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)

272A(1)(c) of the Act. 2.05 Inspectors in charge had visited premises of the ITA No.1728 /Mum/2018 Citygold Farming P. Ltd., Mumbai. Next gen Infotel Pvt Limited Aiken Management and Financial Services Pvt Limited Harekrishna Securities Pvt Limited 2.06 Vide letter dt. 08.01.2013, the. appellant company had informed the Ld. AO that all the documents and registers were destroyed

ADDL CIT R G 7(1), MUMBAI vs. NOVARTIS INDIA LTD ( FORMERLY KNOWN AS HINDUSTAN CIBA GIEGY LTD. ), MUMBAI

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Novartis India Limited V. Asst. Commissioner Of Income –Tax - 7(2)(2) {Earlier Addl. Commissioner Of Income –Tax – 7(1)} 6Th& 7Th Floor 1St Floor, Aayakar Bhavan Inspire Bkc M.K. Road, Mumbai - 400020 “G” Block, Bkc Main Road Bandra Kurla Complex, Bandra (E) Mumbai – 400051 Pan: Aaach2914F (Appellant) (Respondent) Addl. Commissioner Of Income –Tax – 7(1) V. M/S. Novartis India Limited Room No. 622, Aayakar Bhavan {Earlier Known As Hindustan Ciba Giegy Ltd.,} Sandoz House, Dr. A.B. Road M.K. Road, Mumbai - 400020 Worli, Mumbai – 400018 Pan: Aaach2914F (Appellant) (Respondent) Co No.190/Mum/2011 [Arising Out Of Ita No.6772/Mum/2010 (A.Y. 2002-03)] M/S. Novartis India Limited V. Addl. Commissioner Of Income –Tax – 7(1)} Room No. 622, Aayakar Bhavan {Earlier Known As Hindustan Ciba Giegy Ltd.,} Sandoz House, Dr. A.B. Road M.K. Road, Mumbai - 400020 Worli, Mumbai – 400018 Pan: Aaach2914F (Appellant) (Respondent)

272A; or (d) an order passed by an Assessing Officer under sub-section (3), of section 143 or section 147or section 153A or section 153C in pursuance of the directions of the Dispute Resolution Panel or an order passed under section 154 in respect of such order; (e) an order passed by an Assessing

PRASHANTI LAND DEVELOPERS LTD,MUMBAI vs. ACIT, CIR-13(1)(2), MUMBAI

In the result, the appeal is allowed for statistical purpose

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

section 68 of the Income Tax Act 1961 8. The Ld CIT erred in confirming penalty u/s 274 r.w.s 270A and 272A

MAHARASHTRA STATE PHARMACY COUNCIL ,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

APEX EDUCATION SOLUTIONS ,MUMBAI vs. ITO WARD 33(1)(1), MUMBAI

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

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI OM PRAKASH KANT (Accountant Member)

68[ 69[fifty] lakh rupees] in any 70[previous year; or (c) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under 71[section 44AE ] 72[or section 44BB or section 44BBB], as the case may be, and he has claimed

APEX EDUCATION SOLUTIONS,MUMBAI vs. ITO WARD 33(1)(1), MUMBAI

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

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI OM PRAKASH KANT (Accountant Member)

68[ 69[fifty] lakh rupees] in any 70[previous year; or (c) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under 71[section 44AE ] 72[or section 44BB or section 44BBB], as the case may be, and he has claimed

APEX EDUCATION SOLUTIONS ,MUMBAI vs. ITO WARD 33(1)(1), MUMBAI

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

68[ 69[fifty] lakh rupees] in any 70[previous year; or\n(c) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under 71[section 44AE ] 72[or section 44BB or section 44BBB], as the case may be, and he has claimed

RAJESH BABULAL SHAH ,MUMBAI vs. DCIT CIRCLE 20(1), MUMBAI

In the result, all the three appeals bearing ITA Nos 2385 to 2387/Mum/2025 are allowed for statistical purpose

Bench: The Ld.Cit(A) Are Appearing As Follows:- Sr.No.

68 of the Act as unexplained cash credit amount to Rs.1,26,61,834/- and the tax was computed under section 115BBE of the Act. Accordingly, the penalty under section 271AAC(1) was imposed on assessee in relation to alleged addition. The aggrieved assessee filed appeal before the Ld. CIT(A), who dismissed the appeal on the point

RAJESH BABULAL SHAH ,MUMBAI vs. DCIT, CIRCLE 20(1), MUMBAI

In the result, all the three appeals bearing ITA Nos 2385 to 2387/Mum/2025 are allowed for statistical purpose

Bench: The Ld.Cit(A) Are Appearing As Follows:- Sr.No.

68 of the Act as unexplained cash credit amount to Rs.1,26,61,834/- and the tax was computed under section 115BBE of the Act. Accordingly, the penalty under section 271AAC(1) was imposed on assessee in relation to alleged addition. The aggrieved assessee filed appeal before the Ld. CIT(A), who dismissed the appeal on the point

DEEPAK VALJI KARIA,MUMBAI vs. ITO - 28(1)(3), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Bleshri Deepak Valji Karia V. Income Tax Officer – 28(1)(3) Flat No. 2501, B Wing Room No. 327 Maroj Palm Paradise Tower No. 6, 3Rd Floor Palm Beach Road, Sector 17 Vashi Railway Station Building Complex Vashi, Navi Mumbai-400703 Sanpada, Navi Mumbai 400705 Pan: Ahfpk2679F (Appellant) (Respondent) Assessee By : Ms. Dinkle Hariya Department By Shri Sanjeev Kashyp

68 has absolutely no application to the facts of the Appellant’s case. The source of the credit entries was clearly established, being from recognised stock brokers, who had made payment in terms of the stock exchange rules and regulation in discharge of the statutory contract notes, and which transactions have not been held to be bogus by any concerned

VIMAL PUKHRAJ JAIN,MUMBAI vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, the appeal filed by the assessee is allowed

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm Vimal Pukhraj Jain National E-Assessment Centre, 806, Dheeraj Enclave, New Delhi Vs. Opp. Bhor Industries, Borivali (E), Mumbai-400 066 Pan/Gir No. Aaipj 6511 H (Appellant) : (Respondent)

68 as unexplained credits and initiated penalty proceeding levied u/s. 272A(1)(d) of the Act. The provision of section

APEX EDUCATION SOLUTIONS ,MUMBAI vs. ITO WARD 33(1)(1), MUMBAI

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

68[ 69[fifty]\nlakh rupees] in any 70[previous year; or\n(c) carrying on the business shall, if the profits and gains from the business are\ndeemed to be the profits and gains of such person under 71[section 44AE ] 72[or\nsection 44BB or section 44BBB], as the case may be, and he has claimed

APEX EDUCATION SOLUTIONS ,MUMBAI vs. ITO 33(1)(1), MUMBAI

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

68[ 69[fifty]\nlakh rupees] in any 70[previous year; or\n(c) carrying on the business shall, if the profits and gains from the business are\ndeemed to be the profits and gains of such person under 71[section 44AE ] 72[or\nsection 44BB or section 44BBB], as the case may be, and he has claimed

APEX EDUCATION SOLUTIONS ,MUMBAI vs. ITO WARD 3(1)(1), MUMBAI

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

68[ 69[fifty]\nlakh rupees] in any 70[previous year; or\n(c) carrying on the business shall, if the profits and gains from the business are\ndeemed to be the profits and gains of such person under 71[section 44AE ] 72[or\nsection 44BB or section 44BBB], as the case may be, and he has claimed