Tivoli Investment& Trading Co. Pvt. Ltd. v. ACIT

90 ITD 163Income Tax Appellate Tribunal#21696 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 to 2025.

Sections most often in play

Section 143(3)Section 22Section 23Section 23(1)(a)Section 23(4)

Issues it is cited on

section 23(1)(a)section 23(1)annual valuesection 23documentinterest

Judgments citing Tivoli Investment& Trading Co. Pvt. Ltd. v. ACIT

RAVI K SHETH ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX -5(3)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 1907/MUM/2025[2017-18]Status: DisposedITAT Mumbai16 Sept 2025AY 2017-18

Bench: Shri Sandeep Gosain & Shri Girish Agrawalassessment Year: 2017-18 Ravi K Sheth Deputy Commissioner Of M/S. Kalyaniwalla & Mistry Llp , Income Tax -5(3)(1), Esplanade House, 2Nd Floor, Mumbai Vs. 29, Hazarimal Somani Marg, Fort, Mumbai - 400001 (Pan : Aaips7341E) (Assessee) (Respondent)

For Appellant: Shri M.M. Golvala, AdvocateFor Respondent: Shri Annavaram Kosuri, Sr. DR
Section 143(3)Section 23(1)(a)Section 23(4)

…/- when comparing with the rental receipts from similar flats located in the same building. Assessing Officer also relied on the decision of the Mumbai bench of the Tribunal in the 8 Ravi K Sheth AY 2017-18 case of Tivoli Investment & Trading Co. Pvt. Ltd., [90 ITD 163] in arriving at Annual Rateable Value as per market value.” 5.1. After considering the factual position and submissions of both the parties, the Coordinate Bench concluded by relying on the decision of Hon’ble Jurisdictional High Court in the case of PCIT vs. Laxmi Jain in ITA No. 1285/2015, order dated 16.04.2018, wherein it was held that as the…

ADDL CIT RG 3(1), MUMBAI vs. ICICI BANK LTD (IN RESPECT OF M.S, ICICI LTD MERGED WITH M.S, ICICI BANK LTD), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 8435/MUM/2010[2003-04]Status: DisposedITAT Mumbai21 Jul 2023AY 2003-04

Bench: Shri Vikas Awasthy& Shri Amarjit Singhआअसं.8435 /मुं/2010("न.व. 2003-04) The Dy.Commissioner Of Income-Tax ,Cir. 3(1), Room No.607, 6Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ...... अपीलाथ"/Appellant बनाम Vs. Icici Bank Limited, Icici Bank Towers, Bandra-Kurla-Complex, Bandra(East), Mumbai 400 051. Pan: Aaaci-1195-H .....""तवाद"/Respondent

For Appellant: Ms. Aarti Visanji, AdvocateFor Respondent: Shri P.C. Chhotaray, Spl. Counsel
Section 10Section 10(15)Section 23Section 36Section 36(1)(vii)Section 80M

…t has been considered by the Assessing Officer for arriving at the annual value under section 23(1)(a) of the Act. The Assessing Officer has made the addition by following the order of Tribunal in the case of Tivoli Investment& Trading Co. Pvt. Ltd. vs. ACIT, 90 ITD 163 (Mum). The ld.Counsel for the assessee supporting the order of CIT(A) stated that only the actual rent received or receivable has to be taken into consideration and not the notional value. The CIT(A) has deleted the addition by following earlier 22 ITA NO.8435/MUM/2010(A.Y.2003-04) orders. The ld.Counsel for the assessee further placed relianc…

ICICI BANK LTD,MUMBAI vs. ADDL CIT RG 3(1), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 8420/MUM/2010[2003-04]Status: DisposedITAT Mumbai21 Jul 2023AY 2003-04

Bench: Shri Vikas Awasthy& Shri Amarjit Singhआअसं.8435 /मुं/2010("न.व. 2003-04) The Dy.Commissioner Of Income-Tax ,Cir. 3(1), Room No.607, 6Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ...... अपीलाथ"/Appellant बनाम Vs. Icici Bank Limited, Icici Bank Towers, Bandra-Kurla-Complex, Bandra(East), Mumbai 400 051. Pan: Aaaci-1195-H .....""तवाद"/Respondent

For Appellant: Ms. Aarti Visanji, AdvocateFor Respondent: Shri P.C. Chhotaray, Spl. Counsel
Section 10Section 10(15)Section 23Section 36Section 36(1)(vii)Section 80M

…t has been considered by the Assessing Officer for arriving at the annual value under section 23(1)(a) of the Act. The Assessing Officer has made the addition by following the order of Tribunal in the case of Tivoli Investment& Trading Co. Pvt. Ltd. vs. ACIT, 90 ITD 163 (Mum). The ld.Counsel for the assessee supporting the order of CIT(A) stated that only the actual rent received or receivable has to be taken into consideration and not the notional value. The CIT(A) has deleted the addition by following earlier 22 ITA NO.8435/MUM/2010(A.Y.2003-04) orders. The ld.Counsel for the assessee further placed relianc…

RAVI K SHETH,MUMBAI vs. DCIT 5(3), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 4939/MUM/2017[2011-12]Status: DisposedITAT Mumbai07 Jun 2021AY 2011-12

Bench: Shri C.N. Prasad, Hon'Bleshri S. Rifaur Rahman, Hon'Bleshri Ravi K. Sheth V. Dcit – 5(3) C/O Kalyaniwalla & Mistry Llp Room No. 573 2Nd Floor, Esplande House Aayakar Bhavan, M.K. Road 29, Hazarimal Somani Marg Mumbai – 400020 Fort, Mumbai – 400001 Pan: Aaips7341E (Appellant) (Respondent) Assessee By : Shri Percy Paridiwala Department By : Shri Bharat Andhle

For Appellant: Shri Percy ParidiwalaFor Respondent: Shri Bharat Andhle
Section 143(1)Section 143(3)Section 23(1)(a)Section 23(1)(c)Section 23(2)Section 23(4)(b)Section 234BSection 3

…year to year is ₹.2,52,000/- when comparing with the rental receipts from similar flats located in the same building. Assessing Officer also relied on the decision of the Mumbai bench of the Tribunal in the case of Tivoli Investment & Trading Co. Pvt. Ltd., [90 ITD 163] in arriving at Annual Rateable Value as per market value. 6. In the course of assessment, assessee submitted that he has adopted the municipal valuation for Flat No. 12B in building “Manek” at ₹.6,031/- based on the certificate issued by “The Great Eastern Co- operative Housing Society Ltd.,” as the property was not let out but used as self-occu…

Tivoli Investment& Trading Co. Pvt. Ltd. v. ACIT (90 ITD 163) — Cited in 4 Judgments | BharatTax