MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

TDS)-2(3), Mumbai on 10th February, 2011. During the course of the survey it was found that assessee received lease premium against the property from different parties. In this regard assessee was asked to furnish details of lease premium. In response, Ld. AR of the assessee submitted as under: - “The Authority has auctioned land in Bandra Kurla Complex

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

TDS)-2(3), Mumbai on 10th February, 2011. During the course of the survey it was found that assessee received lease premium against the property from different parties. In this regard assessee was asked to furnish details of lease premium. In response, Ld. AR of the assessee submitted as under: - “The Authority has auctioned land in Bandra Kurla Complex

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

TDS)-2(3), Mumbai on 10th February, 2011. During the course of the survey it was found that assessee received lease premium against the property from different parties. In this regard assessee was asked to furnish details of lease premium. In response, Ld. AR of the assessee submitted as under: - “The Authority has auctioned land in Bandra Kurla Complex

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

TDS)-2(3), Mumbai on 10th February, 2011. During the course of the survey it was found that assessee received lease premium against the property from different parties. In this regard assessee was asked to furnish details of lease premium. In response, Ld. AR of the assessee submitted as under: - “The Authority has auctioned land in Bandra Kurla Complex

PAHILAJRAI JAIKISHAN,MUMBAI vs. DCIT 19(3), MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

38 of the Act limiting the deduction as per Section 40 of the Act . Thus, decision in R M Chidambaram Pillai in 106 ITR 292 cannot be applied under the new changed law post Finance Act,1992 whereby the partnership firm is taxed as a separate entity. c &d) Nectar Beverages Private Limited v. DCIT

ASST CIT 19(3), MUMBAI vs. PAHILAJRAI JAIKISHIN, MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

38 of the Act limiting the deduction as per Section 40 of the Act . Thus, decision in R M Chidambaram Pillai in 106 ITR 292 cannot be applied under the new changed law post Finance Act,1992 whereby the partnership firm is taxed as a separate entity. c &d) Nectar Beverages Private Limited v. DCIT

TATA AIG GENERAL INSURANCE CO. LTD.,MUMBAI vs. DY CIT - 8(3)(1), MUMBAI

In the result, appeal of the assessee is allowed for statistical purposes

38(XXXIII-7) [F.No.51(5)-IT/54]. The operative portion of the circular reads as follows:- ―Liability to tax or freedom therefrom of the foreign reinsurer will depend on various factors, such as the existence of reciprocity between the Indian insurer and the foreign reinsurer, the magnitude of local retention as compared with the reinsurance premium paid by the Indian

ACIT 4(2), MUMBAI vs. NETWORTH STOCK BROKING LTD, MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities Ltd. (supra) and taking a consistent view this issue is also allowed. 24. The next issue in Revenue’s appeal

NETWORTH STOCK BROKING LTD,MUMBAI vs. ACIT CIR 4(2), MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities Ltd. (supra) and taking a consistent view this issue is also allowed. 24. The next issue in Revenue’s appeal

ACIT 4(2), MUMBAI vs. NETWORTH STOCK BROKING LTD, MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities Ltd. (supra) and taking a consistent view this issue is also allowed. 24. The next issue in Revenue’s appeal

NETWORTH STOCK BROKING LTD,MUMBAI vs. ACIT CIR 4(2), MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities Ltd. (supra) and taking a consistent view this issue is also allowed. 24. The next issue in Revenue’s appeal

THE INDIAN MERCHANTS CHAMBERS,,MUMBAI vs. DDIT (E) -II(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri R.C.Sharma, Am & Shri Mahavir Singh, Jm आयकर अपील सं./Ita No.4076/Mum/2013 ("नधा"रण वष" / Assessment Year :2009-2010) The Indian Merchants Chambers, Vs. Ddit(Exemption)-Ii(1), Imc Building, Imc Marg, Piramal Chambers, Mumbai-400020 Parel, Mumbai "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaati 00047 H .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri Arvind Sonde राज"व क" ओर से /Revenue By : Shri V.S.Jadhav सुनवाई क" तार"ख / Date Of Hearing : 31/03/2016 घोषणा क" तार"ख/Date Of Pronouncement 29/ 06/2016 आदेश / O R D E R Per R.C.Sharma (A.M): This Is An Appeal Filed By The Assessee Against The Order Of Cit(A)- Mumbai, For The Assessment Year 2009-2010. 2. In This Appeal, The Assessee Is Basically Aggrieved For Decline Of Exemption U/S.11 On The Plea That Proviso To Section 2(15) Was Applicable To The Assessee Which Was Introduced W.E.F. Assessment Year 2009-2010. 3. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That The Assessee Is Registered As A Company U/S.25 Of The Companies Act, 1956. The Main Objects Of The Assessee Trust Inter Alia Are To Promote, Advance & Protect Trade, Commerce & Industry In India. The Ao Held That The Assessee Was Not Imparting Education In Pursuance Of Its Objects. He Held That The Activity Of Organizing Seminars, The Definition Of Education. The Assessee Was Running Certain Seminars

TDS disallowance of Rs.2,50,874/-“. 32. We have already discussed the facts above in ITA No1491/Kol/2012 for AY 2008-09, which are unchanged in this appeal also i.e. for AY 2009-10 but in view of amendment in Section 2(15) of the Act vide Finance Act 2008, w.e.f. 01/04/2009, whereby new proviso was inserted and according to lower

INCOME TAX OFFICER 8(3)(3), MUMBAI vs. M/S.VIBGYOR TEXOTECH PRIVATE LIMITED, MUMBAI

In the result, the appeal of the assessee is partly allowed, whereas appeal of the Revenue is allowed

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

38 M/s Vibgyor Texotech Pvt. Ltd. was issued by the Assessing Officer before completion of the assessment. On the contrary the Ld. DR filed copy of the notice under section 143(2) of the Act dated 10/03/2015 issued by the ITO Ward 8(3)(3) and notice dated 11/01/2016 issued by the ACIT - 8(3)(2

M/S.VIBGYOR TEXOTECH PRIVATE LIMITED,MUMBAI vs. ACIT-8(3)(2), MUMBAI

In the result, the appeal of the assessee is partly allowed, whereas appeal of the Revenue is allowed

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

38 M/s Vibgyor Texotech Pvt. Ltd. was issued by the Assessing Officer before completion of the assessment. On the contrary the Ld. DR filed copy of the notice under section 143(2) of the Act dated 10/03/2015 issued by the ITO Ward 8(3)(3) and notice dated 11/01/2016 issued by the ACIT - 8(3)(2

ADITYA BIRLA FINANCE LTD,MUMBAI vs. ADDL CIT RG 2(1), MUMBAI

Appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Joginder Singh & Shri Rajendraassessment Year-2008-09 M/S Aditya Birla Finance Acit-2(1), Limited (One Indiabulls R. No.575, 5Th Floor, बनाम/ Center, Tower-1, 18Th Floor, Aayakar Bhavan, Vs. Jupiter Mill Compound, 841, M.K. Road, Senapati Bapat Marg, Mumbai-400020 Elphinstone Road, Mumbai-400012 Pan No.Aabcb5769M ("नधा"रती /Assessee) (राज"व /Revenue) Assessment Year-2008-09 Acit-2(1), M/S Aditya Birla Finance R. No.575, 5Th Floor, Limited (One Indiabulls बनाम/ Aayakar Bhavan, Center, Tower-1, 18Th Floor, Vs. M.K. Road, Jupiter Mill Compound, 841, Mumbai-400020 Senapati Bapat Marg, Elphinstone Road, Mumbai-400012 Pan No. Aabcb5769M (राज"व /Revenue) ("नधा"रती /Assessee) M/S Aditya Birla Finance Ltd.

section upon Assessing Officer to deem or assume certain expenditure to have been incurred in relation to tax free income. The proximity cause of disallowance u/s 14A is its relationship with the tax exempt income. Wherever the expenses incurred has no relationship with the income not includible in the total income, there cannot be any occasion to invoke M/s Aditya

CHEMOX EXPORTS IMPORTS PVT LTD,MUMBAI vs. INCOME TAX DEPARTMENT, ASSESSMENT UNIT, DELHI

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Raj Kumar Chauhan, Hon'Bleι.Τ.Α. No. 3954/Mum/2024

TDS) [2023] 153 taxmann.com 496/294 Taxmann 766/457 ITR 18 (Bom.) wherein this Court has held that the guidelines which are contrary to the provisions of the Act cannot be relied upon by the Revenue to reject an application for compounding filed by an assessee. The Court held that guidelines are subordinate to the principal Act or Rules, it cannot restrict

SCHWAB EMERGING MARKETS EQUITY ETF ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION -4(2)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

38,028\n14. erred in levying interest under Section 234B of the Act amounting to Rs.\n49,638,028;\nLevy of interest under section 234C of the Act - Rs.3,57,020\n15. erred in levying interest under Section 234C of the Act amounting to Rs.\n357,020;\nInitiation of penal proceedings under section 270A of the Act\n16. Erred

ISHARES MSCI EMERGING MARKETS ETF (AS A SUCCESSOR TO ISHARES EMERGING MARKETS INDEX MAURITIUS CO ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

38,028\n14. erred in levying interest under Section 234B of the Act amounting to Rs.\n49,638,028;\nLevy of interest under section 234C of the Act - Rs.3,57,020\n15. erred in levying interest under Section 234C of the Act amounting to Rs.\n357,020;\nInitiation of penal proceedings under section 270A of the Act\n16. Erred

BOMBAY CHAMBER OF COMMERCE AND INDUSTRY,MUMBAI vs. ITO (E) 1(1), MUMBAI

In the result, the appeals of the assessee for A

Bench: Shri M. Balaganesh, Am & Shri Pavan Kumar Gadale, Jm

TDS returns, service tax and other related work. This activity is in pursuance of Object no. 21 of the appellant; namely "to do all such other things as may be necessary for or incidental or conducive to the extension of trade, commerce or manufacture, or the attainment of objects. c. Labour advisory Fees —Rs. 21,91,605/- The appellant