PIRAMAL HEALTHCARE LTD ( EARLIER KNOWNAS NICHOLAS PIRAMAL INDIA LTD),MUMBAI vs. ADDL CIT 7(1), MUMBAI

Bench: Shri Kuldip Singh & Shri S Rifaur Rahmanassessment Year: 2005-06 M/S. Piramal Enterprises Dy. Commissioner Of Limited (Formerly Known Income Tax, As Piramal Healthcare Range-8(2)(1), Limited) (Earlier Known As Mumbai. Nicholas Piramal India Ltd.), Vs. Piramal Tower, Agastya Corporate Park, Lbs Marg, Kamani Junction, Kurla (West), Mumbai – 400 070 Pan: Aaacn4538P (Appellant) (Respondent) Assessment Year: 2005-06 Dy. Commissioner Of M/S. Piramal Enterprises Income Tax, Limited (Formerly Known Circle-8(2)(1), As Piramal Healthcare [Erstwhile Dcit Circle- Ltd.) (As Ultimate 7(1)], Successor To Nicholas Vs. Mumbai. Piramal India Ltd.), Piramal Tower, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013 Pan: Aaacn4538P (Appellant) (Respondent)

gain as capital receipt, not chargeable to tax. GROUND XVI: The Appellant craves leaves to add to, alter and / or delete the above ground of appeal.” Grounds of Revenue’s Appeal bearing ITA No.5091/M/2010 for A.Y. 2005-06 “1. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in directing the Assessing

HSBC SECURITIES AND CAPITAL MARKETS (I) P.LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

Gains. 3.1.7. On the facts and in the circumstances of the case and in law, the Hon'ble DRP erred in making wrong references to section 47(iv), (v) and (vid) without M/s HSBC Securities and Capital Markets (India) Pvt. Ltd. appreciating that these sections have no application whatsoever to the facts of the present case and further that these

HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P. LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

Gains. 3.1.7. On the facts and in the circumstances of the case and in law, the Hon'ble DRP erred in making wrong references to section 47(iv), (v) and (vid) without M/s HSBC Securities and Capital Markets (India) Pvt. Ltd. appreciating that these sections have no application whatsoever to the facts of the present case and further that these

DCIT 4(1), MUMBAI vs. HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P.LTD, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

Gains. 3.1.7. On the facts and in the circumstances of the case and in law, the Hon'ble DRP erred in making wrong references to section 47(iv), (v) and (vid) without M/s HSBC Securities and Capital Markets (India) Pvt. Ltd. appreciating that these sections have no application whatsoever to the facts of the present case and further that these

M/S.OIL TOOLS INTERNATIONAL SERVICES PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 15(2)(2), MUMBAI

In the result, the Ground No

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Oil Tools International V. Acit -15(2)(2) Services Pvt. Ltd., Room No. 357, 3Rd Floor Village Kharsundi, Post Kharsundi Aayakar Bhavan, M.K. Road Tal. Khalapur, Dist. Raigad - 410202 Mumbai - 400020 Pan: Aaaco7232M (Appellant) (Respondent) Assessee Represented By : Shri Poojan Mehta Department Represented By : Shri Hiren Bhatt

35A; or (iv) the amount of expenditure of a capital nature referred to in clause (ix) of subsection (1) of section 36; or 8 M/s. Oil Tools International Services Pvt. Ltd., (v) the cost of acquisition of a capital asset (not being a capital asset referred to in section 50) for the purposes of section 48, and the amount arrived

KISHORE BHAGWANDAS RAMNANI,MUMBAI vs. INTERNATIONAL TAXATION WARD-4(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Amarjit Singh, Kishore Bhagwandas Vs. Income Tax Officer-4(1)(1) Ramnani, B-406, Plot No. Air India Building, 442/444, Simla House Off Mumbai – 400021 Ld. Ruparel Marg, Parsi Mumbai – 400026 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Bcypr3697F Appellant .. Respondent

35A ought to be treated as filed on 17.10.2022 i.e. within time. 4. Without prejudice to the above, the Dispute Resolution Panel erred in dismissing the objections filed by the Appellant on technical grounds and without issuing any directions on the merits of the matter. 5. Rs. 17,88,000/- disallowed as per order under section 143(3) r.w.s. 144C

MIRAE ASSET CAPITAL MARKETS (INDIA) PRIVATE LIMITED,MUMBAI vs. INCOME TAX OFFICER, WARD 4(3)(1), MUMBAI, MUMBAI

The appeal of the assessee is allowed

Bench: Shri Amit Shukla, Jm& Ms Padmavathy S, Am

gain from Securities held as other than stock in trade is disclosed separately. Accordingly in our view, the real nature of the MTM loss of the above two securities which as per the claim of the assessee is an allowable deduction needs to be factually examined. Therefore we are remitting the issue back to the AO with a direction

DEEPALI KIRAN POTNIS,KALYAN vs. ITO. INT. TAX, WARD-3(3)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

capital gains at Rs.1,40,11,919/- and accordingly made addition of Rs.69,11,913/-. 5. Following chronology of events are relevant for deciding the legal contention raised by the assessee. (a) Draft assessment order passed by the AO on 17-09-2021 (b) Final assessment order passed by the AO on 15.11.2021 under the impression that the assessee

BRIDGE INDIA FUND,NEW DELHI vs. ACIT (INT TAX) CIRCLE-1(3)(2), MUMBAI

In the result ITA number 457/M/2023 for assessment year 2014 – 15 is partly allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

capital gain arising to the resident of Mauritius from trading in shares of the listed Indian entities. vii Thereafter the learned dispute resolution panel on 29/12/2022 issued direction under section 144C (5) of the act mentioning the dates of hearing 21/10/2022 and 01/11/2022. In the directions the learned dispute resolution panel has specifically mentioned at paragraph number 3 that

BRIDGE INDIA FUND,NEW DELHI vs. ACIT (INT TAX) CIRCLE-1(3)(2), MUMBAI

In the result ITA number 457/M/2023 for assessment year 2014 – 15 is partly allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

capital gain arising to the resident of Mauritius from trading in shares of the listed Indian entities. vii Thereafter the learned dispute resolution panel on 29/12/2022 issued direction under section 144C (5) of the act mentioning the dates of hearing 21/10/2022 and 01/11/2022. In the directions the learned dispute resolution panel has specifically mentioned at paragraph number 3 that

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CC 1(4), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

capital assets acquired and used for the purpose of corporate social responsibility 6. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in not allowing full credit of TDS/TCS claimed on the basis of certificates filed by the appellant Company. Additional Grounds of appeal 7. On the facts

DY CIT CC 1(4), MUMBAI vs. M/S ULTRATECH CEMENT LTD , MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

capital assets acquired and used for the purpose of corporate social responsibility 6. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in not allowing full credit of TDS/TCS claimed on the basis of certificates filed by the appellant Company. Additional Grounds of appeal 7. On the facts

ACIT - 2(2)(2), MUMBAI vs. YES BANK LIMITED, MUMBAI

Capital Gains'.\nReliance is placed on various case laws filed in LPB at Pg. no. 1-217\nunder Proposition 3 including the decision of Hon'ble Tribunal in\nAssessee's own case for AY 2008-09 (LPB Pg.\nNo. 3, Para 6). Out of the above decisions, special attention of the\nHon'ble Bench was drawn at the time

YES BANK LTD.,,MUMBAI vs. DCIT(2)(2)(2), MUMBAI

gains from business and\nprofession. What happens is that, in the process, when the shares are\nheld as „stock-in-trade, certain dividend is also earned, though\nincidentally, which is also an income. However by virtue of Section 10(34)\nof the Act, this dividend income is not to be included in the total income\nand is exempt from