MAGNUM INFRAPROJECTS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri G.S.Pannu & Shri Amarjit Singhto M/S. Magnum Infraprojects Pvt. Ltd. 1201-A, Shatrunjaya Darshan Co-Op. Housing Society Ltd., Sheth Motisha Cross Lane, Byculla (E), Mumbai- 400027 Pan:Aaccm4472D ...... Appellant Vs. The Acit, Central Cir.45, Mumbai .... Respondent

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Sr. Name, PAN, Address No. of % shareholding Any sum credited Specify head & No. and contact no. of shares to equity amount

MAGNUM INFRAPROJECTS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri G.S.Pannu & Shri Amarjit Singhto M/S. Magnum Infraprojects Pvt. Ltd. 1201-A, Shatrunjaya Darshan Co-Op. Housing Society Ltd., Sheth Motisha Cross Lane, Byculla (E), Mumbai- 400027 Pan:Aaccm4472D ...... Appellant Vs. The Acit, Central Cir.45, Mumbai .... Respondent

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Sr. Name, PAN, Address No. of % shareholding Any sum credited Specify head & No. and contact no. of shares to equity amount

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Name, PAN, Any sum Specify Address and credited to head & contact no. No.of %shareh equity amount Sr.No. of the party shares

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Name, PAN, Any sum Specify Address and credited to head & contact no. No.of %shareh equity amount Sr.No. of the party shares

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Name, PAN, Any sum Specify Address and credited to head & contact no. No.of %shareh equity amount Sr.No. of the party shares

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Name, PAN, Any sum Specify Address and credited to head & contact no. No.of %shareh equity amount Sr.No. of the party shares

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Name, PAN, Any sum Specify Address and credited to head & contact no. No.of %shareh equity amount Sr.No. of the party shares

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Name, PAN, Any sum Specify Address and credited to head & contact no. No.of %shareh equity amount Sr.No. of the party shares

AVARSEKAR & SONS P.LTD,MUMBAI vs. ASST CT CEN CIR 45, MUMBAI

In the result, the penalty levied of Rs

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

disallowed, a separate list thereof for the period A.Y. 2006-07 to A.Y. 2012-13. 24. Submit list of equity shareholders holding shares more than 10 percent individually along with add5ress/PAN for A.Y. 2006-07 to A.Y. 2012-13. Name, PAN, Any sum Specify Address and credited to head & contact no. No.of %shareh equity amount Sr.No. of the party shares

M/S. MEREMMA BASAVARAJ BELLI,MUMBAI vs. ADIT,CPC, BENGALURE

In the result, appeal by the assessee is partly allowed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

disallowance of Rs.15,97,144, on account of alleged delay in payment towards employee’s contribution to Employees State Insurance Corporation Scheme (ESIC) and Provident Fund (P.F.) under section 36(1)(va) r/w section 2(24) of the Act, by the Centralized Processing Centre, Bengaluru, while processing the income tax return under section 143(1) of the Act, which

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed, as indicated above

Bench: Sri Mahavir Singh, Vp & Sri G Manjunatha, Am आयकर अपील सुं./ Ita No. 3644/Mum/2016 (ननर्ाारण वर्ा / Assessment Year 2008-09) State Bank Of India The Dy. Commissioner Of 3Rd Floor, Corporate Centre Income Tax, Circle -2(2)(1) बनाम/ Madam Cama Road Mumbai Vs. Nariman Point Mumbai-400021 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacs8577K

b. Specific provision of sections 36(1)(iv)/36(1)(v) and 40A(7)/40A(9) of the Act are applicable to the pension liability. Further, the same should only be allowed on payment basis as per section 43B of the Act. Hence, a general provision like section 37(1) of the Act cannot apply. 18. We noted that

M/S. ATUL PROJECTS INDIA P LTD,MUMBAI vs. DCIT- 9(1)(2) (NOW JURIDICTION WITH DC CC 2(4)), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance u/s.37(1) - - - Ground No.8 - r.w.s.36(1)(iii) Addition made u/s.69C - - - - Ground No.5 to 7 Assessment order passed Addition Addition - Addition without issue of notice Ground No.1 Ground No.1 Ground No.1 u/s.143(2) Assessment u/s.153C of Addition completed proceedings Ground No.2 can be made only on the basis of incriminating material Assessment order passed Addition Addition - Addition without DIN Ground

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance u/s.37(1) - - - Ground No.8 - r.w.s.36(1)(iii) Addition made u/s.69C - - - - Ground No.5 to 7 Assessment order passed Addition Addition - Addition without issue of notice Ground No.1 Ground No.1 Ground No.1 u/s.143(2) Assessment u/s.153C of Addition completed proceedings Ground No.2 can be made only on the basis of incriminating material Assessment order passed Addition Addition - Addition without DIN Ground

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance u/s.37(1) - - - Ground No.8 - r.w.s.36(1)(iii) Addition made u/s.69C - - - - Ground No.5 to 7 Assessment order passed Addition Addition - Addition without issue of notice Ground No.1 Ground No.1 Ground No.1 u/s.143(2) Assessment u/s.153C of Addition completed proceedings Ground No.2 can be made only on the basis of incriminating material Assessment order passed Addition Addition - Addition without DIN Ground

M/S. ATUL PROJECTS INDIA PVT LTD.,,MIMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance u/s.37(1) - - - Ground No.8 - r.w.s.36(1)(iii) Addition made u/s.69C - - - - Ground No.5 to 7 Assessment order passed Addition Addition - Addition without issue of notice Ground No.1 Ground No.1 Ground No.1 u/s.143(2) Assessment u/s.153C of Addition completed proceedings Ground No.2 can be made only on the basis of incriminating material Assessment order passed Addition Addition - Addition without DIN Ground

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance u/s.37(1) - - - Ground No.8 - r.w.s.36(1)(iii) Addition made u/s.69C - - - - Ground No.5 to 7 Assessment order passed Addition Addition - Addition without issue of notice Ground No.1 Ground No.1 Ground No.1 u/s.143(2) Assessment u/s.153C of Addition completed proceedings Ground No.2 can be made only on the basis of incriminating material Assessment order passed Addition Addition - Addition without DIN Ground

ACIT (LTU)-1, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

In the result, appeal of the assessee is allowed

b) to sub section (2) of section 115.JB of\nthe Income-tax Act inserted by Finance Act, 2012 w.e.f. 1-4-2013, that is,\nfrom assessment year 2013-14 onwards, are not applicable to the banks\nconstituted as 'corresponding new bank' in terms of the Banking Companies\n(Acquisition and Transfer of Undertakings) Act, 1970 and therefore, the\nprovision

DY. COMMISSIONER OF INCOME-TAX, MUMBAI vs. QUANTUM ADVISORS PVT. LTD., MUMBAI

In the result, the appeal of the Revenue is allowed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2015-16 Dcit-1(3)(1), M/S Quantum Advisors Pvt. Ltd., Room No. 535, 5Th Floor, 503, Regent Chambers, Nariman Vs. Aayakar Bhavan, Point, Mumbai-400021. M.K. Road, Mumbai-400020. Pan No. Aaacq 0281 C Appellant Respondent

144/- paid to M/s Quantum Advisors Pvt. Ltd. 3 M/s Quantum Advisors Pvt. Ltd. associated company (related party) namely M/s QIEF namely M/s QIEF management LPP, Mauritius (in (in short short ‘QIEF’) ‘QIEF’) and (ii) disallowance disallowance of of Rs.2,33,69,884/- out of fee paid to subsidiary company namely out of fee paid to subsidiary company namely