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

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

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

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

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

2. If Ground No. II is allowed, and it is held that receipts received or earned by the Appellant is not assessable as Appellant own income as Appellant is agent of the State Government, the question of allowing related expenses also does not arise; This ground will not, therefore survive for adjudication. 3. If Ground No I & II both

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

2. If Ground No. II is allowed, and it is held that receipts received or earned by the Appellant is not assessable as Appellant own income as Appellant is agent of the State Government, the question of allowing related expenses also does not arise; This ground will not, therefore survive for adjudication. 3. If Ground No I & II both

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

2. If Ground No. II is allowed, and it is held that receipts received or earned by the Appellant is not assessable as Appellant own income as Appellant is agent of the State Government, the question of allowing related expenses also does not arise; This ground will not, therefore survive for adjudication. 3. If Ground No I & II both

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

2. If Ground No. II is allowed, and it is held that receipts received or earned by the Appellant is not assessable as Appellant own income as Appellant is agent of the State Government, the question of allowing related expenses also does not arise; This ground will not, therefore survive for adjudication. 3. If Ground No I & II both

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

2. If Ground No. II is allowed, and it is held that receipts received or earned by the Appellant is not assessable as Appellant own income as Appellant is agent of the State Government, the question of allowing related expenses also does not arise; This ground will not, therefore survive for adjudication. 3. If Ground No I & II both

TECHNO SHARES & STOCKS LTD,MUMBAI vs. ADDL CIT RG 4(2), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Shri G.S. Pannu() : A.Y : 2008-09

disallowance made by the Assessing Officer on the ground that since assessee has claimed depreciation on the cost of membership card, the computation of Capital Gains on sale of shares will fall under Section 50 of the Act which deals with the computation of Capital Gains in case of depreciable assets. It was also noticed by the learned Accountant Member

CREDIT GUARANTEE FUND TRUST FOR MICRO AND SMALL ENTERPRISES,MUMBAI vs. DCIT (E) , MUMBAI

Bench: Shri Kuldip Singh & Shri S Rifaur Rahmanassessment Year: 2018-19

disallowing the sum of Rs. 9,92,75,616/- being 15% of the income derived by the trust under section 11(1)(a) without appreciating the facts that: a) the Hon'ble ITAT has already held in the appellant's own case for AY 2010-11, AY 2011-12 and AY 2014-15 that the proviso to section 2

STRIDES PHARMA SCIENCE LTD.,NAVI MUMBAI vs. THE DY CIT -5(1)(2), MUMBAI

In the result ITA number 1004/M/2021 filed by the assessee for assessment year 2016 – 17 is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Strides Pharma Science Ltd. Dcit 15(1)(2) 201, Devavrata, Sector-17, Aayakar Bhavan, M K Road, Vs. Vashi, Navi Mumbai, 400703 Mumbai 400020 (Appellant) (Respondent) Pan No. Aadcs8104P

2,52,50,670 based on the specific directions given by the Hon'ble ITAT in the order passed for AY 2014-15. 4.4 Without prejudice to the above argument of the Appellant, disallowance, (if any) under Section 14A should be computed based on the methodology provided under Rule 8D of the Rules as amended by Notification

DCIT CC-8(2),MUMBAI, MUMBAI vs. RAKESH S KATHOTIA, MUMBAI

In the result appeal filed by the revenue stands dismissed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

274 ITR 122) dated 25.07.2014] has decided the issue in the favour of revenue, stand taken by the assessee in submission is not acceptable at all, therefore, hereby rejected. (The aforesaid, in short, is the summarized version of what has been stated/observed by Ld. AO under para 7.1 and 7.2 of the impugned assessment order dated 27.03.2022) However, while rejecting

ASST CIT CIR 6(1)(2), MUMBAI vs. ASK INVESTMENT MANAGERS P.LTD, MUMBAI

The appeal of the Revenue is allowed for statistical

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year 2012-13 Acit M/S Ask Investment Circle-6(1)(2), Managers Pvt. Ltd. बनाम/ R. No.536, 5Th Floor, 1St Floor Bandbox House, Vs. Aayakar Bhavan, Dr. Ab Road, Worli, M. K. Road, Churchgate, Mumbai-400030 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aafca2302P Shri Nitin Waghmode-Dr राज"व क" ओर से / Revenue By "नधा"रती क" ओर से / Assessee By Shri J.D. Mistri Sr. Advocate

2), reproduced above. The assessee’s first contention is that while considering the average value of investment, only those investments are to be taken into consideration which have yielded exempt income and not those investments, which did not yield any exempt income during the year. The second contention is that phrase “shall not” in clause (iii), refers only to those

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

disallowance of expenses incurred on Kashish Construction are emanating out of seized material and hence, these are confirmed. We direct the AO accordingly. This issue of assessee’s appeal is partly allowed. 29. The next issue in this appeal of assessee is against the order of CIT(A) confirming the addition made by AO of unsecured loans as unexplained cash

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

disallowance of expenses incurred on Kashish Construction are emanating out of seized material and hence, these are confirmed. We direct the AO accordingly. This issue of assessee’s appeal is partly allowed. 29. The next issue in this appeal of assessee is against the order of CIT(A) confirming the addition made by AO of unsecured loans as unexplained cash

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

disallowance of expenses incurred on Kashish Construction are emanating out of seized material and hence, these are confirmed. We direct the AO accordingly. This issue of assessee’s appeal is partly allowed. 29. The next issue in this appeal of assessee is against the order of CIT(A) confirming the addition made by AO of unsecured loans as unexplained cash