DCIT CEN 5 3, MUMBAI, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

5 as under : amendment in Rule 5 as under :- Under the existing provisions of Section 44 of the Incom Under the existing provisions of Section 44 of the Incom Under the existing provisions of Section 44 of the Income Tax Act, the profits and gains of any insurance business is Act, the profits and gains of any insurance business

DCIT CEN 5 3, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

5 as under : amendment in Rule 5 as under :- Under the existing provisions of Section 44 of the Incom Under the existing provisions of Section 44 of the Incom Under the existing provisions of Section 44 of the Income Tax Act, the profits and gains of any insurance business is Act, the profits and gains of any insurance business

ACIT 23-1, MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

Accordingly, Ground No. 6 raised by the Revenue is dismissed

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

disallowance of exemption claimed u/s. 10(35) of the Act is deleted." 16. Against the above order Revenue is in appeal before us. 17. We have heard both the parties and perused the records. Learned Departmental Representative relied upon the order of the Assessing Officer. However, he could not point out as to why assessee shall not be allowed exemption

ACIT-231, MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

Accordingly, Ground No. 6 raised by the Revenue is dismissed

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

disallowance of exemption claimed u/s. 10(35) of the Act is deleted." 16. Against the above order Revenue is in appeal before us. 17. We have heard both the parties and perused the records. Learned Departmental Representative relied upon the order of the Assessing Officer. However, he could not point out as to why assessee shall not be allowed exemption

ACIT, PIRAMAL CHAMBERS vs. MILESTONE REAL ESTATE FUND, MUMBAI

5 raised by the Revenue are dismissed.\nGround No. 6\n24.\nWe note that even the contention raised by the Revenue\nregarding investments made by the Assessee in the units of\nmutual fund leading to violation of the terms of trust deed and\nthe terms/condition on which registration as Venture Capital\nFund was granted to the Assessee by SEBI were

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

5: Denying the exemption under the provisions of section 10(35) of the Act section 10(35) of the Act Without prejudice to the above, on the facts and circumstances of the Without prejudice to the above, on the facts and circumstances of the Without prejudice to the above, on the facts and circumstances of the case

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

5: Denying the exemption under the provisions of section 10(35) of the Act section 10(35) of the Act Without prejudice to the above, on the facts and circumstances of the Without prejudice to the above, on the facts and circumstances of the Without prejudice to the above, on the facts and circumstances of the case

RAMKRISHNA BAJAJ CHARITABLE TRUST,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 26(1), MUMBAI, MUMBAI

Bench: Shri Amit Shukla, Jm & Shri Arun Khodpia, Am

5 Ramkrishna Bajaj Charitable Trust 7.3. With respect to decision of disallowing the exemption claimed u/s 10(34) of the IT Act, as described earlier, since the appellant is held in the status of the trust and itself had filed its return of income in Form ITR-7, the governing provisions which deal with its income are section

ITO(E)-1(1), MUMBAI, MUMBAI vs. BHAVITHA FOUNDATION, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2021-22

disallowed the benefit of dividend income for exemption u/s 11 of the Act and made addition of Rs.48,70,00 the Act and made addition of Rs.48,70,00,000/- to the returned to the returned income of the assessee. income of the assessee. 3. On further appeal, the Ld. CIT(A) deleted the addition. On further appeal

.DCIT., CIR.-4(2),MUMBAI vs. M.M. POONJIAJI SPICES LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5. As the assessee company is engaged in the business of garlic powder, ginger powder, madras curry powder including pickles and spices et cetera, it also claimed deduction under section 10 B of the act of rupees to .27 crores being hundred percent of the profits derived from the business of preparation and export of powder, seeds, pickles, spices, paste

ITO - 4(2)(4), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5. As the assessee company is engaged in the business of garlic powder, ginger powder, madras curry powder including pickles and spices et cetera, it also claimed deduction under section 10 B of the act of rupees to .27 crores being hundred percent of the profits derived from the business of preparation and export of powder, seeds, pickles, spices, paste

INCOME TAX OFFICER 4(2)(4), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5. As the assessee company is engaged in the business of garlic powder, ginger powder, madras curry powder including pickles and spices et cetera, it also claimed deduction under section 10 B of the act of rupees to .27 crores being hundred percent of the profits derived from the business of preparation and export of powder, seeds, pickles, spices, paste

ACIT CIR 4(2), MUMBAI vs. M .M. POONJIAJI SPICES LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5. As the assessee company is engaged in the business of garlic powder, ginger powder, madras curry powder including pickles and spices et cetera, it also claimed deduction under section 10 B of the act of rupees to .27 crores being hundred percent of the profits derived from the business of preparation and export of powder, seeds, pickles, spices, paste

I.T.O-4(2)(4), MUMBAI vs. M/S M.M.POONJIAJI SPICES LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5. As the assessee company is engaged in the business of garlic powder, ginger powder, madras curry powder including pickles and spices et cetera, it also claimed deduction under section 10 B of the act of rupees to .27 crores being hundred percent of the profits derived from the business of preparation and export of powder, seeds, pickles, spices, paste

ITO - 4(2)(2), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5. As the assessee company is engaged in the business of garlic powder, ginger powder, madras curry powder including pickles and spices et cetera, it also claimed deduction under section 10 B of the act of rupees to .27 crores being hundred percent of the profits derived from the business of preparation and export of powder, seeds, pickles, spices, paste

ITO - 4(2)(4), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5. As the assessee company is engaged in the business of garlic powder, ginger powder, madras curry powder including pickles and spices et cetera, it also claimed deduction under section 10 B of the act of rupees to .27 crores being hundred percent of the profits derived from the business of preparation and export of powder, seeds, pickles, spices, paste

ADITYA BIRLA PRIVATE EQUITY TRUST ,MUMBAI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI (INCOME TAX OFFICER 20(1)(1), MUMBAI), MUMBAI

In the result, appeal filed by the assessee is allowed

disallowed. Identical is the situation\nin the present appeal. When there is no restriction imposed under\nsection 10(23FB) of the Act with regard to availing of exemption\nunder section 10(34) and 10(35) of the Act, the assessee's claim\ncannot be denied.\nPage No. 21\nITA NO.91/MUM/2024 (A.Y. 2016-17)\nAditya Birla Private Equity Trust

DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-1(1), MUMBAI, MUMBAI vs. ALL INDIA GEM AND JEWELLERY DOMESTIC COUNCIL, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2015-16

10 and thereafter claimed various deductions under section 11 of the Act. Thus, the AO has wrongly deductions under section 11 of the Act. Thus, the AO has wrongly deductions under section 11 of the Act. Thus, the AO has wrongly applied the proposition of law laid down by Hon'ble Bombay High Court applied the proposition of law laid