PANKAJ ENTERPRISES,MUMBAI vs. JT CIT RG 25(3), MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

disallowance of interest paid on allowance of interest paid on loan amounting to ₹15,06, 15,06,920/-as loans not used for the purpose of for the purpose of the business and interest was paid to family members. the business and interest was paid to family members. the business and interest was paid to family members. 4.3 The assessment

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

164 of 2012]. The Division Bench dismissed the appeal with the following order:- 1. The instant appeal under section 260-A of the Income-tax Act, 1961 (for brevity, the Act) is directed against order dated 14.062012 passed by the Income Tax Appellate Tribunal, Amritsar, upholding the order withdrawing the status of Charitable Institution given to the appellant-assessee under

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

164 of 2012]. The Division Bench dismissed the appeal with the following order:- 1. The instant appeal under section 260-A of the Income-tax Act, 1961 (for brevity, the Act) is directed against order dated 14.062012 passed by the Income Tax Appellate Tribunal, Amritsar, upholding the order withdrawing the status of Charitable Institution given to the appellant-assessee under

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

164 of 2012]. The Division Bench dismissed the appeal with the following order:- 1. The instant appeal under section 260-A of the Income-tax Act, 1961 (for brevity, the Act) is directed against order dated 14.062012 passed by the Income Tax Appellate Tribunal, Amritsar, upholding the order withdrawing the status of Charitable Institution given to the appellant-assessee under

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

164 of 2012]. The Division Bench dismissed the appeal with the following order:- 1. The instant appeal under section 260-A of the Income-tax Act, 1961 (for brevity, the Act) is directed against order dated 14.062012 passed by the Income Tax Appellate Tribunal, Amritsar, upholding the order withdrawing the status of Charitable Institution given to the appellant-assessee under

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

164 of 2012]. The Division Bench dismissed the appeal with the following order:- 1. The instant appeal under section 260-A of the Income-tax Act, 1961 (for brevity, the Act) is directed against order dated 14.062012 passed by the Income Tax Appellate Tribunal, Amritsar, upholding the order withdrawing the status of Charitable Institution given to the appellant-assessee under

HDFC BANK LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX-2(3)(1), MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

Disallowance under section 14A – Ground No.1 22. The contention of the Revenue is that the CIT(A) erred in not appreciating that the amendment brought in by Finance Act 2022 to section 14A whereby it has been clarified that the provisions of section 14A can be invoked when the assessee has investments which have the potentional of yielding exempt income

HDFC BANK LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX-2(3)(1), MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

Disallowance under section 14A – Ground No.1 22. The contention of the Revenue is that the CIT(A) erred in not appreciating that the amendment brought in by Finance Act 2022 to section 14A whereby it has been clarified that the provisions of section 14A can be invoked when the assessee has investments which have the potentional of yielding exempt income

DCIT-2(3)(1), MUMBAI, MUMBAI vs. HDFC BANK LIMITED, MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

Disallowance under section 14A – Ground No.1 22. The contention of the Revenue is that the CIT(A) erred in not appreciating that the amendment brought in by Finance Act 2022 to section 14A whereby it has been clarified that the provisions of section 14A can be invoked when the assessee has investments which have the potentional of yielding exempt income

DCIT 2(3)(1), MUMBAI vs. HDFC BANK LIMITED , MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

Disallowance under section 14A – Ground No.1 22. The contention of the Revenue is that the CIT(A) erred in not appreciating that the amendment brought in by Finance Act 2022 to section 14A whereby it has been clarified that the provisions of section 14A can be invoked when the assessee has investments which have the potentional of yielding exempt income

DCIT 2(3)(1), MUMBAI vs. HDFC BANK LIMITED, MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

Disallowance under section 14A – Ground No.1 22. The contention of the Revenue is that the CIT(A) erred in not appreciating that the amendment brought in by Finance Act 2022 to section 14A whereby it has been clarified that the provisions of section 14A can be invoked when the assessee has investments which have the potentional of yielding exempt income

HDFC BANK LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX-2(3)(1), MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

Disallowance under section 14A – Ground No.1 22. The contention of the Revenue is that the CIT(A) erred in not appreciating that the amendment brought in by Finance Act 2022 to section 14A whereby it has been clarified that the provisions of section 14A can be invoked when the assessee has investments which have the potentional of yielding exempt income

SIR RATAN TATA TRUST,MUMBAI SUBURBAN vs. ADDITIONAL /JOINT/DEPUTY/ASSISTANT COMMISSIONER OF INCOME TAX, NFAC, MUMBAI

In the result, both the appeals of the assessee in both AY 2014-15 and AY

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

2), specific modes of investment/ deposits under section 11(5) and other related provisions of Section 13”. Satisfied with the details filed by the assessee, the Assessing Officer had no issues with respect to section 11 and 15, and he noted that the income derived from property held under trust, which included these investments, is covered by the exemption under

SIR RATAN TATA TRUST,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-2(1), MUMBAI

In the result, both the appeals of the assessee in both AY 2014-15 and AY

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

2), specific modes of investment/ deposits under section 11(5) and other related provisions of Section 13”. Satisfied with the details filed by the assessee, the Assessing Officer had no issues with respect to section 11 and 15, and he noted that the income derived from property held under trust, which included these investments, is covered by the exemption under

ASST CIT 3, MUMBAI vs. PRAMOD RATAN PATIL, MUMBAI

In the result, Appeal of Ld AO is dismissed, appeal of assessee is allowed partly

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Shri Pramod Ratan Patil Acit A–1, Chandresh Oasis, Lodha Circle–3, Kalyan, 2 Nd Floor, Heaven, Vs. Kalyan Shil Road, Dombivali (East), Rani Mansion, Murbad Road, Thane–421201 Kalyan West–421301 (Appellant) (Respondent) Pan No. Aadpp6274F Acit Shri Pramod Ratan Patil Circle–3, A–1, Chandresh Oasis, Lodha Kalyan, 2 Nd Floor, Heaven, Vs. Rani Mansion, Murbad Road, Kalyan Shil Road, Dombivali (East), Kalyan West–421301 Thane–421201 (Appellant) (Respondent) Assessee By : Mr. Satyaprakash Singh, Ar Revenue By : Mr. Nihar Ranjan Samal, Dr

2, 11,500 section 37 4 Disallowance 9,98,000 ₹ 998,800 Enhancement ITA no. 7329 & 3851/Mum/2016 Pramod Ratan Patil; A.Y. 11–12 under section of ₹ 40A (3) 5,433,800 on account of cash payment and further disallowance of 25% of expenses of ₹ 4,164

PRAMOD RATAN PATIL,THANE vs. ASST CIT CIR 3, KALYAN

In the result, Appeal of Ld AO is dismissed, appeal of assessee is allowed partly

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Shri Pramod Ratan Patil Acit A–1, Chandresh Oasis, Lodha Circle–3, Kalyan, 2 Nd Floor, Heaven, Vs. Kalyan Shil Road, Dombivali (East), Rani Mansion, Murbad Road, Thane–421201 Kalyan West–421301 (Appellant) (Respondent) Pan No. Aadpp6274F Acit Shri Pramod Ratan Patil Circle–3, A–1, Chandresh Oasis, Lodha Kalyan, 2 Nd Floor, Heaven, Vs. Rani Mansion, Murbad Road, Kalyan Shil Road, Dombivali (East), Kalyan West–421301 Thane–421201 (Appellant) (Respondent) Assessee By : Mr. Satyaprakash Singh, Ar Revenue By : Mr. Nihar Ranjan Samal, Dr

2, 11,500 section 37 4 Disallowance 9,98,000 ₹ 998,800 Enhancement ITA no. 7329 & 3851/Mum/2016 Pramod Ratan Patil; A.Y. 11–12 under section of ₹ 40A (3) 5,433,800 on account of cash payment and further disallowance of 25% of expenses of ₹ 4,164

ASST CIT (E) I(1),MUMBAI vs. JAMSHETJEE TATA TRUST, MUMBAI

disallowed the exemption on two violations viz. violation of section 13(1)(d)(iii) and section 13(2)(h). So far as the conditions required to be fulfilled u/s 13(1)(d)(iii) are concerned any income from the shares in a company other than public sector company or shares prescribed or form of investment under clause

NETWORTH STOCK BROKING LTD,MUMBAI vs. ACIT CIR 4(2), MUMBAI

In the result, the appeal of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

164/- . Since, the facts and circumstance are exactly identical in this year also, as in assessment year 2008-09, taking a consistent view, we dismiss this issue of Revenue’s appeal also. 30. The next issue in this appeal of Revenue is as regards to the order of CIT(A) deleting the disallowance of prior period expense of Rs.11