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

unexplained cash credit under Section 68 of the Act. In reply, the assessee In reply, the assessee submitted that submitted that the addition proposed was very huge and therefore proposed was very huge and therefore specifically sought the specifically sought the opportunity to cross opportunity to cross-examine Mr. Lahoti, asserting that the examine Mr. Lahoti, asserting that the proposed

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)

u/s 153C of the Act, issues a notice u/s 153C to file a return of income for reassessment, then he makes an assessment / reassessment of such income u/s 153A of the Act. 65. Now, the entire procedure is the same except under different sections having two separate contingencies. In our opinion, the Legislature has not left any discretion

BENCO FINANCE & INVESTMENT P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri M.Balaganesh () & Shri Ravish Sood () Benco Finance & Investment Dy. Cit, Central Circle-40 Private Limited; 205, Sujata Vs. (Now Dcit, Central Circle -7(2), Mumbai) Room No. 656, 6Th Floor, Chambers, 2Nd Floor, 1/3 Aaykar Bhawan, M.K Road, Abhichan Gandhi Marg, Off. Mumbai – 400 020. Katha Bazar, Masjid Bunder (W), Mumbai – 400 009 (Assessee) (Revenue) Pan No. Aabcb9349R Assessee By : S/Shri Vijay Mehta & Purushottam, A.Rs Revenue By : Ms. Shreekala Pardeshi, D.R Date Of Hearing : 18/06/2021 Date Of Pronouncement : 10/08/2021

money amounting to Rs.13,41,97,470/- received from the Investors under section 68 of the Act on the alleged ground that the Appellant has not provided any explanation regarding nature and source of premium received. The Appellant prays that the addition of Rs.13,41,97,470/- under section 68 of the Act ought to be deleted. WITHOUT PREJUDICE

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

money sales etc. On the basis of the information received, the Assessing Officer reopened the assessment u/s 147 of received, the Assessing Officer reopened the assessment u/s 147 of received, the Assessing Officer reopened the assessment u/s 147 of the Act after record the Act after recording reasons to believe that income escaped ing reasons to believe that income escaped

TIME MEDIA & ENTERTAINMENT LLP (EARLIER TIME MEDIA & ENTERTAINMENT PRIVATE LIMITED),MUMBAI vs. INCOME TAX OFFICER 16(1)(5), MUMBAI

In the result, the appeal of the assessee in ITA no

Bench: Shri Sandeep Gosain & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6534/Mum/2017 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Time Media & Income Tax Officer- Entertainment Llp (Earlier 16(1)(5) Time Media & R.No. 439, 4 Th Floor, V. Entertainment Private Aayakar Bhavan, Ltd.) M.K Marg, 104, Rachna, V.P Road, Mumbai-400020 Vile Parle (W), Mumbai-400056 स्थायी ऱेखा सं./ Pan: Aaact1581C (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Reepal G. Tralshawala Revenue By: Shri. D.G. Pansari (Dr) सुनवाई की तारीख /Date Of Hearing : 28.03.2019 घोषणा की तारीख /Date Of Pronouncement : 18.06.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 6534/Mum/2017, Is Directed Against Appellate Order Dated 31.07.2017, Passed By Learned Commissioner Of Income Tax (Appeals)-4, Mumbai (Hereinafter Called “The Cit(A)”) In Appeal No. Cit(A)-4/It-89/Ito-16(1)(5)/2016-17, For Assessment Year 2010-11, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 30.03.2016 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) R.W.S. 147 Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2010-11. I.T.A. No.6534/Mum/2017

unexplained expenditure I.T.A. No.6534/Mum/2017 5. The Ld. CIT(A) erred in confirming addition to the extent of Rs. 31,986/- as commission paid to the broker for carrying out CCM / obtaining loss without appreciating the fact that the appellant transaction giving rise to loss of Rs.31,98,597/- is genuine transaction and genuine loss and not fictitious and thus

SHANNO MOHAMMED YUSUF WARSI ,MUMBAI vs. INCOME TAX OFFICER-25(1)(3), MUMBAI

In the result, the appeal

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

147 of the Act. 2.1 During reassessment proceedings the Assessing Officer asked During reassessment proceedings the Assessing Officer asked During reassessment proceedings the Assessing Officer asked the assessee to justify sale consideration of ₹2,30,01, the assessee to justify sale consideration of 01,500/-received as genuine. The Assessing on sale of shares of on sale of shares

ASST. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 2(3),, MUMBAI vs. FA CONSTRUCTION , MUMBAI

In the result, all the three appeals of the Revenue are In the result, all the three appeals of the Revenue are In the result, all the three appeals of the Revenue are dismissed

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant ()

147 of the Act. 3.2 During the course of reassessment proceedings, the Assessing During the course of reassessment proceedings, the Assessing During the course of reassessment proceedings, the Assessing Officer called for various details, inter alia, party Officer called for various details, inter alia, party- -wise purchases and expenses, details of salary and wages paid to employees, and expenses, details

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 ()

147 cannot be quashed merely for the reason that during the course of the reassessment proceedings, the assessee has not been course of the reassessment proceedings, the assessee has not been course of the reassessment proceedings, the assessee has not been provided opportunity for cross provided opportunity for cross-examining the persons whose e persons whose statement have been related

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 ()

147 cannot be quashed merely for the reason that during the course of the reassessment proceedings, the assessee has not been course of the reassessment proceedings, the assessee has not been course of the reassessment proceedings, the assessee has not been provided opportunity for cross provided opportunity for cross-examining the persons whose e persons whose statement have been related

SHRI NITIN POPATLAL THAKKAR,MUMBAI vs. THE DCIT CENT.CIR-3(4), MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

DINESHCHANDRA D. CHHAJED,MUMBAI vs. DCIT CC3(4) , MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

SHRI NITIN POPATLAL THAKKAR,MUMBAI vs. THE DY.CITI CENT. CIR -3(4), MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

SMT. HARSH A NITIN THAKKAR,RAIGAD vs. THE DCIT CENT. CIR -3(4) , MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

SHRI YOGESH P.THAKKAR,MUMBAI vs. THE DCIT CC-3(4), MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

NISHA YOGESH THAKKAR,MUMBAI vs. DCIT CC 3(4), MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

SHRI YOGESH P. THAKKAR,PANVEL vs. THE DCIT , CC-3(4) , MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

SMT HARHSA NITIN THAKKAR,MUMBAI vs. THE DY. CITI CENT. CIR -3(4), MUMBAI

In the result , the appeal of the assessee Shri Dineshchandra D

147 & 143(3) respectively of the Income Tax Act, 1961 (hereinafter referred to as Act) dated „Nil‟ by the ld. Dy. Commissioner of Income Tax, Central Circle-3(4), Mumbai (hereinafter referred to as ld. AO). This appeal in ITA No. 1611/Mum/2021 for A.Y.2015-16 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-51, Mumbai

RAJNISH BHARTI HUF,MUMBAI vs. THE INCOME TAX OFFICER 20(3)(1), MUMBAI , LALBAUG, MUMBAI

In the result, both the appeals of the In the result, both the appeals of the assessee are dismissed assessee are dismissed whereas appeals of the Revenue are allowed

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

u/s 148 is not illegal and bad in law. Therefore, notice issued u/s 148 is not illegal and bad in law. Therefore, notice issued u/s 148 is not illegal and bad in law. Therefore, it is very clear that the notice issued u/s 148 is Therefore, it is very clear that the notice issued u/s 148 is Therefore