DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Section 147 of the Act was disposed off \nas partly allowed. Assessee has also filed Cross Objection (C.O. \nNo.97/Mum/2024) in Revenue’s Appeal.\nITA No.2845/Mum/2024 [Revenue’s Appeal]\n67. The Revenue has raised three grounds of appeal in ITA No. \n2845/Mum/2024 which are taken up hereinafter in seriatim.\nGround No.1\n68. Ground No. 1 raised by the Revenue reads

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(2), MUMBAI

Section 37(1) of the Act would not\napply. In this context, we respectfully agree with the\nobservations made by the coordinate Bench in case of\nMilestone Real Estate Fund (Supra). Pertinently, in case of\nM/s Cholamandalam MS General Insurance Co. Ltd. [2025]\n174 taxmann.com 603 (Mad.), identical issue of\ndisallowance of payment made to motor vehicle dealers\nu/s.37

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(2)(2), MUMBAI

sections 30 to 43A and,\ntherefore, unless there was a specific\nprohibition for such an allowance, the\ndepartmental authorities would not be\njustified in. adding back the amount under\nrule 5(a), Therefore, even if the debit for\namortization is considered as an\nexpenditure, there is no specific prohibition\nagainst allowing such an expenditure\nunder the provisions of sections

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

147 \nof the Act was partly allowed. \n152. The Assessee has raised 4 grounds of appeal. We would first \ntake up Ground No. 2 to 4 raised by the Assessee dealing with \nthe merits of the disallowance/additions made by the Assessing \nOfficer \nGround No.2 to 4: \n153. Ground No.2 to 4 pertaining to disallowance made in respect of \npayments made

JAMNADAS VIRJI SHARES AND STOCK BROKERS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 4(3)(1), MUMBAI

TDS, although appearing in Form 26AS\nand granted credit for in the intimation under section 143(1).\n13. The AO erred in levying interest under section 234A of Rs.\n11,055/- and CIT(A) erred in confirming the same.\n14. The AO erred in levying interest under section 234B of Rs.\n96,480/- and under section 234D

ULTRA TECH CEMENT LIMITED,MUMBAI vs. ACIT- CC 1(4), MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

TDS credit pertaining to the erstwhile company is being given credit to the assessee company, there is no reason why a different treatment should be given to the MAT credit available pertaining to the erstwhile company. We do not agree with the learned Commissioner of Income Tax (Appeals) that there is need for specific mention in this regard in Section

M/S. ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CENT CIR-1(4) , MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

TDS credit pertaining to the erstwhile company is being given credit to the assessee company, there is no reason why a different treatment should be given to the MAT credit available pertaining to the erstwhile company. We do not agree with the learned Commissioner of Income Tax (Appeals) that there is need for specific mention in this regard in Section

JT. CIT (ODS) - CC -1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

TDS credit pertaining to the erstwhile company is being given credit to the assessee company, there is no reason why a different treatment should be given to the MAT credit available pertaining to the erstwhile company. We do not agree with the learned Commissioner of Income Tax (Appeals) that there is need for specific mention in this regard in Section

DCIT CIR 1(4) , MUMBAI vs. M/S. ULTRATECH CEMENT LTD, MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

TDS credit pertaining to the erstwhile company is being given credit to the assessee company, there is no reason why a different treatment should be given to the MAT credit available pertaining to the erstwhile company. We do not agree with the learned Commissioner of Income Tax (Appeals) that there is need for specific mention in this regard in Section

JAIN MACHINE TOOLS ,MUMBAI vs. INCOME TAX OFFICER, WARD 26(1)(7), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2012-13 Jain Machine Tools, Ito, Ward 26(1)(7), 16, Meghal Industrial Estate, Room 625, 6Th Floor, Kautilya Vs. Devidayal Road, Mulund (West) Bhavan, C-41 To C-43, G Block, Mumbai-400080. Bandra Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfj 6163 H Appellant Respondent

section 147 of the Act, an assessment completed u/s 143(3) of the Act could be reopened beyond the completed u/s 143(3) of the Act could be reopened beyond the completed u/s 143(3) of the Act could be reopened beyond the period of four years from the end of the relevant assessment year iod of four years from

JAMNADAS VIRJI SHARES AND STOCK BROKERS PRIVATE LIMITED ,MUMBAI vs. DCIT, 4(3)(1), MUMBAI

TDS, although appearing in Form 26AS\nand granted credit for in the intimation under section 143(1).\n13. The AO erred in levying interest under section 234A of Rs.\n11,055/- and CIT(A) erred in confirming the same.\n14. The AO erred in levying interest under section 234B of Rs.\n96,480/- and under section 234D

JAMNADAS VIRJI SHARES AND STOCK BROKERS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 4(3)(1), MUMBAI

TDS, although appearing in Form 26AS\nand granted credit for in the intimation under section 143(1).\n13. The AO erred in levying interest under section 234A of Rs.\n1,770/-/- and CIT(A) erred in confirming the same.\n14. The AO erred in levying interest under section 234B of Rs.\n26,928/- and under section 234C

JAMNADAS VIRJI SHARES AND STOCK BROKERS PVT LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 4(3)(1), MUMBAI

TDS, although appearing in Form 26AS\nand granted credit for in the intimation under section 143(1).\n13. The AO erred in levying interest under section 234A of Rs.\n11,055/- and CIT(A) erred in confirming the same.\n14. The AO erred in levying interest under section 234B of Rs.\n96,480/- and under section 234D

JET SPEED REALTORS ,MUMBAI vs. ACIT CIR 32 (1), MUMBAI

Bench: Shri Aby T Varkey () & Ms. Padmavathy S. ()

section 147 of the Act  The assessee is nowhere connected with the alleged JPV group on which survey was conducted.  Without even establishing the nexus of the assessee with the said alleged group, the Assessing Officer has without application of mind proceeded to reopen the concluded reassessment merely on the basis of reason to suspect as against reasons to believe

M/S. JET SPEED REALTORS ,MUMBAI vs. ACIT CIRCLE 32 (1), MUMBAI

Bench: Shri Aby T Varkey () & Ms. Padmavathy S. ()

section 147 of the Act  The assessee is nowhere connected with the alleged JPV group on which survey was conducted.  Without even establishing the nexus of the assessee with the said alleged group, the Assessing Officer has without application of mind proceeded to reopen the concluded reassessment merely on the basis of reason to suspect as against reasons to believe

JET SPEED REALTORS,MUMBAI vs. ACIT CIR 32(1), MUMBAI

Bench: Shri Aby T Varkey () & Ms. Padmavathy S. ()

section 147 of the Act  The assessee is nowhere connected with the alleged JPV group on which survey was conducted.  Without even establishing the nexus of the assessee with the said alleged group, the Assessing Officer has without application of mind proceeded to reopen the concluded reassessment merely on the basis of reason to suspect as against reasons to believe