ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

ACIT, CC-6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

OVERSEAS INFRASTRUCTURE ALLIANCE(INDIA) PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -6 , MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMTIED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 6(2), MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

ACIT CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

ACIT, CC-6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

section 73 of the Act. Ld. Assessing Officer recorded the reasons for reopening of the assessment and issued notice u/s.148 on 29.03.2016. Statutory compliances of filing return, supplying copy of reasons recorded, filing of objections thereon and disposal of the objections so raised were all met. After considering the submission filed by the assessee in the course of reassessment

INCOME TAX OFFICER (IT)-3(2)(1), KAUTILYA BHAWAN vs. SHAPOORJI PALLONJI MISTRY, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawal

73. Section 151 imposes a check upon the power of the Revenue to reopen assessments. The provision imposes a responsibility on the Revenue to ensure that it obtains the sanction of the specified authority before issuing a notice under Section 148. The purpose behind this procedural check is to save the assesses from harassment resulting from the mechanical reopening

OVERSEAS INFRASTRUCTURE ALLIANCE(INDIA) PRIVATE LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 6(2), MUMBAI

reassessment order u/s.147\nthat 1d. Assessing Officer has incorrectly used the word 'commodities'\ninstead of 'future and options'. In addition to what is discussed above,\nassessee further submitted that in the Finance Bill, 2005, while\nintroducing clause (b) in section 43(5), it also simultaneously amended\nsub-section (4) to section 73

ACIT, CC 6(2), MUMBAI, MUMBAI vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED, MUMBAI

reassessment order u/s.147\nthat 1d. Assessing Officer has incorrectly used the word 'commodities'\ninstead of 'future and options'. In addition to what is discussed above,\nassessee further submitted that in the Finance Bill, 2005, while\nintroducing clause (b) in section 43(5), it also simultaneously amended\nsub-section (4) to section 73

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

In the result, appeals of the assessee are allowed

Section 153A for unabated assessment years, statement alone cannot be treated as incriminating material and here in this case this statement is not of the assessee but of her husband and here it is not a case of assessment u/s.153C that any material or document found from search of other person has been made the basis for addition. Albeit

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

In the result, appeals of the assessee are allowed

Section 153A for unabated assessment years, statement alone cannot be treated as incriminating material and here in this case this statement is not of the assessee but of her husband and here it is not a case of assessment u/s.153C that any material or document found from search of other person has been made the basis for addition. Albeit

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

In the result, appeals of the assessee are allowed

Section 153A for unabated assessment years, statement alone cannot be treated as incriminating material and here in this case this statement is not of the assessee but of her husband and here it is not a case of assessment u/s.153C that any material or document found from search of other person has been made the basis for addition. Albeit

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

In the result, appeals of the assessee are allowed

Section 153A for unabated assessment years, statement alone cannot be treated as incriminating material and here in this case this statement is not of the assessee but of her husband and here it is not a case of assessment u/s.153C that any material or document found from search of other person has been made the basis for addition. Albeit

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

In the result, appeals of the assessee are allowed

Section 153A for unabated assessment years, statement alone cannot be treated as incriminating material and here in this case this statement is not of the assessee but of her husband and here it is not a case of assessment u/s.153C that any material or document found from search of other person has been made the basis for addition. Albeit

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

In the result, appeals of the assessee are allowed

Section 153A for unabated assessment years, statement alone cannot be treated as incriminating material and here in this case this statement is not of the assessee but of her husband and here it is not a case of assessment u/s.153C that any material or document found from search of other person has been made the basis for addition. Albeit

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

In the result, appeals of the assessee are allowed

Section 153A for unabated assessment years, statement alone cannot be treated as incriminating material and here in this case this statement is not of the assessee but of her husband and here it is not a case of assessment u/s.153C that any material or document found from search of other person has been made the basis for addition. Albeit