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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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

68 taxmann.com 368(SC) is not applicable to the facts of the present case. 41 Index Logistics Pvt Ltd & Ismail Muhammed Khan. Further Hon’ble Supreme Court decision in VLS Finance Ltd (Supra) has also been distinguished in Principal Commissioner of Income-tax (Central) vs. Hitesh Ashok Vaswani [2023] 156 taxmann.com 200 (Gujarat)/[2023] 459 ITR 610 (Gujarat) wherein

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\nassessees are stands allowed

68\ntaxmann.com 368(SC) is not applicable to the facts of the\npresent case.\n\nFurther Hon'ble Supreme Court decision in VLS\nFinance Ltd (Supra) has also been distinguished in\nPrincipal Commissioner of Income-tax (Central) vs.\nAshok Vaswani [2023] 156 taxmann.com 200\n(Gujarat)\[/2023] 459 ITR 610 (Gujarat) wherein the\ndistinction made by Delhi High Court

IDHASOFT LTD.,MUMBAI vs. DCIT - 15(2)(1), MUMBAI

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2007-08 M/S Idhasoft Ltd. Dcit-15(2)(1), 3, Narayan Building, Room No.357, 3Rd Floor बनाम/ 23 L. N. Road, Dadar East, Aayakar Bhavan, Vs. Mumbai-400014 M. K. Road, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aabci6090G Assessment Year: 2007-08 Dcit-15(2)(1), M/S Idhasoft Ltd. Room No.357, 3Rd Floor 3, Narayan Building, बनाम/ Aayakar Bhavan, 23 L. N. Road, Dadar East, Vs. M. K. Road, Mumbai-400014 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aabci6090G

3.—For the purpose of assessment or reassessment under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings 9 5139 & 5338/Mum/2016 Idhasoft Ltd. under this section, notwithstanding that the reasons for such issue

GRASIM INDUSTRIES LTD ( CORPORATE FINANCE DIVISION),MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

Bench: the CIT(A). The CIT(A) partly allowed the appeal preferred by the Assessee vide order, dated 18/05/2009. 4. Not being satisfied with the relief granted by the Id. CIT(A), the Assessee has preferred appeal before this Tribunal. The Revenue has also filed cross-appeal challenging the relief granted by the Id. CIT(A).

156 and the provisions of this Act shall apply accordingly." A bare look at the provisions of sub-section (1) reveals that as soon as any refund becomes due under any provisions of the Act, the assessee becomes entitled to receive the interest in respect of such refund calculated in the manner provided in clauses

ACIT 6(3), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

156 and\nthe provisions of this Act shall apply accordingly.\"\nA bare look at the provisions of sub-section (1) reveals that as\nsoon as any refund becomes due under any provisions of the\nAct, the assessee becomes entitled to receive the interest in\nrespect of such refund calculated in the manner provided in\nclauses

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

Bench: SHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(2)(2), MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

THE NEW INDIA ASSURANCE CO LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(2)(2), MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

Bench: SHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

PRITI NILESH JAIN DAGA ,MUMBAI vs. INCOME TAX OFFICER 19(2)(4), MUMBAI

In the result the appeal filed by the assessee stands allowed and appeal filed by the revenue stands dismissed

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

3] [In favour of assessee] 28. Further the Hon'ble jurisdictional high court in case of Principal Commissioner of Income-tax v/s. Indravadan Jain, HUF reported in [2023] 156 taxmann.com 605 (Bombay) held as under. While allowing the appeal filed by respondent, the Commissioner (Appeals) deleted the addition made under section 68