TECHNO SHARES & STOCKS LTD,MUMBAI vs. ADDL CIT RG 4(2), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Shri G.S. Pannu() : A.Y : 2008-09

gains of business or profession, how computed.— The income referred to in section 28 shall be computed in accordance with the provisions contained in sections 30 to 43C." These sections include, inter alia, deduction of depreciation under section 32 and deduction regarding expenditure on scientific research in the manner set out in section 34. Therefore, the deductions which the Supreme

KJMC CAPITAL MARKET SERVICES LTD,MUMBAI vs. DCIT 4(3), MUMBAI

In the result, appeal and cross objections of the assessee are allowed and the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2008-09

gains of business or profession, how computed.— The income referred to in section 28 shall be computed in accordance with the provisions contained in sections 30 to 43C." These sections include, inter alia, deduction of depreciation under section 32 and deduction regarding expenditure on scientific research in the manner set out in section 34. Therefore, the deductions which the Supreme

SHIVNARAYAN NEMANI SHARES & STOCK BROKERS P. LTD.,MUMBAI vs. D.C.I.T. CIRCLE 4(2), MUMBAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm (Hearing Through Video Conferencing Mode) आयकर अपील सं/ I.T.A. No. 2522/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S. Shivnarayan Nemani बिधम/ Dcit, Circle-4(2) Shares & Stock Brokers P. Mumbai Vs. Ltd. 9/43, Bhupen Chambers, 2Nd Floor, Dalal Street Mumbai- 400023. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs3296C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mayank Chauhan (Ar) Revenue By: Shri Rohit Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 07/09/2021 घोषणा की तारीख /Date Of Pronouncement: 08/10/2021 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 20.01.2012 Passed By The Commissioner Of Income Tax (Appeals)-09, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2008-09. 2. The Assessee Has Raised The Following Grounds: - “1(A). On The Facts & In The Circumstances Of The Case & In Law, The Learned Commissioner Of Income-Tax(Appeals) Erred In Confirming The Disallowance Of Additional Amount Of Rs.2,98,258/- Under The Provisions Of Section 14A R.W.R. 8D Of The Income Tax Rules

gains of business or profession, how computed.— The income referred to in section 28 shall be computed in accordance with the provisions contained in sections 30 to 43C." ITA. No.2522/Mum/2012 A.Y. 2008-09 These sections include, inter alia, deduction of depreciation under section 32 and deduction regarding expenditure on scientific research in the manner set out in section 34. Therefore

DCIT 10(3)(2), MUMBAI vs. PHOENIX MECANO (I) PLTD, MUMBAI

In the result, appeal of the Revenue is allowed

Bench: Shri Joginder Singh, Assessment Year:2011-12

80A(1) stipulates that while computing the total income of the assessee, there shall be allowed from the gross total income, in accordance with and subject to the provisions of the chapter, the deduction specified in section 80C to 80U. Section 80B(5) defines the purposes of section VIA “gross total income” to mean the total income computed in accordance

DCIT-5(2)(1),MUMBAI, AAYAKAR BHAVAN vs. JSW STEEL COATED PRODUCTS LIMITED, MUMBAI

In the result, C.O. filed by assessee is\ndismissed as infructuous

80A(6) of the Income Tax Act, vide Finance Act, 2009?\n4. Whether on the facts and circumstances of the case and in law, the Ld.\nCIT(A)is correct in not appreciating the fact and position of law that comparability\nof the specified domestic transaction (SDT) with uncontrolled transaction has to\nbe established in terms of parameters contained

ACIT-2(1)(1), MUMBAI vs. GEECEE VENTURES LIMITED, MUMBAI

The appeal is allowed for statistical purposes

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Capital Loss of INR.16,08,703/- from the Gross Total Income of INR.9,47,60,542/- computed in the body of the Assessment Order. Further, total deduction under Chapter VIA were computed at ‘Nil’ to arrive at taxable income of INR.9,31,51,839/-. Neither the Assessment Order nor the Computation Sheet attribute the denial of deduction claimed under Section

GEECEE VENTURES LIMITED ,MUMBAI vs. DCIT, CIRCLE 2(1)(1), MUMBAI

The appeal is allowed for statistical purposes

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Capital Loss of INR.16,08,703/- from the Gross Total Income of INR.9,47,60,542/- computed in the body of the Assessment Order. Further, total deduction under Chapter VIA were computed at ‘Nil’ to arrive at taxable income of INR.9,31,51,839/-. Neither the Assessment Order nor the Computation Sheet attribute the denial of deduction claimed under Section

ACC LTD.,MUMBAI vs. DCIT(LTU) - 1, MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

capital gain is shown in the revised computation of income after considering valuation report obtained for determining fair market value of land as on 1st April 1981. The AO has not found any material information which prove that such valuation is incorrect but only on presumption that such valuation is higher, he has referred the matter to DVO. The identical

ACC LTD.,MUMBAI vs. DCIT(LTU) - 1, MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

capital gain is shown in the revised computation of income after considering valuation report obtained for determining fair market value of land as on 1st April 1981. The AO has not found any material information which prove that such valuation is incorrect but only on presumption that such valuation is higher, he has referred the matter to DVO. The identical

DCIT(LTU) - 1, MUMBAI vs. ACC LTD., MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

capital gain is shown in the revised computation of income after considering valuation report obtained for determining fair market value of land as on 1st April 1981. The AO has not found any material information which prove that such valuation is incorrect but only on presumption that such valuation is higher, he has referred the matter to DVO. The identical

DY. COMMISSIONER OF INCOME TAX 5(2)(1), MUMBAI, MUMBAI vs. JSW STEEL COATED PRODUCTS LIMITED, MUMBAI

In the result, appeal of the

Bench: Shri Pawan Singh & Shri Girish Agrawal

80A(6) of the Income Tax Act, vide Finance Act, 2009? 4. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A)is correct in not appreciating the fact and position of law that comparability of the specified domestic transaction (SDT) with uncontrolled transaction has to be established in terms of parameters contained

DCIT-2(3), MUMBAI vs. M/S. ZENSAR TECHNOLOGIES LTD., MUMBAI

In the result, the appeal is partly allowed

Bench: Amit Shukla () & Ms. Padmavathy S. ()

80A, the deduction under section 80HHE shall be allowed against the gross total income and that though the assessee had Nil business income after set off of brought forward business loss, the Assessee is having capital gains

DCIT(CC)-8(3), MUMBAI vs. JSW ENERGY LIMITED, MUMBAI

In the result the appeals filed by the revenue for assessment years under consideration stands partly allowed and cross appeals filed by the assesse stands dismissed

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

80A (6) alongwith Explanation reads as under:- “(6)[ Notwithstanding anything to the contrary contained in section 10-A or section 10-AA or section 10-B or section 10-BA or in any provisions of this Chapter under the heading "C.-Deductions in respect of certain incomes", where any goods or services held for the purposes of the undertaking

M/S. INDAGRO FOODS LTD.,MUMBAI vs. ACIT - (OSD) 2(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri N.K. Pradhan

Gain derived from an Industrial Undertaking situated in backward area/district specified in the notification, interalia, that it manufactures or produce an article of things, not being article of things specified in Eleventh Schedule. The assessee fulfilled all 4 ITA No. 7342 to 7344 Mum 2008-M/s Indagro Foods Ltd. the condition for deduction under section 80IB. The assessee

DCIT (LTU)-2, MUMBAI vs. M/S RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the ITA No

section 35(2AB) in respect of research and development expenditure by observing as follows: ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment Years: 2014-15 & 2015-16 Page 33 of 105 21.1 On perusal of the computation of income statement, it is seen that during the year under consideration the assesse company has claimed weighted deduction under section

RELIANCE INDUSTRIES LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX LARGE TAXPAYER UNIT-2, MUMBAI

In the result, the ITA No

section 35(2AB) in respect of research and development expenditure by observing as follows: ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment Years: 2014-15 & 2015-16 Page 33 of 105 21.1 On perusal of the computation of income statement, it is seen that during the year under consideration the assesse company has claimed weighted deduction under section

RELIANCE INDUSTRIES LIMITED,MUMBAI vs. ACIT , MUMBAI

In the result, the ITA No

section 35(2AB) in respect of research and development expenditure by observing as follows: ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment Years: 2014-15 & 2015-16 Page 33 of 105 21.1 On perusal of the computation of income statement, it is seen that during the year under consideration the assesse company has claimed weighted deduction under section

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 asset, being share of a special purpose vehicle to a business trust in exchange of units allotted by that trust referred to in clause (xvii) of section 47; or (B) notional gain resulting from any change in carrying amount of said units; or (C) gain on transfer of units referred to in clause (xvii) of section