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

5(c) of the BR Act with a specified bank. The\nexpression 'specified bank' is defined in clause (c) of sub-section\n(7) thereof, as inter-alia meaning a corresponding new bank\nconstituted under section 3 of the Acquisition Act. Therefore,\namalgamation of a banking company with inter-alia\na\ncorresponding new bank would entitle the amalgamated entity\nfor

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

depreciation on such membership right. The Assessing Officer also 5 Techno Shares & Stocks Ltd. held that although Section 55(2

THE TATA POWER CO. LTD,MUMBAI vs. ITO RG 2(1)(1), MUMBAI

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

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3078/Mum/2009 ("नधा"रण वष" / Assessment Year : 2002-03) The Tata Power Co. Ltd, The Asst. Commissioner Of बनाम/ Corporate Center, Block ‘B, Income Tax- Circle V. 5 Th Floor, 2(3),Aayakar Bhavan, 34, Sant Tukaram Road, Maharshi Karve Road, Carnac Bunder, Mumbai – 400 020. Mumbai – 400 009. "थायी लेखा सं./Pan : Aaact0054A (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

depreciation allowance or development ITA 3078/Mum/2009 35 rebate remained unabsorbed and, therefore, nothing could be deducted in respect of the set off while determining the deduction under section 80-I of the Act. Section 80-I was introduced by the Finance (No. 2) Act, 1980, with effect from April 1, 1981. The said sub-section deals with deduction in respect

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

5 of the KIAD Act. The assessee has been constituted to make provision for orderly establishment and development of Industries in suitable areas in the State of Karnataka. Section 6 of the KIAD Act deals with the constitution of the Board of the Assessee, which provides that the officers of the State Government, namely, the Secretary to the Government

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

5 of the KIAD Act. The assessee has been constituted to make provision for orderly establishment and development of Industries in suitable areas in the State of Karnataka. Section 6 of the KIAD Act deals with the constitution of the Board of the Assessee, which provides that the officers of the State Government, namely, the Secretary to the Government

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

5 of the KIAD Act. The assessee has been constituted to make provision for orderly establishment and development of Industries in suitable areas in the State of Karnataka. Section 6 of the KIAD Act deals with the constitution of the Board of the Assessee, which provides that the officers of the State Government, namely, the Secretary to the Government

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

5 of the KIAD Act. The assessee has been constituted to make provision for orderly establishment and development of Industries in suitable areas in the State of Karnataka. Section 6 of the KIAD Act deals with the constitution of the Board of the Assessee, which provides that the officers of the State Government, namely, the Secretary to the Government

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

5 of the KIAD Act. The assessee has been constituted to make provision for orderly establishment and development of Industries in suitable areas in the State of Karnataka. Section 6 of the KIAD Act deals with the constitution of the Board of the Assessee, which provides that the officers of the State Government, namely, the Secretary to the Government

EDWISE CONSULTANTS P.LTD,MUMBAI vs. ASST CIT 4(3), MUMBAI

In the result, all the three appeals filed by the assessee are allowed

Bench: S/Shri B.R.Baskaran, Am & Amarjit Singh, Jm आमकय अऩीर सं./I.T.A. No.5376/Mum/2011 & I.T.A. No.4121/Mum/2014 (ननधधायण वषा / Assessment Year: 2008-09 & 2010-11) बनाम/ Edwise Consultants Pvt.Ltd., Dy. Commissioner Of Income Tax, 4(3), Room No.649, Jer Mahal, Vs. 6Th Floor, Aayakar Bhavan, Opp. Metro Cinema, M K Road, Dhobi Talav, Mumbai-400020. Mumbai-400002 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

depreciation made in AY 2007-08. 5. We shall take up the first issue relating to disallowance made u/s 40A(2)(a) of the Act. In assessment year 2008-09, the assessee paid incentives to its three directors aggregating to Rs.45.00 lakhs. Since the identical incentive payments made to the directors in the immediately preceding year was disallowed, the assessing

EDWISE CONSULTANTS P.LTD,MUMBAI vs. DCIT 4(3), MUMBAI

In the result, all the three appeals filed by the assessee are allowed

Bench: S/Shri B.R.Baskaran, Am & Amarjit Singh, Jm आमकय अऩीर सं./I.T.A. No.5376/Mum/2011 & I.T.A. No.4121/Mum/2014 (ननधधायण वषा / Assessment Year: 2008-09 & 2010-11) बनाम/ Edwise Consultants Pvt.Ltd., Dy. Commissioner Of Income Tax, 4(3), Room No.649, Jer Mahal, Vs. 6Th Floor, Aayakar Bhavan, Opp. Metro Cinema, M K Road, Dhobi Talav, Mumbai-400020. Mumbai-400002 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

depreciation made in AY 2007-08. 5. We shall take up the first issue relating to disallowance made u/s 40A(2)(a) of the Act. In assessment year 2008-09, the assessee paid incentives to its three directors aggregating to Rs.45.00 lakhs. Since the identical incentive payments made to the directors in the immediately preceding year was disallowed, the assessing

EDWISE CONSULTANTS P. LTD,MUMBAI vs. ADDL CIT 4(3), MUMBAI

In the result, all the three appeals filed by the assessee are allowed

Bench: S/Shri B.R.Baskaran, Am & Amarjit Singh, Jm आमकय अऩीर सं./I.T.A. No.5376/Mum/2011 & I.T.A. No.4121/Mum/2014 (ननधधायण वषा / Assessment Year: 2008-09 & 2010-11) बनाम/ Edwise Consultants Pvt.Ltd., Dy. Commissioner Of Income Tax, 4(3), Room No.649, Jer Mahal, Vs. 6Th Floor, Aayakar Bhavan, Opp. Metro Cinema, M K Road, Dhobi Talav, Mumbai-400020. Mumbai-400002 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

depreciation made in AY 2007-08. 5. We shall take up the first issue relating to disallowance made u/s 40A(2)(a) of the Act. In assessment year 2008-09, the assessee paid incentives to its three directors aggregating to Rs.45.00 lakhs. Since the identical incentive payments made to the directors in the immediately preceding year was disallowed, the assessing

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.

section 2(28C) to mean a person appointed to be a Joint Commissioner of Income Tax or an Additional Commissioner of Income-tax under section 117(1). Section 151(2) mandates that the satisfaction has to be of the Joint Commissioner. The expression has a distinct meaning by virtue of the definition in 'section 2(28C). The Commissioner of Income

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

2(15) could not have been invoked to decline benefit of sections 11. The A.O. is therefore, directed to allow the assessee exemption u/s. 11 of the Act. 4. Aggrieved by the appellate order, the revenue has filed an appeal with the Tribunal. 5. At the time of hearing, the Ld.DR submitted that the CIT(A) has erred in granting

MEDLEY PHARMACEUTICALS LTD.,MUMBAI vs. DY.C.I.T., CENT.CIR.44, MUMBAI

In the result, the captioned appeals filed by the assessee are allowed

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

2) of section 80A and sub- section (5) of section 80B, the Calcutta High Court has held that the gross total income defined by section 80B(5) is the total income computed under the provisions of the Act, but before making any deductions under Chapter VI-A and if the total income computed under the Act before making the deductions

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

2(15) could not have been invoked to decline benefit of sections 11. The A.O. is therefore, directed to allow the assessee exemption u/s. 11 of the Act. 4. The Assessing Officer is not satisfied and is in appeal before us. 5. We have heard the rival contentions, perused the material on record and duly considered facts of the case

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

2(15) could not have been invoked to decline benefit of sections 11. The A.O. is therefore, directed to allow the assessee exemption u/s. 11 of the Act. 4. The Assessing Officer is not satisfied and is in appeal before us. 5. We have heard the rival contentions, perused the material on record and duly considered facts of the case

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

2(15) could not have been invoked to decline benefit of sections 11. The A.O. is therefore, directed to allow the assessee exemption u/s. 11 of the Act. 4. The Assessing Officer is not satisfied and is in appeal before us. CO No 42/Mum/20 ITA No. 2880/Mum/19 Assessment year: 2012-13 Page 28 of 37 5. We have heard

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 and sub-section (4) of section 35 of the Act or the second proviso to clause (ix) of sub- section (1) of section 36 shall not be applicable in relation to any such allowance or deduction. Similarly, no loss as referred to in sub-section (1) or in section 72 or sub-section (1) or subsection