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

section 2(15) of the Act as far as activity of conducting or participating in exhibitions within India as activity of conducting or participating in exhibitions within India as activity of conducting or participating in exhibitions within India or overseas and therefore the disallowance

JEEVANDEEP EDUMEDIA PRIVATE LIMITED,MUMBAI vs. PRINCIPLE CIT-6, MUMBAI

In the result, the a In the result, the appeal of the assessee is stands allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2020-21 Jeevandeep Edumedia Pvt. Ltd., Pr. Cit-6, 1St Floor, Sun Paradise Business 501,5Th Floor, Aayakar Bhavan, Plaza, Senapati Bapat Marg, Vs. Maharishi Karve Road, Lower Parel (West), Mumbai-400020. Mumbai-400013. Pan No. Aabcj 0180 G Appellant Respondent

Section 263. Ground No. 2: Incorrect disallowance of donation claimed u/s 80G of Ground No. 2: Incorrect disallowance of donation

INCOME TAX OFFICER , MUMBAI vs. IDBI STAFF CO-OPERATIVE CREDIT SOCIETY LTD , MUMBAI

In the result, all the appeals in ITA Nos

section 80P(2)(d), the\nassessee is eligible to claim deduction U/s. 80P(2)(a)(i) of the Act only\nwhen it is invested with any other cooperative society. The Ld. AO also\nplaced heavy reliance in the case of M/s. Totgars Cooperative Sale Society\nLtd (supra) while disallowing

KHORAKIWALA HOLDINGS AND INVESTMENTS PVT. LTD.,MUMBAI vs. ASST CIT 14(2(1), MUMBAI

Appeal is dismissed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2013-14

2(22)(e) of the Act do not apply on receipt of preference share application money by Appellant from BTPL; B. Addition of preference share application money received amounting to Rs.90.00,00,OOP/- as unexplained cash credit under section 68 of the Act M/s. Khorakiwala Holdings and Investments Pvt. Ltd. 7. erred in not adjudicating the ground on taxability

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

section 40A(2)(b) is to disallow an expenditure which is envisaged by section 40A(2)(b) is to disallow

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

In the result, appeals of the assessee are allowed and appeals of the Revenue are dismissed

Section 14A of the Act was computed at Rs. 1,14,95,165/-. 5. However, the ld. AO did not accept the assessee's computation of disallowance and proceeded to recomputed the disallowance u/s.14A r.w.r.8D. First of all, he accepted the amount liable for disallowance under clause 2

RUSTOMJEE ASPIREE PREMISES CO-OP SOC. LTD ,MUMBAI vs. ITO, WARD 26(2)(5), MUMBAI

In the result the appeal filed by the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Rustomjee Aspiree Premises Co- Ito Ward 26(2)(5), Op. Soc. Ltd., Room No. 319, 3Rd Floor, Kautilya Vs. Ground Floor, Rustomjee Bhavan, C-41 To C-43, ‘G’ Block Aspiree, Cts No. 628, Ai, Pt Bandra Kurla Complex, Bandra Kurla, Eatern Express Highway, (East), Mumbai-400051. Sion, Mumbai-400022. Pan No. Aabar 4001 L Appellant Respondent

disallowed deduction claimed u/S 80P(2)(d) of the Income Tax Act and in the deduction claimed u/S 80P(2)(d) of the Income Tax Act a deduction claimed u/S 80P(2)(d) of the Income Tax Act a light of the decision of the Supreme Court with regard to the same light of the decision of the Supreme Court

JAI JALARAM CO-OPERATIVE CREDIT SOCIETY LIMITED,MUMBAI vs. THE INCOME TAX OFFICER, WARD 29(1)(5), MUMBAI

In the result appeal of the assessee is allowed partly for esult appeal of the assessee is allowed partly for esult appeal of the assessee is allowed partly for statistical purpose

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant () Assessment Year: 2015-16 Jai Jalaram Co-Operative Credit The Ito Ward 29(1)(5), Society Ltd., Kautilya Bhavan, Bandra Kurla Vs. Shop No. -2 Ground Floor, Shop Complex, No. -2 Ground Floor, Mulund Mumbai-400051. Siddhivinayak C.H.S. Near Punjab National Bank Zaver Road, Mulund West, Mumbai-400080. Pan No. Aaaaj 2603 B Appellant Respondent

section 80P(2)(d)/ 80P(2)(a)(i). Thus, the AO is justified in disallowing the deduction of Rs 2

ACIT-CIRCLE-5(3)(2), MUMBAI vs. M/S GREAT EASTERN SHIPPING CO. LTD., MUMBAI

In the result, appeals of the assessee are allowed and appeals of the Revenue are dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S.RIFAUR RAHMAN (Accountant Member)

Section 14A of the Act was computed at Rs. 1,14,95,165/-. 5. However, the ld. AO did not accept the assessee’s computation of disallowance and proceeded to recomputed the disallowance u/s.14A r.w.r.8D. First of all, he accepted the amount liable for disallowance under clause 2

DCIT CIR 5(3)(2), MUMBAI vs. THE GREAT EASTERN SHIPPING CO. LTD, MUMBAI

In the result, appeals of the assessee are allowed and appeals of the Revenue are dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S.RIFAUR RAHMAN (Accountant Member)

Section 14A of the Act was computed at Rs. 1,14,95,165/-. 5. However, the ld. AO did not accept the assessee’s computation of disallowance and proceeded to recomputed the disallowance u/s.14A r.w.r.8D. First of all, he accepted the amount liable for disallowance under clause 2

NERKA CHEMICALS P. LTD,GUJRAT vs. ASST CIT CEN CIR 38, MUMBAI

In the result this ground of appeal is allowed for statistical purpose

Bench: Shri R.C. Sharma, Accountant Mamber & Shri Pawan Singh

disallowance made under section 14A as per Rule 8D. 2. Taxability of receipt of shares without consideration: Rs.1464.54.53.232/- Under normal

DCIT 2(1)(1), MUMBAI vs. BAJAJ ELECTRICALS LTD, MUMBAI

Accordingly we remit the impugned issue back to the AO with similar directions. The grounds raised by the assessee in this regard are allowed for statistical purposes

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

2 (iii) Disallowance of ESOP expenses - Ground No. 3 (iv) Disallowance of prior period expenses - Ground No. 4 4 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited 4. The assessee vide letter dated 30.04.2015 has raised the following additional ground with regard to disallowance under section

BAJAJ ELECTRICALS LTD,MUMBAI vs. ADDL CIT 2(1), MUMBAI

Accordingly we remit the impugned issue back to the AO with similar directions. The grounds raised by the assessee in this regard are allowed for statistical purposes

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

2 (iii) Disallowance of ESOP expenses - Ground No. 3 (iv) Disallowance of prior period expenses - Ground No. 4 4 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited 4. The assessee vide letter dated 30.04.2015 has raised the following additional ground with regard to disallowance under section

BAJAJ ELECTRICALS LTD,MUMBAI vs. ADDL CIT 2(1), MUMBAI

Accordingly we remit the impugned issue back to the AO with similar directions. The grounds raised by the assessee in this regard are allowed for statistical purposes

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

2 (iii) Disallowance of ESOP expenses - Ground No. 3 (iv) Disallowance of prior period expenses - Ground No. 4 4 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited 4. The assessee vide letter dated 30.04.2015 has raised the following additional ground with regard to disallowance under section

SAI PRERNA CO-OP. CREDIT SOCIETY LTD,MUMBAI vs. ITO WD 17(3) (2) , MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

disallowed. 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in contravention to provisions of the Act. The income from FD contravention to provisions of the Act. The income from FD contravention to provisions

ITO-26(2)(1), MUMBAI vs. SAI PRERANA CO-OP CREDIT SOCIETY LTD, MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

disallowed. 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in contravention to provisions of the Act. The income from FD contravention to provisions of the Act. The income from FD contravention to provisions

SAI PRERNA CO-OP. CREDIT SOCIETY LTD,MUMBAI vs. ITO WD 17(3) (2) , MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

disallowed. 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in contravention to provisions of the Act. The income from FD contravention to provisions of the Act. The income from FD contravention to provisions

INCOME TAX OFFICER-26(2)(1), MUMBAI vs. SAI PRERANA CO-OP CREDIT SOCIETY LTD., MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

disallowed. 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in 4. Assessee claimed deduction u/s 800(2) which is clearly in contravention to provisions of the Act. The income from FD contravention to provisions of the Act. The income from FD contravention to provisions