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

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

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

1); or (iie) the amount representing,— (A) notional gain on transfer of a 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

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

1); or (iie) the amount representing,— (A) notional gain on transfer of a 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

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

1) can only apply to and limit the amount of deduction In case of an Export House but cannot affect the eligibility of the Appellant for claiming the deduction. 2.3 in not appreciating that the Export House is entitled to a deduction under Section 80HHC as amended by Taxation Laws (Amendment) Act, 2005 since loss before export Incentives

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. ()

capital gains & Income from Other Sources thereby the gross total income being positive, is entitled to claim deduction under section 80HHE. However, the Assessing Officer did not accept the contention of the assessee by holding that – “The contentions raised by the assessee are perused. The assessee's contention for allowing deduction u/s 80HHE against income from Other Sources

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

80A provides : "In computing total income of an assessee, there shall be allowed from his gross total income, the deductions specified in sections 80C to 80U." 20 Techno Shares & Stocks Ltd. These are additional deductions. They are quite different in kind from deductions which fall under Chapter IV. Under section 80J what is provided is an additional deduction which

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

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

80A provides : "In computing total income of an assessee, there shall be allowed from his gross total income, the deductions specified in sections 80C to 80U." These are additional deductions. They are quite different in kind from deductions which fall under Chapter IV. Under section 80J what is 9 ITA No.1588/M/2012 & ors. M/s. KJMC Capital Market Services Ltd. provided

DCIT-5(2)(1),MUMBAI, AAYAKAR BHAVAN 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

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

ANUH PHARMA LIMITED ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CIRCLE -5, MUMBAI

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant ()

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively or the purposes of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". Explanation 2. - For the removal of doubts, it is hereby declared that for the purposes of sub- section (1

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3(4) , MUMBAI vs. PATEL ENGINEERING LTD, MUMBAI

Bench: Sri Mahavir Singh, Jm & G. Manjunatha, Am Patel Engineering Ltd. The Dy. Commissioner Of Sv Road, Patel Estate, Income Tax, Cc-3(4),Room Jogeshwari (W), No. 1915, 19Th Floor Air Vs. Mumbai-400102 India Building, Nariman Point, Mumbai-400 021 Appellant .. Respondent Pan No. Aaacp2567L The Dy. Commissioner Of Patel Engineering Ltd. Income Tax, Cc-3(4),Room Sv Road, Patel Estate, No. 1915, 19Th Floor Air India Vs. Jogeshwari (W), Building, Nariman Point, Mumbai-400102 Mumbai-400 021 Appellant .. Respondent

80A(2) of the act . Consequently, this ground is partly allowed.” 5. The learned AR for the assessee, at the outset submitted that the issue is squarely covered in favour of the assessee by the decision of ITAT, Mumbai bench in assessee’s own case for the earlier years, wherein the ITAT after considering the relevant facts has held that

PATEL ENGINEERING LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3(4) , MUMBAI

Bench: Sri Mahavir Singh, Jm & G. Manjunatha, Am Patel Engineering Ltd. The Dy. Commissioner Of Sv Road, Patel Estate, Income Tax, Cc-3(4),Room Jogeshwari (W), No. 1915, 19Th Floor Air Vs. Mumbai-400102 India Building, Nariman Point, Mumbai-400 021 Appellant .. Respondent Pan No. Aaacp2567L The Dy. Commissioner Of Patel Engineering Ltd. Income Tax, Cc-3(4),Room Sv Road, Patel Estate, No. 1915, 19Th Floor Air India Vs. Jogeshwari (W), Building, Nariman Point, Mumbai-400102 Mumbai-400 021 Appellant .. Respondent

80A(2) of the act . Consequently, this ground is partly allowed.” 5. The learned AR for the assessee, at the outset submitted that the issue is squarely covered in favour of the assessee by the decision of ITAT, Mumbai bench in assessee’s own case for the earlier years, wherein the ITAT after considering the relevant facts has held that

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

80A provides : "In computing total income of an assessee, there shall be allowed from his gross total income, the deductions specified in sections 80C to 80U." These are additional deductions. They are quite different in kind from deductions which fall under Chapter IV. Under section 80J what is provided is an additional deduction which is calculated as a percentage

ASST CIT (LTU) 1, MUMBAI vs. GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

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

1 to Section 115JB(2), is to be made without resorting to the computation as contemplated under section 14A r.w.r. 8D. Thus, in the light of the above decisions, ground No.2 of the appeal by the assessee is allowed.” 10. We heard the DR. The facts for year under consideration being similar, in our considered view the issue is covered

GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD),MUMBAI vs. ADDL CIT LTU, MUMBAI

In the result, appeal of the Revenue is dismissed

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

1 to Section 115JB(2), is to be made without resorting to the computation as contemplated under section 14A r.w.r. 8D. Thus, in the light of the above decisions, ground No.2 of the appeal by the assessee is allowed.” 10. We heard the DR. The facts for year under consideration being similar, in our considered view the issue is covered

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