1. ITO v. Spearhead Properties (P) Ltd.

Rameti Devi Jain, Mumbai vs. DCIT Cen Cir 39, Mumbai

In the result, the appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2010-11 Rameti Devi Jain, 82, The Assistant Commissioner Maker Chambers Iii, Of Income Tax, Central Circle Vs. Nariman Point, Mumbai- 6(4), Air Building, 19Th Floor, 400021. Mumbai-400021. Pan No. Aabpj1887B Appellant Respondent Assessee By : None Revenue By : Mr. Chaitanya Anjaria, Dr Date Of Hearing : 09/05/2019 Date Of Pronouncement: 27/05/2019

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC” MUMBAI BEFORE SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2010-11 Rameti Devi Jain, 82, The Assistant Commissioner Maker Chambers III, of Income Tax, Central Circle Vs. Nariman Point, Mumbai- 6(4), Air Building, 19th floor, 400021. Mumbai-400021. PAN No. AABPJ1887B Appellant Respondent Assessee by : None Revenue by : Mr. Chaitanya Anjaria, DR Date of Hearing : 09/05/2019 Date of pronouncement: 27/05/2019 ORDER PER N.K. PRADHAN, A.M. This is an appeal filed by the assessee. The relevant assessment year…

Harsh Anand Jain, Mumbai vs. DCIT Cen Cir 39, Mumbai

In the result, both the appeals by the assessee and Revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Shri Harsh Anand Jain Vs. The Deputy Commissioner 82, Maker Chambers Iii Of Income Tax, Central Nariman Point Circle-39, Room No.32(1), Mumbai – 400 021 Aayakar Bhavan, Mumbai - 400020 Pan/Gir No.Afbpj0984J Appellant) .. Respondent) The Deputy Commissioner Vs. Shri Harsh Anand Jain Of Income Tax, Central 82, Maker Chambers Iii Circle-39, Room No.32(1), Nariman Point Aayakar Bhavan, Mumbai – 400 021 Mumbai - 400020 Pan/Gir No.Afbpj0984J Appellant) .. Respondent) Assessee By Shri Anuj Kisnadwala Revenue By Shri Omi Ningshen

…ng cases wherein it has been held that the annual letting value as determined by the municipal authorities is only one of the factors and the same can be ignored if it does not reflect the true ALV. These decision are: i. ITO Vs. Spearhead Properties (P) Ltd. 46 SOT 208 ii. Tivoli Investment and Trading company Pvt. Ltd. Vs. AICT 130 ITD 521 iii. ITO Vs. Hansa motors Works 46 SOT 160. (2) "Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) was justified in holding that determination of ALV of House property at Rs.1,71,94,824/- is not correct and same cannot be exceed Rs.12,96,463…

Satypal Jaikumar Jain, Mumbai vs. DCIT Cen Cir 39, Mumbai

The appeal of the assessee is allowed and the

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2010-11 Acit, Satyapal Jaikumar Jain, Cc-39, R. No.32(1), 82, Maker Chambers-Iii, बनाम/ Ground Floor, Nariman Point, Vs. Aayakar Bhavan, Mumbai-400021 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aabpj1888Q Assessment Year: 2010-11 Satyapal Jaikumar Jain, Acit, 82, Maker Chambers-Iii, Cc-39, R. No.32(1), बनाम/ Nariman Point, Ground Floor, Vs. Mumbai-400021 Aayakar Bhavan, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aabpj1888Q

…ing cases wherein it has been held that the annual letting value as determined by the municipal authorities is only one of the facts and the same can be ignored if it does not reflect the true ALV. These decisions are: 1. ITO vs. Spearhead Properties (P) Ltd. 46 SOT 208 2. Tivoli Investment and Trading company Pvt Ltd vs. ACIT 130 ITD 521 3. ITO vs. Hansa motor works 46 SOT 160 ITA Nos.3831 & 3965/Mum/2014 11 Satyapal Jaikumar Jain 2. Whether on the facts and in the circumstances of the case and in law, the Ld CIT (A) was justified in holding that the determination of ALV of House property of Rs.1,65,51,632/- (…

ACIT CC 39, Mumbai vs. Satypal Jain, Mumbai

The appeal of the assessee is allowed and the

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2010-11 Acit, Satyapal Jaikumar Jain, Cc-39, R. No.32(1), 82, Maker Chambers-Iii, बनाम/ Ground Floor, Nariman Point, Vs. Aayakar Bhavan, Mumbai-400021 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aabpj1888Q Assessment Year: 2010-11 Satyapal Jaikumar Jain, Acit, 82, Maker Chambers-Iii, Cc-39, R. No.32(1), बनाम/ Nariman Point, Ground Floor, Vs. Mumbai-400021 Aayakar Bhavan, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aabpj1888Q

…ing cases wherein it has been held that the annual letting value as determined by the municipal authorities is only one of the facts and the same can be ignored if it does not reflect the true ALV. These decisions are: 1. ITO vs. Spearhead Properties (P) Ltd. 46 SOT 208 2. Tivoli Investment and Trading company Pvt Ltd vs. ACIT 130 ITD 521 3. ITO vs. Hansa motor works 46 SOT 160 ITA Nos.3831 & 3965/Mum/2014 11 Satyapal Jaikumar Jain 2. Whether on the facts and in the circumstances of the case and in law, the Ld CIT (A) was justified in holding that the determination of ALV of House property of Rs.1,65,51,632/- (…

ACIT CC 39, Mumbai vs. Laxmi Satyapal Jain, Mumbai

Appeal of the assessee is allowed

…ing cases wherein it has been held that the annual letting value as determined by the municipal authorities is only one of the facts and the same can be ignored if it does not reflect the true ALV. These decisions are: 1. ITO vs. Spearhead Properties (P) Ltd. 46 SOT 208 2. Tivoli Investment and Trading company Pvt Ltd vs. ACIT 130 ITD 521 3. ITO vs. Hansa motor works 46 SOT 160 2. Whether on the facts and in the circumstances of the case and in law, the Ld CIT (A) was justified in holding that the determination of ALV of House property of Rs.1,65,51,632/- (3,94,508 + 1,61,57,124) jis not correct and same cannot b…