Gareware Wall Ropes Ltd. v. ACIT

ASST CIT 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

Bench: Smt. Beena Pillai () & Shri Jagadish ()

…Securities Ltd. I.T. Act, 1961 1131 of 2013. Further investment in subsidiaries which are strategic in nature and also fully owned subsidiaries are to be excluded in view of the Mumbai Tribunal's decision in the case of Gareware Wall Ropes Ltd. v. ACIT (2014) 46 Taxmann.com 18) and J M Financial Ltd. (I.T. Act, 1961 No. 4521/Mum/2012). So in computation of 0.5% of average investment, AO is directed to exclude the stock in trade of the appellant and strategic investments in subsidiaries and fully owned bank subsidiary and after this AO may recalculate the amount. However, the disallowance shall not be below the am…

STATE BANK OF INDIA,MUMBAI vs. ASST CIT CIR 2(2), MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

Bench: Smt. Beena Pillai () & Shri Jagadish ()

…Securities Ltd. I.T. Act, 1961 1131 of 2013. Further investment in subsidiaries which are strategic in nature and also fully owned subsidiaries are to be excluded in view of the Mumbai Tribunal's decision in the case of Gareware Wall Ropes Ltd. v. ACIT (2014) 46 Taxmann.com 18) and J M Financial Ltd. (I.T. Act, 1961 No. 4521/Mum/2012). So in computation of 0.5% of average investment, AO is directed to exclude the stock in trade of the appellant and strategic investments in subsidiaries and fully owned bank subsidiary and after this AO may recalculate the amount. However, the disallowance shall not be below the am…

ASST CIT CIR 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

…Securities Ltd. I.T. Act, 1961 1131 of 2013. Further investment in subsidiaries which are strategic in nature and also fully owned subsidiaries are to be excluded in view of the Mumbai Tribunal's decision in the case of Gareware Wall Ropes Ltd. v. ACIT (2014) 46 Taxmann.com 18) and J M Financial Ltd. (IT Act, 1961 No. 4521/Mum/2012) So in computation of 0.5% of average investment, AO is directed to exclude the stock in trade of the appellant and strategic investments in subsidiaries and fully owned bank subsidiary and after this AO may recalculate the amount. However, the disallowance shall not be below the amoun…

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

…Securities Ltd. I.T. Act, 1961 1131 of 2013. Further investment in subsidiaries which are strategic in nature and also fully owned subsidiaries are to be excluded in view of the Mumbai Tribunal's decision in the case of Gareware Wall Ropes Ltd. v. ACIT (2014) 46 Taxmann.com 18) and J M Financial Ltd. (IT Act, 1961 No. 4521/Mum/2012) So in computation of 0.5% of average investment, AO is directed to exclude the stock in trade of the appellant and strategic investments in subsidiaries and fully owned bank subsidiary and after this AO may recalculate the amount. However, the disallowance shall not be below the amoun…

ALKYL AMINES CHEMICALS LTD,NAVI MUMBAI vs. DY CIT (OSD) 10(3), MUMBAI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Alkyl Amines Chemicals Ld., V. Dcit (Osd)-10(3) 401-407, Nirman Vyapar Kendra Room No. 517, 4Th Floor Plot No. 10, Sector – 17 Aayakar Bhavan, M.K. Road Vashi, Navi Mumbai – 400703 Mumbai - 400020 Pan: Aaaca6783F (Appellant) (Respondent) Assessee By : Ms. Shruti Agarwal Department By : Shri Mehul Jain

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON'BLE JUDICIAL MEMBER M/s. Alkyl Amines Chemicals Ld., v. DCIT (OSD)-10(3) 401-407, Nirman Vyapar Kendra Room No. 517, 4th Floor Plot No. 10, Sector – 17 Aayakar Bhavan, M.K. Road Vashi, Navi Mumbai – 400703 Mumbai - 400020 PAN: AAACA6783F (Appellant) (Respondent) Assessee by : Ms. Shruti Agarwal Department by : Shri Mehul Jain Date of Hearing : 07.06.2022 Date of Pronouncement : 14.07.2022 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the assessee ag…

DCIT CEN CIR 8(2), MUMBAI vs. UNITY REALTY & DEVELOPERS LTD, MUMBAI

Bench: Shri Pawan Singh, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 79/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2013-14)

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JM & SHRI S. RIFAUR RAHMAN, AM आयकरअपीलसं./ I.T.A. No. 79/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2013-14) M/s Unity Realty & DCIT Cen Cir 8(2), Developers Ltd. 6th floor, R. No. 658, बिधम/ K. K. Tower, Parek Tank Aayakar Bhavan, M. K. Road, G. D. Ambedkar Vs. Road, Mumbai-400 020 Marg, Parel Village, Mumbai-400 012 स्थायीलेखासं./जीआइआरसं./PAN No. AAACU8860B (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri Sushil Kumar Poddar, DR by प्रत्यथीकीओरसे/Respondentby : Shri Rakesh Mohan, AR सुनवाईकीतारीख/ : 02…

ACIT 16(1), MUMBAI vs. INDUSIND MEDIA & COMMUNICATON LTD, MUMBAI

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.772/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Income Tax- Indusind Media & Communication Ltd. बनाम/ 16(1) In Centre, 49/50,Midc,12Th Road Room No.439, Aaykar Bhavvan, M.K.Road, Andheri (E), Mumbai-400 093 Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.1167/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Indusind Media & Communication Ltd. Assistant Commissioner Of Income Tax- बनाम/ In Centre, 49/50,Midc,12Th Road 16(1) Andheri (E), Mumbai-400 093 Room No.439, Aaykar Bhavvan, M.K.Road, Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) :

…o the fact that the assessee contested the stand of revenue qua disallowance u/s 14A in AY 2009-10 before this Tribunal vide ITA No. 356/Mum/2013 dated 29/01/2016 where the matter, considering the ratio of this Tribunal rendered in in Garware Wall Ropes Ltd. [46 Taxmann.com 18], was remitted back to the file of Ld. AO with certain directions. Qua loan processing fees, the Ld. AR primarily contended that the nature and purpose of loan was irrelevant for determining its allowability and therefore, the same was allowable to the assessee. Reliance has been placed on the decision of Hon’ble Supreme Court in India Ceme…

DCIT CIR 2(2)(1), MUMBAI vs. INFINA FINANCE P.LTD, MUMBAI

Appeal stands dismissed

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am

…find that the predominant object of the strategic investment is to earn business profits and not to earn exempt income thereupon and the same also stood covered in assessee’s favor by the decision of this Tribunal rendered in Garware Wall Ropes Ltd. Vs. ACIT [46 Taxmann.com 18]. The revenue could not point out any contrary decision of higher authority to controvert the same. Hence, we do not find any infirmity in the order of Ld. CIT(A). 8. Resultantly, the revenue’s appeal stands dismissed. Order pronounced in the open court on 17th January, 2018. (C. N. Prasad) (Manoj Kumar Aggarwal) "ाियक सद" / Judicial Memb…

INDUSIND MEDIA & COMMUNICATIONS LTD,MUMBAI vs. ACIT 16(1), MUMBAI

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.772/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Income Tax- Indusind Media & Communication Ltd. बनाम/ 16(1) In Centre, 49/50,Midc,12Th Road Room No.439, Aaykar Bhavvan, M.K.Road, Andheri (E), Mumbai-400 093 Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.1167/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Indusind Media & Communication Ltd. Assistant Commissioner Of Income Tax- बनाम/ In Centre, 49/50,Midc,12Th Road 16(1) Andheri (E), Mumbai-400 093 Room No.439, Aaykar Bhavvan, M.K.Road, Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) :

…o the fact that the assessee contested the stand of revenue qua disallowance u/s 14A in AY 2009-10 before this Tribunal vide ITA No. 356/Mum/2013 dated 29/01/2016 where the matter, considering the ratio of this Tribunal rendered in in Garware Wall Ropes Ltd. [46 Taxmann.com 18], was remitted back to the file of Ld. AO with certain directions. Qua loan processing fees, the Ld. AR primarily contended that the nature and purpose of loan was irrelevant for determining its allowability and therefore, the same was allowable to the assessee. Reliance has been placed on the decision of Hon’ble Supreme Court in India Ceme…

AF-TAAB INVESTMENT COMPANY LTD,MUMBAI vs. DCIT CIR 6(1), MUMBAI

In the result, the assessee‟s appeal is allowed for statistical purposes while Revenue appeal is dismissed

Bench: Shri D.T. Garasia & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08)

…ITA No. 1807/M/2011,1812/M/2011, 4284/M/2014,7069/M/2013, 6546/M/2014,6573/M/2014, 7128/M/2014 आयकर अपीऱीय अधिकरण “A” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08) बिाम/ ACIT Circle 6(1),Room No. Af-taab Investment Company Limited, 506, 5 th Floor, Aayakar Corporate Centre, Bhawan v. „B‟ Block, M K Road 34 Carnac Bunder, Mumbai 400020 Mumbai 400009 स्थायी ऱेखा सं./ PAN : AAACA4800H आयकर अपीऱ सं…

ACIT CIR 6(1), MUMBAI vs. AFTAB INVESTMENT CO. LTD, MUMBAI

In the result, the assessee‟s appeal is allowed for statistical purposes while Revenue appeal is dismissed

Bench: Shri D.T. Garasia & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08)

…ITA No. 1807/M/2011,1812/M/2011, 4284/M/2014,7069/M/2013, 6546/M/2014,6573/M/2014, 7128/M/2014 आयकर अपीऱीय अधिकरण “A” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08) बिाम/ ACIT Circle 6(1),Room No. Af-taab Investment Company Limited, 506, 5 th Floor, Aayakar Corporate Centre, Bhawan v. „B‟ Block, M K Road 34 Carnac Bunder, Mumbai 400020 Mumbai 400009 स्थायी ऱेखा सं./ PAN : AAACA4800H आयकर अपीऱ सं…

RELIANCE INFRASTRUCTURE LTD,MUMBAI vs. ADDL CIT RG 10(1) NOW DCIT CIR 14(3)(1), MUMBAI

In the result, the appeal of the Revenue is dismissed and that of the assessee is allowed for statistical purposes

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Dy. Commissioner Of Income Tax M/S Reliance Infrastructure 14(3)(1), 453, 4Th Floor, Aayakar Ltd. Bhavan, Mumbai-20 Reliance Energy Centre Vs. Santacruz East, Mumbai- 400055 Pan No. Aaccr7445Q Appellant .. Respondent M/S Reliance Infrastructure Ltd. Dy. Commissioner Of Income Tax Reliance Energy Centre 14(3)(1), 453, 4Th Floor, Aayakar Santacruz East, Mumbai- Vs. Bhavan, Mumbai-20 400055 Pan No. Aaccr7445Q Appellant .. Respondent

…isallowance of interest and expenses under Rule 8D(2)(ii) and 8D(2)(iii) should not he made with respect to investment which are made in the subsidiary company of the appellant. The appellant had relied on the decision of Garware Wall Ropes Ltd. vs. Addl. CIT 46 Taxmann.com 18, J. M Financial Ltd. vs. Addl. CIT ITA No.4521/MUM/2012 dtd. 26.03.2014. On examination (the above cases, the ITAT held that investments in subsidiary companies were investments were made for controlling stake, no disallowance can be made under section I4A r.w. Rule RD(2)(ii) and 8D(2)(iii). Hence, following the ab' decisions, the A.O. is d…

DCIT 14(3)(1), MUMBAI vs. RELIANCE INFRSTRUCTURE LTD, MUMBAI

In the result, the appeal of the Revenue is dismissed and that of the assessee is allowed for statistical purposes

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Dy. Commissioner Of Income Tax M/S Reliance Infrastructure 14(3)(1), 453, 4Th Floor, Aayakar Ltd. Bhavan, Mumbai-20 Reliance Energy Centre Vs. Santacruz East, Mumbai- 400055 Pan No. Aaccr7445Q Appellant .. Respondent M/S Reliance Infrastructure Ltd. Dy. Commissioner Of Income Tax Reliance Energy Centre 14(3)(1), 453, 4Th Floor, Aayakar Santacruz East, Mumbai- Vs. Bhavan, Mumbai-20 400055 Pan No. Aaccr7445Q Appellant .. Respondent

…isallowance of interest and expenses under Rule 8D(2)(ii) and 8D(2)(iii) should not he made with respect to investment which are made in the subsidiary company of the appellant. The appellant had relied on the decision of Garware Wall Ropes Ltd. vs. Addl. CIT 46 Taxmann.com 18, J. M Financial Ltd. vs. Addl. CIT ITA No.4521/MUM/2012 dtd. 26.03.2014. On examination (the above cases, the ITAT held that investments in subsidiary companies were investments were made for controlling stake, no disallowance can be made under section I4A r.w. Rule RD(2)(ii) and 8D(2)(iii). Hence, following the ab' decisions, the A.O. is d…

SHAILESH SHAH SECURITIES P.LTD,MUMBAI vs. ASST CIT CIR 4(2), MUMBAI

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri B.R. Baskaran (Am)& Ramlal Negi (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” Bench, Mumbai Before Shri B.R. Baskaran (AM)& Ramlal Negi (JM) I.T.A. No. 1027/Mum/2015 (Assessment Year 2010-11) M/s. Shailesh Shah ACIT Circle 4(2) Securities Pvt. Ltd. Vs. Aayakar Bhavan 301-308, Veer Desai Road M.K. Road Andheri West Mumbai-400 020. Mumbai-400 058. (Appellant) (Respondent) PAN No.AAECS3607E Assessee by Shri Neelkanth Khandelwal Department by Shri Aarsi Prasad Date of Hearing 11.4.2017 Date of Pronouncement 11.4.2017 O R D E R Per B.R. Baskaran (AM) :- The appeal filed by the assessee is directed against the order dated 19.12.2014 passed by the…

BCD TRAVELS INDIA P.LTD,MUMBAI vs. DCIT 9(2)(1) EARLIER ADDL CIT 8(1), MUMBAI

In the result, appeal filed by the assessee for assessment year 2009-2010

Bench: Shri Rajendra, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./Ita No.1521/Mum/2015 ("नधा"रण वष" / Assessment Year: 2009-10)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ ‘एच’, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “H”, BENCH MUMBAI सव"ी राजे"", लेखा सद"य, एवं, राम लाल नेगी "या"यक सद"य के सम" । BEFORE SHRI RAJENDRA, AM AND SHRI RAM LAL NEGI, JM आयकर अपील सं./ITA No.1521/Mum/2015 ("नधा"रण वष" / Assessment Year: 2009-10) M/s. BCD Travels India Pvt. Vs. The Dy. Commissioner of Ltd., Level – 2, Office No.- 3B, B Income Tax, Range- 9(2) (1), Wing, Times Square, Earlier Addl. CIT-8 (1), Andheri Kurla Road, Aayakar Bhavan, Marol, Andheri (East), Mumbai - 400012 Mumbai- 400059 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACF1613R ) (""यथ" / Respon…

PANKAJ D. SHAH,MUMBAI vs. ACIT 21(1), MUMBAI

Appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad () & Shri Ashwani Taneja () I.T.A. No.4494/Mum/2014 (Assessment Year : 2010-11) Shri Pankaj D Shah Vs Acit 21(1), Mumbai 60-B, Dolat, East West Road No.2 Jvpd, Vile Parle (W), Mumbi-49 Pan : Aaafps1913H (Appellant) (Respondent)

…1 I.T.A. No.4494/Mum/2014 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “C”, MUMBAI BEFORE SHRI C.N. PRASAD (JUDICIAL MEMBER) AND SHRI ASHWANI TANEJA (ACCOUNTANT MEMBER) I.T.A. No.4494/Mum/2014 (Assessment Year : 2010-11) Shri Pankaj D Shah vs ACIT 21(1), Mumbai 60-B, Dolat, East West Road No.2 JVPD, Vile Parle (W), MumbI-49 PAN : AAAFPS1913H (Appellant) (Respondent) Appellant by Shri Neelkant Khandelwal Respondent by Shri Airiju Jaikaran Date of hearing : 15-09-2016 Date of pronouncement : 21-09-2016 O R D E R Per ASHWANI TANEJA, AM This appeal has been filed by the assessee against the order of Commis…

DCIT 3(2), MUMBAI vs. INDIABULLS WHOLESALE SERVICES LTD, MUMBAI

In the result the appeals of the revenue stand dismissed and the appeal of the assessee is allowed

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly Knows As Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now Known As M K Road, M/S Store One Retails India Mumbai-400020 (Ltd),11Th Floor, Indiabulls Finance Centre, Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aadcp5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) बनधम/ M/S Indiabulls Wholesale Dy.Commissioner Of Income Tax- 3(2), Services Ltd, Vs. Aayakar Bhavan, M-62 & 63, 1St Floor, M K Road, Connaught Place, Mumbai-400020 New Delhi-110001 आयकर अपीऱ सं./I.T.A. No.6081/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Wholesale Tax-3(2), Services Ltd, Vs. Room No.674, 6Th Floor, 14Th Floor, Aayakar Bhavan, Indiabulls Finance Centre, M K Road, Tower No.1, Plot No.612-613, Mumbai-400020 Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aabci7129N अपीऱार्थी ओर से / Revenue By Shri Javed Akhatar प्रत्यर्थी की ओर से/ Assessee By S/Shri Jitendra Sangvi & Amit Khatiwalla

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “आई” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner of Income बनधम/ M/s Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly knows as Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now known as M K Road, M/s Store One Retails India Mumbai-400020 (Ltd),11th floor, Indiabulls Finance Centre, Elibhinstone road (W), Mumbai-400013 स्थधयी ऱेखध सं./ PAN : AADCP5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (नन…

INDIABULLS WHOLESALE SERVICES LTD,NEW DELHI vs. DCIT CIR 3(2), MUMBAI

In the result the appeals of the revenue stand dismissed and the appeal of the assessee is allowed

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly Knows As Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now Known As M K Road, M/S Store One Retails India Mumbai-400020 (Ltd),11Th Floor, Indiabulls Finance Centre, Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aadcp5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) बनधम/ M/S Indiabulls Wholesale Dy.Commissioner Of Income Tax- 3(2), Services Ltd, Vs. Aayakar Bhavan, M-62 & 63, 1St Floor, M K Road, Connaught Place, Mumbai-400020 New Delhi-110001 आयकर अपीऱ सं./I.T.A. No.6081/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Wholesale Tax-3(2), Services Ltd, Vs. Room No.674, 6Th Floor, 14Th Floor, Aayakar Bhavan, Indiabulls Finance Centre, M K Road, Tower No.1, Plot No.612-613, Mumbai-400020 Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aabci7129N अपीऱार्थी ओर से / Revenue By Shri Javed Akhatar प्रत्यर्थी की ओर से/ Assessee By S/Shri Jitendra Sangvi & Amit Khatiwalla

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “आई” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner of Income बनधम/ M/s Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly knows as Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now known as M K Road, M/s Store One Retails India Mumbai-400020 (Ltd),11th floor, Indiabulls Finance Centre, Elibhinstone road (W), Mumbai-400013 स्थधयी ऱेखध सं./ PAN : AADCP5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (नन…

DCIT CIR 7(1), MUMBAI vs. INDIABULLS RETAIL SERVICE LTD, MUMBAI

In the result the appeals of the revenue stand dismissed and the appeal of the assessee is allowed

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly Knows As Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now Known As M K Road, M/S Store One Retails India Mumbai-400020 (Ltd),11Th Floor, Indiabulls Finance Centre, Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aadcp5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) बनधम/ M/S Indiabulls Wholesale Dy.Commissioner Of Income Tax- 3(2), Services Ltd, Vs. Aayakar Bhavan, M-62 & 63, 1St Floor, M K Road, Connaught Place, Mumbai-400020 New Delhi-110001 आयकर अपीऱ सं./I.T.A. No.6081/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Wholesale Tax-3(2), Services Ltd, Vs. Room No.674, 6Th Floor, 14Th Floor, Aayakar Bhavan, Indiabulls Finance Centre, M K Road, Tower No.1, Plot No.612-613, Mumbai-400020 Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aabci7129N अपीऱार्थी ओर से / Revenue By Shri Javed Akhatar प्रत्यर्थी की ओर से/ Assessee By S/Shri Jitendra Sangvi & Amit Khatiwalla

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “आई” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner of Income बनधम/ M/s Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly knows as Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now known as M K Road, M/s Store One Retails India Mumbai-400020 (Ltd),11th floor, Indiabulls Finance Centre, Elibhinstone road (W), Mumbai-400013 स्थधयी ऱेखध सं./ PAN : AADCP5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (नन…

RAJENDRA D. SHAH,MUMBAI vs. ACIT 21(1), MUMBAI

In the result, assessee’s appeal is allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER I.T.A. No.4492/M/2014 (AY: 2010-2011) Shri Rajendra D. Shah, फनाभ/ ACIT-21(1), Pratyakshakar 60-B, Dolat, East West Road Bhavan, Vs. No.2, JVPD Vile Parle (W), Bandra Kurla Complex, Mumbai – 400 049. Bandra, Mumbai. स्थामी रेखा सं./ PAN : AAFPS1910E (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. अऩीराथी की ओय से / Appellant by : Shri Neelkant Khandelwal प्रत्मथी की ओय से/ Respondent by : Shri B.S. Bist, Sr.DR सुनवाई की तायीख / Date of Hearing : 21.04.2016 घोषणा की तायीख /Dat…