TaxTMI 
TaxTMI 
TaxTMI 
2016 (10) TMI 1390
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....e Tax (Appeal) 40 Mumbai [hereinafter referred to as the "CIT(A)"] relevant to the A.Y.2003-04, 2004-05, 2005-06, 2006-07, 2007-08, 2008-09 & 2009-10. These appeals and cross objections are being taken up together for adjudication being the parties are the same and the matter of controversy is also same which can conveniently be adjudicated by a single order. ITA NO.4291/M/2012 (A.Y.2003-04):- 2. The revenue has raised the following grounds:- "1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the disallowance of foreign travel expenses of directors at Rs. 8,82,089/- as the Assessee by: Shri J.D.Mistry & Satish Mody Department by: Shri H.M. Wanare same were not incurred wholly and exclusive....
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....Managing Director of M/s. Simplex Reality Ltd. The allegation against this group was not offering full income for taxation, books of accounts are manipulated by recording lower sales proceeds / inflating expenses, the land property and other assets owned by the group are either not declared or under declared in the books, large sums of unaccounted cash in accepting by showing sale agreements at lower price and Shri Nandan Damani has spent large sums of unaccounted cash in reconstructing of his bungalow at Cuffe Parade and on the interiors. During the course of Search action various incriminating documents / books of account etc., were found and seized. 4. The search and seizure action u/s.132 of the Act was also conducted at the assessee's....
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....ee. After being giving proper opportunity of being heard, the assessment of the assessee was completed by declaring the loss to the tune of (-)Rs.1,70,80,931/-. Thereafter the assessee filed an appeal before the CIT(A) who partly allowed the appeal, therefore the revenue has filed the present appeal before us. However, the assessee has also filed the Cross objection by raising the question of validity of the assessment u/s.153A of the Act. 6. Under the issues raised by the assessee in his Cross Objection, the assessee has raised the question of the validity of order passed u/s.153A of the Act. However, on the other hand the learned departmental representative has refuted the said contention and argued that the Cross Objection has been file....
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....e learned representative of the department has strongly relied upon the finding of the CIT(A) in question. Before going further it is necessary to advert the contents of the letter on record:- To, 31st December 2010 The DCIT (OSD)-I Mumbai Sub:- Approval u/s.153D of draft order u/s.143(3) r.w.s.153A In the case of M/s. Simplex Realty Ltd. for A.Y.2009-10 Ref: No. DCIT(OSD)-I/CR-7/Appr./2010-11 dated 31.12.2010 As per this office letter dated 20.12.2010, the Assessing Officers were asked to submit the draft orders for approval u/s.153D on or before 24.12.2010. However, this draft order has been submitted on 31.12.2010. Hence there is no much time left to analyze the issues of draft order on merit. Therefore, the draft order is bein....
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.....2003-04, we have ordered to set aside the assessment u/s. 153A of the Act on the legal issues, therefore we set aside the assessment u/s.153A of the Act in the said assessment year. Accordingly the all the above mentioned appeals of the revenue are hereby ordered to be Dismissed. ITA NO.3829 to 3830/M/2012 (A.Y.2008-09 TO 2009-10): 11. In both these assessee's appeals the brief facts of the cases are the same as mentioned in ITA 4291/Mum/2012, however the figure is quite different. While deciding the ITA No.4291/Mum/2013 for the A.Y.2003-04, we have ordered to set aside the assessment u/s. 153A of the Act on the legal issues, therefore we set aside the assessment u/s.153A of the Act in the said assessment year. Accordingly the both the ....