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

44,52,52,130/- under\nnormal provisions of the Act and Book Profit under Section 115JB\nof the Act were determined at INR.1,70,14,98,778/-. Thereafter,\nreassessment proceedings were again initiated under Section\n147 of the Act by issuance of notice, dated 31/03/2017, under\nSection 148 of the Act. In response the Assessee, vide letter\ndated 17/04/2017, filed

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

44,52,52,130/- under\nnormal provisions of the Act and Book Profit under Section 115JB\nof the Act were determined at INR.1,70,14,98,778/-. Thereafter,\nreassessment proceedings were again initiated under Section\n147 of the Act by issuance of notice, dated 31/03/2017, under\nSection 148 of the Act. In response the Assessee, vide letter\ndated 17/04/2017, filed

THE TATA POWER COMPANY LTD,MUMBAI vs. PR CIT 2, MUMBAI

In the result, appeal is allowed, as indicated above

Bench: Shri Saktijit Dey () & Shri Rajesh Kumar ()

44,00,614/- under section 115JB of the Act. The assessing officer passed a draft assessment order in case of the assessee under section 144C(1) of the Act which was finalized in pursuance to the directions learned Dispute Resolution Panel (DRP), vide assessment order passed under section 143(3) r.w.s. 144C

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)

44,52,52,130/- under normal provisions of the Act and Book Profit under Section 115JB of the Act were determined at INR.1,70,14,98,778/-. Thereafter, reassessment proceedings were again initiated under Section 147 of the Act by issuance of notice, dated 31/03/2017, under Section 148 of the Act. In response the Assessee, vide letter dated 17/04/2017, filed

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)

44,52,52,130/- under normal provisions of the Act and Book Profit under Section 115JB of the Act were determined at INR.1,70,14,98,778/-. Thereafter, reassessment proceedings were again initiated under Section 147 of the Act by issuance of notice, dated 31/03/2017, under Section 148 of the Act. In response the Assessee, vide letter dated 17/04/2017, filed

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)

44,52,52,130/- under normal provisions of the Act and Book Profit under Section 115JB of the Act were determined at INR.1,70,14,98,778/-. Thereafter, reassessment proceedings were again initiated under Section 147 of the Act by issuance of notice, dated 31/03/2017, under Section 148 of the Act. In response the Assessee, vide letter dated 17/04/2017, filed

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)

44,52,52,130/- under normal provisions of the Act and Book Profit under Section 115JB of the Act were determined at INR.1,70,14,98,778/-. Thereafter, reassessment proceedings were again initiated under Section 147 of the Act by issuance of notice, dated 31/03/2017, under Section 148 of the Act. In response the Assessee, vide letter dated 17/04/2017, filed

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

44,52,52,130/- under\nnormal provisions of the Act and Book Profit under Section 115JB\nof the Act were determined at INR.1,70,14,98,778/-. Thereafter,\nreassessment proceedings were again initiated under Section\n147 of the Act by issuance of notice, dated 31/03/2017, under\nSection 148 of the Act. In response the Assessee, vide letter\ndated 17/04/2017, filed

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

44,52,52,130/- under \nnormal provisions of the Act and Book Profit under Section 115JB \nof the Act were determined at INR.1,70,14,98,778/-. Thereafter, \nreassessment proceedings were again initiated under Section \n147 of the Act by issuance of notice, dated 31/03/2017, under \nSection 148 of the Act. In response the Assessee, vide letter \ndated 17/04/2017, filed

SAI PRERNA CO-OP. CREDIT SOCIETY LTD,MUMBAI vs. ITO WD 17(3) (2) , MUMBAI

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

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2012-13 Sai Prerana Co-Op Society Ltd., Ito-7(3)(2), 317, Puran Aasha Bldg. Gr. Fl. Room No. 126, 1St Floor, Narashi Natha Street, Katha Vs. Kautilya Bhavan, C-41 To C- Bazar Musjid Bunder (W), 43 Block, Bandra Kurla Mumbai-400 009. Complex, Bandra (East) Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent Assessee By : Ms. Ruby Srivastava & Mr. Bharat Kumar, Ca Revenue By : Mr. Milind S. Chavan, Dr Date Of Hearing : 27/04/2023 : Date Of Pronouncement 28/04/2023 Order

u/s 80P of the Act. The Act. The reasons to believe that income escaped to believe that income escaped assessment ,recorded by the Assessing Officer as reproduced on recorded by the Assessing Officer as reproduced on recorded by the Assessing Officer as reproduced on page 1 of the assessment ord page 1 of the assessment order, is extracted as under

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)

147 of the Act but should have been assessed u/s 153A of the Act by taking recourse to the provisions of the section 153C of the Act as the same emanates from a search u/s 132 of the Act on some share brokers. The authorities assumed jurisdiction as above under the wrong provisions of the Act ignoring the specific mandatory

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

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE- 41(1)(1), MUMBAI, KAUTILYA BHAWAN, BKC vs. JAJ INTERNATIONAL, MUMBAI

In the result, the grounds relating to merit the file of the Ld

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

44,60,000 for AY 2015-16 in respect of the acquisition of immovable 16 in respect of the acquisition of immovable properties from the said real properties from the said real-estate developer. Secondly, the informatio Secondly, the information was received directly from the officer of the n was received directly from the officer of the Investigation Wing

ASSISTANT COMMISSIONER OF INCOME TAX, KAUTILYA BHAWAN vs. JAJ INTERNATIONAL, MUMBAI

In the result, the grounds relating to merit the file of the Ld

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

44,60,000 for AY 2015-16 in respect of the acquisition of immovable 16 in respect of the acquisition of immovable properties from the said real properties from the said real-estate developer. Secondly, the informatio Secondly, the information was received directly from the officer of the n was received directly from the officer of the Investigation Wing

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

44,52,52,130/- under \nnormal provisions of the Act and Book Profit under Section 115JB \nof the Act were determined at INR.1,70,14,98,778/-. Thereafter, \nreassessment proceedings were again initiated under Section \n147 of the Act by issuance of notice, dated 31/03/2017, under \nSection 148 of the Act. In response the Assessee, vide letter \ndated 17/04/2017, filed

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

44,52,52,130/- under\nnormal provisions of the Act and Book Profit under Section 115JB\nof the Act were determined at INR.1,70,14,98,778/-. Thereafter,\nreassessment proceedings were again initiated under Section\n147 of the Act by issuance of notice, dated 31/03/2017, under\nSection 148 of the Act. In response the Assessee, vide letter\ndated 17/04/2017, filed

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

44,700/-. However, the reassessment order passed under Section 143(3) read with Section 147 on 18.12.2019 makes no reference whatsoever to the alleged cash receipt. It is clear that the Ld. AO, having received information from the Investigation Wing, Thane, thoroughly examined the matter and concluded that no such cash receipt existed in the appellant’s case. Accordingly

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

44,52,52,130/- under\nnormal provisions of the Act and Book Profit under Section 115JB\nof the Act were determined at INR.1,70,14,98,778/-. Thereafter,\nreassessment proceedings were again initiated under Section\n147 of the Act by issuance of notice, dated 31/03/2017, under\nSection 148 of the Act. In response the Assessee, vide letter\ndated 17/04/2017, filed