ACIT v. Vireet Investment Pvt. Ltd.

Tata Industries Ltd, Mumbai vs. DCIT 2(3)(1), Mumbai

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

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

…ing “average value of investments”, the investment which did not yield exempt income should be excluded. The above said plea of the assessee finds support from the decision rendered by Delhi Special Bench of ITAT in the case of Vireet Investments P Ltd (2017)(165 ITD 37)(Delhi). Accordingly, we set aside the order passed by Ld CIT(A) on this point and direct the AO to re-compute the average value of investments as stated in the case of Vireet Investments P Ltd (supra) and accordingly re-compute the disallowance to be made u/s Rule 8D(2)(iii) of I T Rules. 7. The Ld A.R submitted that the contentions of the assess…

DCIT, CC-6(4), Mumbai vs. Anant Raj Limited, Delhi

In the result, the appeals of the revenue are dismissed

Bench: Shri Vikas Awasthy & Shri Amarjit Singhita Nos.625 & 626/Mum/2023 (A.Y. 2017-18 & 2018-19) The Dy. Commissioner Of Vs. Anant Raj Limited Income Tax, Central E-2 Ara Centre Circle-6(4), Room No. Jhandewalan Extention, 1925, 19Th Floor, Air New Delhi – 110 055 India Building, Nariman Point, Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabca3972B Appellant .. Respondent Appellant By : Sudesh Garg Respondent By : Manoj Kumar Sinha

…P a g e | 1 ITA Nos. 625 & 626/Mum/2023 The DCIT,CC-6(4) Vs. Anant Raj Limited IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.625 & 626/Mum/2023 (A.Y. 2017-18 & 2018-19) The Dy. Commissioner of Vs. Anant Raj Limited Income Tax, Central E-2 Ara Centre Circle-6(4), Room No. Jhandewalan Extention, 1925, 19th Floor, Air New Delhi – 110 055 India Building, Nariman Point, Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABCA3972B Appellant .. Respondent Appellant by : Sudesh Garg Respondent by : Manoj Kumar S…

DCIT, CC-6(4), Mumbai vs. Anant Raj Limited, Delhi

In the result, the appeals of the revenue are dismissed

Bench: Shri Vikas Awasthy & Shri Amarjit Singhita Nos.625 & 626/Mum/2023 (A.Y. 2017-18 & 2018-19) The Dy. Commissioner Of Vs. Anant Raj Limited Income Tax, Central E-2 Ara Centre Circle-6(4), Room No. Jhandewalan Extention, 1925, 19Th Floor, Air New Delhi – 110 055 India Building, Nariman Point, Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabca3972B Appellant .. Respondent Appellant By : Sudesh Garg Respondent By : Manoj Kumar Sinha

…P a g e | 1 ITA Nos. 625 & 626/Mum/2023 The DCIT,CC-6(4) Vs. Anant Raj Limited IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.625 & 626/Mum/2023 (A.Y. 2017-18 & 2018-19) The Dy. Commissioner of Vs. Anant Raj Limited Income Tax, Central E-2 Ara Centre Circle-6(4), Room No. Jhandewalan Extention, 1925, 19th Floor, Air New Delhi – 110 055 India Building, Nariman Point, Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABCA3972B Appellant .. Respondent Appellant by : Sudesh Garg Respondent by : Manoj Kumar S…

Mukta Arts Limited, Mumbai vs. ACIT 16(1), Mumbai

In the result, appeal of the assessee is allowed

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER M/s. Mukta Arts Ltd Vs. ACIT 16(1) Mukta House 4th Floor, Aayakar 3rd Floor, Bhavan, Film city Complex, Mumbai – 400 020 Mumbai-400 065 PAN/GIR No.AAACM9513F (Appellant) .. (Respondent) Assessee by Dr.K.Shivaram Revenue by Shri Manoj Kumar Singh Date of Hearing 16/05/2023 Date of 19/05/2023 Pronouncement आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against the order dated 20/02/2023, passed by NFAC, Delhi for the quantum of asses…

Multi -Act Trade & Investments Pvt Ltd, Mumbai vs. ITO WD 2(2)(3), Mumbai

In the result, appeal of the assessee is allowed

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER M/s. Multi-Act Trade & Vs. The Income Tax Officer- Investments Pvt. Ltd. Ward 2(2)(3) Ground Floor Room No.542, 5th Floor ICC Chambers I Aayakar Bhavan Saki Vihar Road M.K.Road, Powai, Mumbai-400 020 Mumbai-400 072 PAN/GIR No.AABCM0157E (Appellant) .. (Respondent) Assessee by Shri Satish R Mody Revenue by Ms. Mahita Nair Date of Hearing 27/04/2023 Date of Pronouncement 27/04/2023 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against…