Devendra Motial Kothari 136 TTJ 188 (Mum) and Pradeep Kumar Harlalka v. ACIT

Krishnamurthy Thagarajan, Bangalore vs. ACIT RG 6(3), Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri Vikas Awasthy& Shri Amarjit Singhआअसं.1651/मुं/2013 (िन.व. 2008-09) Krishnamurthy Thiagarajan, No.41, 36Th Main Dollar Scheme, Btm Layout, 1St Stage, Bangalore – 560 068. Pan: Aadpk-5126-C ...... अपीलाथ"/Appellant बनाम Vs. The Acit, Circle 6(3),Mumbai, Room No.522 (5Th Floor), Aaykar Bhavan, M.K.Road, Mumbai – 400 020. ..... "ितवादी/Respondent Assessee By : Shri Miteshkumar Gupta, Ca With Shri V.Shivkumar, Ca Revenue By : Shri P.D.Chougule, Sr.Dr सुनवाई क" ितिथ/ Date Of Hearing : 20/02/2024 घोषणा क" ितिथ/ Date Of Pronouncement : 20/02/2024 आदेश/Order Per Vikas Awasthy, Jm: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax(Appeals)-12, Mumbai [In Short ‘The Cit(A)’] Dated 08/11/2012, For The Assessment Year 2008-09. 2. In Appeal Assessee Has Assailed Additions/Disallowances On Account Of: (I) Management Fee Paid To M/S. Bnp Paribas Investment Services India Pvt. Ltd. – Rs.1,71,028/-

…of deduction of Portfolio Management Fee for similar reasons as has been 5 expressed in the instant impugned order. The Revenue in the said case had also placed reliance on the decision of Homi K. Bhabha vs. ITO in ITA No.3287/Mum/2009 decided on 23/09/2011 [48 SOT 102 (Mum)]. The Tribunal after considering the contentions of both the sides held as under: “13. We have carefully considered the rival submissions and also the precedent in the assessee’s own case by way of the order of the Tribunal dated 25.07.2012 (supra). In the said case, the Tribunal considered the allowability of expenditure incurred by way of…

ACIT Cir 16(1), Mumbai vs. Apurva Mahesh Shah, Mumbai

The appeal of the revenue is allowed

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm Assistant Commissioner Of Income Sh. Apurva Mahesh Shah, 1403, Tax-16(1), Mumbai. Pleasant Palace, Narayan बिधम/ Dabholkar Road, Mumbai-400 Vs. 006. स्थामी रेखा सं./ जीआइआय सं./ Pan No. Abbps3726K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) :

…d capital gain, relied on the following orders of the coordinate benches of the Tribunal : i) Shri Homi K. Bhabha Vs. The ITO (Intl. Taxation), 3(1), Mumbai.[ITA No. 3287/Mum/2009, dated:28.09.2011] (ii) Pradeep Kumar Harlalka Vs. ACIT, Circle 12(3), Mumbai [143 TTJ 446 (Mum)] (iii) Capt. Avinash Chander Batra Vs. Dy. CIT, Range-2(3), Mumbai. [ITA No. 7407/Mum/2011, dated:30.03.2016] Per contra, the assessee who had put up an appearance in person relied on the order of the CIT(A). It was submitted by the assessee that as the portfolio management fees and portfolio linked fees were incurred wholly and exclusivel…

The DDIT (It)-2(1), Mumbai vs. M/S. Reliance Communication Ltd. ( Formerly Known As M/S. Reliance Infocomm Ltd ), Navi Mumbai

Bench: Shri R.C.Sharma, Am & Shri C.N. Prasad, Jm

…n of the majority of the members of the Appellate Tribunal who have heard the case, including those who first heard it...." 6. Our attention was also invited to the decision of the Hon'ble Mumbai Tribunal in the case of Homi K. Bhabha v. ITO (International) (48 SOT 102) wherein it has been held that "11. The arguments advanced by the assessee on merits are an attempt to persuade us for not following the aforenoted view taken against the assessee. We are not impressed with this argument. Judicial discipline requires that when a particular issue has been decided by a bench, then the subsequent co-ordinate benches…

Nadir A Modi, Mumbai vs. Asst CIT 11(3), Mumbai

In the result both the appeals filed by the assessee are hereby

Bench: Shri G.S.Pannu, Am & Shri Amarjit Singh, Jm आयकरअपीलसं/I.T.A. No.2996/Mum/2010 & 4859/Mum/2012 (िनधा"रणवष" / Assessment Year: 2005-06) बनाम/ Shri Nadir A. Modi Joint Commissioner Of Office No.111, Income Tax 11(3) Vs. Prospect Chamber, Mumbai Dr. D.N.Road, Fort, Mumbai – 400 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaqpm8991C (अपीलाथ"/Appellant) (""थ" /Respondent) ..

…. ITA No.2996/M/10 & 4859.M.12 A.Y. 2005-06 7. However it is also argued that there are some contrary decision of the Tribunal such as Devendra Motial Kothari 136 TTJ 188 (Mum) and Pradeep Kumar Harlalka Vs. ACIT 143 TTJ 446 (Mum.) and Homi K. Bhabha Vs. ITO 48 SOT 102 (Mum.). It is also argued that where two views are possible then the view in favour of the assessee is liable to be considered in accordance with law. However, on the other hand the learned departmental representative has placed reliance on the order passed by the CIT(A) in question. On appraisal of the above mentioned law it is not in dispute tha…

Nadir A. Modi, Mumbai vs. Jt.CIT-11(3), Mumbai

In the result both the appeals filed by the assessee are hereby

Bench: Shri G.S.Pannu, Am & Shri Amarjit Singh, Jm आयकरअपीलसं/I.T.A. No.2996/Mum/2010 & 4859/Mum/2012 (िनधा"रणवष" / Assessment Year: 2005-06) बनाम/ Shri Nadir A. Modi Joint Commissioner Of Office No.111, Income Tax 11(3) Vs. Prospect Chamber, Mumbai Dr. D.N.Road, Fort, Mumbai – 400 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaqpm8991C (अपीलाथ"/Appellant) (""थ" /Respondent) ..

…. ITA No.2996/M/10 & 4859.M.12 A.Y. 2005-06 7. However it is also argued that there are some contrary decision of the Tribunal such as Devendra Motial Kothari 136 TTJ 188 (Mum) and Pradeep Kumar Harlalka Vs. ACIT 143 TTJ 446 (Mum.) and Homi K. Bhabha Vs. ITO 48 SOT 102 (Mum.). It is also argued that where two views are possible then the view in favour of the assessee is liable to be considered in accordance with law. However, on the other hand the learned departmental representative has placed reliance on the order passed by the CIT(A) in question. On appraisal of the above mentioned law it is not in dispute tha…

Dr. Narendra D. Desai, Mumbai vs. ACIT Crn Cir 34, Mumbai

In the result, all appeals of assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita No.5157 To 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 To 2008-09) Dr. Narendra D. Desai, Vs. Acit, Cc-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aacpd 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By Shri N.P.Singh : सुनवाई की तायीख / Date Of Hearing : 31/03/2016 घोषणा की तायीख/Date Of Pronouncement 11/05/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Assessee Against The Order Of Cit(A)-Mumbai, For The Assessment Years 2006-07 To 2008-09, In The Matter Of Order Passed U/S.143(3) R.W.S.153A Of The Act. 2. Common Grievance Of The Assessee In All The Years Pertains To Disallowance Of Claim Of Management Fees While Computing Short Term Capital Gain U/S.48 Of The I.T.Act. 3. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That Assessee Is An Individual, Shown Income Under The Head Short Term Capital Gain. While Computing The Same Assessee Has Claimed

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ ‘फी’, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI MAHAVIR SINGH, JM आमकय अऩीर सं./ITA No.5157 to 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 to 2008-09) Dr. Narendra D. Desai, Vs. ACIT, CC-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACPD 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee by : Shri Vijay Mehta याजस्व की ओर से /Revenue by Shri N.P.Singh : सुनवाई की तायीख / Date of Hearin…

Dr. Narendra D. Desai, Mumbai vs. ACIT Crn Cir 34, Mumbai

In the result, all appeals of assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita No.5157 To 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 To 2008-09) Dr. Narendra D. Desai, Vs. Acit, Cc-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aacpd 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By Shri N.P.Singh : सुनवाई की तायीख / Date Of Hearing : 31/03/2016 घोषणा की तायीख/Date Of Pronouncement 11/05/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Assessee Against The Order Of Cit(A)-Mumbai, For The Assessment Years 2006-07 To 2008-09, In The Matter Of Order Passed U/S.143(3) R.W.S.153A Of The Act. 2. Common Grievance Of The Assessee In All The Years Pertains To Disallowance Of Claim Of Management Fees While Computing Short Term Capital Gain U/S.48 Of The I.T.Act. 3. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That Assessee Is An Individual, Shown Income Under The Head Short Term Capital Gain. While Computing The Same Assessee Has Claimed

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ ‘फी’, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI MAHAVIR SINGH, JM आमकय अऩीर सं./ITA No.5157 to 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 to 2008-09) Dr. Narendra D. Desai, Vs. ACIT, CC-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACPD 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee by : Shri Vijay Mehta याजस्व की ओर से /Revenue by Shri N.P.Singh : सुनवाई की तायीख / Date of Hearin…

Dr. Narendra D. Desai, Mumbai vs. ACIT Crn Cir 34, Mumbai

In the result, all appeals of assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आमकय अऩीर सं./Ita No.5157 To 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 To 2008-09) Dr. Narendra D. Desai, Vs. Acit, Cc-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aacpd 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By Shri N.P.Singh : सुनवाई की तायीख / Date Of Hearing : 31/03/2016 घोषणा की तायीख/Date Of Pronouncement 11/05/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Assessee Against The Order Of Cit(A)-Mumbai, For The Assessment Years 2006-07 To 2008-09, In The Matter Of Order Passed U/S.143(3) R.W.S.153A Of The Act. 2. Common Grievance Of The Assessee In All The Years Pertains To Disallowance Of Claim Of Management Fees While Computing Short Term Capital Gain U/S.48 Of The I.T.Act. 3. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That Assessee Is An Individual, Shown Income Under The Head Short Term Capital Gain. While Computing The Same Assessee Has Claimed

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ ‘फी’, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI MAHAVIR SINGH, JM आमकय अऩीर सं./ITA No.5157 to 5159/Mum/2010 (नििाारण वषा / Assessment Year : 2006-07 to 2008-09) Dr. Narendra D. Desai, Vs. ACIT, CC-34, Mumbai Apar House, Corporate Park, Building No.5, Sion Trombay Road, Chembur, Mumbai- 400071 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AACPD 5020 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee by : Shri Vijay Mehta याजस्व की ओर से /Revenue by Shri N.P.Singh : सुनवाई की तायीख / Date of Hearin…