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)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

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)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

DCIT CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. SHIVSHANKAR RAMSWAROOP SHARMA, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found

SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found

SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found

DCIT, CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. SHIV SHANKAR SHARMA, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found

DCIT, CENTRAL CIRCLE - 8 (1), MUMBAI, MUMBAI vs. SHIV SHANKAR SHARMA, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found

SHRI SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found

SHIV SHANKAR SHARMA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs.50 lakhs and the same was found

SHRI SHIV SHANKAR SHARMA ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs.50 lakhs and the same was found

SHIV SHANKAR SHARMA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs.50 lakhs and the same was found

SHRI SHIV SHANKAR SHARMA ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs.50 lakhs and the same was found

SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs.50 lakhs and the same was found

SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

197(c) to Finance Act 2016 which empower to tax any undisclosed assets wherever such assets come to the notice of the assessing officer. The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs.50 lakhs and the same was found

DCIT CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. SHIVSHANKAR RAMSWAROOP SHARMA, MUMBAI

197(c) to Finance Act 2016 which empower to tax any\nundisclosed assets wherever such assets come to the notice of\nthe assessing officer. The said provision, based on various\nrepresentation, was repealed from the statue and this new\nsection was introduced which can be invoked when income\nescaped is more than Rs.50 lakhs and the same was found

DCIT, CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. SHIVSHANKAR RAMSWAROOP SHARMA, MUMBAI

197(c) to Finance Act 2016 which empower to tax any\nundisclosed assets wherever such assets come to the notice of\nthe assessing officer. The said provision, based on various\nrepresentation, was repealed from the statue and this new\nsection was introduced which can be invoked when income\nescaped is more than Rs.50 lakhs and the same was found

SKYLARK BUILD,MUMBAI vs. ASST CIT CEN CIR 4(2), MUMBAI

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

section 153C of LT. Act, 1961 can be initiated in respect to person other than searched only if incriminating material belonging to such person has been found and seized from the premises of person searched. No incriminating documents found at the person searched being M/s. Artefact Projects Ltd. no valid proceedings under section 153C of IT Act, 1961 could have

DCIT CEN CIR 4(2), MUMBAI vs. SUDHAKAR M. SHETTY, MUMBAI

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

section 153C of LT. Act, 1961 can be initiated in respect to person other than searched only if incriminating material belonging to such person has been found and seized from the premises of person searched. No incriminating documents found at the person searched being M/s. Artefact Projects Ltd. no valid proceedings under section 153C of IT Act, 1961 could have