SURINCO WORKWEAR P. LTD,MUMBAI vs. ITO 8(3)(2), MUMBAI

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1290/Mum/2017 (नििाारण वर्ा / Assessment Year : 2009-10 बिाम/ M/S. Surinco Workwear Ito 8(3)(2) Private Ltd., R.No. 412, 36, Marol Industrial Aayakar Bhavan, V. Estate, Mumbai 400021 M. Vasanji Road, Andheri (E), Mumbai-400 059 स्थायी ऱेखा सं./ Pan: Aaacs5694K (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Ms. Heena Sheth Revenue By: Shri. O.P Meena (Dr) सुनवाई की तारीख /Date Of Hearing : 04.02.2019 घोषणा की तारीख /Date Of Pronouncement : 01.05.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 1290/Mum/2017, Is Directed Against Appellate Order Dated 01.11.2016 In Appeal No. Cit(A)-18/It-126/Ito-8(3)(2)/14-15, Passed By Learned Commissioner Of Income Tax(Appeals)-18, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2009-10, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Penalty Order Dated 28.03.2014 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 271(1)(C) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2009- 10. I.T.A. No.1290/Mum/2017

section 271(1)(c) of the Act. The penalty levied by lower authorities is therefore ordered to be deleted. 5. In the result, the appeal of the assessee is hereby allowed.” 13 | P a g e I.T.A. No.1290/Mum/2017 Thus, tribunal in assessee‟s own case for AY 2003-04 was pleased to delete penalty u/s 271(1)(c) by holding

NSE IT LTD,MUMBAI vs. DCIT 8(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.5935/Mum/2014 (नििाारण वर्ा / Assessment Year: 2005-06) बिाम/ M/S. Nse. It Ltd, Dcit 8(2), Mumbai Trade Globe, Ground Floor, Andheri Kurla Road, V. Andheri (E), Mumbai 400059 स्थायी ऱेखा सं./ Pan : Aabcn0159P (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

reassessment order passed u/s 147 r.w.s. 143(3) wherein returned income was accepted by the AO vide orders dated 06-07-2010 . The AO invoked penalty proceeding u/s 271(1)(c) against the assessee for furnishing of inaccurate particulars of income u/s. 271(1)(c) of the Act in the assessment order passed u/s 143(3) r.w.s. 147 dated

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

reassessment initiated penalty proceedings under Sec. 271(1)(c) in respect of „furnishing of inaccurate particulars of income‟ by the assessee in respect of the aforesaid amount of Rs.93,22,558/- which was earlier claimed by the assessee as an expenditure in its „books of account‟. 4. That as the assessee had voluntarily disallowed the amount of Rs.93

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

reassessment initiated penalty proceedings under Sec. 271(1)(c) in respect of „furnishing of inaccurate particulars of income‟ by the assessee in respect of the aforesaid amount of Rs.93,22,558/- which was earlier claimed by the assessee as an expenditure in its „books of account‟. 4. That as the assessee had voluntarily disallowed the amount of Rs.93

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

reassessment initiated penalty proceedings under Sec. 271(1)(c) in respect of „furnishing of inaccurate particulars of income‟ by the assessee in respect of the aforesaid amount of Rs.93,22,558/- which was earlier claimed by the assessee as an expenditure in its „books of account‟. 4. That as the assessee had voluntarily disallowed the amount of Rs.93

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

reassessment initiated penalty proceedings under Sec. 271(1)(c) in respect of „furnishing of inaccurate particulars of income‟ by the assessee in respect of the aforesaid amount of Rs.93,22,558/- which was earlier claimed by the assessee as an expenditure in its „books of account‟. 4. That as the assessee had voluntarily disallowed the amount of Rs.93

DCIT 3(3)(1), MUMBAI vs. RELIANCE GENERAL INSURANCE COMPANY LTD, MUMBAI

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

reassessment initiated penalty proceedings under Sec. 271(1)(c) in respect of „furnishing of inaccurate particulars of income‟ by the assessee in respect of the aforesaid amount of Rs.93,22,558/- which was earlier claimed by the assessee as an expenditure in its „books of account‟. 4. That as the assessee had voluntarily disallowed the amount of Rs.93

ORBIT ENTERPRISES,MUMBAI vs. ITO 15(2)(2), MUMBAI

In the result, appeal of the assessee for the Assessment Year

Bench: Shri G.S. Pannu & Shri Ravish Sood

147 of the Act dated 22.12.2008, the Assessing Officer made an addition of Rs.68,20,000/- representing unaccounted amounts received by the assessee for sale of flats to one M/s. Unimark Remedies Ltd. The relevant discussion in the assessment order shows that the addition was based on documents and information found in the course of a search action u/s

ORBIT ENTERPRISES,MUMBAI vs. ITO 15(2)(2), MUMBAI

In the result, appeal of the assessee for the Assessment Year

Bench: Shri G.S. Pannu & Shri Ravish Sood

147 of the Act dated 22.12.2008, the Assessing Officer made an addition of Rs.68,20,000/- representing unaccounted amounts received by the assessee for sale of flats to one M/s. Unimark Remedies Ltd. The relevant discussion in the assessment order shows that the addition was based on documents and information found in the course of a search action u/s

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

147 of the Act was passed on 19th march, 2015, determining the total income of the assessee at ₹17,81,070/- by making addition of 12.5% of alleged bogus purchases. Reassessment order was challenged before the learned CIT (A) unsuccessfully and consequently, before the ITAT. As per the order of the ITAT dated 25th October, 2021, in ITA No.2947/Mum/2019

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

147 of the Act was passed on 19th march, 2015, determining the total income of the assessee at ₹17,81,070/- by making addition of 12.5% of alleged bogus purchases. Reassessment order was challenged before the learned CIT (A) unsuccessfully and consequently, before the ITAT. As per the order of the ITAT dated 25th October, 2021, in ITA No.2947/Mum/2019

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

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

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

ESTATE OF VANDRAVAN P SHAH,MUMBAI vs. ASSISTANT COMISSIONER OF INCOME TAX, CIRCLE 19(3), MUMBAI

In the result all the three captioned appeals are dismissed

Bench: Sandeep Gosain () & Shri Om Prakash Kant ()

271(1)(c) of the I. T. Act for furnishing inaccurate particulars furnishing inaccurate particulars of income.” 4.6 The Assessing Officer passed the order u/s 143(3) r.w.s. 147 of The Assessing Officer passed the order u/s 143(3) r.w.s. 147 of The Assessing Officer passed the order u/s 143(3) r.w.s. 147 of on 20.12.2018 under the name

VASWANI TRUST,MUMBAI vs. ITO 12(2)(4), MUMBAI

In the result, this appeal of assessee is partly allowed

Bench: Shri Sandeep Gosain & Shri G. Manjunatha

section 271(1)© as the said amount depicts the part of total income In respect of which particulars have been concealed and inaccurate particulars furnished........ The assessee itself mentioned that the assessee in question is an AOP and that the total income of the assessee gets allocated/transferred to its beneficiaries to their respective shares. In other words, the primary task

SHYAM KUMAR SADASHIVAN PILLAI,MUMBAI vs. INCOME TAX OFFICER, CIRCLE 27(3)(1), NAVI MUMBAI

In the result, the appeal is allowed

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

147 of the Income Tax Act, 1961 ('the Act'). The AO issued notices under section 142(1) of the Act dated 28.10.2022, 22.12.2022, 10.01.2023 & 25.01.2023. The assessee did not respond to notices and therefore, the AO issued a penalty notice under section 271(1)(b) dated 01.02.2023 asking the assessee to show-cause why an order imposing penalty should

DWARKA CEMENT WORKS LIMITED(CONVERTED INTO DWARKA CEMENT WORKS LLP W.E.F 15-09-2022),MUMBAI vs. THE INCOME TAX OFFICER,WARD-6(2)(1),MUMBAI, MUMBAI

In the result, the appeal of the assessee is allowed

reassessment order, the Assessing Officer held\nthat the reduction in loss from Rs. 1,15,25,958/- as originally\nreturned to Rs. (-) 30,057/- represented concealment of income to\nthe extent of Rs. 1,14,95,901/-\n6. On the aforesaid basis, the Assessing Officer initiated and\nsubsequently levied penalty under section 271(1)(c) of the Act at\n100