UNION BANK OF INDIA,MUMBAI vs. DCIT LTU (2), MUMBAI

depreciation which\nhave been adopted for preparing such accounts including\nstatement of profit and loss for such financial year or part of such\nfinancial year falling within the relevant previous year.\n41. In so far as Clause (a), the same applies to a case of a\ncompany other than referred to in Clause (b). According to clause

CENTRAL BANK OF INDIA,MUMBAI vs. ACIT - 2(1)(2), MUMBAI

depreciation which\nhave been adopted for preparing such accounts including\nstatement of profit and loss for such financial year or part of such\nfinancial year falling within the relevant previous year.\n41. In so far as Clause (a), the same applies to a case of a\ncompany other than referred to in Clause (b). According to clause

ACIT CIR. 12(1)(2), MUMBAI vs. BHARTI AXA LIFE INSURANCE COMPANY LTD., MUMBAI

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

151(2) of the Act. When the appeal was taken up for hearing on the 18th January, 1971, only the report submitted by the Income-tax Officer to the Commissioner and the order of the Commissioner was produced. The order sheet recording the reasons of the Income-tax Officer as required by section 148(2) was not produced. Here

ADDL CIT 1(3), MUMBAI vs. TATA COMMUNICATIONS LTD ( FORMERLY VIDESH SANCHAR NIGAM LTD), MUMBAI

In the result, the appeal of the assessee in ITA No

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am Additional Commissioner Vs. M/S. Tata Communications Of Income Tax, Range – Limited (Formerly Known As 1(3) Videsh Sanchar Nigam Limited) Mumbai Videsh Sanchar Bhavan Room No.540/564, 5 Th M.G.Road, Fort Floor, Aayakar Bhavan, Mumbai – 400 001 Maharshi Karve Road, New Marine Linmes Mumbai – 400 020 Pan/Gir No.Aaacv2808C (Appellant) .. (Respondent) & M/S. Tata Communications Vs. Additional Commissioner Of Limited (Formerly Known As Income Tax, Range – 1(3) Videsh Sanchar Nigam Mumbai Limited) Room No.540, Aayakar Videsh Sanchar Bhavan Bhavan, Maharshi Karve M.G.Road, Fort Road Mumbai – 400 001 Mumbai – 400 020 Pan/Gir No.Aaacv2808C (Appellant) .. (Respondent) M/S. Tata Communications Ltd.

151 for reopening of an assessment was required to be obtained by the AO from Joint Commissioner of Income tax whereas the same was granted by Commissioner* of Income tax and therefore the same was nullity in the eyes of law. Revenue took a stand mat sanction was granted by an officer superior in rank and therefore, no prejudice

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

151 of LPB). Para 74. It cannot possibly be suggested that the Government of Punjab formed the trusts under the Punjab Town Improvement Act, 1922 because it wanted to carry on the business as colonizers or developers under the mask of the category "objects of general public utility". Further, the Tribunal in Bangalore Development Authority v. ACIT

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

151 of LPB). Para 74. It cannot possibly be suggested that the Government of Punjab formed the trusts under the Punjab Town Improvement Act, 1922 because it wanted to carry on the business as colonizers or developers under the mask of the category "objects of general public utility". Further, the Tribunal in Bangalore Development Authority v. ACIT

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

151 of LPB). Para 74. It cannot possibly be suggested that the Government of Punjab formed the trusts under the Punjab Town Improvement Act, 1922 because it wanted to carry on the business as colonizers or developers under the mask of the category "objects of general public utility". Further, the Tribunal in Bangalore Development Authority v. ACIT

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

151 of LPB). Para 74. It cannot possibly be suggested that the Government of Punjab formed the trusts under the Punjab Town Improvement Act, 1922 because it wanted to carry on the business as colonizers or developers under the mask of the category "objects of general public utility". Further, the Tribunal in Bangalore Development Authority v. ACIT

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

151 of LPB). Para 74. It cannot possibly be suggested that the Government of Punjab formed the trusts under the Punjab Town Improvement Act, 1922 because it wanted to carry on the business as colonizers or developers under the mask of the category "objects of general public utility". Further, the Tribunal in Bangalore Development Authority v. ACIT

ASST CIT CIR 1, KALYAN vs. ASB INTERNATIONAL P. LTD, AMBERNATH

In the result, appeals filed by the Revenue in ITA No

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.7034/Mum/2013 & 7035/Mum/2013 ("नधा"रण वष" / Assessment Years : 2004-05 & 2006-07) Asstt. Commissioner Of M/S Asb International बनाम/ Income Tax – Circle 1, Pvt. Ltd., V. Kalyan, E-9, Addl Ambernath Indl. 1St Floor,, Area, Mohan Plaza, Midc Anand Nagar, Wayale Nagar, Ambernath. Khadakpada, Kalyan. "थायी लेखा सं./Pan :Aaaca8424F .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

2) of the Act as the same becomes current years depreciation while computing current year profits of the eligible unit for the purposes of working out deductions u/s. 10B of the Act. It is un undisputed and admitted position between the parties that the assessee is entitled for deduction u/s 10B of the Act and the assessment year under consideration

ACIT 4(2), MUMBAI vs. NETWORTH STOCK BROKING LTD, MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 40(a)(ia) of the Act with respect to transaction charges paid to National Stock Exchange for non-deduction of TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities

NETWORTH STOCK BROKING LTD,MUMBAI vs. ACIT CIR 4(2), MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 40(a)(ia) of the Act with respect to transaction charges paid to National Stock Exchange for non-deduction of TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities

NETWORTH STOCK BROKING LTD,MUMBAI vs. ACIT CIR 4(2), MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 40(a)(ia) of the Act with respect to transaction charges paid to National Stock Exchange for non-deduction of TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities

ACIT 4(2), MUMBAI vs. NETWORTH STOCK BROKING LTD, MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 40(a)(ia) of the Act with respect to transaction charges paid to National Stock Exchange for non-deduction of TDS u/s 194J of the Act by holding that the payments are in the nature of technical services. Now, this issue is covered by the decision of the Hon’ble Supreme Court in the case of Kotak Securities

DY CIT CC-1(4), MUMBAI vs. M/S GRASIM INDUSTRIES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

2, Pg. 155, Argument of Assessee – Para 8, Pg. 161, Held: Para 12, Pg. 154-169 of Legal Paper Book, Vol. I) 65. The Appellant further submits that doing business through subsidiaries/JVs is also recognized legal business concept. In this regard reliance is placed on the following decisions: a. State of UP and Others VsRenusagar Power Co. and Others

GRASIM INDUSTRIES LTD.,MUMBAI vs. DY CIT, CENTRAL CIRCLE-1(4), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

2, Pg. 155, Argument of Assessee – Para 8, Pg. 161, Held: Para 12, Pg. 154-169 of Legal Paper Book, Vol. I) 65. The Appellant further submits that doing business through subsidiaries/JVs is also recognized legal business concept. In this regard reliance is placed on the following decisions: a. State of UP and Others VsRenusagar Power Co. and Others

STAARK ACCESSORIES PRIVATE LIMITED,MUMBAI vs. ACIT, CIRCLE 13(2)(2)

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

Bench: Shri Kuldip Singh & Shri Gagan Goyalm/S. Staark Accessories Pvt. Ltd., A-20, Virwani Industrial Estate Goregaon East, Mumbai- 400063, Pan: Aatcs1816J ...... Appellant Vs. Acit-13(2) (2), Aayakar Bhavan, Maharishi Karve Road, Mumbai- 400020 ..... Respondent

depreciation of Rs.335, 042/- and Finance cost of Its.38, 30,019/-. Details of Expenses are attached. (Annexure A) 3. The company was engaged in trading of goods. The perfumes and deodorants were being bought from suppliers who manufactured them according to the company's specifications and formulae. As such, it was necessary to supervise the quality of the goods being

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

HEWLETT PACKARD FINANCIAL SERVICES (INDIA) P. LTD,BANGALORE vs. ASST CIT CIR 2(1)(2), BANGALURU

Accordingly, the ground is dismissed as not pressed

Bench: Smt Beena Pillai, Jm &\Nms Padmavathy S, Am\Ni.T.A. No. 915/Mum/2017\N(Assessment Year: 2011-12)\Nhewlett Packard Financial\Nservices (India) Pvt. Ltd.,\N24, Salarpuria Arena, Hosur Main\Nroad, Adugodi, Bangalore-560030.\Npan: Aabcc5967C\Nappellant)\Nassessee By\Nrevenue By\Ndate Of Hearing\Ndate Of Pronouncement\Nacit, Circle-2(1)(2),\Naayakar Bhavan,\Nvs. M.K. Road, Mumbai-400020.\N:\N:\N:\N:\Nrespondent)\Nshri Percy Pardiwala &\Nmr. Ninad Patade, Ar\Nshri Pravin Salunkhe, Sr. Dr\N22.09.2025\N21.10.2025\Norder\Nper Padmavathy S, Am:\Nthis Appeal By The Assessee Is Against The Order Of The Commissioner Of\Nincome Tax (Appeals)-4, Mumbai [In Short 'Cit(A)'] Passed Under Section 250 Of\Nthe Income Tax Act, 1961 (The Act) Dated 25.10.2016 For Assessment Years (Ay)\N2011-12. The Assessee Raised Grounds Pertaining To The Following Issues:\N(I) Disallowance Of Claim Of Depreciation On \"Hp Indigo Digital Press\Nprinter\" @ 60% - Ground No. 1.1 To 1.7\N(Ii) Treatment Of Ceased Liability As Income U/S 41 - Ground No. 2.1 To\N2.9\N(Iii) Disallowance Of Set Off Of Unabsorbed Depreciation - Ground\Nno. 3.1 To 3.9\N(Iv) Disallowance Of Provision For Tds Certificates & Addition To\Nbook Profits U/S.115Jb - Ground No.

2. I have circumspected the facts and circumstances of the case and\nhave carefully considered the finding of the Assessing Officer as well as\nrival submission of the Appellant, the facts of the case is that M/s. Hewlett\nPackard H.P. (I) Pvt. Ltd. has sold out goods to the Appellant company\nworth of Rs.11,77,01,185/-Subsequently, in this