TRANS UNION LLC,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX 4(1)(2), MUMBAI

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

section 154 of the Act and in this regard drew our attention to Circular No. 68 (F.NO. 245/17/71-A&PAC) dated

TRANS UNION LLC,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX 4(1)(2), MUMBAI

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

section 154 of the Act and in this regard drew our attention to Circular No. 68 (F.NO. 245/17/71-A&PAC) dated

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

68 153C. 69 [(1)] 70[Notwithstanding anything contained in [Notwithstanding anything contained in section 139, [Notwithstanding anything contained in section 147, section 148 section 148, section 149, section 151 and and section 153, where the Assessing Officer is satisfied that, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery

DCIT CIR 3(3)(2), MUMBAI vs. TULIP HOTELS P.LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Dcit Cir 3(3)(2) Vs. M/S. Tulip Hotels Pvt.Ltd., R.No.609, 6Th Floor Chandermukhi Building Aayakar Bhavan (Basement), Behind The M.K.Road, Oberoi Nariman Point Mumbai – 400 020 Mumbai – 400 021 Pan/Gir No. Aaact9446Q Appellant) .. Respondent)

section 68 is not applicable, even though the assessee has 31 M/s.Tulip Hotels Pvt.Ltd., complied with by providing source of source. This proves bona fide of the appellant. 3.7. In this regard, we would also like to invite your attention towards IT AT. Delhi Bench decision in the case of Russia Technology Centre Pvt. Ltd. (145 ITD88) / (154

FLEMINGO LINERS PVT LTD.,,MUMBAI vs. ITO, WQARD-15(1)(1), MUMBAI

In the result, the appeal of the assessee is dismissed

section\n154. Thus, the appeal was dismissed by him.\n5.\nBefore us, it is submitted by the ld.Authorised Representative\nthat the assessee filed its return of income declaring a loss of Rs\n27,68,76,055/-.Assessment order u/s 143(3) dated 25/02/2015 was\npassed by accepting the returned loss. In the computation sheet attached\nto the order

TRANS UNION LLC,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX 4(1)(2), MUMBAI

section 154 of the Act\nand in this regard drew our attention to Circular No. 68 (F.NO. 245/17/71-A&PAC)\ndated

TRANS UNION LLC,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX 4(1)(2), MUMBAI

section 154 of the Act\nand in this regard drew our attention to Circular No. 68 (F.NO. 245/17/71-A&PAC)\ndated

KALPNA MUKESH RUIA,MUMBAI vs. DCIT CC 2 (2), MUMBAI

The appeal stands dismissed

section 68 11 Rajesh Ruia Group of cases extensively and referred to the bogus sham transaction and Hon'ble Supreme Court decision in this regard. Thereafter the Assessing Officer referred to Special Investigation wing report on black money. Thereafter he referred to the ITAT Delhi Bench decision in the case of Harsh Win Chadha Vs. DCIT

DY CIT CC 2 (2), MUMBAI vs. SMT. KALPANA MUKESH RUIA, MUMBAI

The appeal stands dismissed

section 68 11 Rajesh Ruia Group of cases extensively and referred to the bogus sham transaction and Hon'ble Supreme Court decision in this regard. Thereafter the Assessing Officer referred to Special Investigation wing report on black money. Thereafter he referred to the ITAT Delhi Bench decision in the case of Harsh Win Chadha Vs. DCIT

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 68 of the Act. It is important to note that the Hon'ble Courts have held that the assessee is not required to prove source of the source as held in the case of Tolaram Daga vs CIT reported in 59 IT 632. The Hon'ble High Court in the case of Addl. CIT vs Hanuman Agarawal reported

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), MUMBAI vs. M/S BHISMA AGRO FOOD PRODUCTS PVT LTD, DELHI

In the result ITA number 2376/M/2023 filed by the learned AO for assessment year 2021 – 22 is dismissed

Bench: Shri Aby T Varkey, Jm & Shri Prashant Maharishi, Am

section 153C does not have document identification number and therefore it is invalid. As satisfaction note is invalid, assessment based on that is also invalid. The learned authorised representative relied upon the decision of the honourable Bombay High Court in case of Ashok commercials enterprises [2023] 154 taxmann.com 144 (Bombay)/[2023] 459 ITR 100 (Bomb. Wherein it has been

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), MUMBAI vs. M/S BHISMA AGRO FOOD PRODUCTS PVT LTD, DELHI

In the result ITA number 2376/M/2023 filed by the learned AO for assessment year 2021 – 22 is dismissed

Bench: Shri Aby T Varkey, Jm & Shri Prashant Maharishi, Am

section 153C does not have document identification number and therefore it is invalid. As satisfaction note is invalid, assessment based on that is also invalid. The learned authorised representative relied upon the decision of the honourable Bombay High Court in case of Ashok commercials enterprises [2023] 154 taxmann.com 144 (Bombay)/[2023] 459 ITR 100 (Bomb. Wherein it has been

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), MUMBAI vs. BHISMA AGRO FOOD PRODUCTS PVT LTD, MUMBAI

In the result ITA number 2376/M/2023 filed by the learned AO for assessment year 2021 – 22 is dismissed

Bench: Shri Aby T Varkey, Jm & Shri Prashant Maharishi, Am

section 153C does not have document identification number and therefore it is invalid. As satisfaction note is invalid, assessment based on that is also invalid. The learned authorised representative relied upon the decision of the honourable Bombay High Court in case of Ashok commercials enterprises [2023] 154 taxmann.com 144 (Bombay)/[2023] 459 ITR 100 (Bomb. Wherein it has been

BHISHMA AGRO FOOD PRODUCTS PRIVATE LIMITED,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 2(2) MUMBAI, MUMBAI

In the result ITA number 2376/M/2023 filed by the learned AO for assessment year 2021 – 22 is dismissed

Bench: Shri Aby T Varkey, Jm & Shri Prashant Maharishi, Am

section 153C does not have document identification number and therefore it is invalid. As satisfaction note is invalid, assessment based on that is also invalid. The learned authorised representative relied upon the decision of the honourable Bombay High Court in case of Ashok commercials enterprises [2023] 154 taxmann.com 144 (Bombay)/[2023] 459 ITR 100 (Bomb. Wherein it has been

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), MUMBAI vs. M/S BHISMA AGRO FOOD PRODUCTS PVT LTD, MUMBAI

In the result ITA number 2376/M/2023 filed by the learned AO for assessment year 2021 – 22 is dismissed

Bench: Shri Aby T Varkey, Jm & Shri Prashant Maharishi, Am

section 153C does not have document identification number and therefore it is invalid. As satisfaction note is invalid, assessment based on that is also invalid. The learned authorised representative relied upon the decision of the honourable Bombay High Court in case of Ashok commercials enterprises [2023] 154 taxmann.com 144 (Bombay)/[2023] 459 ITR 100 (Bomb. Wherein it has been

M/S. VIJAY STEEL CORPORATION PVT. LTD,MUMBAI vs. ACIT 13(3) (2), MUMBAI

Appeal is allowed

Bench: Shri Vikas Awasthy & Shri Amarjit Singhआअसं. 91/मुं/2022("न.व.2013-14) M/S. Vijay Steel Corporation Ltd. 2, Sabhapati Bhavan, 19, Meera, Santacruz (West), Mumbai 400 054 : अपीलाथ"/ Appellant Pan;Aaacv-3517-E बनाम/ Vs. Acit-13(3)(2). Mumbai : ""थ"/ Respondent

68 of the Act on account of unproved unsecured loans. The aforesaid addition along with other additions made were set off against business loss. Subsequent to the assessment order, the provisions of section 115BBE of the Act were amended by Taxation Laws (2nd Amendment) Act (supra). Consequent to the amendment, the Assessing Officer invoked provisions of section 154

DCIT, CIRCLE-14(1)(2), MUMBAI, MUMBAI vs. VEDHAS REALTORS PRIVATE LIMITED, MUMBAI

In the result, the appeal by the Revenue is dismissed

68 of the Act by an amount of Rs.3,30,00,000\nand further, reduced the disallowance of interest payment under section 69C\nof the Act by an amount of Rs.2,75,950. Further, vide suo moto rectification\norder dated 07/01/2019 passed under section 154

SANJIB SUDHIR PRADHAN,MUMBAI vs. INCOME TAX OFFICER, 15(1)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical purposes

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

section 68 of the Act. 26. The learned CIT(A), vide impugned order, dismissed the ground raised by the assessee on this issue, by observing as under:- “6.2 .......... In support of its claimed assesse has submitted P&L account, Balance Sheet, copies of sale bills of Pradhan Enterprises of the assesse from where assesse declared profit of Rs.10