ACIT CIRCLE-22(1), MUMBAI vs. RAHEJA LEGACY TRUST, MUMBAI

In the result, the appeal of the assessee is partly allowed and appeal filed by the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

7. The Ld. CIT (A) has erred in adding unsecured loans totalling to Rs.3,64,82,500/- as unexplained cash credit under Section 68

RAHEJA LEGENCY TRUST,MUMBAI vs. ACIT, CIR-22(1), MUMBAI

In the result, the appeal of the assessee is partly allowed and appeal filed by the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

7. The Ld. CIT (A) has erred in adding unsecured loans totalling to Rs.3,64,82,500/- as unexplained cash credit under Section 68

LUMINANT INVESTMENTS LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -40, MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2006-07 Luminant Investments Ltd., Dy. Cit Central Circle 40, (Formerly Known As Luminant Aayakar Bhavan, M.K. Road, Vs. Investment Pvt. Ltd.) Mumbai-400020. 121, Radha Bhuvan, 1St Floor, Nagindas Master Road, Fort, Mumbai-400023. Pan No. Aaacl 0834 A Appellant Respondent

section 68 to the hilt, as observed by the hon'ble court. The assessee in the instant case is, observed by the hon'ble court. The assessee in the instant case is, observed by the hon'ble court. The assessee in the instant case is, however a private li however a private limited company, in which the public

RAKESH JAIN,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE (NFAC), DELHI

In the result the appeal filed by the assessee stands allowed

section 44AB\nSection 144, read with sections 44AB and\n68, of the Income-tax Act, 1961 Best\njudgment assessment (Scope of)\n Assessment year 2009-10 During\nassessment proceedings, assessee could\nnot produce confirmation letter from large\nnumber of creditors in respect of amount\nborrowed Assessee claimed that it had\nnot maintained books of account and,\ntherefore, amount

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

section 68. He therefore, recorded his satisfaction that the income had escaped assessment and that this was due to the assessee having failed to disclose truly and fully all facts. [Para 7

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -5(2), MUMBAI, NARIMAN POINT, MUMBAI vs. AGV CONSULTANTS , BORIVALI (E), MUMBAI

In the result, all the appeals filed by the revenue stands dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Hon’Ble Shri Prabhash Shankar

7- 12-2020 which were produced in post-survey proceedings. Thus the Appellant has discharged the initial onus which lay on it in term of section 68

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 5(2), MUMBAI, NARIMAN POINT, MUMBAI vs. AGV CONSULTANTS , BORIVALI (E), MUMBAI

In the result, all the appeals filed by the revenue stands dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Hon’Ble Shri Prabhash Shankar

7- 12-2020 which were produced in post-survey proceedings. Thus the Appellant has discharged the initial onus which lay on it in term of section 68

NAV CONSEC P.LTD,MUMBAI vs. ITO 9(2)(3), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri. Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.3258/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/S Nav Consec Pvt Ltd बिधम/ Income Tax Officer, Ward 9(2)(3) Mumbai. Vs. C/O Sanjay Shah, 108, 1St Floor Sujata Niketan, Rani Sati Marg Malad East, Mumbai-400097 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcn1435A (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Anil Surana, Ca (Written Submission) Assessee By: Dr Mahesh Akhade, Cit Dr

7. We have heard both the parties and perused the records. Before us, the main ground raised by the assessee is that no addition could have been sustained under section 68

SYNTENSIA NETWORK SECURITY INDIA P.LTD,MUMBAI vs. ITO 11(2)(4), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm M/S. Syntensia Network Security Vs. Ito 11(2)(4) India Pvt. Ltd., Churchgate, 506, Laxmi Mall Laxmi Industrial Mumbai - 400020 Estate New Link Road, Andheri (W) Mumbai - 400053 Pan/Gir No.Aalcs1143G Appellant) Respondent) ..

7. [2006) 6 SOT 301 (DELHI) Parmod Kumar Dang vs. JCIT Section 68 of the Income-tax Act, 1961 - Cash

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

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

DCIT CENTRAL CIRCLE-2(2), MUMBAI vs. M/S SUCHIR CHEMICALS PVT LTD, MUMBAI.

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit –Central Circle – 2(2) V. M/S. Suchir Chemicals Pvt. Ltd., Old Cgo Building (Amalgamated Company – Manan Pharma Pvt Ltd. W.E.F 01.04.2013) Room No. 806, 8Th Floor 2Nd Floor, Shiv Ashish M.K. Road, Mumbai - 400020 Andheri Prade, Mumbai - 400005 Pan: Aaccm7533K (Appellant) (Respondent) Assessee By : Ms. Pooja Rander & Shri Rushabh Mehta Department By : Shri Manoj Sinha

section 68 of the Act. The extract of para 7 from the sold judgment is reproduced as under: "7

FOREVER FLOURISHING FIN. & INV. PVT. LTD. ,MUMBAI vs. DCIT (CC)-3(4), MUMBAI, MUMBAI

In the result, appeal for the assessment year 2012

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Section 68 was not in order. recourse to the provisions of Section 68 was not in order. recourse to the provisions of Section 68 was not in order. Now, in order to Now, in order to appreciate the submission it would be appreciate the submission it would be necessary to consider the Judgment of the Delhi High

FOREVER FLOURISHING FIN & INV. PVT LTD,MUMBAI vs. DCIT-CC-3(4), MUMBAI, MUMBAI

In the result, appeal for the assessment year 2012

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Section 68 was not in order. recourse to the provisions of Section 68 was not in order. recourse to the provisions of Section 68 was not in order. Now, in order to Now, in order to appreciate the submission it would be appreciate the submission it would be necessary to consider the Judgment of the Delhi High

DCIT-42(1)(1), MUMBAI vs. SRI UDAY GHANSHYAM NAIK, MUMBAI

In the result, the cross

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2018-19

7 ITA No. 989, 1098 & CO No. 73 , 1098 & CO No. 73/MUM/2025 ₹4,18,82,630/– under Section 68

UDAY GHANSHYAM NAIK ,MUMBAI vs. ITO CIRCLE 42(1)(1), MUMBAI

In the result, the cross

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2018-19

7 ITA No. 989, 1098 & CO No. 73 , 1098 & CO No. 73/MUM/2025 ₹4,18,82,630/– under Section 68

DCIT 4 (3)(1), MUMBAI vs. SHRI MOHIT KEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alcpk2213Q (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

7. Ground no. 4 is against the action of the Ld. CIT(A) deleting the additions made by the AO u/s 68 of the Act. The facts of the case in brief, are that, the AO had noted from the balance-sheet of the assessee, that he had outstanding unsecured loans from various parties aggregating

ACIT CIR-6(3)(2), MUMBAI vs. SHRI MOHIT DEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

7. Ground no. 4 is against the action of the Ld. CIT(A) deleting the additions made by the AO u/s 68 of the Act. The facts of the case in brief, are that, the AO had noted from the balance-sheet of the assessee, that he had outstanding unsecured loans from various parties aggregating

DCIT 4 (3)(1), MUMBAI vs. MOHIT DEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

7. Ground no. 4 is against the action of the Ld. CIT(A) deleting the additions made by the AO u/s 68 of the Act. The facts of the case in brief, are that, the AO had noted from the balance-sheet of the assessee, that he had outstanding unsecured loans from various parties aggregating