INCOME TAX OFFICER-12(3)(1), MUMBAI, MUMBAI vs. MANJU DIAMONDS PVT. LTD., MUMBAI

In the result, the appeal of the Revenue is allowed for statistical purposes whereas the application under Rule 27 of statistical purposes whereas the application under Rule 27

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2017-18 Ito-12(3)(1), Manju Diamonds Pvt. Ltd., R.No. 145, 1St Floor, Aayakar 57/59, 1St Floor, Nagdevi Street, Vs. Bhavan, M.K. Road, Maszid Bunder, Mumbai-400020. Mumbai-400 003. Pan No. Aaecm 6609 G Appellant Respondent

reassess the income of the other person in accordance with the provisions of section 153A section 153A, if, that Assessing Officer is satisfied that is satisfied that the books of account or documents or assets seized or requisitioned the books of account or documents or assets seized or requisitioned the books of account or documents or assets seized or requisitioned

DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

survey proceedings u/s 133A of the Act from Shri Kirit kumar D Suba and Shri N K Sodhani who stated that the donations were returned back to the Group in cash, which though were subsequently retracted by them. The Assessing Officer has completed the assessment by treating the donations as bogus denying exemption u/s

DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

survey proceedings u/s 133A of the Act from Shri Kirit kumar D Suba and Shri N K Sodhani who stated that the donations were returned back to the Group in cash, which though were subsequently retracted by them. The Assessing Officer has completed the assessment by treating the donations as bogus denying exemption u/s

DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

survey proceedings u/s 133A of the Act from Shri Kirit kumar D Suba and Shri N K Sodhani who stated that the donations were returned back to the Group in cash, which though were subsequently retracted by them. The Assessing Officer has completed the assessment by treating the donations as bogus denying exemption u/s

FOREVER FLOURISHING FIN & INV. PVT LTD,MUMBAI vs. DCIT-CC-3(4), MUMBAI, MUMBAI

In the result, appeal for the assessment year 2012

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

133A of the Act on 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that assessee issued shares at huge premium to various issued shares at huge premium to various share applicant issued shares at huge premium to various companies. The Investigation Wing

FOREVER FLOURISHING FIN. & INV. PVT. LTD. ,MUMBAI vs. DCIT (CC)-3(4), MUMBAI, MUMBAI

In the result, appeal for the assessment year 2012

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

133A of the Act on 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that assessee issued shares at huge premium to various issued shares at huge premium to various share applicant issued shares at huge premium to various companies. The Investigation Wing

M/S K R CONSTRUCTION ,MUMBAI vs. PR CIT CENTRAL-3, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Saktijit Dey & Shri G. Manjunathak.R.Construction Vs. Principal Commissioner Of Basement, Hinal Residency Income Tax-Central-3 19Th Floor Datta Mandir Road Dahanukar Wadi Air India Building Kandivali(W) Nariman Point Mumbai-400 067 Mumbai-400 021

133A of the Act, the assessment has been reopened u/s 147 of the I.T.Act, 1961 by issuing notice u/s 148 of the Act, dated 02/02/2018. In response to notice u/s 148 of the Act, the assessee has filed return of income on 09/02/2018, declaring total income at Rs.9,82,62,750/-. The assessee had also requested

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)

147 of the Act based on third party information collected during the survey ITA 3813/M/12, 821/M/14, 10 ITA 3812/M/12 & 3821/M/12 conducted at third party premises. The assessee company relied upon the following case laws in support of its claim:- i) IPCA Laqboratories Limited v. Jagdanand Meena DCIT, 251 ITR 416 (Bom). ii) Nihilent Technologies Private Ltd. v. DCIT (Writ Petition

SWASTIK REALTORS,MUMBAI vs. A.C.I.T.15(3), MUMBAI

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.800/Mum/2012 & 6314/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08 & 2008-09) Swastik Realtors The Assistant बनाम/ 312, Swastik Disha Commissioner Of Income V. Corporate Park , Kohinoor Tax – 15(3), Textile Printing Compound Matru Mandir I T Office Opp. Shreyas Cinema, Lbs Nana Chowk Marg, Ghatkopar(W) Grant Road Mumbai-400 086 Mumbai. "थायी लेखा सं./Pan : Abafs2576A (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

surveyed on 07/07/2008 i.e. prior to start of repayment of loan to Moxdiam in September 2008 and secondly as per the assessment order passed in the case of the assessee by the AO u/s 143(3) of the Act dated 26.11.2009, the first notice u/s 143(2) of the Act was issued to the assessee on 06.08.2008 commencing

SWASTIK REALTORS,MUMBAI vs. ASST CIT 15(3), MUMBAI

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.800/Mum/2012 & 6314/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08 & 2008-09) Swastik Realtors The Assistant बनाम/ 312, Swastik Disha Commissioner Of Income V. Corporate Park , Kohinoor Tax – 15(3), Textile Printing Compound Matru Mandir I T Office Opp. Shreyas Cinema, Lbs Nana Chowk Marg, Ghatkopar(W) Grant Road Mumbai-400 086 Mumbai. "थायी लेखा सं./Pan : Abafs2576A (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

surveyed on 07/07/2008 i.e. prior to start of repayment of loan to Moxdiam in September 2008 and secondly as per the assessment order passed in the case of the assessee by the AO u/s 143(3) of the Act dated 26.11.2009, the first notice u/s 143(2) of the Act was issued to the assessee on 06.08.2008 commencing

D G LAND DEVELOPERS PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -4(4), MUMBAI, MUMBAI

In the result, the appeals of the assessee for assessment year

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

133A of the Act was carried out on 17.12.2016 at business premises of assessee. In the carried out on 17.12.2016 at business premises of assessee. In the carried out on 17.12.2016 at business premises of assessee. In the survey proceedings various documents including diaries and data survey proceedings various documents including diaries and data survey proceedings various documents including diaries

D G LAND DEVELOPERS PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -4(4), MUMBAI, MUMBAI

In the result, the appeals of the assessee for assessment year

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

133A of the Act was carried out on 17.12.2016 at business premises of assessee. In the carried out on 17.12.2016 at business premises of assessee. In the carried out on 17.12.2016 at business premises of assessee. In the survey proceedings various documents including diaries and data survey proceedings various documents including diaries and data survey proceedings various documents including diaries

D G LAND DEVELOPERS PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -4(4), MUMBAI, MUMBAI

In the result, the appeals of the assessee for assessment year

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

133A of the Act was carried out on 17.12.2016 at business premises of assessee. In the carried out on 17.12.2016 at business premises of assessee. In the carried out on 17.12.2016 at business premises of assessee. In the survey proceedings various documents including diaries and data survey proceedings various documents including diaries and data survey proceedings various documents including diaries

BALAJI BUILLION & COMMODITIES (INDIA) PVT. LTD.,MUMBAI vs. DCIT - CC- 7(1), MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Years: 2009-10 M/S Balaji Bullion & Dcit Central Circle-7(1), Commodities (India) Pvt. Ltd., Mumbai. 118/120, 3Rd Floor, Ashoka Vs. House Zaveri Baazar, Mumbai-400 002. Pan No. Aadcb 0236 F Appellant Respondent : Mr. N.M. Porwal Assessee By Revenue By : Mr. S. Srinivasu, Cit-Dr : 27/03/2024 Date Of Hearing Date Of Pronouncement : 03/04/2024

survey action u/s. 133A was conducted on Shri Anil Kumar Jain and Shri Pravin Kumar Jain, who were engaged in high value transaction and Shri Pravin Kumar Jain, who were engaged in high value transaction and Shri Pravin Kumar Jain, who were engaged in high value transactions credited through RTGS/Clearing/Cash/Transfer from various accounts, credited through RTGS/Clearing/Cash/Transfer from various accounts

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 ()

Survey action u/s 133A of the Income Tax Act, 1961 (hereafter, referred as Act) was carried out on (hereafter, referred as Act) was carried out on 27.01.2015 at the 27.01.2015 at the registered / administrative offices of the above institute and it is registered / administrative offices of the above institute and it is registered / administrative offices of the above institute

LEKHRAJ JASRAJ JAIN ,MUMBAI vs. DCIT 19(1), MUMBAI

In the result, the appeal filed by the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2014-15

133A of the I.T. Act on vari operators who were indulging in trading in shares of penny stock operators who were indulging in trading in shares of penny stock operators who were indulging in trading in shares of penny stock companies. It was found during the search and survey that the operator companies. It was found during the search

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) ..

133A and the AO accepted the revised return but imposed penalty under s. 271 (1) (c) on the basis that said income had been suppressed by the assessee. It was held that imposition of penalty was justified since revised return had been filed under compulsion arising from detection during survey. In Smt. B. Indira Rani

PURNA PURSHOTTAM EXPORTS ,MUMBAI vs. INCOME TAX OFFICER 32(2)(5), MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2007-08 Purna Pushottam Exports, Ito-32(3)(5), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent Assessment Year: 2018-19 Purna Pushottam Exports, Acit Central Circle, 2(2), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent

147 of the Act, the Assessing Officer disallowed the entire , the Assessing Officer disallowed the entire , the Assessing Officer disallowed the entire purchases of Rs.1,57, 57,77,971/- holding the same to be unexplained holding the same to be unexplained expenditure u/s 69C of the Act. On further appeal, the Ld. CIT(A) expenditure u/s