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)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

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)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

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

147 \nof the Act was partly allowed. \n152. The Assessee has raised 4 grounds of appeal. We would first \ntake up Ground No. 2 to 4 raised by the Assessee dealing with \nthe merits of the disallowance/additions made by the Assessing \nOfficer \nGround No.2 to 4: \n153. Ground No.2 to 4 pertaining to disallowance made in respect of \npayments made

ITO 19(2)(3), MUMBAI vs. MEENAKSHI N SHAH, MUMBAI

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2007-08 Dcit 5(2)(2) Meridian Chem Bond Mumbai Purchase Ltd., बनाम/ 903 Raheja Centre, Free Vs. Press Journal Marg, Nariman Point, Mumbai 400 021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. Aaacr1789G

u/s 147 r.w.s 148 of the Act. Before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

AMBUJA CEMENT INDIA P.LTD,MUMBAI vs. ASST CIT CIR 3(1), MUMBAI

In the result appeal of the assessee is allowed as indicated above

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2600/Mum/2014 (नििाारण वर्ा / Assessment Year : 2005-06)

Section 147 which provides that the production before the AO of account books or other evidence from which material evidence could with due diligence have been discovered by the AO will not necessarily amount to disclosure. In the context, the AO also placed reliance onto the decisions in cases of Jawand Sons [(2010) 326 ITR 39 (P & H)], Consolidated Photo

ITO 6(3)(2), MUMBAI vs. JAYDEEP PROFILES P.LTD, MUMBAI

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2009-10 Income Tax Officer 6(3)(2), Jaydeep Profiles P. Ltd., R No.503, 5Th Floor, Aayakar 142/7 Lakdi Bunder Road, बनाम/ Bhavan, M.K.Road, Darukhana, Reay Road, Vs. Mumbai 400 020 Mumbai 400 086 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacj8998B Assessment Year: 2009-10 Jaydeep Profiles P. Ltd., Income Tax Officer 6(3)(2), 142/7 Lakdi Bunder Road, R No.503, 5Th Floor, Aayakar बनाम/ Darukhana, Reay Road, Bhavan, M.K.Road, Vs. Mumbai 400 086 Mumbai 400 020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacj8998B 2 & 2698/Mum/2016

u/s 147 r.w.s 148 of the Act, therefore, before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

JAYDEEP PROFILES PVT. LTD.,MUMBAI vs. ITO WD 6 (3)(2), MUMBAI

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2009-10 Income Tax Officer 6(3)(2), Jaydeep Profiles P. Ltd., R No.503, 5Th Floor, Aayakar 142/7 Lakdi Bunder Road, बनाम/ Bhavan, M.K.Road, Darukhana, Reay Road, Vs. Mumbai 400 020 Mumbai 400 086 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacj8998B Assessment Year: 2009-10 Jaydeep Profiles P. Ltd., Income Tax Officer 6(3)(2), 142/7 Lakdi Bunder Road, R No.503, 5Th Floor, Aayakar बनाम/ Darukhana, Reay Road, Bhavan, M.K.Road, Vs. Mumbai 400 086 Mumbai 400 020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacj8998B 2 & 2698/Mum/2016

u/s 147 r.w.s 148 of the Act, therefore, before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

IDHASOFT LTD.,MUMBAI vs. DCIT - 15(2)(1), MUMBAI

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2007-08 M/S Idhasoft Ltd. Dcit-15(2)(1), 3, Narayan Building, Room No.357, 3Rd Floor बनाम/ 23 L. N. Road, Dadar East, Aayakar Bhavan, Vs. Mumbai-400014 M. K. Road, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aabci6090G Assessment Year: 2007-08 Dcit-15(2)(1), M/S Idhasoft Ltd. Room No.357, 3Rd Floor 3, Narayan Building, बनाम/ Aayakar Bhavan, 23 L. N. Road, Dadar East, Vs. M. K. Road, Mumbai-400014 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aabci6090G

u/s 147 r.w.s 148 of the Act, therefore, before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

SHRI DINESHKUMAR C. DOSHI,MUMBAI vs. INCOME TAX OFFICER 19(1)(4), MUMBAI

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh

u/s 147 r.w.s 148 of the Act, therefore, before adverting further I am reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- Dinesh S. Jain “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions

ITO 13(3)(3), MUMBAI vs. VULVAN TRADERS P. LTD, MUMBAI

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Years: 2008-09 Income Tax Officer-13(3)(3), M/S Vulvan Traders, 805, Room No.227,02Nd Floor, A Wingh, Corporate Avenue, बनाम/ Aayakar Bhavan, Sonawala Raod, Vs. M. K. Road, Goregaon East, Mumbai-400020 Mumbai-400063 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.Aaacv1603K Assessment Years: 2008-09 M/S Vulvan Traders, 805, Income Tax Officer-13(3)(3), A Wingh, Corporate Room No.227,02Nd Floor, बनाम/ Avenue, Sonawala Raod, Aayakar Bhavan, Vs. Goregaon East, M. K. Road, Mumbai-400063 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.Aaacv1603K

u/s 147 r.w.s 148 of the Act, therefore, before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

ASST CIT CIR 3, KALYAN vs. RICH & ROYAL, KALYAN

In the result appeal of the revenue is dismissed in the manner indicated above

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1007/Mum/2016 (नििाारण वर्ा / Assessment Year: 2007-08) Acit Cir 3 बिाम/ M/S. Rich & Royal 2N D Floor, Rani Mansion, The Raymond Shop, Murbad Road, Kalyan(W), Zojwalla Complex, V. Dist Thane 421301 Agra Road, Kalyan (W) 421301 स्थायी ऱेखा सं./ Pan : Aadfr3357G (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

u/s 147 r.w.s 148 of the Act. Before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

SNEHALATA AHNAND RANE,MUMBAI vs. INCOME TAX OFFICER-WARD 3(3), KALYAN

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh

u/s 147 r.w.s 148 of the Act, therefore, before adverting further I am reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

SNEHALATA AHNAND RANE,MUMBAI vs. INCOME TAX OFFICER-WARD 3(3), KALYAN

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh

u/s 147 r.w.s 148 of the Act, therefore, before adverting further I am reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

SNEHALATA AHNAND RANE,MUMBAI vs. INCOME TAX OFFICER-WARD 3(3), KALYAN

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh

u/s 147 r.w.s 148 of the Act, therefore, before adverting further I am reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

DCIT CIR 3(1), MUMBAI vs. ICICI BANK LTD, MUMBAI

Bench: Hon’Ble Shri Saktijit Dey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.5191/Mum/2009 (िनधा"रण वष" / Assessment Year: 2004-05) Dcit-Circle 3(1) Icici Bank Limited बनाम Room No.607, 6Th Floor नाम/ नाम नाम Icici Bank Towers Aaykar Bhavan Bandra-Kurla Complex Vs. Mumbai-400 020. Mumbai-400 051. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci-1195-H (अपीलाथ" / Appellant) (ू"यथ" / Respondent) : & C.O. No.127/Mum/2010 [Arising Out Of I.T.A. No.5191/Mum/2009] (िनधा"रण वष" / Assessment Year: 2004-05) Icici Bank Limited Dcit-Circle 3(1) बनाम नाम नाम/ नाम Room No.607, 6Th Floor Icici Bank Towers Bandra-Kurla Complex Aaykar Bhavan Vs. Mumbai-400 051. Mumbai-400 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci 1195 H (""ा"ेप ""ा"ेप ""ा"ेप /Cross Objector) ""ा"ेप (ू"यथ" / Respondent) :

u/s 143(3) and review in the garb of reassessment was not permissible under the law. Further, mere reasons to suspect could not substitute reasons to believe. The Hon’ble Apex Court in the cited case has succinctly put the legal proposition in the following manner: - “Assessing Officer has no power to review; he has the power to reassess

SOLO HARDWARE P. LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh & Shri Ramit Kochar

u/s 147 r.w.s 148 of the Act, therefore, before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

SWANSTON MULTIPLEX CINEMAS P.LTD,MUMBAI vs. ASST CIT CIR 11(1), MUMBAI

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2005-06 Swanston Multiplex Cinemas Acit, Private Limited, Circle-11(1), बनाम/ 9Th Floor, Viraj Towers, W.E. R. No.467, Vs. Highway Next To Andheri Aayakar Bhavan, Flyover Andheri (East), M. K. Road, Mumai-400093 Mumbai-400020 ("नधा"रती/Assessee) (राज"व /Revenue) Pan No.:-Aafcs6295K

u/s 147 r.w.s 148 of the Act. Before adverting further we are reproducing hereunder the relevant provision of section 147 of the Act for ready reference and analysis:- “. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections

ITO 8(1)(4), MUMBAI vs. SENTIA DEVELOPERS LTD, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2009-10

195 (Bom) (198) 325 ITR 471 (Bom) c. ICICI Prudential Life Insurance Co. Ltd. (2010) c. ICICI Prudential Life Insurance Co. Ltd. (2010) 325 ITR 471 d. Aventis Pharma Ltd. vs. Astt. CIT (2010) 323 ITR 570 (Bom) (577) d. Aventis Pharma Ltd. vs. Astt. CIT (2010) 323 ITR 570 (Bom) (577) d. Aventis Pharma Ltd. vs. Astt