ACIT CIRCLE-3(1)(2), MUMBAI vs. M/S CHEMICON ENGINEERING CONSULTANT PVT LTD., MUMBAI

In the result, the appeal of the Revenue stands dismissed and the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.7907/Mum/2019 (निर्धारण वर्ा / Assessment Year:2013-14) Chemicon Engineering बिधम/ Acit, Circle 3(1)(2) Consultant Pvt. Ltd. Room No.607, Aayakar Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Sakhar Bhawan, Nariman Road, Mumbai-400020. Point, Mumbai-400021. आयकर अपील सं/ I.T.A. No. 833/Mum/2020 (निर्धारण वर्ा / Assessment Year:2013-14) Acit, Circle 3(1)(2) बिधम/ Chemicon Engineering Room No.607, Aayakar Consultant Pvt. Ltd. Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Road, Mumbai-400020. Sakhar Bhawan, Nariman Point, Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacc2686H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Anuj Kisnadwala Revenue By: Shri H. N. Singh (Dr) सुनवाई की तारीख / Date Of Hearing: 11/05/2022 घोषणा की तारीख /Date Of Pronouncement: 17/06/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Assessee & Revenue Respectively Against The Order Of The Ld. Cit(A)-08, Mumbai Dated 29.11.2019 For The A.Y.2013-14. 2. The Grounds Raised By The Both The Parties Are As Follows: Assessee Grounds: - 1. For That On The Facts & Circumstances Of The Case The Orders Passed By The Assessing Officer U/S 143(3) Of The Act, 1961 (The “Act”) & A.Ys.2013-14 Chemicon Engineering That By The Cit(A) U/S 250 Of The Act So Far It Relates To In Confirming Of The Additions To The Extent Of A) Rs. 6,22,05,000/- Received From Certain Companies Out Of Total Rs. 13,13,50,000/- In Respect Of Shares Allotted Against Share Application Money;

68 of the Act was the commission report obtained u/s 131(1)(d) of the Act dated 22-03-2016 wherein the DDIT had stated that none of these companies were traceable at their given addresses and that all the sixteen (16) shareholders belonged to entry operators. At the time of hearing, the Ld. AR of the assessee painstakingly took

CHEMICON ENGINEERING CONSULTANT PVT LTD.,MUMBAI vs. ASST CIT CIRCLE- 3 (1)(2), MUMBAI

In the result, the appeal of the Revenue stands dismissed and the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.7907/Mum/2019 (निर्धारण वर्ा / Assessment Year:2013-14) Chemicon Engineering बिधम/ Acit, Circle 3(1)(2) Consultant Pvt. Ltd. Room No.607, Aayakar Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Sakhar Bhawan, Nariman Road, Mumbai-400020. Point, Mumbai-400021. आयकर अपील सं/ I.T.A. No. 833/Mum/2020 (निर्धारण वर्ा / Assessment Year:2013-14) Acit, Circle 3(1)(2) बिधम/ Chemicon Engineering Room No.607, Aayakar Consultant Pvt. Ltd. Vs. 21 & 22, 2Nd Floor, 230, Bhawan, Maharshi Karve Road, Mumbai-400020. Sakhar Bhawan, Nariman Point, Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacc2686H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Anuj Kisnadwala Revenue By: Shri H. N. Singh (Dr) सुनवाई की तारीख / Date Of Hearing: 11/05/2022 घोषणा की तारीख /Date Of Pronouncement: 17/06/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Assessee & Revenue Respectively Against The Order Of The Ld. Cit(A)-08, Mumbai Dated 29.11.2019 For The A.Y.2013-14. 2. The Grounds Raised By The Both The Parties Are As Follows: Assessee Grounds: - 1. For That On The Facts & Circumstances Of The Case The Orders Passed By The Assessing Officer U/S 143(3) Of The Act, 1961 (The “Act”) & A.Ys.2013-14 Chemicon Engineering That By The Cit(A) U/S 250 Of The Act So Far It Relates To In Confirming Of The Additions To The Extent Of A) Rs. 6,22,05,000/- Received From Certain Companies Out Of Total Rs. 13,13,50,000/- In Respect Of Shares Allotted Against Share Application Money;

68 of the Act was the commission report obtained u/s 131(1)(d) of the Act dated 22-03-2016 wherein the DDIT had stated that none of these companies were traceable at their given addresses and that all the sixteen (16) shareholders belonged to entry operators. At the time of hearing, the Ld. AR of the assessee painstakingly took

DCIT- CIRCLE- 1, THANE vs. DARSHAN ENTERPRISES , THANE

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

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner Of Income Tax M/S Darshan Enterprises Circle-1,6Th Floor, Ashar It Park, 2Nd Floor, Rosa Vista, Vs. B Wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./Pan/Gir No. : Aadfd8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Shashi Tulsian Revenue By: Ms. Mahita Nair, Sr Ar सुनवाईकीतारीख / Date Of Hearing: 26/10/2022 घोषणाकीतारीख /Date Of Pronouncement: 13/01/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Action Of The Ld.Cit(A)-Nashik Dated 5-11-2018 For Ay 2010-11. [One I.E. Ita 462 Is Against The Quantum Deleted By Ld.Cit(A) & Ita 463 Is Against The Penalty U/S 271(1)(C) Of The Income Tax Act, 1961(Hereinafter “The Act”) Deleted By Ld.Cit(A)]. 2. First Of All We Will Take Up The Quantum Appeal Preferred By The Revenue Wherein The Revenue Challenges The Action Of The Ld. Cit(A) To Have Deleted The Addition Made By The Assessing Officer (Hereinafter Referred To As Ao) Under Section 68 Of The Act. 3. Brief Facts Of The Case Are That The Assessee Partnership Firm Had Filed Return Of Income On 22.09.2010 Declaring Income Of Rs. Rs. 1,47,73,191/-. Later The Case For The Relevant Assessment Year Was Selected For Scrutiny & The Ao Noted That

section 68 of the Act, the AO without even pointing out any infirmity in the documents 14 ITA. 462& 463/MUM/2019 AY 2010-11 M/s Darshan Enterprises filed by the assesse regarding the lenders who were regular income tax assessees, the AO has made high pitched assessment by just giving 24 hours notice to produce all the 127 parties

DCIT- CIRCLE- 1 , THANE vs. DARSHAN ENTERPRISES, THANE

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

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकरअपीलसं/ I.T.A. No.462 /Mum/2019 & I.T.A.No.463/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2010-11) बिधम/ Dy. Commissioner Of Income Tax M/S Darshan Enterprises Circle-1,6Th Floor, Ashar It Park, 2Nd Floor, Rosa Vista, Vs. B Wing Wagle Industrial Estate Ghodbunder Road, Thane- 400604 Opp. Suraj Water Park, Thane(West) 400615 स्थधयीलेखधसं./जीआइआरसं./Pan/Gir No. : Aadfd8612N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Shashi Tulsian Revenue By: Ms. Mahita Nair, Sr Ar सुनवाईकीतारीख / Date Of Hearing: 26/10/2022 घोषणाकीतारीख /Date Of Pronouncement: 13/01/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Action Of The Ld.Cit(A)-Nashik Dated 5-11-2018 For Ay 2010-11. [One I.E. Ita 462 Is Against The Quantum Deleted By Ld.Cit(A) & Ita 463 Is Against The Penalty U/S 271(1)(C) Of The Income Tax Act, 1961(Hereinafter “The Act”) Deleted By Ld.Cit(A)]. 2. First Of All We Will Take Up The Quantum Appeal Preferred By The Revenue Wherein The Revenue Challenges The Action Of The Ld. Cit(A) To Have Deleted The Addition Made By The Assessing Officer (Hereinafter Referred To As Ao) Under Section 68 Of The Act. 3. Brief Facts Of The Case Are That The Assessee Partnership Firm Had Filed Return Of Income On 22.09.2010 Declaring Income Of Rs. Rs. 1,47,73,191/-. Later The Case For The Relevant Assessment Year Was Selected For Scrutiny & The Ao Noted That

section 68 of the Act, the AO without even pointing out any infirmity in the documents 14 ITA. 462& 463/MUM/2019 AY 2010-11 M/s Darshan Enterprises filed by the assesse regarding the lenders who were regular income tax assessees, the AO has made high pitched assessment by just giving 24 hours notice to produce all the 127 parties

INCOME TAX OFFICER 13(1)(1) MUMBAI, MUMBAI vs. NIRNAY COMMODITIES AND DERIVATIVES PVT LTD, MUMBAI

In the result all the appeals filed by the assessing officer are allowed\nfor statistical purposes

section 68 of the act and further the commission of\nRs. 168,231/- was not added to the total

DY CIT 15(1)(2), MUMBAI vs. M/S LEENA POOWER TECH ENGINEERS P LTD., NAVI MUMBAI

In the result, the appeal is allowed

Bench: Us Is A Private Limited Company Stated To Be Engaged In The Business As 'Investment Company' In Column 10, Page 1, Of The Impugned Assessment Order. Its Assessment Under Section 143(3)

section 147, on receipt of the information subsequently. The subsequent information on the basis of which the ITO acquired reasons to believe that income chargeable to tax had escaped assessment on account of the omission of the assessee to make a full and true disclosure of the primary facts was relevant, reliable and specific

RAJDHANI TEXTILES PRIVATE LIMITED ,MUMBAI vs. ACIT, CIRCLE 5(1)(2), MUMBAI

In the result, both the appeals of the assessee are allowed

section 44AB, and that he has been assessed to income tax for several decades. The assessee also emphasized that no adverse evidence, no statement, and no material suggesting accommodation entries or introduction of unaccounted money had been brought on record. 7. The assessee’s stand before the Assessing Officer was that once the identity of the creditor, the genuineness

RAJDHANI TEXTILES PRIVATE LIMITED (SINCE DISHA INFIN CONSULTANTS PVT LTD) ,MUMBAI vs. ASST.CIT CIRCLE 5(1)(2), MUMBAI

In the result, both the appeals of the assessee are allowed

section 44AB, and that he has been assessed to income tax for several decades. The assessee also emphasized that no adverse evidence, no statement, and no material suggesting accommodation entries or introduction of unaccounted money had been brought on record. 7. The assessee’s stand before the Assessing Officer was that once the identity of the creditor, the genuineness

SURENDRA GARG HUF ,MUMBAI vs. ITO- 19(3)(4), MUMBAI

68 of the I.T.Act. Under the facts and\ncircumstances of the matter, he ought not to have\nconfirmed the said addition of Rs.59,24,273/-.\"\n\nAdditional ground\n\"1.\nThe notice u/s.148 of the Act is bad in law as the\nreopening is pursuant to the search of third party, and\ntherefore the provisions of section 153C

INCOME TAX OFFICER 13(1)(1) MUMBAI, MUMBAI vs. NIRNAY COMMODITIES AND DERIVATIVES PVT LTD, MUMBAI

section 68 of the act and further the commission of\nRs. 168,231/- was not added to the total

INCOME TAX OFFICER 13(1)(1) MUMBAI, MUMBAI vs. NIRNAY COMMODITIES AND DERIVATIVES PVT LTD, MUMBAI

In the result all the appeals filed by the assessing officer are allowed for statistical purposes

Bench: Shri Prashant Maharishi & Shri Raj Kumar Chauhan

section 68 of the act and further the commission of Rs. 168,231/– was not added to the total

INCOME TAX OFFICER 13(1)(1) MUMBAI, MUMBAI vs. NIRNAY COMMODITIES AND DERIVATIVES PVT LTD, MUMBAI

In the result all the appeals filed by the assessing officer are allowed for statistical purposes

Bench: Shri Prashant Maharishi & Shri Raj Kumar Chauhan

section 68 of the act and further the commission of Rs. 168,231/– was not added to the total

INDUCTO STEEL LIMITED ,MUMBAI vs. ACIT 3(2), MUMBAI

The appeal of the appellant is allowed for statistical purposes

Bench: Smt. Beena Pillai (Jm) & Shri Omkareshwar Chidara (Am) Inducto Steel Limited The Acit-3(2)(1) 156, Maker Chambers Vi Aayakar Bhavan 220, Jamnalal Bajaj Marg Vs. M.K. Road Nariman Point Mumbai-40 0020. Mumbai-400 021. Pan : Aaach1045E Appellant Respondent

section 68 of the Act made by the Ld. AO was confirmed. Before the Bench, the Ld. AR of the appellant filed information relating to sales made to M/s. Harsha Enterprise with break up of excise, sales tax paid, sale invoices issued to M/s. Harsha Enterprise, transport bills and copy of bank ledger, in the paper book vide page

SURENDRA GARG HUF,MUMBAI vs. ITO - 19(3)(4), MUMBAI

68 of the I.T.Act. Under the facts and\ncircumstances of the matter, he ought not to have\nconfirmed the said addition of Rs.59,24,273/-.\"\nAdditional ground\n"1.\nThe notice u/s.148 of the Act is bad in law as the\nreopening is pursuant to the search of third party, and\ntherefore the provisions of section 153C

ACIT 9(2)(2), MUMBAI vs. CITYGOLD FARMING P.LTD, MUMBAI

Bench: Shri M. Balaganesh & Shri Pavan Kumar Gadaleacit – 9(2)(2) Citygold Farming P. Ltd., बनाम/ Room No. 665A, 6Th Floor 6Th Floor, Akruti Trade Vs. Aayakar Bhavan, Mk Road Centre, Road No. 7, Marol, Mumbai. Midc, Andheri (East), Mumbai- 400093 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aafca8865R .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year, the same may be charged to Income-tax as the income of the assessee of that previous year, if the explanation offered by the assessee about the nature and source thereof is, in the opinion of the Assessing

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 and 115BBE are not applicable in the case. 12. The Appellant craves leave to add, amend, delete or alter any of the grounds of appeal. 2. First of all, we take up legal ground regarding challenging the order of assessment on the ground that the same is barred by limitation. 3. In this regard Ld. AR & Ld. DR relied

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 and 115BBE are not applicable in the case. 12. The Appellant craves leave to add, amend, delete or alter any of the grounds of appeal. 2. First of all, we take up legal ground regarding challenging the order of assessment on the ground that the same is barred by limitation. 3. In this regard Ld. AR & Ld. DR relied

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

68 and 115BBE are not applicable in the case. 12. The Appellant craves leave to add, amend, delete or alter any of the grounds of appeal. 2. First of all, we take up legal ground regarding challenging the order of assessment on the ground that the same is barred by limitation. 3. In this regard Ld. AR & Ld. DR relied