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

u/s\nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834,\n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024\n Assessment Year 2010-2011, 2012-2013 to 2019-2020\n8\n37. In view of all the above, for the A.Y. 2010-11 I have reason\nto believe that income assessable to tax amounting to more

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

u/s\n\nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834,\n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024\n Assessment Year 2010-2011, 2012-2013 to 2019-2020\n9\n37. In view of all the above, for the A.Y. 2010-11 I have reason\nto believe that income assessable to tax amounting

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)

reassessment proceedings were initiated in the case of the Assessee which culminated into passing of Assessment Order, dated 29/06/2016 under Section 143(3) read with Section 147 of the Act. Thereafter, the case was again reopened under Section 147 of the Act after recording the reason and after obtaining the approval from the competent authority. The notice under Section

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)

reassessment proceedings were initiated in the case of the Assessee which culminated into passing of Assessment Order, dated 29/06/2016 under Section 143(3) read with Section 147 of the Act. Thereafter, the case was again reopened under Section 147 of the Act after recording the reason and after obtaining the approval from the competent authority. The notice 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)

reassessment proceedings were initiated in the case of the Assessee which culminated into passing of Assessment Order, dated 29/06/2016 under Section 143(3) read with Section 147 of the Act. Thereafter, the case was again reopened under Section 147 of the Act after recording the reason and after obtaining the approval from the competent authority. The notice under Section

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)

reassessment proceedings were initiated in the case of the Assessee which culminated into passing of Assessment Order, dated 29/06/2016 under Section 143(3) read with Section 147 of the Act. Thereafter, the case was again reopened under Section 147 of the Act after recording the reason and after obtaining the approval from the competent authority. The notice under Section

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

u/s \nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834, \n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024 \n Assessment Year 2010-2011, 2012-2013 to 2019-2020 \n10 \nSection 147 of the Act shall be taken after the expiry of four \nyears from the end of the relevant assessment year unless \nincome chargeable

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

Accordingly, in terms of the aforesaid, Ground No. 3 to\n7 raised by the Assessee pertaining to merits of such\nadditions/disallowances are dismissed as having been rendered\ninfructuous

Section 147 of the Act. In the aforesaid\nappeal the Assessee has filed Cross-objections (C.O.\nNo.97/Mum/2024).\n\nITA No.2616/Mum/2025 (Assessee’s Appeal)\n\n25. We would take up ITA 2616/Mum/2025 preferred by the\nAssessee which is directed against the Order, dated 20/03/2024,\npassed by the CIT(A) whereby the appeal preferred by the\nAssessee against the Assessment Order, dated

LIC HOUSING FINANCE LIMITED,MUMBAI vs. ACIT 2(2)(1), MUMBAI, AAYKAR BHAVAN, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2017-18

section 37(1) redundant. The statutory distinction between business 37(1) redundant. The statutory distinction between business 37(1) redundant. The statutory distinction between business deductions and Chapter VI deductions and Chapter VI-A incentives must be respected, and A incentives must be respected, and their misuse avoided in letter and spirit. their misuse avoided in letter and spirit. Accordingly

MR NILESH BHARANI,MUMBAI vs. DCIT CC 4(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No. 612/Mum/2020 (निर्धारणवर्ा / Assessment Year: 2011-12)

sections legislated for the purpose that no time limit has been prescribed by the statute anywhere to issue a notice u/s 153A of the Act requiring the person searched to furnish the return of income therein for assessment / reassessment as is prescribed for issuing a notice u/s 148 of the Act. The limitation stipulated by the legislature is only

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

37\nof the Act in respect of identical payments made to motor car \ndealers by the Assessee. After referring to the tangible material, \nthe Assessing Officer initiate reassessment proceedings \nconcluding as under:\n“For the A.Y.2010-11, the nature of expenses in the form of \npayments made to motor car dealers needs to be examined \non the same issue

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

reassessment proceedings\nwere initiated within a period of four years from the end of the\nrelevant assessment year and therefore, First Proviso to Section\n147 of the Act was not applicable. Placing reliance upon\nParagraph 6.1.1 and 6.1.2 of the order impugned, the Learned\nDepartmental Representative submitted that the reasons\n\n==End of OCR for page 16==\n\nrecorded

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

reassessment order passed under section \n143(3) read with section 147 of the Income Tax Act (‘the \nAct’) as valid. \n2. The CIT(A) failed to appreciate the fact that in the reasons \nrecorded, the AO has not disclosed any specific non- \nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834, \n2827

M/S. RAVI FOUNDATION ,MUMBAI vs. PR. CIT-17, MUMBAI

In the result, the appeal of the assessee is hereby allowed

u/s 263(2) of the Act is clearly barred by limitation which is beyond two years. In this regard, we also find support of the decision in the case of Ashoka Buildcon Ltd. Vs. ACIT Writ Petition No.10160 of 2009 dated 23.04.2010 and we also find support of the decision of the Hon’ble ITAT in the case of Royal

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

u/s\nITA No. 2616-2623 /Mum /2024, ITA No. 2845, 2841, 2836, 2834,\n2827, 2830 & 2823 / Mum / 2024 & C.O. No. 97 & 96 / Mum / 2024\n Assessment Year 2010-2011, 2012-2013 to 2019-2020\n8\n37. In view of all the above, for the A.Y. 2010-11 I have reason\nto believe that income assessable to tax amounting to more

DR BATRAS POSITIVE HEALTH CLINIC PRIVATE LIMITED,MUMBAI vs. CIT(A), NFAC, NATIONAL FACELESS APPEAL CENTRE

In the result, all the appeals of the assessee

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Ita Nos. 2748, 2747 & 2761/Mum/2023 Assessment Year: 2011-12, 2012-13 & 2013-14 Dr Batras Positive Health Clinic Cit(A), National Faceless Pvt. Ltd., Appeal Centre, Delhi. 2Nd Floor, H Kantilal Compound, Vs. Andheri Kurla Road, Sakinaka Andheri East-400072 Pan No. Aabcd 3857 G Appellant Respondent

u/s 151 does not satisfy that AO has applies his mind; not satisfy that AO has applies his mind; 1.2.7. the reassessment is otherwise bad in law; 1.2.7. the reassessment is otherwise bad in law; 1.3. The Appellant prays that the reopening proceedings u/s. 147 1.3. The Appellant prays that the reopening proceedings u/s. 147 1.3. The Appellant prays that

DR BATRAS POSITIVE HEALTH CLINIC PRIVATE LIMITED,MUMBAI vs. CIT(A), NATIONAL FACELESS APPEAL CENTRE

In the result, all the appeals of the assessee

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Ita Nos. 2748, 2747 & 2761/Mum/2023 Assessment Year: 2011-12, 2012-13 & 2013-14 Dr Batras Positive Health Clinic Cit(A), National Faceless Pvt. Ltd., Appeal Centre, Delhi. 2Nd Floor, H Kantilal Compound, Vs. Andheri Kurla Road, Sakinaka Andheri East-400072 Pan No. Aabcd 3857 G Appellant Respondent

u/s 151 does not satisfy that AO has applies his mind; not satisfy that AO has applies his mind; 1.2.7. the reassessment is otherwise bad in law; 1.2.7. the reassessment is otherwise bad in law; 1.3. The Appellant prays that the reopening proceedings u/s. 147 1.3. The Appellant prays that the reopening proceedings u/s. 147 1.3. The Appellant prays that

DCIT, CIRCLE 42(1)(1), INCOME TAX DEPARTMENT vs. GHANSHYAM RASIKLAL SHAH, MUMBAI

In the result, the appeal of the revenue bearing ITA No

Bench: Shrinarendra Kumar Billaiya & Shri Anikesh Banerjeedcit, Circle 42(1)(1), Mumbai Vs Ghanshyam Rasiklal Shah Room 732, 7Th Floor, B-1408, Shankar Park, Agrawal Kautilya Bhavan, Bkc, Bandra Residency, Shankar Lane, Kandivali East, Mumbai-400 051 West, Mumbai-400 067 Pan: Aafps1306Q Appellant Respondent

37,43,500/- under section 69A based on the seized MOU with Ameya group, addition was made of Rs.1,19,40,900/- on the basis of the seized documents, addition of Rs.25 lakhs on account of cash loan to Ameya group under section 69A and interest on loan amount to Rs. 6,60,000/- under section 69A was added back