ITO 3(3)2, MUMBAI vs. SHAMROCK PHARMACHEMI P.LTD, MUMBAI

In the result appeal of the Revenue in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1774/Mum/2013 (नििाारण वर्ा / Assessment Year: 2009-10) बिाम/ Ito 3(3)2, M/S. Shamrock R.No. 602, Pharmachemi Pvt. Ltd., Aayakar Bhavan, 83E,Hansraj Pragi Bldg., V. M.K Road, Opp. Dr. E Moses Road, Mumbai 400020 Worli, Mumbai-400018 स्थायी ऱेखा सं./ Pan: Aaacs6290H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri. Ashim Kumar Modi (Cit- Dr), Shri V. Justin & Ms. Chaitna Ajaria Shri. Bharat L. Gandhi Assessee By: सुनवाई की तारीख /Date Of Hearing : 01.03.2019 घोषणा की तारीख /Date Of Pronouncement : 30.05.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 1774/Mum/2013, Is Directed Against Appellate Order Dated 29.10.2012, Passed By Learned Commissioner Of Income Tax (Appeals)-7, Mumbai (Hereinafter Called ―The Cit(A)‖) In Appeal Number Cit(A)-7/Ito-3(3)(2)/It-166/11-12, For Assessment Year 2009-10, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 29.12.2011 Passed By Learned Assessing Officer (Hereinafter Called ―The Ao‖) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called ―The Act‖) For Ay 2009-10. I.T.A. No.1774/Mum/2013

195 - Other sums: (1) Any person responsible for paying to a non-resident not being a company, or to a foreign company, any interest (not being interest referred to in section 194LB or section 194LC) or section 194LD or any other sum chargeable under the provisions of this Act (not being income chargeable under the head "Salaries") shall

DCIT-14(1)(1), MUMBAI vs. JAYMALA INFRASTRUCTURE PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dism

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13

195 - 207 7. Ronit Textiles Private Limited Ronit 217 - 233 8. Shandhiya Marketing & Advertising Private 242-281 Shandhiya Marketing & Advertising Private Shandhiya Marketing & Advertising Private Limited 242 - 254 Limited 242 Speciality Paper Limited 9. Speciality Paper Limited 258 - 281 10. Terry Towel Industries Limited Terry Towel Industries Limited 282-311 1.2 Further it is submitted that the documents submitted

ACIT 11(3)(1), MUMBAI vs. TOTAL OIL INDIA P.LTD, MUMBAI

Bench: Shri G. S. Pannu, Vp & Shri Amarjit Singh, Jm

capital expenditure. 2.1 During the course of assessment proceedings, the assessee submitted before the AO that it has debited Rs.8,42,189/- as EDP expenses and included it in ‘Miscellaneous Expenses’. The AO following the judgment of the Hon’ble Rajasthan High Court in the case of CIT vs. Arawali Constructions (P) Ltd. 259 ITR 30 (Raj) disallowed the said

TOTAL OIL INDIA P.LTD,MUMBAI vs. ADDL CIT RG 8(3), MUMBAI

Bench: Shri G. S. Pannu, Vp & Shri Amarjit Singh, Jm

capital expenditure. 2.1 During the course of assessment proceedings, the assessee submitted before the AO that it has debited Rs.8,42,189/- as EDP expenses and included it in ‘Miscellaneous Expenses’. The AO following the judgment of the Hon’ble Rajasthan High Court in the case of CIT vs. Arawali Constructions (P) Ltd. 259 ITR 30 (Raj) disallowed the said

DCIT 8(2)(1), MUMBAI vs. SHAMROCK PHARMACHEMI P. LTD., MUMBAI

In the result, both appeals of the revenue are dismissed

Bench: Shri Saktijit Dey & Shri M.Balaganeshita Nos. 862 & 863/Mum/2018 (Assessment Years :2013-14 & 2014-15) Dcit-8(2)(1) Vs. M/S. Shamrock Pharmachemi Room No.624, Pvt.Ltd. Aaykar Bhawan, M.K.Road Off Dr. E Moses Road Mumbai-400 020 Worli, Mumbai-400 025 Pan/Gir No.Aaacs6290H (Appellant) .. (Respondent) Assessee By Shri Bharat Gandhi, Ar Revenue By Shri V.Vinod Kumar, Sr.Ar Date Of Hearing 28/10/2020 Date Of Pronouncement 11/11/2020 आदेश / O R D E R Per M. Balaganesh (A.M): These Two Appeals Filed By Revenue In Ita Nos. 862 & 863/Mum/2018 For Assessment Years (Ay) 2013-14 & 2014-15 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)- 14, Mumbai In Appeals No.Cit(A)-14/It-170/15-16 & Cit(A)-14/It- 119/16-17, Dated 27/11/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 31/08/2016 By The Ld. Deputy Commissioner Of Income Tax-8(2)(1), Mumbai (Hereinafter Referred To As Ld. Ao).

195 - Other sums: (1) Any person responsible for paying to a non-resident not being a company, or to a foreign company, any interest (not being interest referred to in section 194LB or section 194LC) or section 194LD or any other sum chargeable under the provisions of this Act (not being income chargeable under the head "Salaries") shall

BUNKIM FINANCE & INVESTMENTS P. LTD,MUMBAI vs. ITO 10(3)(1), MUMBAI

In the result, both the appeals stand dismissed

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am

2)(iii) for Rs.3.79 Lacs. Since total expenditure debited to Profit & Loss Account was Rs.7.93 Lacs, the aforesaid disallowance was restricted to Rs.7.93 Lacs. 3.2 The learned first appellate authority, while confirming the stand of Ld. AO in invoking the provisions of Section 14A, directed Ld. AO to restrict the disallowance to 10% of exempt income and deleted the balance

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)

2) of the Act that during the previous year, the assessee has sold two plots of land and invested in two residential properties and the assessee does not have a third residential property. The assessee stated that if at all the benefit u/s 54F of the Act is to be allowed only for one property, the same may be allowed

BENNETT COLEMAN & COMPANY LIMITED,MUMBAI vs. ASST. CIT 1(1)(1), MUMBAI

In the result assessee appeal is allowed and revenue appeal is dismissed

Bench: Shri Shamim Yahya & Shri Pavan Kumar Gadalem/S. Bennett Coleman Vs. Acit – 1(1)(1) & Company Ltd., 5Th Floor, Aaykar The Times Of India Bhavan, Churchgate, Bldg, Dn Road, Fort, Mumbai – 400020. Mumbai – 400001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacb4373Q Appellant .. Respondent Dcit – 1(1)(1) Vs. M/S. Bennett Coleman 5Th Floor, Aaykar & Company Ltd., Bhavan, Churchgate, The Times Of India Mumbai – 400020. Bldg, Dn Road, Fort, Mumbai – 400001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacb4373Q Appellant/Respondent .. Respondent/Appellant Appellant/Respondent Shri Srinivasan By : Venkataraman.Ar Respondent/Appellant Shri. K.C. Selvamani. Dr By : Date Of Hearing 23.08.2021 Date Of Pronouncement 15.11.2021 आदेश / O R D E R Per Pavan Kumar Gadale Jm:

gain from shares subjected to STT and claimed exempt u/s. 10(38) of the Act. Accordingly, we direct the Assessing Officer to allow carry forward of long term capital loss as claimed by the assessee. Ground nos. 2 & 3 raised by the assessee are allowed. 14. In the result, the appeal is allowed. 8. We find the Honble Tribunal

HITESH CHHATWAL,MUMBAI vs. DCIT CC -5(4), MUMBAI

In the result, the appeals of the assessee are allowed while for the appeal of the revenue are dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

capital gains." The mere fact that the agreement contains a non-compete clause, payment in respect whereof may not be chargeable to tax in accordance with the aforesaid provisions, does not enable us to hold that the agreement between the assessee and the purchaser is anything other than a transfer of the business of the assessee. A cursory perusal

UNIVERSAL MEDICARE P.LTD,MUMBAI vs. DCIT CEN CIR 3(2), MUMBAI

In the result this ground of appeal is allowed for

Bench: Shri Pawan Singh & Shri S. Rifaur Rahmanuniversal Medicare Pvt. Ltd., Dcit, Central Cricle-3(2), Capsulation Premises, Mumbai (Erstwhile Asst. Sion Trombay Road, Deonar, Vs. Commissioner Of Income Mumbai-400088. Tax, Cc-20, Mumbai), Room No. 1923, 19Th Floor, Pan: Aaacu0717B Air India Building, Nariman Point, Mumbai-400021. Appellant Respondent C.O. No. 268/Mum/2017 (Assessment Year 2012-13) Dcit, Central Cricle-3(2), Universal Medicare Pvt. Ltd., Mumbai (Erstwhile Asst. Capsulation Premises, Commissioner Of Income Vs. Sion Trombay Road, Deonar, Tax, Cc-20, Mumbai), Room Mumbai-400088. No. 1923, 19Th Floor, Air Pan: Aaacu0717B India Building, Nariman Point, Mumbai-400021. Appellant Respondent Appellant By : Shri J.D. Mistry Senior Advocate With Shri Manish Shah Advocate Respondent By : Mrs. S. Padmaja (Cit-Dr)

section 50B and at the same time can stay claim that it is not a going concern transaction but subject to adjustment. The ld. DR vehemently submits that the transfer of business on which the Capital Gains arise is not dependent on the supply agreement. In support of her submission, the ld. DR for the revenue relied upon the following

BAY CAPITAL INDIA FUND LIMITED,MUMBAI vs. CIT (A) 55, MUMBAI, MUMBAI

In the result, the appeal by the assessee is allowed

2\n“1. On the facts and circumstances of the case and in law, the Ld. CIT(A) has\nerred in confirming the intimation u/s 143(1) of the Income-tax Act, 1961,\nsetting off non-grandfathered (taxable) short term and long-term capital\nlosses totaling to Rs.3,59,84,420 against the grandfathered (exempt) long\nterm capital gain under

A.C.I.T. 4(2), MUMBAI vs. VIMLA SURESH JAJOO, MUMBAI

In the result, all the appeals of the Revenue are hereby dismissed and the appeal of the assessee i

Bench: Shri Sanjay Garg & Shri Ashwani Taneja

2), Mumbai, the same Assessing Officer who has passed the order for A.Y.2005-06 in case of Shri Suresh K. Jajoo and Vimla Jajoo exactly on the same day, ie. 26.12.2006. Despite large number of transactions leading to short term and long term capital gain of the assessee's, the A.O. has held both Shri Suresh K. Jajoo and Vimla Jajoo

ACIT CIR-4(2), MUMBAI vs. M/S. VIMLA S. JAJOO, MUMBAI

In the result, all the appeals of the Revenue are hereby dismissed and the appeal of the assessee i

Bench: Shri Sanjay Garg & Shri Ashwani Taneja

2), Mumbai, the same Assessing Officer who has passed the order for A.Y.2005-06 in case of Shri Suresh K. Jajoo and Vimla Jajoo exactly on the same day, ie. 26.12.2006. Despite large number of transactions leading to short term and long term capital gain of the assessee's, the A.O. has held both Shri Suresh K. Jajoo and Vimla Jajoo

ACIT CIR 4(2), MUMBAI vs. SURESH K JAJOO, MUMBAI

In the result, all the appeals of the Revenue are hereby dismissed and the appeal of the assessee i

Bench: Shri Sanjay Garg & Shri Ashwani Taneja

2), Mumbai, the same Assessing Officer who has passed the order for A.Y.2005-06 in case of Shri Suresh K. Jajoo and Vimla Jajoo exactly on the same day, ie. 26.12.2006. Despite large number of transactions leading to short term and long term capital gain of the assessee's, the A.O. has held both Shri Suresh K. Jajoo and Vimla Jajoo

SURESH K JAJOO,MUMBAI vs. ACIT CIR 4(2), MUMBAI

In the result, all the appeals of the Revenue are hereby dismissed and the appeal of the assessee i

Bench: Shri Sanjay Garg & Shri Ashwani Taneja

2), Mumbai, the same Assessing Officer who has passed the order for A.Y.2005-06 in case of Shri Suresh K. Jajoo and Vimla Jajoo exactly on the same day, ie. 26.12.2006. Despite large number of transactions leading to short term and long term capital gain of the assessee's, the A.O. has held both Shri Suresh K. Jajoo and Vimla Jajoo

ACIT CIR-4(2), MUMBAI vs. M/S. SURESH K. JAJOO, MUMBAI

In the result, all the appeals of the Revenue are hereby dismissed and the appeal of the assessee i

Bench: Shri Sanjay Garg & Shri Ashwani Taneja

2), Mumbai, the same Assessing Officer who has passed the order for A.Y.2005-06 in case of Shri Suresh K. Jajoo and Vimla Jajoo exactly on the same day, ie. 26.12.2006. Despite large number of transactions leading to short term and long term capital gain of the assessee's, the A.O. has held both Shri Suresh K. Jajoo and Vimla Jajoo

ACIT CIR 4(2), MUMBAI vs. SURESH K JAJOO, MUMBAI

In the result, all the appeals of the Revenue are hereby dismissed and the appeal of the assessee i

Bench: Shri Sanjay Garg & Shri Ashwani Taneja

2), Mumbai, the same Assessing Officer who has passed the order for A.Y.2005-06 in case of Shri Suresh K. Jajoo and Vimla Jajoo exactly on the same day, ie. 26.12.2006. Despite large number of transactions leading to short term and long term capital gain of the assessee's, the A.O. has held both Shri Suresh K. Jajoo and Vimla Jajoo

DCIT 4(2), MUMBAI vs. VIMLA S. JAJOO, MUMBAI

In the result, all the appeals of the Revenue are hereby dismissed and the appeal of the assessee i

Bench: Shri Sanjay Garg & Shri Ashwani Taneja

2), Mumbai, the same Assessing Officer who has passed the order for A.Y.2005-06 in case of Shri Suresh K. Jajoo and Vimla Jajoo exactly on the same day, ie. 26.12.2006. Despite large number of transactions leading to short term and long term capital gain of the assessee's, the A.O. has held both Shri Suresh K. Jajoo and Vimla Jajoo