Mehboob Productions Pvt. Ltd. v. CIT (Bombay) (106 ITR 758)

JCIT (OSD)-8(1)(1), MUMBAI vs. M/S ROYAL WESTERN INDIA TURF CLUB LTD., MUMBAI

In the result, all the captioned appeals of the revenue stands dismissed

ITA 3744/MUM/2019[2015-16]Status: DisposedITAT Mumbai02 Sept 2022AY 2015-16

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.3742/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.3743/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2014-15) & आयकर अपील सं/ I.T.A. No.3744/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) Jcit (Osd)-8(1)(1) बिधम/ M/S. Royal Western India Room No. 625, 6Th Floor, Turf Club Ltd. Vs. Aayakar Bhawan, Maharshi Mahalaxmi Race Course, Karve Marg, Mumbai- Mahalaxmi, Mumbai- 400020. 400034. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabcr8519H (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Sumit Lalchandani Revenue By: Smt. Mahita Nair (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 27/07/2022 घोषणा की तारीख /Date Of Pronouncement: 02/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Revenue Appeals Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-14, Mumbai Dated 27.02.2019 For Assessment Year 2013-14, Ay 2014-15 & Ay 2015-16 Respectively. 2. At The Outset, The Ld. Ar Of The Assessee Submits That The Grounds Of Appeal Preferred By The Revenue Are Similar Especially Ground No. 1 & 2 For All The Years (Ay. 2013-14 To Ay. 2015-16) & The Additional Ground Is Only For Appeals Pertaining To Ay 2014-15 & Ay 2015-16 Which Is Related To Disallowance Made U/S 14A Of The

For Appellant: Shri Sumit LalchandaniFor Respondent: Smt. Mahita Nair (Sr. AR)

Section 143(3)Section 14A

…n those covered in other sections are not chargeable to tax being capital receipt in nature. Hon‘ble Supreme Court in the case of Padmaraje R. Kadambande Vs. CIT, 195 ITR 877 (SC); Hon‘ble Bombay High Court in case of Mehboob Productions Private Ltd. Vs. CIT, 106 ITR 758 and in case of H.H. Maharani Shri Vijaykuverba Saheb of Morvi & Anr. Vs. CIT, 49 ITR 594, held that gifts are capital receipts when consideration are not in the nature of income and, hence, same cannot be charged to tax under the provisions of Income Tax Act. ITA Ns. 3742 to 3744/Mum/2019 A.Ys. 2013-14 to 2015-16 Royal Western I Club Ltd 8. We c…

JCIT (OSD)-8(1)(1), MUMBAI vs. M/S ROYAL WESTERN INDIA TURF CLUB LTD., MUMBAI

In the result, all the captioned appeals of the revenue stands dismissed

ITA 3743/MUM/2019[2014-15]Status: DisposedITAT Mumbai02 Sept 2022AY 2014-15

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.3742/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.3743/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2014-15) & आयकर अपील सं/ I.T.A. No.3744/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) Jcit (Osd)-8(1)(1) बिधम/ M/S. Royal Western India Room No. 625, 6Th Floor, Turf Club Ltd. Vs. Aayakar Bhawan, Maharshi Mahalaxmi Race Course, Karve Marg, Mumbai- Mahalaxmi, Mumbai- 400020. 400034. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabcr8519H (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Sumit Lalchandani Revenue By: Smt. Mahita Nair (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 27/07/2022 घोषणा की तारीख /Date Of Pronouncement: 02/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Revenue Appeals Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-14, Mumbai Dated 27.02.2019 For Assessment Year 2013-14, Ay 2014-15 & Ay 2015-16 Respectively. 2. At The Outset, The Ld. Ar Of The Assessee Submits That The Grounds Of Appeal Preferred By The Revenue Are Similar Especially Ground No. 1 & 2 For All The Years (Ay. 2013-14 To Ay. 2015-16) & The Additional Ground Is Only For Appeals Pertaining To Ay 2014-15 & Ay 2015-16 Which Is Related To Disallowance Made U/S 14A Of The

For Appellant: Shri Sumit LalchandaniFor Respondent: Smt. Mahita Nair (Sr. AR)

Section 143(3)Section 14A

…n those covered in other sections are not chargeable to tax being capital receipt in nature. Hon‘ble Supreme Court in the case of Padmaraje R. Kadambande Vs. CIT, 195 ITR 877 (SC); Hon‘ble Bombay High Court in case of Mehboob Productions Private Ltd. Vs. CIT, 106 ITR 758 and in case of H.H. Maharani Shri Vijaykuverba Saheb of Morvi & Anr. Vs. CIT, 49 ITR 594, held that gifts are capital receipts when consideration are not in the nature of income and, hence, same cannot be charged to tax under the provisions of Income Tax Act. ITA Ns. 3742 to 3744/Mum/2019 A.Ys. 2013-14 to 2015-16 Royal Western I Club Ltd 8. We c…

JCIT (OSD)-8(1)(1), MUMBAI vs. M/S ROYAL WESTERN INDIA TURF CLUB LTD., MUMBAI

In the result, all the captioned appeals of the revenue stands dismissed

ITA 3742/MUM/2019[2013-14]Status: DisposedITAT Mumbai02 Sept 2022AY 2013-14

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.3742/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.3743/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2014-15) & आयकर अपील सं/ I.T.A. No.3744/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) Jcit (Osd)-8(1)(1) बिधम/ M/S. Royal Western India Room No. 625, 6Th Floor, Turf Club Ltd. Vs. Aayakar Bhawan, Maharshi Mahalaxmi Race Course, Karve Marg, Mumbai- Mahalaxmi, Mumbai- 400020. 400034. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabcr8519H (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Sumit Lalchandani Revenue By: Smt. Mahita Nair (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 27/07/2022 घोषणा की तारीख /Date Of Pronouncement: 02/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Revenue Appeals Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-14, Mumbai Dated 27.02.2019 For Assessment Year 2013-14, Ay 2014-15 & Ay 2015-16 Respectively. 2. At The Outset, The Ld. Ar Of The Assessee Submits That The Grounds Of Appeal Preferred By The Revenue Are Similar Especially Ground No. 1 & 2 For All The Years (Ay. 2013-14 To Ay. 2015-16) & The Additional Ground Is Only For Appeals Pertaining To Ay 2014-15 & Ay 2015-16 Which Is Related To Disallowance Made U/S 14A Of The

For Appellant: Shri Sumit LalchandaniFor Respondent: Smt. Mahita Nair (Sr. AR)

Section 143(3)Section 14A

…n those covered in other sections are not chargeable to tax being capital receipt in nature. Hon‘ble Supreme Court in the case of Padmaraje R. Kadambande Vs. CIT, 195 ITR 877 (SC); Hon‘ble Bombay High Court in case of Mehboob Productions Private Ltd. Vs. CIT, 106 ITR 758 and in case of H.H. Maharani Shri Vijaykuverba Saheb of Morvi & Anr. Vs. CIT, 49 ITR 594, held that gifts are capital receipts when consideration are not in the nature of income and, hence, same cannot be charged to tax under the provisions of Income Tax Act. ITA Ns. 3742 to 3744/Mum/2019 A.Ys. 2013-14 to 2015-16 Royal Western I Club Ltd 8. We c…

BATLIBOI LTD,MUMBAI vs. DCIT CIR 2(1), MUMBAI

In the result, appeal of the assessee is allowed in part

ITA 5428/MUM/2015[2011-12]Status: DisposedITAT Mumbai17 Feb 2021AY 2011-12

Bench: Shri M.Balaganesh, Am & Shri Pavan Kumar Gadale, Jm M/S. Batliboi Limited Vs. Dy. Cit, Circle 2(1) Bharat House, Aayakar Bhavan 5Th Floor, 104 5Th Floor, Mumbai-400001 Mumbai Samachar Marg Fort, Mumbai -400 001 Pan/Gir No. Aaacb4408L (Appellant) .. (Respondent)

Section 115JSection 143(3)Section 40A

…(Bom) which was subsequently affirmed by the Hon‟ble Supreme Court in the case of CIT vs D.P.Sandu Bros (Chembur) Pvt Ltd reported in 273 ITR 1 (SC) c) Decision of Hon‟ble Jurisdictional High Court in the case of Mehboob Productions Pvt Ltd vs CIT reported in 106 ITR 758 (Bom) 7 M/s. Batliboi Limited d) Decision of Hon‟ble Supreme Court in the case of Universal Radiators vs CIT reported in 201 ITR 800 (SC) 3.10. We find that the ld AO did not appreciate the contentions of the assessee and observed that the receipt of Rs 4.27 crores cannot be regarded as „windfall‟ within the meaning of the word arrived at by t…

DCIT 8(1)(1), MUMBAI vs. ROYAL WESTERN INDUA TURF CLUB LTD, MUMBAI

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

ITA 3237/MUM/2017[2012-13]Status: DisposedITAT Mumbai22 Jan 2021AY 2012-13

Bench: Shri Rajesh Kumar & Shri Pavan Kumar Gadale

For Appellant: Smt Mamta Bansal, CIT-DRFor Respondent: Shri Salis Kapoor

Section 143(1)Section 143(2)Section 143(3)

…n those covered in other sections are not chargeable to tax being capital receipt in nature. Hon‘ble Supreme Court in the case of Padmaraje R. Kadambande Vs. CIT, 195 ITR 877 (SC); Hon‘ble Bombay High Court in case of Mehboob Productions Private Ltd. Vs. CIT, 106 ITR 758 and in case of H.H.Maharani Shri Vijaykuverba Saheb of Morvi & Anr. Vs. CIT, 49 ITR 594, held that gifts are capital receipts when consideration are not in the nature of income and,hence, same cannot be charged to tax under the provisions of Income Tax Act. 8. We considered the Coordinate Bench decisions, and the facts which are identical and si…