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

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 5(2), MUMBAI vs. LAHOTI OVERSEAS LTD, MUMBAI

In the result, appeal of the assessee company in ITA

Bench: Shri Amit Shukla & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3812/Mum/2012 ("नधा"रण वष" / Assessment Year : 2003-04) Dy. Commissioner Of Income M/S Lahoti Overseas Ltd., बनाम/ Tax , 5(2),Room No. 571, 307, Arun Chambers, V. 5 Th Floor, Tardeo Road, Tardeo, Aayakar Bhavan, Mumbai - 400034. M.K. Road, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaacl2578 H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

reassessments can be framed u/s 147/148 of the Act if no new tangible material has come to the notice of the A.O. as there is no reason to believe based upon the new tangible material coming into the possession of the A.O. which could lead to forming an opinion that an income has escaped assessment, thus, it would warrant that

CRESCENT CONSTRUCTION CO.,NAVI MUMBAI vs. ASST CIT 22(3), NAVI MUMBAI

The appeal of the assessee is allowed and of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2005-06

ia) of the Act as the assessee had already deposited the TDS before the due date of filing of return u/s 139(1) of the Act, therefore, we find no justification to reopen the assessment beyond four years. 2.11. However, in the present appeal undisputedly, the assessment was framed u/s 143(3) r.w.s. 148 of the Act, meaning thereby

ITO 22(3)(1), NAVI MUMBAI vs. CRESCENT CONSTRUCTION, NAVI MUMBAI

The appeal of the assessee is allowed and of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2005-06

ia) of the Act as the assessee had already deposited the TDS before the due date of filing of return u/s 139(1) of the Act, therefore, we find no justification to reopen the assessment beyond four years. 2.11. However, in the present appeal undisputedly, the assessment was framed u/s 143(3) r.w.s. 148 of the Act, meaning thereby

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

35,12,097/- may be treated as filed in response \nto the notice under Section 148 of the Act. The Assessee was \nprovided a copy of reasons recorded for reopening the \nassessment and the same read as under:\n“The assessee has filed his revise return of income for \nA.Y.2010.11 on 24.03.2011 declaring total income of Rs. Nil. The \nreturn

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

35==\n\nof assessment for the subsequent assessment year.\n\n45. On perusal of reasons recorded for reopening assessment for the\n Assessment Year 2012-2013, we find that the Assessing Officer\nhad sufficient tangible material to form a belief that income\nchargeable to tax had escaped assessment. The reasons\nrecorded clearly and unambiguously identify the material on the\nbasis

SHAKUNTALA KAMBLE (LEGAL REPRESENTATIVE OF PREMCHAND KAMBLE),THANE vs. DCIT -CENT. CIR `, THANE

reassessment proceeding under Section 147 of the Act for the Assessment Year 2007-08 and 2008-09 have not been challenged on behalf of the Assessee. The appeals before the Tribunal are being pursued by the mother of the Appellant being his legal heir and duly constituted attorney of other ITA Nos. 1764-1767 & 1911-1912/Mum/2021

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) :

2 Taxman 197 has held that whether an assessment has escaped assessment or not must be determined by the Assessing Officer himself. The Assessing Officer cannot blindly follow the opinion of an audit authority for the purpose of arriving at a belief that income has escaped assessment. In the present facts, it would be noticed that the reasons for which

DCIT-1(2)1, MUMBAI., MUMBAI vs. PATIL CONSTRUCTION AND INFRASTRUCTURE LTD, MUMBAI

In the result In the result, all the three appeals filed by the revenue s filed by the revenue are dismissed

Bench: Shri Sandeep Gosain, Hon’Ble & Ms. Padmavathy S., Hon’Ble

2. Adhunik Infrastructure Pvt Ltd.,Vs. JCIT, ITA No. Adhunik Infrastructure Pvt Ltd.,Vs. JCIT, ITA No. Adhunik Infrastructure Pvt Ltd.,Vs. JCIT, ITA No. 1281/Kol/2015 1281/Kol/2015 3. Bhinmal Contractors Property and Land Developers Bhinmal Contractors Property and Land Developers Bhinmal Contractors Property and Land Developers P Ltd, Vs. ACIT, [2018] 93 taxmann.com 296 P Ltd, Vs. ACIT

DCIT-1(2)1, MUMBAI, MUMBAI vs. PATIL CONSTRUCTION AND INFRASTRUCTURE LTD, MUMBAI

In the result In the result, all the three appeals filed by the revenue s filed by the revenue are dismissed

Bench: Shri Sandeep Gosain, Hon’Ble & Ms. Padmavathy S., Hon’Ble

2. Adhunik Infrastructure Pvt Ltd.,Vs. JCIT, ITA No. Adhunik Infrastructure Pvt Ltd.,Vs. JCIT, ITA No. Adhunik Infrastructure Pvt Ltd.,Vs. JCIT, ITA No. 1281/Kol/2015 1281/Kol/2015 3. Bhinmal Contractors Property and Land Developers Bhinmal Contractors Property and Land Developers Bhinmal Contractors Property and Land Developers P Ltd, Vs. ACIT, [2018] 93 taxmann.com 296 P Ltd, Vs. ACIT

SAF YEAST COMPANY P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

147 of the Act dated 30.01.2006. The assessee filed appeal before CIT(A), who allowed deduction for both power generation undertakings at Sandila and Chiplun but he restricted the quantum as under: - a) For generation of cooling power he restricted the claim of of rate of conversion of 1 Tonne of refrigeration equal to 3.52KW of electric power

SAF YEAST COMPANY P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

147 of the Act dated 30.01.2006. The assessee filed appeal before CIT(A), who allowed deduction for both power generation undertakings at Sandila and Chiplun but he restricted the quantum as under: - a) For generation of cooling power he restricted the claim of of rate of conversion of 1 Tonne of refrigeration equal to 3.52KW of electric power

DCIT CEN CIR 40, MUMBAI vs. SAF YEAST CO. P. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

147 of the Act dated 30.01.2006. The assessee filed appeal before CIT(A), who allowed deduction for both power generation undertakings at Sandila and Chiplun but he restricted the quantum as under: - a) For generation of cooling power he restricted the claim of of rate of conversion of 1 Tonne of refrigeration equal to 3.52KW of electric power

DCIT CEN CIR 40, MUMBAI vs. SAF YEAST CO. P. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

147 of the Act dated 30.01.2006. The assessee filed appeal before CIT(A), who allowed deduction for both power generation undertakings at Sandila and Chiplun but he restricted the quantum as under: - a) For generation of cooling power he restricted the claim of of rate of conversion of 1 Tonne of refrigeration equal to 3.52KW of electric power

SAF YEAST COMPANY P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

147 of the Act dated 30.01.2006. The assessee filed appeal before CIT(A), who allowed deduction for both power generation undertakings at Sandila and Chiplun but he restricted the quantum as under: - a) For generation of cooling power he restricted the claim of of rate of conversion of 1 Tonne of refrigeration equal to 3.52KW of electric power