DY. CIT CIRCLE 3(4), MUMBAI, MUMBAI vs. ASIAN PAINTS LTD, MUMBAI

In the result, appeals filed by assessee and Revenue for A

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

2 Order passed merely on Ground No. II Ground No. Ill Ground No. Ill conjecture and surmises M/s. Asian Paints 3 Breach of principles of - Ground No. I Ground No. I natural justice 4 Enhancement made by Ground No. Ground No. Ground No. CIT (A) is bad in law XIII XVI XIII 5 Reduction of claim made Ground

TECHNO SHARES & STOCKS LTD,MUMBAI vs. ADDL CIT RG 4(2), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Shri G.S. Pannu() : A.Y : 2008-09

IV. Under section 80J what is provided is an additional deduction which is calculated as a percentage of the capital employed by the assessee in certain undertakings as set out in section 80J. Section 80J(1A)(II) prescribes the manner of ascertaining the value of such capital assets. The assets which are to be taken into account for computation

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 section 33, sub-section (4) of section 35 or the second proviso to clause (ix) of sub A-section (1) of section 36, as the case may be, shall not apply in relation to any such allowance or deduction ; (ii) no loss referred to in sub-section (1) of section 72 or subsection (1) or sub-section

PEOPLE INERACTIVE (I) P. LTD,MUMBAI vs. PR CIT 7, MUMBAI

The appeals of the assessee are allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumar

2) of section 33, sub-section (4) of section 35 or the second proviso to clause (ix) of sub-section (1) of section 36, as the case may be, shall not apply in relation to any such allowance or deduction; (ii) no loss referred to in sub-section (1) of section 72 or sub-section (1) or sub-section

PEOPLE INERACTIVE (I) P.LTD,MUMBAI vs. PR CIT 7, MUMBAI

The appeals of the assessee are allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumar

2) of section 33, sub-section (4) of section 35 or the second proviso to clause (ix) of sub-section (1) of section 36, as the case may be, shall not apply in relation to any such allowance or deduction; (ii) no loss referred to in sub-section (1) of section 72 or sub-section (1) or sub-section

ITO 2(2)(4), MUMBAI vs. MOBIAPPS INDIA P.LTD, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2008-09 Income Tax Officer-2(2)(4), M/S Mobiapps India Pvt. Ltd. Room No.542, 5Th Floor, 7/10, Borawala Building, बनाम/ Aayakar Bhavan, Horniman Circle, Fort, Vs. M.K. Road, Mumbai-400001 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaccm3613L

2) of section 33, sub-section (4) of section 35 or the second proviso to clause (ix) of sub-section (1) of section 36, as the case may be, shall not apply in relation to any such allowance or deduction; (ii) no loss referred to in sub-section (1) of section 72 or sub-section (1) or sub-section

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.

iv)Notification no.267/2001 dated 17.09.2001 15. At this stage, we propose to deal with each of the aforesaid notification relied upon by the Department to establish the valid exercise of jurisdiction as an Assessing Officer by the Addl. CIT. The first notification being notification no.228 of 2001 dated 31st July 2001, corresponding to notification no. S.O. 732(E) dated

ASIAN PAINTS LIMITED,SANTACRUZ vs. ASSISTANT COMMISSIONER OF INCOME TAX, LTU CIRCLE 1, CUFFE PARADE

In the result, appeals filed by assessee and Revenue for\nA

2,\n6A, Shanti Nagar\nWorld Trade Centre 1\nVakola Pipeline Lane\nCuffee Parade\nSantacruz (East)\nMumbai-400\n005 Maharashtra\nS.O. Mumbai-400 055\nMaharashtra\n(Appellant)\nPAN/GIR No.AAACA3622K\n(Respondent)\n2\nITA No.2700/Mum/2023 and others\nM/s. Asian Paints\nAssessee by\nShri Madhur Agrawal &\nShri Ronak Doshi\nRevenue by\nShri Ajay Chandra\nDate of Hearing\n21/05/2024\nDate of Pronouncement\n26/07/2024\nआदेश

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

depreciation. It has also been held by the Tribunal that the assessee has been established to promote rapid and orderly development of industries in the State and to assist in implementation of the policy of the Government within the purview of the KIAD Act, to facilitate in establishing infrastructure projects and to function on 'No Profit- No Loss' basis

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

depreciation. It has also been held by the Tribunal that the assessee has been established to promote rapid and orderly development of industries in the State and to assist in implementation of the policy of the Government within the purview of the KIAD Act, to facilitate in establishing infrastructure projects and to function on 'No Profit- No Loss' basis

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

depreciation. It has also been held by the Tribunal that the assessee has been established to promote rapid and orderly development of industries in the State and to assist in implementation of the policy of the Government within the purview of the KIAD Act, to facilitate in establishing infrastructure projects and to function on 'No Profit- No Loss' basis

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

depreciation. It has also been held by the Tribunal that the assessee has been established to promote rapid and orderly development of industries in the State and to assist in implementation of the policy of the Government within the purview of the KIAD Act, to facilitate in establishing infrastructure projects and to function on 'No Profit- No Loss' basis

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

depreciation. It has also been held by the Tribunal that the assessee has been established to promote rapid and orderly development of industries in the State and to assist in implementation of the policy of the Government within the purview of the KIAD Act, to facilitate in establishing infrastructure projects and to function on 'No Profit- No Loss' basis

DCIT (E) 2(1), MUMBAI vs. MUMBAI RAILWAY VIKAS CORPN LTD, MUMBAI

iv) preservation of environment including watersheds (forest and wildlife), (v) preservation of monuments and places or objects of artistic or historical importance, and (vi)advancement of any other object of general public utility. The first proviso to section 2(15) of the Act carves out an exception which excludes advancement of any other object of general public utility from

DCIT (E) 2(1), MUMBAI vs. MUMBAI RAILWAY VIKAS CORPN LTD, MUMBAI

iv) preservation of environment including watersheds (forest and wildlife), (v) preservation of monuments and places or objects of artistic or historical importance, and (vi)advancement of any other object of general public utility. The first proviso to section 2(15) of the Act carves out an exception which excludes advancement of any other object of general public utility from

DCIT (E) 2(1), MUMBAI vs. MUMBAI RAILWAY VIKAS CORPN LTD, MUMBAI

iv) preservation of environment including watersheds (forest and wildlife), (v) preservation of monuments and places or objects of artistic or historical importance, and (vi)advancement of any other object of general public utility. The first proviso to section 2(15) of the Act carves out an exception which excludes advancement of any other object of general public utility from

DCIT (E) 2(1), MUMBAI vs. MUMBAI RAILWAY VIKAS CORPN LTD, MUMBAI

In the result, all the Four appeals filed by the revenue and four cross objections filed by the assessee are dismissed

Bench: Shri Rajesh Kumar & Shri Pavan Kumar Gadale

iv) preservation of environment including watersheds (forest and wildlife), (v) preservation of monuments and places or objects of artistic or historical importance, and (vi)advancement of any other object of general public utility. The first proviso to section 2(15) of the Act carves out an exception which excludes advancement of any other object of general public utility from

SAMIR NARAIN BHOJWANI ,MUMBAI vs. DCIT 4(2)(1), MUMBAI

Appeal of the assessee is allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

35. The Hon'ble High Court after referring the provisions of Section 50 held as under:- "4. While the contention of the revenue is that the asset in respect of which depreciation has been claimed when sold should always be assessed as short-term capital gains, the contention of the assessee is that unless the asset sold forms part