13 Taxmann 15 (Mumbai) (2011) (2) Pradeep Kumar Harlalka v. ACIT

47 SOT 204Income Tax Appellate Tribunal#20935 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2016 to 2020.

Judgments citing 13 Taxmann 15 (Mumbai) (2011) (2) Pradeep Kumar Harlalka v. ACIT

Amol Capital Markets Pvt. Ltd, Mumbai vs. ITO 4(1)(1), Mumbai

In the result, appeal filed by the assessee for assessment year 2013-2014

ITA 1503/MUM/2019[2013-14]Status: DisposedITAT Mumbai20 May 2020AY 2013-14

Bench: Shri Rajesh Kumar (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2013-14 Amol Capital Market Pvt. Ltd., The Dcit-4(1)(1), A-106, Motalibai Wadia Bldg, Room No. 636, Aaykar Bhavan, 22-D Sa Brelvi Street, Road, M.K. Road, Fort, Mumbai - 400001 Vs. Mumbai - 400020 Pan: Aadcs8022N (Appellant) (Respondent)

For Appellant: Shri Venugopal Nair (AR)For Respondent: Shri Michael Jerald (DR)
Section 143Section 14ASection 43Section 73

…and sale of shares, therefore, the loss on account of derivatives cannot be treated as a „Speculation loss‟. We further find that a similar view had been taken by the coordinate bench of ITAT, Mumbai in the case of Pradeep Kumar Harlalka Vs. ACIT, reported as 47 SOT 204 (Mum ). 15. We find ourselves to be in agreement with the contentions raised before us by the ld A.R. that F&O transactions cannot be categorized as speculative transactions in light of post amended Sec. 45(5)(d). However, we find substantial force in the view arrived at by the CIT(A) that as Clause (d) of Sec. 43(5) r.w. Explanation1(i) contempla…

Dr. Narendra D. Desai, Mumbai vs. ACIT Crn Cir 34, Mumbai

In the result, all appeals of assessee are dismissed

ITA 5159/MUM/2010[2008-09]Status: DisposedITAT Mumbai11 May 2016AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita No.5157 To 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 To 2008-09) Dr. Narendra D. Desai, Vs. Acit, Cc-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aacpd 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By Shri N.P.Singh : सुनवाई की तायीख / Date Of Hearing : 31/03/2016 घोषणा की तायीख/Date Of Pronouncement 11/05/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Assessee Against The Order Of Cit(A)-Mumbai, For The Assessment Years 2006-07 To 2008-09, In The Matter Of Order Passed U/S.143(3) R.W.S.153A Of The Act. 2. Common Grievance Of The Assessee In All The Years Pertains To Disallowance Of Claim Of Management Fees While Computing Short Term Capital Gain U/S.48 Of The I.T.Act. 3. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That Assessee Is An Individual, Shown Income Under The Head Short Term Capital Gain. While Computing The Same Assessee Has Claimed

For Appellant: Shri Vijay Mehta
Section 143(3)Section 48Section 55

…lowing judicial pronouncements were placed before us in support of the impugned disallowance: (1) Devendra Motilal Kothari vs. DCIT pronounced on 26/03/2010 reported in 13 Taxmann 15 (Mumbai) (2011) (2) Pradeep Kumar Harlalka vs. ACIT pronounced on 10/08/2011 47 SOT 204 (Mum) (2011) (3) Homi K. Bhabha vs. ITA pronounced on 28/09/2011 48 SOT 102 (Mum) (2011 ). It was submitted that the Tribunal in the above three cases after analyzing the issue and dealing with the various aspects of the issue u/s. 48 have sustained the disallowance as the portfolio management fees is not found to be 'only and exclusively' in conn…

Dr. Narendra D. Desai, Mumbai vs. ACIT Crn Cir 34, Mumbai

In the result, all appeals of assessee are dismissed

ITA 5158/MUM/2010[2007-08]Status: DisposedITAT Mumbai11 May 2016AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita No.5157 To 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 To 2008-09) Dr. Narendra D. Desai, Vs. Acit, Cc-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aacpd 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By Shri N.P.Singh : सुनवाई की तायीख / Date Of Hearing : 31/03/2016 घोषणा की तायीख/Date Of Pronouncement 11/05/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Assessee Against The Order Of Cit(A)-Mumbai, For The Assessment Years 2006-07 To 2008-09, In The Matter Of Order Passed U/S.143(3) R.W.S.153A Of The Act. 2. Common Grievance Of The Assessee In All The Years Pertains To Disallowance Of Claim Of Management Fees While Computing Short Term Capital Gain U/S.48 Of The I.T.Act. 3. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That Assessee Is An Individual, Shown Income Under The Head Short Term Capital Gain. While Computing The Same Assessee Has Claimed

For Appellant: Shri Vijay Mehta
Section 143(3)Section 48Section 55

…lowing judicial pronouncements were placed before us in support of the impugned disallowance: (1) Devendra Motilal Kothari vs. DCIT pronounced on 26/03/2010 reported in 13 Taxmann 15 (Mumbai) (2011) (2) Pradeep Kumar Harlalka vs. ACIT pronounced on 10/08/2011 47 SOT 204 (Mum) (2011) (3) Homi K. Bhabha vs. ITA pronounced on 28/09/2011 48 SOT 102 (Mum) (2011 ). It was submitted that the Tribunal in the above three cases after analyzing the issue and dealing with the various aspects of the issue u/s. 48 have sustained the disallowance as the portfolio management fees is not found to be 'only and exclusively' in conn…

Dr. Narendra D. Desai, Mumbai vs. ACIT Crn Cir 34, Mumbai

In the result, all appeals of assessee are dismissed

ITA 5157/MUM/2010[2006-07]Status: DisposedITAT Mumbai11 May 2016AY 2006-07

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita No.5157 To 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 To 2008-09) Dr. Narendra D. Desai, Vs. Acit, Cc-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aacpd 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By Shri N.P.Singh : सुनवाई की तायीख / Date Of Hearing : 31/03/2016 घोषणा की तायीख/Date Of Pronouncement 11/05/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Assessee Against The Order Of Cit(A)-Mumbai, For The Assessment Years 2006-07 To 2008-09, In The Matter Of Order Passed U/S.143(3) R.W.S.153A Of The Act. 2. Common Grievance Of The Assessee In All The Years Pertains To Disallowance Of Claim Of Management Fees While Computing Short Term Capital Gain U/S.48 Of The I.T.Act. 3. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That Assessee Is An Individual, Shown Income Under The Head Short Term Capital Gain. While Computing The Same Assessee Has Claimed

For Appellant: Shri Vijay Mehta
Section 143(3)Section 48Section 55

…lowing judicial pronouncements were placed before us in support of the impugned disallowance: (1) Devendra Motilal Kothari vs. DCIT pronounced on 26/03/2010 reported in 13 Taxmann 15 (Mumbai) (2011) (2) Pradeep Kumar Harlalka vs. ACIT pronounced on 10/08/2011 47 SOT 204 (Mum) (2011) (3) Homi K. Bhabha vs. ITA pronounced on 28/09/2011 48 SOT 102 (Mum) (2011 ). It was submitted that the Tribunal in the above three cases after analyzing the issue and dealing with the various aspects of the issue u/s. 48 have sustained the disallowance as the portfolio management fees is not found to be 'only and exclusively' in conn…