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

245D, the amount on which interest was payable under sub-section (1) has been increased or reduced, as the case may be, the interest shall be increased or reduced accordingly, and in a case where the interest is reduced, the Assessing Officer shall serve on the assessee a notice of demand in the prescribed form specifying the amount

SHRI MOHAN THAKUR,MUMBAI vs. A.C.I.T. CENT. CIR. 8(4), MUMBAI

In the result, the appeal of the assessee is hereby ordered to be allowed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.7413 /Mum/2017 (ननधधारण वर्ा / Assessment Years: 2008-09) बनधम/ Shri Mohan Thakur Acit, Central Circle-8(4) 6Th Floor Aayakar Bhavan, 4, Flora Vila, 35, St. Vs. M.K. Road, Mumbai- Andrews Road, Bandra 400020. (W), Mumbai-400050. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. :Aaapt2966N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri Durga Dutt/ Akhtar H. Ansari (Dr) Assessee By: Dr. K. Shivaram सुनवाई की तारीख / Date Of Hearing: 15/11.2019 घोषणा की तारीख /Date Of Pronouncement: 09/01/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 30.10.2017 Passed By The Commissioner Of Income Tax (Appeals)-50, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2008- 09. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “The Learned Cit(A) Erred In Upholding The Validity Of Notice U/S 148 Where The Proceedings U/S 153C Had Already Been Initiated Which Were Dropped & Immediately The Reassessment Proceedings Had Been Initiated Without Any Fresh Material On Record & Hence Reopening Is Void- Ab - Initio Merit : Addition Of Rs.237.00.000/- Based On Entries In Diary Of Third Person: 2. No Addition Can Be Made Based On Entries Found In The Books In Third Party'S Premises Since No Search U/S 132 Had Taken Place On The Assessee & Hence S.132(4A) Would Not Be Applicable To The Present Facts Of The Case. In View Of The Same The Entire Addition May Be Deleted.

68,079 Emirates Rupani 09 Total A 6,44,879 Funds given by Mohan Thakur to Desiree Ann Thakur 20.03.2008 43,407 Ireland Hugo Merry 2008-09 37.5367 16,29,355 Stud Farm 18.03.2008 10,713 Unknown Callbrated 2008-09 37.7547 4,04,466 colur 07.11.2007 1,30,659 Hong Kong Golden 2008-09 36.3154 47,44,933 Dragon

ACIT (CC)-8(2) , MUMBAI vs. HELIOS EXPORTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

ASSTT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI vs. HELIOS MERCANTILE LIMITED, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

HELLIOS EXPORTS LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

ACIT (CC)-8(2) , MUMBAI vs. HELIOS EXPORTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

CITRON INFRAPROJECT LTD.,,MUMBAI-400005 vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI-20

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP SOUTH WEST INDUSTRIES LTD. (FORMERLY, PLATINUM TEXTILE LTD.),MUMBAI vs. DCIT, CC- 8(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

CITRON INFRAPROJECT LTD.,,MUMBAI-400005 vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI-400020

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP SOUTH WEST INDUSTRIES LTD. (FORMERLY, PLATINUM TEXTILE LTD.),MUMBAI-400005 vs. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI MUMBAI MUMB, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI vs. M/S CITRON INFRAPROJECTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP SOUTH WEST INDUSTRIES LTD. (FORMERLY, PLATINUM TEXTILE LTD.),MUMBAI-400005 vs. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SHRIVALLABH PITTIE INDUSTRIES LTD ,MUMBAI. vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI vs. M/S CITRON INFRAPROJECTS LTD , MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2)., MUMBAI vs. M/S CITRON INFRAPROJECTS LTD , MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A