INCOME TAX OFFICER - 14(3)(1), MUMBAI , MUMBAI vs. TRENDSETTER CONSTURCTIONS PVT LTD , RAJKAMAL CST ROAD KALINA MUMB

PDF · subscribers
ITA 1922/MUM/2024Status: DisposedITAT Mumbai01 August 2024AY 2017-18Bench: SHRI NARENDER KUMAR CHOUDHRY (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the appellant's own case for multiple assessment years, as well as decisions from the Mumbai High Court, have consistently held that the assessee was not engaged in real estate development but acted as a consultant, earning commission. Amounts received before project completion were considered deposits.

What were the facts?

The revenue filed an appeal against the order of the CIT(A) who allowed the assessee's appeal. The assessee company received Rs. 2,79,00,000 from M/s. A. A. Estate Pvt. Ltd. for professional and technical services, which was not offered for taxation. The AO treated this as business income and allowed expenses, adding the net amount to the assessee's income.

What were the issues?

Whether the receipts from M/s. A. A. Estate Pvt. Ltd. are to be treated as professional fees taxable as business income or as commission/deposits based on past precedents.

Which sections of the Income-tax Act were involved?

Section 194J,Section 194C,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “E”, MUMBAI

Before: SHRI NARENDER KUMAR CHOUDHRY & SHRI RATNESH NANDAN SAHAY

For Appellant: Shri Firoze B. Andhyarujina, Adv, Shri P. D. Chougule, (Addl. CIT) SR. D.R

O R D E R

Per : Ratnesh Nandan Sahay, Accountant Member:

1.

This appeal has been filed by the revenue against the Order of the Ld. CIT (Appeals) passed u/s. 250 of the Income Tax Act [the „Act‟ in short] vide DIN & Order No. ITBA/NFAC/S/250/2023-24/1061028706(1) Dated 16/02/2024 for the Assessment Year 2017-18.

2.

Following grounds of appeal have been raised:

More judgments on Section 194J

All 1,434 judgments and leading authorities on Section 194J →

Recent GST High Court judgments

Search GST case law →