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 The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found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. 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 The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found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 The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found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 The said provision, based on various representation, was repealed from the statue and this new section was introduced which can be invoked when income escaped is more than Rs. 50 lakhs and the same was found

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. ADD/JOINT/DEPUTY/ACIT, NATIONAL E-ASSESSMENT CENTRE, DELHI

reassessment was completed at a\nfigure of Rs. 1336, 71, 84,430/- after certain disallowances/additions made.\n11. The assessee being aggrieved with this order of the AO preferred an appeal\nbefore the Ld. CIT(A), NFAC-Delhi, who in turn partly allowed the appeal of the\nassessee up to its satisfaction, but the Revenue being aggrieved with this order

M/S. PATANJALI FOODS LTD (FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD),MUMBAI vs. DY COMM OF INCOME TAX- CENTRAL CIRCLE-7(2), MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

reassessment, if any, relating to any assessment year falling within the period of six assessment years referred to in sub-section (1) is pending on the date of initiation of the search u/s. 132 of the Act shall abate. In the present case before us, however, though the second proviso to sub-section (1) of section 153A would not apply

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

reassessment, if any, relating to any assessment year falling within the period of six assessment years referred to in sub-section (1) is pending on the date of initiation of the search u/s. 132 of the Act shall abate. In the present case before us, however, though the second proviso to sub-section (1) of section 153A would not apply

DCIT-2(3)(1), MUMBAI vs. KOTAK MAHINDRA BANK LIMITED, MUMBAI

In the result the appeal filed by the assessee in ITA No

reassessment was completed at a\nfigure of Rs. 1336, 71, 84,430/- after certain disallowances/additions made.\n11. The assessee being aggrieved with this order of the AO preferred an appeal\nbefore the Ld. CIT(A), NFAC-Delhi, who in turn partly allowed the appeal of the\nassessee up to its satisfaction, but the Revenue being aggrieved with this order

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\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

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\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

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\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

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\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

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\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

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\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

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

Accordingly, the\naddition of Rs.1,34,64,988 made under section 68 is directed to\nbe deleted and the order of the CIT(A) is confirmed. The ground\nraised by the Revenue is dismissed

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. SHIV SHANKAR SHARMA, MUMBAI

Accordingly, the\naddition of Rs.1,34,64,988 made under section 68 is directed to\nbe deleted and the order of the CIT(A) is confirmed. The ground\nraised by the Revenue is dismissed

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