CIT v. National Storage (P.) Ltd.

48 ITR 577High Court1963#9102 most cited
12

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2023.

Judgments citing CIT v. National Storage (P.) Ltd.

THE ACIT, CORP CIRCLE-1(2), KOCHI vs. M/S.KNOWELL REALTORS INDIA P. LTD, KOCHI

In the result, the Revenue’s appeals are allowed

ITA 193/COCH/2019[2015-16]Status: DisposedITAT Cochin25 Sept 2023AY 2015-16

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Appellant: Sri. Santosh P. Abraham, AdvFor Respondent: Smt.J.M.Jamuna Devi, Sr.DR
Section 143(3)Section 268A

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, AM &Shri Manomohan Das, JM ITA No.192/Coch/2019: Asst.Year: 2012-2013 ITA No.193/Coch/2019: Asst.Year: 2015-2016 The Assistant Commissioner of Knowell Realtors India Income-tax, Private Limited vs. Corporate Circle 1(2), Knowell Jairaj Building Kochi. NH Byepass, Near Edappally Junction Kochi – 682 024. [PAN: AABCM 6039M] (Appellant) (Respondent) Appellant by: Sri. Santosh P. Abraham, Adv. Respondent by: Smt.J.M.Jamuna Devi, Sr.DR Date of Date of Hearing : 13.07.2023 Pronouncement: 25.09.2023 O R D E R Per Sanjay Arora, AM: These…

THE ACIT, CORP CIRCLE-1(2), KOCHI vs. M/S.KNOWELL REALTORS INDIA P. LTD, KOCHI

In the result, the Revenue’s appeals are allowed

ITA 192/COCH/2019[2012-13]Status: DisposedITAT Cochin25 Sept 2023AY 2012-13

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Appellant: Sri. Santosh P. Abraham, AdvFor Respondent: Smt.J.M.Jamuna Devi, Sr.DR
Section 143(3)Section 268A

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, AM &Shri Manomohan Das, JM ITA No.192/Coch/2019: Asst.Year: 2012-2013 ITA No.193/Coch/2019: Asst.Year: 2015-2016 The Assistant Commissioner of Knowell Realtors India Income-tax, Private Limited vs. Corporate Circle 1(2), Knowell Jairaj Building Kochi. NH Byepass, Near Edappally Junction Kochi – 682 024. [PAN: AABCM 6039M] (Appellant) (Respondent) Appellant by: Sri. Santosh P. Abraham, Adv. Respondent by: Smt.J.M.Jamuna Devi, Sr.DR Date of Date of Hearing : 13.07.2023 Pronouncement: 25.09.2023 O R D E R Per Sanjay Arora, AM: These…

SHRI MAHESH DEVDUTTA GUPTA,,NAGPUR vs. ACIT, CENTRAL CIRCLE- 2(3),, NAGPUR

In the result, the addition so made is directed to be deleted and the ground of appeal is allowed

ITA 143/NAG/2017[2005-06]Status: DisposedITAT Nagpur10 Jun 2022AY 2005-06

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S

For Appellant: Shri Rajesh V.Loya, CAFor Respondent: Shri Vitthal Bhosale, JCIT
Section 68

…he findings of the ld.CIT(A) that the services are independent of the rent agreement signed separately by assessee is factually incorrect. Further, reliance was placed on the Hon’ble Bombay High Court decision in the case of CIT v/s. National Storage (P) Ltd. 48 ITR 577 as well as decision of Hon’ble Calcutta High Court in case of CIT v/s. Shambhu Investments(P) Ltd. 249 ITR 47. It was submitted that both the decisions have subsequently been affirmed by the Hon'ble Supreme Court. 8 ITANo.143/Nag/2017 4. Per contra, the ld. DR has relied on the findings of the Assessing Officer as well as the ld.CIT(A). 5. We h…

ACIT 4(3)(1), MUMBAI vs. THE NEW PIECE GOODS BAZAR CO. LTD, MUMBAI

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

ITA 6496/MUM/2017[2014-15]Status: DisposedITAT Mumbai25 Sept 2020AY 2014-15
For Appellant: Ms. Kavita P. Kaushik (DR)For Respondent: Sh. B.V. Jhaveri (Adv.)
Section 143(3)Section 22Section 24

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, MUMBAI BEFORE SH. SANJAY ARORA, ACCOUNTANT MEMBER AND SH. C.N. PRASAD, JUDICIAL MEMBER I. T. A. No. 6496/Mum/2017 [Assessment Year: 2014-15] Asst. CIT 4(3)(1) vs. The New Piece Goods Bazar Co. R.No. 649, 6th Floor, Ltd., 2nd Floor, Office Gally, Aayakar Bhavan, Mumbai – 400020 M.J. Market, Kalbadevi Road, Mumbai [PAN: AAACT 1700F] (Appellant) (Respondent) Appellant by : Ms. Kavita P. Kaushik (DR) Respondent by: Sh. B.V. Jhaveri (Adv.) Date of Hearing: 03.03.2020 Date of Pronouncement: 25.09.2020 ORDER Per Sanjay Arora, AM: This is an Appeal by the Revenue d…

DCIT, CIRCLE - 7(1), KOLKATA, KOLKATA vs. M/S. DHANUKA VENTURES PVT. LTD.,, KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1413/KOL/2017[2012-13]Status: DisposedITAT Kolkata04 Jul 2018AY 2012-13

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1413/Kol/2017 Assessment Year : 2012-13 Dcit, Circle-7(1), Kolkata -Vs- M/S Dhanuka Ventures Pvt. Ltd. [Pan: Aabcm 7883 K] (Appellant) (Respondent)

For Appellant: Shri A. Bhattacharjee, Addl. CITFor Respondent: Shri Ravi Tulsiyan, FCA
Section 143(3)

…ls Ltd vs CIT reported in (1978) 114 ITR 779 (Cal). d) Hon’ble Gujarat High Court in the case of ACIT vs Saptarishi Services Ltd reported in (2004) 265 ITR 379 (Guj). e) Hon’ble Bombay High Court in the case of CIT vs National Storage P Ltd reported in (1963) 48 ITR 577 (Bom). 7. Aggrieved, the revenue is in appeal before us. 8. We have heard the rival submissions and perused the materials available on record. From the facts narrated above, we find that PRIL (user) is only granted permissive use of the services and facilities provided in the premises by the assessee. Further, the user would not be vested with o…

INCOME TAX OFFICER WARD-1(1)(2), BANGALORE vs. M/S ANJANEYA INFRASTRUCTURE PROJECTS PVT LTD , BANGALORE

In the result, Revenue’s appeal for Assessment Year 2013-14 is dismissed

ITA 2509/BANG/2017[2013-14]Status: DisposedITAT Bangalore23 Mar 2018AY 2013-14

Bench: Shri Jason P Boaz & Shri Laliet Kumarthe Income-Tax Officer, Warad-1(1)(2), Bangalore. . Appellant Vs. M/S Anjaneya Infrastructure Projects Pvt. Ltd., Bangalore. . Respondent Appellant By : Smt. Padmameenakshi, Jcit Respondent By : Shri Aravindranath Reddy, C.A Date Of Hearing : 20-3-2018 Date Of Pronouncement : -3-2018 O R D E R

For Appellant: Smt. Padmameenakshi, JCITFor Respondent: Shri Aravindranath Reddy, C.A
Section 143(3)

…ted by the assessee are commercial assets and the income from leasing out commercial property constitutes business income. While reaching this conclusions, the ITAT had relied on the Supreme Court's decision affirming the decision of Bombay High Court (1963), 48 ITR 577 (Born). Following the above ITAT order my predecessor, on identical facts far thAY201243 has allowed the appeal of assessee, by treating the income from leasing out commercial property as business income. 3.2 Further, it is seen that the Hon'ble Supreme Court of India in the case of M/S Chennai Properties & Investments Ltd, in Civil Appeal No. 449…

A.B. HOTELS LTD. (RADISSON HOTEL),NEW DELHI vs. ACIT, NEW DELHI

In the result the above three appeals filed by the assessee are allowed

ITA 4011/DEL/2014[2011-12]Status: DisposedITAT Delhi16 Jun 2017AY 2011-12

Bench: Shri R. K. Panda & Ms. Suchitra Kamble

For Appellant: Sh. Rajesh Malhotra, CAFor Respondent: Sh. R.C.Danday, Sr. D.R
Section 143(3)Section 24

…, the income derived is liable to be assessed under the head 'Business'. The above propositions emerge from the decision of the Supreme Court in C1T vs, National Storage (P) Ltd. (supra), affirming the decision of the Bombay High Court in the same case (1963) 48 ITR 577. “ 11. In CIT vs. National Storage (P) Ltd. (supra), the assessee purchased a plot of land and constructed godowns for storage of films. There were 13 units and each unit was divided into four vaults having a ground floor for rewinding of films. The units were constructed in conformity with the requirements and specifications laid down in the Cine…

A.B. HOTELS LTD. (RADISSON HOTEL),NEW DELHI vs. ACIT, NEW DELHI

In the result the above three appeals filed by the assessee are allowed

ITA 4010/DEL/2014[2009-10]Status: DisposedITAT Delhi16 Jun 2017AY 2009-10

Bench: Shri R. K. Panda & Ms. Suchitra Kamble

For Appellant: Sh. Rajesh Malhotra, CAFor Respondent: Sh. R.C.Danday, Sr. D.R
Section 143(3)Section 24

…, the income derived is liable to be assessed under the head 'Business'. The above propositions emerge from the decision of the Supreme Court in C1T vs, National Storage (P) Ltd. (supra), affirming the decision of the Bombay High Court in the same case (1963) 48 ITR 577. “ 11. In CIT vs. National Storage (P) Ltd. (supra), the assessee purchased a plot of land and constructed godowns for storage of films. There were 13 units and each unit was divided into four vaults having a ground floor for rewinding of films. The units were constructed in conformity with the requirements and specifications laid down in the Cine…

A.B. HOTELS LTD. (RADISSON HOTEL),NEW DELHI vs. ACIT, NEW DELHI

In the result the above three appeals filed by the assessee are allowed

ITA 4009/DEL/2014[2006-07]Status: DisposedITAT Delhi16 Jun 2017AY 2006-07

Bench: Shri R. K. Panda & Ms. Suchitra Kamble

For Appellant: Sh. Rajesh Malhotra, CAFor Respondent: Sh. R.C.Danday, Sr. D.R
Section 143(3)Section 24

…, the income derived is liable to be assessed under the head 'Business'. The above propositions emerge from the decision of the Supreme Court in C1T vs, National Storage (P) Ltd. (supra), affirming the decision of the Bombay High Court in the same case (1963) 48 ITR 577. “ 11. In CIT vs. National Storage (P) Ltd. (supra), the assessee purchased a plot of land and constructed godowns for storage of films. There were 13 units and each unit was divided into four vaults having a ground floor for rewinding of films. The units were constructed in conformity with the requirements and specifications laid down in the Cine…

DCIT 1(2), MUMBAI vs. NAUTILUS TRADING & LEASING P.LTD, MUMBAI

ITA 5778/MUM/2013[2007-08]Status: DisposedITAT Mumbai06 Jan 2017AY 2007-08

Bench: S/Sh.Rajendra & Amarjit Singhआयकर अपील सं./I.T.A./5778/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2007-08 िनधा"रण िनधा"रण वष" वष" Dcit – 1(2) M/S. Nautilus Trading & Leasing Limited Room No.535, 5Th Floor 13, Meera Baug, Santacruz (W) Vs. Aayakar Bhavan, M.K. Road Mumbai-400 054. Mumbai-400 020. Pan:Aaccn 3989 N (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri Saurabh Kumar Rai-Dr अपीलाथ" क" ओर से /Assessee By: None सुनवाई क" तारीख / Date Of Hearing: 29/11/2016 घोषणा क" तारीख / Date Of Pronouncement:06/01/2017 आयकर आयकर अिधिनयम आयकर आयकर अिधिनयम अिधिनयम,1961 क" अिधिनयम क" क" धारा क" धारा धारा 254(1)केकेकेके अ"तग" धारा अ"तग" अ"तग"त आदेश अ"तग" आदेश आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा लेखा सद"य लेखा लेखा सद"य सद"य, राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार/ Per Rajendra A.M.- अनुसार Challenging The Order Dated 03/05/2013 Of The Cit(A)-7,Mumbai, The Assessing Officer(Ao) Has Filed The Present Appeal.Assessee-Company,Deriving Income From House Property, Filed Its Return Of Income On 18/10/2007, Declaring Loss Of Rs. 1.05 Crores.The Ao Completed The Assessment, Under Section 143 (3) Of The Act, On 4/12/2009, Determining Its Income At Rs.(-) 9.46 Lakhs.

For Appellant: NoneFor Respondent: Shri Saurabh Kumar Rai-DR
Section 143Section 22Section 254(1)

…them out. It had purchased a property, but could not sell it. Later on, it converted the property into commercial asset and provided various amenities to the tenant. We find that the Hon’ble Bombay High Court in the case of CIT vs. National Storage (P.) Ltd.(48 ITR 577),while laying down the principles to be followed in determining the particular head under which an income is to be assessed, has observed as under: "In cases where the income received is not from the bare letting of the tenement or from the letting accompanied by incidental services or facilities, but the subject hired out is a complex one and the…

BOMBAY PLAZA PVT. LTD.,KOLKATA vs. ACIT, CIR-5, KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

ITA 1641/KOL/2014[2006-2007]Status: DisposedITAT Kolkata02 Sept 2016AY 2006-2007

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ]

For Appellant: Shri A.K.Gupta, FCAFor Respondent: Shri S.M.daws, JCIT, Sr.DR
Section 143(3)Section 22Section 27

…nciples to be applied for treating income for letting out as to whether to be treated as income from house property or not have been laid down. • Karnani Properties Ltd. -vs;- CIT (1971) 82 ITR 547 (SC)(para 4.1) • CIT -vs.- National Storage (P.) Ltd. (1963) 48 ITR 577 (Born.) • Everest Hotels Limited -vs.- CIT (1978) 114 ITR 779 (Cal.) 8. The Assessee also submitted that an identical issue came up before the Hon'ble ITAT Kolkata in the case of Assessee's group concern, namely Oberoi Building & Investment Pvt Ltd for A.Y.2005-06 wherein the Hon'ble ITAT decided the issue in favour of the revenue by treating th…

ACIT CIR 12(3), MUMBAI vs. LAKE VIEW DEVELOPERS, MUMBAI

In the result, the Revenue’s appeal is allowed

ITA 4495/MUM/2013[2009-10]Status: DisposedITAT Mumbai28 Jul 2016AY 2009-10

Bench: Shri Sanjay Arora, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. No.3409/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) Lake View Developers Addl. Cit, Range 12(3), बनाम/ 514, Dalamal Towers, Mumbai 211 F.P.J. Marg, Nariman Point, Vs. Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaafl 0589 R (Assessee) : (Revenue) & आयकर अपील सं./I.T.A. No. 4495/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) बनाम/ Addl. Cit, Range 12(3), Lake View Developers Mumbai Mumbai-400 021 Vs. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaafl 0589 R (Revenue) (Assessee) : & आयकर अपील सं./I.T.A. No. 4496/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) Addl. Cit, Range 12(3), Omega Associates, बनाम/ Mumbai 514, Dalamal Tower, 211-F.P.J. Marg, Nariman Point, Vs. Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaafl 0589 R (Revenue) : (Assessee) : Shri Chetan Karia Revenue By Assessee By : Shri R. P. Rastogi सुनवाई क" तार"ख / : 03.5.2016 Date Of Hearing घोषणा क" तार"ख / : 28.7.2016 Date Of Pronouncement

For Appellant: Shri R. P. Rastogi
Section 143(3)Section 22

…d stand to be assessed as income from house property. 6 ITA Nos. 3409, 4495 &4496/Mum/2013 (A.Y. 2009-10) Lake View Developers & Omega Associates Ownership of house property, howsoever profitable, it was clarified in CIT vs. National Storage (P.) Ltd. [1963] 48 ITR 577, 594 (Bom) (since affirmed in [1967] 66 ITR 596 (SC)), cannot be business or trade under the Act. The legal aspect of the matter is thus clear. As regards the factual aspect, the same would normally require verification and determination at the end of the assessing authority and, accordingly, a restoration back to his file for the purpose, with th…

CIT v. National Storage (P.) Ltd. (48 ITR 577) — Cited in 12 Judgments | BharatTax