“revised return”

Sunbeam Monochem P. Ltd., Mumbai vs. ACIT, Circle 8(2)(2), Mumbai

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita No. 524 & 525/Mum/2023 Assessment Year: 2015-16 & 2017-18 Sunbeam Monochem (P) Ltd., Acit, Circle-8(2)(2), 201/B Runwal & Omkar E- Aayakar Bhavan, Vs. Square, Opp. Sion Chunabhatti Mumbai-400020. Singnal, Eastern Express Highway, Sion (E) Mumbai-400 002. Pan No. Aabcs 8172 P Appellant Respondent Assessee By : Mr. Mayur Makadia, Ar Revenue By : Mr. Paresh Deshpande, Dr : Date Of Hearing 24/04/2023 : Date Of Pronouncement 27/04/2023 Order

Rs.3,71,661/ amount of suo motu disallowance of Rs.3,71,661/- may be allowed, may be allowed, which was added in the revised return of income and not been added in the revised return of income and not been added in the revised return of income and not been ... already included by the assessee in already included by the assessee in Sunbeam Monochem (P) Ltd. Sunbeam Monochem (P) Ltd. ITA No. the revised return filed for the purpose of the computation of the the revised return filed for the purpose of the computation of the the revised return filed

Suman Gupta, Mumbai vs. DCIT - CC- 4(2), Mumbai

In the result, appeal of the assessee for assessment year 2015

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3860 & 3859/Mum/2018 Assessment Years: 2014-15 & 2015-16 Smt. Suman Gupta, Dy. Cit Cc-4(2), 6Th New Harileela House, Air India Building, 19Th Mint Road, Fort, Vs. Floor, Room No. 1918, Mumbai-400 001. Nariman Point, Mumbai-21. Pan No. Ahqpg 0220 P Appellant Respondent Assessee By : Mr. Bhupendra Karkhanis & Mr. Aakash Marthak & Mr. Vijay Bhatt, Ars Revenue By : Dr. Kishor Dhule, Cit-Dr Date Of Hearing : 02/03/2023 : Date Of Pronouncement 27/04/2023 Order

revised a fresh claim of the assessee otherwise then by way of revised a fresh claim of the assessee otherwise then by way of revised return of income if the relevant fact for deciding such issue are return of income if the relevant fact for deciding such issue are return

Tata Aia Life Insuracne Company Ltd, Mumbai vs. Asst CIT 2(3), Mumbai

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhtata Aia Life Insurance Vs. The Assistant Company Limited Commissioner Of Income 14Th Floor, Tower A, Tax-2(3), 5Th Floor, Peninsula Business Park, Room No. 552, Aaykar Senapati Bapat Marg, Bhavan, M.K. Road, Lower Parel Mumbai – 400 020 Mumbai -400 013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabct3784C Appellant .. Respondent Dcit-2(3)(1) Vs. M/S Tata Aia Life R. No. 552, 5Th Floor, Insurance Co. Limited Aayakar Bhavan, ( Ea R L I E R K N O W N A S Ta T A A I G L I F E In S U R A N C E C O . L T D . ) Peninsula Business Park, M.K. Road, Senapati Bapat Marg, Mumbai – 400 020 Lower Parel, Mumbai - 400013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabct3784C Appellant .. Respondent Appellant By : Percy Pardiwala & Jasmin Amalsadvala Respondent By : Biswanath Das Date Of Hearing 10.04.2023 Date Of Pronouncement 27.04.2023

which the income was first assessable, or (b) (b) One year from the end of the financial year in which a return or a revised return relating to the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year, is filed under sub-section

DCIT 2(3)(1), Mumbai vs. Tata Aia Life Insurance Co. Ltd, Mumbai

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhtata Aia Life Insurance Vs. The Assistant Company Limited Commissioner Of Income 14Th Floor, Tower A, Tax-2(3), 5Th Floor, Peninsula Business Park, Room No. 552, Aaykar Senapati Bapat Marg, Bhavan, M.K. Road, Lower Parel Mumbai – 400 020 Mumbai -400 013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabct3784C Appellant .. Respondent Dcit-2(3)(1) Vs. M/S Tata Aia Life R. No. 552, 5Th Floor, Insurance Co. Limited Aayakar Bhavan, ( Ea R L I E R K N O W N A S Ta T A A I G L I F E In S U R A N C E C O . L T D . ) Peninsula Business Park, M.K. Road, Senapati Bapat Marg, Mumbai – 400 020 Lower Parel, Mumbai - 400013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabct3784C Appellant .. Respondent Appellant By : Percy Pardiwala & Jasmin Amalsadvala Respondent By : Biswanath Das Date Of Hearing 10.04.2023 Date Of Pronouncement 27.04.2023

which the income was first assessable, or (b) (b) One year from the end of the financial year in which a return or a revised return relating to the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year, is filed under sub-section

M/S. Icici Bank Ltd ( Erstwhile Icici Ltd), Mumbai vs. The Dy CIT RG 3(1), Mumbai

In the result, both the appeals are partly allowed

Assessee filed original return of income on 31/10/2001 declaring total income of INR 314,57,08,980/-. The Assessee filed a revised return of income on 28/03/2003 declaring loss of INR 91,11,71,830/- after claiming, inter alia, higher depreciation and deduction on account of bad debts under ... normal provisions of the Act. In the revised return the total income of the Assessee under Section 115JA of the Act was computed at INR 95,72,42,478/-. 3. The case of the Assessee was selected for scrutiny and notices under Section

Deputy Commissioner of Income Tax-5(2)(1), Mumbai vs. M/S M.Pallonji Shipping Pvt Ltd, Mumbai

Accordingly uphold the decision of the CIT(A) on this issue. The cross objections filed by the assessee in this regard is dismissed

Bench: Amit Shukla () & Ms. Padmavathy S. ()

advance to the AE but the same is not accepted for the reason that the claim has not been made by way of filing revised return of income. The Assessing Officer, while passing the assessment order, besides the TP adjustments also made an addition in respect of foreign exchange gain ... loan to the AE was not allowed for the reason that the said claim is not made by the assessee by filing a revised return. 13. Before the Ld.CIT(A), the assessee submitted that the loans should be benchmarked on the basis of LIBOR (+) 2% as against 5.81% applied