ITO 20(2)(3), MUMBAI vs. KARAN R. SHAH, MUMBAI

Bench: Hon’Ble Shri R. C. Sharma, Am & Hon’Ble Sh. Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 3652 & 4290/Mum/2015 (निर्धारणवर्ा / Assessment Year: 2010-11 & 2009-10)

40A(2)(b) only such excessive and unreasonable expenditure paid to specified person is disallowable. Therefore, Ld. CIT(A) correctly confirmed the additions to 20% of alleged disallowance. No new facts or contrary judgments have been brought on record before us in order to controvert or rebut the findings so recorded by Ld. CIT(A). Therefore, there are no reasons

ACIT 4(2)(2), MUMBAI vs. GOPALDAS VISRAM & CO. LTD, MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

DCIT 4(2), MUMBAI vs. GOPALDAS VISRAM & CO. LTD, MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

ACIT 4(2)(2), MUMBAI vs. GOPALDAS VISRAM & CO. LTD, MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

GOPALDAS VISRAM & CO. LTD,MUMBAI vs. ACIT 4(2)(2), MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

ACIT 4(2)(2), MUMBAI vs. GOPALDAS VISRAM & CO. LTD, MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

ACIT 4(2)(2), MUMBAI vs. GOPALDAS VISRAM & CO. LTD, MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

GOPALDAS VISRAM & CO. LTD,MUMBAI vs. DCIT 4(2)(2), MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

GOPALDAS VISRAM & CO. LTD,MUMBAI vs. DCIT 4(2), MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

GOPALDAS VISRAM & CO. LTD,MUMBAI vs. DCIT 4(2), MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

GOPALDAS VISRAM & CO. LTD,MUMBAI vs. ADDL CIT 4(2), MUMBAI

Appeals are disposed off accordingly

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am

condoned it would be against the principle of natural justice which is not the intent of legislation. We also find that the reasons for delay advanced by the ld. DR are good, genuine and reasonable and hence we accept the same by admitting these appeals for adjudication. 5. Since the issues agitated in all these appeals filed by the assessee

IQBAL AHMAED KHALIL AHMED SUBEDAR,MUMBAI vs. ITO 22(1)(2), MUMBAI

In the result, the appeal of the assessee for the A

Bench: Shri C.N Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 2135/Mum/2013 (नििाारण वर्ा / Assessment Year : 2009-10 ) आयकर अपीऱ सं./I.T.A. No.4896/Mum/2015 (नििाारण वर्ा / Assessment Year : 2008-09)

condonation of delay of 123 days in filing this appeal late by the assessee beyond the time stipulated u/s 253(3). We admit this appeal in ITA no. 4896/Mum/2015 for AY 2008-09 which was filed late by the assesee by 123 days than the time prescribed u/s 253(3). We order accordingly. Appeal No. ITA no. 2135/Mum/2013-Assessment Year

IQBAL AHMED KHALILAMED SUBEDAR,MUMBAI vs. ITO 22(1)(2), NAVI MUMBAI

In the result, the appeal of the assessee for the A

Bench: Shri C.N Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 2135/Mum/2013 (नििाारण वर्ा / Assessment Year : 2009-10 ) आयकर अपीऱ सं./I.T.A. No.4896/Mum/2015 (नििाारण वर्ा / Assessment Year : 2008-09)

condonation of delay of 123 days in filing this appeal late by the assessee beyond the time stipulated u/s 253(3). We admit this appeal in ITA no. 4896/Mum/2015 for AY 2008-09 which was filed late by the assesee by 123 days than the time prescribed u/s 253(3). We order accordingly. Appeal No. ITA no. 2135/Mum/2013-Assessment Year

ITO 5(1)(3), MUMBAI vs. DEVYANG REALTY HOLDINGS P.LTD, MUMBAI

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

Bench: Shri B.R. Baskaran (Am)& Ravish Sood (Jm)

b) of the Act. The AO noticed that the assessee company does not have any employees and its directors were residing in Goa. Hence the AO asked the assessee to furnish the details of business activities carried on by it. He also asked the assessee to justify the payment in terms of sec. 40A(2

ITO 30 (1) (1) , MUMBAI vs. M/S. BLOSSOM DEVELOPERS, MUMBAI

In the result, the both appeals filed by the assessee and revenue are dismissed

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadaleito 30(1)(1) Vs. M/S Blossom Room No. 436, 4Th Floor Developers Kautilya Bhavan, Bkc Survey No. 273, Village G Block, Bandra(East) Dindoshi, Pathanwadi Mumbai – 400051. Malad (E), Mumbai – 400097. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aahfb6147Q Appellant .. Respondent M/S Blossom Vs. Ito 30(1)(1) Developers Room No. 436, 4Th Survey No. 273, Village Floor Dindoshi, Pathanwadi Kautilya Bhavan, Bkc Malad (E), G Block, Bandra Mumbai – 400097. Mumbai – 400 051. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aahfb6147Q Appellant .. Respondent

condone the delay and admit the appeal. ITA No. 62 & 1152/Mum/2022 M/s Blossom Developers, Mumbai. 11. The assessee has raised the following grounds of appeal: Ground of Appeal Ground No.1 Disallowance u/s 40A(2)(a) Rs.2400000/- In the facts and circumstance of the case and in law the Learned Commissioner of Income Tax (Appeal) NFAC erred in confirming the addition

RAYMOND LTD,MUMBAI vs. ADDL CIT RG 2(3), MUMBAI

Accordingly, the same are dismissed as not pressed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleraymond Limited V. The Addl. Cit– 2(3) New Hind House Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent C.O. No. 287/Mum/2017 [Arising Out Of Ita No. 2218/Mum/2011 (A.Y. 2007-08)] The Addl. Cit– 2(3) V. Raymond Limited Aayakar Bhavan, M.K. Road New Hind House Mumbai - 400020 Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent M/S. Raymond Limited V. The Dcit – Osd- 2(3) New Hind House, Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai – 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent

40A(2)(b) of the Act to disallow substantial amount as excess payment of rent to the related concern. At the outset, we observe that the rate adopted by the Assessing Officer without there being any bench mark or basis for adopting such rate without bringing on record the market rate at that point of time. Further we observe that

RAYMOND LTD,MUMBAI vs. DCIT (OSD) RG 2(3), MUMBAI

Accordingly, the same are dismissed as not pressed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleraymond Limited V. The Addl. Cit– 2(3) New Hind House Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent C.O. No. 287/Mum/2017 [Arising Out Of Ita No. 2218/Mum/2011 (A.Y. 2007-08)] The Addl. Cit– 2(3) V. Raymond Limited Aayakar Bhavan, M.K. Road New Hind House Mumbai - 400020 Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent M/S. Raymond Limited V. The Dcit – Osd- 2(3) New Hind House, Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai – 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent

40A(2)(b) of the Act to disallow substantial amount as excess payment of rent to the related concern. At the outset, we observe that the rate adopted by the Assessing Officer without there being any bench mark or basis for adopting such rate without bringing on record the market rate at that point of time. Further we observe that

VISHNULAXMI SILK MILLS,ANDHERI EAST vs. INCOME TAX OFFICER WARD 23(3)(6) MUMBAI, LALBAUG

In the result, this ground of appeal is also allowed

Bench: Shri Pawan Singh & Shri Arun Khodpia(Physicalhearing) Vishnulaxmi Silk Mills, Income Tax Officer Building No.-6 29A, Mittal Industrial Vs Ward 23(3)(6), Piramal Chamber, Estate, Andheri, Kurla Road, Lal-Baug, Mumbai- 400012. Andheri (East), J.B. Nagar S.O, Mumbai- 400059. [Pan: Aaafv3106C]

delay in filing appeal before ld CIT(A), is condoned. Now adverting to the merits of the case. 7. We find that the assessee has basically raised two substantial grounds of appeal. First substantial ground of appeal relates to disallowance of interest expenses under section 40A(2)(b

HDFC BANK LIMITED (AS SUCCESSOR TO HOUSING DEVELOPMENT FINANCE CORPORATION LTD),MUMBAI vs. DCIT RG 1(1), MUMBAI

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

condone the delay on the ground that there was sufficient cause for the said delay. Accordingly, we take up the appeals for adjudication. Sr. No. ITA No. Assessment year Appeal by No. of days delay 1. 2980/Mum/2024 2014-15 Revenue 18 2. 2979/Mum/2024 2015-16 Revenue 18 3. 2049/Mum/2023 2016-17 Revenue 1 4. 2046/Mum/2023 2017-18 Revenue