CIT v. Happy Home Enterprises

DCIT 5(1)(1), MUMBAI vs. BGH EXIM LTD, MUMBAI

Bench: Shri C.N. Prasad & Shri Ashwani Taneja

…1 IN THE INCOME TAX APPELLATE TRIBUNAL "G" BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI ASHWANI TANEJA, ACCOUNTANT MEMBER I.T.A. Nos.3703,3704 &3705/Mum/2015 Assessment Years: 2009-10,2010-11 &2011-12 BGH EXIM LTD 213,2nd Floor, TV DCIT 5(1)(1) R.No.568,5th Floor, Aayakar बनाम/ INDL Estate 52 S.K. Ahire Marg, Bhavan, M.K. Road, Mumbai Pin Worli Mumbai Pin:400030 Vs. 400020 "थायी लेखा सं./जीआइआर सं./PAN/GIR No AABCB6755B (अपीलाथ" /Appellant) (""थ" / Respondent) : Appellant by : Ms. Anupama Singla( D. R.) Respondent by : Shri Ronak G. Doshi & Ritu Punjabi (A.R.) सुनवाई की तारीख / : 21/02/201…

ACIT, CENT. CIR.2, THANE vs. SAI HOME MAKERS, NAVI MUMBAI

In the result, assessee‟s appeals are allowed

Bench: Shri Saktijit Dey & Shri Ramit Kochar

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ITA no.6144/Mum./2011 (Assessment Year : 2007–08) Asstt. Commissioner of Income Tax Central Circle–2, Thane Pawar Indl. ……………. Appellant Estate, Edulji Road, Charai Thane 400 061 v/s M/s. Sai Home Makers 301/313, 3rd Floor, Perispolis CHS ……………. Respondent Plot no.74, Sector–12, Vashi Navi Mumbai – PAN – ABAFS3227J ITA no.5730/Mum./2011 (Assessment Year : 2008–09) M/s. Sai Home Makers 301/313, 3rd Floor, Perispolis CHS ……………. Appellant Plot no.74, Sector–12, Vashi Navi Mumb…

KAMALA BROTHERS,MUMBAI vs. ITO 24(2)1), MUMBAI

In the result, appeal filed by the Revenue is dismissed, and assessee’s appeal as well as and CO filed by the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Ashwani Tanejaassessment Year: 2003-04 Kamala Brothers, Ito 24(2)(1) Kuber Chamber, Cts बनाम/ C-13 Bandra Kurla 141-A, Next To Cod, Complex, Bandra(E) Vs. Dutt Mandir Road, Mumbai Malad (E) Mumbai -400097 (Assessee) (Revenue) P.A. No.Aaafk0111D Assessment Year: 2003-04 Ito 24(2)(1) Kamala Brothers, C-13 Bandra Kurla Kuber Chamber, Cts 141- बनाम/ Complex, Bandra(E) A, Next To Cod, Dutt Vs. Mumbai Mandir Road, Malad (E) Mumbai -400097 (Revenue) (Respondent) P.A. No. Aaafk0111D C.O. No.180/Mum/2013 (Arising Out Of Ita No.1334/Mum/2011) Assessment Year: 2003-04

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,I,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “I”, MUMBAI "ी संजय गग", "या"यक सद"य एवं "ी अ"वनी तनेजा, लेखा सद"य, के सम" Before Shri Sanjay Garg, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 2003-04 Kamala Brothers, ITO 24(2)(1) Kuber Chamber, CTS बनाम/ C-13 Bandra Kurla 141-A, Next to COD, Complex, Bandra(E) Vs. Dutt Mandir Road, Mumbai Malad (E) Mumbai -400097 (Assessee) (Revenue) P.A. No.AAAFK0111D Assessment Year: 2003-04 ITO 24(2)(1) Kamala Brothers, C-13 Bandra Kurla Kuber Chamber, CTS 141- बनाम/ Complex, Bandra(E) A, Next…

KAMALA BROTHERS,MUMBAI vs. ADDL CIT RG 24(2), MUMBAI

In the result, appeal filed by the Revenue is dismissed, and assessee’s appeal as well as and CO filed by the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Ashwani Tanejaassessment Year: 2003-04 Kamala Brothers, Ito 24(2)(1) Kuber Chamber, Cts बनाम/ C-13 Bandra Kurla 141-A, Next To Cod, Complex, Bandra(E) Vs. Dutt Mandir Road, Mumbai Malad (E) Mumbai -400097 (Assessee) (Revenue) P.A. No.Aaafk0111D Assessment Year: 2003-04 Ito 24(2)(1) Kamala Brothers, C-13 Bandra Kurla Kuber Chamber, Cts 141- बनाम/ Complex, Bandra(E) A, Next To Cod, Dutt Vs. Mumbai Mandir Road, Malad (E) Mumbai -400097 (Revenue) (Respondent) P.A. No. Aaafk0111D C.O. No.180/Mum/2013 (Arising Out Of Ita No.1334/Mum/2011) Assessment Year: 2003-04

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,I,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “I”, MUMBAI "ी संजय गग", "या"यक सद"य एवं "ी अ"वनी तनेजा, लेखा सद"य, के सम" Before Shri Sanjay Garg, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 2003-04 Kamala Brothers, ITO 24(2)(1) Kuber Chamber, CTS बनाम/ C-13 Bandra Kurla 141-A, Next to COD, Complex, Bandra(E) Vs. Dutt Mandir Road, Mumbai Malad (E) Mumbai -400097 (Assessee) (Revenue) P.A. No.AAAFK0111D Assessment Year: 2003-04 ITO 24(2)(1) Kamala Brothers, C-13 Bandra Kurla Kuber Chamber, CTS 141- बनाम/ Complex, Bandra(E) A, Next…

KAMALA BROTHERS,MUMBAI vs. ITO 24(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed, and assessee’s appeal as well as and CO filed by the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Ashwani Tanejaassessment Year: 2003-04 Kamala Brothers, Ito 24(2)(1) Kuber Chamber, Cts बनाम/ C-13 Bandra Kurla 141-A, Next To Cod, Complex, Bandra(E) Vs. Dutt Mandir Road, Mumbai Malad (E) Mumbai -400097 (Assessee) (Revenue) P.A. No.Aaafk0111D Assessment Year: 2003-04 Ito 24(2)(1) Kamala Brothers, C-13 Bandra Kurla Kuber Chamber, Cts 141- बनाम/ Complex, Bandra(E) A, Next To Cod, Dutt Vs. Mumbai Mandir Road, Malad (E) Mumbai -400097 (Revenue) (Respondent) P.A. No. Aaafk0111D C.O. No.180/Mum/2013 (Arising Out Of Ita No.1334/Mum/2011) Assessment Year: 2003-04

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,I,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “I”, MUMBAI "ी संजय गग", "या"यक सद"य एवं "ी अ"वनी तनेजा, लेखा सद"य, के सम" Before Shri Sanjay Garg, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 2003-04 Kamala Brothers, ITO 24(2)(1) Kuber Chamber, CTS बनाम/ C-13 Bandra Kurla 141-A, Next to COD, Complex, Bandra(E) Vs. Dutt Mandir Road, Mumbai Malad (E) Mumbai -400097 (Assessee) (Revenue) P.A. No.AAAFK0111D Assessment Year: 2003-04 ITO 24(2)(1) Kamala Brothers, C-13 Bandra Kurla Kuber Chamber, CTS 141- बनाम/ Complex, Bandra(E) A, Next…

ITO 19(1)(4), MUMBAI vs. SAGAR SHOPPING DEVELOPERS, MUMBAI

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, “ई” खंडपीठ अिधकरण खंडपीठ खंडपीठ मुंबई खंडपीठ मुंबई मुंबई मुंबई INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“E”,BENCH सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"", लेखा राजे"" लेखा लेखा सद"य एवं लेखा सद"य एवं सद"य एवं संसंसंसंजय गग" सद"य एवं जय गग" जय गग", "याियक जय गग" "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Sh. Rajendra,Accountant Member & Sanjay Garg,Judicial Member आयकर आयकर अपील अपील संसंसंसं/.ITA No. 5731/Mum/2011,िनधा"रण िनधा"रण वष" वष"/Assessment Year-2008-09 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" ITO-19(1)(4) M/s. Sagar Shopping…

DCIT (OSD-II) C RG 7, MUMBAI vs. SKYLINE RESIDENCYH P. LTD, MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.6910&6912/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) M/S Skyline Residency Pvt. Ltd., Vs. Acit-(Osd)-Ii, Central Range-7, 4Th Floor, Aykar Acme Compound, Premier Road, Ghatkopar (West), Bhavan, Mumbai Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7311&7312/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) Dcit-(Osd)-Ii, Central Vs. M/S Skyline Residency Pvt. Range-7, 4Th Floor, Aykar Ltd., Acme Compound, Bhavan, Mumbai Premier Road, Ghatkopar (West), Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By : Shri Manjunatha R. Swamy सुनवाई की तायीख / Date Of Hearing : 29/10/2015 घोषणा की तायीख/Date Of Pronouncement 16/12/2015 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Cit(A), Mumbai, For The Assessment Years 2007-08 & 2008-09, In The Matter Of Order Passed U/S.143(3) Of The I.T.Act. 2. Common Grounds Have Been Taken In Both The Years Under Consideration, Therefore, Appeals For Both The Years Were Heard Together

…the argument of the assessee that the amendments made under section 801B(10) w.e.f. 0l.04.2010 are prospective, the AR relied on the judgment of Hon'ble Bombay High Court in case of CIT v. Happy Home Enterprises (Income Tax Appeal No. 308 of 2012) reported in 372 ITR 1/271 CTR 524. It was contended that the conditions of section 80IB(10) of the Act is fulfilled and claim of the assessee cannot be rejected and consequently the appeal filed by the ITA Nos.7321&7322/2011 assessee must be allowed and appeal filed by the department must be dismissed. 13. We found that the AO rejected assessee‟s claim by observing that…

SKYLINE RESIDENCY P. LTD,MUMBAI vs. ACIT (OSD II) CEN RG 7, MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.6910&6912/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) M/S Skyline Residency Pvt. Ltd., Vs. Acit-(Osd)-Ii, Central Range-7, 4Th Floor, Aykar Acme Compound, Premier Road, Ghatkopar (West), Bhavan, Mumbai Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7311&7312/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) Dcit-(Osd)-Ii, Central Vs. M/S Skyline Residency Pvt. Range-7, 4Th Floor, Aykar Ltd., Acme Compound, Bhavan, Mumbai Premier Road, Ghatkopar (West), Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By : Shri Manjunatha R. Swamy सुनवाई की तायीख / Date Of Hearing : 29/10/2015 घोषणा की तायीख/Date Of Pronouncement 16/12/2015 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Cit(A), Mumbai, For The Assessment Years 2007-08 & 2008-09, In The Matter Of Order Passed U/S.143(3) Of The I.T.Act. 2. Common Grounds Have Been Taken In Both The Years Under Consideration, Therefore, Appeals For Both The Years Were Heard Together

…the argument of the assessee that the amendments made under section 801B(10) w.e.f. 0l.04.2010 are prospective, the AR relied on the judgment of Hon'ble Bombay High Court in case of CIT v. Happy Home Enterprises (Income Tax Appeal No. 308 of 2012) reported in 372 ITR 1/271 CTR 524. It was contended that the conditions of section 80IB(10) of the Act is fulfilled and claim of the assessee cannot be rejected and consequently the appeal filed by the ITA Nos.7321&7322/2011 assessee must be allowed and appeal filed by the department must be dismissed. 13. We found that the AO rejected assessee‟s claim by observing that…

SKYLINE RESIDENCY P. LTD,MUMBAI vs. ACIT (OSD II) CEN RG -7, MUMBAI

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.6910&6912/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) M/S Skyline Residency Pvt. Ltd., Vs. Acit-(Osd)-Ii, Central Range-7, 4Th Floor, Aykar Acme Compound, Premier Road, Ghatkopar (West), Bhavan, Mumbai Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7311&7312/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) Dcit-(Osd)-Ii, Central Vs. M/S Skyline Residency Pvt. Range-7, 4Th Floor, Aykar Ltd., Acme Compound, Bhavan, Mumbai Premier Road, Ghatkopar (West), Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By : Shri Manjunatha R. Swamy सुनवाई की तायीख / Date Of Hearing : 29/10/2015 घोषणा की तायीख/Date Of Pronouncement 16/12/2015 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Cit(A), Mumbai, For The Assessment Years 2007-08 & 2008-09, In The Matter Of Order Passed U/S.143(3) Of The I.T.Act. 2. Common Grounds Have Been Taken In Both The Years Under Consideration, Therefore, Appeals For Both The Years Were Heard Together

…the argument of the assessee that the amendments made under section 801B(10) w.e.f. 0l.04.2010 are prospective, the AR relied on the judgment of Hon'ble Bombay High Court in case of CIT v. Happy Home Enterprises (Income Tax Appeal No. 308 of 2012) reported in 372 ITR 1/271 CTR 524. It was contended that the conditions of section 80IB(10) of the Act is fulfilled and claim of the assessee cannot be rejected and consequently the appeal filed by the ITA Nos.7321&7322/2011 assessee must be allowed and appeal filed by the department must be dismissed. 13. We found that the AO rejected assessee‟s claim by observing that…

FOUR DIMENSIONS SECURITIES (I) LTD,MUMBAI vs. ADDL CIT RG 4(1), MUMBAI

Appeals are disposed off in terms indicated hereinabove

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F Assessment Year: 2005-06 Addl. Commissioner Of M/S Four Dimensions Income Tax, Range-4(1), Securities (India) Ltd. बनाम/ 6Th Floor,Aayakar Bhavan, 29, Bank Street, 1St Floor, Vs. Mumbai-400020 Fort, Mumbai (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacf1734F Assessment Year: 2006-07 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F

…her expressed or implied by necessary implication. The hon’ble Apex Court while coming to the above conclusion duly considered following decisions:- i. Reliance Jute and Industries Ltd. vs CIT (1979) 120 ITR 921 (SC) ii. CIT vs Happy Homes Enterprises (2015) 372 ITR 1 (Bom.) iii. CIT vs Brahma Associates 333 ITR 289 (Bom.)(para-5) iv. CIT vs Gold Coin Health Food Pvt. Ltd. 304 ITR 308 (SC) v. CIT vs Shah Sadiq & Sons 166 ITR 102 (SC) (Para-9) vi. CIT vs Vatika Township Pvt Ltd. (2014), 367 ITR 466 (SC)(para-9). 8 Four dimensions Securities India Pvt. Ltd. ITA No.322 & 790/Mum/2009 & Ors cases It is also noted t…

DCIT -4(1), MUMBAI vs. FOUR DIMENSION SECURITIES (I) LTD, MUMBAI

Appeals are disposed off in terms indicated hereinabove

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F Assessment Year: 2005-06 Addl. Commissioner Of M/S Four Dimensions Income Tax, Range-4(1), Securities (India) Ltd. बनाम/ 6Th Floor,Aayakar Bhavan, 29, Bank Street, 1St Floor, Vs. Mumbai-400020 Fort, Mumbai (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacf1734F Assessment Year: 2006-07 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F

…her expressed or implied by necessary implication. The hon’ble Apex Court while coming to the above conclusion duly considered following decisions:- i. Reliance Jute and Industries Ltd. vs CIT (1979) 120 ITR 921 (SC) ii. CIT vs Happy Homes Enterprises (2015) 372 ITR 1 (Bom.) iii. CIT vs Brahma Associates 333 ITR 289 (Bom.)(para-5) iv. CIT vs Gold Coin Health Food Pvt. Ltd. 304 ITR 308 (SC) v. CIT vs Shah Sadiq & Sons 166 ITR 102 (SC) (Para-9) vi. CIT vs Vatika Township Pvt Ltd. (2014), 367 ITR 466 (SC)(para-9). 8 Four dimensions Securities India Pvt. Ltd. ITA No.322 & 790/Mum/2009 & Ors cases It is also noted t…

FOUR DIMENSIONS SECURITIES (INDIA) LTD,MUMBAI vs. ADDL CIT RG 4(1), MUMBAI

Appeals are disposed off in terms indicated hereinabove

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F Assessment Year: 2005-06 Addl. Commissioner Of M/S Four Dimensions Income Tax, Range-4(1), Securities (India) Ltd. बनाम/ 6Th Floor,Aayakar Bhavan, 29, Bank Street, 1St Floor, Vs. Mumbai-400020 Fort, Mumbai (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacf1734F Assessment Year: 2006-07 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F

…her expressed or implied by necessary implication. The hon’ble Apex Court while coming to the above conclusion duly considered following decisions:- i. Reliance Jute and Industries Ltd. vs CIT (1979) 120 ITR 921 (SC) ii. CIT vs Happy Homes Enterprises (2015) 372 ITR 1 (Bom.) iii. CIT vs Brahma Associates 333 ITR 289 (Bom.)(para-5) iv. CIT vs Gold Coin Health Food Pvt. Ltd. 304 ITR 308 (SC) v. CIT vs Shah Sadiq & Sons 166 ITR 102 (SC) (Para-9) vi. CIT vs Vatika Township Pvt Ltd. (2014), 367 ITR 466 (SC)(para-9). 8 Four dimensions Securities India Pvt. Ltd. ITA No.322 & 790/Mum/2009 & Ors cases It is also noted t…