142 (Bombay) and CIT v. HSBC Securities and Capital Markets India Private Limited

23 Taxmann.com 377High Court2012#8337 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Judgments citing 142 (Bombay) and CIT v. HSBC Securities and Capital Markets India Private Limited

M/S VISARIA SECURITIES PVT LTD,MUMBAI vs. ASST CIT 4 (2), MUMBAI

ITA 356/MUM/2020[2013-14]Status: DisposedITAT Mumbai23 Feb 2023AY 2013-14

Bench: Shri Kuldip Singhassessment Year: 2013-14

For Appellant: Shri Niraj Sheth, A.RFor Respondent: Shri Anil Gupta, D.R

Section 142(1)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER Assessment Year: 2013-14 M/s. Visaria Securities Pvt. The Asst. Commissioner Ltd., of Income Tax-4(2), 3-B2, CNeRGY, Range-4(2)(1), Vs. Appasaheb Marathe Marg, Aayakar Bhavan, Prabhadevi, M.K. Road, Mumbai – 400 025 Mumbai - 400020 PAN: AAACV7721L (Appellant) (Respondent) Present for: Assessee by : Shri Niraj Sheth, A.R. Revenue by : Shri Anil Gupta, D.R. Date of Hearing : 31 . 01 . 2023 Date of Pronouncement : 23 . 02 . 2023 O R D E R Per : Kuldip Singh, Judicial Member: The appellant, M/s. Visaria S…

DCIT CIR 4 (2)(1), MUMBAI vs. M/S QUANT SECURITIES PVT LTD., MUMBAI

In the result, the appeal of the revenue is dismissed

ITA 7756/MUM/2019[2014-15]Status: DisposedITAT Mumbai02 Sept 2022AY 2014-15

Section 143(3)Section 43(5)Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER DCIT, CIR 4(2)(1) Vs. M/s. Quant Securities Pvt. Room No.642, 6th Floor Ltd., 612-617, 6th Floor Aayakar Bhawan M.K.Road Maker Chamber IV Mumbai – 400 020 Nariman Point, Mumbai- 400 021 PAN/GIR No.AAACQ1648R (Appellant) .. (Respondent) Assessee by Shri Jitendra Sanghvi & Shri Amit Khatiwala Revenue by Smt. Mahita Nair Date of Hearing 25/08/2022 Date of Pronouncement 02/09/2022 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.7756/Mum/2019 for A.Y.2014-15 a…

MEGHA PROPERTY DEVELOPERS LTD,MUMBAI vs. ITO 4(2)(4), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 398/MUM/2016[2011-12]Status: DisposedITAT Mumbai19 Jun 2020AY 2011-12

Bench: Shri Mahavir Singh, Vp & Shri M.Balaganesh, Am M/S. Megha Property Vs. Ito-4(2)(4) Room No.647, 6Th Floor Developers Ltd., 701A, Niranjan Aayakar Bhavan 99, Marine Drive M.K. Road Mumbai – 400 002 Mumbai – 400 020 Pan/Gir No.Aaffm5593B (Appellant) .. (Respondent)

Section 143(3)Section 73

…eliance on the following decisions of Hon’ble Jurisdictional High Court:- a) CIT vs. Darshan Securities (P) Ltd., reported in 18 Taxmann.com 142 6 M/s. Megha Property Developers Ltd. b) CIT vs. HSBC Securities and Capital Markets India (P) Ltd., reported in 23 Taxmann.com 377 2.6. We find that the ld. DR vehemently argued before us that assessee had not filed any documentary evidences for incurrence of the aforesaid derivative loss and the manner in which such losses were worked out. We find that this argument of the ld. DR was refuted by the ld. AR by referring to the affidavit filed by the Director of the as…

DCIT 11(2)(1), MUMBAI vs. SHREE MOTHER CAPFIN AND SECURITIES P.LTD, MUMBAI

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 3903/MUM/2017[2009-10]Status: DisposedITAT Mumbai26 Jul 2019AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3903/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2009-10) The Dy. Commissioner Of बिधम/ M/S. Shree Mother Capfin Income Tax-11(2)(1) & Securities Pvt. Ltd. Vs. Room No.477, Aayakar A-11/2, S.V. Road, Shree Bhavan, M.K. Marg, Ram Nagar, Andheri (W), Mumbai-400020. Mumbai-58 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcr4418F (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Chaudhary Arun Kumar Singh (Sr. Ar) Assessee By: None सुनवाई की तारीख / Date Of Hearing: 22/07/2019 घोषणा की तारीख /Date Of Pronouncement: 26/07/2019 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2017 Passed By The Commissioner Of Income Tax (Appeals) -18, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2009- 10 In Which The Penalty Levied By Ao Has Been Ordered To Be Deleted.

For Appellant: NoneFor Respondent: Shri Chaudhary Arun Kumar

Section 143(3)Section 14ASection 271(1)(c)Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.3903/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2009-10) The Dy. Commissioner of बिधम/ M/s. Shree Mother Capfin Income Tax-11(2)(1) and Securities Pvt. Ltd. Vs. Room No.477, Aayakar A-11/2, S.V. Road, Shree Bhavan, M.K. Marg, Ram Nagar, Andheri (W), Mumbai-400020. Mumbai-58 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AABCR4418F (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri Chaudhary Arun Kumar Singh (SR. AR) Assessee by: None सुनवाई की तारीख / Date of Hearing: 22…

DCIT, NEW DELHI vs. M/S FLORA & FAUNA HOUSING AND LAND DEVELOPERS PVT. LTD.,, NEW DELHI

ITA 4191/DEL/2012[2009-10]Status: DisposedITAT Delhi22 Jul 2019AY 2009-10

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri G.C. Srivastava, AdvocateFor Respondent: Ms. Ashima Neb, Senior DR

Section 43Section 43(5)Section 43(5)(c)Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘B’ : NEW DELHI) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.4191/Del./2012 (ASSESSMENT YEAR : 2009-10) DCIT, Circle 11 (1), vs. M/s. Flora & Fauna Housing and New Delhi. Developers Pvt. Ltd., 194 – A, Pocket – C, Siddharth Extension, New Delhi – 110 014. (PAN : AABCF0441Q) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri G.C. Srivastava, Advocate Shri Suvinay K. Dash, Advocate Shri Parichay Solanki, CA REVENUE BY : Ms. Ashima Neb, Senior DR Date of Hearing : 15.07.2019 Date of Order : 22.07.2019 O R D E R PER KULDIP SINGH…

MAGIC SHARE TRADERS LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-2(1)(2), AHMEDABAD

In the result, the assessee gets relief as claimed in Ground Nos

ITA 770/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad31 Oct 2018AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr

For Appellant: Shri S. N. Soparkar, A.R

Section 14ASection 28Section 43(5)Section 73

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘C’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMEBR आयकर अपील सं./I.T.A. No. 770/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13) Magic Share Traders Ltd. बनाम/ Deputy Commissioner of 101, Akashganga Building, Income Tax Vs. Nr. Gujarat College Road, Circle-2(1)(2), 1st Floor, Navjivan Trust Ellis Bridge, Ahmedabad - 380006 Building Office, Ashram Road, Ahmedabad - 380014 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAECM9542L .. (अपीलाथ" /Appellant) (""यथ" / Respond…

AMU SHARES & SECURITIES LTD,MUMBAI vs. DCIT 4(1), MUMBAI

In the result the appeal of assessee is allowed for statistical purpose

ITA 408/MUM/2016[2009-10]Status: DisposedITAT Mumbai27 Apr 2018AY 2009-10

Bench: Shri G.S.Pannu & Shri Pawan Singh

For Respondent: Sh. Rajesh Kumar Sr DR

Section 143Section 143(3)Section 14ASection 154Section 253Section 254(1)Section 73Section 73(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “A” MUMBAI BEFORE SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No.408 /Mum/2016 (Assessment Year- 2009-10) Amu Shares & Securities Ltd. Deputy Commissioner of Crescent Chambers, Ground Income tax, 4(1) Vs. Floor, Homi Modi Street, Fort, Aayakar Bhavan, Mumbai-400020. Mumbai-4000 01. PAN: AAACA3778L (Appellant) ( Respondent) Assessee by Shri B.V. Jhaveri, B.J. Vyas, : Devang Divecha & Devershi Mehta (AR) Revenue by : Sh. Rajesh Kumar Sr DR Date of hearing : 15.02.2018 Date of Pronouncement : 27.04.2018 Order Under Section 254(1) of…

BLUEBERRY TRADING COMPANY P.LTD,MUMBAI vs. DCIT 3(1), MUMBAI

In the result, appeal filed by assessee is allowed

ITA 2388/MUM/2013[2009-10]Status: DisposedITAT Mumbai14 Mar 2018AY 2009-10

Bench: Shri B.R.Baskaran & Shri Pawan Singhblueberry Trading Company Pvt. Dcit -3(1) Ltd., 373, Konark House, Veer Aayakar Bhavan, M.K. Road, Savarkar Road, Ground Floor, Near Mumbai-20. Siddhi Vinayak Temple, Vs. Prabhadevi, Dadar (West), Mumbai-400028 Pan:Aabcb5512E (Appellant) (Respondent) Assessee By : Shri Nitesh Joshi (Ar) Revenue By : Shri Suman Kumar (Dr) Date Of Hearing : 31.01.2018 Date Of Pronouncement : 14.03.2018 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. This Appeal By Assessee Under Section 253 Of Income Tax Act Is Directed

For Appellant: Shri Nitesh Joshi (AR)For Respondent: Shri Suman Kumar (DR)

Section 253Section 254(1)Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “B”, MUMBAI BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER Blueberry Trading Company Pvt. DCIT -3(1) Ltd., 373, Konark House, Veer Aayakar Bhavan, M.K. Road, Savarkar Road, Ground Floor, Near Mumbai-20. Siddhi Vinayak Temple, Vs. Prabhadevi, Dadar (West), Mumbai-400028 PAN:AABCB5512E (Appellant) (Respondent) Assessee by : Shri Nitesh Joshi (AR) Revenue by : Shri Suman Kumar (DR) Date of hearing : 31.01.2018 Date of Pronouncement : 14.03.2018 Order Under Section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1. This a…

M/S. SOEX IN vs. T & FIN. PVT.LTD.(NOW KNOWN AS SOPARIWALA EXPORTS P.LTD.),MUMBAIVS.INCOME TAX OFFICER-WARD-3(3)(3), MUMBAI

Accordingly, the cross objection raised by the assessee is allowed

ITA 6415/MUM/2008[2003-2004]Status: DisposedITAT Mumbai27 Sept 2017AY 2003-2004

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2003-04

For Appellant: Mr. Pankaj R. Toprani, ARFor Respondent: Mr. V. Justin, DR

Section 119Section 143(3)Section 73Section 73(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2003-04 M/s Soex Investment & ITO-3(3)(3), Finance Pvt. Ltd. (Now Aaykar Bhavan, M.K. Road, Vs. known as Sopariwala Mumbai-400020. Exports P. Ltd.) 21A Nirmal, Nariman Point ,Mumbai-400021. PAN No. AACCS1620D Appellant Respondent Assessment Year: 2003-04 ITO-3(3)(3), M/s Soex Investment & Aaykar Bhavan, M.K. Road, Finance Pvt. Ltd. (Now Vs. Mumbai-400020. known as Sopariwala Exports P. Ltd.) 21A Nirmal, Nariman Point Mumbai-400021. PAN No. AACCS162…

PARADISE MERCHANTS PVT. LTD.,DELHI vs. ITO, NEW DELHI

Accordingly the appeal filed by the assessee stands partly allowed

ITA 4993/DEL/2014[2009-10]Status: DisposedITAT Delhi29 Apr 2016AY 2009-10

Bench: Shri N. K. Saini & Smt. Beena Pillai

For Appellant: Shri Ved Jain, CAFor Respondent: Shri Subhakant Sonu, Sr. DR

Section 115Section 14Section 143Section 14ASection 43(5)Section 73

…ng on with the speculative business for the purposes of section 73 (1) of the act. This view has been supported by the various judgments relied upon by the assessee which are as under; 1. CIT City 4 vs. HSBC securities and capital markets India (P) Ltd (2012) 23 Taxmann.com 377 (Bom.) 2. A.K Capital Markets Ltd. Vs. DCIT, Central Circle-2 (2016) 65 Taxman.com 62 (Delhi-TRIB.) 6. In view of the above discussion and the ratio laid down by the Hon’ble court we are inclined to allow this ground of appeal raised by the assessee. 7. Accordingly the appeal filed by the assessee stands partly allowed. Order pronounced…

DCIT 7(3), MUMBAI vs. VINARMA UNIVERSAL TRADERS P.LTD, MUMBAI

In the result, the appeal of the assessee allowed and the appeal of the Revenue is hereby dismissed

ITA 3680/MUM/2012[2008-09]Status: DisposedITAT Mumbai31 Dec 2015AY 2008-09

Bench: Shri B.R. Baskaran & Shri Sanjay Gargassessment Year: 2008-09 M/S. Vinamra Universal Dy. Commissioner Of Income Traders Pvt. Ltd., Tax, Circle-7(3), Jai Centre, 1St Floor, Mumbai - 400020 Vs. 34 P.D’ Mello Road, Opp: Red Gate, Mumbai – 400 009 Pan: Aaccv5090J (Appellant) (Respondent) Assessment Year: 2008-09 Asstt. Commissioner Of Income M/S. Vinamra Universal Tax, Circle-7(3), Traders Pvt. Ltd., Room No.615, 6Th Floor, Jai Centre, 1St Floor, Vs. Aayakar Bhavan, 34 P.D’ Mello Road, M.K. Road, Opp: Red Gate, Mumbai - 400020 Mumbai – 400 009 Pan: Aaccv5090J (Appellant) (Respondent) Present For: Assessee By : Shri S.D. Mistry, A.R. Revenue By : Shri G.M. Doss, D.R. Date Of Hearing : 29.10.2015 Date Of Pronouncement : 31.12.2015

For Appellant: Shri S.D. Mistry, A.RFor Respondent: Shri G.M. Doss, D.R

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI SANJAY GARG, JUDICIAL MEMBER Assessment Year: 2008-09 M/s. Vinamra Universal Dy. Commissioner of Income Traders Pvt. Ltd., Tax, Circle-7(3), Jai Centre, 1st Floor, Mumbai - 400020 Vs. 34 P.D’ Mello Road, Opp: Red Gate, Mumbai – 400 009 PAN: AACCV5090J (Appellant) (Respondent) Assessment Year: 2008-09 Asstt. Commissioner of Income M/s. Vinamra Universal Tax, Circle-7(3), Traders Pvt. Ltd., Room No.615, 6th Floor, Jai Centre, 1st Floor, Vs. Aayakar Bhavan, 34 P.D’ mello Road, M.K. Road, Opp: Red Gat…

VINAMRA UNIVERSAL TRADERS P.LTD,MUMBAI vs. DCIT CIR 7(3), MUMBAI

In the result, the appeal of the assessee allowed and the appeal of the Revenue is hereby dismissed

ITA 3256/MUM/2012[2008-09]Status: DisposedITAT Mumbai31 Dec 2015AY 2008-09

For Appellant: Shri S.D. Mistry, A.RFor Respondent: Shri G.M. Doss, D.R

M/S. A K CAPITAL MARKETS LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

ITA 6859/DEL/2014[2006-07]Status: DisposedITAT Delhi04 Dec 2015AY 2006-07

Bench: Sh. N. K. Sainiita No. 6859/Del/2014 : Asstt. Year : 2006-07 A. K. Capital Markets Ltd., Vs Dcit, Central Circle-2, 609, 6Th Floor, Antriksh Bhawan, 22, New Delhi Kasturba Gandhi Marg, Connaught Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aadca9960D Assessee By : Sh. Ved Jain, Adv. Revenue By : Sh. Sarabhjit Singh, Dr Date Of Hearing : 16.09.2015 Date Of Pronouncement : 04.12.2015 Order

For Appellant: Sh. Ved Jain, AdvFor Respondent: Sh. Sarabhjit Singh, DR

Section 132Section 133ASection 14ASection 153ASection 43(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC-1’, NEW DELHI Before Sh. N. K. Saini, Accountant Member ITA No. 6859/Del/2014 : Asstt. Year : 2006-07 A. K. Capital Markets Ltd., Vs DCIT, Central Circle-2, 609, 6th Floor, Antriksh Bhawan, 22, New Delhi Kasturba Gandhi Marg, Connaught Place, New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AADCA9960D Assessee by : Sh. Ved Jain, Adv. Revenue by : Sh. Sarabhjit Singh, DR Date of Hearing : 16.09.2015 Date of Pronouncement : 04.12.2015 ORDER This is an appeal by the assessee against the order dated 14.11.2014 of ld. CIT(A)-XXXI, New Delhi. 2. Following grou…