Foramer v. CIT (247 ITR 436), Idea Cellular Ltd. v. DCIT (301 ITR 407), Asian Paints Ltd. v. DCIT (

DCIT, MUMBAI vs. KOTAK MAHINDRA BANK LIMITED, MUMBAI

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

…w material, based on which the reopening of the assessment is done. Considering the decisions of Hon'ble Jurisdictional Bombay High Court in the case of GKN Sinter Metals Ltd s. ACIT (371 ITR 225) and in the case of ICICI Home Finance Ltd vs. ACIT reported in 25 Taxmann.com 241 and the decision of Hon'ble Supreme Court of India in the case of ACIT vs. ICICI Securities Primary Dealership Ltd (24 taxmann.com 310). The contention of the appellant is found to be correct. I find that the re- opening of the assessment merely change of opinion and there is no new tangible material is brought on record by the AO. In this…

NAROTAM SEKHSARIA ,MUMBAI vs. ACIT 17 (2) , MUMBAI

In the result, ground 1 along with the additional ground challenging the validity of reopening of assessment under section 147 of the Act is allowed

Bench: Shri Saktijit Dey () & Shri M. Balaganesh ()

…1 ITA 5836/Mum//2019 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI M. BALAGANESH (ACCOUNTANT MEMBER) I.T.A. No.5836/Mum/2019 (Assessment year 2009-10) Narottam Sekhsaria vs ACIT-17(2), Mumbai (On behalf of NSEK Partners, since dissolved), 11-A, Mittal Chambers Nariman Point, Mumbai-400 021 PAN : AAGFN7118J APPELLANT RESPONDENT Appellant by Shri Jay Bhansali, AR Respondent by Shri Tharien Oommen, DR Date of hearing 06-05-2021 Date of pronouncement 04-06-2021 O R D E R Per Saktijit Dey, JM: This is an appeal by the assessee against order dated 28-0…

DCIT CEN CIR 7(3), MUMBAI vs. LODHA CONSTRUCTION (DOMBIVALI), MUMBAI

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood () Dcit, Central Circle-7(3) M/S Lodha Contruction Room No. 655, 6Th Floor, Vs. (Dombivali),216, Aayakar Bhavan, Shah & Nahar M.K. Road, Industrial Road, Mumbai – 400 020 Off. Dr.E.Moses Road, Worli, Mumbai – 400 018 Pan No. Aabfl3409M (Assessee) (Revenue) Assessee By : Shri Brajendra Kumar, D.R Revenue By : Ms. Aarti Sathe, A.R Date Of Hearing : 21/01/2021 Date Of Pronouncement : 28/01/2021

…ITA No. 7041/Mum/2016 A.Y. 2009-10 1 DCIT, CC-7(3) Vs. M/s Lodha Construction (Dombivali) IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI S.RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) DCIT, Central Circle-7(3) M/s Lodha Contruction Room No. 655, 6th Floor, Vs. (Dombivali),216, Aayakar Bhavan, Shah and Nahar M.K. Road, Industrial Road, Mumbai – 400 020 Off. Dr.E.Moses Road, Worli, Mumbai – 400 018 PAN No. AABFL3409M (Assessee) (Revenue) Assessee by : Shri Brajendra Kumar, D.R Revenue by : Ms. Aarti Sathe, A.R Date of Hearing : 21/01/2021 Date of pronouncem…

ASST CIT 24(3), MUMBAI vs. NANAVATI CONSTRUCTIONS, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy & Shri Rajesh Kumarassessment Year: 2009-10

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER Assessment Year: 2009-10 ACIT 24(3), M/s. Nanavati Office of the ACIT-24(3), Constructions, R.No.413, 52, Sarvodya Indl. Estate, 4TH Floor, Vs. Mahakali Caves Road, Piramal Chambers, Andheri (East), Lalbaug, Mumbai- 400 093 Parel, PAN: AAFFN9695M Mumbai – 400 012 (Appellant) (Respondent) Present for: Assessee by : Shri B.V. Jhaveri, A.R. Revenue by : Ms. Kavita P. Kaushik, D.R. Date of Hearing : 12.09.2019 Date of Pronouncement : 19.12.2019 O R D E R Per Rajesh K…

DCIT CIR 3(1), MUMBAI vs. ICICI BANK LTD, MUMBAI

Bench: Hon’Ble Shri Saktijit Dey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.5191/Mum/2009 (िनधा"रण वष" / Assessment Year: 2004-05) Dcit-Circle 3(1) Icici Bank Limited बनाम Room No.607, 6Th Floor नाम/ नाम नाम Icici Bank Towers Aaykar Bhavan Bandra-Kurla Complex Vs. Mumbai-400 020. Mumbai-400 051. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci-1195-H (अपीलाथ" / Appellant) (ू"यथ" / Respondent) : & C.O. No.127/Mum/2010 [Arising Out Of I.T.A. No.5191/Mum/2009] (िनधा"रण वष" / Assessment Year: 2004-05) Icici Bank Limited Dcit-Circle 3(1) बनाम नाम नाम/ नाम Room No.607, 6Th Floor Icici Bank Towers Bandra-Kurla Complex Aaykar Bhavan Vs. Mumbai-400 051. Mumbai-400 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci 1195 H (""ा"ेप ""ा"ेप ""ा"ेप /Cross Objector) ""ा"ेप (ू"यथ" / Respondent) :

…1 ICICI Bank Limited Assessment Year-2004-05 आयकर अपीलीय अिधकरण “सी” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI माननीय "ी श""जीत दे, "ाियक सद" एवं माननीय माननीय माननीय माननीय "ी मनोज कुमार अ"वाल, लेखा सद" के सम"। माननीय माननीय माननीय BEFORE HON’BLE SHRI SAKTIJIT DEY, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ I.T.A. No.5191/Mum/2009 (िनधा"रण वष" / Assessment Year: 2004-05) DCIT-Circle 3(1) ICICI Bank Limited बनाम Room No.607, 6th Floor नाम/ नाम नाम ICICI Bank Towers Aaykar Bhavan Bandra-Kurla Complex Vs. Mumbai-400 020. Mumbai-400 051. "थायीलेखासं./जीआइआरसं./PAN/GIR…

DCIT 14(20(1), MUMBAI vs. ICICI HOME FINANCE CO.LTD, MUMBAI

Bench: Shri G.Manjunatha & Shri Ravish Sooddcit-14(2)(1),432, 4Th Floor, M/S Icici Home Finance Co. Ltd. Aaykar Bhavan, 7Th Floor, West Wing South Tower, Mumbai-400 020 Vs. Icici Bank Towers, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 Pan – Aaaci6285N (Appellant) (Respondent) C.O. No. 81/Mum/2018 (Arising Out Of Ita No.7223/Mum/2016) (Assessment Year: 2009-10)

…P a g e | 1 ITA No.7223/Mum/2016 A.Y. 2009-10 C.O No.81/Mum/2018 DCIT Vs. M/s ICICI Home Finance Co. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL “C” Bench, Mumbai Before Shri G.Manjunatha, Accountant Member and Shri Ravish Sood, Judicial Member DCIT-14(2)(1),432, 4th Floor, M/s ICICI Home Finance Co. Ltd. Aaykar Bhavan, 7th Floor, West Wing South Tower, Mumbai-400 020 Vs. ICICI Bank Towers, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 PAN – AAACI6285N (Appellant) (Respondent) C.O. No. 81/Mum/2018 (Arising out of ITA No.7223/Mum/2016) (Assessment Year: 2009-10) M/s ICICI Home Finance Co. DCIT-14(2)(1),43…

DCIT 2(3)(2), MUMBAI vs. SHEBA PROPERTIES LTD, MUMBAI

In the result, the Revenue’s appeals stands dismissed

Bench: Shri Shamim Yahya, Am & Ram Lal Negi, Jm आयकर अपील सं./I.T.A. Nos. 660 To 664/Mum/2016 ("नधा"रण वष" / Assessment Year: 2008-09 To 2012-13) Tata Motors Finance Limited Dy. Cit (Osd), 2(3) 5Th Floor, Aayakar Bhavan, (Formerly Known As Sheba Properties बनाम/ Limited) M. K. Marg, Mumbai -400 020 10Th Floor, 106A & B, Maker Chambers Vs. Iii, Nariman Point, Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaecs 0591 F (अपीलाथ" /Appellant) (""यथ" / Respondent) : आयकर अपील सं./I.T.A. Nos. 699 To 703/Mum/2016 ("नधा"रण वष" / Assessment Years: 2009-10, 2010-11, 2012-13, 2008-09, 2011-12) Dy. Cit, Circle-2(3)(2), Tata Motors Finance Limited Room No. 552, 5Th Floor, (Formerly Known As Sheba बनाम/ Aayakar Bhavan, M. K. Marg, Properties Limited) 3Rd Floor, Nanavati Mahalaya, 18 Mumbai -400 020 Vs. Homi Mody Street, Fort, Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaecs 0591 F (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri R. R. Vohra & Shri Nikhil Tiwari ""यथ" क" ओर से/Respondent By : Shri V. Justin

…relied on several judicial pronouncements including the decisions in Kelvinator of India Ltd. (320 ITR 561), Foramer v. CIT (247 ITR 436), Idea Cellular Ltd. v. DCIT (301 ITR 407), Asian Paints Ltd. v. DCIT (308 ITR 195), ICICI Home Finance Co. Ltd. v. ACIT (25 Taxmann.com 241) etc. 4,4 I have considered the facts of the case and the submissions of the appellant. I have also gone through the decisions relied on by the Ld. AR. I have also gone through the reasons recorded for re-opening of the original assessment order passed by the A.O. The reasons recorded by the A.O. to re-open the assessment is as under:- "Th…

SHEBA PROPERTIES LTD,MUMBAI vs. DCIT (OSD) 2(3), MUMBAI

In the result, the Revenue’s appeals stands dismissed

Bench: Shri Shamim Yahya, Am & Ram Lal Negi, Jm आयकर अपील सं./I.T.A. Nos. 660 To 664/Mum/2016 ("नधा"रण वष" / Assessment Year: 2008-09 To 2012-13) Tata Motors Finance Limited Dy. Cit (Osd), 2(3) 5Th Floor, Aayakar Bhavan, (Formerly Known As Sheba Properties बनाम/ Limited) M. K. Marg, Mumbai -400 020 10Th Floor, 106A & B, Maker Chambers Vs. Iii, Nariman Point, Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaecs 0591 F (अपीलाथ" /Appellant) (""यथ" / Respondent) : आयकर अपील सं./I.T.A. Nos. 699 To 703/Mum/2016 ("नधा"रण वष" / Assessment Years: 2009-10, 2010-11, 2012-13, 2008-09, 2011-12) Dy. Cit, Circle-2(3)(2), Tata Motors Finance Limited Room No. 552, 5Th Floor, (Formerly Known As Sheba बनाम/ Aayakar Bhavan, M. K. Marg, Properties Limited) 3Rd Floor, Nanavati Mahalaya, 18 Mumbai -400 020 Vs. Homi Mody Street, Fort, Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaecs 0591 F (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri R. R. Vohra & Shri Nikhil Tiwari ""यथ" क" ओर से/Respondent By : Shri V. Justin

…relied on several judicial pronouncements including the decisions in Kelvinator of India Ltd. (320 ITR 561), Foramer v. CIT (247 ITR 436), Idea Cellular Ltd. v. DCIT (301 ITR 407), Asian Paints Ltd. v. DCIT (308 ITR 195), ICICI Home Finance Co. Ltd. v. ACIT (25 Taxmann.com 241) etc. 4,4 I have considered the facts of the case and the submissions of the appellant. I have also gone through the decisions relied on by the Ld. AR. I have also gone through the reasons recorded for re-opening of the original assessment order passed by the A.O. The reasons recorded by the A.O. to re-open the assessment is as under:- "Th…