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

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)

153 referred to as the relevant assessment year) :\n\nProvided that where an assessment under sub-section (3)\nof section 143 or this section has been made for the\nrelevant assessment year, no action shall be taken under\nthis section after the expiry of four years from the end of\nthe relevant assessment year, unless any income\nchargeable

INCOME TAX OFFICER-12(3)(1), MUMBAI, MUMBAI vs. MANJU DIAMONDS PVT. LTD., MUMBAI

In the result, the appeal of the Revenue is allowed for statistical purposes whereas the application under Rule 27 of statistical purposes whereas the application under Rule 27

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2017-18 Ito-12(3)(1), Manju Diamonds Pvt. Ltd., R.No. 145, 1St Floor, Aayakar 57/59, 1St Floor, Nagdevi Street, Vs. Bhavan, M.K. Road, Maszid Bunder, Mumbai-400020. Mumbai-400 003. Pan No. Aaecm 6609 G Appellant Respondent

147, section 148 section 148, section 149, section 151 and and section 153, where the Assessing Officer is satisfied that, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or any money, bullion, jewellery or other valuable article or any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, 71belongs

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

153 referred to as the relevant assessment year) :\nProvided that where an assessment under sub-section (3)\nof section 143 or this section has been made for the\nrelevant assessment year, no action shall be taken under\nthis section after the expiry of four years from the end of\nthe relevant assessment year, unless any income\nchargeable

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

153 referred to as the relevant assessment year) :\n\nProvided that where an assessment under sub-section (3)\nof section 143 or this section has been made for the\nrelevant assessment year, no action shall be taken under\nthis section after the expiry of four years from the end of\nthe relevant assessment year, unless any income\nchargeable

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

153 referred to as the relevant assessment year) :\nProvided that where an assessment under sub-section (3)\nof section 143 or this section has been made for the\nrelevant assessment year, no action shall be taken under\nthis section after the expiry of four years from the end of\nthe relevant assessment year, unless any income\nchargeable

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

153 referred to as the relevant assessment year) :\n\nProvided that where an assessment under sub-section (3)\nof section 143 or this section has been made for the\nrelevant assessment year, no action shall be taken under\nthis section after the expiry of four years from the end of\nthe relevant assessment year, unless any income\nchargeable

SHRI AMIT MANGILAL JAIN,MUMBAI vs. ACIT, - 33(1), MUMBAI

In the result, both the above appeals are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

u/s 133A of the Act were refereed in the assessment order. 6.2 For ready reference we quote section 153C as under:- " 153C. [Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned

M/S. SUMER BUILDERS PRIVATE LIMITED,,MUMBAI vs. DCIT-CENTRAL CIRCLE-5(3),, MUMBAI

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

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2011-12 M/S. Sumer Builders Pvt. The Dy. Commissioner Of Ltd., Income Tax, 220, Commerce House, Central Circle – 5(3), 140, Nagindas Master (Erstwhile The Assistant Road, Commissioner Of Income Vs. Fort, Mumbai – 400 023 Tax, Central Circle-36, Pan: Aaacs7947P Mumbai), 1906, 19Th Floor, Air India Building, Nariman Point, Mumbai - 400021 (Appellant) (Respondent) Present For: Assessee By : Shri Nishit Gandhi, A.R. Revenue By : Shri T.S. Khalsa, D.R. Date Of Hearing : 25.11.2020 Date Of Pronouncement : 08.01.2021 O R D E R

u/s 153C and not 147 and hence order should be quashed is taken up first. The loose paper in question was found and seized from the residence of Shri Ramesh Shah at 1201, Sumer Heights, 12th Floor, Chowpatty, Mumbai -400007. Section 153 C as it stood at the time when notice for reassessment

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) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147 of the Act by issuance of notice under Section 148 of the Act on 30/03/2017. Thus, reassessment proceedings were initiated within a period of 4 years

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) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147 of the Act by issuance of notice under Section 148 of the Act on 30/03/2017. Thus, reassessment proceedings were initiated within a period of 4 years

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) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147 of the Act by issuance of notice under Section 148 of the Act on 30/03/2017. Thus, reassessment proceedings were initiated within a period of 4 years

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) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147 of the Act by issuance of notice under Section 148 of the Act on 30/03/2017. Thus, reassessment proceedings were initiated within a period of 4 years

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)

reassessment by issuing a notice u/s 153C of the Act instead erroneously u/s 148 of the Act. 57. We agree with the contention of the assessee that, since, section 153C of the Act overrides the provisions of the sections 147, 148,149, 151 and 153

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

reassess the total income taking note of the undisclosed income, if any, found during the course of search. For this purpose, the restrictions imposed on the Assessing Officer by way of sections 148 to 153 to reopen the assessment u/s 147

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

153, assessee or reassess such income and also any other inco income and also any other income which has escaped me which has escaped assessment and which comes to his notice subsequently in assessment and which comes to his notice subsequently in assessment and which comes to his notice subsequently in the course of proceedings under this section." the course

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

153 referred to as the relevant assessment year) : \n\n Provided that where an assessment under sub-section (3) \nof section 143 or this section has been made for the \nrelevant assessment year, no action shall be taken under \nthis section after the expiry of four years from the end of \nthe relevant assessment year, unless any income \nchargeable

ITO 1(2)(3), MUMBAI vs. M PALLONJI ENERPRISES P. LTD, MUMBAI

In the result, the appeal of the In the result, the appeal of the Revenue is dismissed whereas dismissed whereas cross objection of the assessee is allowed

Bench: Shri Amit Shukla () & Shri Om Prakash Kant () Assessment Year: 2009-10 Ito-1(2)(3), M/S M Pallonji Enterprises Pvt. Ltd., R. No. 527, 5Th Floor, Aayakar 46/A, Cawasji Patel Street, Fort, Bhavan, M.K. Road, Vs. Mumbai-400020. Mumbai-400020. Pan No. Aafcm 3357 A Appellant Respondent

u/s 148 of the Act of the assessee.” 8.1 On perusal of the above reasons recorded perusal of the above reasons recorded, it is evident that it is evident that there was no new tangible material bef there was no new tangible material before the Assessing Officer to ore the Assessing Officer to invoke a trigger for making belief that