TUTOR INVESTMENT& FINANCE PVT LTD,MUMBAI vs. DCIT, CENTRAL CIRCLE 6(4), MUMBAI

In the result, the appeal of the assesse bearing ITA No

Bench: the ITAT, Mumbai Bench “E”, which, vide its order in ITA No. 6752/Mum/2017 dated 15.06.2018, upheld the revisionary order passed under Section 263 of the Act.

section 56(2)(vii)(b) of the Act. The said addition pertained to the issuance of 10 lakh shares by the assessee at Rs.200 per share to M/s Chinar Commercials Pvt. Ltd. & M/s Chinar Finvest Pvt Ltd, for a total consideration of Rs.20 crores. During the reassessment

SAPPHIRE FOODS INDIA LIMITED,MUMBAI vs. DCIT, CIRCLE 3(3)(1), MUMBAI, MUMBAI

In the result, the appeal is partly allowed

reassessment order:\n6. The Ld. CIT(A) erred in holding that the mistake on the part of the\nLd. AO in quoting section 56

SHILPA GAUTAM,MUMBAI vs. ITO, (INT TX), WARD-2(3)(1), MUMBAI

Section 56(2)(vii)(b) of the Act, and therefore, the same are being taken up together hereinafter. The relevant facts in brief are that the Appellant, a non-resident 3. individual, did not file return of income for the Assessment Year 2016-17. Based upon the information received by the Assessing Officer that the Appellant has purchased an immovable

ACIT CIRCLE 22(1), MUMBAI vs. RAJENDRA NARPATMAL LODHA, MUMBAI

Appeal is dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

reassessment proceedings by issue of notice under section 148A of the income tax act (the Act). The AO, after passing an order under clause (d) of section 148A issued a notice under section 148 requiring the assessee to file the return of income. The AO also called on the assessee to file the necessary details and to explain why addition

JAIN MACHINE TOOLS ,MUMBAI vs. INCOME TAX OFFICER, WARD 26(1)(7), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2012-13 Jain Machine Tools, Ito, Ward 26(1)(7), 16, Meghal Industrial Estate, Room 625, 6Th Floor, Kautilya Vs. Devidayal Road, Mulund (West) Bhavan, C-41 To C-43, G Block, Mumbai-400080. Bandra Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfj 6163 H Appellant Respondent

reassessment proceedings under section 147 by making additions of Rs. additions of Rs. 2,27,46.240/- while the approval note under section 151 e the approval note under section 151 was obtained for income escaping assessment of Rs. 1,00,000/ was obtained for income escaping assessment of Rs. 1,00,000/ was obtained for income escaping assessment

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

56,250/- on other buildings. 3. Briefly stated facts of the case are that the assessee company stated facts of the case are that the assessee company stated facts of the case are that the assessee company is engaged in manufacturing of fiber, chemical, cement and sponge, is engaged in manufacturing of fiber, chemical, cement and is engaged in manufacturing

HIFZUR REHMAN ANSARI,MUMBAI vs. ITO 20(1)(5), MUMBAI

In the result, the appeal of the assessee is partly allowed

Bench: Om Prakash Kant & Shri Anikesh Banerjeehifzur Rehman Ansari Vs Ito Ward-20(1)(5), Mumbai 1103, Zam Zam Tower Piramal Chambers, Dr Ss Rao Marg, Belvedere Road, Mazgaon, Parel, Mumbai-400 012 Mumbai-400 010 Pan: Aaapa7928F Applicant Respondent

reassessment. 8 ITA 163/Mum/2024 Hifzur Ansari In light of the above, it is respectfully submitted that the additional grounds raised by the assessee lack merit.” 6. We find that the assessee has not asked for recorded reason from the Ld. Assessing Officer during the assessment proceedings, after filing of the return of income in response to the notice under section

DANISH SHEIKH,USA vs. INCOME TAX OFFICER INTL TAX WARD 4(2)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सुं./Ita No. 1034/Mum/2025 (नििाारण वर्ा / Assessment Year :2016-17) Danish Sheikh V/S. Ito International Tax, 18, Old Planters Road, बिाम Ward 4(2)(1) Beverly, Usa-999999 Kautilya Bhavan, 6Th Floor, Bandra (E), Mumbai- 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Fjxps3005Q Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Pradip Kapasi राजस्व की ओर से /Revenue By: Shri Krishna Kumar, Sr. Dr.

REASSESSMENT BAD IN LAW The notices u/s 148A were served much later than the date of issue and later than the time provided for filing the response and the last notice was served only on 31.03.2024, that is the date on which order u/s 148A was passed. The reply dt. 27.03.2023 filed in response to the notice was not considered

VALUKKO INFRASTRUSTURE LIMITED,MUMBAI vs. INCOME TAX OFFICER, 11(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सुं./Ita No. 1034/Mum/2025 (नििाारण वर्ा / Assessment Year :2016-17) Danish Sheikh V/S. Ito International Tax, 18, Old Planters Road, बिाम Ward 4(2)(1) Beverly, Usa-999999 Kautilya Bhavan, 6Th Floor, Bandra (E), Mumbai- 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Fjxps3005Q Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Pradip Kapasi राजस्व की ओर से /Revenue By: Shri Krishna Kumar, Sr. Dr.

REASSESSMENT BAD IN LAW The notices u/s 148A were served much later than the date of issue and later than the time provided for filing the response and the last notice was served only on 31.03.2024, that is the date on which order u/s 148A was passed. The reply dt. 27.03.2023 filed in response to the notice was not considered

PANKAJ DHANDHARIA,MUMBAI vs. ACIT-22(1), MUMBAI

Appeal is dismissed

reassessment proceedings under\nsection 147 of the act cannot be initiated merely on the ground\nthat the learned assessing officer has lost sight of the statutory\nprovisions like 50C, 43CA and section 56

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

reassessment proceedings is dismissed as having been \nrendered infructuous. \n156. Thus, the present appeal preferred by the Assessee is partly \nallowed. \n157. In result, the appeal preferred by the Revenue [ITA \nNo.2836/Mum/2024] is dismissed and appeal preferred by the \nAssessee [ITA No.2619/Mum/2024] is partly allowed. \n ASSESSMENT YEAR - 2016-2017 \nITA No.2834/Mum/2024(Revenue’s Appeal) \n158. We wouldnext take

CHEMOX EXPORTS IMPORTS PVT LTD,MUMBAI vs. INCOME TAX DEPARTMENT, ASSESSMENT UNIT, DELHI

56,76,770/- instead of Rs. 51,16,011/-.\n4. The Ld. CIT(A) has erred in law and in facts in confirming the addition of Rs.\n8,00,000/- on account of undisclosed sales.\n5. The Ld. CIT(A) has erred in law and in facts in confirming the addition on account\nof service charges

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)

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132-A of the 1961 Act. However, the completed/unabated assessments

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)

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132-A of the 1961 Act. However, the completed/unabated assessments

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

In the result, all the appeals for A

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132-A of the 1961 Act. However, the completed/unabated assessments

M/S. BIOBUILD DEVELOPERS ,MUMBAI vs. INCOME TAX OFFICER WARD 24(1)(3), MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

reassessment proceedings which cumulated into passing of the Assessment Order, dated 26/12/2019 under Section 143(3) read 3 Assessment Year 2013-2014 with Section 147 of the Act. By way of the aforesaid Assessment Order the Assessing Officer made an addition of INR.33,82,946/- in the hands of the Assessee holding the same to be interest income liable

KASHYAP KANIYALAL MEHTA,MUMBAI vs. DCIT CC-4(1), MUMBAI

In the result, appeals of the assessee are allowed

reassess the income of the other person in accordance with the provisions of section 153A, if that Assessing Officer is satisfied that the books of account or documents or assets, seized or requisitioned, have a bearing on the determination of the total income of such other person for the relevant assessment year or years referred to in sub-section

KASHYAP KANIYALAL MEHTA,MUMBAI vs. DCIT CC-4(1), MUMBAI

In the result, appeals of the assessee are allowed

reassess the income of the other person in accordance with the provisions of section 153A, if that Assessing Officer is satisfied that the books of account or documents or assets, seized or requisitioned, have a bearing on the determination of the total income of such other person for the relevant assessment year or years referred to in sub-section