ESSEL MINING & INDUSTRIES LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), MUMBAI

In the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year the result, the appeal of the Revenue for assessment year

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2011-12 & Assessment Year: 2012-13 Essel Mining & Industries Ltd., Dy. Cit, Central Circle-1(4), Industry House, 18Th Floor, 10, 9Th Floor, Old Cgo Building, Camac Street, Vs. Mk Road, Kolkata-700017. Mumbai-400020. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 & Assessment Year: 2012-13 Jcit, Central Circle-1(4), M/S Essel Mining & Industries Room No. 902, Pratishtha Ltd., Bhavan, 9Th Floor, Old Cgo Vs. Industry House, 18Th Floor, 10, Building Annexe, Camac Street, Mumbai-400020. Kolkata-700017. Pan No. Aaace 6607 L Appellant Respondent Assessment Year: 2011-12 M/S Essel Mining & Industries Dy. Cit, Central Circle-1(4), Ltd., 9Th Floor, Old Cgo Building, Vs. Industry House, 18Th Floor, 10, Mk Road

ii) penalty charges, (iv) club expenses, (v) excess depreciation on electrical equipment (iv) club expenses, (v) excess depreciation on electrical equipment (iv) club expenses, (v) excess depreciation on electrical equipment and (vi) expenses related to exempt income u/s 80IA of the Act. and (vi) expenses related to exempt income u/s 80IA and (vi) expenses related to exempt income u/s 80IA

MAHARASHTRA STATE ELECTRICITY TRANSMISSION COMPANY LTD.,,MUMBAI vs. THE INCOME TAX OFFICER, WARD-14(2)(3), MUMBAI

In the result, the appeal of the assessee is al

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2011-12 Maharashtra State Electricity Income-Tax Officer, Ward Transmission Company Ltd., 14(2)(3), Plot No. C-19 E Block, Vs. Aayakar Bhavan, Maharshi Prakashganga, Bandra-Kurla Karve Road, Complex, Bandra (East), Mumbai-400020. Mumbai-400051. Pan No. Aaecm 2936 N Appellant Respondent Assessee By : Mr. Ketan Ved, Ar Revenue By : Mr. Harishankar Lal, Dr : Date Of Hearing 15/11/2022 Date Of Pronouncement : 29/12/2022

143(3) of the Regarding the decision the case of Kalyanji Mavji and Co (supra), Regarding the decision the case of Kalyanji Mavji and Co (supra), Regarding the decision the case of Kalyanji Mavji and Co (supra), referred by the Ld. CIT(A) to hold that reassessm referred by the Ld. CIT(A) to hold that reassessment is permissible

MANOHAR MANAK ALLOYS P.LTD,MUMBAI vs. ACIT 4(2), MUMBAI

Appeal is allowed

Section 143(3) of the Act on 30.03.1998. Subsequently, reassessment proceeding were initiated in respect of three issues viz., (i) the expenses claimed for share issue, (ii) bad and doubtful debts and, (iii) excess depreciation

DR BATRAS POSITIVE HEALTH CLINIC PRIVATE LIMITED,MUMBAI vs. CIT(A), NATIONAL FACELESS APPEAL CENTRE

In the result, all the appeals of the assessee

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Ita Nos. 2748, 2747 & 2761/Mum/2023 Assessment Year: 2011-12, 2012-13 & 2013-14 Dr Batras Positive Health Clinic Cit(A), National Faceless Pvt. Ltd., Appeal Centre, Delhi. 2Nd Floor, H Kantilal Compound, Vs. Andheri Kurla Road, Sakinaka Andheri East-400072 Pan No. Aabcd 3857 G Appellant Respondent

section 147 of the Act on 28/12/2018, the Assessing Officer disallowed following on on 28/12/2018, the 28/12/2018, the Assessing Officer disallowed Assessing Officer disallowed expenses: (i) Business promotion expenses amounting to Business promotion expenses amounting to ₹3,72,89,606/ 606/- ; (ii) Depreciation on ‘yacht ‘yacht’ amounting to ₹29,62,433/-and (iii) Repair expenses of the yacht amounting

DR BATRAS POSITIVE HEALTH CLINIC PRIVATE LIMITED,MUMBAI vs. CIT(A), NFAC, NATIONAL FACELESS APPEAL CENTRE

In the result, all the appeals of the assessee

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Ita Nos. 2748, 2747 & 2761/Mum/2023 Assessment Year: 2011-12, 2012-13 & 2013-14 Dr Batras Positive Health Clinic Cit(A), National Faceless Pvt. Ltd., Appeal Centre, Delhi. 2Nd Floor, H Kantilal Compound, Vs. Andheri Kurla Road, Sakinaka Andheri East-400072 Pan No. Aabcd 3857 G Appellant Respondent

section 147 of the Act on 28/12/2018, the Assessing Officer disallowed following on on 28/12/2018, the 28/12/2018, the Assessing Officer disallowed Assessing Officer disallowed expenses: (i) Business promotion expenses amounting to Business promotion expenses amounting to ₹3,72,89,606/ 606/- ; (ii) Depreciation on ‘yacht ‘yacht’ amounting to ₹29,62,433/-and (iii) Repair expenses of the yacht amounting

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

depreciation allowance or any \nother allowance, as the case may be, for the assessment \nyear concerned (hereafter in this section and in sections \n148 to 153 referred to as the relevant assessment year) : \n\n Provided that where an assessment under sub-section (3) \nof section 143 or this section has been made for the \nrelevant assessment year, no action

GRASIM INDUSTRIES LTD ( CORPORATE FINANCE DIVISION),MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

Bench: the CIT(A). The CIT(A) partly allowed the appeal preferred by the Assessee vide order, dated 18/05/2009. 4. Not being satisfied with the relief granted by the Id. CIT(A), the Assessee has preferred appeal before this Tribunal. The Revenue has also filed cross-appeal challenging the relief granted by the Id. CIT(A).

depreciation of INR.5,88,509/-. Ground No. 2 to 2.2 raised the Assessee are allowed. 8. Ground No. 3. “3. Disallowance u/s.40(a)(ia) 3.1. On the facts and circumstances of the case and in law, the CIT (A) erred in upholding the action of AO in disallowing the liability of Rs. 1,74,35,896/- towards year-end expenses

CIFCO FINANCE LTD,MUMBAI vs. DCIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

CIFCO FINANCE LTD,MUMBAI vs. ACIT (OSD-II) CR 7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD II) CIR.7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

CIFCO FINANCE LTD,MUMBAI vs. DCIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

CIFCO FINANCE LTD,MUMBAI vs. ASST CIT (OSD-II) CIR 7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

ACIT (OSD-II) CENT. RG. - 7, MUMBAI vs. M/S. CIFCO FINANCE LTD., MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

CIFCO FINANCE LTD,MUMBAI vs. ACIT (OSD II), CR 7,, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR.-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page

M/S. CIFCO FINANCE LTD.,MUMBAI vs. ACIT (OSD-II) CR-7, MUMBAI

In the result all 16 appeals related to the assessee are disposed off

Bench: The Income Tax Appellate Tribunal C Bench Mumbai Before Sri Amit Shukla J M & Prashant Maharishi Am In The Matter Of Cifco Finance Limited, [ Aaacc1765F] Bhupen Chambers, Dalal Street, Mumbai V The Asst Commissioner Of Income Tax Aykar Bhavan 4Th Floor , M K Road Mumbai 20

Section 147 10 490/M/2008 2004 – 2005 Assessee 143 (3) 11 488/M/2013 2004 – 2005 Assessee penalty u/s 271 (1) (C) 12 1919/M/2009 2005 – 2006 Assessee 143 (3) 13 489/M/2013 2006 – 2007 Assessee penalty u/s 271 (1) (C) 14 6075/M/2009 2006 – 2007 Assessee 143 (3) 15 6146/M/2011 2007 – 2008 Assessee 143 (3) 16 6147/M/2011 2008 – 2009 Assessee 143 (3) Page