DCIT CIR 1(4) , MUMBAI vs. ANANDILAL & GANESH PODAR SOCIETY, MUMBAI

In the result, all the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

survey operation u/s 133A of the Act in the premises of another third party. namely M/s Suba & Co. 15.85 Various Courts have time and again held that presumption u/s 132(4A)/292C is available only in respect of the person from whose possession the documents/ papers are seized. It cannot be applied against a third party and hence, no addition

ACIT CENTRAL CIRCLE-2(1), MUMBAI vs. M/S. G NINE MODULAR PVT. LTD., MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

68 of the Act. The Ld. DR submitted that in the case of the assessee assessee assessee along along along with with with search search search action, action, action, simultaneous simultaneous simultaneous survey survey survey M/s G Nine Modular and M/s G Trade Capital M/s G Nine Modular and M/s G Trade ITA Nos. 3212 to 3214 and 3247/M/2022 proceedings

ACIT CENTRAL CIRCLE-2(1), MUMBAI vs. M/S. G NINE MODULAR PVT. LTD., MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

68 of the Act. The Ld. DR submitted that in the case of the assessee assessee assessee along along along with with with search search search action, action, action, simultaneous simultaneous simultaneous survey survey survey M/s G Nine Modular and M/s G Trade Capital M/s G Nine Modular and M/s G Trade ITA Nos. 3212 to 3214 and 3247/M/2022 proceedings

ACIT CENTRAL CIRCLE-2(1), MUMBAI vs. M/S. G NINE MODULAR PVT. LTD., MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

68 of the Act. The Ld. DR submitted that in the case of the assessee assessee assessee along along along with with with search search search action, action, action, simultaneous simultaneous simultaneous survey survey survey M/s G Nine Modular and M/s G Trade Capital M/s G Nine Modular and M/s G Trade ITA Nos. 3212 to 3214 and 3247/M/2022 proceedings

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 ()

133A of the Act on 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that assessee issued shares at huge premium to various issued shares at huge premium to various share applicant issued shares at huge premium to various companies. The Investigation Wing

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 ()

133A of the Act on 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that 21.11.2013. During survey action it was observed that assessee issued shares at huge premium to various issued shares at huge premium to various share applicant issued shares at huge premium to various companies. The Investigation Wing

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

Section 68 of the I.T. Act which assessee has failed to do so. Without fulfillment of the onus cast u/s. 68 of the I.T. Act, the CIT(A) has allowed relief to the assessee which is prejudicial to the interest of revenue. In view of the discussion in the pre paragraphs it is humbly requested that the order

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

Section 68 of the I.T. Act which assessee has failed to do so. Without fulfillment of the onus cast u/s. 68 of the I.T. Act, the CIT(A) has allowed relief to the assessee which is prejudicial to the interest of revenue. In view of the discussion in the pre paragraphs it is humbly requested that the order

DY CIT CC 1(4) , MUMBAI vs. M/S HEMADARI MACHINE TOOLS PVT LTD., MUMBAI

Bench: Shri Rajesh Kumar () & Shri Ravish Sood () Dy. Commissioner Of Income-Tax M/S Hemadari Machine Tools Central Circle -1 (4), Vs. Pvt. Ltd., Podar Centre, 85 Room No. 902, 9Th Floor, Parel Post Office Lane, Off Pratishtha Bhavan, Dr. Ambedkar Road, Parel, Old Cgo Bldg, (Annexe), Mumbai – 400 012 M.K. Road, Mumbai – 400 020

survey action conducted against them u/s 133A of the Act on 11/12.01.2018, therefore, as the A.O is not authorised to administer oath and record a sworn statement u/s 133A of the Act, hence, the said statements did not carry any evidentiary value. Our aforesaid views is fortified by the judgment of the Hon‟ble High Court of Kerala

SWASTIK REALTORS,MUMBAI vs. ASST CIT 15(3), MUMBAI

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.800/Mum/2012 & 6314/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08 & 2008-09) Swastik Realtors The Assistant बनाम/ 312, Swastik Disha Commissioner Of Income V. Corporate Park , Kohinoor Tax – 15(3), Textile Printing Compound Matru Mandir I T Office Opp. Shreyas Cinema, Lbs Nana Chowk Marg, Ghatkopar(W) Grant Road Mumbai-400 086 Mumbai. "थायी लेखा सं./Pan : Abafs2576A (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

survey was conducted u/s. 133A of the Act in the case of Moxdiam on 07-07-2008 wherein statements were recorded on oath u/s 131 of the Act of the partners wherein they admitted that Moxdiam is engaged in providing accommodation entries. The Ld DR drew our attention to the statement on oath recorded of Mr. Nitesh T. Jain u/s

SWASTIK REALTORS,MUMBAI vs. A.C.I.T.15(3), MUMBAI

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.800/Mum/2012 & 6314/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08 & 2008-09) Swastik Realtors The Assistant बनाम/ 312, Swastik Disha Commissioner Of Income V. Corporate Park , Kohinoor Tax – 15(3), Textile Printing Compound Matru Mandir I T Office Opp. Shreyas Cinema, Lbs Nana Chowk Marg, Ghatkopar(W) Grant Road Mumbai-400 086 Mumbai. "थायी लेखा सं./Pan : Abafs2576A (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

survey was conducted u/s. 133A of the Act in the case of Moxdiam on 07-07-2008 wherein statements were recorded on oath u/s 131 of the Act of the partners wherein they admitted that Moxdiam is engaged in providing accommodation entries. The Ld DR drew our attention to the statement on oath recorded of Mr. Nitesh T. Jain u/s

DCIT, CIRCLE-2(1)(1), MUMBAI, MUMBAI vs. M/S KUNDAN JEWELLERS PVT LTD , MUMBAI.

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadaledcit, Circle – 2(1)(1) Vs. M/S. Kundan Jewellers Room No. 561, 5Th Floor Pvt Ltd Aayakar Bhavan, Mk 223, Sm Patil Bldg, Sv Road, Mumbai – 400 020 Road, Andheri (W), Mumbai – 400058. Pan/Gir No. : Aabck5770H Appellant .. Respondent Appellant By : Mr.Nihar Ranjan Samal.Dr Respondent By : Mr.Siddharth Kothari.Ar Date Of Hearing 19.05.2023 Date Of Pronouncement 29 .05.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The National Faceless Appeal Centre (Nfac)/Cit(A), Delhi Passed U/S 143(3) & 250 Of The Act. The Revenue Has Raised The Following Grounds Of Appeal:

u/s 68 of the IT Act read with section 115BBE of the Income Tax Act, 1961. The AO just made two observation while passing the order: 1. Assessee has neither furnished the details of the parties, name and address 2. Assessee has not carried out any cash sales and the assessee was in possession of unexplained cash credits and since

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

In the result, the appeal by the assessee is partly allowed, while the\nappeal by the Revenue is dismissed

133A of the Act\nwere also carried out at the branch offices of the assessee at Ahmedabad,\nChennai, and Hyderabad. In response to the notice issued under section 153A\nof the Act, the assessee filed its return of income on 02/10/2018 declaring a\nloss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well as\nnotice under

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

133A of the Act\nwere also carried out at the branch offices of the assessee at Ahmedabad,\nChennai, and Hyderabad. In response to the notice issued under section 153A\nof the Act, the assessee filed its return of income on 02/10/2018 declaring a\nloss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well as\nnotice under

SHRI RENUKAMATA MULTI-STATE CO-OPERATIVE URBAN SOCIETY LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(4), MUMBAI

133A of the Act\nwere also carried out at the branch offices of the assessee at Ahmedabad,\nChennai, and Hyderabad. In response to the notice issued under section 153A\nof the Act, the assessee filed its return of income on 02/10/2018 declaring a\nloss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well as\nnotice under

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

133A of the Act\nwere also carried out at the branch offices of the assessee at Ahmedabad,\nChennai, and Hyderabad. In response to the notice issued under section 153A\nof the Act, the assessee filed its return of income on 02/10/2018 declaring a\nloss of Rs.2,62,66,952. Thereafter, notice under section 143(2) as well as\nnotice under

DCIT CENTRAL CIR-8(4), MUMBAI vs. M/S.ACRO EXPORTS TRADE PRIVATE LIMITED, MUMBAI

In the result, appeal filed by the revenue is dismissed and cross objection filed by the assessee is also dismissed

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Acro Exports Trade Room No. 658, 6Th Floor Pvt.Ltd. 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road Mumbai-400 020 37-40 Subash Road Vile Parle(E) Mumbai-400 057

133A of the I.T.Act, 1961 was conducted in Sunteck group of companies. During the course of survey, statement u/s 131 of the I.T.Act, 1961 was recorded from shri Kamal khetan, the main promoter of Sunteck group of company. In the statement, shri Kamal khetan, while replying to question No. 18 he had offered an amount of Rs. 46.6 crores

DCIT, CENTRAL CIR-8(4), MUMBAI vs. M/S. AMAZON METALS PRIVATE LIMITED, MUMBAI

In the result, appeal filed by the revenue is dismissed and cross objection filed by the assessee is also dismissed

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Acro Exports Trade Room No. 658, 6Th Floor Pvt.Ltd. 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road Mumbai-400 020 37-40 Subash Road Vile Parle(E) Mumbai-400 057

133A of the I.T.Act, 1961 was conducted in Sunteck group of companies. During the course of survey, statement u/s 131 of the I.T.Act, 1961 was recorded from shri Kamal khetan, the main promoter of Sunteck group of company. In the statement, shri Kamal khetan, while replying to question No. 18 he had offered an amount of Rs. 46.6 crores