MRS. SPUREET KAUR NAGI,MUMBAI vs. ACIT CC 20, MUMBAI

In the result ground number 9 of the appeal is allowed

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

section 69A of the Act. Accordingly, ground no. 1 of the appeal is allowed. 44. Ground no. 2 is with respect to the disallowance of expenditure. We find that assessee has given a detailed summary of expenditure, which are reproduced at page no. 2 of the assessment order. The complete detail of ₹10,54,973/- of various expenditure includes depreciation

MRS. SPUREET NAGI,MUMBAI vs. ACIT CC-20,, MUMBAI

In the result ground number 9 of the appeal is allowed

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

section 69A of the Act. Accordingly, ground no. 1 of the appeal is allowed. 44. Ground no. 2 is with respect to the disallowance of expenditure. We find that assessee has given a detailed summary of expenditure, which are reproduced at page no. 2 of the assessment order. The complete detail of ₹10,54,973/- of various expenditure includes depreciation

MRS. SPUREET NAGI,MUMBAI vs. ACIT CC-20, , MUMBAI

In the result ground number 9 of the appeal is allowed

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

section 69A of the Act. Accordingly, ground no. 1 of the appeal is allowed. 44. Ground no. 2 is with respect to the disallowance of expenditure. We find that assessee has given a detailed summary of expenditure, which are reproduced at page no. 2 of the assessment order. The complete detail of ₹10,54,973/- of various expenditure includes depreciation

MRS. SUPREET KAUR NAGI,MUMBAI vs. ACIT CC 20, MUMBAI

In the result ground number 9 of the appeal is allowed

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

section 69A of the Act. Accordingly, ground no. 1 of the appeal is allowed. 44. Ground no. 2 is with respect to the disallowance of expenditure. We find that assessee has given a detailed summary of expenditure, which are reproduced at page no. 2 of the assessment order. The complete detail of ₹10,54,973/- of various expenditure includes depreciation

MRS. SPUREET NAGI,MUMBAI vs. ACIT CC-20,, MUMBAI

In the result ground number 9 of the appeal is allowed

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

section 69A of the Act. Accordingly, ground no. 1 of the appeal is allowed. 44. Ground no. 2 is with respect to the disallowance of expenditure. We find that assessee has given a detailed summary of expenditure, which are reproduced at page no. 2 of the assessment order. The complete detail of ₹10,54,973/- of various expenditure includes depreciation

MAHADHAN AGRITECH LIMITED (FORMERLY KNOWN AS SMARTCHEM TECHNOLOGIES LIMITED ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -8(1), MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 32, which deals with depreciation allowable on transferred assets under the scheme of amalgamation. Issue No. 3 – Addition u/s 69A

DCIT CENTRAL CIRCLE 8(1), MUMBAI vs. MAHADHAN AGRITECH LIMITED, PUNE

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 32, which deals with depreciation allowable on transferred assets under the scheme of amalgamation. Issue No. 3 – Addition u/s 69A

MAHADHAN AGRITECH LIMITED (FORMERLY KNOWN AS SMARTECH TECHNOLOGIES LTD ,MUMBAI vs. COMMISSIONER OF INCOME TAX (APPEALS)-MUMBAI.50, MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 32, which deals with depreciation allowable on transferred assets under the scheme of amalgamation. Issue No. 3 – Addition u/s 69A

MAHADHAN AGRITECH LIMITED (FORMERLY KNOWN AS SMARTCHEM TECHNOLOGIES LTD ,MUMBAI vs. COMMISSIONER OF INCOME TAX(APPEAL)--50, MUMAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 32, which deals with depreciation allowable on transferred assets under the scheme of amalgamation. Issue No. 3 – Addition u/s 69A

INNOVATIVE CONSTRUCTION P. LTD,MUMBAI vs. ACIT 12 (2)(2), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Blem/S. Innovative Construction Pvt. Ltd., V. Acit – 12(2)(2) 1St Floor, Samir Complex Room No. 145, 1St Floor St. Andrews Road, Bandra (W) Aayakar Bhavan, M.K. Road Mumbai – 400050 Mumbai – 400 020 Pan: Aaaci1573M (Appellant) (Respondent) Assessee By : Shri Yogesh A. Thar Department By : Ms. Shreekala Pardeshi

69A or Section 69C or Section 69D.” The intention of the legislature in introducing the amendment, as stated in the explanatory note, is to avoid unnecessary litigation and to expressly provide that no set off of any loss shall be allowable in respect of income under Section 68. Therefore, it has to be held that, as on the relevant date

MAHADHAN AGRITECH LIMITED (FORMERLY KNWON AS SMARTECH TECHNOLOGIES LTD ) ,MUMBAI vs. COMMISSIONER OF INCOME TAX (APPEALS)-MUMBAI-50, MUMBAI

In the result, the appeals filed by the assessee are\nallowed, and the appeal filed by the Revenue is dismissed

Section 32, which deals\nwith depreciation allowable on transferred assets under the\nscheme of amalgamation.\nIssue No. 3 – Addition u/s 69A

MAHADHAN AGRITECH LIMITED (FORMERLY KNOWN AS SMARTCHEM TECHNOLOGIES LTD),MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(1), MUMBAI

In the result, the appeals filed by the assessee are\nallowed, and the appeal filed by the Revenue is dismissed

Section 32, which deals\nwith depreciation allowable on transferred assets under the\nscheme of amalgamation.\nIssue No. 3 – Addition u/s 69A

THE ESTATE INVESTMENT COMPANY PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE 8(1), MUMBAI

3012/Mum/2025

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

69A to the extent of Rs.8,81,10,000/- not appreciating that the Assessing Officer had taken a judicious call in adding the amounts involved in the entries in the hands of the entities in respect of which the assessee was able to provide complete documentary evidences and only added the amounts of cash involved in the entries in respect

ACIT CEN CIR 13, MUMBAI vs. 'A' STAR EXPORTS, MUMBAI

In the result, both appeals of the revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.4411/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S ‘A’ Star Exports, No.1103, 11Th Floor Old Cgo 114/116, Mittal Court, C- Wing, 11Th Floor, Nariman Building (Annex.) M.K.Road, Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabfv 4508 K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.4412/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Diamonds No.1103, 11Th Floor Old Cgo International Pvt. Ltd., Building (Annex.) M.K.Road, 114, Mittal Court, C- Wing, 11Th Floor, Nariman Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacp 4726 H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

69A was business sales. (iii) Whether on the facts and circumstances of the case and in law, the learned CIT(A) erred in treating the loss on sale of the diamonds as genuine without appreciating the fact that the assessee has sold the stock at much lower rate than that arrived at by the Government Valuer. " (iv) Whether

ACIT CEN CIR 13, MUMBAI vs. ASIAN STAR DIAMONDS ITERNATIONAL P.LTD, MUMBAI

In the result, both appeals of the revenue are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.4411/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S ‘A’ Star Exports, No.1103, 11Th Floor Old Cgo 114/116, Mittal Court, C- Wing, 11Th Floor, Nariman Building (Annex.) M.K.Road, Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabfv 4508 K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.4412/Mum/2014 (नििाारण वषा / Assessment Years : 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Diamonds No.1103, 11Th Floor Old Cgo International Pvt. Ltd., Building (Annex.) M.K.Road, 114, Mittal Court, C- Wing, 11Th Floor, Nariman Mumbai-400020 Point, Mumbai-400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaacp 4726 H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

69A was business sales. (iii) Whether on the facts and circumstances of the case and in law, the learned CIT(A) erred in treating the loss on sale of the diamonds as genuine without appreciating the fact that the assessee has sold the stock at much lower rate than that arrived at by the Government Valuer. " (iv) Whether

THE ESTATE INVESTMENT COMPANY PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE 8(1), MUMBAI

section 147 cannot be used as a ploy for roving verification or fishing enquiry into completed matters.\n\n63\nITA No.3012/Mum/2025 and others\nThe Estate Investment Company Pvt. Ltd. and others\nThe Assessing Officer's act of extrapolating entries found in one year to reopen other years is precisely the mischief which the Court sought to prevent. On this count

TATA MOTORS LTD,MUMBAI vs. DCIT LTU 2, MUMBAI

In the result, appeal of the assessee is allowed

Depreciation-Rs. 1,316.80 crores and unabsorbed Business Loss - Rs. 799.37 crores 7.8. It is submitted that even 'Long term Capital Gains' is taxable at the rate of 20% or 10%, as the case may be, whereas business income is taxable at marginal rate of 30%, however, still set-off of such loss is permissible as per the provisions

TATA MOTORS LTD,MUMBAI vs. DCIT LTU 2, MUMBAI

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 3424/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2013-14)

depreciation - Rs. 1,360.51 crores and Unabsorbed Business Loss - Rs. 2,113.98 crores 4.7. It is submitted that even 'Long term Capital Gains' is taxable at the rate of 20% or 10%, as the case may be, whereas business income is taxable at marginal rate of 30%, however, still set-off of such loss is permissible as per the provisions