INCOME TAX OFFICER-23(1)(2), MUMBAI vs. INDIAN CORPORATE LOAN SECURITIES TRUST 2008 SERIES 14, MUMBAI

In the result, Revenue's appeal for A

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3Rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16786P (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Iii Matru Mandir 2009 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat17440L (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Matru Mandir 2008 Series 36 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16925L (Appellant) .. (Respondent) आदेश / O R D E R Per Bench: These Appeals In Ita No.4789/Mum/2017, 4791/Mum/2017 & 4794/Mum/2017 For A.Y.2010-11 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-32, Mumbai In Appeal No.Cit(A)- 32/It-604/23(1)(2)/2015-16, Cit(A)-32/It-48/19(3)(2)/2012-13 & Cit(A)-32/It-483/Ito-19(3)(4)/12-13 Respectively Dated 24/04/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 26/02/2016, 31/10/2012 Respectively By The Ld. Income Tax Officer – 23(1)(2) & 19(3)(2) Respectively, Mumbai (Hereinafter Referred To As Ld. Ao).

Trust Deed must contain provisions that vest the power of revocation. There is nothing in the section to read that such a power should be unconditional. As mentioned earlier, the Trust Deed and the Deed of Assignment contain clauses which indicate that the power of revocation has been granted. Incidentally, we find that these principles on revocable transfer have been

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

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

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

charitable or benevolent objects or for any exhibition or for any public, general or useful object; (k) the acquisition, construction, maintenance and alteration of any building or works necessary or convenient for the purposes of the company; State Bank of India ITA no.3645/Mum./2016 ITA no.4564/Mum./2016 (l) selling, improving, managing, developing, exchanging, leasing, mortgaging, disposing of or turning into

ASST CIT CIR 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

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

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

charitable or benevolent objects or for any exhibition or for any public, general or useful object; (k) the acquisition, construction, maintenance and alteration of any building or works necessary or convenient for the purposes of the company; State Bank of India ITA no.3645/Mum./2016 ITA no.4564/Mum./2016 (l) selling, improving, managing, developing, exchanging, leasing, mortgaging, disposing of or turning into

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

Trust and Reliance Foundation is eligible spending\nwithin the meaning of section 135 r.w. rule 7 of Company's Act\n2013?\"\n5. \"Whether on the facts and in the circumstances of the case and in\nlaw, the Ld.CIT(A) has justified in deleting the addition of fair value\nadjustment on asset being redeemable preference shares(RPS) in\nbook profit, without

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

Trust and Reliance Foundation is eligible spending\nwithin the meaning of section 135 r.w. rule 7 of Company's Act\n2013?\"\n5. \"Whether on the facts and in the circumstances of the case and in\nlaw, the Ld.CIT(A) has justified in deleting the addition of fair value\nadjustment on asset being redeemable preference shares(RPS) in\nbook profit, without

DAIVADNYA SAMJONNATI PARISHAD MAHAJANWADI MANDAL ,MUMBAI vs. ITO (E)-1(2), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri S.Rifaur Rahman ( & Shripavan Kumar Gadale ()

1)(b) is not applicable to the Trust because it is not established or created for any particular religious community or caste. In this context, it was submitted that "Daiwadnya Samaj" referred to in the Trust Deed is not any religious community or caste; it refers to the people who carry on profession of "Goldsmith" across any religious community

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC-4(1), MUMBAI

In the result, appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

charitable institutions who are assessed u/s 11 to 13. In the said case the Hon’ble Orrisa High Court (2023) 151 taxmann.com 433 (Orissa) dated 06/03/2019 held that since the jurisdiction was with the AO (Exemption) on the basis of an affidavit filed by the revenue only, the notice issued u/s 143(2) of the Act by the ld.AO Corporate

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

charitable institutions who are assessed u/s 11 to 13. In the said case the Hon’ble Orrisa High Court (2023) 151 taxmann.com 433 (Orissa) dated 06/03/2019 held that since the jurisdiction was with the AO (Exemption) on the basis of an affidavit filed by the revenue only, the notice issued u/s 143(2) of the Act by the ld.AO Corporate

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

charitable institutions who are assessed u/s 11 to 13. In the said case the Hon’ble Orrisa High Court (2023) 151 taxmann.com 433 (Orissa) dated 06/03/2019 held that since the jurisdiction was with the AO (Exemption) on the basis of an affidavit filed by the revenue only, the notice issued u/s 143(2) of the Act by the ld.AO Corporate

HEMENDRA RAMJI VIRA,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

charitable institutions who are assessed u/s 11 to 13. In the said case the Hon’ble Orrisa High Court (2023) 151 taxmann.com 433 (Orissa) dated 06/03/2019 held that since the jurisdiction was with the AO (Exemption) on the basis of an affidavit filed by the revenue only, the notice issued u/s 143(2) of the Act by the ld.AO Corporate

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

charitable institutions who are assessed u/s 11 to 13. In the said case the Hon’ble Orrisa High Court (2023) 151 taxmann.com 433 (Orissa) dated 06/03/2019 held that since the jurisdiction was with the AO (Exemption) on the basis of an affidavit filed by the revenue only, the notice issued u/s 143(2) of the Act by the ld.AO Corporate

HEMENDRA RAMJI VIRA,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

charitable institutions who are assessed u/s 11 to 13. In the said case the Hon’ble Orrisa High Court (2023) 151 taxmann.com 433 (Orissa) dated 06/03/2019 held that since the jurisdiction was with the AO (Exemption) on the basis of an affidavit filed by the revenue only, the notice issued u/s 143(2) of the Act by the ld.AO Corporate

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

charitable institutions who are assessed u/s 11 to 13. In the said case the Hon’ble Orrisa High Court (2023) 151 taxmann.com 433 (Orissa) dated 06/03/2019 held that since the jurisdiction was with the AO (Exemption) on the basis of an affidavit filed by the revenue only, the notice issued u/s 143(2) of the Act by the ld.AO Corporate

NALIN VYAS (THROUGH LEGAL HEIR BRIJESH VYAS),VIRAR vs. ITO 4 (3), THANE

In the result, all the appeals of the assessee are allowed

149, section 151 and section 153, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than the person referred

NALIN VYAS (THROUGH LEGAL HEIR BRIJESH VYAS),VIRAR vs. ITO 4 (3), THANE

In the result, all the appeals of the assessee are allowed

149, section 151 and section 153, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than the person referred

NALIN VYAS (THROUGH LEGAL HEIR BRIJESH VYAS),VIRAR vs. ITO 4 (3), THANE

In the result, all the appeals of the assessee are allowed

149, section 151 and section 153, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than the person referred

NALIN VYAS (THROUGH LEGAL HEIR BRIJESH VYAS),VIRAR vs. ITO 4 (3), THANE

In the result, all the appeals of the assessee are allowed

149, section 151 and section 153, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than the person referred

NALIN VYAS (THROUGH LEGAL HEIR BRIJESH VYAS),VIRAR vs. ITO 4 (3), THANE

In the result, all the appeals of the assessee are allowed

149, section 151 and section 153, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than the person referred