ITO -33 (1) (1) , MUMBAI vs. SHRI KALPESH C.SHAH, MUMBAI

In the result, all the three appeals of the In the result, all the three appeals of the Revenue are In the result, all the three appeals of the dismissed

Bench: Shri Om Prakash Kant () & Ms Kavitha Rajagopal () Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13 Ito-33(1)(1), Shri Kalpesh C. Shah, Kautilya Bhavan, 9Th Floor, Room Flat No. 904, Rajvaibhav Tower- No. 945, Bandra Kurla Complex, Vs. 2, Dahanukar Wadi, Mahavir Bandra (E), Nagar, Kandiwali(W), Mumbai-400051. Mumbai-400067. Pan No. Aajps 8486 R Appellant Respondent Revenue By : Mrs. Usha Gaikwad, Dr Assessee By : Mr. K. Gopal, Sr. Adv. & A/W Om Kandalkar, Adv. Date Of Hearing : 21/09/2022 Date Of Pronouncement : 28/09/2022

68 of the Act in view of the material available on in view of the material available on record, surrounding circumstances, human conduct, preponderance record, surrounding circumstances, human conduct, preponderance record, surrounding circumstances, human conduct, preponderance of probability in nature of in nature of incriminating information/evidence information/evidences available with him. The addition for alleged interest payment of available with

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

ITO-15(2)(4), MUMBAI vs. M/S PRAVIR POLYMERS PVT LTD., MUMBAI

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2011-12 Income Tax Officer-15(2)(4), M/S Pravir Polymers Pvt. Ltd., Room No. 360, Aayakar Bhavan, M.K. 601/602, Delta, Central Avenue, Road, Marine Lines, Vs. Technology Street, Hiranandani Mumbai-400020. Garden Powai, Mumbai-400076. Pan No. Aaacp 4621 K Appellant Respondent

68 of the Act was not justified. He has also submitted that the only basis of coming to conclusion that the impugned unsecured loans were not genuine, was the statement of Shri Shirish Chandrakant Shah. 2.4.1.5 During the course of Assessment Proceedings the learned AO asked the Appellant to produce investors before him for verification. As against M/s Pravir Polymers

MEGHJI MANSUKHLAL DODHIA,BHIWANDI vs. DCIT-CC-3, THANE, THANE

292C\nof the Act was also pressed into service to submit that the\ncontents of the seized documents are presumed to be true unless\nrebutted by cogent evidence.\n26. In relation to the addition under section 68

DCIT, CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. SHIV SHANKAR SHARMA, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

68 is directed to be deleted and the order of the CIT(A) is confirmed. The ground raised by the Revenue is dismissed. B. Disallowance made u/s.37(1) of the Income Tax Act, 1961 in case of Piece rate workers (PRW) 26. During the course of search, signed cheque books of the party who raise invoice for the PRW expenses

SHRI SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

68 is directed to be deleted and the order of the CIT(A) is confirmed. The ground raised by the Revenue is dismissed. B. Disallowance made u/s.37(1) of the Income Tax Act, 1961 in case of Piece rate workers (PRW) 26. During the course of search, signed cheque books of the party who raise invoice for the PRW expenses

DCIT, CENTRAL CIRCLE - 8 (1), MUMBAI, MUMBAI vs. SHIV SHANKAR SHARMA, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

68 is directed to be deleted and the order of the CIT(A) is confirmed. The ground raised by the Revenue is dismissed. B. Disallowance made u/s.37(1) of the Income Tax Act, 1961 in case of Piece rate workers (PRW) 26. During the course of search, signed cheque books of the party who raise invoice for the PRW expenses

DCIT CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. SHIVSHANKAR RAMSWAROOP SHARMA, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

68 is directed to be deleted and the order of the CIT(A) is confirmed. The ground raised by the Revenue is dismissed. B. Disallowance made u/s.37(1) of the Income Tax Act, 1961 in case of Piece rate workers (PRW) 26. During the course of search, signed cheque books of the party who raise invoice for the PRW expenses

SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

68 is directed to be deleted and the order of the CIT(A) is confirmed. The ground raised by the Revenue is dismissed. B. Disallowance made u/s.37(1) of the Income Tax Act, 1961 in case of Piece rate workers (PRW) 26. During the course of search, signed cheque books of the party who raise invoice for the PRW expenses

SHIV SHANKAR SHARMA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

68 is directed to be deleted and the order of the CIT(A) is confirmed. The ground raised by the Revenue is dismissed. B. Disallowance made u/s.37(1) of the Income Tax Act, 1961 in case of Piece rate workers (PRW) 26. During the course of search, signed cheque books of the party who raise invoice for the PRW expenses

PANDURANG NAIG,MUMBAI vs. ASST CIT CEN CIR 32, MUMBAI

Bench: Shri Sanjay Garg & Shri Rajesh Kumarआयकर अपील सं./Ita No.7089/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Shri Pandoo P. Naig, 96-98, Vs. Acit, Cc-32, Mumbai- Mint Road, Mumbai-400001 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.7364/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Acit, Cc-32, Mumbai- Vs. Shri Pandoo P. Naig, 96-98, 400020 Mint Road, Mumbai-400001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.6671/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Prakash B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No. 6672/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Pravin B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" क" क" ओर क" ओर ओर सेसेसेसे /Assessee By ओर : Shri Vijay Mehta राज"व क" क" ओर क" क" ओर ओर सेसेसेसे /Revenue By ओर : Shri C.W.Angolkar सुनवाई क" तारीख / Date Of Hearing : 04/04/2016 घोषणा क" तारीख/Date Of Pronouncement 24/06/2016

section 292C of the Income tax Act, held that there was a presumption that the said loose paper belonged to the assessee and the entries made therein represented the unaccounted income of the assessee. He, after going through the transactions recorded in the said loose papers observed that the profit arising out from the various transactions was done

ASST CIT CEN CIR 32, MUMBAI vs. PANDOO P. NAIG, MUMBAI

Bench: Shri Sanjay Garg & Shri Rajesh Kumarआयकर अपील सं./Ita No.7089/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Shri Pandoo P. Naig, 96-98, Vs. Acit, Cc-32, Mumbai- Mint Road, Mumbai-400001 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.7364/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Acit, Cc-32, Mumbai- Vs. Shri Pandoo P. Naig, 96-98, 400020 Mint Road, Mumbai-400001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.6671/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Prakash B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No. 6672/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Pravin B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" क" क" ओर क" ओर ओर सेसेसेसे /Assessee By ओर : Shri Vijay Mehta राज"व क" क" ओर क" क" ओर ओर सेसेसेसे /Revenue By ओर : Shri C.W.Angolkar सुनवाई क" तारीख / Date Of Hearing : 04/04/2016 घोषणा क" तारीख/Date Of Pronouncement 24/06/2016

section 292C of the Income tax Act, held that there was a presumption that the said loose paper belonged to the assessee and the entries made therein represented the unaccounted income of the assessee. He, after going through the transactions recorded in the said loose papers observed that the profit arising out from the various transactions was done

ACIT CEN CIR 32, MUMBAI vs. PRAVIN B. BHANDARKAR, MUMBAI

Bench: Shri Sanjay Garg & Shri Rajesh Kumarआयकर अपील सं./Ita No.7089/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Shri Pandoo P. Naig, 96-98, Vs. Acit, Cc-32, Mumbai- Mint Road, Mumbai-400001 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.7364/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Acit, Cc-32, Mumbai- Vs. Shri Pandoo P. Naig, 96-98, 400020 Mint Road, Mumbai-400001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.6671/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Prakash B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No. 6672/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Pravin B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" क" क" ओर क" ओर ओर सेसेसेसे /Assessee By ओर : Shri Vijay Mehta राज"व क" क" ओर क" क" ओर ओर सेसेसेसे /Revenue By ओर : Shri C.W.Angolkar सुनवाई क" तारीख / Date Of Hearing : 04/04/2016 घोषणा क" तारीख/Date Of Pronouncement 24/06/2016

section 292C of the Income tax Act, held that there was a presumption that the said loose paper belonged to the assessee and the entries made therein represented the unaccounted income of the assessee. He, after going through the transactions recorded in the said loose papers observed that the profit arising out from the various transactions was done

ACIT CEN CIR 32, MUMBAI vs. PRAKASH B BHANDARKAR, MUMBAI

Bench: Shri Sanjay Garg & Shri Rajesh Kumarआयकर अपील सं./Ita No.7089/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Shri Pandoo P. Naig, 96-98, Vs. Acit, Cc-32, Mumbai- Mint Road, Mumbai-400001 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.7364/Mum/2011 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year :2008-09) वष" Acit, Cc-32, Mumbai- Vs. Shri Pandoo P. Naig, 96-98, 400020 Mint Road, Mumbai-400001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Acnpn 2800 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.6671/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Prakash B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No. 6672/Mum/2012 (िनधा"रण िनधा"रण वष" वष" / Assessment Year :2008-09) िनधा"रण िनधा"रण वष" वष" Acit, Cc-32, Mumbai- Vs. Pravin B. Bandarkar, Room 400020 No.1, Baburao Chawl, Hanuman Takadi, Bhandup (W), Mumbai- 400078 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ahlpb 1306 N (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" क" क" ओर क" ओर ओर सेसेसेसे /Assessee By ओर : Shri Vijay Mehta राज"व क" क" ओर क" क" ओर ओर सेसेसेसे /Revenue By ओर : Shri C.W.Angolkar सुनवाई क" तारीख / Date Of Hearing : 04/04/2016 घोषणा क" तारीख/Date Of Pronouncement 24/06/2016

section 292C of the Income tax Act, held that there was a presumption that the said loose paper belonged to the assessee and the entries made therein represented the unaccounted income of the assessee. He, after going through the transactions recorded in the said loose papers observed that the profit arising out from the various transactions was done

DCIT, CENTRAL CIRCLE-8(1), MUMBAI, MUMBAI vs. SHIVSHANKAR RAMSWAROOP SHARMA, MUMBAI

sections": [ "132", "132(4)", "143(3)", "147", "153A", "153A(1)", "65B", "153A(1)(b)", "68", "37(1)", "292C", "115BBE

SHRI SHIV SHANKAR SHARMA ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

sections": [ "132", "132(4)", "143(3)", "147", "153A", "153A(1)", "37(1)", "68", "65B", "292C", "115BBE", "69C", "69A" ], "issues": "The primary issue was whether the Assessing Officer had the jurisdiction to invoke Section

VARDHA ENTERPRISES PRIVATE LIMITED,MUMBAI vs. ACIT, CENTRAL CIRCLE- 4(3), MUMBAI

In the result, appeal of the revenue vide ITA Nos

68", "Section 37", "Section 153C", "Section 115BBE", "Section 143(3)", "Section 292C", "Section 90A", "Section

SHRI SHIV SHANKAR SHARMA ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(3), MUMBAI, MUMBAI

sections": [ "153A", "143(3)", "147", "68", "37(1)", "65B", "115BBE", "69A", "69C", "292C" ], "issues": "The primary issue was the validity