Ltd. v. DCIT

DCIT CC 7(3), MUMBAI vs. M/S PALAVA DWELLERS PVT. LTD., MUMBAI

In the result, appeal filed by the learned AO is dismissed and appeal of the assessee is allowed

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am

…ccording to the learned counsel the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the act was satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which such an amount was actually paid or incurred. Further…

LODHA DEVELOPERS LTD.(SUCCESSOR TO PALAVA DWELLERS PVT. LTD.),MUMBAI vs. DCIT, CC- 7(3), MUMBAI

In the result, appeal filed by the learned AO is dismissed and appeal of the assessee is allowed

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am

…ccording to the learned counsel the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the act was satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which such an amount was actually paid or incurred. Further…

LODHA DEVELOPERS LTD(FORMERLY KNOWN AS LODHA DEVELOPERS PRIVATE LIMITED),MUMBAI vs. DCIT CEN CIR 7(3), MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Blemacrotech Developers Limited V. Dcit – Central Circle – 7(3) {Erstwhile Lodha Developers Limited} Room No. 655, 6Th Floor 412, 4Th Floor, 17G Vardhaman Chamber Aayakar Bhavan, M.K. Road Cawasji Patel Road, Horniman Circle Mumbai – 400020 Fort, Mumbai - 400001 Pan: Aaacl1490J (Appellant) (Respondent) Dcit – Central Circle – 7(3) V. Macrotech Developers Limited Room No. 655, 6Th Floor {Erstwhile Lodha Developers Limited} 412, 4Th Floor, 17G Vardhaman Chamber Aayakar Bhavan, M.K. Road Cawasji Patel Road, Horniman Circle Mumbai – 400020 Fort, Mumbai - 400001 Pan: Aaacl1490J (Appellant) (Respondent)

…ccording to the learned counsel the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the 24 ITA NO. 2349 & 2148/MUM/2018 (A.Y. 2014-15) Macrotech Developers Limited Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the act was satisfied or not. Once these are satisfied there is no question of denying the benefit of deductio…

DCIT CC 7(3), MUMBAI vs. M/S COWTOWN LAND DEVELOPMENT PVT. LTD., MUMBAI

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

…ccording to the learned counsel the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the act was satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which such an amount was actually paid or incurred. Further…

DCIT CEN CIR 7(3), MUMBAI vs. SANATHANAGAR ENTERPRISES LTD, MUMBAI

In the result and subject to the above observation, all the three appeals are dismissed

…cording to the learned counsel, the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the Act were satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which 'such an amount was actually paid or incurred. Furth…

DCIT CEN CIR 7(3), MUMBAI vs. SANATHANAGAR ENTERPRISES LTD, MUMBAI

In the result and subject to the above observation, all the three appeals are dismissed

…cording to the learned counsel, the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the Act were satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which 'such an amount was actually paid or incurred. Furth…

DCIT CEN CIR 7(3), MUMBAI vs. SANATHANAGAR ENTERPRISES LTD, MUMBAI

In the result and subject to the above observation, all the three appeals are dismissed

…cording to the learned counsel, the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the Act were satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which 'such an amount was actually paid or incurred. Furth…

ASSTT. CIT (OSD) - CC -7 (3), MUMBAI vs. M/S. MACROTECH DEVELOPERS LTD. (EARLIER KNOWN AS M/S LODHA DEVELOPERS LTD.), MUMBAI

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

Bench: S Shri Rifaur Rahamn & Pavan Kumar Gadaledcit – Cc-7(3) Vs. Macrotech Developers Room No. 655, 6Th Ltd (Successor To Floor, Aayakar Bhavan, Bellissimo Crown Mk Road, Mumbai – Buildmart Pvt Ltd) 400020. (Earlier Known As Lodha Crown Build Mart Ltd) 412, 17-G, Vardhaman Chambers, Cp Road, Horniman Circle Fort, Mumbai – 400001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacl1490J Appellant .. Respondent Macrotech Developers Vs. Dcit – Cc-7(3) Ltd (Successor To Room No. 655, 6Th Bellissimo Crown Floor, Aayakar Bhavan, Buildmart Pvt Ltd) Mk Road, Mumbai – (Earlier Known As 400020. Lodha Crown Build Mart Ltd) 412, 17-G, Vardhaman Chambers, Cp Road, Horniman Circle Fort, Mumbai – 400001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacl1490J Appellant .. Respondent

…ccording to the learned counsel the interest claimed by the assessee is a period cost and has to be allowed under section 36 (1) (iii) of the Act. The assessee has relied upon the judgment of the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the act was satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which such an amount was actually paid or incurred. Further…

LODHA DEVELOPERS LTD(FORMERLY KNOWN AS LODHA DEVELOPERS PRIVATE LIMITED),MUMBAI vs. DCIT CEN CIR 7(3), MUMBAI

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

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Bledy. Commissioner Of Income-Tax V. M/S. Palava Dwellers Pvt. Ltd., Central Circle – 7(3) 412, 71-G, Vardhman Chamber Room No. 655, 6Th Floor C.P. Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent) Lodha Developers Limited Dy. Commissioner Of Income-Tax V. {Since Merged M/S. Palava Dwellers Pvt. Ltd.,} Central Circle – 7(3) 412, 4Th Floor, 17G, Vardhman Chamber Room No. 655, 6Th Floor Cawasji Patel Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai - 400 001 Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent)

…ion 36 (1) (iii) of the Act. The assessee has relied upon the judgment of 5 ITA No. 2147 & 2348/MUM/2018 (A.Y: 2014-15) Lodha Developers Limited {since merged M/s. Palava Dwellers Pvt. Ltd.,} the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the act was satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which such an amount was actually paid or incurred. Further…

DCIT CENT. CIR. -7(3), MUMBAI vs. PALAVA DWELLERS PVT. LTD. , MUMBAI

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

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Bledy. Commissioner Of Income-Tax V. M/S. Palava Dwellers Pvt. Ltd., Central Circle – 7(3) 412, 71-G, Vardhman Chamber Room No. 655, 6Th Floor C.P. Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent) Lodha Developers Limited Dy. Commissioner Of Income-Tax V. {Since Merged M/S. Palava Dwellers Pvt. Ltd.,} Central Circle – 7(3) 412, 4Th Floor, 17G, Vardhman Chamber Room No. 655, 6Th Floor Cawasji Patel Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai - 400 001 Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent)

…ion 36 (1) (iii) of the Act. The assessee has relied upon the judgment of 5 ITA No. 2147 & 2348/MUM/2018 (A.Y: 2014-15) Lodha Developers Limited {since merged M/s. Palava Dwellers Pvt. Ltd.,} the apex court in the case of the Taparia tools Ltd vs. DCIT (2015) 272 ITR 605 wherein the Supreme Court held that the only aspect which needed examination was as to whether the provisions of section 36 (1) (iii) read with section 43 (2) of the act was satisfied or not. Once these are satisfied there is no question of denying the benefit of deduction in the year in which such an amount was actually paid or incurred. Further…