How many judgments cite Shambhu Investment (P) Ltd. v. CIT?

181 judgments on BharatTax cite Shambhu Investment (P) Ltd. v. CIT (263 ITR 143), spanning 2010 to 2026.

Which sections of the Income Tax Act does Shambhu Investment (P) Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 22, Section 24, Section 14A, Section 2(13), Section 37(1).

Shambhu Investment (P) Ltd. v. CIT

263 ITR 143Supreme Court of India2003#525 most cited

What is Shambhu Investment (P) Ltd. v. CIT authority for?

Income derived from letting out property along with incidental use of furniture, fixtures, and common facilities is assessable as 'income from house property' and not 'business income' when the prime object is merely to let out and not to exploit the property as a business asset.

181

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2010 to 2026.

Also referred to as

Shambhu Investment (P) Ltd. v. CIT · 263 ITR 143 · income from house property · business income · Section 22 Income Tax Act · Section 37(1) Income Tax Act · rental income classification · letting property with amenities · exploitation of property · dominant object letting · Section 2(13) business definition · income classification Supreme Court

Also reported as

129 Taxmann 70

Sections most often in play

Section 143(3)Section 22 Section 24 Section 14A Section 2(13)Section 37(1)Section 250 Section 57(iii)

Issues it is cited on

annual value section 24(a)section 22 disallowance under section 14a section 24 section 37(1)scrutiny assessment income from other sources section 14a salary section 80 transfer

Judgments citing Shambhu Investment (P) Ltd. v. CIT

INCOME TAX OFFICER, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

ITA 104/ASR/2024[2017-18]Status: DisposedITAT Amritsar15 Jan 2026AY 2017-18

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

Section 143(3)Section 148Section 250Section 35A

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE SH. MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER AND SH. UDAYAN DASGUPTA, JUDICIAL MEMBER (Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 and 2017-18 ITO, Ward-3(1), Vs. M/s Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [PAN:-AARPM5393F] (Appellant) (Respondent) Sh. Ashray Sarna, CA Appellant by Respondent by Sh. Sunil Gautam, CIT. DR 16.12.2025 Date of Hearing Date of Pronouncement 15.01.2026 ORDER Per: Udayan Dasgupta, J.M.: Both these appeals are filed by the revenue against the orders of ld. CIT (A), NFAC, De…

INCOME TAX OFFICER, WARD-3(1),FEROZEPUR, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

ITA 103/ASR/2024[2014-15]Status: DisposedITAT Amritsar15 Jan 2026AY 2014-15

Section 143(3)Section 148Section 250Section 35A

DCIT, CIRCLE -3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz

ITA 314/VIZ/2025[2014-15]Status: DisposedITAT Visakhapatnam26 Nov 2025AY 2014-15

Bench: Shri Ravish Sood & Shri Balakrishnan S.

For Appellant: 1.Shri Karnjot Singh KhuranaFor Respondent: Shri Badicala Yadagiri, CIT-DR

Section 143(3)

…om house property and not as business income. Private Limited vs. DCIT Ground 2.3. The Ld. CIT(A) erred in deleting the addition by holding that the facts of the case in the judgment of Hon'ble Apex court in the case of Shambhu Investment (P) Ltd. reported in 263 ITR 143) that the A0 relied upon, are different and not applicable as there are separate agreements between appellant and the lessee in nature of housekeeping agreement, security services agreement, transport services, maintenance of playground etc. and hence, the rental income of Rs.42,94,42,496/- forms part of business income and not house property inc…

DCIT, CIRCLE - 3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz

ITA 206/VIZ/2025[2018-19]Status: DisposedITAT Visakhapatnam26 Nov 2025AY 2018-19

Bench: Shri Ravish Sood & Shri Balakrishnan S.

For Appellant: 1.Shri Karnjot Singh KhuranaFor Respondent: Shri Badicala Yadagiri, CIT-DR

Section 143(3)

DCIT, CIRCLE - 3(1), , VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

ITA 205/VIZ/2025[2017-18]Status: DisposedITAT Visakhapatnam26 Nov 2025AY 2017-18

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.314/Viz/2025 (निर्धारण वर्ष/Assessment Year:2014-15) Deputy Commissioner Of Vs. Nord Anglia Education Income Tax, Circle-3(1), Visakhapatnam. (Appellant) Infrastructure Private Limited, Visakhapatnam. Pan: Aabcv2255L (Respondent) निर्धारिती द्वारा/Assessee By: 1.Shri Karnjot Singh Khurana, Advocate, 2. Shri Snehal Rajan Shukla, Advocate, 3. Shri Avar Lamba, Advocate. राजस्व द्वारा/Revenue By: Shri Badicala Yadagiri, Cit-Dr आ.अपी.सं /Ita No.205/Viz/2025 (निर्धारण वर्ष/Assessment Year: 2017-18) Deputy Commissioner Of Vs. M/S. Nord Anglia Income Tax, Circle-3(1), Visakhapatnam. (Appellant) Education Infrastructure Private Limited, Visakhapatnam. Pan: Aabcv2255L (Respondent) निर्धारिती द्वारा/Assessee By: 1. Shri Karnjot Singh Khurana, Advocate, 2. Shri Snehal Rajan Shukla, Advocate, 3. Shri Avar Lamba, Advocate. राजस्व द्वारा/Revenue By: Shri Badicala Yadagiri, Cit-Dr 2

For Appellant: 1.Shri Karnjot Singh KhuranaFor Respondent: Shri Badicala Yadagiri, CIT-DR

Section 143(3)

…iz/2024 Nord Anglia Education Infrastructure Private Limited vs. DCITI Ground 2.3. The Ld. CIT(A) erred in deleting the addition by holding that the facts of the case in the judgment of Hon'ble Apex court in the case of Shambhu Investment (P) Ltd. reported in 263 ITR 143) that the A0 relied upon, are different and not applicable as there are separate agreements between appellant and the lessee in nature of housekeeping agreement, security services agreement, transport services, maintenance of playground etc. and hence, the rental income of Rs.42,94,42,496/- forms part of business income and not house property inc…

GOWTHAM RESIDENTIAL JUNIOR COLLEGE,VIJAYAWADA vs. ACIT, CENTRAL CIRCLE, VIJAYAWADA

In the result, appeals of the assessee are allowed

ITA 26/VIZ/2022[2013-14]Status: DisposedITAT Visakhapatnam24 Jun 2025AY 2013-14

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos.25 & 26/Viz/2022 (निर्धारण वर्ा/ Assessment Years: 2017-18 & 2013-14) Gowtham Residential Junior College V. Asst. Cit-Central Circle Vijayawada 1-87, Gudavalli Village Gudavalli, Vijayawada – 521104 Andhra Pradesh [Pan: Aaefg4399L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 255(4)

…not at all applicable to the facts of the case inasmuchas in the case of Universal Plast Ltd. VS.CIT (1999) 103 Taxmann 493 (SC), the assessee had no intention to continue the business; in East India Housing and Land Development 42 ITR 49, Shambhu Investments 263 ITR 143 and Keyman Hotels 63 Taxmann.com 301, the very intention of the assessee was to create the asset for the purpose of letting it out, whereas, the intention of the assessee in this case was to run the educational institute on its own, but only due to certain adverse circumstances, the letting of the entire business took place. 6. Per contra, learne…

GOWTHAM RESIDENTIAL JUNIOR COLLEGE,VIJAYAWADA vs. ACIT, CENTRAL CIRCLE, VIJAYAWADA

In the result, appeals of the assessee are allowed

ITA 25/VIZ/2022[2017-18]Status: DisposedITAT Visakhapatnam24 Jun 2025AY 2017-18

Section 255(4)

DCIT 2 2 1, MUMBAI vs. M S LUVISH INFOTECH PROJECTS PRIVATE LIMITED, MUMBAI

In the result, the appeal filed by the revenue bearing ITA

ITA 815/MUM/2025[2012-13]Status: DisposedITAT Mumbai17 Jun 2025AY 2012-13

Bench: Shri Vikram Singh Yadav & Shri Anikesh Banerjeedcit (2)(2)(1), Mumbai Vs M/S Luvish Infotech Projects 5Th Room No.545, Floor, Private Limited, Aayakar Bhavan, M.K. Road, Cts 102/2, Sani Armaa, Raut Lane, Mumbai-400 020 Juhu, Vile Parle West, Mumbai-400 049 Pan : Aadcm4966H Appellant Respondent

For Appellant: Shri Shobhit Mishra & Mr. Mahaveer JainFor Respondent: Shri Annavaram Kosuri SR.AR

Section 143(3)Section 14ASection 14A(1)Section 250Section 72

…e case and in law, the Ld. CIT(A) justified in treating the income offered by the assessee as house property income instead of business income without appreciating the decision of Hon’ble Supreme Court in the case of Shambhu Investments (P) Ltd. V. CIT [2003] 263 ITR 143 (SC), wherein it was held that where the prime object of the assessee under the agreement was to let out a portion of the property to various occupants by giving them additional right of using furniture and fixtures and other common facilities for which rent was being paid month by month in addition to the security free advance covering the entir…

DCIT, RANGE-3, LUCKNOW vs. M/S WELLDONE INFRASTRUCTURE PVT. LTD., LUCKNOW

In the result, the appeal of the Revenue is dismissed

ITA 406/LKW/2020[2017-18]Status: DisposedITAT Lucknow22 Apr 2025AY 2017-18

Bench: Sh.Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y.2017-18 Dy. Commissioner Of Income Tax, Vs. M/S Welldone Infrastructure Range-3, Lucknow Private Limited, Lucknow Pan:Aaacw6354Q (Appellant) (Respondent) Assessee By: Sh. B.P. Yadav, Advocate Revenue By: Sh. Amit Singh Chauhan, Addl (Cit) & Sh. Sunil Kumar Rajwanshi, Addl Cit (Dr) Date Of Hearing: 10.02.2025 Date Of Pronouncement: 22.04.2025 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Cit(A)-2, Lucknow Under Section 250 Of The Income Tax Act, 1961 Allowing The Appeal Of The Assessee Against The Order Passed By The Ld. Ao Under Section 143(3) On 19.12.2019. The Grounds Of Appeal Are As Under:- “1. That The Ld. Cit(A)-2, Lucknow Has Erred In Law & On Facts In Deleting The Addition Of Rs.2,26,72,571/- Without Appreciate The Fact That The Assessee Is Involved In The Business Of Developing Properties & Selling It & Is Earning Rental Income Which Is Incidental To The "Revenue From Business Operations" Of The Assessee. 2. Ld. Cit(A) Had Erred In Law & On Facts Ignoring The Fact That The Assessee, While Filing Original Return Of Income Had Itself Considered That Rental Are In The Nature Of Revenue From Business Operations.

For Appellant: Sh. B.P. Yadav, AdvocateFor Respondent: Sh. Amit Singh Chauhan, Addl (CIT) & Sh

Section 143(3)Section 22Section 250

…. The assesse also quoted from the judgment of the Hon’ble Supreme Court in the case of Sultan Brothers (P.) Ltd. vs. CIT (1964) 51 ITR 353 and decisions of various Hon’ble High Courts and Tribunals in the cases of Shambhu Investment (P.) Ltd., vs. CIT (2003) 263 ITR 143, Atma Ram Properties P. Ltd. vs. JCIT (2006) 102 TTJ (Delhi)[SB], CIT vs. Gundecha Builders (2019) 102 taxman.com 27 (Bom) and ACIT vs. Ashapura Developers (ITAT Mumbai)wherein all the Courts and Tribunals had held that where the assessee was not having the dominant business of letting out of properties but was essentially acquiring, developing a…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), , GUNTUR vs. BBM ESTATES PRIVATE LIMITED, GUNTUR

In the result, Revenue appeal is allowed and the C

ITA 185/VIZ/2024[2020-21]Status: DisposedITAT Visakhapatnam01 Apr 2025AY 2020-21

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnan.आ.अपी.सं /Ita No.185/Viz/2024 (िनधा"रण वष"/Assessment Year: 2020-21) Acit Vs. Bbm Estates (P) Ltd Circle 1(1) Guntur Guntur Pan: Aaace2607G (Appellant) (Respondent) C.O No.12/Viz/2024 (Arising Out Of Ita No.1895/Viz/2024) Bbm Estates (P) Ltd Vs. Acit Guntur Circle 1(1) Pan: Aaace2607G Guntur (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri G.V.N. Hari, Ca राज" व "ारा/Revenue By:: Shri Satyasai Rath, Dr सुनवाई की तारीख/Date Of Hearing: 07/01/2025 घोषणा की तारीख/Pronouncement: 01/04/2025 आदेश/Order

For Appellant: Shri G.V.N. Hari, CAFor Respondent: : Shri Satyasai Rath, DR

…ITA No 185 of 2024 and CO 12 of 2024 BBM Estates P Ltd IN THE INCOME TAX APPELLATE TRIBUNAL Visakhapatnam Benches, Visakhapatnam Before Shri Vijay Pal Rao, Vice-President A N D Shri S. Balakrishnan. Accountant Member आ.अपी.सं /ITA No.185/Viz/2024 (िनधा"रण वष"/Assessment Year: 2020-21) ACIT Vs. BBM Estates (P) Ltd Circle 1(1) Guntur Guntur PAN: AAACE2607G (Appellant) (Respondent) C.O No.12/Viz/2024 (Arising out of ITA No.1895/Viz/2024) BBM Estates (P) Ltd Vs. ACIT Guntur Circle 1(1) PAN: AAACE2607G Guntur (Appellant) (Respondent) िनधा""रती "ारा/Assessee by: Shri G.V.N. Hari, CA राज" व "ारा/Revenue by:: Shr…

DY.CIT , CIRCLE -7(1) (1) , MUMBAI vs. M/S. NATIONAL STOPCK EXCHANGE OF INDIA LTD, MUMBAI

ITA 1467/MUM/2022[2006+-07]Status: DisposedITAT Mumbai28 Feb 2025

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Appellant: Shri J.D.Mistry, Sr. AdvocateFor Respondent: Shri Kailash C. Kanojiya, CIT DR

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 1089/MUM/2022 Assessment Year: 2006-07 | National Stock Exchange of | Deputy Commissioner of India Ltd., Income-tax, Exchange Plaza, Circle - 7(1)(1), Bandra Kurla Complex, Vs. Mumbai Bandra(East), Mumbai – 400051 (PAN : AAACN1797L) (Respondent) (Appellant) ITA No. 1467/MUM/2022 Assessment Year: 2006-07 | Deputy Commissioner of | National Stock Exchange of India Income-tax, Ltd., Circle - 7(1)(1), Exchange Plaza, Vs. Mumbai Bandra Kurla Complex, Bandra(Eas…

NATIONAL STOCK EXCHANGE OF INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, MUMBAI

ITA 1094/MUM/2022[2015-16]Status: DisposedITAT Mumbai28 Feb 2025AY 2015-16

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Respondent: Shri J.D.Mistry, Sr. Advocate

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 1089/MUM/2022 Assessment Year: 2006-07 National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra(East), Mumbai – 400051 (PAN : AAACN1797L) (Appellant) Vs. Deputy Commissioner of Income-tax, Circle 7(1)(1), Mumbai (Respondent) ITA No. 1467/MUM/2022 Assessment Year: 2006-07 Deputy Commissioner of Income-tax, Circle - 7(1)(1), Mumbai Vs. National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra(East), M…

NATIONAL STOCK EXCHANGE OF INDIA LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX -CIRCLE 7(1)(1), MUMBAI

ITA 1092/MUM/2022[2012-13]Status: DisposedITAT Mumbai28 Feb 2025AY 2012-13

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Respondent: Shri J.D.Mistry, Sr. Advocate

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 1089/MUM/2022 Assessment Year: 2006-07 | National Stock Exchange of | Deputy Commissioner of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra(East), Mumbai – 400051 (PAN : AAACN1797L) (Appellant) Vs. Income-tax, Circle 7(1)(1), Mumbai (Respondent) ITA No. 1467/MUM/2022 Assessment Year: 2006-07 | Deputy Commissioner of | National Stock Exchange of India Income-tax, Circle - 7(1)(1), Mumbai Vs. Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra(East)…

NATIONAL STOCK EXCHANGE OF INDIA LIMITED ,MUMBAI vs. DY COMMISSIONER OF INCOME TAX -CIRCLE 7(1)(1), MUMBAI

In the result, all the five appeals of the assessee are partly allowed and the appeal of the Revenue is dismissed

ITA 1091/MUM/2022[2011-12]Status: DisposedITAT Mumbai28 Feb 2025AY 2011-12

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawalassessment Year: 2006-07

For Appellant: Shri J.D.Mistry, Sr. Advocate and Shri Harsh KapadiaFor Respondent: Shri Kailash C. Kanojiya, CIT DR and Ms Monika H. Pande, Sr.AR

Section 1Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2006-07 National Stock Exchange of Deputy Commissioner of India Ltd., Income-tax, Exchange Plaza, Circle – 7(1)(1), Bandra Kurla Complex, Vs. Mumbai Bandra(East), Mumbai – 400051 (PAN : AAACN1797L) (Appellant) (Respondent) Assessment Year: 2006-07 Deputy Commissioner of National Stock Exchange of India Income-tax, Ltd., Circle – 7(1)(1), Exchange Plaza, Mumbai Vs. Bandra Kurla Complex, Bandra(East), Mumbai – 400051 (PAN : AAACN1797L) (Appellant) (…

NATIONAL STOCK EXCHANGE OF INDIA LTD,MUMBAI vs. DCIT -CIRCLE 7(1) (1) , MUMBAI

ITA 1090/MUM/2022[2010-11]Status: DisposedITAT Mumbai28 Feb 2025AY 2010-11

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

Section 14A

NATIONAL STOCK EXCHANGE OF INDIA LTD,MUMBAI vs. DY CIT -CIRCLE 7(1) (1) , MUMBAI

ITA 1089/MUM/2022[2006-07]Status: DisposedITAT Mumbai28 Feb 2025AY 2006-07

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Respondent: Shri J.D.Mistry, Sr. Advocate

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 1089/MUM/2022 Assessment Year: 2006-07 | National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra(East), Mumbai – 400051 (PAN : AAACN1797L) (Appellant) Vs. Deputy Commissioner of Income-tax, Circle – 7(1)(1), Mumbai (Respondent) ITA No. 1467/MUM/2022 Assessment Year: 2006-07 Deputy Commissioner of Income-tax, Circle - 7(1)(1), Mumbai Vs. National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra(East), M…

Commissioner of Income Tax-III vs. Sri N.Sai Baba Naidu

ITTA/319/2012HC Telangana06 Jan 2025

Bench: J SREENIVAS RAO,ALOK ARADHE

Section 143(1)Section 143(3)Section 24Section 56Section 56(2)(iii)

…ITA 319/2012 Page 1 of 9 $~8 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 22nd November, 2012 + ITA 319/2012 GARG DYEING & PROCESSING INDUSTRIES ..... Appellant Through: Mr. Rajiv Saxena with Mr. Rajat Joseph, Advs. versus ASSTT COMMISSIONER OF INCOME TAX ..... Respondent Through: Mr. Sanjeev Sabharwal, sr. standing counsel with Mr. Puneet Gupta, jr. standing counsel CORAM: MR. JUSTICE S. RAVINDRA BHAT MR. JUSTICE R.V. EASWAR R.V.…

E M C PROJECTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 7(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 1063/KOL/2024[2014-2015]Status: DisposedITAT Kolkata20 Aug 2024AY 2014-2015

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 1063/Kol/2024 Assessment Year: 2014-2015 Emc Projects Pvt. Limited,………………..………Appellant 2, Robinson Street, Shakespeare Sarani, Kolkata-700017 [Pan:Aaace7218F] -Vs.- Deputy Commissioner Of Income Tax,………Respondent Circle-7(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri S.K. Tulsiyan, Advocate, Appeared On Behalf Of The Assessee Shri Jitendra Kantilal Surti, Jcit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : August 12, 2024 Date Of Pronouncing The Order : August 20, 2024 O R D E R

Section 142(1)Section 143(2)Section 143(3)Section 263Section 263(1)

…a house property income or a business income. As far as the issue is concerned, we deem it appropriate to take note the judgment of the Hon’ble Jurisdictional High Court in the case of Shambhu Investment Pvt. Limited 9 EMC Projects Pvt. Limited reported in 263 ITR 143. Hon’ble Court, however, considering the judgment of the Hon’ble Supreme Court in the case of Sultan Brothers Pvt. Limited -vs.- CIT [1964] 51 ITR 353 (SC), has propounded certain tests. We deem it appropriate to take note the discussion made by the Hon’ble Court on this issue, which reads as under:- “11. In the light of the above, let us now app…

M/S ACTIVE SECURITIES LIMITED,NEW DELHI vs. ITO, NEW DELHI

The appeals are allowed

ITA 2335/DEL/2016[2012-13]Status: DisposedITAT Delhi27 May 2024AY 2012-13

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Puneet Agarwal, AdvFor Respondent: Shri Kanv Bali, Sr. DR

Section 143(3)Section 143(3)(ii)Section 24

…erprise which it has entered upon is of providing special facilities. 23. We also find that decision Hon'ble Calcutta High Court in CIT vs. Shambhu Investment Pvt. Ltd reported in 249 ITR 47, which was approved by Hon'ble Supreme Court in judgment reported at 263 ITR 143, their Lordships had an occasion to elaborately deal with judicial precedents on whether rental income could be taxed under head business profits, and their Lordships concluded as follows: "Taking a sum total of aforesaid discussions, it clearly appears that merely because income is attached to any immovable property cannot be the sole factor for…

DCIT- 8(2)(1), MUMBAI vs. PIRAMAL ESTATES PRIVATE LIMITED , MUMBAI

In the result, all the appeals of the revenue are dismissed

ITA 2015/MUM/2023[2010-11]Status: DisposedITAT Mumbai20 Dec 2023AY 2010-11

Bench: Shri Kuldip Singh & Shri Gagan Goyal

For Appellant: Shri Ronak Doshi/Priyank Gandhi/MsFor Respondent: Shri N. V. Nadkarni, Ld. CIT-DR

Section 14ASection 24Section 250

…come from Business and Professions by placing a strong reliance on the decision of the Hon'ble Calcutta High Court in the case of Piramal Estates Pvt. Ltd. Shambhu Investments Pvt. Ltd. v. CIT [2001] 249 ITR 47 affirmed by the Hon'ble Supreme Court in [2003] 263 ITR 143. Further the AO in para 5.10 of the AO's order, observed that security deposit was covering the entire cost of the aforementioned immovable property. III. Action of the Commissioner of Income -tax (Appeals) ["the CIT (A)"1: 1. The Ld. CIT (A) has allowed the Assessee's Appeal after carefully perusing the Service Centre documents. The Ld. CIT (A)…

Showing 1–20 of 181 · Page 1 of 10

...