ITO v. Gujarat Information Technology Fund (45 SOT 529)

DCIT, CC-6(2), MUMBAI, MUMBAI vs. HDFC ERGO GENERAL INSURANCE COMPANY LIMITED, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 3281/MUM/2025[2016-17]Status: DisposedITAT Mumbai30 Jul 2025AY 2016-17

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

DCIT, CC-6(2), MUMBAI, MUMBAI vs. HDFC ERGO GENERAL INSURANCE COMPANY LIMITED, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 3280/MUM/2025[2015-16]Status: DisposedITAT Mumbai30 Jul 2025AY 2015-16

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI vs. HDFC ERGO GENERAL INSURANCE COMPANY LIMITED, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 3278/MUM/2025[2011-12]Status: DisposedITAT Mumbai30 Jul 2025AY 2011-12

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

DCIT, CC-6(2), MUMBAI, MUMBAI vs. HDFC ERGO GENERAL INSURANCE COMPANY LIMITED, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 3277/MUM/2025[2010-11]Status: DisposedITAT Mumbai30 Jul 2025AY 2010-11

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 2841/MUM/2025[2016-17]Status: DisposedITAT Mumbai30 Jul 2025AY 2016-17

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 2840/MUM/2025[2015-16]Status: DisposedITAT Mumbai30 Jul 2025AY 2015-16

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 2839/MUM/2025[2014-15]Status: DisposedITAT Mumbai30 Jul 2025AY 2014-15

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 2838/MUM/2025[2013-14]Status: DisposedITAT Mumbai30 Jul 2025AY 2013-14

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 2837/MUM/2025[2011-12]Status: DisposedITAT Mumbai30 Jul 2025AY 2011-12

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI

Appeals are partly allowed and Revenue’s appeals are dismissed

ITA 2836/MUM/2025[2010-11]Status: DisposedITAT Mumbai30 Jul 2025AY 2010-11

Bench: Shri Saktijit Dey, Vp & Shri Prabhash Shankar, Am

For Appellant: Shri J.D. Mistri a/wFor Respondent: Shri Ritesh Misra, CIT (DR) Shri

Section 37(1)

…of the Act. In this context, we may rely upon the following decisions:- i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann.com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529.” 10. Finally, learned counsel submitted, based on the orders of CESTAT in case of ‘M/s Cholamandalam MS General Insurance Co. Ltd.’ (Supra) ITAT has set aside the orders passed by the AO and First Appellate Authority disallowing similar payment made to motor vehicle dealers. In this context, he referred to the judgment of the Hon’ble Madras High…

M/S. SHARNAM REALITIES PVT. LTD.,AHMEDABAD vs. THE PR. CIT -4, AHMEDABAD

In the result the appeal of the assessee is allowed

ITA 26/AHD/2022[2015-16]Status: DisposedITAT Ahmedabad08 Mar 2024AY 2015-16

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2015-16 M/S.Sharnam Realities P.Ltd. Pr.Cit-4 411A, Neelkanth Palace B Vs Ahmedabad. 100 Ft. Road Satellite 380 015. Pan : Aaics 9152 J (Applicant) (Responent) : Assessee By Shri Tushar Hemani, Ar & Parimalsinh B. Parmar, Ar Revenue By : Shri Akhilendra Prap Yadav, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 13/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 08/03/2024 आदेश आदेश/O R D E R आदेश आदेश

For Respondent: Shri Akhilendra Prap Yadav, CIT-DR

Section 143(3)Section 263Section 43C

…se laws in this regard: • Gestetner Duplications P. Ltd. Vs. CIT, 117 IGTR 1 (SC); • Nitin P. Shah alias Modi Vs. DCIT, 276 ITR 411 (Guj) • APMC Vs. ITO, 355 ITR 384 (Guj) • ITO Vs. E-Infochips Ltd., 124 TTJ 176 (Ahd); • Gujarat Information Technology Funds, 45 SOT 529 (Ahd); 11 • PCIT Vs. BA Research, (2016) 240 Taxman 443 (Guj) • CIT Vs. Quintiles Research (India) P.Ltd., 429 ITR 4 (Kar) He, therefore, contended that the ld.Pr.CIT’s finding of error based on his finding and questioning the valuation of the stamp duty authority was incorrect 16. In view of the above, the ld.counsel for the assessee contended…

THE ITO, WARD-1(4),, AHMEDABAD vs. M/S. DISHMAN INFRASTRUCTURE LTD.,, AHMEDABAD

In the result, appeal of the Revenue and its cross objections are dismissed, whereas the appeal of the assessee is partly allowed

ITA 2663/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad05 Feb 2021AY 2011-12

Bench: Shri Rajpal Yadav, Vice- & Shri Amarjit Sinh

For Respondent: Shri Mohd. Usman, CIT-DR

Section 143(2)Section 801ASection 80I

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘D’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD (Conducted through Virtual Court) BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI AMARJIT SINH, ACCOUNTANT MEMBER ITA No.2593/Ahd/2014With Cross Objection No.42/Ahd/2020 "नधा"रण वष"/ Asstt.Year : 2011-12 Dishman Infrastructure Ltd. ITO, Ward-1(4) Ahmedabad. 2, Bhadra-Raj Chambers Vs. Swastik Cross Roads Navrangpura, Ahmedabad. PAN : AACCD 4057 H "नधा"रण वष"/ Asstt.Year : 2011-12 ITO, Ward-1(4) Dishman Infrastructure Ltd. Ahmedabad. 2, Bhadra-Raj Chambers Vs. Swastik Cross Roads Navrangpura, Ahmedabad…

DISHMAN INFRASTRUCTURE LTD.,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(4),, AHMEDABAD

In the result, appeal of the Revenue and its cross objections are dismissed, whereas the appeal of the assessee is partly allowed

ITA 2593/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad05 Feb 2021AY 2011-12

Bench: Shri Rajpal Yadav, Vice- & Shri Amarjit Sinh

For Respondent: Shri Mohd. Usman, CIT-DR

Section 143(2)Section 801ASection 80I

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘D’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD (Conducted through Virtual Court) BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI AMARJIT SINH, ACCOUNTANT MEMBER ITA No.2593/Ahd/2014With Cross Objection No.42/Ahd/2020 "नधा"रण वष"/ Asstt.Year : 2011-12 Dishman Infrastructure Ltd. ITO, Ward-1(4) Ahmedabad. 2, Bhadra-Raj Chambers Vs. Swastik Cross Roads Navrangpura, Ahmedabad. PAN : AACCD 4057 H "नधा"रण वष"/ Asstt.Year : 2011-12 ITO, Ward-1(4) Dishman Infrastructure Ltd. Ahmedabad. 2, Bhadra-Raj Chambers Vs. Swastik Cross Roads Navrangpura, Ahmedabad…

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

In the result, appeals filed by the revenue for assessment years 2013-

ITA 1144/MUM/2018[2013-14]Status: DisposedITAT Mumbai22 Sept 2020AY 2013-14

For Appellant: Shri J.D. Mistry (AR)For Respondent: Shri V. Sreekar (CIT-DR)

Section 10Section 115USection 143Section 199

…f the Act. In this context, we may rely upon the following decisions:– i) G.V.K. Biosciences Pvt. Ltd. v/s ACIT, [2014]49 taxmann. com 385; ii) ACIT v/s Small Is Beautiful, [2013] 26 ITR (Trib.) 41; and iii) ITO v/s Gujarat Information Technology Fund, [2011] 45 SOT 529. 26. In fact, in case of DHFL Capital Fund v/s ITO, the Tribunal, while considering a similar issue of claim of exemption under section 10(23FB) of the Act has held that in the absence of allegation of any violation of its Regulations by SEBI, the income tax authorities cannot disallow assessee’s claim of exemption alleging violation of SEBI condi…

JM FINANCIAL INDIA FUND-SCHEME B,MUMBAI vs. ITO WARD 17(2)(1), MUMBAI

In the result this ground of appeal is allowed

ITA 277/MUM/2019[2015-16]Status: DisposedITAT Mumbai20 Aug 2019AY 2015-16

Bench: Shri G.S. Pannu, Vice- & Shri Pawan Singhjm Financial India Fund-Scheme Ito - 17(2)(1) Room No. 123-B, 1St Floor, B, 141, Maker Chambers Iii, Nariman Point, Vs. Aayakar Bhavan, M.K. Road, Mumbai-400021. Mumbai-400020. Pan: Aabtj0401F Appellant Respondent

For Appellant: Shri P.J. PardiwalaFor Respondent: Shri S.K. Poddar (CIT-DR) with Shri Nishant Samaiya (Sr. DR)

Section 10Section 10(34)Section 10(35)Section 143(3)Section 161(1)Section 1OSection 234BSection 254(1)Section 2fSection 4

…any restriction 7 ITA No. 277 Mum 2019-JM Financial India Fund-Scheme B. on investment in mutual funds. The learned Senior Counsel for assessee submits that the coordinate bench of the Ahmadabad Tribunal in ITO Versus Gujarat Information Technology fund (45 SOT 529 Ahmadabad Tribunal) has taken the similar view. 5. The learned Senior Counsel for the assessee submits that the power to govern the VCF is with the SEBI and not with the Income tax Authorities and in absence of any allegation or action by SEBI against the assessee toward violation of SEBI regulations or withdrawal of the certificate of registra…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(2), HYDERABAD vs. GVK BIOSCIENCES PRIVATE LIMITED , HYDERABAD

In the result, Revenue’s appeal is dismissed

ITA 1072/HYD/2017[2012-13]Status: DisposedITAT Hyderabad20 Feb 2019AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmandy. Commissioner Of Vs M/S. Gvk Biosciences Income Tax, Circle 2(2) Private Limited Hyderabad Hyderabad Pan: Aabcg3208J (Appellant) (Respondent)

For Appellant: Shri V. Siva KumarFor Respondent: Shri Y.V.S.T. Sai, CIT-DR

Section 10BSection 143(3)Section 80Section 80I

…s Tribunal while considering a similar issue in the case of Asstt. CIT v. Small is Beautiful [2013] 60 SOT 153 (URO)/38 taxmann.com 310 (Hyd.) after following the decision of the Ahmedabad Bench in the case of ITO v. Gujarat Information Technology Fund [2011] 45 SOT 529 (URO)/11 taxmann.com 206 has held that the assessee is entitled to avail exemption under section 10(23FB) till the certificate granted by the SEBI is not specifically withdrawn. In the appeal before us, admittedly there is no material on record before us to show that the approval granted by the assessee has been withdrawn by the prescribed authori…

MILESTONE REAL ESTATE FUND,MUMBAI vs. PR.CIT-25, MUMBAI, MUMBAI

In the result, assessee’s appeal is allowed

ITA 2509/MUM/2018[2013-14]Status: DisposedITAT Mumbai10 Aug 2018AY 2013-14

Bench: Shri Saktijit Dey & Shri N.K Pradhanmilestone Real Estate Fund 402–A, Hallmark Business Plaza Sant Dhyaneshwar Marg ……………. Appellant Bandra, Mumbai 400 051 Pan – Aaati5880L V/S Asstt. Commissioner Of Income Tax ……………. Respondent Circle–25(3), Mumbai Assessee By : Shri J.D. Mistry, Sr. Counsel A/W Shri Madhur Agarwal Revenue By : Shri Anand Mohan

For Appellant: Shri J.D. Mistry, Sr. Counsel a/wFor Respondent: Shri Anand Mohan

Section 10Section 115USection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI N.K PRADHAN, ACCOUNTANT MEMBER Milestone Real Estate Fund 402–A, Hallmark Business Plaza Sant Dhyaneshwar Marg ……………. Appellant Bandra, Mumbai 400 051 PAN – AAATI5880L v/s Asstt. Commissioner of Income Tax ……………. Respondent Circle–25(3), Mumbai Assessee by : Shri J.D. Mistry, Sr. Counsel a/w Shri Madhur Agarwal Revenue by : Shri Anand Mohan Date of Hearing – 16.05.2018 Date of Order – 10/08/2018 O R D E R PER SAKTIJIT DEY, J.M. By filing this appeal assessee has called into question the validity of the o…

CIG REALTY FUND,MUMBAI vs. ASSST 14(1), MUMBAI

In the result, all the appeals of Revenue are dismissed and appeals of assessee are allowed

ITA 7636/MUM/2014[2010-11]Status: DisposedITAT Mumbai26 May 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

Section 10Section 143(3)

…The CIT(A) following the decision of Mumbai Bench of this Tribunal in the case of ITO vs. Kshitij Venture Capital Fund [2011] 10 taxman.com 204 (Mum) and also the Ahmedabad Bench decision of this Tribunal in ITO vs. Gujarat information Technology Fund (2011) 45 SOT 529 (Ahd) allowed the claim of the assessee and deleted the addition of interest income of Rs. Page 4 of 11 ITA No.4136, 4137, 3259, 7636, 2898/Mum/2014 M/s CIG Reality Fund; A.Ys. 07-08, 08-09, 09-10, 10-11 66,07,975/- and short term capital gain on mutual funds of Rs. 1,45,84,081/-. Aggrieved, now Revenue is in appeal before us. 5. Before the le…

ASST CIT 14(1), MUMBAI vs. CIG REALITY FUND, MUMBAI

In the result, all the appeals of Revenue are dismissed and appeals of assessee are allowed

ITA 4137/MUM/2014[2008-09]Status: DisposedITAT Mumbai26 May 2017AY 2008-09

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

Section 10Section 143(3)

…The CIT(A) following the decision of Mumbai Bench of this Tribunal in the case of ITO vs. Kshitij Venture Capital Fund [2011] 10 taxman.com 204 (Mum) and also the Ahmedabad Bench decision of this Tribunal in ITO vs. Gujarat information Technology Fund (2011) 45 SOT 529 (Ahd) allowed the claim of the assessee and deleted the addition of interest income of Rs. Page 4 of 11 ITA No.4136, 4137, 3259, 7636, 2898/Mum/2014 M/s CIG Reality Fund; A.Ys. 07-08, 08-09, 09-10, 10-11 66,07,975/- and short term capital gain on mutual funds of Rs. 1,45,84,081/-. Aggrieved, now Revenue is in appeal before us. 5. Before the le…

ASST CIT 14(1), MUMBAI vs. CIG REALITY FUND, MUMBAI

In the result, all the appeals of Revenue are dismissed and appeals of assessee are allowed

ITA 4136/MUM/2014[2007-08]Status: DisposedITAT Mumbai26 May 2017AY 2007-08

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

Section 10Section 143(3)

…The CIT(A) following the decision of Mumbai Bench of this Tribunal in the case of ITO vs. Kshitij Venture Capital Fund [2011] 10 taxman.com 204 (Mum) and also the Ahmedabad Bench decision of this Tribunal in ITO vs. Gujarat information Technology Fund (2011) 45 SOT 529 (Ahd) allowed the claim of the assessee and deleted the addition of interest income of Rs. Page 4 of 11 ITA No.4136, 4137, 3259, 7636, 2898/Mum/2014 M/s CIG Reality Fund; A.Ys. 07-08, 08-09, 09-10, 10-11 66,07,975/- and short term capital gain on mutual funds of Rs. 1,45,84,081/-. Aggrieved, now Revenue is in appeal before us. 5. Before the le…

ITO v. Gujarat Information Technology Fund

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