DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 5(2), MUMBAI, NARIMAN POINT, MUMBAI vs. AGV CONSULTANTS , BORIVALI (E), MUMBAI

In the result, all the appeals filed by the revenue stands dismissed

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

133A of the Income tax Act (henceforth ITA), on 07.12.2020. The Assessee is claiming to be engaged in the business of providing consultancy services. There are three partners of the firm, namely Shri Vincent Albuquerque, Mr. Augustine Francis Pinto & Mrs. Grace Pinto. Shri Vincent Albuquerque was the working partner and other two partners were sleeping partners. Statement

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 ()

section 147 of the Act ignoring the settled position of law that the AO before assuming settled position of law that the AO before assuming settled position of law that the AO before assuming jurisdiction us 147 of the Act is required to make some jurisdiction us 147 of the Act is required to make some jurisdiction

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 ()

section 147 of the Act ignoring the settled position of law that the AO before assuming settled position of law that the AO before assuming settled position of law that the AO before assuming jurisdiction us 147 of the Act is required to make some jurisdiction us 147 of the Act is required to make some jurisdiction

DCIT, CIRCLE-2(1)(1), MUMBAI, MUMBAI vs. M/S KUNDAN JEWELLERS PVT LTD , MUMBAI.

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadaledcit, Circle – 2(1)(1) Vs. M/S. Kundan Jewellers Room No. 561, 5Th Floor Pvt Ltd Aayakar Bhavan, Mk 223, Sm Patil Bldg, Sv Road, Mumbai – 400 020 Road, Andheri (W), Mumbai – 400058. Pan/Gir No. : Aabck5770H Appellant .. Respondent Appellant By : Mr.Nihar Ranjan Samal.Dr Respondent By : Mr.Siddharth Kothari.Ar Date Of Hearing 19.05.2023 Date Of Pronouncement 29 .05.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The National Faceless Appeal Centre (Nfac)/Cit(A), Delhi Passed U/S 143(3) & 250 Of The Act. The Revenue Has Raised The Following Grounds Of Appeal:

5. Shree Sanand Textiles Industries Ltd. V. DCIT vide ITA No. 1166/AHD/2014. It was held that the provisions of section 68 cannot be applied in relation to the sales receipt shown by the assessee in its books of accounts. It is because the sales receipt has already been shown in the books of accounts as income at the time

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

Section 133A of the Act, recorded on oath, during the survey proceedings, ignoring the ratio laid down by the Apex Court in the cases of CIT v. S. Khader Khan Son (2012) 254 CTR 228? 23. This question was answered by the Hon’ble High Court by observing as under:- “4. We shall now consider the questions as proposed

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

Section 133A of the Act, recorded on oath, during the survey proceedings, ignoring the ratio laid down by the Apex Court in the cases of CIT v. S. Khader Khan Son (2012) 254 CTR 228? 23. This question was answered by the Hon’ble High Court by observing as under:- “4. We shall now consider the questions as proposed

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

Section 133A of the Act, recorded on oath, during the survey proceedings, ignoring the ratio laid down by the Apex Court in the cases of CIT v. S. Khader Khan Son (2012) 254 CTR 228? 23. This question was answered by the Hon’ble High Court by observing as under:- “4. We shall now consider the questions as proposed

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

133A of the Act were also carried out at the branch offices of the assessee at Ahmedabad, Chennai, and Hyderabad. In response to the notice issued under section 153A of the Act, the assessee filed its return of income on 02/10/2018 declaring a loss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

133A of the Act were also carried out at the branch offices of the assessee at Ahmedabad, Chennai, and Hyderabad. In response to the notice issued under section 153A of the Act, the assessee filed its return of income on 02/10/2018 declaring a loss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

133A of the Act were also carried out at the branch offices of the assessee at Ahmedabad, Chennai, and Hyderabad. In response to the notice issued under section 153A of the Act, the assessee filed its return of income on 02/10/2018 declaring a loss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-5(2), MUMBAI, NARIMAN POINT, MUMBAI vs. AGV CONSULTANTS , BORIVALI (E), MUMBAI

In the result, all the appeals filed by the revenue\nstands dismissed

5(2) Vs. AGV Consultants,\nRoom No. 1908, Air India A-101, Ashoka Tower,\nBldg, Nariman Point, Kullupwali Road,\nMumbai – 400021 Borivali (E), Mumbai –\n400066.\nPAN/GIR No. AAZFA0780A\n(Applicant)\n(Respondent)\n\nAssessee by Shri Neelkanth Khandelwal\nRevenue by DR K.R. Subhash, CIT-Ld.DR &\nShri Ram Krishn Kedia, Sr. AR\n\nDate of Hearing 08.04.2025\nDate of Pronouncement 27.05.2025\nआदेश

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -5(2), MUMBAI, NARIMAN POINT, MUMBAI vs. AGV CONSULTANTS , BORIVALI (E), MUMBAI

In the result, all the appeals filed by the revenue\nstands dismissed

5(2) Vs. AGV Consultants,\nRoom No. 1908, Air India\nBldg, Nariman Point,\nMumbai – 400021\nA-101, Ashoka Tower,\nKullupwali Road,\nBorivali (E), Mumbai –\n400066.\n\nPAN/GIR No. AAZFA0780A\n(Applicant)\n(Respondent)\n\nAssessee by\nShri Neelkanth Khandelwal\nRevenue by\nDR K.R. Subhash, CIT-Ld.DR &\nShri Ram Krishn Kedia, Sr. AR\n\nDate of Hearing\n08.04.2025\nDate of Pronouncement\n27.05.2025

SHRI RENUKAMATA MULTI-STATE CO-OPERATIVE URBAN SOCIETY LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(4), MUMBAI

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

133A of the Act were also carried out at the branch offices of the assessee at Ahmedabad, Chennai, and Hyderabad. In response to the notice issued under section 153A of the Act, the assessee filed its return of income on 02/10/2018 declaring a loss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

133A of the Act were also carried out at the branch offices of the assessee at Ahmedabad, Chennai, and Hyderabad. In response to the notice issued under section 153A of the Act, the assessee filed its return of income on 02/10/2018 declaring a loss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well

DEVANG BHUPENDRA SHAH,MUMBAI vs. INCOME TAX OFFICER 32(1)(4), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankardevang Bhupendra Shah, V/S. Income Tax Officer, Ward – B/9, Neminath Apt., बनाम 32(1)(4), Kautilya Bhavan, Shimpoli Road, Borivali Bandra Kurla Complex, West, Mumbai – 400 092, Bandra (East), Mumbai– Maharashtra 400051, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadps1211L Appellant/अपीलार्थी .. Respondent/प्रतिवादी

68 of the Act as unexplained credit treating the sale of shares even though evidences submitted by the assessee were are not controverted by either the AO or the ld.CIT(A). Further, no evidence collected from third parties was confronted to the him nor opportunity of cross-examination of persons, on whose statements the revenue relied were provided

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

5. In the grounds raised in application filed under Rule 27 of the In the grounds raised in application filed under Rule 27 of the In the grounds raised in application filed under Rule 27 of the ITAT Rules, the assessee has challenged the validity of the ITAT Rules, the assessee has challenged the validity of the ITAT Rules

ITO 19(2)(3), MUMBAI vs. MEENAKSHI N SHAH, MUMBAI

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2007-08 Dcit 5(2)(2) Meridian Chem Bond Mumbai Purchase Ltd., बनाम/ 903 Raheja Centre, Free Vs. Press Journal Marg, Nariman Point, Mumbai 400 021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. Aaacr1789G

5. We have heard both the parties, perused the material available on record and gone through the orders of authorities below. The AO made addition towards unsecured loans received from Josh Trading Company Pvt Ltd and Viraj Mercantile Pvt Ltd on the basis of information received from Investigation Wing which revealed that the assessee is the beneficiary of bogus accommodation

NISA INDUSTRIAL SERVICES PVT. LTD.,MUMBAI vs. ACIT- WD -10(3)(1), MUMBAI

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am

133A. AO discussed the various aspect of creation of shell companies and how it is created and run by the operators and finally came to the conclusion that mere filing of Balance Sheet and Profit and Loss account cannot be accepted as proof of creditworthiness. He came to the conclusion with the observation that it is accepted practice that