SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(3)(1),MUMBAI, MUMBAI

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

disallowance made by the assessee. The ground raised by the assessee is allowed and the ground raised by the revenue is dismissed. Claim of deduction under section 36(1)(viii) 18. The assessee in the computation has claimed deduction under section 36(1)(viii) to the extent of the least of 20% of profits derived from the eligible business

DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI, MUMBAI vs. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA, MUMBAI

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

disallowance made by the assessee. The ground raised by the assessee is allowed and the ground raised by the revenue is dismissed. Claim of deduction under section 36(1)(viii) 18. The assessee in the computation has claimed deduction under section 36(1)(viii) to the extent of the least of 20% of profits derived from the eligible business

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(3)(1),MUMBAI, MUMBAI

disallowance made by the assessee. The ground raised by the assessee is\nallowed and the ground raised by the revenue is dismissed.\nClaim of deduction under section 36(1)(viii)\n18.\nThe assessee in the computation has claimed deduction under section\n36(1)(viii) to the extent of the least of 20% of profits derived from the eligible\nbusiness

DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI, MUMBAI vs. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA, MUMBAI

disallowance made by the assessee. The ground raised by the assessee is\nallowed and the ground raised by the revenue is dismissed.\nClaim of deduction under section 36(1)(viii)\n18.\nThe assessee in the computation has claimed deduction under section\n36(1)(viii) to the extent of the least of 20% of profits derived from the eligible\nbusiness

DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI, MUMBAI vs. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA, MUMBAI

disallowance made by the assessee. The ground raised by the assessee is\nallowed and the ground raised by the revenue is dismissed.\n\nClaim of deduction under section 36(1)(viii)\n\n18.\nThe assessee in the computation has claimed deduction under section\n36(1)(viii) to the extent of the least of 20% of profits derived from the eligible

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

In the result, appeal of the assessee is allowed

disallowed Rs.471,05,05,075/-.\n5. 1. The assessee agitated the matter before ld. CIT(A) and vehemently\ncontended that the assessee had written off bad debts of Rs.923.67 Crore\nafter reducing the opening credit balance in the provision for bad and\ndoubtful debts account u/s 36(1)(viia) of Rs.452.61 Crores and claimed\nthe balance amount of Rs.471.06 Crores

ASST CIT 19(3), MUMBAI vs. PAHILAJRAI JAIKISHIN, MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

1,00,000 in the case of a professional firm and Rs. 75,000 in the case of a non-professional firm, the limit is 60% of the “book-profit” in this slab. For the balance of the “book-profit” after these two slabs, the limit is 40% . 48.7 Under the provisions of section 40A(2) an Assessing Officer

PAHILAJRAI JAIKISHAN,MUMBAI vs. DCIT 19(3), MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

1,00,000 in the case of a professional firm and Rs. 75,000 in the case of a non-professional firm, the limit is 60% of the “book-profit” in this slab. For the balance of the “book-profit” after these two slabs, the limit is 40% . 48.7 Under the provisions of section 40A(2) an Assessing Officer

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

M. R. CONSTRUCTION,MUMBAI vs. ACIT CEN CIR 22, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

ASST CIT CC-22, MUMBAI vs. JAWAHAR PUROHIT, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

DCIT CEN CIR 22, MUMBAI vs. M.R. CONSTRUCTION, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

DCIT CEN CIR 22, MUMBAI vs. M.R. CONSTRUCTION, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A

M.R. CONSTRUCTION,.,MUMBAI vs. ASST CIT CEN CIR 22, MUMBAI

In the result, in the case of M

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

1,17,125 Interest on Loan –Asahi Infrastructure & 10,686 Nil 10,686 Projects Ltd. Disallowance under section 40(a)(ia) – Late Payment of TDS Section 194A