LEGAL HEIRS OF LATE SHREEVALLABH DAMANI,MUMBAI vs. ACIT CEN CIR 11, MUMBAI

In the result, the appeals are allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

4) of section 245D, on the basis of such order; (f) where an assessment of undisclosed income had been made earlier under clause (c) of section 158BC, on the basis of such assessment. Explanation.—For the purposes of determination of undisclosed income,— (a) the total income or loss of each previous year shall, for the purpose of aggregation, be taken

LEGAL HEIRS OF LATE SHREEVALLABH DAMANI,MUMBAI vs. ACIT CEN CIR 11, MUMBAI

In the result, the appeals are allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

4) of section 245D, on the basis of such order; (f) where an assessment of undisclosed income had been made earlier under clause (c) of section 158BC, on the basis of such assessment. Explanation.—For the purposes of determination of undisclosed income,— (a) the total income or loss of each previous year shall, for the purpose of aggregation, be taken

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

M/S. STANDARD CHARTERED BANK,MUMBAI vs. THE ACIT (IT)1(3), MUMBAI

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

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blestandard Chartered Bank V. Acit – Range-1(3) Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Adit (It)– 2(3) V. Standard Chartered Bank Room No. 120, 1St Floor Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Shri P.J. Pardiwala & Assessee Represented By : Shri Fenil Bhatt Shri Soumendu Kumar Dash Department Represented By :

depreciation. Looking to the nature of the advantage which the assessee obtained in a commercial sense, expenditure appears to be revenue expenditure. The test for distinguishing between capital expenditure and revenue expenditure in our country was laid down by this Court in Assam Bengal Cement Co. Ltd. v. Commissioner of Income-tax, West 12 ITA NO. 803 & 850/MUM/2009

ACIT 6(3), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

245D, the amount on which interest was payable\nunder sub-section (1) has been increased or reduced, as the\ncase may be, the interest shall be increased or reduced\naccordingly, and in a case where the interest is reduced, the\nAssessing Officer shall serve on the assessee a notice of\ndemand in the prescribed form specifying the amount

LODHA DEVELOPERS LTD(FORMERLY KNOWN AS LODHA DEVELOPERS PRIVATE LIMITED),MUMBAI vs. DCIT CEN CIR 7(3), MUMBAI

In the result, appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Bledy. Commissioner Of Income-Tax V. M/S. Palava Dwellers Pvt. Ltd., Central Circle – 7(3) 412, 71-G, Vardhman Chamber Room No. 655, 6Th Floor C.P. Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent) Lodha Developers Limited Dy. Commissioner Of Income-Tax V. {Since Merged M/S. Palava Dwellers Pvt. Ltd.,} Central Circle – 7(3) 412, 4Th Floor, 17G, Vardhman Chamber Room No. 655, 6Th Floor Cawasji Patel Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai - 400 001 Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent)

245D(3) of I.T. Act, the assessee informed the Assessing Officer that interest of ₹.124.02 crores as claimed in the computation of income on ground of interest expenses retained in inventory is deductible under provisions of 14 ITA No. 2147 & 2348/MUM/2018 (A.Y: 2014-15) Lodha Developers Limited {since merged M/s. Palava Dwellers Pvt. Ltd.,} section

DCIT CENT. CIR. -7(3), MUMBAI vs. PALAVA DWELLERS PVT. LTD. , MUMBAI

In the result, appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Bledy. Commissioner Of Income-Tax V. M/S. Palava Dwellers Pvt. Ltd., Central Circle – 7(3) 412, 71-G, Vardhman Chamber Room No. 655, 6Th Floor C.P. Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent) Lodha Developers Limited Dy. Commissioner Of Income-Tax V. {Since Merged M/S. Palava Dwellers Pvt. Ltd.,} Central Circle – 7(3) 412, 4Th Floor, 17G, Vardhman Chamber Room No. 655, 6Th Floor Cawasji Patel Road, Horniman Circle Aayakar Bhavan, M.K. Road Fort, Mumbai - 400 001 Mumbai – 400 020 Pan: Aabcl1117D (Appellant) (Respondent)

245D(3) of I.T. Act, the assessee informed the Assessing Officer that interest of ₹.124.02 crores as claimed in the computation of income on ground of interest expenses retained in inventory is deductible under provisions of 14 ITA No. 2147 & 2348/MUM/2018 (A.Y: 2014-15) Lodha Developers Limited {since merged M/s. Palava Dwellers Pvt. Ltd.,} section

DCIT CC 6(4), MUMBAI vs. DHANI SERVICES LTD (PREVIOUSLY KNOWN AS INDIABULLS VENTURES LTD. PRIOR TO THAT KNOWN AS INDIA BULLS VENTURES LTD, DELHI

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

depreciation and of ESOP expenses. Therefore the grounds raised in this regard in all the appeals are dismissed as not pressed. Addition under Section 69C 8. During the course of the assessment proceedings, the AO observed that a search at the premises of Indiabulls group was conducted on 13.07.2016. The entry found from the print out of MS Excel

DCIT CC 6(4), MUMBAI vs. DHANI SERVICES LTD (PREVIOUSLY KNOWN AS INDIABULLS VENTURES LTD. PRIOR TO THAT KNOWN AS INDIA BULLS VENTURES LTD, DELHI

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

depreciation and of ESOP expenses. Therefore the grounds raised in this regard in all the appeals are dismissed as not pressed. Addition under Section 69C 8. During the course of the assessment proceedings, the AO observed that a search at the premises of Indiabulls group was conducted on 13.07.2016. The entry found from the print out of MS Excel

DCIT CC 6(4), MUMBAI vs. DHANI SERVICES LTD (PREVIOUSLY KNOWN AS INDIABULLS VENTURES LTD. PRIOR TO THAT KNOWN AS INDIA BULLS VENTURES LTD, DELHI

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

depreciation and of ESOP expenses. Therefore the grounds raised in this regard in all the appeals are dismissed as not pressed. Addition under Section 69C 8. During the course of the assessment proceedings, the AO observed that a search at the premises of Indiabulls group was conducted on 13.07.2016. The entry found from the print out of MS Excel

DCIT CC 6(4), MUMBAI vs. DHANI SERVICES LTD (PREVIOUSLY KNOWN AS INDIABULLS VENTURES LTD. PRIOR TO THAT KNOWN AS INDIA BULLS VENTURES LTD, DELHI

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

depreciation and of ESOP expenses. Therefore the grounds raised in this regard in all the appeals are dismissed as not pressed. Addition under Section 69C 8. During the course of the assessment proceedings, the AO observed that a search at the premises of Indiabulls group was conducted on 13.07.2016. The entry found from the print out of MS Excel

HELLIOS EXPORTS LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD MUMBAI ,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI , MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

CITRON INFRAPROJECT LTD.,,MUMBAI-400005 vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI-20

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI MUMBAI MUMB, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

ACIT (CC)-8(2) , MUMBAI vs. HELIOS EXPORTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A

SVP SOUTH WEST INDUSTRIES LTD. (FORMERLY, PLATINUM TEXTILE LTD.),MUMBAI-400005 vs. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

245D (4) of the Act passed its order disposing of the assessee's application and has not accepted the terms of settlement of the assessee group. Therefore, the terms of settlement were not accepted. SVP southwest Industries Ltd; A.Y. 16-17 & Ors The assessee filed its return of income on 2/11/2018 in response to 05. notice under section 153A