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

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

Section 147 of the Act was disposed off \nas partly allowed. Assessee has also filed Cross Objection (C.O. \nNo.97/Mum/2024) in Revenue’s Appeal.\nITA No.2845/Mum/2024 [Revenue’s Appeal]\n67. The Revenue has raised three grounds of appeal in ITA No. \n2845/Mum/2024 which are taken up hereinafter in seriatim.\nGround No.1\n68. Ground No. 1 raised by the Revenue reads

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

Section 37(1) of the Act would not\napply. In this context, we respectfully agree with the\nobservations made by the coordinate Bench in case of\nMilestone Real Estate Fund (Supra). Pertinently, in case of\nM/s Cholamandalam MS General Insurance Co. Ltd. [2025]\n174 taxmann.com 603 (Mad.), identical issue of\ndisallowance of payment made to motor vehicle dealers\nu/s.37

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

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

sections 30 to 43A and,\ntherefore, unless there was a specific\nprohibition for such an allowance, the\ndepartmental authorities would not be\njustified in. adding back the amount under\nrule 5(a), Therefore, even if the debit for\namortization is considered as an\nexpenditure, there is no specific prohibition\nagainst allowing such an expenditure\nunder the provisions of sections

NAVNIDHI STEEL AND ENGG CO. P.LTD,MUMBAI vs. DCIT 5(2)(1), MUMBAI

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh, Assessment Year: 2007-08

reassessment proceedings even when intimation under section 143(1) had been issued. 19. Inevitable conclusion is that High Court has wrongly applied Adani Exports case (supra) which has no application to the case on the facts in view of the conceptual difference between section 143(1) and section 143(3) of the Act. 24 Navnidhi Steel & Engg

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

264 ITR 254)(Gau) held that transaction by cheques may not be always 25 Meridian Chem Bond P Ltd. & Meenakshi N Shah ITA No.7385 & 7082/Mum/2016 & C.O. No.86 & 85/Mum/2018 sacrosanct. In the present appeal, we find that the assessee duly furnished the details of loan before the learned Assessing Officer as well as before the learned CIT(A). The loan

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

reassessment is within the period of limitation prescribed under the proviso to section 147. Explanation (1 ) to the said provision makes it clear that production of account books or other evidence from which the Assessing Officer could with due diligence discover material evidence would not necessarily amount to disclosure within the meaning of the proviso that stipulates an extended period

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) :

reassessing the same in view of 2nd proviso to Section 147. On Merits 4.2.1 Regarding deduction u/s 35DDA, it has been submitted that leave encashment, gratuity and pension payments were statutory payments though paid at the time of retirement of employees under ERO scheme. These payments do not fall within the ambit of Section 35DDA as the liability to make

DISHA N . LALWANI,MUMBAI vs. ITO WD 23(2)(2), MUMBAI

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2003-04 Disha N. Lalwani, Income Tax Officer- J-301, Vardhaman Nagar 23(2)(2), बनाम/ Jn. Of R.P. Rd. & M.G. Rd. C-10-Pratyakshkar Vs. Mulund (W), Bhavan, 02Nd Floor, Mumbai-400080 Bandra Kurla Complex, Bandra, Mumbai-400007 ("नधा"रती/Assessee) (राज"व /Revenue) P.A. No. Aaapl6056H

264 (Del.). The reopening of assessment was argued to be validly made by defending the impugned order. A strong plea was raised that even the assessee did cross 4 Disha N. Lalwani examination of Shri Mukesh Chokshi. When confronted on the issue of cross examination, the ld. counsel for the assessee fairly agreed that Mr. Mukesh Chokshi were cross examined

DCIT- CIR- 6(3)(1), MUMBAI vs. IMPERIAL PROCUREMENT SERVICES PVT. LTD., MUMBAI

In the result, the appeal of Revenue is dismissed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

reassessment under Section 147 is completed, for the said assessment year no action under Section 147 of the Act is possible after the expiry of four years from 15 the end of the relevant assessment year unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee

ACIT (E) 20(3), MUMBAI vs. SEEMA DILIP VORA, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year:2007-08 Acit-20(3), Ms. Seema Dilip Vora, Room No.622, 71/72, Rajkamal Apartment बनाम/ Piramal Chambers, Lalbaug, Rajkamal Marg, Rajkamal Vs. Mumbai Studio, Near Gandhi Hospital, Parel, Mumbai-400012 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aabpv0816C

reassessment proceedings has to be governed by the provisions of section 147 to 151 as substituted (amended) w.e.f. 01/04/1989. Still, power u/s 147 of the Act, though very wide but no plenary. We are aware that Hon’ble Gujarat High Court in Praful Chunilal Patel: Vasant Chunilal Patel vs ACIT (1999) 236 ITR 82, 840 (Guj.) even went

MR. SATYA PRAKASH SINGH,MUMBAI vs. ITO, WARD-28(3)(1), VASHI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

264 shall be made within the time specified in sub- section (3). (5A) Where the Transfer Pricing Officer gives effect to an order or direction under section 263 by an order under section 92CA and forwards such order to the Assessing Officer, the Assessing Officer shall proceed to modify the order of assessment or reassessment or recomputation, in conformity with

ITO-28(3)(1), MUMBAI, MUMBAI vs. SATYA PRAKASH SINGH, MUMBAI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

264 shall be made within the time specified in sub- section (3). (5A) Where the Transfer Pricing Officer gives effect to an order or direction under section 263 by an order under section 92CA and forwards such order to the Assessing Officer, the Assessing Officer shall proceed to modify the order of assessment or reassessment or recomputation, in conformity with

JOHNSON & JOHNSON LTD,MUMBAI vs. ADDL CIT LARGE TAXPAYER UNIT, MUMBAI

In the result, the appeal of the assessee is allowed in the terms aforesaid

Bench: Shri Vikas Awasthy & Shri Manoj Kumar Aggarwalआअसं. 4912/मुं/2013 ("न.व.2004-05) Johnson & Johnson Private Limited (Earlier Known As Johnson & Johnson Limited) 501, Arena Space, Off Jvlr, Behind Majas Bus Depot, Jogeshwari (East) Mumbai 400 060 Pan: Aaacj0866E ...... अपीलाथ" /Appellant बनाम Vs. Additional Commissioner Of Income Tax, Large Taxpayer Unit, 29Th Floor, Centre No.1, World Trade Centre, Cuffe Parade, Mumbai 400 005 ..... ""तवाद"/Respondent

reassessment proceedings. The ld. AR contended that the assessee filed its return of income on 01/11/2004. The assessment u/s. 143(3) was completed on 28/11/2006. The first notice under section 148 of the Act was issued to the assessee on 02/07/2008. The assessee filed reply to the said notice on 23/07/2008 and filed return on 30/07/2008. No action was taken

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)

147 of the Act based on such tangible and material incriminating information , and notices u/s 148 was issued by the AO on 25th March, 2014, which is issued within four years from the end of the assessment year. Thus, it cannot be said that ITA 4463/Mum/2016 16 the Revenue has reopened the assessment based upon suspicion rather genesis

JT. CIT (ODS) - CC -1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

264 taxman 222]. The court’s observation vis-à-vis, validity of reassessment proceeding on the material available on records is as under: - “As per this Explanation thus, production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure