CIT-7 v. Reliance Communication Infrastructure Ltd.

DCIT-2(2)(1), MUMBAI vs. THE INDIAN HOTELS COMPANY LTD., MUMBAI

In the result, appeal of the Assessee is partly allowed whereas the appeal of the Revenue is dismissed

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI SHRI B.R. BASKARAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER The Indian Hotels Company Limited, Mandlik House, 3rd Floor, Mandlik Road, Colaba, Mumbai - 400001 [PAN:AAACT3957G] ……………… Appellant The Deputy Commissioner of Income Tax, Vs Circle 2(2)(1), Aaykar Bhavan, M.K. Road, Mumbai - 400020 ……………. Respondent The Deputy Commissioner of Income Tax, Circle 2(2)(1), Room No. 545, Aayakar Bhavan, M.K. Road, Mumbai - 400020 ……………… Appellant M/s The Indian Hotels Company Limited, Vs Mandlik House, 3rd Floor, Mandlik Road, Colaba, Mumbai - 400001 ……

THE INDIAN HOTELS COMPANY LTD.,MUMBAI vs. DCIT CIR. 2(2)(1), MUMBAI

In the result, appeal of the Assessee is partly allowed whereas the appeal of the Revenue is dismissed

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI SHRI B.R. BASKARAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER The Indian Hotels Company Limited, Mandlik House, 3rd Floor, Mandlik Road, Colaba, Mumbai - 400001 [PAN:AAACT3957G] ……………… Appellant The Deputy Commissioner of Income Tax, Vs Circle 2(2)(1), Aaykar Bhavan, M.K. Road, Mumbai - 400020 ……………. Respondent The Deputy Commissioner of Income Tax, Circle 2(2)(1), Room No. 545, Aayakar Bhavan, M.K. Road, Mumbai - 400020 ……………… Appellant M/s The Indian Hotels Company Limited, Vs Mandlik House, 3rd Floor, Mandlik Road, Colaba, Mumbai - 400001 ……

ASST CIT CIR 2(2)(1), MUMBAI vs. THE INDIAN HOTELS COMPANIES LTD, MUMBAI

In the result, appeal of the Assessee is partly allowed whereas the appeal of the Revenue is dismissed

…or Assessment Year 1994-95, 1998-99 to 2002-03. Further, placing reliance upon the judgment of the Hon‟ble Bombay High Court in the case of CIT-7 Vs. Reliance 19 ITA. No. 2348 & 2408/Mum/2015 Assessment Year: 2010-11 Communication Infrastructure Ltd.: [2013] 260 CTR 159 (Bombay), the Ld. Authorised Representative for the Assessee submitted that the fact that borrowed funds were utilzised for making the investments would not disentitled the Assessee from claiming deduction for interest so long as the investment has been made on account of business expediency. 41. We have heard the rival contention and perused th…

THE INDIAN HOTELS COMPANY LTD,MUMBAI vs. ASST CIT CIR 2(2)(1), MUMBAI

In the result, appeal of the Assessee is partly allowed whereas the appeal of the Revenue is dismissed

…or Assessment Year 1994-95, 1998-99 to 2002-03. Further, placing reliance upon the judgment of the Hon‟ble Bombay High Court in the case of CIT-7 Vs. Reliance 19 ITA. No. 2348 & 2408/Mum/2015 Assessment Year: 2010-11 Communication Infrastructure Ltd.: [2013] 260 CTR 159 (Bombay), the Ld. Authorised Representative for the Assessee submitted that the fact that borrowed funds were utilzised for making the investments would not disentitled the Assessee from claiming deduction for interest so long as the investment has been made on account of business expediency. 41. We have heard the rival contention and perused th…

DCIT 3(1), MUMBAI vs. EDELWEISS CAPITAL LTD, MUMBAI

In the result appeals of Revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN, JM ITA No.7654/Mum/2011 (Assessment Year :2007-08 & 2008-09) DCIT CIR 3(1) Vs. M/s. Edelweiss Capital Ltd., 4th R.No.607, Aayakar Bhavan Edelweiss House, Floor, Mumbai – 400 020 Off. CST Road, Kalina, Mumbai – 400 098 PAN/GIR No. AAACE1461E Appellant) .. Respondent) DCIT CIR 3(1) Vs. M/s. Edelweiss Capital Ltd., 14th R.No.607, Aayakar Bhavan Floor, Express Towers, Mumbai – 400 020 Nariman Point, Mumbai – 400 021 PAN/GIR No. AAACE1461E Appellant) .. Respondent) M/s. Edelweiss Capital Ltd., Vs. Addl CIT RG 3(1…