been rendered\ninfructuous

Bench: "CLEAN_TEXT": "IN THE INCOME TAX APPELLATE TRIBUNAL\n\"I\" BENCH, MUMBAI\n\nSHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER\nSHRI RAHUL CHAUDHARY (Judicial Member)

reassess such income and\nalso any other income chargeable to tax which has escaped\nassessment and which comes to his notice subsequently in\nthe course of the proceedings under this section, or\nrecompute the loss or the depreciation allowance or any\nother allowance, as the case may be, for the assessment\nyear concerned (hereafter in this section and in sections

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

Accordingly, in terms of the aforesaid, Ground No. 3 to\n7 raised by the Assessee pertaining to merits of such\nadditions/disallowances are dismissed as having been rendered\ninfructuous

reassess such income and\nalso any other income chargeable to tax which has escaped\nassessment and which comes to his notice subsequently in\nthe course of the proceedings under this section, or\nrecompute the loss or the depreciation allowance or any\nother allowance, as the case may be, for the assessment\nyear concerned (hereafter in this section and in sections

MAHARASHTRA STATE ELECTRICITY TRANSMISSION COMPANY LTD.,,MUMBAI vs. THE INCOME TAX OFFICER, WARD-14(2)(3), MUMBAI

In the result, the appeal of the assessee is al

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2011-12 Maharashtra State Electricity Income-Tax Officer, Ward Transmission Company Ltd., 14(2)(3), Plot No. C-19 E Block, Vs. Aayakar Bhavan, Maharshi Prakashganga, Bandra-Kurla Karve Road, Complex, Bandra (East), Mumbai-400020. Mumbai-400051. Pan No. Aaecm 2936 N Appellant Respondent Assessee By : Mr. Ketan Ved, Ar Revenue By : Mr. Harishankar Lal, Dr : Date Of Hearing 15/11/2022 Date Of Pronouncement : 29/12/2022

142(1) r/w 143(2), which finally culminated in the assessment order dated 30th December culminated in the assessment order dated 30th December culminated in the assessment order dated 30th December 2008 under section 143(3). It is therefore e 2008 under section 143(3). It is therefore evident that vident that Respondent No. 1 after passing the original assessment

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

reassessment order framed by the AO under section 143(3) r.w.s 147 of the Act. We find that during original assessment proceedings the issue of share application and share premium was very much the subject matter of enquiry by the AO and Ld. AO specifically enquired by issuing notice under section 142

THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(2), MUMBAI

reassess such income and \nalso any other income chargeable to tax which has escaped \nassessment and which comes to his notice subsequently in \nthe course of the proceedings under this section, or \nrecompute the loss or the depreciation allowance or any \nother allowance, as the case may be, for the assessment \nyear concerned (hereafter in this section and in sections

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

reassess such income and \nalso any other income chargeable to tax which has escaped \nassessment and which comes to his notice subsequently in \nthe course of the proceedings under this section, or \nrecompute the loss or the depreciation allowance or any \nother allowance, as the case may be, for the assessment \nyear concerned (hereafter in this section and in sections

MANOHAR MANAK ALLOYS P.LTD,MUMBAI vs. ACIT 4(2), MUMBAI

Appeal is allowed

reassessment‘. Section 143, as a whole, is a provision regarding assessment. The modalities and procedure for assessment have been provided for in sub- section (1), which is different from the procedure under sub- section (2) read with sub-section (3) of the same provision. In both cases, it is a proceeding under the Act and the assessment accepted or made

THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(2)(2), MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

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

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

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

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

THE NEW INDIA ASSURANCE CO LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(2)(2), MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

METROPOLITAN STOCK EXCHANGE OF INDIA PRIVATE LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX - 14, MUMBAI

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

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

reassessment. Insertion of explanation 3 to section 147 of the Act does not alter the bar of limitation under section 263(2) of the Act. This view is supported by following judicial decision: CIT vs ICICI Bank Ltd. [2012] 19 taxmann.com 142

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

reassess such income and \nalso any other income chargeable to tax which has escaped \nassessment and which comes to his notice subsequently in \nthe course of the proceedings under this section, or \nrecompute the loss or the depreciation allowance or any \nother allowance, as the case may be, for the assessment \nyear concerned (hereafter in this section and in sections

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(2), MUMBAI

reassess such income and\nalso any other income chargeable to tax which has escaped\nassessment and which comes to his notice subsequently in\nthe course of the proceedings under this section, or\nrecompute the loss or the depreciation allowance or any\nother allowance, as the case may be, for the assessment\nyear concerned (hereafter in this section and in sections

ESTATE OF VANDRAVAN P SHAH,MUMBAI vs. ASSISTANT COMISSIONER OF INCOME TAX, CIRCLE 19(3), MUMBAI

In the result all the three captioned appeals are dismissed

Bench: Sandeep Gosain () & Shri Om Prakash Kant ()

3) r.w.s. 147 of on 20.12.2018 under the name as the legal heir of legal heir of late sh the Act on 20.12.2018 under the name as the Vandravan P. Shah Vandravan P. Shah, having PAN No. AARPSS9053J AARPSS9053J of the deceased. 4.7 The appeal was filed against the assessment order was filed against the assessment order was filed against

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(2)(2), MUMBAI

reassess such income and\nalso any other income chargeable to tax which has escaped\nassessment and which comes to his notice subsequently in\nthe course of the proceedings under this section, or\nrecompute the loss or the depreciation allowance or any\nother allowance, as the case may be, for the assessment\nyear concerned (hereafter in this section and in sections

INCOME TAX OFFICER 8(3)(3), MUMBAI vs. M/S.VIBGYOR TEXOTECH PRIVATE LIMITED, MUMBAI

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

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

142 or under sub-section (1) of section 115WH or under section 148 for the making of the return or by the notice under the first proviso to section 115WF or under the first proviso to section 144] to show cause why the assessment should not be completed to the best of the judgment of the Assessing Officer, whichever