DCIT CEN CIR 44, MUMBAI vs. SHASHIKIRAN SHETTY, MUMBAI

In the result, the appeals filed by the assessee in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 5813/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) Shashikiran Shetty, Dcit, Cen. Cir. 44, बनाम/ 5 Th Floor, Diamond Square, Aayakar Bhavan, V. Cst Road Kalina, M.K. Road, Santacruz (East), Mumbai – 400 020. Mumbai – 400 098. "थायी लेखा सं./Pan : Ameps 5601 B (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

undisclosed income of un-accounted cash of Rs. 35 lacs paid to Maskar family towards purchase of Nagpur Land with a view to buy peace with the Revenue and not to litigate the matter any further. It was submitted that at the time of filing of return of income u/s. 153A of the Act with the Revenue ITA 5813/Mum/2013

SHASHIKIRAN SHETTY,MUMBAI vs. DCIT CEN CIR 44, MUMBAI

In the result, the appeals filed by the assessee in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 5813/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) Shashikiran Shetty, Dcit, Cen. Cir. 44, बनाम/ 5 Th Floor, Diamond Square, Aayakar Bhavan, V. Cst Road Kalina, M.K. Road, Santacruz (East), Mumbai – 400 020. Mumbai – 400 098. "थायी लेखा सं./Pan : Ameps 5601 B (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

undisclosed income of un-accounted cash of Rs. 35 lacs paid to Maskar family towards purchase of Nagpur Land with a view to buy peace with the Revenue and not to litigate the matter any further. It was submitted that at the time of filing of return of income u/s. 153A of the Act with the Revenue ITA 5813/Mum/2013

LANXESS INDIA P.LTD,THANE vs. ASST CIT CIR 1, THANE

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2009-10 Lanxess India Private Limited, Asst. Commissioner Of Income-Tax, Lanxess House, Plot No. 162-164, Circle 1, Road No. 27, Wagle Estate, Opp. Iti Vs. 6Th Floor, Asher It Park, Road No. College, Midc, 16-Z, Wagle Industrial Estate, Thane-(West)-400604. Thane. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2009-10 Asst. Commissioner Of Income-Tax, Lanxess India Private Limited, Circle 1, Lanxess House, Plot No. 162-164, 6Th Floor, Asher It Park, Road No. 16- Vs. Road No. 27, Wagle Estate, Opp. Iti Z, Wagle Industrial Estate, College, Midc, Thane. Thane-(West)-400604 Pan No. Aaccb 3880 A Appellant Respondent

price of sales i.e. export of finished goods length price of sales i.e. export of finished goods length price of sales i.e. export of finished goods was under determination and therefore same was under determination and therefore same cannot be taken as cannot be taken as numerator for profit level indicator. The numerator for profit level indicator

ACIT CIR 1, THANE vs. LANXESS INDIA P.LTD, THANE

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2009-10 Lanxess India Private Limited, Asst. Commissioner Of Income-Tax, Lanxess House, Plot No. 162-164, Circle 1, Road No. 27, Wagle Estate, Opp. Iti Vs. 6Th Floor, Asher It Park, Road No. College, Midc, 16-Z, Wagle Industrial Estate, Thane-(West)-400604. Thane. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2009-10 Asst. Commissioner Of Income-Tax, Lanxess India Private Limited, Circle 1, Lanxess House, Plot No. 162-164, 6Th Floor, Asher It Park, Road No. 16- Vs. Road No. 27, Wagle Estate, Opp. Iti Z, Wagle Industrial Estate, College, Midc, Thane. Thane-(West)-400604 Pan No. Aaccb 3880 A Appellant Respondent

price of sales i.e. export of finished goods length price of sales i.e. export of finished goods length price of sales i.e. export of finished goods was under determination and therefore same was under determination and therefore same cannot be taken as cannot be taken as numerator for profit level indicator. The numerator for profit level indicator

DCIT CC 7(4), MUMBAI vs. PODDAR RENAISSANCE REALITY PVT LTD (NOW KNOWN AS IMPERIAL RENAISSAICE RENIASANCE REALITY PVT. LTD), MUMBAI

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

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhaildcit, Cc-7(4), Mumbai V/S. Poddar Renaissance Reality Room No. 659, Aaykar बनाम Pvt. Ltd. (Now Known As Bhavan, M.K. Road, Imperial Renaissance Mumbai-400020 Renaissance Reality Pvt. Ltd.) 501/601, Aqua Marine, Carter Road, Mumbai-400050030 "थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aagcp2657R Appellant/अपीलाथ" .. Respondent/"ितवादी

price of these two flats. Accordingly, from the said commission amount and rate, it Accordingly, from the said commission amount and rate, it was worked out that the was worked out that the total value of the flats so purchased was at Rs. 15,00,00,000/ total value of the flats so purchased

MACROTECH DEVELOPERS LTD.(SUCCESSOR TO BELLISSIMO CROWN BUILDMART PVT LTD.,,MUMBAI vs. DCIT CENTRAL CIRCLE 7(3), MUMBAI

The appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

undisclosed income of Rs. 85,00,000/-. The tax was charged as prescribed in section 113 of the Act. Subsequently, a proviso was inserted u/s 113 by the Finance Act, 2002 w.e.f. 01 -06-2002 to provide for levy of surcharge at 10%. The A.O took the view that the said amendment was clarificatory in nature

MACROTECH DEVELOPRS LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 7(3), MUMBAI

The appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

undisclosed income of Rs. 85,00,000/-. The tax was charged as prescribed in section 113 of the Act. Subsequently, a proviso was inserted u/s 113 by the Finance Act, 2002 w.e.f. 01 -06-2002 to provide for levy of surcharge at 10%. The A.O took the view that the said amendment was clarificatory in nature

SABRE TRAVEL NETWORK (INDIA) P.LTD,MUMBAI vs. DCIT 8(1)(2), MUMBAI

In the result, appeal of the assessee is partly allowed

Transfer Pricing Officer also acknowledges that the functionality of this company, in a way, is different from the assessee. Thus, on consideration of facts on record it emerges that this company is not providing marketing support services like the assessee. Therefore, in our view this company cannot be considered as a comparable. The Assessing Officer is directed to exclude this

PUSHPAK AUXICHEM P. LTD,THANE vs. ITO WD 1(3), KALYAN

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 M/S Pushpak Auxichem Pvt. Income Tax Officer Ltd. Ward-1(3), बनाम/ 241/Business-2, Kasturi Mohan Plaza, 1St Floor, Vs. Plaza, 2Nd Floor, Manpada Wayle Nagar, Road, Dombivali (East), Khadak Pada, Thane-421201 Kalyan-421301 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aabcp0099E

undisclosed income, but the income or transactions referred to in the documents had been duly shown by him in his books of account or if the assessee gives any information to the effect that the first impression of the authorised officer with regard to the nature of the documents was not correct, we are sure that such a notice would

ABOTT HEALTHCARE P. LTD,MUMBAI vs. ITO WD 3(2)(1), MUMBAI

Accordingly, Ground No.2 raised by the Revenue is dismissed

Bench: Shric.N.Prasad, Jm & Shrim.Balaganesh, Am

transfer pricing adjustment is warranted in the facts of the instant case even on that count. Accordingly, Ground Nos 4.1 to 4.3 raised by the assessee are allowed. ITA No.1797/Mum/2015 :Asst. Year 2010-2011 : Assessee’s Appeal : 46. The Ground Nos.1.1 to 1.3 raised by the assessee are similar to that of Ground No.1 raised by the assessee for assessment

DCIT CIR.7(3)(1), MUMBAI vs. PJL CLOTHING INDIA LTD., MUMBAI

The appeal of the Revenue is allowed for statistical purposes

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2010 - 2011 Dcit Circle 7(3)(1) Pjl Clothing India Ltd., Mumbai बनाम/ Unit No.19, Shree Madhu Estate, Pandurang Budhakar Vs. Marg, Worli, Mumbai 400 018 (याजस्व /Revenue) (यनधाारयती /Assessee) P.A. No. Aaacp2782R

undisclosed income, but the income or transactions referred to in the documents had been duly shown by him in his books of account or if the assessee gives any information to the effect that the first impression of the authorised officer with regard to the nature of the documents was not correct, we are sure that such a notice would

GOVIND AGARWAL. HUF,MUMBAI vs. ACIT CEN CIR 32, MUMBAI

In the result, the appeals of the assessee’s are allowed in part, in terms indicated hereinabove, whereas the Revenue’s appeals are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sanjay Garg, Jm आयकर अपील सं./Ita No.4531,4566,876,877,878/Mum/2011 ("नधा"रण वष" / Assessment Years :2006-07, 2007-08, 2002-03, 2003-04 & 2005-06) Acit, Cc-32, Mumbai Vs. Manidevi Agarwal, 720, A- 1, Lok Bharti Chs Ltd., Marol Maroshi Road, Marol, Andheri(E), Mumbai- 400059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aakpa 4962 H .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.4528/Mum/2011 ("नधा"रण वष" / Assessment Years : 2007-08) Acit, Cc-32, Mumbai Vs. Shri Govind Agarwal, 701, A-1, Lok Bharti Chs Ltd., Marol Maroshi Road, Marol, Andheri(E), Mumbai- 400059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Adopa 4038 K .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.873,874/Mum/2011 ("नधा"रण वष" / Assessment Years : 2003-04 & 2004-05) Acit, Cc-32, Mumbai Vs. Shri Govind Agarwal(Huf), 720/A-5, Lok Bharti Chs Ltd., Marol Maroshi Road, Marol, Andheri(E), Mumbai- 400059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aiepa 3109 A .. (अपीलाथ" /Appellant) (""यथ" / Respondent) 876,828,4566,4547,218/11 &957/13&Co203.13

price in the A.Y. 2007-08. The CIT(A) after giving detailed finding at pg.11, para 5 and pg. 17, deleted the addition of Rs.1,72,36,462/-. The finding recorded by the CIT(A) has not been controverted. We also found that the issue is covered by ITAT order in the case of Deepak Agarwal (son of the assessee

SHRI DINESHKUMAR C. DOSHI,MUMBAI vs. INCOME TAX OFFICER 19(1)(4), MUMBAI

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh

undisclosed income under Chapter XIV-B. The expressions "on the basis of evidence found as a result of search" or "other documents and such other Dinesh S. Jain materials of information as are available with the AO and relatable to such evidence, the undisclosed income so detected as a result of search and/or as a result of other material

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

income represented by any addition made in conformity\nwith the arm's length price determined by the Transfer Pricing Officer, where the\nassessee had maintained information and documents as prescribed under\nsection 92D, declared the international transaction under Chapter X, and, disclosed all the material\nfacts relating to the transaction; and\n5. the amount of undisclosed

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

income represented by any addition\nmade in conformity with the arm's length price determined by the Transfer Pricing Officer, where the\nassessee had maintained information and documents as prescribed\nunder section 92D, declared the international transaction under\nChapter X, and, disclosed all the material facts relating to the transaction; and\n5. the amount of undisclosed

DCIT ,CC- 8(4), MUMBAI vs. ASHOK R. RUIA (HUF), MUMBAI

In the result, appeal filed by the Revenue is dismissed

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

transferred in April 2007. 28 ITA NOs. 6309/MUM/2019 (A.Y. 2008-09) M/s. Ashok R Ruia Same figures are reflected on page 99(10 of AO), 101(12),103(14),2(15),&4(17)( (Galaxy); page 100(11) ( PML) The documents also mention certain amounts against the narration 50% Sakinaka in by inflation in price 8,15,50,000: reference

LANXESS INDIA P.LTD,THANE vs. DCIT CIR 1, THANE

In the result, the present appeal is partly allowed

transfer pricing adjustment of Rs 50,80,855/- should be deleted. 3. On the facts and in the circumstances of the case and in law, the AO erred in making additions of Rs. 4,86,49,361/- under section 69C of the Act and Rs. 3,85,29,119/- as income from undisclosed

SHRI MOHAN THAKUR,MUMBAI vs. A.C.I.T. CENT. CIR. 8(4), MUMBAI

In the result, the appeal of the assessee is hereby ordered to be allowed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.7413 /Mum/2017 (ननधधारण वर्ा / Assessment Years: 2008-09) बनधम/ Shri Mohan Thakur Acit, Central Circle-8(4) 6Th Floor Aayakar Bhavan, 4, Flora Vila, 35, St. Vs. M.K. Road, Mumbai- Andrews Road, Bandra 400020. (W), Mumbai-400050. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. :Aaapt2966N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri Durga Dutt/ Akhtar H. Ansari (Dr) Assessee By: Dr. K. Shivaram सुनवाई की तारीख / Date Of Hearing: 15/11.2019 घोषणा की तारीख /Date Of Pronouncement: 09/01/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 30.10.2017 Passed By The Commissioner Of Income Tax (Appeals)-50, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2008- 09. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “The Learned Cit(A) Erred In Upholding The Validity Of Notice U/S 148 Where The Proceedings U/S 153C Had Already Been Initiated Which Were Dropped & Immediately The Reassessment Proceedings Had Been Initiated Without Any Fresh Material On Record & Hence Reopening Is Void- Ab - Initio Merit : Addition Of Rs.237.00.000/- Based On Entries In Diary Of Third Person: 2. No Addition Can Be Made Based On Entries Found In The Books In Third Party'S Premises Since No Search U/S 132 Had Taken Place On The Assessee & Hence S.132(4A) Would Not Be Applicable To The Present Facts Of The Case. In View Of The Same The Entire Addition May Be Deleted.

transfer of shares in his return of income for assessment. As such income to the tune of Rs. 2,02,10,000 (20,41,00,000 sale price-1,00,000 cost price) has thus escaped assessment for the asst. yr. 2006-07." In view of the above, we reject the contention of the learned Departmental Representative that no incriminating