JAYDEEP PROFILES PVT. LTD.,MUMBAI vs. ITO WD 6 (3)(2), MUMBAI

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2009-10 Income Tax Officer 6(3)(2), Jaydeep Profiles P. Ltd., R No.503, 5Th Floor, Aayakar 142/7 Lakdi Bunder Road, बनाम/ Bhavan, M.K.Road, Darukhana, Reay Road, Vs. Mumbai 400 020 Mumbai 400 086 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacj8998B Assessment Year: 2009-10 Jaydeep Profiles P. Ltd., Income Tax Officer 6(3)(2), 142/7 Lakdi Bunder Road, R No.503, 5Th Floor, Aayakar बनाम/ Darukhana, Reay Road, Bhavan, M.K.Road, Vs. Mumbai 400 086 Mumbai 400 020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacj8998B 2 & 2698/Mum/2016

Section 158B(b) as amended by the Finance Act, 2002 with retrospective effect from 1st July, 1995. The said provision is reproduced below: "158B--In this Chapter, unless the context otherwise requires,-- (a)......:.... (b) "undisclosed income" includes any money, bullion, jewellery or other valuable article or thing or any income based on any entry in the books of account

ITO 6(3)(2), MUMBAI vs. JAYDEEP PROFILES P.LTD, MUMBAI

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2009-10 Income Tax Officer 6(3)(2), Jaydeep Profiles P. Ltd., R No.503, 5Th Floor, Aayakar 142/7 Lakdi Bunder Road, बनाम/ Bhavan, M.K.Road, Darukhana, Reay Road, Vs. Mumbai 400 020 Mumbai 400 086 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacj8998B Assessment Year: 2009-10 Jaydeep Profiles P. Ltd., Income Tax Officer 6(3)(2), 142/7 Lakdi Bunder Road, R No.503, 5Th Floor, Aayakar बनाम/ Darukhana, Reay Road, Bhavan, M.K.Road, Vs. Mumbai 400 086 Mumbai 400 020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacj8998B 2 & 2698/Mum/2016

Section 158B(b) as amended by the Finance Act, 2002 with retrospective effect from 1st July, 1995. The said provision is reproduced below: "158B--In this Chapter, unless the context otherwise requires,-- (a)......:.... (b) "undisclosed income" includes any money, bullion, jewellery or other valuable article or thing or any income based on any entry in the books of account

SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED ,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX (CENTRAL),-4, MUMBAI

In the result, the appeal of the assessee is allowed

reassessment order dated 09/12/2019. Hence, the revision order passed by the ld. PCIT u/s.263 of the Act is hereby quashed. 13 M/s. Shapoorji Pallonji and Company Pvt. Ltd., 3.11. Even on merits, we find that the ld. PCIT had not conclusively stated as to whether the provision for foreseeable loss is an unascertained liability warranting to be added back while

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

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

MITHALAL D MUTHA,MUMBAI vs. ITO WD 16(3)(1), MUMBAI

The appeal of the assessee is dismissed as already a justified view has been taken by the Ld

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2009-10

reassessment was held to be valid. In the case of Convergys Customer Management v. Asst. DIT, (2013) 357 ITR 177 (Del), where there being prima facie material in the possession of the Assessing Officer to form a tentative belief that section 9(1)(i) held attracted, said reason by itself constituted a relevant ground to reopen the assessment

CROMPTON GREAVES LTD,MUMBAI vs. CIT -6, MUMBAI

In the result, the appeals filed by the assessee company in ITA no

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kochar"ी शैल" कुमार यादव, "या"यक सद"य एवं "ी "ी रिमत कोचर, लेखाकार सद"य के सम" । आयकर अपील सं./I.T.A. No. 1994/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 2836/Mum/2014 ("नधा"रण वष" / Assessment Year : 2007-08) M/S Crompton Greaves बनाम/ Cit – 6,Mumbai, Ltd.,6Th Floor, C.G. House, 5Th Floor, V. Dr. A.B. Road, Worli, Aayakar Bhavan, Mumbai – 400 030. M.K. Road, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaacc3840K .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By Shri Pradeep N. Kapasi Revenue By : Shri C.W. Angolkar सुनवाई क" तार"ख /Date Of Hearing : 29-10-2015 घोषणा क" तार"ख /Date Of Pronouncement : 01-02-2016

reassessment under sub-section (3) of section 92CD;] (c) an order made under section 154 or section 155 having the effect of enhancing the assessment or reducing a refund or an order refusing to allow the claim made by the assessee under either of the said sections [***] [except an order referred to in sub-section (12) of section 144BA

DCIT 3(3)(1), MUMBAI vs. SATYA SECURITIES LTD, MUMBAI

Accordingly, the appeal by the Revenue is dismissed, while the petition under Rule 27 of ITAT Rules, 1963, as filed by the assessee for the assessment year 2008–09, is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

273 Taxman 332 (Delhi), Hon’ble Delhi High Court dealt with the facts wherein the first appellate authority had decided jurisdictional challenge to proceedings initiated under section 153C of the Act against the assessee, while on merits appeal was decided in favour of Satya Securities Ltd. ITAs No.6669 and 6673/Mum./20116 assessee. In appeal by the Revenue against the findings

DCIT 3(3)(1), MUMBAI vs. SATYA SECURITIES LTD, MUMBAI

Accordingly, the appeal by the Revenue is dismissed, while the petition under Rule 27 of ITAT Rules, 1963, as filed by the assessee for the assessment year 2008–09, is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

273 Taxman 332 (Delhi), Hon’ble Delhi High Court dealt with the facts wherein the first appellate authority had decided jurisdictional challenge to proceedings initiated under section 153C of the Act against the assessee, while on merits appeal was decided in favour of Satya Securities Ltd. ITAs No.6669 and 6673/Mum./20116 assessee. In appeal by the Revenue against the findings

M/S.GEETANJALI SPACE PRIVATE LIMITED,MUMBAI vs. DY. CIT CC-1(1), MUMBAI

In the result, the appeal of the assessee is allowed and that of the Revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2010-11

reassessment unless some incriminating material concerning those issues were found during the course of search. Otherwise, in the concluded assessments which have been reopened u/s 153A, the assessing officer should restrict himself with the additions arising out of the incriminating materials found during the course of search." 20.21 In the case of Viraj Forgings Ltd. vs. DOT [ITA No. 1948/M/2008

NITIN P. CHHEDA,MUMBAI vs. ITO 23(1)(3), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad, Hon'Ble

273 (SB) 2. CIT vs. Jai Shiv Shankar Traders, 383 ITR 448 (Del) 3. Alpine Electronics vs. Director General Income Tax, 341 ITR 247. 10. The ld. D.R., on the other hand, has contended before us that non- issuance of notice under section 143(2) of the Act before completion of the assessment under section 147/148 of the Act will

NITIN P. CHHEDA,MUMBAI vs. ITO 23(1)(3), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad, Hon'Ble

273 (SB) 2. CIT vs. Jai Shiv Shankar Traders, 383 ITR 448 (Del) 3. Alpine Electronics vs. Director General Income Tax, 341 ITR 247. 10. The ld. D.R., on the other hand, has contended before us that non- issuance of notice under section 143(2) of the Act before completion of the assessment under section 147/148 of the Act will

ASGAR MOHAMMED HUSSAIN GHADIALI,MUMBAI vs. ITO 17(1)(2), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Bleshri Asgar Mohammed Hussain Ghadiali V. Income Tax Officer – 17(1)(2) Gem Time Trading, 59 Nakhoda Street Aayakar, Mumbai New Vora’S Malo, 3Rd Floor, Room No. 24 Mumbai – 400 003 & M/S. Kagalwala & Associates Pan: Aappk 4042 B (Assessee) (Respondent) Assessee By : Shri Dr. K. Shivram & Shri Rahul K. Hakani Department By : Shri Satish Chandra Rajore

273 (SB) 2. CIT vs. Jai Shiv Shankar Traders, 383 ITR 448 (Del) 3. Alpine Electronics vs. Director General Income Tax, 341 ITR 247. 10. The ld. D.R., on the other hand, has contended before us that non- issuance of notice under section 143(2) of the Act before completion of the assessment under section 147/148 of the Act will

MRS.PRABHABEN K. GALA,MUMBAI vs. ITO WARD-23(1)(3), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad, Hon'Ble

273 (SB) 2. CIT vs. Jai Shiv Shankar Traders, 383 ITR 448 (Del) 3. Alpine Electronics vs. Director General Income Tax, 341 ITR 247. 10. The ld. D.R., on the other hand, has contended before us that non- issuance of notice under section 143(2) of the Act before completion of the assessment under section 147/148 of the Act will

MRS.PRABHABEN K. GALA,MUMBAI vs. ITO WARD-23(1)(3), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad, Hon'Ble

273 (SB) 2. CIT vs. Jai Shiv Shankar Traders, 383 ITR 448 (Del) 3. Alpine Electronics vs. Director General Income Tax, 341 ITR 247. 10. The ld. D.R., on the other hand, has contended before us that non- issuance of notice under section 143(2) of the Act before completion of the assessment under section 147/148 of the Act will

LESHARK GLOBAL LLP ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, all the appeals for A

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

section 2(24)(xviii) of the Act. In respect of the FPS, the ld. Counsel relied on the decision of the ITAT Chennai Bench in the case of Eastman Exports Global Clothing Pvt. Ltd. in ITA No. 47/MDS/2016(AYs 2011-12 and 2012-13) dated 17.05.2016 and the ITAT Delhi in the case of Bharat Rasayan