Somu Realtors Pvt. Ltd. v. DCIT

173 ITR 82High Court#19515 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2021 to 2024.

Sections most often in play

Section 23(1)(a)Section 23(1)(c)Section 23(2)(a)Section 23(2)(b)Section 23(3)(a)

Issues it is cited on

section 23(1)(c)section 23(1)(a)section 23(1)annual value section 23 business

Judgments citing Somu Realtors Pvt. Ltd. v. DCIT

Deputy Commissioner of Income Tax -23(1), Mumbai vs. Laxmi Finance and Leasing Companies Co-Op. Society Ltd, Mumbai

In the result, appeals of the Revenue and Cross

ITA 4233/MUM/2023[2015-16]Status: DisposedITAT Mumbai29 Aug 2024AY 2015-16

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 23(1)(a)

…be determined at Rs. Nil u/s.23(1)(c) of the Act. 4.5. We find that the ld. AR placed reliance on the decision of this Tribunal in the case of Sachin R Tendulkar vs. DCIT reported in 172 ITR 266 and in the case of Somu Realtors Pvt. Ltd., vs. DCIT reported in 173 ITR 82 wherein it was held that in respect of vacant properties annual value need to be determined in accordance with Section 23(1)(c) of the Act if property remains vacant for the whole of the year. 4.6. Per contra, the ld. DR placed reliance on the decision of the Hon‟ble Andhra Pradesh High Court in the case of Vivek Jain vs. ACIT reported in 14 Taxma…

Bharat Dewakinandan Agarwal, Pune vs. ACIT, Circle-13, Pune.

In the result, the appeal of assessee is partly allowed for statistical purpose

ITA 884/PUN/2023[2016-17]Status: DisposedITAT Pune20 Mar 2024AY 2016-17

Bench: Shri Om Prakash Kant & Shri S.S. Viswanethra Ravi

For Appellant: Shri V.L. JainFor Respondent: Shri Ramnath P. Murkunde

Section 143(2)Section 143(3)Section 23(1)Section 23(1)(a)Section 24

…provisions of section 23(1)(a) of the Act and further held non-applicability of section 23(1)(c) of the Act. In view of the same, held orders in the case of Shri Vikas Keshav Garud in ITA No. 747/PUN/2014 and in the case of Sonu Realtors Pvt. Ltd. reported in 173 ITR 82 (Bombay) are not applicable. Therefore, we hold the order of this Tribunal in the case of Arihant Patni (supra) is applicable for the facts and circumstances in the present case. 7. The Hon’ble High Court of Bombay in the case of Tip Top Typography reported in 368 ITR 330 (Bom) dismissed the appeal of Revenue and observed that section 23(1)(a) of…

Dy Commissioner of Income Tax-23(1), Mumbai vs. M/S Laxmi Finance & Leasing Companies Commercial Premises Co-Op Soc. Ltd, Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1689/MUM/2022[2017-2018]Status: DisposedITAT Mumbai20 Sept 2022AY 2017-2018

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – 23(1) V. M/S. Laxmi Finance & Leasing Companies Commercial Premises Room No. 113, 1St Floor Co-Op. Soc., Limited Matru Mandir, Tardev Road C-25, G-Block, Mumbai – 400 007 Laxmi Towers, Near Icici Bank Bandra Kurla Complex Bandra (E), Mumbai -400051 Pan: Aabal0964G (Appellant) (Respondent) Assessee Represented By : Shri Madhur Agrawal Department Represented By : Shri Manoj Sinha

Section 23(1)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI KULDIP SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER DCIT – 23(1) v. M/s. Laxmi Finance & Leasing Companies Commercial Premises Room No. 113, 1st Floor Co-Op. Soc., Limited Matru Mandir, Tardev Road C-25, G-Block, Mumbai – 400 007 Laxmi Towers, Near ICICI Bank Bandra Kurla Complex Bandra (E), Mumbai -400051 PAN: AABAL0964G (Appellant) (Respondent) Assessee Represented by : Shri Madhur Agrawal Department Represented by : Shri Manoj Sinha Date of Hearing : 08.09.2022 Date of Pronouncement : 20.09.2022 O R D E…

Asst CIT 18(2), Mumbai vs. Laxmi Finance & Leasing Companies Commerical Premises Co Op Soc. Ltd, Mumbai

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

ITA 4708/MUM/2015[2011-12]Status: DisposedITAT Mumbai07 Sept 2021AY 2011-12

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

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA No.4709/Mum/2015 (Assessment Year :2012-13) & ITA No.4138/Mum/2014 to 4144/Mum/2014 (Assessment Year :2004-05 to 2010-11) Assistant Commissioner of Vs. M/s. Laxmi Finance & Leasing Income Tax-18(2) Companies Earnest House, Commercial Premises Co-op Soc. Room No.302, 3rd Floor Ltd. Nariman Point, Laxmi Towers, Plot No.C-25, Bandra Mumbai-400021 Kurla Complex, Bandra (E) Mumbai – 400 051 PAN/GIR No.AAAJL0006F (Appellant) .. (Respondent) ITA No.3711/Mum/2014 to 3717/Mu…