EMPLOYEES RETIREMENT SYSTEM OF TEXAS ,MUMBAI vs. DY CIT (INT. TAX)-2(2)(1), MUMBAI

The appeals are partly allowed

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

b) Balance Short Term Capital Loss (STT paid) was set off against the Short Term Capital Gains (STT paid: taxable at the rate of 15% under Section 111A) Thereafter, the Balance Short Term Capital Gain of Assessment Year 2022-2023 INR.3,70,83,534/- was offered to tax at the rate of 15% under Section 111A. 5. According

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

271(l)(c) of the Act is initiated separately.” 5.2 On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire capital gain on account of conversion of capital asset being land capital gain

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

271(l)(c) of the Act is initiated separately.” 5.2 On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire capital gain on account of conversion of capital asset being land capital gain

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

271(l)(c) of the Act is initiated separately.” 5.2 On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire capital gain on account of conversion of capital asset being land capital gain

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

271(l)(c) of the Act is initiated separately.” 5.2 On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire capital gain on account of conversion of capital asset being land capital gain

GENERAL ELECTRIC INTERNATIONAL INC.,GURGAON vs. DCIT, INTERNATIONAL TAXATION CIRCLE 2(3)(2), MUMBAI

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

b) The Assessing Officer had erred in concluding that the Appellant had furnished inaccurate particulars of income in respect of addition of receipts from Soft-Skills/Non- Technical Training of INR 11,96,947/- brought to tax in hands of the Appellant as all the material facts were correctly disclosed in the return of income as well as during

SHANNO MOHAMMED YUSUF WARSI ,MUMBAI vs. INCOME TAX OFFICER-25(1)(3), MUMBAI

In the result, the appeal

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

271(1)(c) is initiated for furnishing inaccurate particulars of income ated for furnishing inaccurate particulars of income with a view to concealment of income. with a view to concealment of income.” 3. Before the Ld. CIT(A) Before the Ld. CIT(A) the assessee challenged validity of the challenged validity of the reassessment as well as merit

FIDELITY RUTLAND SQUARE TRUST II STRATEGIC ADVISERS EMERGING MARKETS FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION), MUMBAI

The appeals are partly allowed

271,201)\n(223,701,502)\n(9,77,33,796)\n174,64,01,537\n164,86,67,741\n5. 1. The underlying facts show that the assessee had short\nterm capital gains on STT paid shares, short term capital\nloss on STT paid shares and also short term capital gains\non non-STT paid shares and short term capital

FIDELITY RUTLAND SQUARE TRUST II STRATEGIC ADVISERS FID EMG MARKETS FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )2(3)(1), MUMBAI

271,201)\n(223,701,502)\n(9,77,33,796)\n174,64,01,537\n164,86,67,741\n\n5.1.\nThe underlying facts show that the assessee had short\nterm capital gains on STT paid shares, short term capital\nloss on STT paid shares and also short term capital gains\non non-STT paid shares and short term capital

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

b), (c), & (d) of Rule 46A(1) additional evidence can be adduced. Rule 46A itself contains the principles of natural justice. That being so, sub rule(4) of Rule 46A, does not permit to accept any additional evidence in contravention of provisions of sub rule (2) &(3) of Rule 46A. Ample opportunities were provided to the assessee during the assessment

GAUTAM PURANMAL PODDAR,KALYAN vs. ACIT, CIRCLE 3(2), KALYAN

In the result, the appeals of the assessee are allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 583 & 584/Mum/2023 Assessment Years: 2014-15 & 2015-16 Gautam Puranmal Poddar Acit, Circle-3(2), (Huf), 2Nd Floor, Rani Mansion, Plot No. Rl 1 Milap Nagar Midc Vs. Above Canara Bank, Resioential Area Dombivli East Murbad Rd. Kalyan, Kalyan-421 301. Thane-421 301. Pan No. Aaehg 6868 A Appellant Respondent Assessee By : Mr. Jayant Bhatt, Ca Revenue By : Mr. Paresh Deshpande, Dr : Date Of Hearing 27/04/2023 Date Of Pronouncement : 28/04/2023 Order

capital gain u/s 10(38) of the Act for long te was added to the returned income. The addition made was accepted was added to the returned income. The addition made was was added to the returned income. The addition made was by the assessee and no further appeal was filed. In the assessment by the assessee and no further

GAUTAM PURANMAL PODDAR,KALYAN vs. ACIT, CIRCLE 3(2), KALYAN

In the result, the appeals of the assessee are allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 583 & 584/Mum/2023 Assessment Years: 2014-15 & 2015-16 Gautam Puranmal Poddar Acit, Circle-3(2), (Huf), 2Nd Floor, Rani Mansion, Plot No. Rl 1 Milap Nagar Midc Vs. Above Canara Bank, Resioential Area Dombivli East Murbad Rd. Kalyan, Kalyan-421 301. Thane-421 301. Pan No. Aaehg 6868 A Appellant Respondent Assessee By : Mr. Jayant Bhatt, Ca Revenue By : Mr. Paresh Deshpande, Dr : Date Of Hearing 27/04/2023 Date Of Pronouncement : 28/04/2023 Order

capital gain u/s 10(38) of the Act for long te was added to the returned income. The addition made was accepted was added to the returned income. The addition made was was added to the returned income. The addition made was by the assessee and no further appeal was filed. In the assessment by the assessee and no further

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

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

271,201) STCL (bf) STT (223,701,502) Balance STCL (STT) (9,77,33,796) STCG (STT) 174,64,01,537 Net STCG (STT) 164,86,67,741 5.1. The underlying facts show that the assessee had short term capital gains on STT paid shares, short term capital loss on STT paid shares and also short term capital gains

THERMO FISHER SCIENTIFIC INDIA PVT LTD. ,MUMBAI vs. DCIT-15(3)(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2009-10 Thermo Fisher Scientific India Dy. Cit-15(3)(1), Pvt. Ltd., Room No. 360, Aayakar Vs. 403-404, ‘B’ Wing, Delphi, Bhavan, New Marine Lines, Hiranandani Business Park, Mumbai-400020. Mumbai-400076. Pan No. Aabct 3207 A Appellant Respondent

271(1)(c) of the IT Act. 2. Briefly stated facts of the case are that Briefly stated facts of the case are that the assessee i.e. M/s the assessee i.e. M/s Thermo Fisher Scientific India Private Limited (previously "Thermo Thermo Fisher Scientific India Private Limited (previously "Thermo Thermo Fisher Scientific India Private Limited (previously "Thermo Electron LLS India Private

M/S MASCOT CONSTRUCTION PVT. LTD.,MUMBAI vs. INCOME TAX OFFICER, 2(2)(3)

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2010-11 M/S Mascot Constructions Pvt. Ltd., Income-Tax Officer 2(2)(3), 3Rd Floor, Indian Mercantile Aayakar Bhavan, Vs. Chambers, 14R, Kamani Marg, Mumbai-400020. Ballard Estate, Mumbai-400001. Pan No. Aaccm 6531 H Appellant Respondent

271(1)(c) on the appellant company as the latter had furnished inaccurate particulars of latter had furnished inaccurate particulars of its income by reporting as a its income by reporting as a 'Capital Receipt' an item of income which was clearly attracting a capital 'Capital Receipt' an item of income which was clearly attracting a capital 'Capital Receipt

ILA JITENDRA MEHTA,MUMBAI vs. DCIT CENTRAL CIRCLE 8(4), MUMBAI

In the result, the appeal of the Assessee is allowed

Bench: Shri Narender Kumar Choudhry & Smt Renu Jauhriassessment Year: 2014-15

capital gain, which was disallowed and a penalty u/s 271(1)(c) of the Act has been initiated for the A.Y. 2013-14. Thus, it is evident that the Assessee is habitually claiming incorrect deduction u/s 54F of the Act. Thus, the incorrect deduction claimed by the Assessee cannot be considered as a mistake nor a bonafide mistake”. ultimately, disallowed

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

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

B' Pratik\nSuryakant Shah\nIncome-tax Officer, Ward-\n10 (3), Ahmedabad*\nOCTOBER 21, 2016\nSection 10(38), read with section 147, of the\nIncome-tax Act, 1961 Capital gains - Income\narising from transfer of long-term securities\n(Bogus transactions) Assessment year 2006-\n07 Assesse purchased 3000 shares of\ncompany 'T' through a stock broker These\nshares were transferred

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

1) of the Act requiring assessee to explain with evidences why the Long Term Capital Gain should not be treated as non-genuine and sale consideration received on the penny stock should not be taxed as an unexplained cash credit under section 68 of the Act. 7. In response, assessee filed its submissions vide letter dated 15.12.2017, for the sake

PERCIVAL JOSEPH PEREIRA ,MUMBAI vs. INCOME TAX OFFICER (IT)-3(3)(1), MUMBAI

In the result, both the appeals by the assessee are allowed

Bench: Amit Shukla & Shri Girish Agrawal

capital gain of the year in which the final order is passed by the Hon'ble High Court. 9.2. Further, clause (c) to section 45(5) provides that where the award is not stayed and no compensation is paid pursuant to an interim order then, this clause(c) applies. Proviso to clause (b) to section