Munjal Sales Corpn v. CIT

168 Taxmann 43Supreme Court of India2008#2617 most cited

What is Munjal Sales Corpn v. CIT authority for?

When an assessee provides interest-free advances, no disallowance of interest on borrowed capital under section 36(1)(iii) can be made if it is established that the advances were funded from the assessee's own available funds and not from borrowed funds.

44

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2024.

Also referred to as

Munjal Sales Corpn v. CIT · Section 36(1)(iii) · interest on borrowed capital · interest-free advances · disallowance of interest · own funds · borrowed funds · business purpose · Supreme Court · 2008

Sections most often in play

Section 143(3)Section 36(1)(iii)Section 145Section 14ASection 195Section 26(1)(iii)Section 40(a)(i)Section 40(a)(ia)

Issues it is cited on

section 14a(3)tax recovery officersection 10(5)section 43(3)section 36(1)(ii)section 14a(1)section 42interest free advancessection 51strategic investmentsection 80ia(4)section 115jb(2)

Judgments citing Munjal Sales Corpn v. CIT

M/S. United Spirits Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, the appeal of the assessee is partly allowed

ITA 489/BANG/2017[2012-13]Status: DisposedITAT Bangalore29 May 2020AY 2012-13

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadaleit(Tp)A No.489/Bang/2017 (Assessment Year: 2012-13) M/S. United Spirits Limited, Ub Towers, No.24, Vittal Mallya Road, Bangalore-560 001 ….Appellant Vs. Dy. Commissioner Of Income Tax, Circle 7(1)(1), Bangalore. ……Respondent. Assessee By: Shri Perci Pardiwala, Senior Advocate & Shri Ketan Ved, C.A. Revenue By: Shri Bipin C.N, Jcit (D.R) Date Of Hearing : 06.03.2020. Date Of Pronouncement : 29.05.2020. O R D E R Per Shri B.R. Baskaran, A.M. : The Assessee Has Filed This Appeal Challenging The Assessment Order Dated 31-01-2017 Passed By The Assessing Officer For Assessment Year 2012-13 Passed U/S 143(3) R.W.S 144C(13) Of The Act.

For Appellant: Shri Perci Pardiwala, Senior Advocate and Shri Ketan Ved, C.AFor Respondent: Shri Bipin C.N, JCIT (D.R)
Section 143(3)Section 144C(10)Section 144C(13)Section 14ASection 154Section 36(1)(iii)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “ C ” BENCH: BANGALORE BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER IT(TP)A No.489/Bang/2017 (Assessment Year: 2012-13) M/s. United Spirits Limited, UB Towers, No.24, Vittal Mallya Road, Bangalore-560 001 ….Appellant Vs. Dy. Commissioner of Income Tax, Circle 7(1)(1), Bangalore. ……Respondent. Assessee By: Shri Perci Pardiwala, Senior Advocate and Shri Ketan Ved, C.A. Revenue By: Shri Bipin C.N, JCIT (D.R) Date of Hearing : 06.03.2020. Date of Pronouncement : 29.05.2020. O R D E R PER SHRI B.R. BASKARAN, A.M. : The…

M/S. Mavoor Trade Links, Calicut vs. The ACIT, Calicut

In the result, the appeal of the assessee is dismissed

ITA 719/COCH/2019[2009-10]Status: DisposedITAT Cochin06 Feb 2020AY 2009-10

Bench: Shri George George K.

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER I.T.A. No.719/Coch/2019 Assessment Year : 2009-10 Mavoor Trade Links, Vs. The Assistant Commissioner of Y.M.C.A. Road, Income-tax, Circle-1(1), Calicut-673 001. Kozhikode. [PAN: AADFM 7732N] (Assessee-Appellant) (Revenue-Respondent) Assessee by None (written submission) Revenue by Shri Mritunjaya Sharma, Sr. DR Date of hearing 05/02/2020 06th /02/2020 Date of pronouncement O R D E R Per GEORGE GEORGE K.,JUDICIAL MEMBER: This appeal at the instance of the assessee is directed against the order o…

M/S. Mavoor Trade Links, Calicut vs. The ACIT, Calicut

In the result, the appeal of the assessee is dismissed

ITA 575/COCH/2019[2008-09]Status: DisposedITAT Cochin03 Feb 2020AY 2008-09

Bench: Shri George George K.

Section 143(3)Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER I.T.A. No.575/Coch/2019 Assessment Year : 2008-09 Mavoor Trade Links, Vs. The Assistant Commissioner of Y.M.C.A. Road, Income-tax, Circle-1(1), Calicut-673 001. Kozhikode. [PAN: AADFM 7732N] (Assessee-Appellant) (Revenue-Respondent) Assessee by Shri R.V. Viswanathan, CA Revenue by Shri Mritunjaya Sharma, Sr. DR Date of hearing 28/01/2020 Date of pronouncement 03/02/2020 O R D E R Per GEORGE GEORGE K.,JUDICIAL MEMBER: This appeal at the instance of the assessee is directed against the order of t…

DCIT, New Delhi vs. M/S. Mrg Developers Pvt. Ltd., Delhi

In the result, appeal of the Department is partly allowed for statistical purposes

ITA 4070/DEL/2014[2008-09]Status: DisposedITAT Delhi28 Jan 2020AY 2008-09

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: Shri P.K. Mishra, C.AFor Respondent: Ms. Rakhi Vimal, Sr. DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “E”: DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA.No.4070/Del./2014 Assessment Year 2008-2009 M/s. MRG Developers Pvt. The DCIT, Ltd., K.P. Block, Plot Cinema Pacific North vs., Central Circle-16, Community Centre, Pitampura, Delhi. New Delhi. PAN AADCM4743Q (Appellant) (Respondent) For Revenue : Ms. Rakhi Vimal, Sr. DR For Assessee : Shri P.K. Mishra, C.A. Date of Hearing : 22.01.2020 Date of Pronouncement : 28.01.2020 ORDER PER BHAVNESH SAINI, J.M. This appeal by Revenue has been directed against the Order of t…

The Dy. CIT., Anand Circle, Anand vs. M/S. Kaira Dist. Co.-Op. Milk Producers Union Ltd., Anand

In the result, the appeal of the revenue is dismissed

ITA 2218/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad03 Oct 2019AY 2012-13

Bench: Shri Kul Bharat & Shri Waseem Ahmedआयकर अपील सं./Ita No.2218/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T, M/S. Kaira District Co-Op. Milk, Anand Circle, Vs. Producers Union Ltd., Anand. Amul Dairy Road, Anand-388001. Pan: Aaaak8694F

For Appellant: Shri Yogesh Shah A.R
Section 143(3)Section 15Section 32(1)Section 36Section 80P(2)(d)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’A’’ BENCH, AHMEDABAD BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2218/AHD/2016 "नधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T, M/s. Kaira District Co-op. Milk, Anand Circle, Vs. Producers Union Ltd., Anand. Amul Dairy Road, Anand-388001. PAN: AAAAK8694F (Applicant) (Respondent) : Revenue by Shri O.P. Vaishnav, CIT.D.R Assessee by : Shri Yogesh Shah A.R सुनवाई क" तार"ख/Date of Hearing : 01/10/2019 घोषणा क" तार"ख /Date of Pronouncement: 03/10/2019 आदेश/O R D E R PER WASEEM AHMED ACCOU…

Kaira Dist.Co.Op.Milk Producers Union Ltd., Anand vs. The ACIT., Anand Circle, Anand

In the result, appeal filed by the Revenue is dismissed

ITA 3614/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad26 Jun 2019AY 2011-12

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

For Appellant: Shri Lalit P. Jain, Sr. D.RFor Respondent: Shri Sanjay R. Shah, A.R
Section 35Section 37

…hether on the facts and circumstances of the case and in law, the ld. CIT(A) was justified in t deleting addition of Rs. 1,88,18,927/- by relying on the decision of Hon’ble Supreme Court of India in the case of Munjal Sales Corp. vs. CIT, Ludhiana reported in 168 Taxmann 43 (SC) and decision of Hon’ble High Court of Bombay in the case of CIT vs. Reliance Utilities & Power Ltd. reported in 178 Taxmann 135, without appreciating the facts of the present case is distinguishable from the facts of the said cases, in as much whereas in the instant case the issue pertained to disallowance u/s. 80P(2)(d) of the Act, where…

ACIT, Circle - 35, Kolkata vs. M/S. Kwality Steel Processors, Kolkata

In the result, the appeal of the Revenue is partly allowed

ITA 1411/KOL/2017[2014-15]Status: DisposedITAT Kolkata03 May 2019AY 2014-15

Bench: Sh. J.Sudhakar Reddy & Sh.S.S.Viswanethra Ravivs M/S. Kwality Steel Processors, Acit, Circle-35, 4, India Exchange Place, 2Nd Floor, Kolkata-700107. Kolkata-700001. Pan-Aaefk2197G (Appellant) (Respondent) Appellant By Sh.C.J.Singh, Jcit Sr.Dr Respondent By Sh. Miraj D.Shah, Fca Date Of Hearing 05.02.2019 Date Of Pronouncement 03.05.2019

Section 36(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “A”, KOLKATA BEFORE SH. J.SUDHAKAR REDDY, ACCOUNTANT MEMBER & SH.S.S.VISWANETHRA RAVI, JUDICIAL MEMBER vs M/s. Kwality Steel Processors, ACIT, Circle-35, 4, India Exchange Place, 2nd Floor, Kolkata-700107. Kolkata-700001. PAN-AAEFK2197G (Appellant) (Respondent) Appellant by Sh.C.J.Singh, JCIT Sr.DR Respondent by Sh. Miraj D.Shah, FCA Date of Hearing 05.02.2019 Date of Pronouncement 03.05.2019 ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER This appeal filed by the Revenue against the order dated 27.03.2017 passed by CIT(A)-10, Kolkata for AY 2014-15. 2. Ground…

Vikas Globalone Ltd., New Delhi vs. DCIT, Circle- 26(2), New Delhi

In the result, appeal of Assessee is partly allowed

ITA 2498/DEL/2018[2012-13]Status: DisposedITAT Delhi08 Mar 2019AY 2012-13

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: Shri Piyush KamalFor Respondent: Shri S.S. Rana, CIT-D.R
Section 115JSection 37Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “G” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA.No.2498/Del./2018 Assessment Year 2012-2013 M/s. Vikas Globalone Ltd., (Now known as M/s. The DCIT, Vikas Ecotech Ltd.,) F-6, vs. Circle-26(2), Vikas House, 34/1, East Punjabi Bagh, New Delhi. New Delhi. PIN 110026.PAN AAACV0608G (Appellant) (Respondent) Shri Gautam Jain, And For Assessee : Shri Piyush Kamal, Advocates For Revenue : Shri S.S. Rana, CIT-D.R. Date of Hearing : 31.01.2019 Date of Pronouncement : 08.03.2019 ORDER PER BHAVNESH SAINI, J.M. This appea…

JCIT, Rang-2, Kota vs. Chambal Fertilisers and Chemicals Limited, Kota

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 575/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 461/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke M/s Chambal Fertilisers & The JCIT, Vs. Chemicals Limited, Range-2, District- Kota. Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAACC 9762 A vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 575/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke The ACIT, M/s Chambal Fertilise…

Chambal Fertilisers and Chemicals Limited, Kota vs. JCIT, Kota

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 461/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 461/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke M/s Chambal Fertilisers & The JCIT, Vs. Chemicals Limited, Range-2, District- Kota. Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAACC 9762 A vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 575/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke The ACIT, M/s Chambal Fertilise…

ITO, New Delhi vs. M/S. Menora Developers & Infrastructure Pvt. Ltd., New Delhi

In the result appeal of the assessee as well as of the revenue are dismissed

ITA 3125/DEL/2016[2011-12]Status: DisposedITAT Delhi25 Sept 2018AY 2011-12

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishiito, Vs. Menora Developers & Ward-16(4), Infrastructure Pvt. Ltd, Room No. 304, Cr Building, A-60, Naraina Industrial Ip Estate, New Delhi Area-I, New Delhi Pan: Aafcm9587Q (Appellant) (Respondent) Menora Developers & Vs. Ito, Infrastructure Pvt. Ltd, Ward-16(4), A-60, Naraina Industrial Area-I, Room No. 304, Cr Building, New Delhi Ip Estate, New Delhi Pan: Aafcm9587Q (Appellant) (Respondent)

For Appellant: Shri Arvind Kumar, AdvFor Respondent: Ms. Ashima Neb, Sr. DR
Section 143(3)Section 14ASection 36Section 36(1)(iii)Section 8D

…r the purpose of the business” and held it to be wide. In the present case before us there is no business carried on by the assessee except the activity of granting loan. The other decision of the Hon'ble Supreme Court relied upon of Munjal Sales Corporation (168 Taxmann 43), where it was found that funds were provided out of the own funds and not from borrowed funds. Therefore, same is on different facts and distinguishable. The decision of the Hon'ble Madras High Court relied upon in CIT Vs. RPG Transmission (supra) was held to be for the purpose of the business which is not the case before us. In that particul…

M/S. Menora Developers & Infrastructures Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result appeal of the assessee as well as of the revenue are dismissed

ITA 2716/DEL/2016[2011-12]Status: DisposedITAT Delhi25 Sept 2018AY 2011-12

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishiito, Vs. Menora Developers & Ward-16(4), Infrastructure Pvt. Ltd, Room No. 304, Cr Building, A-60, Naraina Industrial Ip Estate, New Delhi Area-I, New Delhi Pan: Aafcm9587Q (Appellant) (Respondent) Menora Developers & Vs. Ito, Infrastructure Pvt. Ltd, Ward-16(4), A-60, Naraina Industrial Area-I, Room No. 304, Cr Building, New Delhi Ip Estate, New Delhi Pan: Aafcm9587Q (Appellant) (Respondent)

For Appellant: Shri Arvind Kumar, AdvFor Respondent: Ms. Ashima Neb, Sr. DR
Section 143(3)Section 14ASection 36Section 36(1)(iii)Section 8D

…r the purpose of the business” and held it to be wide. In the present case before us there is no business carried on by the assessee except the activity of granting loan. The other decision of the Hon'ble Supreme Court relied upon of Munjal Sales Corporation (168 Taxmann 43), where it was found that funds were provided out of the own funds and not from borrowed funds. Therefore, same is on different facts and distinguishable. The decision of the Hon'ble Madras High Court relied upon in CIT Vs. RPG Transmission (supra) was held to be for the purpose of the business which is not the case before us. In that particul…

Nayan T. Shah, Mumbai vs. DCIT Cir 23(3), Mumbai

The appeal of the assessee is allowed

ITA 1005/MUM/2016[2010-11]Status: DisposedITAT Mumbai18 Jul 2018AY 2010-11

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2010-11 Nayan T Shah, Dcit, Flat No.501, 5Th Floor, Circle-23(3), बनाम/ Rajyog Residency, (Now Dcit Circle-29(2), Vs. Near Vardhman Nagar, Bandra Kurla Complex, Dr. R.P. Road, Bandra (East), Mulund (West), Mumbai Mumbai-400080 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aahps3290B

Section 144Section 41(1)Section 44A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘बी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘B’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajesh Kumar, Accountant Member Assessment Year: 2010-11 Nayan T Shah, DCIT, Flat No.501, 5th Floor, Circle-23(3), बनाम/ Rajyog Residency, (Now DCIT Circle-29(2), Vs. Near Vardhman Nagar, Bandra Kurla Complex, Dr. R.P. Road, Bandra (East), Mulund (West), Mumbai Mumbai-400080 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No. AAHPS3290B "नधा"रती क" ओर से / Assessee by Shri Paresh Shapari…

ITO 6(1)(2), Mumbai vs. Amoolya Engineers P.Ltd, Mumbai

Accordingly this ground raised by the revenue is partly allowed

ITA 6294/MUM/2016[2009-10]Status: DisposedITAT Mumbai07 Dec 2017AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 6294/Mum/2016, (निर्धारणवर्ा / Assessment Year: 2009-10)

For Appellant: Shri Ram TiwariFor Respondent: Shri Bhupendra Shah
Section 143(1)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM & SHRI SANDEEP GOSAIN, JM आयकरअपीलसं./ I.T.A. No. 6294/Mum/2016, (निर्धारणवर्ा / Assessment Year: 2009-10) ITO 6(1)(2) Amoolya Engineers Pvt. Room No. 508, 5th floor, Ltd. AayakarBhavan, M. K. Road, 9A-16, Gr. Floor, बिधम/ Mumbai. TaherManison, 16 Vs. Nagdevi Area,NayanDhuru Cross Lane, Mumbai-400003. स्थायीलेखासं./जीआइआरसं./PAN/GIR No. AADCA0172F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Shri Ram Tiwari प्रत्यथीकीओरसे/Respondentby : Shri Bhupendra Shah सुनवाईकीतारीख/ : 14/09/2017 Date of Hearing…

ACIT CC 39, Mumbai vs. Diamond 'R'Us, Mumbai

In the result, both the appeals filed by the Revenue stand dismissed while both the appeals filed by the assessee are statistically allowed

ITA 3490/MUM/2014[2010-11]Status: DisposedITAT Mumbai17 Nov 2017AY 2010-11

Bench: Shri P K Bansal & Shri Amarjit Singh

For Appellant: S/Shri Vijay Mehta & Sunil HirawatFor Respondent: Smt. S. Padmaja
Section 10ASection 250Section 36(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL "D" Bench, Mumbai Before Shri P K Bansal, Vice President and Shri Amarjit Singh, Judicial Member ITA No. 2365/Mum/2014 (Assessment Year: 2010-11) M/s. Diamonds "R" Us JCIT (OSD), Central Circle-39 C/o. Karnavat & Co. Room No. 32(1), Gr. Floor 2A Kitab Mahal, 1st Floor Vs. Aayakar Bhavan, M.K. Road 192 Dr. D.N. Road, Fort Mumbai 400020 Mumbai 400001 PAN – AAAFD4507H Appellant Respondent ITA No.3490/Mum/2014 (Assessment Year: 2010-11) JCIT (OSD), Central Circle-39 M/s. Diamond "R" Us Room No. 32(1), Gr. Floor 1110, Prasad Chambers Vs. Aayakar Bhavan, M.K. Road Opera House M…

Diamonds 'R' Us, Mumbai vs. DCIT Cen Cir 39, Mumbai

In the result, both the appeals filed by the Revenue stand dismissed while both the appeals filed by the assessee are statistically allowed

ITA 2365/MUM/2014[2010-11]Status: DisposedITAT Mumbai17 Nov 2017AY 2010-11

Bench: Shri P K Bansal & Shri Amarjit Singh

For Appellant: S/Shri Vijay Mehta & Sunil HirawatFor Respondent: Smt. S. Padmaja
Section 10ASection 250Section 36(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL "D" Bench, Mumbai Before Shri P K Bansal, Vice President and Shri Amarjit Singh, Judicial Member ITA No. 2365/Mum/2014 (Assessment Year: 2010-11) M/s. Diamonds "R" Us JCIT (OSD), Central Circle-39 C/o. Karnavat & Co. Room No. 32(1), Gr. Floor 2A Kitab Mahal, 1st Floor Vs. Aayakar Bhavan, M.K. Road 192 Dr. D.N. Road, Fort Mumbai 400020 Mumbai 400001 PAN – AAAFD4507H Appellant Respondent ITA No.3490/Mum/2014 (Assessment Year: 2010-11) JCIT (OSD), Central Circle-39 M/s. Diamond "R" Us Room No. 32(1), Gr. Floor 1110, Prasad Chambers Vs. Aayakar Bhavan, M.K. Road Opera House M…

JCIT (OSD) CC 39, Mumbai vs. Diamond 'R' Us, Mumbai

In the result, both the appeals filed by the Revenue stand dismissed while both the appeals filed by the assessee are statistically allowed

ITA 4935/MUM/2012[2009-10]Status: DisposedITAT Mumbai17 Nov 2017AY 2009-10

Bench: Shri P K Bansal & Shri Amarjit Singh

For Appellant: S/Shri Vijay Mehta & Sunil HirawatFor Respondent: Smt. S. Padmaja
Section 10ASection 250Section 36(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL "D" Bench, Mumbai Before Shri P K Bansal, Vice President and Shri Amarjit Singh, Judicial Member ITA No. 2365/Mum/2014 (Assessment Year: 2010-11) M/s. Diamonds "R" Us JCIT (OSD), Central Circle-39 C/o. Karnavat & Co. Room No. 32(1), Gr. Floor 2A Kitab Mahal, 1st Floor Vs. Aayakar Bhavan, M.K. Road 192 Dr. D.N. Road, Fort Mumbai 400020 Mumbai 400001 PAN – AAAFD4507H Appellant Respondent ITA No.3490/Mum/2014 (Assessment Year: 2010-11) JCIT (OSD), Central Circle-39 M/s. Diamond "R" Us Room No. 32(1), Gr. Floor 1110, Prasad Chambers Vs. Aayakar Bhavan, M.K. Road Opera House M…

Diamonds 'R' Us, Mumbai vs. Jt.C.I.T. (OSD) Central Circle 39, Mumbai

In the result, both the appeals filed by the Revenue stand dismissed while both the appeals filed by the assessee are statistically allowed

ITA 4583/MUM/2012[2009-10]Status: DisposedITAT Mumbai17 Nov 2017AY 2009-10

Bench: Shri P K Bansal & Shri Amarjit Singh

For Appellant: S/Shri Vijay Mehta & Sunil HirawatFor Respondent: Smt. S. Padmaja
Section 10ASection 250Section 36(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL "D" Bench, Mumbai Before Shri P K Bansal, Vice President and Shri Amarjit Singh, Judicial Member ITA No. 2365/Mum/2014 (Assessment Year: 2010-11) M/s. Diamonds "R" Us JCIT (OSD), Central Circle-39 C/o. Karnavat & Co. Room No. 32(1), Gr. Floor 2A Kitab Mahal, 1st Floor Vs. Aayakar Bhavan, M.K. Road 192 Dr. D.N. Road, Fort Mumbai 400020 Mumbai 400001 PAN – AAAFD4507H Appellant Respondent ITA No.3490/Mum/2014 (Assessment Year: 2010-11) JCIT (OSD), Central Circle-39 M/s. Diamond "R" Us Room No. 32(1), Gr. Floor 1110, Prasad Chambers Vs. Aayakar Bhavan, M.K. Road Opera House M…

DCIT Cir 6(3)(1), Mumbai vs. Faco Fastners P.Ltd, Mumbai

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

ITA 1641/MUM/2017[2010-11]Status: DisposedITAT Mumbai26 Oct 2017AY 2010-11

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Dcit Cir 6(3)(1) Vs. M/S. Faco Fastners Pvt. R.No.506, 5Th Floor, Aayakar Ltd., Bhavan 196, Mutton Street M.K.Road, Mumbai – 400 Null Bazar, 020 Mumbai – 400 003 Pan/Gir No. Aabcf2490D Appellant) .. Respondent)

Section 143(3)Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “J”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN, JM DCIT CIR 6(3)(1) Vs. M/s. Faco Fastners Pvt. R.No.506, 5th Floor, Aayakar Ltd., Bhavan 196, Mutton Street M.K.Road, Mumbai – 400 Null Bazar, 020 Mumbai – 400 003 PAN/GIR No. AABCF2490D Appellant) .. Respondent) Revenue by Ms. Arju Garodia Assessee by Shri Kartik Mehta Date of Hearing 24/08/2017 Date of Pronouncement 26/10/2017 आदेश / O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by the revenue against the order of CIT(A)- 12, Mumbai dated 16/12/2016 for the A.Y.2010-11 in the matter of order…

ITO 6(3)(3), Mumbai vs. Jostars Orogotech P.Ltd, Mumbai

In the result, this appeal by the Revenue stands partly allowed and cross objection by the assessee stands dismissed

ITA 1288/MUM/2017[2009-10]Status: DisposedITAT Mumbai03 Oct 2017AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Shaktijit Dey, Jm

For Appellant: Shri J.P.BairagraFor Respondent: Shri Purushottam Kumar
Section 133(6)Section 143(3)Section 147Section 69

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ ‘D’, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI Before Shri Shamim Yahya, AM & Shri Shaktijit Dey, JM ITA No.1288/Mum/2017 : Asst.Years 2009-2010 The Income Tax Officer M/s.Jostars Orogotech Pvt. Ltd. बनाम/ Ward 6(3)(3) A-501 Innova Marathon, Next to Gen Mumbai. Off Ganpatrao Kadam Marg Vs. Lower Parel, Mumbai – 400 013. PAN : AABCJ3749B. (अपीलाथ" /Appellant) (""यथ"/Respondent) CO No.191/Mum/2017 : Asst.Years 2009-2010 M/s.Jostars Orogotech Pvt. Ltd. The Income Tax Officer बनाम/ A-501 Innova Marathon, Next to Gen Ward 6(3)(3) Off Ganpatrao Kadam Marg…