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

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that any money, bullion, jewellery or valuable article or thing or books of account or documents seized or requisitioned belongs or belong to a person other than the person referred to in section 153A, then the books of account or documents or assets seized

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)

234B of Rs.35,77,341/- The Ld. Counsel for the assessee contended that the assessee is challenging legality and validity of reopening of the concluded assessment u/s. 147 and grounds of appeal no. 1(a) and 1(b) filed with memo of appeal with tribunal are directed towards challenging legality and validity of reopening of concluded assessment u/s. 147

RATNAGIRI STAINLESS P. LTD,MUMBAI vs. ITO 5(3)(1), MUMBAI

In the result, appeal filed by the assessee in ITA No

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 4463/Mum/2016 ("नधा"रण वष" / Assessment Year : 2009-10) M/S Ratnagiri Stainless Pvt. Income Tax Officer 5(3)(1), बनाम/ Ltd., Mumbai. V. 21/23, Laxmi Niwas, 2 Nd Parsiwada Lane, Opp V.P. Road Police Station, Mumbai – 400 004. "थायी लेखा सं./Pan : Aadcr2993P (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

234B, 234C and 234D of the Act. ITA 4463/Mum/2016 3 7. The appellant crave leave to add, amend , alter and/or vary any of the grounds of appeal before or at the time of hearing.” 3. At the outset learned counsel for the assessee submitted that the assessee did not wish to press ground no. 1,2,5 and 6 raised

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

147, 20 M/s Salasar Developers ITA No.4511 TO 4513/Mum/2014 section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall— (a)issue notice

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

147, 20 M/s Salasar Developers ITA No.4511 TO 4513/Mum/2014 section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall— (a)issue notice

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

147, 20 M/s Salasar Developers ITA No.4511 TO 4513/Mum/2014 section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall— (a)issue notice

BALAJI UNIVERSAL TRADELINK P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

The appeals of the assessee are allowed and that of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri Sanjay Arora

147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall— (a)issue notice to such person requiring him to furnish within

M/S.BALAJI BULLION & COMMODITIES (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE-40, MUMBAI

In the result, both the appeals are allowed

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Balaji Bullion & Commodities The Dy. Commissioner Of (India) Private Limited Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002 (Appellant) (Respondent) Pan No. Aadcbo236F Balaji Universal Tradelinks P. The Dy. Commissioner Of Ltd. Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002

234B and 234C of the IT Act, 1961. 22. The learned A. O. erred in initiating penalty proceedings u/s. 271 (1) (c) of the Income Tax Act, 1961. 23. Any other ground or grounds as may be urged at the time of hearing.” 06. Assessee in ITA No 1292 is a company engaged in trading in gold bar, gold jewellery

SHRI MOHAN THAKUR,MUMBAI vs. A.C.I.T. CENT. CIR. 8(4), MUMBAI

In the result, the appeal of the assessee is hereby ordered to be allowed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.7413 /Mum/2017 (ननधधारण वर्ा / Assessment Years: 2008-09) बनधम/ Shri Mohan Thakur Acit, Central Circle-8(4) 6Th Floor Aayakar Bhavan, 4, Flora Vila, 35, St. Vs. M.K. Road, Mumbai- Andrews Road, Bandra 400020. (W), Mumbai-400050. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. :Aaapt2966N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri Durga Dutt/ Akhtar H. Ansari (Dr) Assessee By: Dr. K. Shivaram सुनवाई की तारीख / Date Of Hearing: 15/11.2019 घोषणा की तारीख /Date Of Pronouncement: 09/01/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 30.10.2017 Passed By The Commissioner Of Income Tax (Appeals)-50, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2008- 09. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “The Learned Cit(A) Erred In Upholding The Validity Of Notice U/S 148 Where The Proceedings U/S 153C Had Already Been Initiated Which Were Dropped & Immediately The Reassessment Proceedings Had Been Initiated Without Any Fresh Material On Record & Hence Reopening Is Void- Ab - Initio Merit : Addition Of Rs.237.00.000/- Based On Entries In Diary Of Third Person: 2. No Addition Can Be Made Based On Entries Found In The Books In Third Party'S Premises Since No Search U/S 132 Had Taken Place On The Assessee & Hence S.132(4A) Would Not Be Applicable To The Present Facts Of The Case. In View Of The Same The Entire Addition May Be Deleted.

1) of section 245D is received by the Commissioner under sub-section (2) of that section, shall be excluded. If, after the exclusion of the aforesaid period, the period of limitation available to the Assessing Officer for making an order of assessment or reassessment, as the case may be, is less than sixty days, such remaining period shall be extended

JSW STEEL LTD,MUMBAI vs. DCIT CEN CIR 18 &19, MUMBAI

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Sri Mahavir Singh & Sri Manoj Kumar Agarwal

234B of the Act also mandates only the „increase‟ in the amount of interest pursuant to assessment under section 153A of the Act. Section 240 of the Act does not entitle an assessee to claim refund of the tax paid in excess of the tax chargeable on the total income returned by the assessee in cases where assessments have already

JSW STEEL LTD,MUMBAI vs. DCIT CEN CIR 18 &19, MUMBAI

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Sri Mahavir Singh & Sri Manoj Kumar Agarwal

234B of the Act also mandates only the „increase‟ in the amount of interest pursuant to assessment under section 153A of the Act. Section 240 of the Act does not entitle an assessee to claim refund of the tax paid in excess of the tax chargeable on the total income returned by the assessee in cases where assessments have already

JSW STEEL LTD,MUMBAI vs. DCIT CEN CIR 18 &19, MUMBAI

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Sri Mahavir Singh & Sri Manoj Kumar Agarwal

234B of the Act also mandates only the „increase‟ in the amount of interest pursuant to assessment under section 153A of the Act. Section 240 of the Act does not entitle an assessee to claim refund of the tax paid in excess of the tax chargeable on the total income returned by the assessee in cases where assessments have already

M/S GUJARAT REALTORES ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1, , THANE

In the result, the appeal for assessment year 2009

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3523 To 3525/Mum/2023 Assessment Years: 2009-10, 2012-13, 2013-14 M/S Gujarat Realtors, Dy. Cit Central Circle-1, Ground Floor, Samriddhi, Room No. 10, 6Th Floor, Ashar Annapurna Estate, Indralok, Vs. It Park, Wagle Industrial Godhbunder Link Road, Thane, Estate, Thane (W)-400604. Bhayander, 401105. Pan No. Aahfg 0051 C Appellant Respondent Assessee By : Mr. Anuj Kisnadwala Revenue By : Mr. Manoj Kumar Singh, Sr. Dr Date Of Hearing : 16/04/2024 : Date Of Pronouncement 30/05/2024

234B of the Act. 8. In the instant assessment year also the assessee has raised In the instant assessment year also the assessee has raised In the instant assessment year also the assessee has raised the ground No. 2 challenging the reassessment proceedings on the the ground No. 2 challenging the reassessment proceedings on the the ground No. 2 challenging

M/S. GUJARAT REALTORS (FIRM),BHAYANDER vs. DCIT, CC-1, THANE

In the result, the appeal for assessment year 2009

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3523 To 3525/Mum/2023 Assessment Years: 2009-10, 2012-13, 2013-14 M/S Gujarat Realtors, Dy. Cit Central Circle-1, Ground Floor, Samriddhi, Room No. 10, 6Th Floor, Ashar Annapurna Estate, Indralok, Vs. It Park, Wagle Industrial Godhbunder Link Road, Thane, Estate, Thane (W)-400604. Bhayander, 401105. Pan No. Aahfg 0051 C Appellant Respondent Assessee By : Mr. Anuj Kisnadwala Revenue By : Mr. Manoj Kumar Singh, Sr. Dr Date Of Hearing : 16/04/2024 : Date Of Pronouncement 30/05/2024

234B of the Act. 8. In the instant assessment year also the assessee has raised In the instant assessment year also the assessee has raised In the instant assessment year also the assessee has raised the ground No. 2 challenging the reassessment proceedings on the the ground No. 2 challenging the reassessment proceedings on the the ground No. 2 challenging

M/S GUJARAT REALTORES,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONER OF INCOME TAX -CENTRAL CIRCLE 1, THANE, THANE

In the result, the appeal for assessment year 2009

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3523 To 3525/Mum/2023 Assessment Years: 2009-10, 2012-13, 2013-14 M/S Gujarat Realtors, Dy. Cit Central Circle-1, Ground Floor, Samriddhi, Room No. 10, 6Th Floor, Ashar Annapurna Estate, Indralok, Vs. It Park, Wagle Industrial Godhbunder Link Road, Thane, Estate, Thane (W)-400604. Bhayander, 401105. Pan No. Aahfg 0051 C Appellant Respondent Assessee By : Mr. Anuj Kisnadwala Revenue By : Mr. Manoj Kumar Singh, Sr. Dr Date Of Hearing : 16/04/2024 : Date Of Pronouncement 30/05/2024

234B of the Act. 8. In the instant assessment year also the assessee has raised In the instant assessment year also the assessee has raised In the instant assessment year also the assessee has raised the ground No. 2 challenging the reassessment proceedings on the the ground No. 2 challenging the reassessment proceedings on the the ground No. 2 challenging

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

147 of the Act by the Ld. AO, without appreciating that the reopening is without jurisdiction, bad in law and void reopening is without jurisdiction, bad in law and void-ab-initio. initio. The Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

147 of the Act by the Ld. AO, without appreciating that the reopening is without jurisdiction, bad in law and void reopening is without jurisdiction, bad in law and void-ab-initio. initio. The Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding be held as without he Appellant prays that reassessment proceeding

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

147, 148 and 151 and determine the total income of the assessee. Such determination in the orders passed under Section 153A would be similar to the orders passed in any reassessment, where the total income determined in the original assessment order and the income that escaped assessment are clubbed together and assessed as the total income. In such a case