INCOME TAX OFFICER-25(3)(5), MUMBAI vs. NILIMA ABHIJIT TANNU, MUMBAI

Bench: Hon’Ble Shri Sandeep Gosain, Jm & Hon’Ble Shri G. Manjunatha, Am

disallowance 5 I.T.A. No. 5923/Mum/2017 and C.O. No. 333/Mum/2018 Nilima Abhijit Tannu of Rs. 82,89,448/- on account of exemption u/s 54F of the Act made by the AO. 8. Ld. DR appearing on behalf of the revenue relied upon the orders passed by AO and submitted that as per section 54F of the Act, the amount

M.P.RE-CYCLING CO. PVT LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), MUMBAI

In the result, appeal of the assessee is allowed

disallowance of carried forward of losses, he rejected the assessee’s contention holding that the ld. AO has rightly treated the return of income filed by the assessee on 14/10/2016 as invalid. According to him, since assessee has filed the return of income beyond the time limit u/s. 139(1), the ld. AO was correct in not allowing them

M/S G.L.CONSTRUCTION PVT LTD,MUMBAI vs. ACIT/NATIONAL FACE LESS APPEAL CENTRE, MUMBAI

In the result, the appeal of the assessee is partly allowed for In the result, the appeal of the assessee is partly allowed for In the result, the appeal of the assessee is partly allowed for stati...

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2019-20 M/S G.L. Construction Pvt. Ltd, Acit/National Faceless 304, Gokul Arcade B, Subhash Appeal Centre, Road, Near Garware, Vs. 5Th Floor, Aayakar Bhavan, Vile Parle East, Churchgate, Mumbai-400057. Mumbai-400020. Pan No. Aaacg 3438 P Appellant Respondent Assessee By : Mr. N.R. Agrawal, Ar Revenue By : Smt. Sonia Kumar, Dr : Date Of Hearing 16/02/2023 : Date Of Pronouncement 23/02/2023

section 139; (iv) disallowance of expenditure indicated in the audit report (iv) disallowance of expenditure indicated in the audit report (iv) disallowance of expenditure indicated in the audit report but not taken into account in comput but not taken into account in computing the total income in the ing the total income in the return:" 3.4. The indication of disallowance

GILBARCO VEEDER,COIMBATORE vs. DCIT CIR 1(1)(2), MUMBAI

In the result, the assessee’s appeal is allowed

Bench: Shri Shamim Yahya, Am & Shri Pawan Singh, Jm

5. The A.O. was not satisfied with the claim of the assessee. He made the disallowance holding that the enhanced claim in the revised return cannot be allowed, as the same was in violation of the provision of section 80 and section 139

DCIT- 5(2)(1), MUMBAI vs. JSW INFRASTRUCTURE LTD., MUMBAI

Bench: Shri Vikas Awasthy & Shri G. Manjunatha

disallowance made u/s 80IA without appreciating the fact that the assessee made no such claim in its return u/s 139(1) which was mandatory in view of the provisions of section 80A(5

DHARMISTA MEHTA,MUMBAI vs. ITO 34(1)(3), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T Varkey & Shri Gagan Goyaldr. Dharmista Mehta 22/5, Walchand Terraces, Opp. A.C. Market, Tardeo, Mumbai - 400043. Pan: Aafpm5272R ...... Appellant Vs. Ito-34(1) (3), Income Tax Office Building, Pratyakshakar Bhavan, Bkc, Bandra (East), Mumbai-400051. ..... Respondent Appellant By : Sh. Satish Mody Respondent By : Smt. Mahita Nair, Cit-Dr Date Of Hearing : 18/07/2022 Date Of Pronouncement : 12/10/2022 Order Per Gagan Goyal, A.M: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-46, Mumbai [Hereinafter Referred To As [‘Cit(A)’] Dated 31.01.2017 Passed Under Section 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As [‘The Act’] For The Assessment Year (Ay) 2012-13. The Assessee Has Raised The Following Grounds Of Appeal:

section 139(1) only. AO was not convinced with the argument advanced by the assessee in her favour and disallowed the claim of the assessee. Being aggrieved, assessee preferred an appeal before the Ld. CIT (A)-46, Mumbai. 5

MTITANIUM APARTMENTS PVT LTD,MUMBAI vs. DY. CIT CIRCLE 1(2)(1), MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Ms. Suchitra Raghunath Kamble () Assessment Year: 2024-2025 Mtitanium Apartments Pvt. Ltd., Dy. Cit-Circle 1(2)(1), 2Nd Floor, Shreeniwas House, Range 412, Aayakar Bhawan, Hazarimal Somani Marg, Fort, Vs. M.K. Road, Churchgate, Mumbai-400 001. Mumbai-400020. Pan No. Aafcm 6810 Q Appellant Respondent

disallowance made of set-off of brought forward business losses ought to be allowed, considering brought forward business losses ought to be allowed, considering brought forward business losses ought to be allowed, considering the facts and circumstances of the case and principle of natural the facts and circumstances of the case and principle of natural the facts and circumstances

ELARA CAPITAL (INDIA) PRIVATE LIMITED,MUMBAI vs. ACIT- CIRCLE 6(2)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Elara Capital (India) Pvt. Ltd., The Acit-Circle 6(2)(2), Tower 3, 21St Floor, One Room No. 506, 5Th Floor, Vs. International Center, Senapati Aayakar Bhavan, Maharshi Bapat Marg, Elphinstone Karve Road, Mumbai- Road (West), Mumbai-400013. 400020. Pan No. Aabce 6487 B Appellant Respondent

5 of the Act, is made qua real income and not, vis notional income. notional income 12.1 The Division Bench went on to hold that Section 4 The Division Bench went on to hold that Section 4 The Division Bench went on to hold that Section 4 of the Act brings to tax, that income, which is relatable

ITO WARD - 1(3), THANE, THANE vs. KALPANA PRADEEP AMBRE, THANE

Appeal is dismissed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2012-13 Income Tax Officer, Smt. Kalpana Pradeep Ward-1(3), Ambre, बनाम/ Room No.10, 6Th Floor, 1801, Pristine Vasant Lawns, Vs. Ashar It Park, B-Wing, Pokhran Road No.2, Wagle Indl. Estate, Majiwada, Thane(W)-400604 Thane(W) (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.Aafpc0868D

139(1) and disallowed the exemption claimed under section 54F of the Act resulted into addition of Rs.56,93,329/- to the returned income. 2.2. On appeal before the Ld. Commissioner of Income Tax (Appeal), the factual matrix was considered and considering the decision of the Tribunal in the case of Kishore H. Galaiya and further the decision from

STRIDES PHARMA SCIENCE LTD.,NAVI MUMBAI vs. THE DY CIT -5(1)(2), MUMBAI

In the result ITA number 1004/M/2021 filed by the assessee for assessment year 2016 – 17 is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Strides Pharma Science Ltd. Dcit 15(1)(2) 201, Devavrata, Sector-17, Aayakar Bhavan, M K Road, Vs. Vashi, Navi Mumbai, 400703 Mumbai 400020 (Appellant) (Respondent) Pan No. Aadcs8104P

5 of the appeal is allowed with above directions. 28. Ground number 6 is with respect to the disallowance under section 14 A of the act whether it needs to be imputed on increased to the book profit computed under section 115JB of the act has already been decided by the honourable Bombay High Court in CIT versus JSW energy

VAIJANTHI MAHAVIR OZA,MUMBAI vs. INCOME TAX OFFICER(IT)-3(3)(1), MUMBAI

In the result, appeal of the assessee in ITA no

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.5799/Mum/2017 (नििाारण वर्ा / Assessment Year: 2014-15) बिाम/ Vaijanthi Mahavir Oza, Income Tax Officer- C/O. Chhajed & Doshi, (International Taxation)- 101, Hubtown Solaris, 3(3)(1) V. N.S Phadke Marg, Room No. 1628, Near East West Flyover, 16Th Floor Andheri (E), Air India Building Mumbai- 400069 Mumbai स्थायी ऱेखा सं./ Pan: Abepo5631J (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Piyush Chhajjed Revenue By: Miss. Deepika Arora (Dr) सुनवाई की तारीख /Date Of Hearing : 09.01.2019 घोषणा की तारीख /Date Of Pronouncement : 03.04.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 5799/Mum/2017, Is Directed Against Appellate Order Dated 23.06.2017, Passed By Learned Commissioner Of Income Tax (Appeals)-57, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2014-15, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 23.12.2016 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2014-15. I.T.A. No.5799/Mum/2017

disallowing the claim on the basis of the following: i. By making a reference to section 1 of the Act which relates to Short title, extent and commencement of the Act and mentions that the Act extends to the whole of India. The AO's view is that the assessee cannot claim benefit of section 54 for purchase of residential

AKRY ORGANICS PRIVATE LIMITED ,MUMBAI vs. INCOME TAX OFFICER CENTRAL CIRCLE 1(1)(1), MUMBAI

In the result, we allow the claim of the assessee for deduction under section 80-IA(4) to the extent of ₹17,40,75,413/-, as made in the revised return of income

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

139(5) to file a revised return of income for the said assessment year. The revised return was filed on 31/03/2022, declaring a reduced income of ₹28,76,30,831/– under the normal provisions, while book profit under section 115JB remained unchanged at ₹51,56,89,003/–. Along with this revised return, the assessee also uploaded Form No. 10CCB which

ITO WD 3(4), THANE vs. UMA DEVELOPERS, MUMBAI

In the result, Revenue’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosainincome Tax Officer-3(4) M/S. Uma Developers 6Th Floor, Ashar It Park Shop No. 2, Mayur Chs Ltd. Vs. Road No. 16Z, Wagle Indl. M.G. Road, Naupada Estate, Thane (W) 400601 Thane (W) - 400602 Pan - Aabfu8250F Appellant Respondent

section. 5 M/s. Uma Developers 8. The issue involved in the instant case is whether when the appellant has not filed return of income within the time allowed u/s 139(1) but has filed the same within the time allowed u/s 139(4), can deduction u/s 801B(10) be disallowed

DR. PRABHA ATRE FOUNDATION,MUMBAI vs. INCOME TAX EXEMPTION WARD 1(2), MUMBAI, MUMBAI

In the result, appeal of the assessee is allowed

Bench: Sandeep Singh Karhail & Shri Girish Agrawalassessment Year: 2020-21

disallowance of expenditure incurred for the charitable purposes amounting to Rs.19,18,602/- by way of adjustment made by CPC while processing return u/s.143(1)(a). Appeal of the assessee was thus dismissed. Aggrieved, assessee is in appeal before the Tribunal. 5. Before us, ld. Counsel reiterated the above facts and circumstances which are not repeated for the sake

RANI JAGDISH SAHDEVAN,MUMBAI vs. ITO 25 (3)(3), MUMBAI

In the result, appeal by the assessee is dismissed in terms of our aforesaid findings

Bench: Shri Sandeep Singh Karhail & Shri Gagan Goyal

139(1) of the Income Tax Act.‖ Accordingly, the Assessing Officer disallowed the claim of exemption made by the assessee under section 54 of the Act of Rs.24,25,000, and computed the Long Term Capital Gain at Rs.24,18,885. 5

ZOETIS PHARMACEUTICALS RESEARCH P. LTD,MUMBAI vs. ACIT 11(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.3715/Mum/2018 (नििाारण वर्ा / Assessment Year : 2014-15) बिाम/ Zoetis Pharmaceutical Acit 11(3)(2) Research P. Ltd., Mumbai 31, Level-3, V. Kalpataru Synergy, Opp. Grand Hyatt, Santacruz (E), Mumbai-400055 स्थायी ऱेखा सं./ Pan : Aadcp5293L (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Siddharth Shah Revenue By : Shri. C.S. Sharma, Dr सुनवाई की तारीख /Date Of Hearing : 19.09.2018 घोषणा की तारीख /Date Of Pronouncement : 26.09.2018 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 3715/Mum/2018, Is Directed Against Appellate Order Dated 31.03.2018 Passed By Learned Commissioner Of Income Tax (Appeals)-18, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2014-15, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 28.12.2016 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2014-15. I.T.A. No.3715/Mum/2018

disallowance u/s 14A is warranted in the case of the assessee as no exempt income was received or receivable by the assessee on these investments during relevant previous year. Another belief which led assessee in filing revised return of income u/s 139(5) was that these investments were strategic investments in subsidiary company and hence Section

SHREE DADAR JAIN PAUSHADHSHALA TRUST,MUMBAI vs. ITO (E_ - 1(2), MUMBAI

In the result, the appeal of the assessee in ITA no

Bench: Shri Pawan Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2061/Mum/2019 (नििाारण वर्ा / Assessment Year: 2014-15) बिाम/ Shree Dadar Jain Ito(E)-1(2) Paushadhshala Trust, Room No. 501, 5 Th Floor, Aaradhana Bhavan, Piramal Chambers, V. 289, S K Bole Road, Lalbaug, Parel, Dadar West, Mumbai-400012 Mumbai-400028 स्थायी ऱेखा सं./ Pan: Aaats7848E (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri. Bhadresh Doshi Revenue By: Shri. Abhi Rama Karthikeyn S. सुनवाई की तारीख /Date Of Hearing : 03.06.2019 घोषणा की तारीख /Date Of Pronouncement : 19.08.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 2061/Mum/2019, Is Directed Against Appellate Order Dated 08/02/2019, Passed By Learned Commissioner Of Income Tax (Appeals)-3, Mumbai (Hereinafter Called ―The Cit(A)‖) In Appeal Number Cit(A)-3/It-10394/2017-18, For Assessment Year 2014-15, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 28.12.2006 Passed By Learned Assessing Officer (Hereinafter Called ―The Ao‖) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called ―The Act‖) For Ay:2014-15. 2. The Grounds Of Appeal Raised By Assessee In Memo Of Appeal Filed With The Income-Tax Appellate Tribunal, Mumbai (Hereinafter Called ―The Tribunal‖) Read As Under:-

5) of section 11 of the Act.” 7.3 It was further submitted by learned counsel for the assessee that audit report in form no. 10B was dully filed alongwith return of income on 25.03.2015 and it is only Form no. 10 which was later filed 14 | P a g e Page 15 of 33 physically before the AO during

HUBTOWN LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(4), MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

5 ITA Nos 1601 & 3038. /Mum/2025 Hubtown Limited section 153A, whereas a disallowance of Rs.7,00,80,808/- had been made in the original return filed under section 139

DCIT, MUMBAI vs. HUBTOWN LIMITED , MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

5 ITA Nos 1601 & 3038. /Mum/2025 Hubtown Limited section 153A, whereas a disallowance of Rs.7,00,80,808/- had been made in the original return filed under section 139