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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

10(5) there was no default under section 201 with respect to there was no default under section 201 with respect to there was no default under section 201 with respect to application of TDS

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

section 10(5) of the Act as under- 10. In computing the total income of a previous year of any person, any income failing within any of the following clauses shall not be included- ITA No. 145 & 146/JP/17 and S.A. No.04 & 05/JP/2017 State Bank of India, Jaipur Vs. ACIT, TDS

MILESTONE REAL ESTATE FUND,MUMBAI vs. PR.CIT-25, MUMBAI, MUMBAI

In the result, assessee’s appeal is allowed

Bench: Shri Saktijit Dey & Shri N.K Pradhanmilestone Real Estate Fund 402–A, Hallmark Business Plaza Sant Dhyaneshwar Marg ……………. Appellant Bandra, Mumbai 400 051 Pan – Aaati5880L V/S Asstt. Commissioner Of Income Tax ……………. Respondent Circle–25(3), Mumbai Assessee By : Shri J.D. Mistry, Sr. Counsel A/W Shri Madhur Agarwal Revenue By : Shri Anand Mohan

5) Any other activity which may be specified by the Board in consultation with Government of India from time to time.‖ 21. Keeping in perspective the aforesaid statutory provisions let us examine the facts of the present appeal. Undisputedly, the assessee in the revised return of income filed for the impugned assessment year has claimed deduction under section 10(23FB

ACIT 23-1, 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)

5 12. We note that Section 10(23FB) was introduced by the Finance Act, 2000 with effect from 01/04/2001. As originally enacted, Section 10(23FB) of the Act provided exemption in respect of „any income‟ of Venture Capital Fund set-up to raise funds for investment in „Venture Capital Undertaking‟ being a domestic company whose shares are not listed

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)

5 12. We note that Section 10(23FB) was introduced by the Finance Act, 2000 with effect from 01/04/2001. As originally enacted, Section 10(23FB) of the Act provided exemption in respect of „any income‟ of Venture Capital Fund set-up to raise funds for investment in „Venture Capital Undertaking‟ being a domestic company whose shares are not listed

ITO(E)-1(1), MUMBAI, MUMBAI vs. BHAVITHA FOUNDATION, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2021-22

5) of the Act and the appellant e Act and the appellant complied with the provisions of section 13(1)(d) of the Act with respect to complied with the provisions of section 13(1)(d) of the Act with respect to complied with the provisions of section 13(1)(d) of the Act with respect to acceptance, holding

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

5\n12.\nWe note that Section 10(23FB) was introduced by the Finance\nAct, 2000 with effect from 01/04/2001. As originally enacted,\nSection 10(23FB) of the Act provided exemption in respect of\n'any income' of Venture Capital Fund set-up to raise funds for\ninvestment in 'Venture Capital Undertaking' being a domestic\ncompany whose shares are not listed

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

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

In the result, the appeal of the Revenue is dismissed

10(23FB) and section 115U to provide that:\n(i) The venture Capital undertaking shall have same meaning as provided\nin relevant SEBI regulations and there would be no sectoral restriction.\n(ii) Income accruing to VCF/VCC shall be taxable in the hands of investor\non accrual basis with no deferral.\n(iii) The exemption from applicability of TDS provisions

STATE BANK OF INDIA - CORPORATE CENTRE,MUMBAI vs. DCIT (TDS)-2(2), MUMBAI

In the result, appeals are allowed as indicated above

Bench: Shri Saktijit Dey & Shri M. Balaganeshassessment Year: 2010-11 & Assessment Year: 2011-12 State Bank Of India Deputy Commissioner Of Corporate Centre, Income Tax (Tds)-2(2), 2Nd Floor, Office Administration K.G. Mittal Ayurvedic Hospital Department, State Bank Bhawan, Vs. Bldg, Charni Road (W), Madam Cama Road, Mumbai - 400002 Nariman Point, Mumbai - 400021 Pan: Aaacs8577K (Appellant) (Respondent) Assessee By : Shri Nitesh Joshi (Ar) Revenue By : Shri T.S. Khalsa (Dr) Date Of Hearing : 30/09/2021 Date Of Pronouncement: 12/10/2021

TDS is not deducted on LFC paid by referring to original statement and not correction statements. 1.5. The learned CIT(A) erred in making the followingobservations/ holding as under: “All the operational sections as per legal provisions will be applied de novo on this correction statement. Hence, for all purposes, the correction statement filed is as good as and equivalent

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-

10(23FB) of the Act. The assessee further contended that as per the provisions of section 115U of the Act. The assessee furnished the details of income accrued or distributed to each of the contributors and provided the details as per Form 64 to each contributor and complied with the requirements, the assessee is eligible for the TDS credit