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

19 and 2017-18 respectively. The Tribunal respectively. The Tribunal (supra) has also examined the effect of examined the effect of the decision of the Hon’ble Supreme Court in the case of the decision of the Hon’ble Supreme Court in the case of the decision of the Hon’ble Supreme Court in the case of Ahmadabad Ahmadabad Ahmadabad

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

In the result, all the appeals in ITA Nos

disallowed the deduction, which was confirmed by the CIT(A). The Revenue preferred an appeal before the Tribunal.", "held": "The Tribunal held that interest income earned by a co-operative society from its investments with other co-operative banks is eligible for deduction under Section 80P(2)(d) of the Act. The exclusion under Section 80P(4) does not apply

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

disallowance for deduction under section 80G vis à-vis CSR can be restricted only to contributions to vis CSR can be restricted only to contributions to vis CSR can be restricted only to contributions to these Funds under CSR. It is a well these Funds under CSR. It is a well-established ru established rule of interpretation that

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

19,04,37,434/-. (ii) The ld.AO has recomputed the disallowance under section 14A of the Act in accordance with the provisions of Rule 8D of the Income-tax Rules. The ld.AO has accepted the amount liable for disallowance under clause 2

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

disallowance under section 14A of the Act as against the net interest expenditure. Any consequential relief, to which the Appellant may be entitled under the law in pursuance of the aforesaid grounds of appeal, or otherwise, may thus be granted. The Appellant craves, to consider each of the above grounds of appeal without prejudice to each other and craves leave

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

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

section 14A to the tune of Rs 1,19,07,328/- as per below calculation: 9. Subsequently the assessee submitted a revised computation stating that the interest disallowance computed under Rule 8D(2

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

section 14A to the tune of Rs 1,19,07,328/- as per below calculation: 9. Subsequently the assessee submitted a revised computation stating that the interest disallowance computed under Rule 8D(2

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

section 14A to the tune of Rs 1,19,07,328/- as per below calculation: 9. Subsequently the assessee submitted a revised computation stating that the interest disallowance computed under Rule 8D(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)

19,04,37,434/-. (ii) The ld.AO has recomputed the disallowance under section 14A of the Act in accordance with the provisions of Rule 8D of the Income-tax Rules. The ld.AO has accepted the amount liable for disallowance under clause 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)

19,04,37,434/-. (ii) The ld.AO has recomputed the disallowance under section 14A of the Act in accordance with the provisions of Rule 8D of the Income-tax Rules. The ld.AO has accepted the amount liable for disallowance under clause 2

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 2,86,069/ is justified in disallowing the deduction of Rs 2,86,069/ is justified in disallowing the deduction of Rs 2,86,069/- claimed u/s 80P of the Act. claimed u/s 80P of the Act. Accordingly, the appeal

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

disallowed this deduction by invoking Section 80P(4). The CIT(A) overturned the AO's decision. The Revenue appealed this order.", "held": "The Tribunal held that interest income earned by a co-operative society from its investments with other co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income-tax Act. Section 80P(4) does

SANGAM SAHAKARI PATPEDHI MARYADITNAGARI,NAVI MUMBAI, THANE vs. MUMBAI-W-91, VASHI NAVIMUMBAI

In the result, both the appeal of the assessee are allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2015-16 & Assessment Year: 2020-21 Sangam Sahakari Patpedhi Mumbai-W-91, Maryaditnagari, Navi Mumbai, It-Office, Vashi Railway Station Office No. 227, Central Facility Vs. Building Navi Mumbai-400703. Building, 3Rd Floor, Sector-19, Turbhe, Navi Mumbai-400705. Pan No. Aacas 6296 B Appellant Respondent

2)(a)(i), and not on the entitlement of a co 80P(2)(a)(i), and not on the entitlement of a co 80P(2)(a)(i), and not on the entitlement of a cooperative society towards deduction under Sec. 80P(2) (d) on the society towards deduction under Sec. 80P(2) (d) on the society towards deduction under

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 of direct expenses as provided under Rule 8D(2)(i) and the interest expenses under Rule 8D(2)(ii). The dispute is with regard to administrative expenses only as prescribed under Rule 8D(2)(iii). We have noted that the assessee has claimed investment in its group companies for strategic purpose on which no other expenses or administrative expenses

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

2)(a)(i) income from other sources and deduction u/s 80(P)(2)(a)(i) income from other sources and deduction u/s 80(P)(2)(a)(i) would not be available meaning thereby t would not be available meaning thereby that deduction u/s hat deduction u/s 80(P)(2)(a)(i) is available only in respect of income which

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

2)(a)(i) income from other sources and deduction u/s 80(P)(2)(a)(i) income from other sources and deduction u/s 80(P)(2)(a)(i) would not be available meaning thereby t would not be available meaning thereby that deduction u/s hat deduction u/s 80(P)(2)(a)(i) is available only in respect of income which

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

2)(a)(i) income from other sources and deduction u/s 80(P)(2)(a)(i) income from other sources and deduction u/s 80(P)(2)(a)(i) would not be available meaning thereby t would not be available meaning thereby that deduction u/s hat deduction u/s 80(P)(2)(a)(i) is available only in respect of income which