JCIT CENT. CIR. - 1(4), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

The appeal of the Revenue is dismissed whereas appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2010-11 Grasim Industries Limited, The Dcit Cc-1(4), Corporate Finance Division, Room No. 902, 9Th Floor, Old Vs. A-2, Aditya Birla Centre, S.K. Cgo Building, M.K. Road, Ahire Marg, Worli, Mumbai-400020. Mumbai-400030. Pan No. Aaacg 4464 B Appellant Respondent Assessment Year: 2010-11 Jcit (Osd), Central Circle- Grasim Industries Limited, 1(4), A-Wing, 2Nd Floor, Aditya Room No. 902, Pratishtha Vs. Birla Centre, S.K. Ahire Bhavan, 9Th Floor, Old Cgo Marg, Worli, Building Annexe, Mumbai-400030. Mumbai-400020. Pan No. Aaacg 4464 B Appellant Respondent Assessee By : Mr. Yogesh Thar & Mr. Chaitanya Joshi Revenue By : Dr. Kishor Dhule, Cit-Dr Date Of Hearing : 03/04/2024 : Date Of Pronouncement 29/04/2024

32, 40 of annexure A-1 pertaining to the assessee were 1 pertaining to the assessee were forwarded forwarded to the Assessing Officer of the assessee Assessing Officer of the assessee following due procedure of law rocedure of law. Consequently, notice u/s 153C of the Act r.w.s. 153A was issued Consequently, notice u/s 153C of the Act r.w.s. 153A

H.K. ENTERPRISES,MUMBAI vs. DY CIT-CC-2(4), MUMBAI

In the result, all the eight appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 143(3) r.w.s. 153A of the Act and determining the total income at Rs. 61,48,060/- as against returned income of Rs. 29,48,060/- filed u/s. 153A of the Act on 14-02-2019 (same as original return of income). 2. The AO has erred in law and in facts in passing the assessment order and without

H.K.ENTERPRISES,MUMBAI vs. DCIT, CENTRAL CIRCLE-2(4), MUMBAI

In the result, all the eight appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 143(3) r.w.s. 153A of the Act and determining the total income at Rs. 61,48,060/- as against returned income of Rs. 29,48,060/- filed u/s. 153A of the Act on 14-02-2019 (same as original return of income). 2. The AO has erred in law and in facts in passing the assessment order and without

H.K. ENTERPRISES,MUMBAI vs. DY CIT - CC-2(4), MUMBAI

In the result, all the eight appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 143(3) r.w.s. 153A of the Act and determining the total income at Rs. 61,48,060/- as against returned income of Rs. 29,48,060/- filed u/s. 153A of the Act on 14-02-2019 (same as original return of income). 2. The AO has erred in law and in facts in passing the assessment order and without

H.K. ENTERPRISES,MUMBAI vs. DY CIT-CC-2(4), MUMBAI

In the result, all the eight appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 143(3) r.w.s. 153A of the Act and determining the total income at Rs. 61,48,060/- as against returned income of Rs. 29,48,060/- filed u/s. 153A of the Act on 14-02-2019 (same as original return of income). 2. The AO has erred in law and in facts in passing the assessment order and without

H.K. ENTERPRISES,MUMBAI vs. DY CIT-CC-2(4), MUMBAI

In the result, all the eight appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 143(3) r.w.s. 153A of the Act and determining the total income at Rs. 61,48,060/- as against returned income of Rs. 29,48,060/- filed u/s. 153A of the Act on 14-02-2019 (same as original return of income). 2. The AO has erred in law and in facts in passing the assessment order and without

H.K. ENTERPRISES,MUMBAI vs. DY CIT -CC-2(4), MUMBAI

In the result, all the eight appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 143(3) r.w.s. 153A of the Act and determining the total income at Rs. 61,48,060/- as against returned income of Rs. 29,48,060/- filed u/s. 153A of the Act on 14-02-2019 (same as original return of income). 2. The AO has erred in law and in facts in passing the assessment order and without

H.K. ENTERPRISES,MUMBAI vs. DY CIT CC - 2(4), MUMBAI

In the result, all the eight appeals filed by the assessee are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

section 143(3) r.w.s. 153A of the Act and determining the total income at Rs. 61,48,060/- as against returned income of Rs. 29,48,060/- filed u/s. 153A of the Act on 14-02-2019 (same as original return of income). 2. The AO has erred in law and in facts in passing the assessment order and without

JAMNADAS VIRJI SHARES AND STOCK BROKERS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 4(3)(1), MUMBAI

reassessment orders, the assessee carried\nthe matter in appeal before the NFAC. The assessee reiterated\nboth jurisdictional grounds challenging the validity of reopening\nand merits of additions, and also raised grounds relating to non-\ngrant of credit for advance tax, TDS, and levy of interest. The\nCIT(A) upheld the action of the Assessing Officer by holding that:\n•\nthe

M/S SANJEEV CHIRANIA HUF,MUMBAI vs. INCOME TAX OFFICER, WARD-28(3)(1) , MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2015-16 M/S Sanjeev Chirania Huf, Ito-28(3)(1), 301, Sona Chambers, 507/509 Tower No. 6, Vashi Railway Vs. Jss Road, Chira Bazar, Station Commercial Marine Lines – East, Complex, Vashi, Mumbai-400 002. Navi Mumbai-400703 Pan No. Aarhs 4527 D Appellant Respondent Assessee By : Ms. Ritu Kamalkishor, Ar Revenue By : Mr. Milind S. Chavan, Cit-Dr : Date Of Hearing 23/03/2023 : Date Of Pronouncement 31/03/2023 Order

reassessment u/s 147 of the Act was completed on 27.03.2022 wherein the total income was was completed on 27.03.2022 wherein the total inc was completed on 27.03.2022 wherein the total inc assessed at Rs.4,88,05,223/ assessed at Rs.4,88,05,223/-. In view of the assesse . In view of the assessed income, the Assessing Officer

ITO-28(3)(1), MUMBAI, MUMBAI vs. SATYA PRAKASH SINGH, MUMBAI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

reassessment order is already examined in the original assessment order and thereby, now amounts to change of opinion. (d) The Ld. CIT(A) also erred in law in not appreciating that the approval granted by the superior authority is mechanical and without application of mind rendering the reopening invalid. 2. (a) The ld.CIT(A) erred in facts

MR. SATYA PRAKASH SINGH,MUMBAI vs. ITO, WARD-28(3)(1), VASHI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

reassessment order is already examined in the original assessment order and thereby, now amounts to change of opinion. (d) The Ld. CIT(A) also erred in law in not appreciating that the approval granted by the superior authority is mechanical and without application of mind rendering the reopening invalid. 2. (a) The ld.CIT(A) erred in facts

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

reassessment proceedings were initiated on\nthe basis of information received from Director of Income Tax\n(Inv.), Chennai according which, inter-alia, the Assessee was\nmaking payment to car dealers in violation of Section 40(1) of\nthe Insurance Act, 1938. Commission was being paid to the car\ndealers in the grab of making payments towards reimbursement\nof expenses

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

reassessment proceedings were initiated on\nthe basis of information received from Director of Income Tax\n(Inv.), Chennai according which, inter-alia, the Assessee was\nmaking payment to car dealers in violation of Section 40(1) of\nthe Insurance Act, 1938. Commission was being paid to the car\ndealers in the grab of making payments towards reimbursement\nof expenses

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX , INCOME TAX OFFICER, NFAC, MUMBAI

Accordingly, in terms of the aforesaid, Ground No. 3 to\n7 raised by the Assessee pertaining to merits of such\nadditions/disallowances are dismissed as having been rendered\ninfructuous

Bench: "CLEAN_TEXT": "IN THE INCOME TAX APPELLATE TRIBUNAL\n\"I\" BENCH, MUMBAI\n\nSHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER\nSHRI RAHUL CHAUDHARY (Judicial Member)

reassessment proceedings were initiated on\nthe basis of information received from Director of Income Tax\n(Inv.), Chennai according which, inter-alia, the Assessee was\nmaking payment to car dealers in violation of Section 40(1) of\nthe Insurance Act, 1938. Commission was being paid to the car\ndealers in the grab of making payments towards reimbursement\nof expenses

MR NILESH BHARANI,MUMBAI vs. DCIT CC 4(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No. 612/Mum/2020 (निर्धारणवर्ा / Assessment Year: 2011-12)

32 I.T.A. No. 612/Mum/2020 Mr. Nilesh Bharani search, a reassessment could only be made u/s 153A of the Act for the 10 assessment years preceding the date of search and not under any other section. The ld. AR also vehemently stressed the importance of the same by referring to the Hon‟ble Apex Court in Sinhgard Technical Education Society

THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(2)(2), MUMBAI

reassessment proceedings were initiated on\nthe basis of information received from Director of Income Tax\n(Inv.), Chennai according which, inter-alia, the Assessee was\nmaking payment to car dealers in violation of Section 40(1) of\nthe Insurance Act, 1938. Commission was being paid to the car\ndealers in the grab of making payments towards reimbursement\nof expenses

ITO WARD-4(1)(3), MUMBAI vs. M/S ASHIK WOLLEN MILLS LIMITED, MUMBAI

In the result, this appeal of revenue is allowed in terms indicated here

32……Before us, the Tribunal relied on the Division Bench Judgment of the Rajasthan High Court in Shree Pipes Ltd. There, on identical facts, the assessee was a sick industrial company and proceedings were pending before the BIFR. Under the scheme of its rehabilitation, interest liability in respect of certain debts of the assessee due to Banks and financial institutions