ASST. COMMISSIONER OF INCOME TAX (IT) 2(1)(1), MUMBAI, MUMBAI vs. CREDIT SUISSE (SINGAPORE) LIMITED, MUMBAI

In the result, both the appeals filed by the Revenue are dismissed

Bench: Ms. Kavitha Rajagopal, Jm & Smt. Renu Jauhri, Am

capital gains and losses in accordance with the Act without taking selective recourse to the DTAA and further that the assessee if chooses to take the benefit of tax treaty between India and Singapore then the income and losses should be covered under the said treaty and no carry forward of losses shall be allowed under the Income

ASST. COMMISSIONER OF INCOME TAX (IT) 2(1)(1), MUMBAI, MUMBAI vs. CREDIT SUISSE (SINGAPORE) LIMITED, SINGAPORE

In the result, both the appeals filed by the Revenue are dismissed

Bench: Ms. Kavitha Rajagopal, Jm & Smt. Renu Jauhri, Am

capital gains and losses in accordance with the Act without taking selective recourse to the DTAA and further that the assessee if chooses to take the benefit of tax treaty between India and Singapore then the income and losses should be covered under the said treaty and no carry forward of losses shall be allowed under the Income

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

capital expenditure is concerned, t expenditure is concerned, there is no dispute between the auditor here is no dispute between the auditor and the prescribed authority and the prescribed authority but, in respect of revenue expenditure , in respect of revenue expenditure, in the annexure to director report along with auditor certificate nexure to director report along with auditor certificate nexure

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

capital expenditure is concerned, t expenditure is concerned, there is no dispute between the auditor here is no dispute between the auditor and the prescribed authority and the prescribed authority but, in respect of revenue expenditure , in respect of revenue expenditure, in the annexure to director report along with auditor certificate nexure to director report along with auditor certificate nexure

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

capital expenditure is concerned, t expenditure is concerned, there is no dispute between the auditor here is no dispute between the auditor and the prescribed authority and the prescribed authority but, in respect of revenue expenditure , in respect of revenue expenditure, in the annexure to director report along with auditor certificate nexure to director report along with auditor certificate nexure

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

capital expenditure is concerned, t expenditure is concerned, there is no dispute between the auditor here is no dispute between the auditor and the prescribed authority and the prescribed authority but, in respect of revenue expenditure , in respect of revenue expenditure, in the annexure to director report along with auditor certificate nexure to director report along with auditor certificate nexure

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

capital expenditure is concerned, t expenditure is concerned, there is no dispute between the auditor here is no dispute between the auditor and the prescribed authority and the prescribed authority but, in respect of revenue expenditure , in respect of revenue expenditure, in the annexure to director report along with auditor certificate nexure to director report along with auditor certificate nexure

DANISH SHEIKH,USA vs. INCOME TAX OFFICER INTL TAX WARD 4(2)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सुं./Ita No. 1034/Mum/2025 (नििाारण वर्ा / Assessment Year :2016-17) Danish Sheikh V/S. Ito International Tax, 18, Old Planters Road, बिाम Ward 4(2)(1) Beverly, Usa-999999 Kautilya Bhavan, 6Th Floor, Bandra (E), Mumbai- 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Fjxps3005Q Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Pradip Kapasi राजस्व की ओर से /Revenue By: Shri Krishna Kumar, Sr. Dr.

246A of the Income tax Act. GROUND NO. 11: SERIOUS VIOLATION OF NATURAL JUSTICE Natural Justice was seriously violated when the notices u/s 148A were not served in time, when they were served on the date of the passing of order leaving not ime for compliance. Natural Justice was seriously violated when the reply Replies ignored (Pg 64 of Paper

VALUKKO INFRASTRUSTURE LIMITED,MUMBAI vs. INCOME TAX OFFICER, 11(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rahul Chaudhary & Smt. Renu Jauhriआयकर अपील सुं./Ita No. 1034/Mum/2025 (नििाारण वर्ा / Assessment Year :2016-17) Danish Sheikh V/S. Ito International Tax, 18, Old Planters Road, बिाम Ward 4(2)(1) Beverly, Usa-999999 Kautilya Bhavan, 6Th Floor, Bandra (E), Mumbai- 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Fjxps3005Q Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Pradip Kapasi राजस्व की ओर से /Revenue By: Shri Krishna Kumar, Sr. Dr.

246A of the Income tax Act. GROUND NO. 11: SERIOUS VIOLATION OF NATURAL JUSTICE Natural Justice was seriously violated when the notices u/s 148A were not served in time, when they were served on the date of the passing of order leaving not ime for compliance. Natural Justice was seriously violated when the reply Replies ignored (Pg 64 of Paper

M/S. LAXMI ORGANIC INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

section 35(2AB) then, deduction available\nto the extent of 100% of revenue and capital expenditure must be\nallowed under section 35(a)(i) and 35(1)(iv) of the Act respectively.\nAssessee provided working for the quantum of deduction for this\nalternative claim so as to restrict it to Rs.2,60,79,526/- instead