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

ESSEL MINING & INDUSTRIES LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE 1(4), MUMBAI

In the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2011-12 & Assessment Year: 2012-13 Essel Mining & Industries Ltd., Dy. Cit, Central Circle-1(4), Industry House, 18Th Floor, 10, 9Th Floor, Old Cgo Building, Camac Street, Vs. Mk Road, Kolkata-700017. Mumbai-400020. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 & Assessment Year: 2012-13 Jcit, Central Circle-1(4), M/S Essel Mining & Industries Room No. 902, Pratishtha Ltd., Bhavan, 9Th Floor, Old Cgo Vs. Industry House, 18Th Floor, 10, Building Annexe, Camac Street, Mumbai-400020. Kolkata-700017. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 M/S Essel Mining & Industries Dy. Cit, Central Circle-1(4), Ltd., 9Th Floor, Old Cgo Building, Vs. Industry House, 18Th Floor, 10, Mk Road

249/- (b) Club Expenses Rs. 58,347/ (b) Club Expenses Rs. 58,347/- (c) Penalty Expenses Rs. 16,13,694/ (c) Penalty Expenses Rs. 16,13,694/ (d) Depreciation Rs. 92,381/ preciation Rs. 92,381/- (e) Common Expenses related to EOU unit Rs. 1,86,424/ (e) Common Expenses related to EOU unit Rs. 1,86,424/ (e) Common

ESSEL MINING & INDUSTRIES LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), MUMBAI

In the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2011-12 & Assessment Year: 2012-13 Essel Mining & Industries Ltd., Dy. Cit, Central Circle-1(4), Industry House, 18Th Floor, 10, 9Th Floor, Old Cgo Building, Camac Street, Vs. Mk Road, Kolkata-700017. Mumbai-400020. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 & Assessment Year: 2012-13 Jcit, Central Circle-1(4), M/S Essel Mining & Industries Room No. 902, Pratishtha Ltd., Bhavan, 9Th Floor, Old Cgo Vs. Industry House, 18Th Floor, 10, Building Annexe, Camac Street, Mumbai-400020. Kolkata-700017. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 M/S Essel Mining & Industries Dy. Cit, Central Circle-1(4), Ltd., 9Th Floor, Old Cgo Building, Vs. Industry House, 18Th Floor, 10, Mk Road

249/- (b) Club Expenses Rs. 58,347/ (b) Club Expenses Rs. 58,347/- (c) Penalty Expenses Rs. 16,13,694/ (c) Penalty Expenses Rs. 16,13,694/ (d) Depreciation Rs. 92,381/ preciation Rs. 92,381/- (e) Common Expenses related to EOU unit Rs. 1,86,424/ (e) Common Expenses related to EOU unit Rs. 1,86,424/ (e) Common

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, ()

68 of the act, therefore we have decided to take up all the grounds together and adjudicate the same through the present consolidated order. 8. Ld. AR appearing on behalf of the assessee reiterated the same arguments as were raised by him before the revenue authorities and also relied upon the written submissions the same as reproduced here in below

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

68 of the act, therefore we have decided to take up all the grounds together and adjudicate the same through the present consolidated order. 8. Ld. AR appearing on behalf of the assessee reiterated the same arguments as were raised by him before the revenue authorities and also relied upon the written submissions the same as reproduced here in below

DCIT-14(1)(1), MUMBAI vs. JAYMALA INFRASTRUCTURE PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dism

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13

3. Devasenapati Sales Agency Private Limited Devasenapati Sales Agency Private Limited 108 - 109 4. Flutron Marketing & Advertising Private Limited Flutron Marketing & Advertising Private Limited 131 - 142 5. Onspec Infotech Limited Onspec Infotech Limited 175 - 186 6. Ronit Capital Management Limited Ronit Capital Management Limited 195 - 207 7. Ronit Textiles Private Limited Ronit 217 - 233 8. Shandhiya Marketing & Advertising Private

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. DCIT, CENTRAL RANGE-8 (3), MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is having ITA No

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Dcit-Cc 8(3), 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Jcit, Central Range-8, 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent : Assessee By Mr. Rushabh Mehta, Ar Revenue By : Mr. Manoj Kumar, Cit- Dr : Date Of Hearing 15/09/2022 Date Of Pronouncement : 31/10/2022

section 40A(3) of the Income Tax Act e Tax Act,1961 is intended to serve the objective o intended to serve the objective of checking tax evasion f checking tax evasion.” 8. Thus, the ld AO has not only held the purchases Thus, the ld AO has not only held the purchases Thus

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. JCIT, CENTRAL RANGE-8 , MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is having ITA No

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Dcit-Cc 8(3), 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Jcit, Central Range-8, 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent : Assessee By Mr. Rushabh Mehta, Ar Revenue By : Mr. Manoj Kumar, Cit- Dr : Date Of Hearing 15/09/2022 Date Of Pronouncement : 31/10/2022

section 40A(3) of the Income Tax Act e Tax Act,1961 is intended to serve the objective o intended to serve the objective of checking tax evasion f checking tax evasion.” 8. Thus, the ld AO has not only held the purchases Thus, the ld AO has not only held the purchases Thus

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

68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors. In CIT vs Korlay Trading Company Ltd. 232 ITR 820 (Cal.), it was held that mere mention of file number of creditor will not suffice

M/S.GEETANJALI SPACE PRIVATE LIMITED,MUMBAI vs. DY. CIT CC-1(1), MUMBAI

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

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2010-11

section 153A of the Act in the form of share application, bank statement, audited financial statement and memorandum and article of association, ITRs, name of the bank from where the payments were made. The said investments were duly reflected in the books of GSD Trading and Financial Services Pvt. And were also shown in the schedule of investments forming

OLEANDER FARMS P.LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal of the assessee is allowed in terms indicated hereinabove

Bench: Transfer Of File To The Ao Of The Assessee. 3. Rival Contentions Have Been Heard & Record Perused.

68 of the Act. In light of the above legal and factual position and other materials in possession of the AO, it is hereby held that initiation of proceedings u/ s 153C of the Act and assuming the jurisdiction by the AO in terms of section 153C of the Act in respect of the assessee are valid.” During appellate

MEDIA RESEARCH USERS COUNCIL,MUMBAI vs. ADIT (E) 1(1), MUMBAI

Appeal of the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble & Media Research Users Council V. Addl. Dit(E)– 1(1) 128, Tv Industrial Estate Piramal Chambers, Lalbaug S.K. Ahire Marg, Worli Mumbai – 400 012 Mumbai – 400012 Pan: Aaatm5433F (Appellant) (Respondent) Media Research Users Council V. Addl. Dit(E)– Range 1 128, Tv Industrial Estate Piramal Chambers, Lalbaug S.K. Ahire Marg, Worli Mumbai – 400 012 Mumbai – 400012 Pan: Aaatm5433F (Appellant) (Respondent)

3) will be tantamount to use or application for the benefit of such person. Further, to be regarded as use or application, the income which has been so used or applied must be identifiable. As regards the advance of Rs. 68,07,442 - applicability of Section 13(2)(a) The advances of ₹.68,07,442 were given

MEDIA RESEARCH USERS COUNCIL,MUMBAI vs. ADDL DIT (E) RG 1, MUMBAI

Appeal of the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble & Media Research Users Council V. Addl. Dit(E)– 1(1) 128, Tv Industrial Estate Piramal Chambers, Lalbaug S.K. Ahire Marg, Worli Mumbai – 400 012 Mumbai – 400012 Pan: Aaatm5433F (Appellant) (Respondent) Media Research Users Council V. Addl. Dit(E)– Range 1 128, Tv Industrial Estate Piramal Chambers, Lalbaug S.K. Ahire Marg, Worli Mumbai – 400 012 Mumbai – 400012 Pan: Aaatm5433F (Appellant) (Respondent)

3) will be tantamount to use or application for the benefit of such person. Further, to be regarded as use or application, the income which has been so used or applied must be identifiable. As regards the advance of Rs. 68,07,442 - applicability of Section 13(2)(a) The advances of ₹.68,07,442 were given

ITO 12(3)(1), MUMBAI, MUMBAI vs. NEXT AVENUE VENTURES PRIVATE LIMITED(EARLIER KNOWN AS KBJ VENTURES PRIVATE LIMITED), MUMBAI

In the result ground number 3 of the appeal is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm The Income Tax Officer Vs. M/S Next Avenue Ventures Ward- 12(3)(1), Pvt. Ltd. Mumbai-400020 (Earlier Known As Kbj Ventures Pvt. Ltd.) 3Rd Floor, Raheja Chambers, Link Road Main Avenue, Santacruz (W), Mumbai-400 054 (Appellant) (Respondent) Pan No. Aagck8343R

section 68 of the income tax act with respect to the share capital of ₹ 249,999,000/– in the name of Mrs Aksha Khamboj. Accordingly, ground number 2 of the appeal is dismissed. 037. With respect to ground number 3

M/S. LIFELINE MEDICARE HOSPITALS PVT LTD,MUMBAI vs. NFAC, MUMBAI

In the result ground number 3 of the appeal is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm The Income Tax Officer Vs. M/S Next Avenue Ventures Ward- 12(3)(1), Pvt. Ltd. Mumbai-400020 (Earlier Known As Kbj Ventures Pvt. Ltd.) 3Rd Floor, Raheja Chambers, Link Road Main Avenue, Santacruz (W), Mumbai-400 054 (Appellant) (Respondent) Pan No. Aagck8343R

section 68 of the income tax act with respect to the share capital of ₹ 249,999,000/– in the name of Mrs Aksha Khamboj. Accordingly, ground number 2 of the appeal is dismissed. 037. With respect to ground number 3

VIJAYA PRAKASH NAGORI ,MUMBAI vs. ITO WARD 32(2)(1), MUMBAI

Bench: Hon’Ble Shri Sandeep Gosain& Shri Om Prakash Kantvijaya Prakash Nagori Vs. Ito, Ward, 32(2)(1) 409/C, Abhar Jp Road, Kautilya Bhawan, C-41- Seven Bungalows, Andhere 43, Avenue, 3, Near (W), Mumbai – 400 061. Videsh Bhavan, G Block Bkc Pan/Gir No. Aekpr2943H (Applicant) (Respondent)

68 on account of alleged long term capital gain on sale of scripts of M/s. Excel Castronics Ltd 2. On the facts and circumstances of the case in law, Ld. CIT (A) erred in confirming stand of A.O. about the opportunity for cross examination with the person whose statement was recorded against her is not given. 3. On the facts

VIMALA JAYANTILAL PUROHIT,MUMBAI vs. INCOME TAX OFFICER CIRCLE 17(1), MUMBAI

In the result, the appeal of the assessee is allowed for statistical purposes

3)", "Section 32", "Section 68", "Section 69C", "Section 249(3)" ], "issues": "Whether the death of the assessee

AHMED P. SURANI,MUMBAI vs. ACIT 3(1)(1), MUMBAI

section 68 of the Act\noverlooking the major facts and submissions made on\nvarious dates and that the assesse is a regular investor in\nshares and securities and derives income from other\nsources, interest income and the dividend income. The\npurchase of shares are genuine through banking channels\nand the assesse has substantiated with various details\nreferred