ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

gains arising from the transfer by way of conversion by the owner of a capita! asset into, or its treatment by him as stock way of conversion by the owner of capita! asset into, or its treatment by him as stock-in-trade of abusiness carried on by him shall be chargeable to ried on by him shall be chargeable

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

gains arising from the transfer by way of conversion by the owner of a capita! asset into, or its treatment by him as stock way of conversion by the owner of capita! asset into, or its treatment by him as stock-in-trade of abusiness carried on by him shall be chargeable to ried on by him shall be chargeable

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

gains arising from the transfer by way of conversion by the owner of a capita! asset into, or its treatment by him as stock way of conversion by the owner of capita! asset into, or its treatment by him as stock-in-trade of abusiness carried on by him shall be chargeable to ried on by him shall be chargeable

ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

gains arising from the transfer by way of conversion by the owner of a capita! asset into, or its treatment by him as stock way of conversion by the owner of capita! asset into, or its treatment by him as stock-in-trade of abusiness carried on by him shall be chargeable to ried on by him shall be chargeable

MATRIX PARTNERS INDIA INVESTMENT HOLDINGS, LLC,MAURITIUS vs. DEPUTY COMMISSIONER OF INCOME TAX, MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Ms. Padmavathy S ()

section 90(2), the Ld. A.O. has granted the beneficial option to the applicant at the preference of the Applicant itself. 11. Treaty Provisions are applicable in re/ qua "Income" and not "sources". In this case, there has been one single species of Income, "capital gains" that too, Long Term Capital Gains. 7. To sum up, as per facts

FAROOQ ABDULLA MERCHANT,MUMBAI vs. ITO 23 (1)(4), MUMBAI

In the result, Ground No. V raised by the assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Blefarooq Abdulla Merchant V. Income Tax Officer- Ward – 23(1)(4) Matru Mandir, Tardev Road A-1401, Poseidon Tower Mumbai – 400 007 Versova, Yari Road Above Indian Bank, Versova Andheri (W), Mumbai - 400061 Pan: Ahupm7426K (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punamiya Department Represented By : Smt. Vranda U. Matkarni

section 54 of the income Tax Act, 1961. 2. Commission expenses of Rs.2101981/-: Commission has been paid by my client is Rs.2101981/- for the purpose of sale of Bandra Flat, which has been fully affirmed by the agent which has been incurred by my client, which has been properly claimed by my client, even legal fees paid to Mr. Subhash

ITO 41(3)(1), MUMBAI, MUMBAI vs. DEEPIKA ANIL AGARWAL, MUMBAI

In the result the appeal filed by the revenue stands\ndismissed

section 68of the Income Tax Act, 1961without\nconsidering the documentary evidences submitted by respondent\nduring the assessment proceedings and passed order dated\n29.12.2017 raising a demand of Rs.2,27,19,630/-.\n12. The Ld. AO did not do analysis of facts and he only relied on information,\nwithout appreciating evidences. Ld. A.O. did not apply his mind and made\naddition

TARUN KUMAR RATAN SINGH RATHI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 32(1), MUMBAI

250 of the Income Tax Act, 1961 ('the Act'), by the\nLearned Commissioner of Income Tax (Appeals) / National\nFaceless Appeal Centre, Delhi ('Ld. CIT(A)'), for the\n assessment year 2015-16. The assessee has raised the\nfollowing grounds of appeal:\n1 On the facts and in the circumstances of the case

ISC SPECIALITY CHEMICALS LLP ,MUMBAI vs. ITO WARD 19(1)(5), MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

section (xiiiib) to Sec. 47, that prior to its insertion, the 'transfer' of assets on conversion of a company into a LLP attracted levy of "capital gains" tax. The legislature in all its wisdom had vide the Finance Act, 2010 made Sec. 47(xiiib) available on the statute, with the purpose that the transfer of assets on conversion

RAJENDRA KUMAR MUNDRA (HUF),MUMBAI vs. NATIONAL FACELESS ASSESSMENT CENTRE (NFAC), DELHI

In the result the appeal filed by the assessee stands allowed

Bench: Hon’Ble Shri Sandeep Gosain& Shri Girish Agrawalrajendra Kumar Mundra Vs. Ito, Ward 24(3)(1) (Huf) Piramal Chamber C-28, Ameya Bldg, Behind Lalbaug, Mumbai – Ymca Dn Nagar Andheri (W) 400012. 400053. Pan/Gir No.Aadh6828J (Applicant) (Respondent)

capital Date of gains/ loss made therein and the AOhaving Pronouncement: considered the details, took a conclusive 12/03/2025 view, reassessment proceedings which are initiatedu/s 147 by way of reconsideration of the material already available at the time of original assessment proceedings, would amount to change of opinion. In this regard, while passing the impugned order, Learned CIT(A) relied

SHRI RAJESH RAMCHANDRA DAKE,PANVEL vs. DY CIT CC-1, MUMBAI

gains addition, the Tribunal held that the lands sold were agricultural lands, situated beyond 8 km from the municipal limits (based on physical measurement and Google Maps evidence), and therefore not a capital asset under Section 2(14) of the Act. The Revenue's cross-objection was dismissed as infructuous.", "result": "Allowed", "sections

CHERYL OSCAR PEREIRA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 13(1)(2), MUMBAI, MUMBAI

In the result, appeal of the assessee bearing ITA No

Bench: Shri Anikesh Banerjee & Shri Gagan Goyal

250 of the Income-tax Act, 1961 (in short, ‘the Act’), for Assessment Year 2015-16, date of order 19.01.2024.The impugned order was emanated from the order of the Ld.Deputy Commissioner of Income Tax, Circle-13(1)(2), Mumbai (in short, ‘the A.O.’) passed under section 143(3) of the Act. 2. The assesseehas taken the following grounds of appeal

UDAYAN GROVER,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE(NFAC), DELHI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleudayan Grover V. National Faceless Appeal Centre Panch Mahal Delhi Panch Sristhi Complex {Acit – 26(3), Bkc, Mumbai} Powai, Mumbai - 400072 Pan: Aclpg0572G (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punmiya Department Represented By : Ms. Kavitha Kaushik

capital gain as unexplained cash credit, Rs. 1,25,00,000/- made on account of treating unsecured loans as unexplained cash credit and Rs. 62,81,000/- disallowed under section 57 totally amounting to Rs. 6,46,91,500/- may kindly be deleted and the income declared by the assessee may be accepted.” 10. After considering detailed submissions

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

In the result, the appeal by the assessee is allowed

section 250 of the Income Tax Act,\n1961 (“the Act”) by the learned Commissioner of Income Tax (Appeals)-55,\nMumbai, [“learned CIT(A)”], for the assessment year 2019-20.\n2.\nIn this appeal, the assessee has raised the following grounds of appeal:-\nITA No.6355/Mum/2024 (A.Y. 2019-20) 2\n“1. On the facts and circumstances of the case

VERITAS (INDIA) LTD,MUMBAI vs. DCIT - CC- 5(1), MUMBAI

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

capital gain. Therefore, on the same reasoning as given Tribunal in assessee’s own group cases (supra), we reverse the order of Ld CIT(A) and confirm the addition to the tune of Rs.2,00,76,725/- as well as commission of Rs.10,03,836/-. 17. The other grounds of appeal of the revenue are general in nature

JT. CIT (OSD) ,CC - 5(1), MUMBAI vs. VERITAS INDIA LTD., MUMBAI

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

capital gain. Therefore, on the same reasoning as given Tribunal in assessee’s own group cases (supra), we reverse the order of Ld CIT(A) and confirm the addition to the tune of Rs.2,00,76,725/- as well as commission of Rs.10,03,836/-. 17. The other grounds of appeal of the revenue are general in nature

MEENA HASMUKH SAVLA,MATUNGA MUMBAI vs. ASSESSMENT UNIT, NATIONAL FACELESS ASSESSMENT CENTRE

In the result the appeal filed by the assessee is\nallowed

250 of the Income Tax Act, 1961 (‘the Act'), by the Commissioner of Income Tax (Appears)-51, Mumbai for the assessment year 2016-17.\n\n2. The brief facts of the case are that the assessee is an individual and deriving income from salary and other sources. The return of income for the year under consideration was filed thereby declaring

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

250 of the Income-tax Act, 1961 [hereinafter referred to as “the Act”], all dated 25.08.2025, arising out of the assessment orders passed by the Assessing Officer. Since these appeals were heard together and are being disposed of by this consolidated order for the sake of convenience. Facts of the Case 2. The assessee is a resident company engaged