THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(4), MUMBAI vs. SHRI NARENDRA GEHLAUT, MUMBAI

In the result, the appeal filed by the Revenue is partly allowed e appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2017-18 The Dy. Cit, Central Circle-6(4), Shri Narendra Gehlaut, Room No. 1925, 19Th Floor, Air 875, Sector – 17B, Gurgaon, India Building, Nariman Point, Vs. Haryana, 122 001. Mumbai-400021. Pan No. Aazpg 9630 K Appellant Respondent

capital gain? " 3. "On the facts and in the circumstances of the case, "On the facts and in the circumstances of the case, "On the facts and in the circumstances of the case, whether the learned CIT(A) was justified in holding whether the learned CIT(A) was justified in h whether the learned CIT(A) was justified

TATA MOTORS LTD,MUMBAI vs. DCIT LTU 2, MUMBAI

In the result, appeal of the assessee is allowed

Gains of Business or Profession" as provided u/s. 71 of the Act. 7.22. In light of the above discussion on the provisions of the Act, we submit that sub-section (2) to section 115BBD of the Act only provides that no deduction of any expenditure or allowance shall be allowed while computing foreign dividend income and working out tax thereon

ACIT-5(1)(1), MUMBAI vs. M/S. ESSAR SHIPPING LTD., MUMBAI

In the result, the appeal of the Revenue is allowed partly for In the result, the appeal of the Revenue is allowed partly for In the result, the appeal of the Revenue is allowed partly for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2014-15 Acit Circle 5(1)(1), M/S Essar Shipping Ltd., R. No. 568, Aayakar Bhavan, Essar House, 11, K K Marg, Vs. M.K. Road, Mumbai-400020. Mahalaxmi, Mumbai-400034. Pan No. Aacce 3707 D Appellant Respondent

capital gains. Thus, section 71 provides set gains. Thus, section 71 provides set-off of business loss off of business loss even from ‘income even from ‘income from other sources’ including dividend from other sources’ including dividend income. It does not provide any restriction on set income. It does not provide any restriction on set income. It does not provide

MRS SUNITA SHYAM MALPANI,MUMBAI vs. INCOME TAX OFFICER, WARD 25(1)(3), MUMBAI

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

Bench: Shri Pavan Kumar Gadalesunita Shyam Malpani, Vs. Ito 25(1)(3), 701,Plot No.117, Room No.703, Karanapartment, Kautilyabhavan, Lokhandwalacomplex, Bandra Bkc, Andheri (W), Mumbai-400051. Mumbai-400053. "थायी लेखा सं./जीआइआर सं.Pan/Gir No.Acppm8552J (अपीलाथ"/Applicant) (""यथ"/Respondent)

capital gain. The Ld. A/R has filed all the possible documentary evidence relating to purchase and sale of the stock on which the LTCG was earned. All the details are filed in assessee’s Paper Book and the same were filed before the Ld. AO. The details filed are as under: S.No. Particulars Paper Book Page No. 1. Copy

PUSHPA GOEL,MUMBAI vs. ACIT CEN CIR 10, MUMBAI

Accordingly, the Ground No. 1 is dismissed

Bench: Shri P.K. Bansal & Shri Pawan Singh: (A.Y : 2010-11)

capital gain at Rs.55,37,260/-, i.e., 69% of Rs.80,25,015/-. We noted that during the course of search, a document was seized in the premises of RSSIPL and as per the said document, copy of which is placed at pg. 1, a sum of Rs.46,00,000/- has been shown to have been paid in cash in respect

PRAYAS K. GOEL,MUMBAI vs. DCIT CEN CIR 10, MUMBAI

Accordingly, the Ground No. 1 is dismissed

Bench: Shri P.K. Bansal & Shri Pawan Singh: (A.Y : 2010-11)

capital gain at Rs.55,37,260/-, i.e., 69% of Rs.80,25,015/-. We noted that during the course of search, a document was seized in the premises of RSSIPL and as per the said document, copy of which is placed at pg. 1, a sum of Rs.46,00,000/- has been shown to have been paid in cash in respect

PRERAK K. GOEL,MUMBAI vs. ACIT CEN CIR 10, MUMBAI

Accordingly, the Ground No. 1 is dismissed

Bench: Shri P.K. Bansal & Shri Pawan Singh: (A.Y : 2010-11)

capital gain at Rs.55,37,260/-, i.e., 69% of Rs.80,25,015/-. We noted that during the course of search, a document was seized in the premises of RSSIPL and as per the said document, copy of which is placed at pg. 1, a sum of Rs.46,00,000/- has been shown to have been paid in cash in respect

KAMLESH GOEL (HUF),MUMBAI vs. DCIT CC 10, MUMBAI

Accordingly, the Ground No. 1 is dismissed

Bench: Shri P.K. Bansal & Shri Pawan Singh: (A.Y : 2010-11)

capital gain at Rs.55,37,260/-, i.e., 69% of Rs.80,25,015/-. We noted that during the course of search, a document was seized in the premises of RSSIPL and as per the said document, copy of which is placed at pg. 1, a sum of Rs.46,00,000/- has been shown to have been paid in cash in respect

SYNCHEM CHEMICALS (INDIA) P.LTD,MUMBAI vs. DCIT 10(1), MUMBAI

In the result, the appeal of the revenue is dismissed and appeal of the assessee is allowed

section 115JB of the Act have an overriding effect over other provisions of the Act. But where a particular receipt from its inception is not at all income such as capital receipt as is present in the instant case, then, the said capital receipt would be outside the scope of inclusion as book profits u/s.115JB

ACIT CEN CIR 13, MUMBAI vs. 'A' STAR EXPORTS, MUMBAI

In the result, both appeals of the revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.4411/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S ‘A’ Star Exports, No.1103, 11Th Floor Old Cgo 114/116, Mittal Court, C- Wing, 11Th Floor, Nariman Building (Annex.) M.K.Road, Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabfv 4508 K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.4412/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Diamonds No.1103, 11Th Floor Old Cgo International Pvt. Ltd., Building (Annex.) M.K.Road, 114, Mittal Court, C- Wing, 11Th Floor, Nariman Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacp 4726 H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

69B of the Act in two manners. The appellant may either sell the investment as such and declare gains or losses in sale transaction under the head capital gains or the appellant may carry out the business activity out of the investment. The appellant can convert the investment to stock in trade as provided

ACIT CEN CIR 13, MUMBAI vs. ASIAN STAR DIAMONDS ITERNATIONAL P.LTD, MUMBAI

In the result, both appeals of the revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.4411/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S ‘A’ Star Exports, No.1103, 11Th Floor Old Cgo 114/116, Mittal Court, C- Wing, 11Th Floor, Nariman Building (Annex.) M.K.Road, Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabfv 4508 K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.4412/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Diamonds No.1103, 11Th Floor Old Cgo International Pvt. Ltd., Building (Annex.) M.K.Road, 114, Mittal Court, C- Wing, 11Th Floor, Nariman Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacp 4726 H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

69B of the Act in two manners. The appellant may either sell the investment as such and declare gains or losses in sale transaction under the head capital gains or the appellant may carry out the business activity out of the investment. The appellant can convert the investment to stock in trade as provided

ABALABBA DEVELOPERS PRIVATE LIMITED,MUMBAI vs. ITO-12(1)(1), MUMBAI

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

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

69B without giving any finding as to how the said Sections were applicable to the facts of the Appellant's case. 4) Both the lower authorities erred in ignoring decisions of the High Courts led before them. 5) Both the lower authorities erred in ignoring the fact that under a Family Settlement, there is no transfer of property. 6) Having

TATA MOTORS LTD,MUMBAI vs. DCIT LTU 2, MUMBAI

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 3424/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2013-14)

capital of the company." 4.13. The above section clearly provides that where the total income of the assessee includes income by way of dividend declared, distributed or paid by a specified foreign company, then such dividend income shall be. subject to tax at 15% (plus applicable surcharge, and cess) and balance part of total income., i.e. as reduced by above

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-5(4), MUMBAI vs. SHRI YOGENDRA KANODIA, MUMBAI

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyalacit-Cc-5(4), Vs. Mrs.Rashmiyogendra Room No.1924,19Th Kanodia(Legal Heir Of Floor, Air Late Shri Yogendra Indiabuilding, Surajmal Kanodia) Nariman Point, 1 St Floor,Samudra Mumbai-400021. Tarang, Keluskarroad, Northshivajipark,Dadar, Mumbai-400028. Pan/Gir No. : Aadpk4863A Appellant .. Respondent

Capital gains and other sources No income from business or profession is ever earned by the assessee any time during the year under consideration as well in any of the earlier years. This can be substantiated by referring the computation of total income for the year under consideration as well of the earlier years. Mrs.Rashmi Yogendra Kanodia (legal heir

RITESH AGGARWAL,MUMBAI vs. ITO - 16(3)(3), MUMBAI

In the result the appeal of the assessee is partly allowed for In the result the appeal of the assessee is partly allowed for In the result the appeal of the assessee is partly allowed for statisti...

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant () Assessment Year: 2016-17 Mr. Ritesh Aggarwal, Ito-16(3)(3), D 704, Imperial Heights Best Colony Aayakar Bhavan, Maharshi Road, Goregaon West, Opp. Vs. Karve Road, New Marine Lines, Goregaon Fire Bridge, Mumbai-400020. Mumbai-400104. Pan No. Aadpa 6828 R Appellant Respondent

capital gain. The agreement was still pending and as he was not interested to The agreement was still pending and as he was not interested to The agreement was still pending and as he was not interested to invest more on that flat, stamp duty for same was not paid. It was invest more on that flat, stamp duty

KAMAL VYAS ,MUMBAI vs. PR. CIT - 17, MUMBAI

In the result, this appeal stand allowed

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

69B, Section 69C or Section 69D, if such income is not covered under clause (a). Such tax rate of 60% will be further increased by 25% surcharge, 6% penalty, i.e., the final tax rate comes out to be 83.25% (including cess). Provided that such 6% penalty shall not be levied when the income under Section 68, 69, etc., has been

POOJA MARKETING,MUMBAI vs. PR. CIT- 31 , MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Us, The Core Issues To Be Decided Are As Under:-

69B or 69C or 69D of the Act. In a subsequent Circular No. 11/2019 dated 19.6.2019, the CBDT further provided a clarification that an assessee is entitled to claim set-off of loss against income determined u/s. 115BBE of the Act till the Asst Year 2016-17. (xiv) The ld AR further submitted that Section 112 of the Act which

MRS. SUPREET KAUR NAGI,MUMBAI vs. ACIT CC 20, MUMBAI

In the result ground number 9 of the appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

Section 69B of the Act. The learned CIT(A) confirmed the action of the learned Assessing Officer. 57. Similarly, on the backside of the same paper there is a mentioned of fixed deposit amounting to ₹10,05,000/- and the learned Assessing Officer also made the addition of the same which was also confirmed by the learned

MRS. SPUREET KAUR NAGI,MUMBAI vs. ACIT CC-20, MUMBAI

In the result ground number 9 of the appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

Section 69B of the Act. The learned CIT(A) confirmed the action of the learned Assessing Officer. 57. Similarly, on the backside of the same paper there is a mentioned of fixed deposit amounting to ₹10,05,000/- and the learned Assessing Officer also made the addition of the same which was also confirmed by the learned