M/S. BANK OF AMERICAN , N.A,MUMBAI vs. THE JT DIT (I.T)3, MUMBAI

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

32A or section 33 or section 33A or the first proviso to clause\n(ix) of sub-section (1) of section 36 or any loss carried forward under sub-\nsection (1) of section 72 or sub-section (2) of section 73 or sub-section\n(1) 55 [or sub-section (3)] of section 74 or sub-section (3) of section

THE DY DIT (I.T) 1(1), MUMBAI vs. M/S. BANK OF AMERICA N.A., MUMBAI

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

32A or section 33 or section 33A or the first proviso to clause\n(ix) of sub-section (1) of section 36 or any loss carried forward under sub-\nsection (1) of section 72 or sub-section (2) of section 73 or sub-section\n(1) 55 [or sub-section (3)] of section 74 or sub-section (3) of section

METAL ROLLING WORKS LTD,MUMBAI vs. CIT(A)-47, MUMBAI

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

Bench: S/Shri B.R. Baskaran (Am) & Ravish Sood (Jm)

capital gain by adopting the sale consideration as Rs.46.44 crores. The assessee’s appeal filed before Ld CIT(A) did not find favour with him and hence the assessee has filed this appeal before us. 7. At the time of hearing, the Ld A.R furnished following statement which depicted the reason for the difference between the sale consideration

ROCKLINE DEVELOPERS P. LTD,MUMBAI vs. ITO 9(3)(4), MUMBAI

In the result, ground “A” raised in the appeal by the assessee stands dismissed

capital reserve and securities premium reserve) on the convergence date but not including the following:— (A) amount or aggregate of the amounts adjusted in the other comprehensive income on the convergence date which shall be subsequently re-classified to the profit or loss; (B) revaluation surplus for assets in accordance with the Indian Accounting Standards 16 and Indian Accounting Standards

TRENT LTD,MUMBAI vs. ADDL. C.I.T.-2(3), MUMBAI

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Trent Ltd., V. Add. Cit – 2(3) Bombay House, 2Nd Floor, 24 Aayakar Bhavan, M.K. Road Homi Mody Street, Fort Mumbai Mumbai – 400 001 Pan: Aaacl1838J (Appellant) (Respondent) Addl. Cit – 2(3) V. M/S. Trent Ltd., Room No. 556, 5Th Floor Bombay House, 2Nd Floor, 24 Aayakar Bhavan, M.K. Road Homi Mody Street, Fort Mumbai - 400 020 Mumbai – 400 001 Pan: Aaacl1838J (Appellant) (Respondent) M/S. Trent Ltd., V. Dy. Cit – 2(3) Bombay House, 2Nd Floor, 24 Aayakar Bhavan, M.K. Road Homi Mody Street, Fort Mumbai Mumbai – 400 001 Pan: Aaacl1838J (Appellant) (Respondent)

capital gains in the construction of a lodging house. This Court found that the running of a lodge would be an industrial undertaking within the meaning of Section 54D. 12. In Shankar Construction Co., the Karnataka High Court was considering the meaning of "industrial undertaking" under Section 32A

INCOME TAX OFFICER 41(3)(1), MUMBAI, MUMBAI vs. AJJAY AGARWAL (HUF), MUMBAI

In the result, ITA No.4295/Mum/2023 of revenue is allowed for statistical purposes

Bench: Shri Anikesh Banerjee & Shri Gagan Goyal

capital gains from the sale of shares is not genuine." Hence, the Hon'ble Supreme Court in the case of Durga Prasad More 82 ITR 540 and in the case of Sumati Dayal 214 ITR 801 has held that test of human probabilities should not be applied to verify whether any transactions is real or an attempt has been made

SI GROUP INDIA P. LTD,NAVI MUMBAI vs. DCIT (LTU), MUMBAI

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

capital reserve and securities premium reserve) on the convergence date but not including the following:— (A) amount or aggregate of the amounts adjusted in the other comprehensive income on the convergence date which shall be subsequently re-classified to the profit or loss; (B) revaluation surplus for assets in accordance with the Indian Accounting Standards 16 and Indian Accounting Standards

GROUP INDIA P. LTD,NAVI MUMBAI vs. DCIT (LTU), MUMBAI

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

capital reserve and securities premium reserve) on the convergence date but not including the following:— (A) amount or aggregate of the amounts adjusted in the other comprehensive income on the convergence date which shall be subsequently re-classified to the profit or loss; (B) revaluation surplus for assets in accordance with the Indian Accounting Standards 16 and Indian Accounting Standards

MANJU RAKESH JAIN,MUMBAI vs. PCIT, MUMBAI-20, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2020-21 Manju Rakesh Jain, Pcit, Mumbai-20 704-A, Highland Park, Lokhanwala 418, 4Th Floor, Piramal Chambers, Vs. Complex, Andheri West, Lalbaug, Parel, Mumbai-400058. Mumbai-400012. Pan No. Aaepj 9613 N Appellant Respondent

Capital Gains' and 'Income from Other Sources'. The return was selected for scrutiny and the assessment was The return was selected for scrutiny and the assessment The return was selected for scrutiny and the assessment completed under Section 143(3) read with Section 144B of the completed under Section 143(3) read with Section 144B of the completed under Section

ANTHONY JOHN PEREIRA,PALGHAR vs. ADDL CIT RG 4, THANE

In the result, appeal of the Assessee is partly allowed

capital gain for the year under consideration amounting to Rs.1,59,659/-, details of which are given as under :- Date of Date of Total cost Indexed Sale value Sale value Alleged sale and registration cost as per section LTCG handing agreement 50C over possession

DCIT CEN CIR 40, MUMBAI vs. SAF YEAST CO. P. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

32A can be used to explain the term power as used in Section 80IA(4)(iv) of the Act. Therefore, it is clear that the term power used in Section 80IA(4)(iv) of the Act is not only restricted to generation of electricity but for generation of any form of power. For the use of internal aid, the assessee

DCIT CEN CIR 40, MUMBAI vs. SAF YEAST CO. P. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

32A can be used to explain the term power as used in Section 80IA(4)(iv) of the Act. Therefore, it is clear that the term power used in Section 80IA(4)(iv) of the Act is not only restricted to generation of electricity but for generation of any form of power. For the use of internal aid, the assessee

DCIT CEN CIR 40, MUMBAI vs. SAF YEAST CO. P. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

32A can be used to explain the term power as used in Section 80IA(4)(iv) of the Act. Therefore, it is clear that the term power used in Section 80IA(4)(iv) of the Act is not only restricted to generation of electricity but for generation of any form of power. For the use of internal aid, the assessee

SAF YEAST COMPANY P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

32A can be used to explain the term power as used in Section 80IA(4)(iv) of the Act. Therefore, it is clear that the term power used in Section 80IA(4)(iv) of the Act is not only restricted to generation of electricity but for generation of any form of power. For the use of internal aid, the assessee

SAF YEAST COMPANY P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

32A can be used to explain the term power as used in Section 80IA(4)(iv) of the Act. Therefore, it is clear that the term power used in Section 80IA(4)(iv) of the Act is not only restricted to generation of electricity but for generation of any form of power. For the use of internal aid, the assessee

SAF YEAST COMPANY P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

32A can be used to explain the term power as used in Section 80IA(4)(iv) of the Act. Therefore, it is clear that the term power used in Section 80IA(4)(iv) of the Act is not only restricted to generation of electricity but for generation of any form of power. For the use of internal aid, the assessee

SAF YEAST COMPANY P.LTD,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are partly allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

32A can be used to explain the term power as used in Section 80IA(4)(iv) of the Act. Therefore, it is clear that the term power used in Section 80IA(4)(iv) of the Act is not only restricted to generation of electricity but for generation of any form of power. For the use of internal aid, the assessee

NUCLEAR POWER CORPORATION OF INDIA LTD,MUMBAI vs. CIT LTU, MUMBAI

In the result, this appeal by the assessee stands allowed for statistical purpose

32A. However, the conditions "acquires and installs new asset" are required to be fulfilled cumulatively for the purpose of section 32AC. 10 Nuclear Power Corporation of India Limited 3.8 This above difference may also be appreciated by comparing clause (a) & clause (b) of Section 32AC(1). 3.9 For claiming deduction u/s 32AC for AY 2014-15 , the relevant period