Ahmedabad Electricity Co. Ltd. v. CIT

Ritu Chaudhry D/O Surendra Pal Chaudhry, Mumbai vs. ITO 11(1)(3), Mumbai

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

Bench: Shri Saktijit Dey() & Shri N.K. Pradhan ()

…the assessment fall in the realm legal grounds which go to the root of the matter and relying on the decision in the case of Jute Corporation of India Ltd. vs. CIT 187 ITR 688 (SC); CIT vs. NTPC Ltd. 229 ITR 383 (SC) and Ahmedabad Electricity Co. Ltd. vs. CIT 199 ITR 351 (Bom), we admit the additional grounds. 6. As the additional ground raised by the assessee has a bearing on the issue at hand, we shall discuss it first. We have gone through the assessment order passed by the AO u/s 143(3) r.w.s. 147 of the Act on 28.12.2011. We find that the AO has not mentioned in the assessment order reasons for reopening. D…

Imtiyaz Amirullah Khan, Mumbai vs. ITO 17(2)(4), Mumbai

In the result, the assessee’s appeal is allowed on the aforesaid terms

Bench: Shri Sanjay Arora, Am & Shri Amarjit Singh, Jm आयकर अपील सं./I.T.A. No. 2018/Mum/2016 ("नधा"रण वष" / Assessment Year: 2010-11) Imtiyaz Amirullah Khan Ito-17(2)(4), Gr. Floor, R. No. 1A, Mumbai बनाम/ Near Municiple Market, Ch-011, Vs. Gate No. 6, Sewree Cross Road, Wadala, Mumbai-400 031 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Azpk 9500 G (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Shekhar Gupta ""यथ" क" ओर से/Respondent By : Dr. Suman Ratnam Darsi सुनवाई क" तार"ख / : 04.8.2016 Date Of Hearing घोषणा क" तार"ख / : 26.8.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: This Is An Appeal By The Assessee Directed Against The Order By The Commissioner Of Income Tax (Appeals)-32, Mumbai (‘Cit(A)’ For Short) Dated 18.2.2016, Dismissing The Assessee’S Appeal Contesting Its Assessment U/S.143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) For The Assessment Year (A.Y.) 2010- 11 Vide Order Dated 20.3.2013. 2. The Sole Issue Arising In The Instant Case Is The Extent Of Income Liable To Be Brought To Tax Against Undisclosed Cash Deposits In The Assessee’S Bank Account With Icici Bank, Bandra Kurla Complex, Mumbai (Account Number 087401500061).

…es as permissible in law. Lest we be considered as having travelled outside the scope of this appeal, we may advert to the decisions, inter alia, in the case of Kapurchand Shrimal v. CIT [1981] 131 ITR 451 (SC) and Ahmedabad Electricity Co. Ltd. v. CIT [1993] 199 ITR 351 (Bom)(FB). We decide accordingly. 5 Imtiyaz Amirullah Khan vs. ITO 5. In the result, the assessee’s appeal is allowed on the aforesaid terms. Order pronounced in the open court on August 26, 2016 (Amarjit Singh) (Sanjay Arora) "या"यक सद"य / Judicial Member लेखा सद"य / Accountant Member मुंबई Mumbai; "दनांक Dated : 26.08.2016 व."न.स./Roshani, Sr…

Kolon Investment P.Ltd, Mumbai vs. CIT 8, Mumbai

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. No. 2870/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) Kolon Investment Pvt. Ltd. Cit-8, बनाम/ 417-419, 4Th Floor, Room No. 259, Aayakar Bhavan, M. V. Road, Andheri (E), M. K. Road, Mumbai-400 020 Vs. Mumbai-400 059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaack 9118 L (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Girish Dave & Ms. Kadambari Dave ""यथ" क" ओर से/Respondent By : Shri H. N. Singh सुनवाई क" तार"ख / : 16.5.2016 Date Of Hearing घोषणा क" तार"ख / : 23.8.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: The Instant Appeal By The Assessee Agitates The Revision U/S. 263 Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) Dated 31.3.2014 By The Commissioner Of Income Tax-8, Mumbai (‘Cit’ For Short) Qua Its Assessment U/S. 143(3) Dated 01.12.2011 For The Assessment Year (A.Y.) 2009-10. 2. The Basis Of The Revision In The Present Case Is The Acceptance By The Assessing Officer (A.O.) Of The Assessee’S Claim For Short Term Capital Gain (Stcg) On The Non- Exercise Of The Option To Subscribe To The (Equity) Share Capital In Sintex Industries

…2 ITR 363 (SC)]. Further, lest we be considered as having travelled outside the scope of this appeal, we may advert to the decisions, inter alia, in the case of Kapurchand Shrimal v. CIT [1981] 131 ITR 451 (SC) and Ahmedabad Electricity Co. Ltd. v. CIT [1993] 199 ITR 351 (Bom)(FB). 5. We decide accordingly (refer paras 3.1 through 3.5, and 4). 6. In the result, the assessee’s appeal is dismissed. प"रणामतः "नधा"रती क" अपील खा"रज क" जाती है । Order pronounced in the open court on August 23, 2016 (Pawan Singh) (Sanjay Arora) "या"यक सद"य / Judicial Member लेखा सद"य / Accountant Member मुंबई Mumbai; "दनांक Dated :…

Suman Kadam, Thane vs. ITO WD 2(4), Thane

In the result, the assessee’s appeal is partly allowed for statistical purposes, and the Revenue’s appeal is allowed for statistical purposes

Bench: Shri Sanjay Arora, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. No. 2777/Mum/2014 ("नधा"रण वष" / Assessment Year: 2008-09) Suman Kadam Ito, Ward 2(4), बनाम/ Vardaan, 6Th Floor, S/1, Narmada Apartment, Cabin Cross Road, Bhayandar (E), Ashar I. T. Park, Road No. 16-Z, Vs. Thane-401 105 Wagle Indl. Estate, Thane-400 604 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Afipk 3600 D (Assessee) (Revenue) : आयकर अपील सं./I.T.A. No. 3256/Mum/2014 ("नधा"रण वष" / Assessment Year: 2008-09) बनाम/ Ito, Ward 2(2), Suman Kadam Thane-400 604 Thane-401 105 Vs. (Revenue) : (Assessee) : Shri Vijay Shah Assessee By Revenue By : Shri Debabrata Baidya सुनवाई क" तार"ख / : 12.5.2016 Date Of Hearing घोषणा क" तार"ख / : 08.8.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: These Are Cross Appeals, I.E., By The Assessee & The Revenue, Arising Out Of The Order By The Commissioner Of Income Tax (Appeals)-2, Thane (‘Cit(A)’ For Short) Dated 27.2.2014, Partly Allowing The Assessee’S Appeal Contesting Its Assessment U/S.143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) For The Assessment Year (A.Y.) 2008-09 Vide Order Dated 31.12.2010. 2

…e file of the assessing authority, we may advert to the 9 ITA Nos. 2777 & 3256/Mum/2014 (A.Y. 2008-09) Suman Kadam vs. ITO decisions, inter alia, in the case of Kapurchand Shrimal v. CIT [1981] 131 ITR 451 (SC) and Ahmedabad Electricity Co. Ltd. v. CIT [1993] 199 ITR 351 (Bom)(FB). 4. In the result, the assessee’s appeal is partly allowed for statistical purposes, and the Revenue’s appeal is allowed for statistical purposes. Order pronounced in the open court on August 08, 2016 (Pawan Singh) (Sanjay Arora) "या"यक सद"य / Judicial Member लेखा सद"य / Accountant Member मुंबई Mumbai; "दनांक Dated : 08 .08.2016 व."न.…

Mantor Capital Ltd, Mumbai vs. Asst CIT Cen Cir 22, Mumbai

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER आमकय अऩीर सं./ITA Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) ACIT CC 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACCP7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. AND आमकय अऩीर सं./ ITA Nos. 194 to 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 to 2011-2012) Vs. ACIT, Mentor Capital Ltd. 713 Raheja Centre Free CC…

Mantor Capital Ltd, Mumbai vs. Asst CIT Cen Cir 22, Mumbai

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER आमकय अऩीर सं./ITA Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) ACIT CC 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACCP7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. AND आमकय अऩीर सं./ ITA Nos. 194 to 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 to 2011-2012) Vs. ACIT, Mentor Capital Ltd. 713 Raheja Centre Free CC…

Mantor Capital Ltd, Mumbai vs. Asst CIT Cen Cir 22, Mumbai

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER आमकय अऩीर सं./ITA Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) ACIT CC 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACCP7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. AND आमकय अऩीर सं./ ITA Nos. 194 to 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 to 2011-2012) Vs. ACIT, Mentor Capital Ltd. 713 Raheja Centre Free CC…

Mentor Capital Ltd, Mumbai vs. DCIT Cen Cir 22, Mumbai

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER आमकय अऩीर सं./ITA Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) ACIT CC 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACCP7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. AND आमकय अऩीर सं./ ITA Nos. 194 to 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 to 2011-2012) Vs. ACIT, Mentor Capital Ltd. 713 Raheja Centre Free CC…

ACIT CC 3(3) Cen RG 3, Mumbai vs. Mentor Capital Ltd, Mumbai

In the result, appeals of the assessee are allowed in part, in terms indicated hereinabove, whereas appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./Ita Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) Acit Cc 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./ Ita Nos. 194 To 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 To 2011-2012) Vs. Acit, Mentor Capital Ltd. 713 Raheja Centre Free Cc -22 Press Journal Rd. Mumbai – 4000020 Nariman Pt. Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccp7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri N.P. Singh, Cit Dr ननधाारयती की ओर से /Assessee By : Mr. N. R. Suresh, Ar सुनवाई की तायीख / Date Of Hearing : 25/07/2016 घोषणा की तायीख/Date Of Pronouncement 03/08/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The A.Y.2010-2011 & The Appeals Filed By Assessee For Assessment Years 2008-2009 To 2011-2012, In The Matter Order Passed U/S 143(3)/143(3) R.W.S.147 Of The I.T. Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER आमकय अऩीर सं./ITA Nos.7408/M/2014 (निर्धारण वषा / Assessment Year: 2010-11) ACIT CC 3(3) Vs. Mentor Capital Ltd. 713 Raheja Centre Free Press Mumbai – 4000020 Journal Rd. Nariman Pt. Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACCP7995G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. AND आमकय अऩीर सं./ ITA Nos. 194 to 196/M/2015 & 7512/M/2014 (निर्धारण वषा / Assessment Year: 2008-2009 to 2011-2012) Vs. ACIT, Mentor Capital Ltd. 713 Raheja Centre Free CC…

Javed K. Khan, Mumbai vs. ITO 19(2)(3), Mumbai

Bench: Shri Mahavir Singh & Shri Rajesh Kumarshri Javed K. Khan, B-103, Pioneer Heritage Residency-I, Daulat Nagar, Santacruz, Mumbai 400054 Pan: Bappk8874E ... Appellant Vs. The Ito (2)(3,) Mumbai 400002 .... Respondent

…essee relied upon the decision of the Hon'ble Supreme Court in the case of National Thermal Power Company vs. CIT (1998) 229 ITR 383(SC) and also Full Bench decision of Hon'ble Bombay High Court in the case of Ahmadabad Electricity Company Ltd. vs. CIT (1993) 199 ITR 351(Bom)(FB). When this was confronted to Ld. Sr. D.R, he stated that this additional ground should not be entertained and for this he also relied on the case law of National Thermal Power Company (supra). He read out the following from the judgment: “The Appellate Assistant Commissioner must be satisfied that the ground raised was bona fide and tha…

M/S. Tata Industries Ltd, Mumbai vs. The ITO 2(3)(3), Mumbai

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

Bench: Shri G. S. Pannu, Accoutant Member & Shri Sanjay Gargtata Industries Ltd., Vs. The Income Tax Officer, Ward- Bombay House,24,Homi 2 (3) (3), Room No.555, Mody Street, Fort, Mumbai Aayakar Bhavan, Maharshi 400 001 Karve Road, Mumbai 400 020 Pan: Aaact 4058 L Appellant .. Respondent Appellant By Shri Dinesh Vyas, Ar Respondent By Shri Alok Johri, Dr Date Of Hearing 22-06-2016 Date Of Pronouncement 20-07-2016

…nd having a bearing on the tax liability of the assessee. The full bench of the Hon’ble Bombay High Court in the cases of “Ahmedabad Electricity Company Ltd. vs. CIT” and “Godavari Sugar Mills Ltd. vs. CIT” by way of a common order 49 dated 30.04.1992 (1993) 199 ITR 351 has observed that the basic purpose of an appeal procedure in an income tax matter is to ascertain the correct tax liability of the assessee in accordance with law. Therefore, at both the stages, either by the Appellate Assistant Commissioner or before the Appellate Tribunal, the appellate authority can consider the proceedings before it and the…

ITO 13(2)(3), Mumbai vs. Paresh Chemicals, Mumbai

In the result, the Revenue’s appeal is allowed for statistical purposes

Bench: Shri Mahavir Singh, Jm & Shri Sanjay Arora, Am आयकर अपील सं./I.T.A. No. 4676/Mum/2014 ("नधा"रण वष" / Assessment Year: 2008-09) Ito-13(2)-3, Paresh Chemicals, बनाम/ R. No. 425, 4Th Floor, Aayakar Plot No. 236, 1St Floor, Bhavan, M. K. Road, Mumbai-20 Samuel Street, Mumbai-400 003 Vs. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaefp 2676 H (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Vijay Kumar Sani ""यथ" क" ओर से/Respondent By : None

…count as income under the Act. Further, lest one considers us as having travelled outside the scope of the appeal, we may advert to the decisions in the case of Kapurchand Shrimal v. CIT [1981] 131 ITR 451 (SC) and Ahmedabad Electricity Co. Ltd. v. CIT [1993] 199 ITR 351 (Bom)(FB). We decide accordingly. 8 ITO vs. Paresh Chemicals 7. In the result, the Revenue’s appeal is allowed for statistical purposes. प"रणामतः राज"व क" अपील सां"यक"य उ"दे"य के "लए "वीकृत क" जाती है । Order pronounced in the open court on July 15. 2016 (Mahavir Singh) (Sanjay Arora) "या"यक सद"य / Judicial Member लेखा सद"य / Accountant Member…

ITO 14(2)(3), Mumbai vs. Lachhmandas U Talreja (HUF), Mumbai

In the result, the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. Nos.7644 & 7645/Mum/2013 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Ito-14(2)-3, Lachhmandas U Talreja (Huf) बनाम/ Earnest House, R. No. 306, 3Rd Floor, 282, Kalbadevi Road, Vs. Nariman Point, Mumbai-400 021 Mumbai-400 002 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaahl 0990 E (राज"व/ Revenue) ("नधा"रती/Assessee) : आयकर अपील सं./I.T.A. Nos.6581 & 6582/Mum/2013 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Lachhmandas U Talreja (Huf) Ito-14(2)-3, बनाम/ Earnest House, R. No. 306, 3Rd Floor, 282, Kalbadevi Road, Vs. Mumbai-400 002 Nariman Point, Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaahl 0990 E ("नधा"रती/Assessee) (राज"व/ Revenue) : राज"व क" ओर से / Revenue By : Shri Jeevan Lal Lavidya "नधा"रती क" ओर से/Assessee By : Shri Deepak Tralshwala सुनवाई क" तार"ख / : 18.4.2016 Date Of Hearing घोषणा क" तार"ख / : 11.7.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: This Is A Set Of Cross Appeals, I.E., By The Assessee & The Revenue, For Two Consecutive Years, Being Assessment Years (A.Ys.) 2004-05 & 2005-06, Preferred U/S. 253 Of The Income Tax Act, 1961 (‘The Act’ Hereinafter). The Issues Arising Being (A.Ys. 2004-05 & 2005-06) Lachhmandas U Talreja (Huf) Common, The Same Were Listed For Hearing & Were Accordingly Heard Together – The Facts & Circumstances As Well As The Respective Cases Of The Parties Being Also The Same & Are Being Disposed Of Vide A Common, Consolidated Order.

…ving travelled outside the scope of the appeal, we may advert to the decisions, inter alia, in the case of Kapurchand (A.Ys. 2004-05 & 2005-06) Lachhmandas U Talreja (HUF) Shrimal v. CIT [1981] 131 ITR 451 (SC) and Ahmedabad Electricity Co. Ltd. v. CIT [1993] 199 ITR 351 (Bom)(FB). We decide accordingly. 8. In the result, the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes. Order pronounced in the open court on July 11, 2016 (Pawan Singh) (Sanjay Arora) "या"यक सद"य / Judicial Member लेखा सद"य / Accountant Mem…

Kartik Doshi, Mumbai vs. ITO 22(2)(1), Vashi

In the result, the assessee’s appeal is allowed for statistical purposes, i

…आयकर अपील"य अ"धकरण “ए” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI SANJAY ARORA, AM AND SHRI RAM LAL NEGI, JM आयकर अपील सं./I.T.A. No. 3310/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) Kartik Bharat Doshi, ITO-22(2)(1), बनाम/ 4th Floor, Tower No. 6, 1206, C Wing, Krushal Towers, Near Shoppers Stop, Vashi Station Complex, Vs. Chembur Tower, Mumbai-75 Vashi "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AETPD 6457 R (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant by : Shri Jayant Bhatt ""यथ" क" ओर से/Respondent by : Shri S. R. Singh सुनवाई क" तार"ख / : 0…