Subramanian and Anr. v. Siemens India Ltd. and Anr.

M/S. Bechtel France Sas, Mumbai vs. CIT (International Taxation)-Range-1, Mumbai

Bench: Shri Pramod Kumar () & Shri Ravish Sood () M/S Bechtel France Sas Deputy Commissioner Of Income C/O. Deloitte Haskins & Sells Vs. Tax (International Taxation), Llp, 28Th Floor, Tower 3, Indiabulls Range 1(2)(2), Room No. 1811, Finance Centre, Senapati Bapat 18Th Floor, Air India Building, Marg, Elphinstone (West) Nariman Point, Mumbai – 400 013 Mumbai – 400 021 Pan No. Aaacb2195A (Assessee) (Revenue) Assessee By : Shri Sunil M. Lala, A.R Revenue By : Shri Sunil Kumar Jha, D.R Date Of Hearing : 09/11/2021 Date Of Pronouncement : 12/11/2021 Order Per Ravish Sood, J.M:

…ITA No. 830/Mum/2021 A.Y. 2014-15 1 M/s Bechtel France SAS Vs. DCIT(IT) Range 1(2)(2) IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI PRAMOD KUMAR (VICE PRESIDENT) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) M/s Bechtel France SAS Deputy Commissioner of Income C/o. Deloitte Haskins And Sells Vs. Tax (International Taxation), LLP, 28th Floor, Tower 3, Indiabulls Range 1(2)(2), Room No. 1811, Finance Centre, Senapati Bapat 18th Floor, Air India Building, Marg, Elphinstone (West) Nariman Point, Mumbai – 400 013 Mumbai – 400 021 PAN No. AAACB2195A (Assessee) (Revenue) Assessee by : Shri Sunil…

DCIT CC 4(2), Mumbai vs. K Raheja Copr Pvt Ltd, Mumbai

Bench: Shri S. Rifaur Rahman & Shri Ravish Soodk. Raheja Corporate Services Acit-14(2)(1), Room No. 432, 4Th Floor, Pvt. Ltd., Plot No. C-30, G- Block, Opp. Sidbi, Bkc, Aayakar Bhavan, M.K. Bandra, Mumbai-400 051 Road, Mumbai-400 020. Vs. Pan: Aabcn 9309B Appellant Respondent K. Raheja Corporate Pvt. Ltd., Dcit- Central Circle 4(2), Room No. 1918, 19Th Plot No. C-30, G-Block, Opp. Sidbi, Bkc, Bandra – (E), Floor, Air India Building, Mumbai-400 051 Nariman Point, Mumbai- Vs. 400 021. Pan: Aaacp0522B Appellant Respondent Dcit, Central Circle - M/S K. Raheja Corp. Pvt. (2)(1), Central Range -4 Ltd., Plot No. C-30, Block -G, Pr.Cit (C)-2 Bkc, Bandra (Eest), Room No. 1918, 19Th Mumbai-400 051 Vs. Floor, Air India Building, Pan: Aaacp0522B Nariman Point, Mumbai-400 021. Appellant Respondent Appellant By : Shri. Madhur Aggrawal (Ar) Revenue By : Shri. Shiddaramappa (Dr) Date Of Hearing : 12.10.2021 Date Of Pronouncement: 25.10.2021

…d not income from the property. In the backdrop of the conflict between the decisions of the aforesaid non-jurisdictional High Courts, as observed by the Hon’ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), the view which is in favour of the assessee has to be preferred as against that taken against him. Accordingly, following the judgment of the Hon’ble Jurisdictional High Court in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), we respectfully follow the view taken by the Hon’ble High Court of Guja…

K. Raheja Corporate Services P.Ltd, Mumbai vs. ACIT 14(2)(1), Mumbai

Bench: Shri S. Rifaur Rahman & Shri Ravish Soodk. Raheja Corporate Services Acit-14(2)(1), Room No. 432, 4Th Floor, Pvt. Ltd., Plot No. C-30, G- Block, Opp. Sidbi, Bkc, Aayakar Bhavan, M.K. Bandra, Mumbai-400 051 Road, Mumbai-400 020. Vs. Pan: Aabcn 9309B Appellant Respondent K. Raheja Corporate Pvt. Ltd., Dcit- Central Circle 4(2), Room No. 1918, 19Th Plot No. C-30, G-Block, Opp. Sidbi, Bkc, Bandra – (E), Floor, Air India Building, Mumbai-400 051 Nariman Point, Mumbai- Vs. 400 021. Pan: Aaacp0522B Appellant Respondent Dcit, Central Circle - M/S K. Raheja Corp. Pvt. (2)(1), Central Range -4 Ltd., Plot No. C-30, Block -G, Pr.Cit (C)-2 Bkc, Bandra (Eest), Room No. 1918, 19Th Mumbai-400 051 Vs. Floor, Air India Building, Pan: Aaacp0522B Nariman Point, Mumbai-400 021. Appellant Respondent Appellant By : Shri. Madhur Aggrawal (Ar) Revenue By : Shri. Shiddaramappa (Dr) Date Of Hearing : 12.10.2021 Date Of Pronouncement: 25.10.2021

…d not income from the property. In the backdrop of the conflict between the decisions of the aforesaid non-jurisdictional High Courts, as observed by the Hon’ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), the view which is in favour of the assessee has to be preferred as against that taken against him. Accordingly, following the judgment of the Hon’ble Jurisdictional High Court in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), we respectfully follow the view taken by the Hon’ble High Court of Guja…

Petit Towers Co-Op Housing Soc. Ltd., Mumbai vs. ITO - 19(2)(5), Mumbai

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood () M/S Petit Towers Co-Op. Income Tax Officer, 19(2)(5) Housing Society Ltd. Vs. Matru Mandir, Cs 597 & 598, Petit Towers, Mumbai - 400 007 August Kranti Marg, Bomani Petit Road, Cumballa Hill, Kemps Corner, Mumbai – 400 036 Pan No. Aaaap5446J (Assessee) (Revenue) Assessee By : Shri Vijay Mehta, A.R Revenue By : Shri R. K. Sahu, D.R Date Of Hearing : 26/08/2021 Date Of Pronouncement : 01/09/2021 Order Per Ravish Sood, J.M: The Present Appeal Filed By The Assessee Is Directed Against The Order Passed By The Pr. Commissioner Of Income Tax, Mumbai-19 (For Short “Pr. Cit”), U/S 263 Of The Income Tax Act, 1961 (For Short „Act‟), Dated 17.02.2021, Which In Turn Arises From The Order Passed By The A.O U/S 143(3) Of The Act, Dated 31.08.2017. The Assessee Has Assailed The Impugned Order On The Following Grounds Of Appeal:

…ty on its investments held with a co- operative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. We find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-jurisdictional High Court‟s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Accordingly, taking support from the aforesaid judicial pronouncement of the Hon‟ble High Court of jurisdiction, we respectfully follow the view taken by the…

M/S Doshi Palace Co - Operative Hsg. Soc. Ltd., Mumbai vs. ACIT - 19(1), Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri Vikas Awasthyआअसं. 3510/मुं/2019 (िन.व.2015-16) M/S Doshi Palace Co-Operative Hsg Soc. Ltd. 24, Walkeshwar Road, Walkeshwar, Mumbai-400006. ...... अपीलाथ" /Appellant Pan: Aaaad3401H बनाम Vs. Acit-19(1), Matru Mandir, ..... "ितवाद"/Respondent Mumbai-400007 अपीलाथ" "ारा/ Appellant By : None "ितवाद" "ारा/Respondent By : Sh. Sanjay J. Sethi सुनवाई क" ितिथ/ Date Of Hearing : 23/06/2021 घोषणा क" ितिथ/ Date Of Pronouncement : 20/08/2021 आदेश/ Order Per Vikas Awasthy, J.M: This Appeal By The Assessee Is Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [Hereinafter Referred To As ‘The Cit(A)’] Dated 14.03.2019 For The Assessment Year (Ay) 2015-16. The Solitary Ground Raised By The Assessee In Appeal Is Against Rejection Of Assessee’S Claim Of Deduction Under Section 80P(2)(D) Of The Income Tax Act, 1961 [Hereinafter Referred To As ‘The Act’].

…rendered in the case of Totagars, Co-operative Sale Society (supra). 9. No judgement by the Hon’ble Jurisdictional High Court on this issue was brought to the notice of Bench. The Hon'ble Bombay High Court in the case of K. Subramanian vs. Siemens India Ltd. 156 ITR 11 has held that when two conflicting decisions of non-jurisdictional High Courts are available, the view that favours the assessee is to be preferred. Accordingly, following the decision of Hon'ble Karnataka High Court in the earlier case of Totagars Co-operative Sale Society (supra) and the decision in the case of Hon'ble Gujarat High Court in the…

M/S Sher Mohammed & Co, Mumbai vs. ACIT Ward-26(3), Mumbai

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 5986/मुं/2019 (िन.व.2009-10) M/S. Sher Mohammed & Co., Flat No. 23, 6A, Taxi Men Colony, Lbs Marg, Kurla (West), Mumbai-400070. Pan: Aasfs7479M ...... अपीलाथ- /Appellant बनाम Vs. Acit- Ward (26(3), C-11, 5Th Floor, R.No. 501, Pratyakshakar Bhavan, Bkc, Bandra (E), Mumbai-400051. ..... .ितवाद0/Respondent

…Courts where contrary view has been taken. No judgment of Hon’ble Jurisdictional High Court on this issue has been brought to our notice. Under such circumstances, the Hon’ble Bombay High Court in the case of K. Subramanian v/s Siemens India Ltd. reported as 156 ITR 11 has held that when two conflicting decisions of non-jurisdictional High Courts are available, the view that favours the assessee is to be preferred. 9. Thus, in the light of decisions discussed above and the facts of the case, we reverse the findings of the CIT(A) and delete penalty levied under section आअसं. 5986/मुं/2019 (िन.व.2009-10) 271(1)(…

DCIT, Cir-3(1)(1), Mumbai vs. M/S Bengal Shapoorji Housing Development Pvt. Ltd., Mumbai

In the result, appeal of the Revenue is dismissed

…not income from the property. In the backdrop of the conflict between the decisions of the aforesaid non- jurisdictional High Courts, as observed by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), the view which is in favour of the assessee has to be preferred as against that taken against him. Accordingly, following the judgment of the Hon‟ble Jurisdictional High Court in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), we respectfully follow the view taken by the Hon‟ble High Court of Guja…

Food Corporation of India Employees Co Op Credit Soc Ltd., Mumbai vs. ITO Ward 32 (1)(5), Mumbai

In the result, appeal of the assessee is partly allowed

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 4622/मुं/2019 ("न.व. 2014-15) आअसं. 4621/मुं/2019 ("न.व. 2015-16)

…ecision rendered in the case of Totagars, Co-operative Sale Society (supra). 12. No judgement by the Hon’ble Jurisdictional High Court on this issue was brought to our notice. The Hon'ble Bombay High Court in the case of K. Subramanian vs. Siemens India Ltd. 156 ITR 11 has held that when two conflicting decisions of non-jurisdictional High Courts are available, the view that favours the assessee is to be preferred. Accordingly, following the decision of Hon'ble Karnataka High Court in the case of Totagars Co-operative Sale Society (supra) and the decision in the case of Hon'ble Gujarat High Court in the case of…

Food Corporation Employees Co Op Credit Soc Ltd., Mumbai vs. ITO 32 (1)(5), Mumbai

In the result, appeal of the assessee is partly allowed

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 4622/मुं/2019 ("न.व. 2014-15) आअसं. 4621/मुं/2019 ("न.व. 2015-16)

…ecision rendered in the case of Totagars, Co-operative Sale Society (supra). 12. No judgement by the Hon’ble Jurisdictional High Court on this issue was brought to our notice. The Hon'ble Bombay High Court in the case of K. Subramanian vs. Siemens India Ltd. 156 ITR 11 has held that when two conflicting decisions of non-jurisdictional High Courts are available, the view that favours the assessee is to be preferred. Accordingly, following the decision of Hon'ble Karnataka High Court in the case of Totagars Co-operative Sale Society (supra) and the decision in the case of Hon'ble Gujarat High Court in the case of…

Siddhivinayak Co-Op. Ind. Premises Society Ltd., Mumbai vs. ITO 26(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 4575/मुं/2019 ("न.व. 2013-14) Siddhivinayak Co-Operative Industrial Premises Society Limited, Bldg. No.8, Jogani Indstrial Complex, Plot No.1, Survey No.2, Chunabhatti, Mumbai 400 022 Pan: Aaajs 2579J ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 26(3)(2), Aaykar Bhavan, M.K.Road, Churchgate, Mumbai 400 020 ..... ""तवाद"/Respondent

…ecision rendered in the case of Totagars, Co-operative Sale Society (supra). 10. No judgement by the Hon’ble Jurisdictional High Court on this issue was brought to our notice. The Hon'ble Bombay High Court in the case of K. Subramanian vs. Siemens India Ltd. 156 ITR 11 has held that when two conflicting decisions of non-jurisdictional High Courts are available, the view that favours the assessee is to be preferred. Accordingly, following the decision of Hon'ble Karnataka High Court in the case of Totagars Co-operative Sale Society (supra) and the decision in the case of Hon'ble Gujarat High Court in the case of…

ITO-21(1)(4), Mumbai vs. M/S Horizon Co-Op Housing Soc. Ltd, Mumbai

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

…come on investments made with the co-operative banks. It has been noted that there are conflicting decisions of non-jurisdictional High Courts. The decision of the Bombay High Court in case of K. Subramanian Vs. Siemens India Ltd. [1983] 15 Taxman 594/ [1985] 156 ITR 11 (Bom) was referred to by the Tribunal in the case of Kaliandas Udyog Bhavan Premises Co-operative Society Ltd.(supra), where it has been held that if there is a conflict between decisions of non- jurisdictional High Courts, then a view which is in favour of the assessee is to be preferred as against that taken against him. It has been also held in…

ITO-21(1)(3), Mumbai vs. M/S. Casa Grande Co-Op Hsg. Soc. Ltd., Mumbai

In the result, the appeal of Revenue is dismissed

…d u/s.80P(2)(d) of the Act along with other income. The ld. CIT(A) apart from placing reliance on various decisions also placed reliance on the decision of the Hon’ble Jurisdictional High Court in the case of K. Subramanian vs. Siemens India Ltd., reported in 156 ITR 11 accepted the assessee’s claim of deduction u/s.80P(2)(d) of the Act in respect of interest derived from investment with co-operative banks and 3 M/s. Casa Grande Co-op Housing Society Ltd., directed the ld. AO to allow deduction of Rs.1,86,42,143/- as claimed by the assessee u/s.80P(2)(d) of the Act. 4. Aggrieved, the Revenue is in appeal before…

Jyoti Harshad Mehta (Legal Heir of Late Harshad S. Mehta), Mumbai vs. Pr. CIT (C)- 2, Mumbai

In the result, appeal of the assessee is partly allowed

…been filed in the Supreme Court which is pending or that steps are being taken to file an appeal. 2.6 The High Court, at page 571, has made a reference to the decision of Hon'ble Bombay High Court in the case of Subramanian, ITO Vs. Siemens India Ltd (1985) (156 ITR 11) and the relevant observations are extracted below: ―Reference may also be invited to the decision of the Bombay High Court in Subramanian, ITO Vs. Siemens India Ltd (1985)(156 ITR 11). The question that arose for consideration in this case is whether the Income tax officer is bound by the decision of a single judge or a Division bench of the cour…

DCIT, Circle-3(1)(1), Mumbai vs. Bengal Shapoorji Housing Development Pvt Ltd., Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri M.Balaganesh () & Shri Ravish Sood () Dcit, Circle-3(1)(1), M/S Bengal Shapoorji Housing Room No. 628, 6Th Floor, Vs. Development Pvt. Ltd., Aayakar Bhavan, M.K.Road, S.P. Centre, 41-44, Mumbai – 400 020 Minoo Desai Marg, Mumbai - 400005 Pan No. Aaccm1595P (Revenue) (Assessee) Assessee By : Dr. K.Shivaram, Sr. Advocate Revenue By : Shri Tharian Oommen, D.R Date Of Hearing : 10/03/2021 Date Of Pronouncement : 23/03/2021

…not income from the property. In the backdrop of the conflict between the decisions of the aforesaid non- jurisdictional High Courts, as observed by the Hon’ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), the view which is in favour of the assessee has to be preferred as against that taken against him. Accordingly, following the judgment of the Hon‟ble Jurisdictional High Court in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), we respectfully follow the view taken by the Hon‟ble High Court of Guja…

Meherbad Co-Operative Housing Society Ltd., Mumbai vs. ACIT-19(2), Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Rajesh Kumar () & Shri Ravish Sood () Meherbad Co-Operative Acit-19(2) Housing Society Ltd, Vs. Matru Mandir, Tardeo, 1/594, Meherabad, Bhulabai Mumbai - 400007 Desai Road, Warden Road, Mumbai – 400026

…ITA No.2418/Mum/2019 A.Y. 2015-16 1 Meherbad Co-operative Housing Society Ltd. Vs.ACIT-19(2) IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC” MUMBAI BEFORE SHRI RAJESH KUMAR (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) Meherbad Co-operative ACIT-19(2) Housing Society Ltd, Vs. Matru Mandir, Tardeo, 1/594, Meherabad, Bhulabai Mumbai - 400007 Desai Road, Warden Road, Mumbai – 400026 PAN No. AAAAM1739M (Assessee) (Revenue) Assessee by : Shri Bhupendra Shah, A.R Revenue by : Ms. Smita Verma, D.R Date of Hearing : 03/03/2021 Date of pronouncement : 05/03/2021 ORDER PER RAVISH SOOD, J.M:…