DCIT ,CC-2(3), MUMBAI vs. BIDHICHAND K BANSAL, MUMBAI

In the result, the appeal of revenue is dismissed

Bench: Shri R C Sharma & Shri Amarjit Singhassessment Year : 2012-13 Dy Cit Central Circle 2(3), Shri Bidhichand K Bansal, Mumbai 109, Reti Bunder, Darukhana, Vs. Mumbai 400 010 Pan Aaepb8990N (Appellant) (Respondent)

reassessment under section 147. " In present case of appellant there is no finding given by ACIT CC-1(3) Ahmedabad in assessment order that unaccounted seized cash of Rs 56,00,000/- is to be taxed substantively in AY 2012-13 in hands of Mr Vijay Kumar Bansal or in hands of any other sister concerns of appellant

ACIT, CC-44, MUMBAI vs. SHILPA SUNIL MAJITHIA, MUMBAI

In the result, the Revenue’s appeals and assessee’s cross objections are dismissed

268A of the Act read with the extant circular dated 10.12.2015. The ld. AR would next contend that though the issue on merits has been decided for each of the three surviving appeals, i.e., for A.Ys. 2001-02 and 2003-04 (supra), by the Commissioner of Income Tax (Appeals) Central-II, Mumbai (‘CIT(A)’ for short) in the favour

DCIT CEN CIR 7(3), MUMBAI vs. RADHIKA CHETAN MEHRA, MUMBAI

In the result, the Revenue’s appeal is allowed for statistical purposes

268A of the Act even as its tax effect is admittedly below Rs.10 lacs, i.e., the extant threshold monetary limit specified by the latest Circular (No. 21/2015 dated 10.12.2015) issued by the Board there-under. This is as, as explained by the ld. Authorized Representative (AR) during hearing, that the instant appeal arises from the 2 Dy. CIT vs. Radhika

ASST CIT CIR 6(1)(2), MUMBAI vs. ASK INVESTMENT MANAGERS P.LTD, MUMBAI

The appeal of the Revenue is allowed for statistical

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year 2012-13 Acit M/S Ask Investment Circle-6(1)(2), Managers Pvt. Ltd. बनाम/ R. No.536, 5Th Floor, 1St Floor Bandbox House, Vs. Aayakar Bhavan, Dr. Ab Road, Worli, M. K. Road, Churchgate, Mumbai-400030 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aafca2302P Shri Nitin Waghmode-Dr राज"व क" ओर से / Revenue By "नधा"रती क" ओर से / Assessee By Shri J.D. Mistri Sr. Advocate

reassessment every year. As one reaches close to the end of the warranty period, the probability that the warranty expenses will be incurred is considerably reduced and that should be reflected in the estimation amount. Whether this should be done- through a pro - rata reversal or otherwise would require assessment of historical trend. If warranty provisions are based on experience