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

u/s\nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834,\n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024\n Assessment Year 2010-2011, 2012-2013 to 2019-2020\n8\n37. In view of all the above, for the A.Y. 2010-11 I have reason\nto believe that income assessable to tax amounting to more

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

u/s\nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834,\n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024\n Assessment Year 2010-2011, 2012-2013 to 2019-2020\n8\n37. In view of all the above, for the A.Y. 2010-11 I have reason\nto believe that income assessable to tax amounting to more

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

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

u/s\n\nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834,\n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024\n Assessment Year 2010-2011, 2012-2013 to 2019-2020\n9\n37. In view of all the above, for the A.Y. 2010-11 I have reason\nto believe that income assessable to tax amounting

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

section 153C of the Act cannot be invoked in the case of the assessee. be invoked in the case of the assessee. Thus, the Assessing Officer Thus, the Assessing Officer has correctly invoked reassessment proceedings u/s 147 of the Act has correctly invoked reassessment proceedings u/s 147 of the Act has correctly invoked reassessment proceedings u/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

13 , which was already scrutinized under section 143(3) of the Act but notice u/s 148 of the Act has been section 143(3) of the Act but notice u/s 148 of the Act has bee section 143(3) of the Act but notice u/s 148 of the Act has bee issued on 31/03/2019, which is beyond the period

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

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, 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

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

u/s \nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834, \n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024 \n Assessment Year 2010-2011, 2012-2013 to 2019-2020 \n10 \nSection 147 of the Act shall be taken after the expiry of four \nyears from the end of the relevant assessment year unless \nincome chargeable

SAMBHAVANATH INFRABUILD FARMS (SUCCESSOR TO LODHA CONSTRUCTION P. LTD P. LTD.,MUMBAI vs. ASSTT. CIT, CENTRAL CIRCLE-7(3), MUMBAI

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blesambhavnath Infrabuild & Farms Pvt. Ltd., V. Asst. Cit– Central Circle – 7(3) {Successor To Lodha Construction Pvt. Ltd.,} Room No. 655, 6Th Floor 412, 4Th Floor, 17G Vardhaman Chamber Aayakar Bhavan, M.K. Road Cawasji Patel Road, Horniman Circle Mumbai - 400020 Fort, Mumbai - 400001 Pan: Aalcs1394M (Appellant) (Respondent) Assessee By : Shri Anuj Kisnadwala Department By Shri B.K. Bagchi

u/s 143(3) rws 147 of the Act. Since the very assessment is quashed, the additions made in such assessment automatically get cancelled.” 12. Respectfully following the above decision, the correct course of reassessment is under section 153C not under section 147 of the Act. The Assessing Officer has no options to choose the proceedings except following the due procedure

SAI PRERNA CO-OP. CREDIT SOCIETY LTD,MUMBAI vs. ITO WD 17(3) (2) , MUMBAI

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

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2012-13 Sai Prerana Co-Op Society Ltd., Ito-7(3)(2), 317, Puran Aasha Bldg. Gr. Fl. Room No. 126, 1St Floor, Narashi Natha Street, Katha Vs. Kautilya Bhavan, C-41 To C- Bazar Musjid Bunder (W), 43 Block, Bandra Kurla Mumbai-400 009. Complex, Bandra (East) Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent Assessee By : Ms. Ruby Srivastava & Mr. Bharat Kumar, Ca Revenue By : Mr. Milind S. Chavan, Dr Date Of Hearing : 27/04/2023 : Date Of Pronouncement 28/04/2023 Order

13 6.4 The contention of the ld DR that explanation below the The contention of the ld DR that explanation below the The contention of the ld DR that explanation below the section 147 of the Act prescribing‘producing books of amount section 147 of the Act prescribing‘producing books of amount section 147 of the Act prescribing‘producing books

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

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

147 of the Act was taken. 05. It was found during the F.Y. 2009-10 i.e. A.Y. 2010-11 that properties of the assessee were used by the specified persons. It was found that M/s Ideen Furniture Pvt. Ltd had occupied 8th i. floor of the assessee‟s trust building at Bandra Reclamation without any payment. The above

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

147 of the Act was taken. 05. It was found during the F.Y. 2009-10 i.e. A.Y. 2010-11 that properties of the assessee were used by the specified persons. It was found that M/s Ideen Furniture Pvt. Ltd had occupied 8th i. floor of the assessee‟s trust building at Bandra Reclamation without any payment. The above

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

147 of the Act was taken. 05. It was found during the F.Y. 2009-10 i.e. A.Y. 2010-11 that properties of the assessee were used by the specified persons. It was found that M/s Ideen Furniture Pvt. Ltd had occupied 8th i. floor of the assessee‟s trust building at Bandra Reclamation without any payment. The above