ITO (IT) 3(2)(1), MUMBAI vs. NITA NARENDRA MULANI, MUMBAI

In the result the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh & Shri N.K. Pradhanito (It)-3(2)(1), Smt. Nita Narendra Mulani R. No. 104, Scindia House, C/O Hajeetsingh Bubber, Ballard Pier, Vs. Cci Project Pvt. Ltd. 6, Mumbai-38. Shoorji Vallabhdas Marg, Laxmi Building, Ballard Estate, Mumbai-400001. Pan: Atqpm0689Q Appellant Respondent Appellant By : Shri N.S. Jangpangi (Cit-Dr) Respondent By : Shri Hitesh Trivedi (Ar) Date Of Hearing : 16.07.2018 Date Of Pronouncement : 25.07.2018 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh;

104, Scindia House, C/o Hajeetsingh Bubber, Ballard Pier, Vs. CCI Project Pvt. Ltd. 6, Mumbai-38. Shoorji Vallabhdas Marg, Laxmi Building, Ballard Estate, Mumbai-400001. PAN: ATQPM0689Q Appellant Respondent Appellant by : Shri N.S. Jangpangi (CIT-DR) Respondent by : Shri Hitesh Trivedi (AR) Date of Hearing : 16.07.2018 Date of Pronouncement : 25.07.2018 ORDER UNDER SECTION 254(1)OF INCOME

VISHAL DUTT,NAVI MUMBAI vs. ITO WD 22(3)(4), NAVI MUMBAI

In the result, the appeal filed by the assessee in ITA N0

Bench: Shri Sanjay Garg & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 878/Mum/2014 ("नधा"रण वष" / Assessment Year : 2008-09) Vishal Dutt, बनाम/ Income Tax Officer, Ward 205, B-Wing, Big Splash, – 22(3)(4), V. Sector – 17,Vashi, 3 Rd Floor, Tower No. 6, Navi Mumbai – 400703. Vashi Railway Station, Navi Mumbai – 400 703. "थायी लेखा सं./Pan : Aagpd 1553 M (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

capital gains of Rs.18,61,041/- was brought to tax vide assessment orders dated 27.12.2010 passed by the AO u/s 143(3) of the Act. 4.Aggrieved by the orders of A.O. dated 27.12.2010 passed u/s 143(3) of the Act, the assessee preferred an appeal before the CIT(A). 5. The assessee reiterated the submissions before

DHANANJAY MADHUKAR NAIK,MUMBAI vs. ITO 12(3)(3), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bledhananjay Madhukar Naik V. Ito 12(3)(3) 306, Meghdoot Chsl, Sahaji Raje Marg Room No. 1631, 16Th Floor Koldongri, Vile Parle (W) Air India Building, Nariman Point Mumbai- 400057 Mumbai- 400021 Pan: Alrpn7498M (Appellant) (Respondent) Assessee Represented By : Shri Anil Masand Department Represented By : Shri P.D. Chougule

104 out of which an amount of Rs 5,67,06,684 was paid at the time of booking and the balance Rs.6,66,42,240 was deposited in the capital gain savings scheme account. The amount deposited in the capital gains savings scheme account was to be paid to the builder on demand. 2. Subsequently an amount totaling

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE 6(1)(1), MAHARASHTRA

capital gains. Therefore, this ground is allowed for statistical purposes. Ground No. II - Short grant of TDS credit amounting to Rs. 15,76,346/- 101. The assessee has challenged the short grant of TDS credit of Rs. 15,76,346/-. It was submitted that the assessee had offered the corresponding income to tax in the return of income

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX- CIRCLE 6(1)(1), MAHARASHTRA

Bench: Shri Amit Shukla & Shri Makarand Vasant Mahadeokar1. Ita No. 6663/Mum/2025 (Assessment Year: 2017-18) 2. Ita No. 6701/Mum/2025 (Assessment Year: 2018-19) 3. Ita No. 6702/Mum/2025 (Assessment Year: 2022-23) & 4. Ita No. 6703/Mum/2025 (Assessment Year: 2023-24) Aditya Birla Sun Life Dcitcircle-6(1)(1), Amc Limited, Room No. 502, 5Th 17Th Floor, One World Vs. Floor, Aayakar Centre Tower-1, Jupiter Bhavan, M. K. Mill Compount, 841, Road, Churchgate, Senapati Bapat Marg, Mumbai-400 020 Delisle Road, S.O. Mumbai-400 013 Pan/Gir No. Aaacb6134D (Applicant) (Respondent) Assessee By Shri Ronak Doshi, Shri Shrey Agrawal & Shri Aadish Jain, Ld. Ars Revenue By Shri Surendra Mohan, Ld. Dr Date Of Hearing 27.01.2026 Date Of Pronouncement 06.02.2026

capital gains. Therefore, this ground is allowed for statistical purposes. Ground No. II - Short grant of TDS credit amounting to Rs. 15,76,346/- 101. The assessee has challenged the short grant of TDS credit of Rs. 15,76,346/-. It was submitted that the assessee had offered the corresponding income to tax in the return of income

VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUNDQ,MUMBAI vs. ASSISATANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-4(3)(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Ms. Kavitha Rajagopal, Hon’Ble

104 without appreciating that there was no delay in filing the return of income and payment of taxes by the Appellant. Ground of Appeal No. 7: Initiating penalty proceedings under section 270A of the Act. 12. The learned ACIT erred in initiating penalty under section 274 read with section 270A of the Act, alleging under reporting of income

NITESH RAJHANS SINGH,MUMBAI vs. THE INCOME TAX OFFICER -26(2)(3), MUMBAI

In the result, the appeal filed by the assessee is allowed

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy S

104) It was held before the Bombay High Court in the case of CIT v. Shyam R Pawar (2015) 54 taxmann 108 (BOM), it was held that where demat account and contract note showed the details of share transactions and assessing officer had not proved said transactions as bogus, capital gain earned on said transaction could not be treated

GOLDMAN SACHS (INDIA) SECURITIES P.LTD,MUMBAI vs. ITO (IT) TDS 3, MUMBAI

capital gains would not be taxable in the hands of GS-M.If the assessee was not liable to deduct taxes as per the provisions of section 195 of the Act, it cannot be held A-I- D.For invoking the provisions of section 201 of the Act,non deduction of taxes at source is a pre- condition.We also find force

KORN FERRY INTERNATIONAL P.LTD,MUMBAI vs. DCIT 3(2), MUMBAI

Appeal of the AO is dismissed

capital gains would not be taxable in the hands of GS-M.If the assessee was not liable to deduct taxes as per the provisions of section 195 of the Act, it cannot be held A-I-D.For invoking the provisions of section 201 of the Act,non deduction of taxes at source is a pre-condition.We also find force in the alternate argument raised

THE AZAD NAGAR, COOPERATIVE HOUSING, SOCIETY LTD,MUMBAI vs. CIT 21, MUMBAI

In the result, the appeals filed by the Assessee are dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

section 48, and indexation benefit is also allowed, there would be net capital loss of Rs.57,65,385/-. In this view of the matter, he deleted the addition of capital gains on protective basis in the assessment of the assessee. 5. The revenue is in appeal to contend that the assessee is practically the owner of the plot and since

SUVARNA NAGAR CO OPERATIVE HOUSING SOCIETY LTD,MUMBAI vs. CIT 21, MUMBAI

In the result, the appeals filed by the Assessee are dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

section 48, and indexation benefit is also allowed, there would be net capital loss of Rs.57,65,385/-. In this view of the matter, he deleted the addition of capital gains on protective basis in the assessment of the assessee. 5. The revenue is in appeal to contend that the assessee is practically the owner of the plot and since

THE NAVYUG CO OPERATIVE HOUSING SOCIETY LTD,MUMBAI vs. CIT 21, MUMBAI

In the result, the appeals filed by the Assessee are dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

section 48, and indexation benefit is also allowed, there would be net capital loss of Rs.57,65,385/-. In this view of the matter, he deleted the addition of capital gains on protective basis in the assessment of the assessee. 5. The revenue is in appeal to contend that the assessee is practically the owner of the plot and since

VITHALNAGAR CO OPERATIVE HOUSING SOCIETY LTD,MUMBAI vs. CIT 21, MUMBAI

In the result, the appeals filed by the Assessee are dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

section 48, and indexation benefit is also allowed, there would be net capital loss of Rs.57,65,385/-. In this view of the matter, he deleted the addition of capital gains on protective basis in the assessment of the assessee. 5. The revenue is in appeal to contend that the assessee is practically the owner of the plot and since

VALLABHNAGAR OPERATIVE HOUSING SOCIETY LTD,MUMBAI vs. CIT 21, MUMBAI

In the result, the appeals filed by the Assessee are dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

section 48, and indexation benefit is also allowed, there would be net capital loss of Rs.57,65,385/-. In this view of the matter, he deleted the addition of capital gains on protective basis in the assessment of the assessee. 5. The revenue is in appeal to contend that the assessee is practically the owner of the plot and since

JAI HIND CO OP HSG SOC LTD,MUMBAI vs. CIT 21, MUMBAI

In the result, the appeals filed by the Assessee are dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

section 48, and indexation benefit is also allowed, there would be net capital loss of Rs.57,65,385/-. In this view of the matter, he deleted the addition of capital gains on protective basis in the assessment of the assessee. 5. The revenue is in appeal to contend that the assessee is practically the owner of the plot and since

JSW STEEL LTD vs. ASST CIT CIR 11(5),

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

104/- under section 115JB after disallowing the following expenses/deductions claimed by the assessee in the normal computation of income and also making other adjustments while computing the book profits: • Addition of Rs.109,41,00,000/-, being the amount of depreciation attributable to the capital assets purchased out of loans taken from financial institutions but subsequently waived, liable to be taxed

ASST CIT CIR 11(5) vs. JSW STEEL LTD,

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

104/- under section 115JB after disallowing the following expenses/deductions claimed by the assessee in the normal computation of income and also making other adjustments while computing the book profits: • Addition of Rs.109,41,00,000/-, being the amount of depreciation attributable to the capital assets purchased out of loans taken from financial institutions but subsequently waived, liable to be taxed

ANIK INDUSTRIES LTD,MUMBAI vs. DCIT CC 40, MUMBAI

The appeal stands allowed

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.7189/Mum/2014 (िनधा"रण वष" / Assessment Year:2010-11) M/S. Anik Industries Ltd. Dcit-Central Circle -40 बनाम/ 610, Tulsiani Chambers Mumbai. Vs. Nariman Point, Mumbai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacm-2696-K (अपीलाथ"/Appellant) : (""थ" / Respondent) & आयकरअपील सं./ I.T.A. No.5234/Mum/2016 (िनधा"रण वष" / Assessment Year:2012-13) M/S. Anik Industries Ltd. Dcit-Central Circle -40 बनाम/ 610, Tulsiani Chambers Mumbai. Vs. Nariman Point, Mumbai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacm-2696-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Bhupendra Shah-Ld. Ar ""थ"कीओरसे/Respondent By : Shri Manoj Kumar-Ld. Dr सुनवाईकीतारीख/ : 17/01/2020 Date Of Hearing घोषणाकीतारीख / : 19/03/2020 Date Of Pronouncement

capital assets, on a dissolution of the firm or otherwise in the facts of this case. What is to be noted is that even in a situation where sub-section (4) of section 45 applies, profits or gains arising from the transfer are chargeable to tax as income of the firm. It was observed that during the subsistence

NIAMAT MAHROOF VIRJI,MUMBAI vs. ITO 17(3)(3), MUMBAI

In the result, appeal of the assessee is partly allowed as indicated above

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1964/Mum/2014 ("नधा"रण वष" / Assessment Year : 2009-10) Niamat Mahroof Virji, I.T.O. 17(3)(3), बनाम/ Unit 232, 2 Nd Floor, Piramal Chambers, V. Bussa Udyog Bhavan, Opp Parel P.O., T.J. Road, Mumbai. Sewree. Mumbai – 400 015. "थायी लेखा सं./Pan : Aahpv1071H (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

Section 50C of the Act , as against the actual agreement value of Rs 1,05,00,000/- for sale of the ancestral property by the assessee along with her brother and cousins. Thus, the addition of Rs.19,104/- was made by the AO in the hands of the assessee as long term capital gains