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

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

depreciation\npertaining to the assessment year 2009-10 for carry forward and set off in\nthe year under consideration. As a result, ground no.8.1, raised in assessee's\nappeal, is allowed for statistical purposes.\nITA No.2458/Mum/2015 (A.Y. 2010-11)\n23\n24. Grounds no.8.2-8.4 were not pressed during the hearing. Accordingly,\nthe same are dismissed as not pressed.\n25. The issue

ITO 1(2)(3), MUMBAI vs. MANGALAM DRUGS & ORGANICS LTD, MUMBAI

Appeal of the revenue is dismissed

Bench: Shri Saktijit Dey, Vp & Ms Padmavathy S, Am

depreciation and disallowance under section 14A of the Act. The revenue is in appeal before the Tribunal against the relief given by the CIT(A) towards bogus purchases. 4. The brief facts pertaining to the issue under consideration – The AO during the course of assessment proceeding issued notice under section 133

GATI KINTETSU EXPRESS PRIVATE LIMITED ,MAHARASHTRA AND MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MAHARASHTRA AND MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

section 32(1) of the Act in case of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of depreciation on any tangible or intangible assets allowable to the depreciation on any tangible or intangible assets allowable to the depreciation on any tangible

GATI KINTETSU EXPRESS PRIVATE LIMITED,MUMBAI vs. DY.COMMISSIONER OF INCOME , CIRLCE 14(1)(2)TAX, MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

section 32(1) of the Act in case of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of depreciation on any tangible or intangible assets allowable to the depreciation on any tangible or intangible assets allowable to the depreciation on any tangible

GATI KINTETSU EXPRESS PRIVATE LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

section 32(1) of the Act in case of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of depreciation on any tangible or intangible assets allowable to the depreciation on any tangible or intangible assets allowable to the depreciation on any tangible

GATI KINTETSU EXPRESS PRIVATE LIMITED ,MAHARASHTRA AND MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MAHARASHTRA AND MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

section 32(1) of the Act in case of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of succession of business, the aggregate deduction in respect of depreciation on any tangible or intangible assets allowable to the depreciation on any tangible or intangible assets allowable to the depreciation on any tangible

HSBC PROFESSIONAL SERVICES (I) P. LTD,MUMBAI vs. DCIT RG 8(2), MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2006-07 Jcit-8(2), (Osd), M/S Hsbc Professional Services Room No. 216-A, Aayakar (India) Pvt. Ltd., Bhavan, M.K. Road, Vs. Kamla Bhavan, Swami Nityanand Mumbai-400020. Marg, Andheri (East), Mumbai-400069. Pan No. Aabch 0705 R Appellant Respondent Assessment Year: 2006-07 Hsbc Professional Services The Deputy Commissioner Of (India) Private Limited, Income-Tax Range 8(2), 6Th Floor, Shiv Building, Cts Vs. Mumbai. No. 139 & 140B, Sahar Road, Vile Parle (East), Mumbai-400057. Pan No. Aabch 0705 R Appellant Respondent Assessee By : Mr. Niraj Sheth, Ar Revenue By : Mr. V.K. Agarwal, Dr Date Of Hearing : 01/07/2022 Date Of Pronouncement : 13/09/2022

133(6) of the Act is selective and arbitrary and hence should be outrightly selective and arbitrary and hence should be outrightly selective and arbitrary and hence should be outrightly rejected. rejected. 6. The learned CIT The learned CIT-A erred on facts and in law in upholding the A erred on facts and in law in upholding the order

DCIT RG 8(2) (OSD), MUMBAI vs. HSBC PROFESSIONAL SERVICES (I) P. LTD, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2006-07 Jcit-8(2), (Osd), M/S Hsbc Professional Services Room No. 216-A, Aayakar (India) Pvt. Ltd., Bhavan, M.K. Road, Vs. Kamla Bhavan, Swami Nityanand Mumbai-400020. Marg, Andheri (East), Mumbai-400069. Pan No. Aabch 0705 R Appellant Respondent Assessment Year: 2006-07 Hsbc Professional Services The Deputy Commissioner Of (India) Private Limited, Income-Tax Range 8(2), 6Th Floor, Shiv Building, Cts Vs. Mumbai. No. 139 & 140B, Sahar Road, Vile Parle (East), Mumbai-400057. Pan No. Aabch 0705 R Appellant Respondent Assessee By : Mr. Niraj Sheth, Ar Revenue By : Mr. V.K. Agarwal, Dr Date Of Hearing : 01/07/2022 Date Of Pronouncement : 13/09/2022

133(6) of the Act is selective and arbitrary and hence should be outrightly selective and arbitrary and hence should be outrightly selective and arbitrary and hence should be outrightly rejected. rejected. 6. The learned CIT The learned CIT-A erred on facts and in law in upholding the A erred on facts and in law in upholding the order

DCIT-2(3)(1), MUMBAI vs. KOTAK MAHINDRA BANK LTD, MUMBAI

section 131 or 133(6) of the Act. The assessee has also\ncontended that no cross-examination of the parties was allowed before\ntaking adverse view of the matter.\n6.1 In view of all the above aspects of the case, we are of the\nconsidered view that it would be in the fitness of things to set aside the\nmatter

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. DCIT-3(2)(2), ASSESSMENT UNIT, INCOME TAX DEPT, MUMBAI

In the result, appeal of the Revenue is dismissed

section 131 or 133(6) of the Act. The assessee has also\ncontended that no cross-examination of the parties was allowed before\ntaking adverse view of the matter.\n6.1 In view of all the above aspects of the case, we are of the\nconsidered view that it would be in the fitness of things to set aside the\nmatter

RADIANT LIFE CARE MUMBAI P. LTD.,MUMBAI vs. PR. CIT-3, MUMBAI

In the result, the appeals of the assessee are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2015-16 & Assessment Year: 2016-17 Radiant Life Care Mumbai Pvt. Ltd., Principle Commissioner Of 401, 4Th Floor Man Excellenza, S.V. Income Tax Mumbai-3, Road, Vile Parle (W), Vs. R. No. 612, 6Th Floor, Aayakar Mumbai-400056. Bhavan, Maharishi Karve Road, Mumbai-400020. Pan No. Aagcr 9198 D Appellant Respondent

depreciation on deposit made the person running the Nanawati Hospital as how the same was an intangible asset in the hands of the ITA Nos. 895 & 296/M/2021 26 Radiant Life Care Mumbai assessee. Merely placing of certain information by the assessee on the issue in dispute cannot be termed as conducting of enquiry by the Assessing Officer. The Assessing Officer

RADIANT LIFE CARE MUMBAI P. LTD.,MUMBAI vs. PR. CIT-3, MUMBAI

In the result, the appeals of the assessee are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2015-16 & Assessment Year: 2016-17 Radiant Life Care Mumbai Pvt. Ltd., Principle Commissioner Of 401, 4Th Floor Man Excellenza, S.V. Income Tax Mumbai-3, Road, Vile Parle (W), Vs. R. No. 612, 6Th Floor, Aayakar Mumbai-400056. Bhavan, Maharishi Karve Road, Mumbai-400020. Pan No. Aagcr 9198 D Appellant Respondent

depreciation on deposit made the person running the Nanawati Hospital as how the same was an intangible asset in the hands of the ITA Nos. 895 & 296/M/2021 26 Radiant Life Care Mumbai assessee. Merely placing of certain information by the assessee on the issue in dispute cannot be termed as conducting of enquiry by the Assessing Officer. The Assessing Officer

GOLDMAN SACHS (INDIA) FINANCE PRIVATE LIMITED,MUMBAI vs. ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, NEW DELHI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

depreciation under section 32\nof the Act. Accordingly, the addition of Rs.5,03,462/- made by the AO in the\nhands of the assessee is upheld. As a result, Ground no.1 raised in the\nassessee's appeal is dismissed.\n16. The issue arising in Ground no.2, raised in the assessee's appeal,\npertains to the disallowance of expenditure on account

SHIVNARAYAN NEMANI SHARES & STOCK BROKERS P. LTD.,MUMBAI vs. D.C.I.T. CIRCLE 4(2), MUMBAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm (Hearing Through Video Conferencing Mode) आयकर अपील सं/ I.T.A. No. 2522/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S. Shivnarayan Nemani बिधम/ Dcit, Circle-4(2) Shares & Stock Brokers P. Mumbai Vs. Ltd. 9/43, Bhupen Chambers, 2Nd Floor, Dalal Street Mumbai- 400023. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs3296C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mayank Chauhan (Ar) Revenue By: Shri Rohit Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 07/09/2021 घोषणा की तारीख /Date Of Pronouncement: 08/10/2021 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 20.01.2012 Passed By The Commissioner Of Income Tax (Appeals)-09, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2008-09. 2. The Assessee Has Raised The Following Grounds: - “1(A). On The Facts & In The Circumstances Of The Case & In Law, The Learned Commissioner Of Income-Tax(Appeals) Erred In Confirming The Disallowance Of Additional Amount Of Rs.2,98,258/- Under The Provisions Of Section 14A R.W.R. 8D Of The Income Tax Rules

depreciation on the cost of membership card in the earlier years. 35. As regards the period of holding of shares of BSE Ltd., I find that as per clause (ha) inserted in Explanation 1 to Section 2(42A) of the Act by the Finance Act, 2003, period for which the person was a member of the recognised stock exchange

ASIAN ADVERTISING,MUMBAI vs. ITO 12(3)(4), MUMBAI

In the result, the appeal filed by the assessee firm in ITA N0

Bench: Shri Amit Shukla & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 2349/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) M/S Asian Advertising, Ito – 12(3)(4), बनाम/ 4, Parekh Vora Chambers, Mumbai. V. 66, Nagindas Master Road, Fort,Mumbai – 400 001. "थायी लेखा सं./Pan : Aaafa1477D .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

section 32 of the Income-tax Act. (7)To differentiate a building for grant of additional depreciation by holding it to be a ‘plant’ in one case where the building is specially designed and constructed with some special features to attract the customers and a building not so constructed but used for the same purpose, namely, as a hotel

GRASIM INDUSTRIES LTD.,MUMBAI vs. DCIT RANGE 6(3), MUMBAI

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

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

133 Taxman 740). Grasim Industries Ltd. ITA no.4754/Mum./2004 ITA no.5978/Mum./2004 4.8 The CIT (A) erred in upholding the action of the AO in adjusting loss on export of traded goods against profit on export of manufactured goods, while calculating deduction under section 80 HHC. 5. Appropriation of Head Office expenses 5.1 The CIT (A) erred in confirming

DCIT CIR 6(3), MUMBAI vs. M/S. GRASIM INDUSTRIES LTD., MUMBAI

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

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

133 Taxman 740). Grasim Industries Ltd. ITA no.4754/Mum./2004 ITA no.5978/Mum./2004 4.8 The CIT (A) erred in upholding the action of the AO in adjusting loss on export of traded goods against profit on export of manufactured goods, while calculating deduction under section 80 HHC. 5. Appropriation of Head Office expenses 5.1 The CIT (A) erred in confirming

INCOME TAX OFFICER, MUMBAI vs. K K VENTURA, MUMBAI

In the result, the appeal of the Revenue stands\ndismissed

133(6) were issued to the\nlenders, and though some responded, their replies were, in\nthe view of the Assessing Officer, inadequate to establish\neither creditworthiness or genuineness. He accordingly\nidentified twenty-one lenders, aggregating to ₹8,43,50,000/-,\nwhose loans were treated as unexplained and brought to tax\nunder section 68 of the Act.\nName of the Loan