Bombay Stock Exchange Ltd. v. Deputy Director of Income-Tax (Exemption)

365 ITR 181High Court#9954 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2024.

Issues it is cited on

test of enduring benefitsection 35ddsection 72asection 147(b)section 115jaasection 2(31)section 147(a)true and full disclosuresection 39section 54ecfull and true disclosureresulting company

Judgments citing Bombay Stock Exchange Ltd. v. Deputy Director of Income-Tax (Exemption)

AARAV FINANCIAL SERVICES PVT. LTD.,AHMEDABAD vs. THE DY. CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

ITA 13/AHD/2024[2012-13]Status: DisposedITAT Ahmedabad22 Oct 2024AY 2012-13

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

For Appellant: Shri Deepak R. Shah, A.RFor Respondent: Shri Prateek Sharma, Sr. D.R
Section 145Section 147Section 148

…case requires to be deleted on this count itself. The ld. A.R. relied upon the following decisions:- i) NDTV 271 taxman 1 (SC) I.T.A Nos. 10 to 13/Ahd/2024 A.Y. 2011-12 to 2012-13 Page No. 10 ii) Calcutta Discount 41 ITR 191 (SC) iii) Bombay Stock Exchange 365 ITR 181 (Bom HC) iv) Parshuram Potteries 106 ITR 1 (SC) The ld. A.R. in respect of ground no. 1 related to reopening u/s. 147 relied upon the decision of NDTV 271 taxman 1 (SC), Calcutta Discount 41 ITR 191 (SC), Bombay Stock Exchange 365 ITR 181 Bom HC, Parshuram Potteries 106 ITR S (SC) as relates to merits of the case regarding disallowance of share t…

VICKY RAJESH JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

ITA 12/AHD/2024[2012-13]Status: DisposedITAT Ahmedabad22 Oct 2024AY 2012-13

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

For Appellant: Shri Deepak R. Shah, A.RFor Respondent: Shri Prateek Sharma, Sr. D.R
Section 145Section 147Section 148

…case requires to be deleted on this count itself. The ld. A.R. relied upon the following decisions:- i) NDTV 271 taxman 1 (SC) I.T.A Nos. 10 to 13/Ahd/2024 A.Y. 2011-12 to 2012-13 Page No. 10 ii) Calcutta Discount 41 ITR 191 (SC) iii) Bombay Stock Exchange 365 ITR 181 (Bom HC) iv) Parshuram Potteries 106 ITR 1 (SC) The ld. A.R. in respect of ground no. 1 related to reopening u/s. 147 relied upon the decision of NDTV 271 taxman 1 (SC), Calcutta Discount 41 ITR 191 (SC), Bombay Stock Exchange 365 ITR 181 Bom HC, Parshuram Potteries 106 ITR S (SC) as relates to merits of the case regarding disallowance of share t…

VICKY RAJESH JHAVERI,AHMEDABAD vs. THE DY. CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

ITA 11/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad22 Oct 2024AY 2011-12

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

For Appellant: Shri Deepak R. Shah, A.RFor Respondent: Shri Prateek Sharma, Sr. D.R
Section 145Section 147Section 148

…case requires to be deleted on this count itself. The ld. A.R. relied upon the following decisions:- i) NDTV 271 taxman 1 (SC) I.T.A Nos. 10 to 13/Ahd/2024 A.Y. 2011-12 to 2012-13 Page No. 10 ii) Calcutta Discount 41 ITR 191 (SC) iii) Bombay Stock Exchange 365 ITR 181 (Bom HC) iv) Parshuram Potteries 106 ITR 1 (SC) The ld. A.R. in respect of ground no. 1 related to reopening u/s. 147 relied upon the decision of NDTV 271 taxman 1 (SC), Calcutta Discount 41 ITR 191 (SC), Bombay Stock Exchange 365 ITR 181 Bom HC, Parshuram Potteries 106 ITR S (SC) as relates to merits of the case regarding disallowance of share t…

SAGAR RAJESH JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

ITA 10/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad22 Oct 2024AY 2011-12

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

For Appellant: Shri Deepak R. Shah, A.RFor Respondent: Shri Prateek Sharma, Sr. D.R
Section 145Section 147Section 148

…case requires to be deleted on this count itself. The ld. A.R. relied upon the following decisions:- i) NDTV 271 taxman 1 (SC) I.T.A Nos. 10 to 13/Ahd/2024 A.Y. 2011-12 to 2012-13 Page No. 10 ii) Calcutta Discount 41 ITR 191 (SC) iii) Bombay Stock Exchange 365 ITR 181 (Bom HC) iv) Parshuram Potteries 106 ITR 1 (SC) The ld. A.R. in respect of ground no. 1 related to reopening u/s. 147 relied upon the decision of NDTV 271 taxman 1 (SC), Calcutta Discount 41 ITR 191 (SC), Bombay Stock Exchange 365 ITR 181 Bom HC, Parshuram Potteries 106 ITR S (SC) as relates to merits of the case regarding disallowance of share t…

DR. B.G. MEMORIAL TRUST,KOLKATA vs. ITO, WARD-1(2), EXEMPTION, KOLKATA

The appeal of the assessee is treated as allowed for statistical purposes

ITA 680/KOL/2024[2013-14]Status: DisposedITAT Kolkata13 Sept 2024AY 2013-14

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.680/Kol/2024 Assessment Year: 2013-14 Dr. B. G. Memorial Trust..…….…....…………….......…....………....Appellant 6/1, Sarat Chatterjee Avenue Rabindra Sarovar, Kolkata – 700029. [Pan: Aaatd5235A] Vs. Ito, Ward-1(2), Exempt, Kolkata...........................................…..…..... Respondent Appearances By: Shri S. M. Surana, Ar & Sunil Surana, Ar, Appeared On Behalf Of The Appellant. Shri Manas Mondal, Addl. Cit, Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 27, 2024 Date Of Pronouncing The Order : September 13, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 18.03.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Brief Facts Of The Case Are That The Assessee Was Registered As A Charitable Institution U/S 12 Of The Act. The Assessee Claimed Deduction Of Income Being A Charitable Institution U/S 11 Of The Act. During The Assessment Proceedings, The Assessing Officer Noted That The Cit(Exemption) Vide Order Dated 22.02.2016 U/S 12Aa(3) Of The Act Has Withdrawn & Cancelled Registration Granted Earlier To The Assessee-Trust. In View Of The Said Cancellation Of Registration, The

Section 11Section 12Section 12ASection 250Section 40Section 40A

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Sanjay Awasthi, Accountant Member I.T.A. No.680/Kol/2024 Assessment Year: 2013-14 Dr. B. G. Memorial Trust..…….…....…………….......…....………....Appellant 6/1, Sarat Chatterjee Avenue Rabindra Sarovar, Kolkata – 700029. [PAN: AAATD5235A] vs. ITO, Ward-1(2), Exempt, Kolkata...........................................…..…..... Respondent Appearances by: Shri S. M. Surana, AR and Sunil Surana, AR, appeared on behalf of the appellant. Shri Manas Mondal, Addl. CIT, Sr. DR,…

JT. CIT (ODS) - CC -1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 222/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON’BLE JUDICIAL MEMBER Deputy Commissioner of Income Tax v. M/s. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 PAN: AAACL6442L (Appellant) (Respondent) Jt. Commissioner of Income Tax (OSD) v. M/s. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floo…

ULTRA TECH CEMENT LIMITED,MUMBAI vs. ACIT- CC 1(4), MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 220/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON’BLE JUDICIAL MEMBER Deputy Commissioner of Income Tax v. M/s. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 PAN: AAACL6442L (Appellant) (Respondent) Jt. Commissioner of Income Tax (OSD) v. M/s. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floo…

DCIT CIR 1(4) , MUMBAI vs. M/S. ULTRATECH CEMENT LTD, MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 1789/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON’BLE JUDICIAL MEMBER Deputy Commissioner of Income Tax v. M/s. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 PAN: AAACL6442L (Appellant) (Respondent) Jt. Commissioner of Income Tax (OSD) v. M/s. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floo…

M/S. ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CENT CIR-1(4) , MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 1466/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON’BLE JUDICIAL MEMBER Deputy Commissioner of Income Tax v. M/s. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 PAN: AAACL6442L (Appellant) (Respondent) Jt. Commissioner of Income Tax (OSD) v. M/s. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9th Floor 2nd Floo…

M/S. BOSE CORPORATION INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal filed by the assessee is allowed

ITA 5705/DEL/2016[2008-09]Status: DisposedITAT Delhi03 Sept 2020AY 2008-09

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[Assessment Year: 2008-09] Bose Corporation India Pvt. Ltd., Vs. Dcit 3Rd Floor, Plot No.4, Circle – 5(1), Salcon Aurum, Jasola District New Delhi Centre, New Delhi – 110 025 Pan No. Aaacb 3260 A [Appellant] [Respondent]

For Appellant: Shri K. M. Gupta, AdvFor Respondent: Ms Rakhi Vimal, Sr. DR
Section 143(3)Section 147Section 148Section 37(1)

…easons indicate what material facts the Petitioner had failed to disclose fully and truly during the course of the regular assessment. In fact our Court in the case of Bombay Stock Exchange Ltd. v. Deputy Director of Income-Tax (Exemption) and others - /2014] 365 ITR 181 (Bom.) has observed as follows : 'In the present case, admittedly, there are no details given by the Assessing Officer (respondent no. i)asto which fact or material was not disclosed by the petitioner that led to its income escaping assessment. There is merely a bald assertion in the reasons that there was a failure on the part of the petitioner…

PEDIATRIC INFECTIOUS DISEASES ACADEMY,KOLKATA vs. ITO, WARD - 31(2), KOLKATA , KOLKATA

In the result, the appeal of the assessee is allowed

ITA 2355/KOL/2017[2013-14]Status: DisposedITAT Kolkata24 May 2018AY 2013-14

Bench: Shri P.M. Jagtap, Am] I.T.A. No. 2355/Kol/2017 Assessment Year: 2013-14 Pediatric Infectious Diseases Academy...............................…………………………Appellant Oriental Apartments, Flat No. H-1, 15C, Canal Street, Moulali, Kolkata – 700 014. [Pan: Aacap 0458 J] I.T.O. Ward 31(2) Kolkata...................……………………………………………...........Respondent 10, Middleton Row, Kolkata – 700 071. Appearances By: Shri Sandeep Vimal, Fca & Shri Ritesh Vimal, Fca Appearing On Behalf Of The Assessee. Shri Alok Nag, Addl. Cit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : April 9, 2018 Date Of Pronouncing The Order : May 24 , 2018 Order This Appeal Filed By The Revenue Is Directed Against The Order Of Ld. Cit(Appeals) – 9, Kolkata Dated 09.08.2016 & The Solitary Issue Involved Therein Relates To The Disallowance Of Rs. 41,59,000/- Made By The A.O. & Confirmed By The Ld. Cit(A) U/S 40(A)(Ia) For Non- Deduction Of Tax At Source From The Payment Of Printing Charges.

Section 12ASection 143(3)Section 194CSection 2(15)Section 40

…is of no relevance for the applicability of section 40(a)(ia). As pointed out by the learned counsel for the assessee, this view taken by the Ld. CIT(A) is contrary to the decision of the Hon’ble Bombay High Court in the case of Bombay Stock Exchange vs DDIT 365 ITR 181 wherein it was held that where the income of the assessee was exempt under section 11 and the assessee was not carried on the business, section 40(a)(ia) had no application. Moreover, the insertion of Explanation 3 to Section 11 by the Finance Act, 2018 making inter alia the provisions of Section 40(a)(ia) applicable in case of charitable or reli…