Joint Commissioner of Income Tax v. Mukund Ltd. (15.02

ACIT -2(1)(1), Mumbai vs. Bank of India, Mumbai

Appeal of the AO stands dismissed

…ed that this issue has been decided against the assessee by the Tribunal in AY 2006-07. We notice that the Tribunal has decided this issue against the assessee by following the decision rendered by Special Bench of Tribunal in the case of JCIT Vs. Mukund Ltd (106 ITD 231). Consistent with the view taken in the earlier years, we uphold the order passed by Ld CIT(A) on this issue.” Following the orders for the earlier years,we allow ground no.5. 11.Next ground of appeal deals with exclusion of income of foreign branches.It was brought to our notice that,while deciding the appeal for AY.2004-05,the Tribunal had deci…

ITO (TDS) 1(1), Mumbai vs. A Surti Developers P.Ltd, Mumbai

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

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2009-10

…Act’. He relied on the decision in the case of (i) ITO vs. Indian Newspaper Society, Delhi 37 taxmann. com 401, (ii) Shree Naman Hotels P. Ltd. – ITA No. 686 & 687 dated 14.08.2013, (iii) ITO vs. Navi Mumbai SEZ P. Ltd. 38 taxmann.com 218 and (iv) Mukund Ltd. 106 ITD 231. We find that the learned CIT(A) was convinced with the submission made by the AR of ASDL and relying on the decision in the case of (i) ITO (TDS) – 3(5), Mumbai vs. Wadhwa & Associates Realtors Private Limited (2013) taxmann.com 526 (A.Y. 2008-09), (ii) ITO (TDS) Rg. 2, Mumbai vs. Navi Mumbai (SEZ) Private Ltd. (2013) 38 taxmann.com 218, (iii) I…

DCIT RG. - 3(1), Mumbai vs. M/S. Gujarat Ambuja Cements Ltd., Mumbai

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am Gujarat Ambuja Cements Limited, The Dy. Commissioner Of 122, Maker Chambers, Iii, Income-Tax- Range 3(1), फनधभ/ Nariman Point, Aayakar Bhavan, Vs. Mumbai-400021. M K Marg, Mumbai-400020 Dy. Commissioner Of Income- Gujarat Ambuja Cements Tax-Range 3(1), Limited, 122, Maker फनधभ/ Room No.607, 6Th Floor, Chambers, Iii, Nariman Point, Aayakar Bhavan, Mumbai-400021 Vs. M K Marg, Mumbai-400020 स्थधमी रेखध सं./ Pan : Aaacg0569P (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) :

…g it, confirmed the order of AO holding that acquiring lease hold right is a capital expenditure. AR of the assessee fairly conceded that this issue is covered against the assessee in special bench in case of ITAT, Mumbai titled as JCIT vs. Mukund Ltd. (2007) 106 ITD 231 (Mum)(SB).We have perused the order of AO and Ld. CIT(A) as discussed above and considered the submissions of Ld AR of the assessee, wherein he has fairly conceded that this issue is covered against the assessee as referred above, hence, keeping in view the order of ITAT Mumbai JCIT vs. Mukund Ltd. (2007) 106 ITD 231 (Mum)(SB), this ground of app…

M/S. Gujarat Ambuja Cements Ltd., Mumbai vs. DCIT RG. 3(1), Mumbai

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am Gujarat Ambuja Cements Limited, The Dy. Commissioner Of 122, Maker Chambers, Iii, Income-Tax- Range 3(1), फनधभ/ Nariman Point, Aayakar Bhavan, Vs. Mumbai-400021. M K Marg, Mumbai-400020 Dy. Commissioner Of Income- Gujarat Ambuja Cements Tax-Range 3(1), Limited, 122, Maker फनधभ/ Room No.607, 6Th Floor, Chambers, Iii, Nariman Point, Aayakar Bhavan, Mumbai-400021 Vs. M K Marg, Mumbai-400020 स्थधमी रेखध सं./ Pan : Aaacg0569P (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) :

…g it, confirmed the order of AO holding that acquiring lease hold right is a capital expenditure. AR of the assessee fairly conceded that this issue is covered against the assessee in special bench in case of ITAT, Mumbai titled as JCIT vs. Mukund Ltd. (2007) 106 ITD 231 (Mum)(SB).We have perused the order of AO and Ld. CIT(A) as discussed above and considered the submissions of Ld AR of the assessee, wherein he has fairly conceded that this issue is covered against the assessee as referred above, hence, keeping in view the order of ITAT Mumbai JCIT vs. Mukund Ltd. (2007) 106 ITD 231 (Mum)(SB), this ground of app…

DCIT Cir - 3(1), Mumbai vs. M/S. Gujarat Ambuja Cements Ltd., Mumbai

In the result, ITA No. 4373/Mum/2005 is partly allowed

Bench: Shri R.C Sharma & Shri Pawan Singh

…n of Bangalore Tribunal in Biocon Ltd. vs. DCIT (2013) 25 ITR 602(Bang). (ITAT) (SB). The assessee is not pressing Ground No.5 & 7.The ground No.8 & 12are covered against the assessee by the decision of special bench, Mumbai ITAT in CIT vs. Mukund Ltd. (2007) 106 ITD 231 (Mum)(SB). 30. We have seen the copy of decision in assessee’s own case in ITA No. 2486/Mum/2005 for AY-1999-2000 wherein ground no.1 to 3, 6, 9, 10 & 11 are covered in favour of assessee. The ld. DR of the assessee has not disputed the factual position, thus, ground no. 1 to 3, 6, 9, 10 & 11 of the present appeal are allowed as the same are cove…

Century Textiles and Industries Ltd, Mumbai vs. ACIT RG 6(2), Mumbai

Bench: Shri G.S.Pannu & Shri Pawan Singhassessment Year : 2005-06 Century Textile & Industries Dcit Limited , Century Bhawan, Worli Circle 6(2), Aaykar Bhawan Vs. Mumbai.-40 Mumbai Pan: Aaacc2659Q (Appellant) (Respondent) Assessee By : Sh. Y.P. Trivedi Sh. S.S.Aggarwal(Ar)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “C”, MUMBAI BEFORE SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ASSESSMENT YEAR : 2005-06 Century Textile and Industries DCIT Limited , Century Bhawan, Worli Circle 6(2), Aaykar Bhawan Vs. Mumbai.-40 Mumbai PAN: AAACC2659Q (Appellant) (Respondent) Assessee by : Sh. Y.P. Trivedi Sh. S.S.Aggarwal(AR) Revenue by : Sh. Amit Kumar Singh (DR) Date of hearing : 06.05.2016 Date of Pronouncement : 05.8.2016 O R D E R PER PAWAN SINGH, JM: 1. The present is filed by assessee against the order of CIT(A) dated 27/02/2009,in respect of AYs 2005…

The DCIT 3(1) vs. M/S. Gujarat Ambuja Cements Ltd

Bench: Shri B.R. Baskaran, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 2524/Mum/2005 ("नधा"रण वष" / Assessment Year: 1998-99) Gujarat Ambuja Cements Limited The Deputy Commissioner Of 122, Maker Chambers Iii, Income Tax, Range 3(1), बनाम/ Nariman Point, Aayakar Bhawan, Vs. Mumbai-400 021. M.K. Road, Mumbai-400 020. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaapj 8040P (अपीलाथ" /Appellant) (""यथ" / Respondent) :

…w that the premium paid for acquiring leasehold rights as capital expenditure and in this respect this view is verified by the decision of the Special Bench of Hon’ble (A.Y.1998-89) Gujarat Ambuja Cements Mumbai ITAT in the case of JCIT Vs. Mukund Ltd. (2007) 106 ITD 231 (Mum) (SB). Therefore, considering the afore mentioned facts, this ground raised by assessee is dismissed. Ground No.7(a)&7(b) 9. This ground is not pressed and therefore the same is dismissed as not pressed. Ground No.8(a) to 8(c): 10. This ground relates to assessing interest income, income from Bill Discounting & Truck Hire Charges unde…

M/S. Gujarat Ambuja Cements Ltd vs. The Dy CIT RG3(1)

Bench: Shri B.R. Baskaran, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 2524/Mum/2005 ("नधा"रण वष" / Assessment Year: 1998-99) Gujarat Ambuja Cements Limited The Deputy Commissioner Of 122, Maker Chambers Iii, Income Tax, Range 3(1), बनाम/ Nariman Point, Aayakar Bhawan, Vs. Mumbai-400 021. M.K. Road, Mumbai-400 020. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaapj 8040P (अपीलाथ" /Appellant) (""यथ" / Respondent) :

…w that the premium paid for acquiring leasehold rights as capital expenditure and in this respect this view is verified by the decision of the Special Bench of Hon’ble (A.Y.1998-89) Gujarat Ambuja Cements Mumbai ITAT in the case of JCIT Vs. Mukund Ltd. (2007) 106 ITD 231 (Mum) (SB). Therefore, considering the afore mentioned facts, this ground raised by assessee is dismissed. Ground No.7(a)&7(b) 9. This ground is not pressed and therefore the same is dismissed as not pressed. Ground No.8(a) to 8(c): 10. This ground relates to assessing interest income, income from Bill Discounting & Truck Hire Charges unde…

Bank of India, Mumbai vs. Asst CIT 2(1), Mumbai

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” Bench, Mumbai Before S/Shri B.R. Baskaran (AM) & Ramlal Negi (JM) I.T.A. No. 2966/Mum/2014 (Assessment Year 2007-08) I.T.A. No. 3412/Mum/2014 (Assessment Year 2008-09) M/s. Bank of India ACIT-2(1) 8th Floor, Star House Vs. Aayakar Bhavan Taxation Department M.K. Road Bandra-Kurla Complex Mumbai-400 020. Bandra East Mumbai-400 051. (Appellant) (Respondent) I.T.A. No. 3085/Mum/2014 (Assessment Year 2007-08) I.T.A. No. 3959/Mum/2014 (Assessment Year 2008-09) DCIT-2(1) M/s. Bank of India Aayakar Bhavan Vs. 8th Floor, Star House M.K. Road Taxation Department Mumbai-400 020…

M/S. Gujarat Ambuja Cements Ltd vs. The Dy CIT RG 3(1)

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri D.Karunakara Rao & Shri Pawan Singhassessment Year: 1999-2000 Gujarat Ambuja Cements Limited, Dcit Range 3(1), 122, Maker Chambers, Iii, Aayakar Bhavan, M.K. Road, Vs. Mumbai-400020. Nariman Point, Mumbai-400021. Pan: Aaacg0569P (Appellant) (Respondent) Assessment Year: 1999-2000 Dcit Range 3(1), Gujarat Ambuja Cements Limited, Aayakar Bhavan, M.K. Road, 122, Maker Chambers, Iii, Vs. Mumbai-400020. Nariman Point, Mumbai-400021. Pan: Aaacg0569P (Appellant) (Respondent)

…g it, confirmed the order of AO holding that acquiring lease hold right is a capital expenditure. AR of the assessee fairly conceded that this issue is covered against the assessee in special bench in case of ITAT, Mumbai titled as JCIT vs. Mukund Ltd. (2007) 106 ITD 231 (Mum)(SB).We have perused the order of AO and Ld. CIT(A) as discussed above and considered the submissions of Ld AR of the assessee, wherein he has fairly conceded that this issue is covered against the assessee as referred above, hence, keeping in view the order of ITAT Mumbai JCIT vs. Mukund Ltd. (2007) 106 ITD 231 (Mum)(SB), this ground of app…

ITO (TDS) 2(5), Mumbai vs. Pyramid Properties, Navi Mumbai

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Rajendraassessment Year-2011-12 Ito(Tds)-2(5), M/S Pyramid Properties, R. No.706, 7Th Floor, Plot No.Pap-R-24, बनाम/ Smt. K.G. Mittal Ayurvedic Ttc Industrial Area, Vs. Hospital Building, Midcrabale, Charni Road (W), Navi Mumbai-400701 Mumbai-400002 Pan No. Aalfp4402A (राज"व /Revenue) ("नधा"रती /Assessee)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ सी, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “C”, MUMBAI "ी जोिग"दर "सह, "याियक सद"य एवं "ी राजे"", लेखा सद"य, के सम" । Before Shri Joginder Singh, Judicial Member and Shri Rajendra, Accountant Member Assessment Year-2011-12 ITO(TDS)-2(5), M/s Pyramid Properties, R. No.706, 7th Floor, Plot No.PAP-R-24, बनाम/ Smt. K.G. Mittal Ayurvedic TTC Industrial Area, Vs. Hospital Building, MIDCRabale, Charni Road (W), Navi Mumbai-400701 Mumbai-400002 PAN No. AALFP4402A (राज"व /Revenue) ("नधा"रती /Assessee) Shri Sanjay Bare-DR राज"व क" ओर से / Revenue by "नधा"रती क" ओर से…

ITO TDS 2(2), Mumbai vs. Keystone Lifespaces P.Ltd, Navi Mumbai

…आयकर अपीलीय अिधकरण, ‘ए’ खंडपीठ मुंबई INCOME TAX APPELLATE TRIBUNAL,MUMBAI “A” BENCH सव"ी राजे"",लेखा सद"य एवं अिमत शु"ल "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amit Shukla,Judicial Member आयकर अपील सं/./././.ITA No. 2088 /Mum/2014,िनधा"रण वष"/Assessment Year-2010-11 आयकर अपील सं/./././.ITA No.2089/Mum/2014,िनधा"रण वष"/Assessment Year-2011-12 Income tax Officer-(TDS)-2(2) Keystone Lifespaces Private Room No.707, 7th Floor Limited,1103, The Affaires, Plot Smt.,K.G. Mittal Ayurvedic Vs. No.9,Sector-17,Palm Beach Road, Hospital Building, Charni Road Sanpada,Navi Mumbai-400 705. Mumbai-400 002. PAN…

ITO 18(2)(1), Mumbai vs. Dr . Vasant J Rath Trust, Mumbai

In the result, the Revenue’s appeal for assessment year 2005-06

Bench: Shri Jason P. Boaz & Shri Sandeep Gosainthe Income Tax Officer 18(2)(1), Room No.110, Piramal Chambers, Lalbaug Parel, Mumbai 400 012 ... Appellant

…y the assessee to ·M/s. APVE Ltd., for acquisition of leasehold land was a capital expenditure and hence the same was not deductible. The Ld. CIT(A) has further considered the decision of the Special Bench of Mumbai Tribunal in the case of JClT Vs Mukund Ltd. 106 ITD 231 wherein the issue was whether the premium paid for acquiring leasehold right in land is revenue or capital. The Special Bench has held that the same is capital expenditure.” 53. It is clear from the facts and circumstances as well as the judicial pronouncements cited above that the premium received by the appellant Trust for transfer of tenancy…

ITO (TDS) 2(5), Mumbai vs. Oriental Bank of Commerce, Mumbai

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri Jason P. Boaz

…sfer of land under lease will be taxable in the form of capital gain u/s 45 of the Act in the hands of the lessor. The assessee also placed reliance on the decision of Special Bench Mumbai of the Tribunal in the case of JCIT V/s Mukund Ltd (13 SOT 558) (Mum) (106 ITD 231 (SB) and submitted that the Tribunal has held that lump sum payment of Rs.2.04 crores paid by the assessee to Maharashtra Industrial Development Corporation (MIDC) on lease for 99 years of land by MIDC for the purpose of setting up factory/ plant was capital in nature as the said payment was made for obtaining leasehold rights. The assessee also…