Phool Chand Gajanand v. CIT

M/S. Growmore Research & Assets Management Ltd., Mumbai vs. DCIT Cent. Cir. - 4(3), Mumbai

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

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 1991-92 Dcit, M/S. Growmore Research Cent. Cir.-4(3) & Assets Management Central Range-4, Ltd., Room No.1921, 32, Madhuli Apartment, Vs. 19Th Floor, 3Rd Floor, Air India Bldg., Dr. Annie Besant Road, Nariman Point, Worli, Mumbai – 400 018 Mumbai - 400021 Pan: Aaacg4936C (Appellant) (Respondent) Assessment Year: 1991-92 M/S. Growmore Research Dcit & Assets Management Cent. Cir.-4(3), Ltd., Central Range-4, 32, Madhuli Apartment, Room No.1921, 3Rd Floor, Vs. 19Th Floor, Dr. Annie Besant Road, Air India Bldg., Worli, Mumbai – 400 018 Nariman Point, Pan: Aaacg4936C Mumbai - 400021

…not be enhanced from what was determined at the time of original assessment proceedings, which was the subject matter of dispute before the Tribunal. This proposition of law has been upheld by the Hon'ble Supreme Court in Hukumchand Mills Ltd. v/s CIT, [1966] 62 ITR 232 (SC), and had 86 ITA No.259/M/2019 & ors. M/s. Growmore Research & Assets Management Ltd. now been reiterated in Mcorp Global (P) Ltd. (supra). Therefore, in view of this proposition of law, the enhancement of assessment by making 100% disallowance in respect of free food allowance cannot be sustained and the same is restricted to 50%, as was made…

Deputy Commissioner of Income Tax Central Circle-4(3), Central Range-4, Mumbai vs. M/S.Growmore Research & Asset Management Limited, Mumbai

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

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 1991-92 Dcit, M/S. Growmore Research Cent. Cir.-4(3) & Assets Management Central Range-4, Ltd., Room No.1921, 32, Madhuli Apartment, Vs. 19Th Floor, 3Rd Floor, Air India Bldg., Dr. Annie Besant Road, Nariman Point, Worli, Mumbai – 400 018 Mumbai - 400021 Pan: Aaacg4936C (Appellant) (Respondent) Assessment Year: 1991-92 M/S. Growmore Research Dcit & Assets Management Cent. Cir.-4(3), Ltd., Central Range-4, 32, Madhuli Apartment, Room No.1921, 3Rd Floor, Vs. 19Th Floor, Dr. Annie Besant Road, Air India Bldg., Worli, Mumbai – 400 018 Nariman Point, Pan: Aaacg4936C Mumbai - 400021

…not be enhanced from what was determined at the time of original assessment proceedings, which was the subject matter of dispute before the Tribunal. This proposition of law has been upheld by the Hon'ble Supreme Court in Hukumchand Mills Ltd. v/s CIT, [1966] 62 ITR 232 (SC), and had 86 ITA No.259/M/2019 & ors. M/s. Growmore Research & Assets Management Ltd. now been reiterated in Mcorp Global (P) Ltd. (supra). Therefore, in view of this proposition of law, the enhancement of assessment by making 100% disallowance in respect of free food allowance cannot be sustained and the same is restricted to 50%, as was made…

Volkswagen Finance P.Ltd, Mumbai vs. ITO (It) 4(3)(2), Mumbai

In the result, the appeal is dismissed

…ent (Department) in appeal before the Tribunal and it was so raised. The position on this question, relating to power and jurisdiction of the Tribunal is more than clear as per decision of Allahabad High Court in the case of Phool Chand Gajanand v. CIT [1966] 62 ITR 232 which has been applied by Full Bench of jurisdictional High Court in the case of Ahmedabad Electricity Co. Ltd. v. CIT [1993] 199 ITR 351 (Bom.). Their Lordships have discussed in detail, as to how powers of the Tribunal are to be exercised. In the case of Hukumchand Mills Ltd. v. CIT [1967] 63 ITR 232 (SC), which has been followed by the Hon'ble…

Asst CIT Cen Cir 29, Mumbai vs. Shah Rukh Khan, Mumbai

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood, Jm & Shri N.K.Pradhan, Am Dy. Commissoner Of Income-Tax, Shri Shah Rukh Khan Central Circle-4(2), Mumbai 44-Mannat, B.J. Road, Band बिधम/ (Erstwhile Assistant Commissioner Of Income Stand, Bandra (West), Tax, Central Circle-29, Mumbai) Mumbai-400 050. Vs. R. No. 1918, 19Th Floor, Air India Building, Nariman Point, Mumbai-400 021 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aahpk3293L (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

…e objection in writing and the same without putting the revenue to notice in advance, could be orally raised in the course of the hearing of the appeal. The ld. A.R had relied on the following judicial pronouncements: (i). Hukumchand Mills Ltd. Vs. CIT (1966) 62 ITR 232 (SC) : We find that the Hon'ble Apex Court had in the aforesaid judgment deliberated on the powers of the Tribunal as contemplated in Sec.33(4) of the Income Tax, 1922 r.w. Rule 12 and Rule 27 of the Appellate Tribunal Rules, 1946. The Hon'ble Apex Court had observed that Rule 12 and Rule 27 which were merely procedural in character, did not in an…