POOJA HARDWARE PVT. LTD.,MUMBAI vs. ACIT - 13 (1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2012-13

35(1)(ii) of Income-tax Act, 1961 tax Act, 1961 by relying on the information received from Kolkata Directorate by relying on the information received from Kolkata Directorate by relying on the information received from Kolkata Directorate and the statements of the key per and the statements of the key persons of the institute SHG&PH, sons

PJL CLOTHING INDIA PRIVATE LIMITED,MUMBAI vs. DCIT 8 2 1, MUMBAI

In the result,the appeal of the In the result,the appeal of the assessee is dismissed

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarpjl Clothing India Pvt. V/S. Nfac/Dcit 8 2 1 Ltd. Aayakar Bhavan, M.K. बनाम 505, 506 Dalamal Road, Churchgate, Chambers, New Marine Mumbai-400020 Lines, Vitthaldasthackersey Marg, Churchgate, Maharashtra-400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacp2782R .. Appellant/अपीलाथ" Respondent/""तवाद"

reassessed the income of Rs. 3,07,32,590/- as declared in the ITR as declared in the ITR. He also initiated penalty procee initiated penalty proceedings u/s 271(1)(c) of the Act for furnishing for furnishing in accurate particulars of income in respect in accurate particulars of income in respect of deduction u/s 35(1)(ii

AAKASH VALUE REALTY PRIVATE LIMITED,MUMBAI vs. DCIT CC-1(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI MAKARAND VASANT MAHADEOKAR (Accountant Member)

reassessment framed under section 147 of the Income-tax Act, 1961 for the assessment year 2016–17. 2. In the grounds of appeal, the assessee has challenged both the validity of notice issued under section 148 and, on merits, the disallowance of deduction amounting to ₹1,79,37,500/- claimed under section 35(1)(ii

KUDOS FINANCE AND INVESTMENT PVT LTD,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX-6, MUMBAI

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

ii) in respect of which the information required to be furnished under this Act to substantiate such entry has not been so furnished; or (iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction. 10. The claim for deduction for the „Provision

ESTATE OF VANDRAVAN P SHAH,MUMBAI vs. ASSISTANT COMISSIONER OF INCOME TAX, CIRCLE 19(3), MUMBAI

In the result all the three captioned appeals are dismissed

Bench: Sandeep Gosain () & Shri Om Prakash Kant ()

35(1)(ii) has to be added to the total income of Vandravan P Shah of AY 2012 Vandravan P Shah of AY 2012-13. Estate of Vandravan P Shah Estate of Vandravan P Shah ITA No. 5401, 5402 & 5403/MUM/2024 5. Basis of forming reason to believe and details of 5. Basis of forming reason to believe and details

KUDOS FINANCE AND INVESTMENTS PVT. LTD.,PUNE vs. ITO, WARD-14 (2)(1), MUMBAI

ii) in respect of which the information required to be furnished\nunder this Act to substantiate such entry has not been so furnished;\nor (iii) in respect of a deduction, where such deduction exceeds\nspecified statutory limit which may have been expressed as\nmonetary amount or percentage or ratio or fraction.\n10. The claim for deduction for the 'Provision

SURENDRA GARG HUF ,MUMBAI vs. ITO- 19(3)(4), MUMBAI

ii)\nall pending assessments/reassessments shall\nstand abated;\n\n(iii)\nin\ncase any incriminating material is\nfound/unearthed, even, in case of\nunabated/completed assessments, the AO would\nassume the jurisdiction to assess or reassess the\n'total income' taking into consideration the\nincriminating material unearthed during the\nsearch and the other material available with the\nAO including the income declared

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

reassessment pending on the date of initiation of search shall abate and merge into the assessment proceedings initiated u/s. 153A of the Act. In respect of a non-abated assessment year, the assessment can be made 5 HK Enterprises, Mumbai only on the basis of incriminating material found in the course of search. No incriminating material found for which additions

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

reassessment pending on the date of initiation of search shall abate and merge into the assessment proceedings initiated u/s. 153A of the Act. In respect of a non-abated assessment year, the assessment can be made 5 HK Enterprises, Mumbai only on the basis of incriminating material found in the course of search. No incriminating material found for which additions

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

reassessment pending on the date of initiation of search shall abate and merge into the assessment proceedings initiated u/s. 153A of the Act. In respect of a non-abated assessment year, the assessment can be made 5 HK Enterprises, Mumbai only on the basis of incriminating material found in the course of search. No incriminating material found for which additions

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

reassessment pending on the date of initiation of search shall abate and merge into the assessment proceedings initiated u/s. 153A of the Act. In respect of a non-abated assessment year, the assessment can be made 5 HK Enterprises, Mumbai only on the basis of incriminating material found in the course of search. No incriminating material found for which additions

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

reassessment pending on the date of initiation of search shall abate and merge into the assessment proceedings initiated u/s. 153A of the Act. In respect of a non-abated assessment year, the assessment can be made 5 HK Enterprises, Mumbai only on the basis of incriminating material found in the course of search. No incriminating material found for which additions

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

reassessment pending on the date of initiation of search shall abate and merge into the assessment proceedings initiated u/s. 153A of the Act. In respect of a non-abated assessment year, the assessment can be made 5 HK Enterprises, Mumbai only on the basis of incriminating material found in the course of search. No incriminating material found for which additions

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

reassessment pending on the date of initiation of search shall abate and merge into the assessment proceedings initiated u/s. 153A of the Act. In respect of a non-abated assessment year, the assessment can be made 5 HK Enterprises, Mumbai only on the basis of incriminating material found in the course of search. No incriminating material found for which additions

DCIT, CIRCLE-1, , KALYAN vs. M/S ASB INTERNATIONAL PVT LTD, MUMBAI

In the result the appeal of the revenue stand dismissed

Bench: Amarjit Singh & Shri Sandip Singh Karhaildcit, C-1,Kalyan Vs. M/S. Asb International 1St Floor, Mohan Plaza, Pvt. Ltd. Mayale Naar, E9, E44, Addl. Kalyan(W)- 421301 Ambernath, Industrial Area, Anand Nagar, Ambernath Thane-421506 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaaca8424F Appellant .. Respondent C.O. No. 65/Mum/2023 (A.Y. 2009-10)

reassessment proceedings, the AO stated that from A.Y. 2001-02 onward the provisions of section10A of and 10B of the Act have been brought at per with the other section dealing with deductions allowed under chapters VI-A of the Act. From first April 2001 onwards the brought forward losses pertaining to the specified undertaking eligible for deduction

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

ii) only w.r.t. those investments which have yielded exempt income\nduring the year and exclude those investments which have not yielded exempt income\nduring the year.\nGROUND NO. 2 Short Deduction u/s. 36(1) (viia) of Rs. 112.65 crores in respect\nof Provision for Standard Asset.\n1.\nThe CIT (A) erred in not considering provision on Standard Asset amounting

MOHAMEDALI SHABANALI BADAMI,MUMBAI vs. ITO 25(2)(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2015-16

35 challenging the validity of notice u/s 148 dated 19th April 2022. Your appellant respectfully submits that the learned CIT(A) ought to have adjudicated the first ground which challenges the AO's jurisdiction to issue notice u/s 148 contrary to the mandate of the first proviso below section 149. Ground 2 - The notice u/s. 148 dated 19th April

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

35) of the Act amounting to Rs.3,29,90,151/ of the Act amounting to Rs.3,29,90,151/- claimed in respect claimed in respect of dividend/income from sale of the mutual fund dividend/income from sale of the mutual fund. In this manner, total income of the assessee total income of the assessee was assessed at Rs.4

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

35) of the Act amounting to Rs.3,29,90,151/ of the Act amounting to Rs.3,29,90,151/- claimed in respect claimed in respect of dividend/income from sale of the mutual fund dividend/income from sale of the mutual fund. In this manner, total income of the assessee total income of the assessee was assessed at Rs.4