M/S. INDEX LOGISTICS PVT LTD,MUMBAI vs. ACIT CC 1 (2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

M/S. INDEX LOGISTICS PVT LTD,MUMBAI vs. ACIT CC 1 (2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

MR ISMAIL MUHAMMAD KHAN,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

M/S. INDEX LOGISTICS PVT LTD,MUMBAI vs. ACIT CC 1 (2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

ISMAIL MUHAMMAD KHAN,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

M/S. INDEX LOGISTICS PVT LTD,MUMBAI vs. ACIT CC 1 (2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

M/S. INDEX LOGISTICS PVT LTD,MUMBAI vs. ACIT CC 1 (2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

MR ISMAIL MUHAMMAD KHAN ,MUMBAI vs. ASSISATNT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

ISMAIL MUHAMMAD KHAN,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME, CENTRAL CIRCLE-1 (2),, MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

MR ISMAIL MUHAMMAD KHAN ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), MUMBAI

In the result all the appeals filed by both the assessees are stands allowed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

4 Index Logistics Pvt Ltd & Ismail Muhammed Khan. dismissing the appeal filed by the Appellant and confirming the addition of ₹2,76,85,351 made by the AO under section 68 r.w.s. 115BBE of the Act on account of unexplained cash credits, because the addition has been confirmed based on incorrect assumptions and relying upon the statements of persons

ITO-15(2)(4), MUMBAI vs. M/S PRAVIR POLYMERS PVT LTD., MUMBAI

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2011-12 Income Tax Officer-15(2)(4), M/S Pravir Polymers Pvt. Ltd., Room No. 360, Aayakar Bhavan, M.K. 601/602, Delta, Central Avenue, Road, Marine Lines, Vs. Technology Street, Hiranandani Mumbai-400020. Garden Powai, Mumbai-400076. Pan No. Aaacp 4621 K Appellant Respondent

Section 132(4) of the Act. The Tribunal has committed an error in ignoring the retraction made by the assessee." 6. We have gone through the order passed by the Tribunal and we do not find any infirmity in the said order. Learned advocate for the revenue is not M/s Pravir Polymers Pvt. Ltd. 22 ITA No. 2595/M/2019

DEEPAK KAKUBHAI MEHTA,MUMBAI vs. DCIT, CENTRAL CIRCLE 4(1), MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

132(4) vide his letter addressed to the investigation Unit on 14/10/2017. The charts of the additions made are given below: Para 5.33 for alleged cash loan given in the assessment orders 5.33 In the light of the above discussion, the cash loans given by the assessee to Shri Nilesh Bharani are assessed as undisclosed investment in loans amounting

DEEPAK KAKUBHAI MEHTA,MUMBAI vs. DCIT, CENTRAL CIRCLE 4(1), MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

132(4) vide his letter addressed to the investigation Unit on 14/10/2017. The charts of the additions made are given below: Para 5.33 for alleged cash loan given in the assessment orders 5.33 In the light of the above discussion, the cash loans given by the assessee to Shri Nilesh Bharani are assessed as undisclosed investment in loans amounting

ACIT CENTRAL CIRCLE-2(1), MUMBAI vs. M/S. G NINE MODULAR PVT. LTD., MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

section 132(4) cannot be considered as incriminating material found in the course of considered as incriminating material found in the course of considered as incriminating material found in the course of search search search as as as these these these are are are recorded recorded recorded to to to elicit elicit elicit more more more information/explanation

ACIT CENTRAL CIRCLE-2(1), MUMBAI vs. M/S. G NINE MODULAR PVT. LTD., MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

section 132(4) cannot be considered as incriminating material found in the course of considered as incriminating material found in the course of considered as incriminating material found in the course of search search search as as as these these these are are are recorded recorded recorded to to to elicit elicit elicit more more more information/explanation

ACIT CENTRAL CIRCLE-2(1), MUMBAI vs. M/S. G NINE MODULAR PVT. LTD., MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

section 132(4) cannot be considered as incriminating material found in the course of considered as incriminating material found in the course of considered as incriminating material found in the course of search search search as as as these these these are are are recorded recorded recorded to to to elicit elicit elicit more more more information/explanation

DCIT, CENTRAL CIRCLE- 3(3), MUMBAI, MUMBAI vs. AVAADA VENTURES PVT. LTD , MUMBAI

sections": [ "153A", "132", "132(4)", "68", "69C", "14A", "115JB(2)", "143(3)", "139(1)", "147", "148" ], "issues": "Whether the material

ARVIND KHETARAM PUROHIT ,MUMBAI vs. DCIT, CENTRAL CIRCLE 4(2), MUMBAI

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

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

132 of the Income-tax Act, 1961 conducted on 17.03.2021 in the case of M/s tax Act, 1961 conducted on 17.03.2021 in the case of M/s tax Act, 1961 conducted on 17.03.2021 in the case of M/s Rubberwala Housing and Infrastructure Ltd. (RHIL), certain digital Rubberwala Housing and Infrastructure Ltd. (RHIL), certain digital Rubberwala Housing and Infrastructure Ltd. (RHIL), certain