ACIT-231, MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

Accordingly, Ground No. 6 raised by the Revenue is dismissed

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

TDS provisions on income credited or paid by VCF/VCC to investors shall be withdrawn. These amendments will take effect from 1st April, 2013, and will, accordingly, apply in relation to the assessment year 2013-14 and subsequent years. [Clauses 5, 54]” (Emphasis Supplied) 19. On perusal of the above, it become clear that as per the definition of Venture Capital

STATE BANK OF INDIA,MUM vs. ACIT-TDS-2(2), MUM

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA,MUM vs. ACIT-TDS-2(2),, MUM

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA,MUM vs. ACIT-TDS-2(2), MUM

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA HRMS DEPARTMENT ,MUMBAI vs. ASSTT. COMMISSIONER OF INCOME TAX (TDS)RANGE-2(2), MUMBAI

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA- NRI BRANCH,MUMBAI vs. ACIT-TDS-2(2), MUMBAI

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA,MUMBAI vs. ACIT-TDS-2(2), MUMBAI

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA-RBO II THANE WESTERN BRANCH,MUMBAI vs. ACIT-TDS-2(2), MUMBAI

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA,MUM vs. ACIT-TDS-2(2), MUM

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA HRMS DEPARTMENT,MUMBAI vs. ASSTT. COMMISSIONER OF INCOME TAX (TDS)RANGE-2(2), MUMBAI

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

STATE BANK OF INDIA-ISB BRANCH,MUMBAI vs. DCIT-TDS-2(2), MUMBAI

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3111& 3112/Mum/2022 Assessment Years: 2012-13& 2013-14 State Bank Of India Hrms Acit (Tds) Rg-2(2), Department, Peddar Road, Vs. 4Th Floor, Cidco Tower No. 7, Mumbai-400014. Belapur Railway Station Complex-400614. Tan No. Mums 63193 E Appellant Respondent Assessee By : Mr. Anand Desai & Mr. Sachin Lopes, Ar Revenue By : Mr. Paresh Deshpande, Dr

section 10(5) of the Act, when the employee’s designated place is in when the employee’s designated place is in India and he actually and he actually State Bank of India HRMS 10 State Bank of India HRMS ITA No. 3111/M/2022 & 12Other appeals ITA No. 3111/M/202 visits the designated places. visits the designated places. In view

ACIT, PIRAMAL CHAMBERS vs. MILESTONE REAL ESTATE FUND, MUMBAI

TDS provisions\non income credited or paid by VCF/VCC to\ninvestors shall be withdrawn.\nThese amendments will take effect from 1st April, 2013, and will,\naccordingly, apply in relation to the assessment year 2013-14\nand subsequent years.\n[Clauses 5, 54]” (Emphasis Supplied)\n19.\nOn perusal of the above, it become clear that as per the\ndefinition of Venture

SUBHASH E. DHARGAVE, MUMBAI vs. MILESTONE REAL ESTATE FUNDS, MUMBAI

In the result, the appeal of the Revenue is dismissed

TDS provisions on income credited\nor paid by VCF/VCC to investors shall be withdrawn.\nThese amendments will take effect from 1st April, 2013, and will,\naccordingly, apply in relation to the assessment year 2013-14 and\nsubsequent years.\n[Clauses 5, 54]” (Emphasis Supplied)\n19. On perusal of the above, it become clear that as per the definition of\nVenture

STATE BANK OF INDIA - CUFFE PARADE BRANCH,MUMBAI vs. ACIT-TDS-3(2),, MUMBAI

In the result, the appeal is allowed in the terms indicated above

25. It may be noted that even in cases where the employee travels outside India during the course of his travel to a place in India, the exemption under section 10(5) is restricted for travel within India. In other words, where the designated place in India is Kolkata and the travel itinerary is Mumbai-Kolkata-Singapore-Kolkata- Mumbai, exemption

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

In the result, appeals filed by the revenue for assessment years 2013-

25 of the said Regulation empowers the Board to inspect or Assessment Years: 2013-14 & 2014-15 investigate the books of account, records and documents of a Venture Capital Fund through an Inspecting or Investigating Officer and on the basis of such report, the Board can take such measures against the Venture Capital Fund as per section

OBEROI FOUNDATION,MUMBAI vs. CIT (E), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleoberoi Foundation V. Cit (Exemptions) Commerz, 3Rd Floor 6Th Floor, Piramal Chambers International Business Park Lalbaug, Mumbai – 400 012 Oberoi Garden City, Off. W.E. Highway Goregaon (E), Mumbai - 400063 Pan: Aaato1684L (Appellant) (Respondent) Assessee Represented By : Shri Vijay Mehta Department Represented By : Shri K.C. Salvamani

TDS compliance. The real issue raised by the assessee in this appeal is whether the provisions of section 11 is applicable and in the subsequent proceedings, the Assessing Officer has verified the allowability of the rent and he has not properly verified the same. In our view, the venturing in the subsequent proceedings are beyond the scope of the grounds

DCIT CEN CIR 15 & 16, MUMBAI vs. VIJAY GRIHNIRMAN P. LTD, MUMBAI

In the result, Revenue’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

section 80IB(10) of the Act holding as under: - “7.1 The appellant had claimed deduction under s. 80IB(10) of Rs.5,47,28,624/-. 7.2 For the captioned year, the appellant had claimed deduction under s. 80IB(10) as under: Project Date of Date of Size of plot Deduction u/s commencement Completion (Approx.) 80IB V Nagari Annex

DCIT CEN CIR 15 & 16, MUMBAI vs. VIJAY GRIHNIRMAN P.LTD, MUMBAI

In the result, Revenue’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

section 80IB(10) of the Act holding as under: - “7.1 The appellant had claimed deduction under s. 80IB(10) of Rs.5,47,28,624/-. 7.2 For the captioned year, the appellant had claimed deduction under s. 80IB(10) as under: Project Date of Date of Size of plot Deduction u/s commencement Completion (Approx.) 80IB V Nagari Annex