DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

depreciation on Automated Tailor Machine (ATM) and 3 other computer peripherals by reclassifying as Plant & Machinery Disallowance of certain liabilities by treating as contingent liability 4 Disallowance of deduction under section 36(1)(viii) 5 Disallowance of unamortized incremental payment / contribution to 6 approved gratuity fund and payment/contribution to approved pension fund Disallowance of contribution to retired employees medical benefit

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

depreciation on Automated Tailor Machine (ATM) and 3 other computer peripherals by reclassifying as Plant & Machinery Disallowance of certain liabilities by treating as contingent liability 4 Disallowance of deduction under section 36(1)(viii) 5 Disallowance of unamortized incremental payment / contribution to 6 approved gratuity fund and payment/contribution to approved pension fund Disallowance of contribution to retired employees medical benefit

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

THERMO FISHER SCIENTIFIC INDIA PVT LTD. ,MUMBAI vs. DCIT-15(3)(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2009-10 Thermo Fisher Scientific India Dy. Cit-15(3)(1), Pvt. Ltd., Room No. 360, Aayakar Vs. 403-404, ‘B’ Wing, Delphi, Bhavan, New Marine Lines, Hiranandani Business Park, Mumbai-400020. Mumbai-400076. Pan No. Aabct 3207 A Appellant Respondent

13,06,766 Total value of Goodwill eligible for depreciation for AY Total value of Goodwill eligible for depreciation for AY 2009-10 Less: Depreciation @ 25% for the AY under (21,28,26,691) Less: Depreciation @ 25% for the AY under Less: Depreciation @ 25% for the AY under consideration Thermo Fisher Scientific India Pvt. Ltd. 8 Thermo Fisher Scientific India

SHREE PUSHKAR FOUNDATION,MUMBAI vs. INCOME TAX OFFICER (EXEMPTION)-WARD 2(30, MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2021-22 Shree Pushkar Foundation, Ito (Exemption) – Ward 2(3), 301/302, 3Rd Floor, Cumbala Hill Tele Exchange Atlanta Centre, Vs. (Mtnl), Peddar Rd, Tardeo, Near Udyog Bhavan, Mumbai-400026. Sonawala Road, Goregaon East, Mumbai-400063. Pan No. Aawts 2303 N Appellant Respondent

depreciation under section 32(1) (ii reciation under section 32(1) (ii-a) of the Act. As per the settled position of law, an assessee claiming exemption Act. As per the settled position of law, an assessee claiming exemption Act. As per the settled position of law, an assessee claiming exemption has to strictly and literally comply with the exemption

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ADDITIONAL DIRECTOR OF INCOME TAX (EXEMPTIONS) RANGE-II(NOW ASSESSED BY THE ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ADDITIONAL DIRECTOR OF INCOME TAX (EXEMPTIONS) RANGE-II(NOW ASSESSED BY THE ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

1)(a), yet depreciation would be allowed on assets so purchased. 12.4 It is also pertinent to note that vide Finance (No.2) Act, 2014, sub- section (6) was inserted in section 11 of the Act whereby it has been provided that benefits of depreciation shall not be available to any Trust/Institution registered and claiming the benefit of section

ITO (E) 1(2), MUMBAI vs. CANCER AID & RESEARCH FOUNDATION, MUMBAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2010-11 Income Tax Officer Cancer Aid & Research (Exemption)-1(2), Foundation, बनाम/ Room No.501, 5Th Floor, 10Th Floor, Bridge View, Vs. Piramal Chamber, Lalbaug, 16 Hansraj Lane, Byculla, Mumbai-400012 Mumbai-400027 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.Aaatc3013B

1)(c)(ii) and section 13(2((g) r.w.s. 13(3)(cc) of the Act., hence the A.O. has rightly disallowed the exemption u/s 11 of the Act vide orders of assessment dated 28.12.2011 and he relied upon the orders of the A.O.. 10. On the other hand, the assessee trust submitted that the BMW car is purchased

DENA BANK,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX 2, MUMBAI

In the result, appeal filed by the assesse is allowed

Bench: Shri G. Manjunatha & Shri Ravish Sooddena Bank Vs. Pcit-2 Room No.344, 3Rd Floor Accounts Department Dena Bank Building Aaykar Bhawan 2Nd Floor M.K.Road 17/B, Horniman Circle Mumbai-400 020 Fort, Mumbai-400 023 Pan/Gir No.Aaacd4249B Appellant) .. Respondent)

depreciation on value of investments and re- computation of deduction claimed u/s 36(1)(viia) and 36(1)(viii), in respect of provisions of bad debts, as well as bad debt written off. 4. Subsequently, the Ld.PCIT-2, Mumbai has issued a show cause notice u/s 263 of the I.T.Act, 1961 and called upon the assessee to explain

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

13,721,26,57,490/-. This return of income was picked up for scrutiny by issue of notice under Section 143(2) of the Act dated 17th March, 2016 and further, notice under Section 142(1) of the Act dated 6th February, 2017 and 2nd November, 2017 was issued. 04. The ld AO passed the assessment order on 12/02/2019