LIC HOUSING FINANCE LIMITED,MUMBAI vs. ACIT 2(2)(1), MUMBAI, AAYKAR BHAVAN, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2017-18

capital gain or the head profits and gains from business was a subject matter of consideration by the business was a subject matter of consideration by the business was a subject matter of consideration by the Assessing sing sing Officer Officer Officer during during during the the the original original original assessment assessment assessment proceedings leading to an order dated

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 6(1)(1), MAHARASHTRA

capital gains on equity shares. The CIT(A) upheld the said addition and rejected the contention that the same was assessable under a different head. The CIT(A) directed the Assessing Officer to verify and allow correct credit of tax deducted at source and treated the levy of interest under sections 234B and 234C as consequential.\n10. Aggrieved

SAVITA OIL TECHNOLOGIES LTD,MUMBAI vs. ACIT, CC-8(4), MUMBAI

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

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.1258/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Savita Oil Technologies बिधम/ Acit, Central Circle-8(4) Ltd. Room No. 659, Aayakar Vs. 66/67, Nariman Bhavan, Bhavan, M. K. Road, Nariman Point, Mumbai- New Marine Line, 400021. Mumbai-400020. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaafs3513J (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Yogesh Thar/Chaitanya Joshi Revenue By: Shri Ram Krishna Kedia (Sr. Ar) Shri Virabhadra Mahanjan (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 04/07/2023/ (20/10/2023) घोषणा की तारीख /Date Of Pronouncement: 25/10/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax-50, Mumbai Dated 24.02.2023 For Assessment Year 2017-18. 2. The First Ground Of Appeal Of The Assessee Is As Under: - “1(A) The Appellant Submits That The Learned Commissioner Of Income-Tax (Appeals) [(“Cit(A)”)] Erred In Not Allowing The Claim Towards Expenditure On Account Of Gratuity Representing Amount Actual Paid To An Approved Gratuity Fund Of Rs.83,69,981/- Representing Employer'S Contribution. (B) The Appellant Submits That Cit(A) Failed To Appreciate That The Aforesaid Amount Of Rs.83,69,981/- Was Paid On Or Before The Due Date For Filing Its Return Of Income For Assessment Year 2017-18 To An Approved Gratuity Fund

capital borrowed for the purposes of the business or profession: (v) any sum paid by the assessee as an employer by way of contribution towards an approved gratuity fund created by him for the exclusive benefit of his employees under an irrevocable trust.” 7. Section 43B of the Act which reads as under: - Certain deductions to be only on actual

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE 6(1)(1), MAHARASHTRA

capital gains on equity\nshares. The CIT(A) upheld the said addition and rejected the\ncontention that the same was assessable under a different head.\nThe CIT(A) directed the Assessing Officer to verify and allow\ncorrect credit of tax deducted at source and treated the levy of\ninterest under sections 234B and 234C as consequential.\n10. Aggrieved

JEWELEX INDIA PRIAVTE LIMITED,MUMBAI vs. DCIT CIRCLE-14(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarjewelex India Private V/S. Deputy Commissioner Of Limited बनाम Income Tax, Circle – 401 Trade Centre, Bandra 14(1)(1), Aayakar Bhavan, Kurla Complex, Bandra Maharishi Karve Marg, (East), Mumbai – 400 098, Mumbai – 400 020, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcj4523H Appellant/अपीलार्थी .. Respondent/प्रतिवादी

iv) Allegis Services (India) Pvt. Ltd. (ITA No. 1693 /Bang/ 2019) Ld. Counsel further submitted that if the intention was to deny deduction of CSR expenses under section 80G, appropriate amendments on lines of section 37(1) should also have been made under section 80G of the Act. In the absence of any such amendment, CSR expenses should

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX- CIRCLE 6 (1)(1), MAHARASHTRA

capital gains on equity\nshares. The CIT(A) upheld the said addition and rejected the\ncontention that the same was assessable under a different head.\nThe CIT(A) directed the Assessing Officer to verify and allow\ncorrect credit of tax deducted at source and treated the levy of\ninterest under sections 234B and 234C as consequential.\n10. Aggrieved

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1, THANE, ASHAR IT PART, WAGLE INDUSTRIAL ESTATE, THANE WEST vs. MAHYCO MONSANTO BIOTECH (INDIA) PRIVATE LIMITED, SANDOZBAUGH SO THANE

In the result, the Cross appeal of the assessee is partly allowed

iv)\nof the act. During the year it gave donation of Rs.4,64,16,825/- to various\nsocieties, foundation and trusts approved under section 80G of the Act.\nHence, 50% of the contribution made to such societies/ trusts was claimed as a\ndeduction under section 80G of the Act. Under the Income-tax Act, only if\npayment made towards

MAHANSARIA ENTERPRISES PVT LTD,MUMBAI vs. PR. CIT, MUMBAI-5, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Vikram Singh Yadav & Shri Rahul Chaudharyassessment Year : 2020-21 Mahansaria Enterprises Private The Principal Commissioner Of Limited, Income Tax (Pcit), 301-304, 3Rd Floor, Vs. Room No. 515, 5Th Floor, Peninsula Chambers, Aayakar Bhavan, Peninsula Corporate Park, Maharshi Karve Road, G.K. Marg, Lower Parel West, Mumbai-400020 Mumbai-400026 Pan : Aaacy1568L (Appellant) (Respondent) For Assessee : Shri Vipul Joshi, Adv. & Prashant Bhumare For Revenue : Shri Satyaprakash R. Singh, Cit-Dr Date Of Hearing : 14-05-2025 Date Of Pronouncement : 11-06-2025 O R D E R Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Principal Commissioner Of Income Tax, Mumbai-5 [„Ld.Pcit‟] U/S. 263 Of The Income Tax Act, 1961 („The Act‟), Dated 17-03-2025, Pertaining To Assessment Year (Ay) 2020-21, Wherein The Assessee Has Taken The Following Grounds Of Appeal:

iv. FDC Ltd. v/s. PCIT [(2023) 157 Taxmann.com 387 (Mum.)] v. Societe Generale Securities India (P.) Ltd. vs. PCIT [(2023) 157 taxmann.com 533 (Mum - Trib)] vi. Synergia Lifesciences Pvt. Ltd vs. DCIT [(I.T.A. No 938/Mum/2023)] vii. Sikka Ports & Terminals Limited vs. PCIT [(Ι.Τ.Α. No 1865/Mum/2024)] viii. Worley Services India Pvt Ltd. vs. PCIT [(I.T.A. No 554/Mum/2024)] ix. Sequel

DY. COMMISSIONER O INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST(SHIRDI), MUMBAI

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

iv) to give aids to the poor and deserving at Shirdi provided donations are received" Specifically in that behalf (and for no other purpose) and also to give necessary assistance inclusive of financial help to the poor and deserving institute at Shirdi elsewhere" 22. It is noted that amongst the several objects of the assessee Trust, one of the objects

DY. COMMISSIONER O INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST(SHIRDI), MUMBAI

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

iv) to give aids to the poor and deserving at Shirdi provided donations are received" Specifically in that behalf (and for no other purpose) and also to give necessary assistance inclusive of financial help to the poor and deserving institute at Shirdi elsewhere" 22. It is noted that amongst the several objects of the assessee Trust, one of the objects

DY. COMMISSIONER OF INCOME TAX (EXEMPTION) 2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST (SHIRDI), MUMBAI

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

iv) to give aids to the poor and deserving at Shirdi provided donations are received" Specifically in that behalf (and for no other purpose) and also to give necessary assistance inclusive of financial help to the poor and deserving institute at Shirdi elsewhere" 22. It is noted that amongst the several objects of the assessee Trust, one of the objects

SHREE SAI BABA SANSTHAN TRUST (SHIRDI),MUMBAI vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION) 2(1), MUMBAI

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

iv) to give aids to the poor and deserving at Shirdi provided donations are received" Specifically in that behalf (and for no other purpose) and also to give necessary assistance inclusive of financial help to the poor and deserving institute at Shirdi elsewhere" 22. It is noted that amongst the several objects of the assessee Trust, one of the objects

M/S LIFE INSURANCE CORPORATION OF INDIA,MUMBAI-400021 vs. DY COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

Appeal is disposed off as being partly allowed

Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) ITA. Nos. 927,957, 983,1021, 1074 & 1339/Mum/2022 Assessment Years: 2012-2013, 2018-19 & 2019-20 Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income

ACIT-3(3)(1), MUMBAI, MUMBAI vs. SIKKA PORTS AND TERMINALS LIMITED, MUMBAI

Accordingly the grounds raised by the revenue contending these two issues are dismissed

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

IV, Room No. 522, Aayakar Bhavan, M.K. Road, Mumbai-400020. Vs. 222, Nariman Point, Mumbai-400021. PAN: AABCR3878B Appellant) : Respondent) Appellant /Assessee by : Shri Nimesh Vora & Moksha Mehta, AR Revenue / Respondent by : Shri Dr. Kishor Dhule, CIT-DR Date of Hearing : 12.12.2024 Date of Pronouncement : 30.12.2024 O R D E R Per Padmavathy S, AM: These appeals by the Revenue

DCIT 3(3)(1), MUMBAI vs. SIKKA PORTS AND TERMINAL LIMITED, MUMBAI

Accordingly the grounds raised by the revenue contending these two issues are dismissed

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

IV, Room No. 522, Aayakar Bhavan, M.K. Road, Mumbai-400020. Vs. 222, Nariman Point, Mumbai-400021. PAN: AABCR3878B Appellant) : Respondent) Appellant /Assessee by : Shri Nimesh Vora & Moksha Mehta, AR Revenue / Respondent by : Shri Dr. Kishor Dhule, CIT-DR Date of Hearing : 12.12.2024 Date of Pronouncement : 30.12.2024 O R D E R Per Padmavathy S, AM: These appeals by the Revenue

ACIT, CIRCLE - 3 3 1, MUMBAI vs. JAMNAGAR UTILITIES AND POWER PVT LTD, MUMBAI

In the result, both the appeals of the Revenue are allowed\npartly

capital, employer contribution to provident fund, gratuity\nand payment of security transaction tax,\nIncome Tax Act, under section 80G, forming part of Chapter VIA,\nprovides for deductions for computing taxable income as under:\nSection 80G(2) provides for sums expended by an assessee as\ndonations against which deduction is available.\na) Certain donations, give_100% deduction, without any qualifying\nlimit

ACIT, CIRCLE - 3 3 1, MUMBAI vs. JAMNAGAR UTILITIES AND POWER PVT LTD, MUMBAI

In the result, both the appeals of the Revenue are allowed\npartly

capital, employer contribution to provident fund, gratuity\nand payment of security transaction tax,\nIncome Tax Act, under Section 80G, forming part of Chapter VIA,\nprovides for deductions for computing taxable income as under:\nSection 80G(2) provides for sums expended by an assessee as\ndonations against which deduction is available.\na) Certain donations, give_100% deduction, without any qualifying\nlimit

GOLDMAN SACHS (INDIA) SECURITEIS PRIVATE LIMITED,MUMBAI vs. ADD/JT/DY/ASST/CIT/ITO/NFAC, DELHI

capital expenditure. Apart from the decisions rendered by the\nTribunal in assessee's own case, the assessee also placed reliance upon the\ndecision of the special bench of the Tribunal in Biocon Ltd. v/s DCIT (ITA No.\n248/Bang/2010).\n6.\nThe Assessing Officer (“AO\") vide draft assessment order dated\n27/04/2021 passed under section 143(3) read with section 144C