DCIT 2 2 1, MUMBAI vs. YES BANK LIMITED, MUMBAI

In the result, the appeal of the assessee bearing ITA No

Bench: Shrinarendra Kumar Billaiya & Shri Anikesh Banerjeeyes Bank Limited Vs Additional Commissioner Of Income Yes Bank House, 8Th Floor, Tax (Appeals), Panchkula Prabhat Colony, Off Western Express Highway, Santacruz East, Mumbai-400 055 Pan : Aaacy2068D Appellant Respondent Additional Commissioner Of Vs Yes Bank Limited Yes Bank House, 8Th Floor Income Tax (Appeals), Panchkula Prabhat Colony, Off Western Express Highway, Santacruz East, Mumbai-400 055 Pan : Aaacy2068D Appellant Respondent

17,37,64,891/- as consequential in nature. 3 ITA 1093/Mum/2025 ITA 992/Mum/2025 Yes Bank Ltd 2. The Hon’ble JCIT(A) failed to appreciate and ought to have held that interest u/s 234C is chargeable on returned income. 3. The Appellant prays that the interest u/s 234C of the Act be computed at Rs. 7,38,54,250/ which

DCIT, MUMBAI vs. J KUMAR INFRAPROJECTS LIMITED, MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

DCIT CC 5-1, MUMBAI, MUMBAI vs. J KUMAR INFRAPROJECTS LIMITED , MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

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

reassessment are being adjudicated. 7. In the additional ground (listed as ground No. 9 ), the assessee has challenged validity of notice issued under section 148 of the Act. 8. We have heard rival submission of the parties on the issue in dispute and perused the relevant material on record. For adjudication of the ground, it is relevant to reproduce

M/S.VIBGYOR TEXOTECH PRIVATE LIMITED,MUMBAI vs. ACIT-8(3)(2), 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

reassessment are being adjudicated. 7. In the additional ground (listed as ground No. 9 ), the assessee has challenged validity of notice issued under section 148 of the Act. 8. We have heard rival submission of the parties on the issue in dispute and perused the relevant material on record. For adjudication of the ground, it is relevant to reproduce

NERKA CHEMICALS P. LTD,GUJRAT vs. ASST CIT CEN CIR 38, MUMBAI

In the result this ground of appeal is allowed for statistical purpose

Bench: Shri R.C. Sharma, Accountant Mamber & Shri Pawan Singh

reassessment proceedings was not properly scrutinized by the AO. Further, the CIT (A) and Tribunal decided the case without examining the information submitted before them by the assessee. In this context, it was held by the High Court that the CIT (A) and Tribunal ought to have made further enquiry into the transaction entered into by the assessee if deemed

HITESH CHHATWAL,MUMBAI vs. DCIT CC -5(4), MUMBAI

In the result, the appeals of the assessee are allowed while for the appeal of the revenue are dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

va). This has been dealt in para 15 of the assessment order. In the assessment proceedings, the AO noted that in the return of income, the assessee had disclosed long term capital gains of Rs.17,77,77,777/from the shares of Viraj Profiles against which the assessee had claimed deduction u/s.54F for a sum of Rs.11

NITAN CHHATWAL,MUMBAI vs. DCIT CC -5(4), MUMBAI

In the result, the appeal of the assessee in ITA

Bench: Shri Rajesh Kumar, Am & Shri Ravish Sood, Jm

17. The facts of the case in brief are that the A.O. received information that the assessee has disclosed the sale price of immovable property lower than the stamp duty valuation by Rs.24,08,125/- and, therefore, the provisions of section 50C of the Act are applicable. Accordingly, the A.O. issued show cause notice

DCIT-CC-5(4), MUMBAI, MUMBAI vs. SHRI NITAN CHHATWAL , MUMBAI

In the result, the appeal of the assessee in ITA

Bench: Shri Rajesh Kumar, Am & Shri Ravish Sood, Jm

17. The facts of the case in brief are that the A.O. received information that the assessee has disclosed the sale price of immovable property lower than the stamp duty valuation by Rs.24,08,125/- and, therefore, the provisions of section 50C of the Act are applicable. Accordingly, the A.O. issued show cause notice

ASSISTANT COMMISSIONER OF INCOME TAX RANGE- 9(1)(1), MUMBAI vs. M/S.ABHISHEK MILLENNIUM CONTRACTS PRIVATE LIMITED, MUMBAI

In the result, the present appeal is dismissed

reassessment proceedings were initiated based upon the information received from Sales Tax (VAT) Department, State of Maharashtra under Section 147 of the Act. The Assessing Officer (AO) framed assessment under Section 143(3) read with section 147 of the Act vide order, dated 30.03.2015 assessing total income at INR 9,29,24,980/- after making, inter alia, (a) an addition

DCIT-CC.3(3), CENTRAL RANGE-3 MUMBAI, MUMBAI vs. M/S. ORICON ENTERPRISES LTD. , MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajesh Kumar & Shri Ravish Soodm/S Oricon Enterprises Limited Dy. Commissioner Of Income-Tax – Cc-3(3),Mumbai Vs. 1076, Dr. E Moses Road, Worli, Air India Building, 19Th Floor, Mumbai – 400 018 Mumbai - 400 020

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001. 13. Rule 8D of the Income Tax Rules provides the methods for determining the amount of expenditure

M/S. ORICON ENTERPRISES LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-CC-3(3), MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajesh Kumar & Shri Ravish Soodm/S Oricon Enterprises Limited Dy. Commissioner Of Income-Tax – Cc-3(3),Mumbai Vs. 1076, Dr. E Moses Road, Worli, Air India Building, 19Th Floor, Mumbai – 400 018 Mumbai - 400 020

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001. 13. Rule 8D of the Income Tax Rules provides the methods for determining the amount of expenditure

THE DY CIT CC-38, MUMBAI vs. M/S. UNITED PHOSPHOUROUS LTD., MUMBAI

Bench: Shri Amit Shukla & Smt.Renu Jauhri, Accountan Member

va) has not been considered for disallowance under section 43B. 11.2. In Note No. 4 of the notes to computation of total income filed with the original return, it was submitted that clause (b) of section 43B is not attracted to employer's contribution to ESIC relying on the decision of the Income-tax Appellate Tribunal, Cochin Bench

AAACORP EXIM INDIA PRIVATE LIMITED,MUMBAI vs. D.C.I.T.-CIRCLE-14(1)(1), MUMBAI

In the result the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Gagan Goyal & Aaa Corp Exim India Pvt. Ltd. C-206, Ghatkopar Industrial Estate, Off Lbs Marg, Ghatkopar (W), Mumbai-400 086 Pan: Aacca8815C ...... Appellant Vs. Dcit-14(1)(1) Income Tax Offices, Aayakar Bhavan, M. K. Road, Mumbai-400 020 ..... Respondent

17,580/- u/s. 234B of the act. 3. On the facts and in the circumstances of the case and in law, the learned A.O. erred in charging interest of Rs.1, 23,766/- u/s. 234C of the act. The appellant craves leave to add, alter, amend and/or delete any or all of the grounds of appeal. 2. The brief facts

DY. COMMISSIONER OF INCOME TAX CIRCLE 13(2)(2), MUMBAI vs. SODEXO FACILITIES MANAGEMENT SERVICES INDIA PVT LTD, MUMBAI

In the result, the appeal filed by Revenue is partly allowed for statistical purposes

Bench: Shri Om Prakash Kant & Ms.Kavitha Rajagopaldcit, Sodexo Facilities Circle-13(2)(2), Management Services बनाम/ Mumbai. India Pvt.Ltd., 1St Floor, Vs. Gemstar Commercial Complex, Ramchandra Lane, Extension Kanchpada, Malad West, Mumbai-400064. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aabcs4166M (अपीलाथ"/Appellant) (""थ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri A.N.Bhalekar, Sr.Ar ""थ" की ओर से/Respondent By: Shri Mrunal Parekh सुनवाई की तारीख/ Date Of Hearing 16/05/2023 घोषणा की तारीख /Date Of Pronouncement 25/05/2023 आदेश / Order Per Om Prakash Kant- Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 20.09.2022 Passed By Ld Commissioner Of Income-Tax (Appeals)-National Faceless Appeal Centre, Delhi [“In Short The Ld. Cit(A)”]For Assessment Year (“Ay”) 2012-13, Raised Following Grounds: -

reassessment proceedings mainly on the ground that there was a “full and true disclosure” on the part of the assessee and the AO has reopened the assessment merely on the basis of change of opinion. But the facts of the present case, we find that in case of the slump sale u/s 50B(3) of the Act, it is prescribed

ASSTT. COMMISSIONER OF INCOME TAX CENTRAL-CIRCLE-2(1), MUMBAI vs. M/S GM MODULAR PVT LTD, MUMBAI

In the result, application

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

reassessment passed u/s 153A of the Act, utilizing material found utilizing material found during the course of the search at third party i.e. Director of the during the course of the search at third party i.e. during the course of the search at third party i.e. assessee company, by company, by way of an application under Rule