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)

20. The reasons recorded by the Assessing Officer nowhere\nstate that there was failure on the part of the assessee to\ndisclose fully and truly all material facts necessary for the\nassessment of that assessment year. It is needless to\nmention that the reasons are required to be read as they\nwere recorded by the Assessing Officer. No substitution

ACIT, PIRAMAL CHAMBERS vs. MILESTONE REAL ESTATE FUND, MUMBAI

20 Vs. Gujarat Information\nTechnology Fund.\nii) the assessee, which is a VCF, is not covered by\nthe definition of a 'person' as defined under section\n2(31) of the Act, since it is a trust which enjoys a\nspecial 'status' for the specific purpose of only\nexemption u/s 10(23FB) of the Act.\nIn view of the above

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

10==\nof the Act in respect of identical payments made to motor car\ndealers by the Assessee. After referring to the tangible material,\nthe Assessing Officer initiate reassessment proceedings\nconcluding as under:\n“For the A.Y.2010-11, the nature of expenses in the form of\npayments made to motor car dealers needs to be examined\non the same issue

ADITYA BIRLA PRIVATE EQUITY TRUST ,MUMBAI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI (INCOME TAX OFFICER 20(1)(1), MUMBAI), MUMBAI

In the result, appeal filed by the assessee is allowed

reassessment u/s. 147 of the Act.\n2.2 The Appellant prays that the notice u/s. 148 of the Act as\nwell as consequent order be quashed.\nWITHOUT PREJUDICE TO THE ABOVE GROUNDS\nGROUND NO. III: DENIAL OF EXEMPTION US. IO(23FB) OF\nTHE ACT:\n3.1 On the facts and circumstances of the case and in law, the\nLd. CIT(A) erred

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

20. The reasons recorded by the Assessing Officer nowhere\nstate that there was failure on the part of the assessee to\ndisclose fully and truly all material facts necessary for the\nassessment of that assessment year. It is needless to\nmention that the reasons are required to be read as they\nwere recorded by the Assessing Officer. No substitution

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

20. The reasons recorded by the Assessing Officer nowhere\nstate that there was failure on the part of the assessee to\ndisclose fully and truly all material facts necessary for the\nassessment of that assessment year. It is needless to\nmention that the reasons are required to be read as they\nwere recorded by the Assessing Officer. No substitution

ACIT, CIR-1(2)(1), MUMBAI vs. M/S. CHERYL ADVISORY PVT LTD., MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Narender Kumar Choudhry () Assessment Year: 2013-14

10 on the determination of the income of the assessee i.e. other person. ination of the income of the assessee i.e. other person. ination of the income of the assessee i.e. other person. Thus the second condition Thus the second condition of section 153C(1)(b) i.e. of section 153C(1)(b) i.e. any information contained therein , also , also does

THE TATA POWER COMPANY LTD,MUMBAI vs. PR CIT 2, MUMBAI

In the result, appeal is allowed, as indicated above

Bench: Shri Saktijit Dey () & Shri Rajesh Kumar ()

u/s 143(3) r.w.s. 144C(13) 11-12-2017 Assessment order passed under section 143(3) r.w.s. 147 of the Act 8. On a careful reading of the impugned order of learned PCIT passed under section 263 of the Act, it becomes very much clear that he has revised the assessment order passed under section 143(3) r.w.s. 147

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

section 147 of the Act, an assessment completed u/s 143(3) of the Act could be reopened beyond the completed u/s 143(3) of the Act could be reopened beyond the completed u/s 143(3) of the Act could be reopened beyond the period of four years from the end of the relevant assessment year iod of four years from

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)

u/s 148 is to be issued.” (Emphasis Supplied) 10. The contention advanced on behalf of the Assessee is that the reassessment proceedings are bad in law since the same do not conform to the requirements of Section 147 read with First Proviso thereto. 11. The reassessment proceedings were initiated in the case of the Assessee for the Assessment Year

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)

u/s 148 is to be issued.” (Emphasis Supplied) 10. The contention advanced on behalf of the Assessee is that the reassessment proceedings are bad in law since the same do not conform to the requirements of Section 147 read with First Proviso thereto. 11. The reassessment proceedings were initiated in the case of the Assessee for the Assessment Year

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)

u/s 148 is to be issued.” (Emphasis Supplied) 10. The contention advanced on behalf of the Assessee is that the reassessment proceedings are bad in law since the same do not conform to the requirements of Section 147 read with First Proviso thereto. 11. The reassessment proceedings were initiated in the case of the Assessee for the Assessment Year

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)

u/s 148 is to be issued.” (Emphasis Supplied) 10. The contention advanced on behalf of the Assessee is that the reassessment proceedings are bad in law since the same do not conform to the requirements of Section 147 read with First Proviso thereto. 11. The reassessment proceedings were initiated in the case of the Assessee for the Assessment Year

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

Section 147 of the Act. In the aforesaid\nappeal the Assessee has filed Cross-objections (C.O.\nNo.97/Mum/2024).\n\nITA No.2616/Mum/2025 (Assessee’s Appeal)\n\n25. We would take up ITA 2616/Mum/2025 preferred by the\nAssessee which is directed against the Order, dated 20/03/2024,\npassed by the CIT(A) whereby the appeal preferred by the\nAssessee against the Assessment Order, dated

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)

u/s 153C of the Act, issues a notice u/s 153C to file a return of income for reassessment, then he makes an assessment / reassessment of such income u/s 153A of the Act. 65. Now, the entire procedure is the same except under different sections having two separate contingencies. In our opinion, the Legislature has not left any discretion

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

20. The reasons recorded by the Assessing Officer nowhere \nstate that there was failure on the part of the assessee to \ndisclose fully and truly all material facts necessary for the \nassessment of that assessment year. It is needless to \nmention that the reasons are required to be read as they \nwere recorded by the Assessing Officer. No substitution

ATUL SHAMJI BHARANI,MUMBAI vs. DCIT CC- 4(1), MUMBAI

In the result, appeal by the assessee for the

reassessment proceedings under section 147 of the Act and\nissued notice under section 148 of the Act. In response to the aforesaid notice,\nthe assessee filed his return of income and statutory notices under section\n143(2) as well as section 142(1) of the Act were issued and served on the\nassessee. The AO vide order dated 28/12/2018 passed

ATUL SHAMJI BHARANI,MUMBAI vs. DCIT CC- 4(1), MUMBAI

In the result, appeal by the assessee for the

reassessment proceedings under section 147 of the Act and\nissued notice under section 148 of the Act. In response to the aforesaid notice,\nthe assessee filed his return of income and statutory notices under section\n143(2) as well as section 142(1) of the Act were issued and served on the\nassessee. The AO vide order dated 28/12/2018 passed