HOUSING DEVP. FIN.CORPN. LTD. vs. THE ADIT CIR. 1(1),

The appeal of the assessee is partly allowed

depreciation on leased assets solely to the income from\nleasing\nThe AO has allocated interest expenditure (other than foreign currency\nborrowings) to income from housing business and other income in the ratio of 64.99 :\n35.01.\nThe AO has allocated other expenses to income from housing business and other\nincome in the ratio of 80:20.\n11.\nThe Assessing Officer accordingly

M/S. HOUSING DEVELOPMENT FINANCE CORP. LTD.,MUMBAI vs. DCIT CIR. 1(1), MUMBAI

depreciation on leased assets solely to the income\nfrom leasing\n(iii) AO has allocated interest expenditure (other than foreign currency\nborrowings) to income from housing business and other income in the\nratio of 66.25:33.75\n(iv) AO has allocated other expenses to income from housing business\nand other income in the ratio of 80:20.\n8.3. Ld. Assessing

M/S. HOUSING DEVELOP,MENT FINANCE CORPN. LTD,MUMBAI vs. THE ADDL CIT RG 1(1), MUMBAI

depreciation on leased assets solely to the income\nfrom leasing\n(iii)\nAO has allocated interest expenditure (other than foreign currency\nborrowings) to income from housing business and other income in the\nratio of 66.25:33.75\n(iv)\nAO has allocated other expenses to income from housing business\nand other income in the ratio of 80:20.\n8.3. Ld. Assessing

M/S. HOUSING DEVELOP,MENT FINANCE CORPN. LTD,MUMBAI vs. THE ADDL CIT RG-1(1), MUMBAI

In the result, the three appeals by the Revenue are partly\nallowed

depreciation on leased assets solely to the income\nfrom leasing\n(iii)\nAO has allocated interest expenditure (other than foreign currency\nborrowings) to income from housing business and other income in the\nratio of 66.25:33.75\n(iv)\nAO has allocated other expenses to income from housing business\nand other income in the ratio of 80:20.\n8.3. Ld. Assessing

THE DY CIT CIR 1(1), MUMBAI vs. M/S. HOUSING DEVELOPMENT FINANCE CORPN LTD, MUMBAI

In the result, the three appeals by the Revenue are partly\nallowed

depreciation on leased assets solely to the income\nfrom leasing\n(iii)\nAO has allocated interest expenditure (other than foreign currency\nborrowings) to income from housing business and other income in the\nratio of 66.25:33.75\n(iv)\nAO has allocated other expenses to income from housing business\nand other income in the ratio of 80:20.\n8.3. Ld. Assessing

THE DY CIT CIR 1(1), MUMBAI vs. M/S. HOUSING DEVELOPMENT FINANCE CORPN LTD., MUMBAI

In the result, the three appeals by the Revenue are partly\nallowed

depreciation on leased assets solely to the income\nfrom leasing\n(iii)\nAO has allocated interest expenditure (other than foreign currency\nborrowings) to income from housing business and other income in the\nratio of 66.25:33.75\n(iv)\nAO has allocated other expenses to income from housing business\nand other income in the ratio of 80:20.\n8.3. Ld. Assessing

DCIT CIR 1(1), MUMBAI vs. M/S. HOUSING DEVELOPMENT FINANCE CORPN. LTD., MUMBAI

In the result, the three appeals by the Revenue are partly\nallowed

depreciation on leased assets solely to the income\nfrom leasing\n(iii)\nAO has allocated interest expenditure (other than foreign currency\nborrowings) to income from housing business and other income in the\nratio of 66.25:33.75\n(iv)\nAO has allocated other expenses to income from housing business\nand other income in the ratio of 80:20.\n8.3. Ld. Assessing

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

depreciation and other expenses incurred on car is bad in law as the addition is not based on the material found during the course of search and that it pertained to non-abated assessment year. 8. The learned CIT(A) has erred in law and in facts in not determining the income from short term capital gains at Rs.10

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

depreciation and other expenses incurred on car is bad in law as the addition is not based on the material found during the course of search and that it pertained to non-abated assessment year. 8. The learned CIT(A) has erred in law and in facts in not determining the income from short term capital gains at Rs.10

BERMACO ENERGY SYSTEMS LTD,NAVI MUMBAI vs. DCIT CC 47, MUMBAI

In the result, appeal for A

depreciation and other expenses incurred on car is bad in law as the addition is not based on the material found during the course of search and that it pertained to non-abated assessment year. 8. The learned CIT(A) has erred in law and in facts in not determining the income from short term capital gains at Rs.10

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

DCIT, MUMBAI vs. J KUMAR INFRAPROJECTS LIMITED, MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

DCIT CC 5-1, MUMBAI, MUMBAI vs. J KUMAR INFRAPROJECTS LIMITED , MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

SWANSTON MULTIPLEX CINEMAS P.LTD,MUMBAI vs. ASST CIT CIR 11(1), MUMBAI

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2005-06 Swanston Multiplex Cinemas Acit, Private Limited, Circle-11(1), बनाम/ 9Th Floor, Viraj Towers, W.E. R. No.467, Vs. Highway Next To Andheri Aayakar Bhavan, Flyover Andheri (East), M. K. Road, Mumai-400093 Mumbai-400020 ("नधा"रती/Assessee) (राज"व /Revenue) Pan No.:-Aafcs6295K

1.—Production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso. Explanation 2.—For the purposes of this section, the following shall also be deemed to be cases where income chargeable

RATNAGIRI STAINLESS P. LTD,MUMBAI vs. ITO 5(3)(1), MUMBAI

In the result, appeal filed by the assessee in ITA No

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 4463/Mum/2016 ("नधा"रण वष" / Assessment Year : 2009-10) M/S Ratnagiri Stainless Pvt. Income Tax Officer 5(3)(1), बनाम/ Ltd., Mumbai. V. 21/23, Laxmi Niwas, 2 Nd Parsiwada Lane, Opp V.P. Road Police Station, Mumbai – 400 004. "थायी लेखा सं./Pan : Aadcr2993P (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

depreciation allowance has been computed. Explanation 2.—Production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not neces-sarily amount to disclosure within the meaning of this section." 16. Section 147 authorises and permits the Assessing Officer to assess or reassess income

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 :

Section 256(1) of the Income-tax Act, 1961 : "Whether on the fact and in the circumstances of the case the Appellate Tribunal was right in holding that the building expenses of Rs. 1,62,835/- are not liable to be taken into account as deductible expenditure in arriving at the real income of the assessee fro the assessment year

ITO 22(3)(1), NAVI MUMBAI vs. CRESCENT CONSTRUCTION, NAVI MUMBAI

The appeal of the assessee is allowed and of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2005-06

depreciation allowance or any other allowance under this Act has been computed; (d) where a person is found to have any asset (including financial interest in any entity) located outside India. Explanation 3.—For the purpose of assessment or reassessment under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped