DY CIT-1(3)(2), MUMBAI vs. MAHARASHTRA STATE CO-OPERATIVE BANK LIMITED, MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is allowed partly assessee is allowed partly whereas the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

254, section 260, section 262, section 263, or section 264 or in an order of any court in a proceeding section 264 or in an order of any court in a proceeding section 264 or in an order of any court in a proceeding otherwise than by way of appeal otherwise than

M/S THE MAHARASHTRA STATE CO. OP BANK LTD.,MUMBAI vs. ITO-1(3)(3), MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is allowed partly assessee is allowed partly whereas the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

254, section 260, section 262, section 263, or section 264 or in an order of any court in a proceeding section 264 or in an order of any court in a proceeding section 264 or in an order of any court in a proceeding otherwise than by way of appeal otherwise than

M/S THE STATE BANK OF PATIALA,PATIALA vs. ACIT, PATIALA

In the result, the appeals of the assessee are partly allowed for In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2013-14 & Assessment Year: 2014-15 & Assessment Year: 2015-16 The State Bank Of India Asst. Cit Circle-Patiala, (Successor To State Bank Of Aayakar Bhavan, Vs. Patiala), Patiala-147001 Dgm & Cfo, Sbi, Local Head Office – Chandigarh, 2Nd Floor, Sector 17A, Chandigarh- 160017. Pan No. Aaccs 0143 D Appellant Respondent Assessee By : Mr. Ketan Ved & Mr. Ninadpatade, Ars Revenue By : Dr. Kishor Dhule, Cit-Dr : Date Of Hearing 09/03/2023 Date Of Pronouncement : 31/03/2023

1)(viia) of the Act. This ground of appeal deduction u/s 36(1)(viia) of the Act. This grou deduction u/s 36(1)(viia) of the Act. This grou is, therefore, dismissed. is, therefore, dismissed.” 12. We have heard rival submission of the parties on the issue in We have heard rival submission of the parties on the issue

M/S.BALAJI BULLION & COMMODITIES (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE-40, MUMBAI

In the result, both the appeals are allowed

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Balaji Bullion & Commodities The Dy. Commissioner Of (India) Private Limited Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002 (Appellant) (Respondent) Pan No. Aadcbo236F Balaji Universal Tradelinks P. The Dy. Commissioner Of Ltd. Income–Tax, 118/120, 3Rd Floor, Ashoka Central Circle–40, Vs. House Zavri Baazar, Mumbai Mumbai-400 002

section (1) shall be deemed to have been executed,— (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any ITA Nos. 1291 & 1292/Mum/2018 M/s Balaji Universal Tradelinks P. Ltd. & Balaji Bullion & commodities (I) P. Ltd.; A.Y. 09–10 person in whose case the warrant of authorisation

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

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

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

section 36(1)(viia) of the Act. 27. The brief facts of the case, pertaining to the issue, are: During the assessment proceedings, it was noticed that the assessee claimed deduction of Rs.2709,78,23,972, under section 36(1)(viia) of the Act. In the notes to the computation of income filed along with the return

ASST CIT CIR 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

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

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

section 36(1)(viia) of the Act. 27. The brief facts of the case, pertaining to the issue, are: During the assessment proceedings, it was noticed that the assessee claimed deduction of Rs.2709,78,23,972, under section 36(1)(viia) of the Act. In the notes to the computation of income filed along with the return

BALAJI UNIVERSAL TRADELINK P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

The appeals of the assessee are allowed and that of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri Sanjay Arora

section (1) shall be deemed to have been executed,— (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued;” 2.17. Thus, the search will be deemed to be concluded on the basis of last panchnama drawn

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

section (1) shall be deemed to have been executed,— (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued;” 2.17. Thus, the search will be deemed to be concluded on the basis of last panchnama drawn

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

section (1) shall be deemed to have been executed,— (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued;” 2.17. Thus, the search will be deemed to be concluded on the basis of last panchnama drawn

ASST CIT CIR 2, THANE vs. SALASAR DEVELOPERS, THANE

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

section (1) shall be deemed to have been executed,— (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued;” 2.17. Thus, the search will be deemed to be concluded on the basis of last panchnama drawn

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

254)(Gau) held that transaction by cheques may not be always sacrosanct. In the present appeal, the assessee duly fulfilled the conditions enshrined u/s 68 of the Act and produced necessary evidence for its claim. 3.5. The ratio laid down in ACIT vs Rajeev Tandon 294 ITR (AT) 219 (Del.), which was confirmed by Hon’ble High Court

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

254 Speciality Paper 7,68,16,760 7,68,16,760 1,72,08,14,208 1,79,76,30,968 1,91,50,53,995 Limited Terry Towel 1,00,00,000 1,00,00,000 8,71,68,075 9,71,68,075 1,90,099,702 Industries Limited 6.7 Despite specific report called Despite specific report called

R. KUNDAN & CO.,MUMBAI vs. ITO WD 14(3)(2), MUMBAI

Bench: Shri Joginder Singh & Shri Rajesh Kumar

section 6(1)(c) of the Act read with Explanation (b) his status was non-resident, therefore, the global income cannot be taxed in India. We, 53 Mr. Binod Kumar Singh therefore, on this issue, affirm the conclusion of the ld. Commissioner of Income Tax (Appeals). 3. The next ground raised by the Revenue pertains to deleting the addition

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

1) and time limit for issue of notice u/s. 143(2) had expired on the date of search. Therefore, there was no assessment pending in this case and in such a case there was no question of abatement. Therefore, addition could be made only on the basis of incriminating material found during search. In this case, no incriminating documents were

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

1) and time limit for issue of notice u/s. 143(2) had expired on the date of search. Therefore, there was no assessment pending in this case and in such a case there was no question of abatement. Therefore, addition could be made only on the basis of incriminating material found during search. In this case, no incriminating documents were

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

1) and time limit for issue of notice u/s. 143(2) had expired on the date of search. Therefore, there was no assessment pending in this case and in such a case there was no question of abatement. Therefore, addition could be made only on the basis of incriminating material found during search. In this case, no incriminating documents were

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).

254 or section 260 or section 262 or section 263 or section 264 or an order of the Settlement Commission under sub-section (4) of section 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

INCOME TAX OFFICER 8(3)(3), MUMBAI vs. M/S.VIBGYOR TEXOTECH PRIVATE LIMITED, MUMBAI

In the result, the appeal of the assessee is partly allowed, whereas appeal of the Revenue is allowed

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

section 68 towards cash credits which are not explained or which are not properly explained. This is because the source of the former is business whereas for the latter the Department does not have to locate any particular source [Kale Khan Mohammed Hanif vs. CIT (1963) 50 ITR 1 (SC) impliedly overruling Ramcharitar Ram Harihar Prasad