JCIT(OSD) CIRCLE 2(3)(1), MUMBAI vs. HDFC BANK LIMITED, MUMBAI

In the result, both the above stated appeals of the\nassessee in ITA No

14A applying Rule 8D(2)(ii) and has not\nrestricted the disallowance to the exempt income. The same can be\nevidenced from the tabulation provided hereunder:\n|\n| A.Y.\n| Amount disallowed by CIT(A)\n(in Rs.)\n| Amount of exempt income\nearned by the Assessee Bank

JCIT OSD CIRCLE 2(3)(1), MUMBAI, MUMBAI vs. HDFC BANK LIMITED, MUMBAI

In the result, both the above stated appeals of the\nassessee in ITA No

14A applying Rule 8D(2)(ii) and has not\nrestricted the disallowance to the exempt income. The same can be\nevidenced from the tabulation provided hereunder:\nA.Y.\nAmount disallowed by CIT(A)\n(in Rs.)\n28,45,08,751\nAmount of exempt income\nearned by the Assessee Bank (in\nRs.)\n612,36,54,955\n2019-\n20\n2020-\n21\nDirected

JCIT(OSD) CIRCLE 2(3)(1), MUMBAI, MUMBAI vs. HDFC BANK LIMITED, MUMBAI

In the result, both the above stated appeals of the\nassessee in ITA No

14A applying Rule 8D(2)(ii) and has not\nrestricted the disallowance to the exempt income. The same can be\nevidenced from the tabulation provided hereunder:\nPage 9\nITA No. 1555, 1573, 2258, 2259 & 2260 Mum 2025\nΑ.Υ. 2019-20, 2020-21, 2021-22\nHDFC Bank Limited, Mumbai\nA.Y.\nAmount disallowed by CIT(A)\n(in Rs.)\nAmount

DCIT, MUMBAI vs. HUBTOWN LIMITED , MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

Trust which is also approved under section 80G(5)(vi) and certificate given by Director (Exemption) is found placed. Therefore, since the assessee satisfies the condition under section 80G of the donees, the assessee's claim for deduction of CSR expenses/contribution under section 80G was allowed after enquiry by the Assessing Officer. Thus, the action of the Assessing Officer allowing

HUBTOWN LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(4), MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

Trust which is also approved under section 80G(5)(vi) and certificate given by Director (Exemption) is found placed. Therefore, since the assessee satisfies the condition under section 80G of the donees, the assessee's claim for deduction of CSR expenses/contribution under section 80G was allowed after enquiry by the Assessing Officer. Thus, the action of the Assessing Officer allowing

RELIANCE RETAIL LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 8(1)(1), MUMBAI

In the result, the appeal filed by the Revenue is dismissed,\nwhereas the appeal filed by the assessee is partly allowed

14A read with Rule 8D. Accordingly, Ground No. 2\nraised by the Revenue is dismissed.\nGround No. 4: Write-back of creditors\n32. In respect of deletion of addition made by the Assessing\nOfficer, the learned DR relied upon the findings of the Assessing\nOfficer and submitted that the assessee had written back sundry\ncreditors amounting

ACIT-6(1)(1), MUMBAI, MUMBAI vs. ADITYA BIRLA SUN LIFE AMC LTD., MUMBAI

In the result, the appeal by the Revenue is partly allowed

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhailaditya Birla Sun Life Amc Ltd., Tower 1, Jupiter Mill Compound, 17Th Floor, One World Center, 841, Senapati Bapat Marg, ............... Appellant Mumbai - 400013 Pan : Aaacb6134D V/S

charitable trust for which the assessee has claimed 50% of the total donation paid as deduction u/s. 80G of the Act. Prior to the Finance (No.2) Act, 2014, the said expenditure was claimed as 'business expenditure' u/s. 37(1) of the Act where after the insertion of Explanation 2 to section 37(1) of the Act, the CSR expenses referred

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. RELIANCE RETAIL LIMITED, MUMBAI

In the result, the appeal filed by the Revenue is dismissed, whereas the appeal filed by the assessee is partly allowed

Bench: SHRI SAKTIJIT DEY (Vice President), SHRI MAKARAND VASANT MAHADEOKAR (Accountant Member)

14A read with Rule 8D. Accordingly, Ground No. 2 raised by the Revenue is dismissed. Ground No. 4: Write-back of creditors 32. In respect of deletion of addition made by the Assessing Officer, the learned DR relied upon the findings of the Assessing Officer and submitted that the assessee had written back sundry creditors amounting

ADITYA BIRLA SUN LIFE AMC LIMITED,MUMBAI vs. ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, NATIONAL FACELESS ASSESSMENT CENTRE (NFAC), DELHI

In the result, the appeal by the Revenue is partly allowed

charitable trust for which the assessee has claimed 50% of\nthe total donation paid as deduction u/s.80G of the Act. Prior to the Finance\n(No.2) Act, 2014, the said expenditure was claimed as 'business expenditure'\nu/s.37(1) of the Act where after the insertion of Explanation 2 to section 37(1)\nof the Act, the CSR expenses referred

BOMBAY CHAMBER OF COMMERCE AND INDUSTRY,MUMBAI vs. ITO (E) 1(1), MUMBAI

In the result, the appeals of the assessee for A

Bench: Shri M. Balaganesh, Am & Shri Pavan Kumar Gadale, Jm

trust under section 12A of the Act by order dated 22.09.1998. Upto and including the assessment year 2008-2009 the assessments were made granting exemption under section 11 of the Act. For the assessment year under consideration, the assessee filed its return of income on 30.09.2009 claiming exemption under section 11 of the Act. A copy of the computation

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

charitable trusts. Further, we find that the Hon’ble Supreme Court in the case of J. K. Synthetic Ltd. has not laid down a law that double deduction is not permissible. It only stated that the same should be expressly provided for under the Act. In the present case, admittedly Section 32 of the Act provides for allowance of depreciation

BOMBAY CHAMBER OF COMMERCE & MACKINNON MACKENZIE BUILDING,MUMBAI vs. INCOME TAX OFFICER (EXE)-1 (1) , MUMBAI

The appeal of the assessee is allowed

Bench: Sri Mahavir Singh, Vp & Sri Manoj Kumar Aggarwal, Am आमकय अऩीर िं./ Ita No. 5832/Mum/2019 (ननधाायण वर्ा / Assessment Years 2009-10) Bombay Chamber Of Commerce & The Income-Tax Officer Mackinnon Mackenzie Building, 4, (Exemptions)-1(1), फनाभ/ Room No. 508, 5 Th Floor, Shoorji Vallabhdas Marg, Ballard Estate, Mumbai-400 001 Piramal Chambers, Lalbaug, Vs. Parel, Mumbai-400 012 (अऩीराथी / Appellant) (प्रत्मथी/ Respondent) स्थामी रेखा िं./Pan No. Aabcb2270M अऩीराथी की ओय े/ Appellant By : Shri Niraj Sheth, Ar प्रत्मथी की ओय े/ Respondent By : Ms. Shreekala Pardeshi & Ms. Kavita P. Kaushik, Drs’ ुनवाई की तायीख / Date Of Hearing: 03.09.2021 घोर्णा की तायीख / Date Of Pronouncement: 30.09.2021

trust under section 12A of the Act by order dated 22.09.1998. Upto and including the assessment year 2008-2009 the assessments were made granting exemption under section 11 of the Act. For the assessment year under consideration, the assessee filed its return of income on 30.09.2009 claiming exemption under section 11 of the Act. A copy of the computation

ADDL CIT 7(2), MUMBAI vs. RELIANCE NATURAL RESOURCES LTD, NAVI MUMBAI

In the result, the appeal is allowed

Bench: Shri Jason P. Boaz & Shri Saktijit Deyreliance Natural Resources Ltd. Addl. Cit, Range 7(2) H Block, 1St Floor, Dhirubhai Room No. 620, 6Th Floor Vs. Ambani Knowledge City Aayakar Bhavan Navi Mumbai 400710 M.K. Road, Mumbai 400020 Pan - Aabcr7656P Appellant Respondent Addl. Cit, Range 7(2) Reliance Natural Resources Ltd. Room No. 620, 6Th Floor H Block, 1St Floor, Dhirubhai Vs. Aayakar Bhavan Ambani Knowledge City M.K. Road, Mumbai 400020 Navi Mumbai 400710 Pan - Aabcr7656P Appellant Respondent

14A of the Act for this year to 5% of the exempt income earned by the assessee of `49,83,071/-. Consequently, ground No. 3 of the assessee’s appeal is partly allowed. 8. Ground No. 4 - This ground being general in nature, no adjudication is called for thereon. 9. In the result, the assessee’s appeal

RELIANCE NATURAL RESOURCES LTD,NAVI MUMBAI vs. ADDL CIT RG 7(2), MUMBAI

In the result, the appeal is allowed

Bench: Shri Jason P. Boaz & Shri Saktijit Deyreliance Natural Resources Ltd. Addl. Cit, Range 7(2) H Block, 1St Floor, Dhirubhai Room No. 620, 6Th Floor Vs. Ambani Knowledge City Aayakar Bhavan Navi Mumbai 400710 M.K. Road, Mumbai 400020 Pan - Aabcr7656P Appellant Respondent Addl. Cit, Range 7(2) Reliance Natural Resources Ltd. Room No. 620, 6Th Floor H Block, 1St Floor, Dhirubhai Vs. Aayakar Bhavan Ambani Knowledge City M.K. Road, Mumbai 400020 Navi Mumbai 400710 Pan - Aabcr7656P Appellant Respondent

14A of the Act for this year to 5% of the exempt income earned by the assessee of `49,83,071/-. Consequently, ground No. 3 of the assessee’s appeal is partly allowed. 8. Ground No. 4 - This ground being general in nature, no adjudication is called for thereon. 9. In the result, the assessee’s appeal

ASST CIT CEN CIR 17 & 28, MUMBAI vs. NANDLAL TAOLANI CHARITABHLE TRUST, MUMBAI

In the result, the appeal filed by the assessee as well as the revenue is

Bench: Shri P K Bansal, Vp & Shri Pawan Singh, Jm Assessment Year : 2005-06 Asst. Cit Central Circle 17 & 28 Nandlal Tolani Charitable Trust Mumbai 10-A, Bakhtawar, Vs. Nariman Point, Mumbai 400 021

trust or institution, subject to its application for charitable purposes, for which it has been in fact formed (per its constituting charter) is exempt from tax under Chapter III (ss.10 to 13B) ofthe Act. The said income does not form part of the total income of the entity to which it arises or accrues or is received

NANDLAL TOLANI CHARITABLE TRUST,MUMBAI vs. ACIT CEN CIR 17 & 18, MUMBAI

In the result, the appeal filed by the assessee as well as the revenue is

Bench: Shri P K Bansal, Vp & Shri Pawan Singh, Jm Assessment Year : 2005-06 Asst. Cit Central Circle 17 & 28 Nandlal Tolani Charitable Trust Mumbai 10-A, Bakhtawar, Vs. Nariman Point, Mumbai 400 021

trust or institution, subject to its application for charitable purposes, for which it has been in fact formed (per its constituting charter) is exempt from tax under Chapter III (ss.10 to 13B) ofthe Act. The said income does not form part of the total income of the entity to which it arises or accrues or is received

DCIT-LTU - 2, MUMBAI vs. AMBUJA CEMENTS LTD , MUMBAI

In the result, the appeal of the revenue is dismissed

section 43(1) of the Income Tax Act,1961, needs to be interpreted liberally. Such a subsidy does not partake of the incidents which attract the conditions for its deductibility from 'actual cost'. The amount of subsidy is not to be deducted from the 'actual cost' under section 43(1) for the purpose of calculation of depreciation

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

In the result, the appeal filed by the assessee is partly allowed and appeal filed by the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.6482 /Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) State Bank Of India बिधम/ Acit Range-2(2) Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. Ita. No. 6822/Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) Acit Range-2(2) बिधम/ State Bank Of India Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs8577K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Girish Dave/Urvi Mehta Revenue By: Shri Awungshi Gimson (Dr) सुनवाई की तारीख / Date Of Hearing: 12/12/2019 घोषणा की तारीख /Date Of Pronouncement: 06/03/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue As Well As Assessee Have Filed The Above Mentioned Appeals Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-5, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000-01. Ita. No.6482/M/2010 6822/M/2010 A.Y. 2000-01 2. The Assessee Has Filed The Present Appeal Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-05, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000- 01. 3. The Assessee Has Raised The Following Grounds: -

14A is remanded back to the file of AO, with the directions to allow the assessee an opportunity to make submissions, and the AO shall pass a speaking order giving ITA. No.6482/M/2010 6822/M/2010 A.Y. 2000-01 determination on each of the propositions as per law. Thus, with these directions, the matter is restored back to the file