THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX , INCOME TAX OFFICER, NFAC, 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

Bench: "CLEAN_TEXT": "IN THE INCOME TAX APPELLATE TRIBUNAL\n\"I\" BENCH, MUMBAI\n\nSHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER\nSHRI RAHUL CHAUDHARY (Judicial Member)

Section 40(1) of the Insurance Act, 1938, no\nperson shall after the expiry of six months from the\ncommencement of this Act, pay or contract to pay any\nremuneration or reward whether by way of commission or\notherwise for soliciting or procuring insurance business in\nIndia to any person except an insurance agent or an\nintermediary or insurance intermediary

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

WIN CABLE & DATACOM P.LTD,MUMBAI vs. ASST CIT (TDS) 3(1), MUMBAI

In the result, appeals filed by the assessee are hereby allowed

Bench: S/Shri R.C. Sharma (Am) & Amarjit Singh (Jm) I.T.A. No. 3635/Mum/2016(Assessment Year 2001-02)

u/s 201(1A) also. We hold accordingly.” 24 Thereafter, from paragraph 17.11 the Tribunal dealt with the contentions of the Assessee that the time limit for initiation and completion of the proceedings under Section 201(1) ought to be the period of four years. The cases relied upon have been referred to and in paragraph 17.14 it is held that

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

37 Navnidhi Steel & Engg. Co. Pvt. Ltd. the Assessing Officer will not neces-sarily amount to disclosure within the meaning of this section." 16. Section 147 authorises and permits the Assessing Officer to assess or reassess income chargeable to tax if he has reason to believe that income for any assessment year has escaped assessment. The word "reason

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

37\n==End of OCR for page 10==\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

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

Section 40(1) of the Insurance Act, 1938, no\nperson shall after the expiry of six months from the\ncommencement of this Act, pay or contract to pay any\nremuneration or reward whether by way of commission or\notherwise for soliciting or procuring insurance business in\nIndia to any person except an insurance agent or an\nintermediary or insurance intermediary

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

Section 40(1) of the Insurance Act, 1938, no\nperson shall after the expiry of six months from the\ncommencement of this Act, pay or contract to pay any\nremuneration or reward whether by way of commission or\notherwise for soliciting or procuring insurance business in\nIndia to any person except an insurance agent or an\nintermediary or insurance intermediary

JAMNADAS VIRJI SHARES AND STOCK BROKERS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 4(3)(1), MUMBAI

u/s 10(34) of the Act.\n15.\nThe AO erred in levying interest under section 234A of Rs.\n63,283/- and CIT(A) erred in confirming the same.\n16.\nThe AO erred in levying interest under section 234B of Rs.\n4,14,216/- and under section 234D of Rs. 1,17,087/- and CIT(A)\nerred in confirming the same

DCIT CEN CIR 8(4), MUMBAI vs. SAVITA OIL TECHNOLOGIES LTD, MUMBAI

Appeal is allowed

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.7620/Mum/2016 (नििाारण वर्ा / Assessment Year : 2010-11)

reassessment, the assessee shall be entitled to receive, in addition to the interest payable under sub-section (1), an additional interest on such amount of refund calculated at the rate of three per cent per annum, for the period beginning from the date following the date of expiry of the time allowed under sub-section (5) of 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

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

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

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

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

HATHWAY C-NET P. LTD,MUMBAI vs. TAX RECOVERY (TDS) 1, MUMBAI

The appeals of the assessees are allowed

Bench: Shri Joginder Singh & Shri Ashwani Taneja

u/s 201(1A) also. We hold accordingly.” 24 Thereafter, from paragraph 17.11 the Tribunal dealt with the contentions of the Assessee that the time limit for initiation and completion of the proceedings under Section 201(1) ought to be the period of four years. The cases relied upon have been referred to and in paragraph 17.14 it is held that

HATHWAY CABLE & DATACOM LTD,MUMBAI vs. TRO (TDS) RG 1, MUMBAI

The appeals of the assessees are allowed

Bench: Shri Joginder Singh & Shri Ashwani Taneja

u/s 201(1A) also. We hold accordingly.” 24 Thereafter, from paragraph 17.11 the Tribunal dealt with the contentions of the Assessee that the time limit for initiation and completion of the proceedings under Section 201(1) ought to be the period of four years. The cases relied upon have been referred to and in paragraph 17.14 it is held that

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. ADD/JOINT/DEPUTY/ACIT, NATIONAL E-ASSESSMENT CENTRE, DELHI

37 of the Act is available, as it was incurred exclusively\nonly for the purpose of business.\nGROUND NO.6-Addition/ Disallowance of employee contribution to Labour Welfare\nFund (LWF) Rs. 31, 812/- U/s. 36(1) (να)\n1.\nThe CIT (A) erred in confirming the addition/disallowance made by the CPC at Rs.\n31, 812/- on account of alleged delayed payment of employee