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

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under section

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

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under section

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

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

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

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the 53 Meridian Chem Bond P Ltd. & Meenakshi N Shah ITA No.7385 & 7082/Mum/2016 & C.O. No.86

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

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under section

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

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under section

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

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

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

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under section

DCIT CIR. 4(3)(2), MUMBAI vs. VIPUL IMPEX & INFRABUILD LTD., MUMBAI

The appeals of the Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri G. Manjunatha

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under ITA Nos.2313

VIPUL IMPEX & INFRABUILD LTD.,MUMBAI vs. ACIT-4(2), MUMBAI

The appeals of the Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri G. Manjunatha

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under ITA Nos.2313

DCIT CIR. 4(3)(2), MUMBAI vs. VIPUL IMPEX & INFRABUILD LTD., MUMBAI

The appeals of the Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri G. Manjunatha

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under ITA Nos.2313

VIPUL IMPEX & INFRABUILD LTD.,MUMBAI vs. ACIT-4(2), MUMBAI

The appeals of the Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri G. Manjunatha

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under ITA Nos.2313

DCIT CIR. 4(3)(2), MUMBAI vs. VIPUL IMPEX & INFRABUILD LTD., MUMBAI

The appeals of the Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri G. Manjunatha

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under ITA Nos.2313

VIPUL IMPEX & INFRABUILD LTD.,MUMBAI vs. ACIT-4(2), MUMBAI

The appeals of the Revenue are allowed for statistical purposes

Bench: Shri Joginder Singh & Shri G. Manjunatha

47(vii), initiation of reassessment proceedings after four years has been sustained because there was failure on the part of the assessee to disclose material facts necessary for assessment. Likewise, in Suman Steels v. Union of India, (2004) 269 ITR 412,418-19 (Raj), where the return of the assessee for assessment year 1995-96 was processed under ITA Nos.2313

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

47 includes loose papers showing the alleged cash loan taken by the Appellant (i.e. M/s. Lodha Construction Pvt. Ltd) from the following parties: Name of the Sr.No. Date Amount Interest Rate lender 1. Mahendrabhai K. 02-07-2010 45,00,000/- 1% per month i.e. 12% Shah per annum 2. B.P. Mehta