M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

In the result, the appeal by the assessee is partly allowed, while the\nappeal by the Revenue is dismissed

disallowance of deduction of under section 80P\nwithout appreciating the facts of the case and hence, pray that impugned\ndisallowance is bad in law and ought to be deleted.\nThe appellants crave leave to add to, alter or amend the aforestated grounds of\nappeal.\n4. While the Revenue has raised the following grounds in its appeal for the\n assessment

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

disallowance of deduction of under section 80P\nwithout appreciating the facts of the case and hence, pray that impugned\ndisallowance is bad in law and ought to be deleted.\nThe appellants crave leave to add to, alter or amend the aforestated grounds of\nappeal.\n4. While the Revenue has raised the following grounds in its appeal for the\n assessment

HUBTOWN LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(4), MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

disallowance made under Section 14A? (ii) Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has justified in deleting the addition of Rs. 30,00,000/-out of the total addition of Rs. 1,35,00,000/- made by the Assessing Officer under Section 69A

DCIT, MUMBAI vs. HUBTOWN LIMITED , MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

disallowance made under Section 14A? (ii) Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has justified in deleting the addition of Rs. 30,00,000/-out of the total addition of Rs. 1,35,00,000/- made by the Assessing Officer under Section 69A

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

disallowance of deduction of under section 80P\nwithout appreciating the facts of the case and hence, pray that impugned\ndisallowance is bad in law and ought to be deleted.\n\nThe appellants crave leave to add to, alter or amend the aforestated grounds of\nappeal.\"\n\n4. While the Revenue has raised the following grounds in its appeal

DCIT 29(2), MUMBAI vs. SHRI KIRTI RAMJI KOTHARI, MUMBAI

In the result, the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.3341/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) Dcit-29(2) बिधम/ Kirti Ramji Kothari Room No.422, 4Th Floor, A/7, Maheh Krupa Devi Vs. Kautilya Bhavan, B.K.C. Dayal Cross Road, Mulund Bandra (E), Mumbai- (W), Mumbai-400080. 400051. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaepk3216C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Bharti Singh (Sr. Ar) Assessee By: Shri Mandar Vaidya सुनवाई की तारीख / Date Of Hearing: 05/04/2022 घोषणा की तारीख /Date Of Pronouncement: 28/04/2022 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 14.02.2019 Passed By The Commissioner Of Income Tax (Appeals) -40 Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2015- 16. 2. The Revenue Has Raised The Following Grounds: - "1. On The Facts & Circumstances Of The Case, The Id. Cit(A) Erred In Allowing The Assessee’S Claim That The Profit Of Rs. 5,75,40,478/- From F & O Trading Was To Be Assessed Either As Business Income Or Under Either Of The Heads Of Income A To F Of Section 14 Of The Lt. Act Without Appreciating The Fact That The Investigation & Analysis Of The A.Y.2015-16 Facts As Borne Out By The A.O. In The Assessment Order Clearly Establish That The Profit Was Bogus & Sham Earned Through Synchronized Trading In Illiquid Stock Option & Accordingly The Same Was Correctly Assessed U/S 68 Of The It Act.

disallowed and added to the income of the assessee u/s 69C of the Act. The total income of the assessee was assessed to the tune of Rs.5,89,78,990/-. Feeling aggrieved, the assessee filed an appeal before the CIT(A) and the CIT(A) allowed the claim of the assessee but the revenue was not satisfied, therefore, filed

M/S. TATA INDUSTRIES LTD,MUMBAI vs. THE ITO 2(3)(3), MUMBAI

In the result, appeal of the assessee is treated as partly allowed

Bench: Shri G. S. Pannu, Accoutant Member & Shri Sanjay Gargtata Industries Ltd., Vs. The Income Tax Officer, Ward- Bombay House,24,Homi 2 (3) (3), Room No.555, Mody Street, Fort, Mumbai Aayakar Bhavan, Maharshi 400 001 Karve Road, Mumbai 400 020 Pan: Aaact 4058 L Appellant .. Respondent Appellant By Shri Dinesh Vyas, Ar Respondent By Shri Alok Johri, Dr Date Of Hearing 22-06-2016 Date Of Pronouncement 20-07-2016

disallowances. The following ratio as per para 12 of Hon’ble Supreme Court order in the case of ACG Associated Capsules Pvt. Ltd. is to be applied. “12. If we now apply Explanation (baa) as interpreted by us in this judgment to the facts of the case before us, if the rent or interest is a receipt chargeable as profits

EAGER CORPORATION,MUMBAI vs. DCIT-CENT-CIR 8(3), MUMBAI

In the result, the appeals filed by the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

disallowances under section 37(1) treating salary, interest and other administrative expenses as non-genuine or unexplained, additions under section 68 treating unsecured loans and suspense credits appearing in the books of account as unexplained cash credits, and additions under section 69A

EAGER CORPORATION,MUMBAI vs. DCIT-CENT-CIR 8(3), MUMBAI

In the result, the appeals filed by the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

disallowances under section 37(1) treating salary, interest and other administrative expenses as non-genuine or unexplained, additions under section 68 treating unsecured loans and suspense credits appearing in the books of account as unexplained cash credits, and additions under section 69A

EAGER CORPORATION,MUMBAI vs. DCIT-CENT-CIR 8(3), MUMBAI

In the result, the appeals filed by the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

disallowances under section 37(1) treating salary, interest and other administrative expenses as non-genuine or unexplained, additions under section 68 treating unsecured loans and suspense credits appearing in the books of account as unexplained cash credits, and additions under section 69A

AYYAPPA SEVA SAMGHAM BOMBAY TRUST,MUMBAI vs. CIT (A)-53, MUMBAI

In the result appeal of the assessee is allowed for statistical purposes

Bench: Shri Kuldip Singh & Shri Gagan Goyalayyappa Seva Samgham Bombay-Trust Plot No.185, Shree Ayyappa Temple Bangur Nagar, Goregaon (E) Mumbai-400 104 Pan: Aaata0312K ...... Appellant Vs. Cit (A), 53 634, Aayakar Bhavan, Mumbai-400 020 ..... Respondent

disallowing the deductions claimed by the appellant and allowed by the Assessing Officer in the assessment order u/s 143(3) made on 26 12 2019. 3. Without prejudice to the generality of the ground of appeal no 1 above, on the facts and in the circumstances of the case and in law, learned Assessing Officer has erred in holding that

ASSISSTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 2(3), MUMBAI vs. FA CONSTRUCTION, MUMBAI

In the result, all the three appeals of the Revenue are\ndismissed

Section 69A of the Act.\"\n3. On the facts and circumstances of the case and in law, The Ld.\nCIT(A) has erred in deleting the disallowance

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 2(3), MUMBAI vs. F A CONSTRUCTION, MUMBAI

In the result, all the three appeals of the Revenue are\ndismissed

Section 69A of the Act.\n3. On the facts and circumstances of the case and in law, The Ld.\nCIT(A) has erred in deleting the disallowance

MRS. SPUREET KAUR NAGI,MUMBAI vs. ACIT CC-20, MUMBAI

In the result ground number 9 of the appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

69A of the Act. Assessee has claimed business expenditure of Rs 176997/-. The learned Assessing Officer further disallowed 25% of such expenditure as assessee failed to furnish third party documentary evidences. Therefore, disallowance out of the expenditure was of ₹44,249/-. Accordingly, the assessment was completed under section

MRS. SPUREET NAGI,MUMBAI vs. ACIT CC-20,, MUMBAI

In the result ground number 9 of the appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

69A of the Act. Assessee has claimed business expenditure of Rs 176997/-. The learned Assessing Officer further disallowed 25% of such expenditure as assessee failed to furnish third party documentary evidences. Therefore, disallowance out of the expenditure was of ₹44,249/-. Accordingly, the assessment was completed under section

MRS. SPUREET NAGI,MUMBAI vs. ACIT CC-20,, MUMBAI

In the result ground number 9 of the appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

69A of the Act. Assessee has claimed business expenditure of Rs 176997/-. The learned Assessing Officer further disallowed 25% of such expenditure as assessee failed to furnish third party documentary evidences. Therefore, disallowance out of the expenditure was of ₹44,249/-. Accordingly, the assessment was completed under section

MRS. SPUREET KAUR NAGI,MUMBAI vs. ACIT CC 20, MUMBAI

In the result ground number 9 of the appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

69A of the Act. Assessee has claimed business expenditure of Rs 176997/-. The learned Assessing Officer further disallowed 25% of such expenditure as assessee failed to furnish third party documentary evidences. Therefore, disallowance out of the expenditure was of ₹44,249/-. Accordingly, the assessment was completed under section

MRS. SUPREET KAUR NAGI,MUMBAI vs. ACIT CC 20, MUMBAI

In the result ground number 9 of the appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

69A of the Act. Assessee has claimed business expenditure of Rs 176997/-. The learned Assessing Officer further disallowed 25% of such expenditure as assessee failed to furnish third party documentary evidences. Therefore, disallowance out of the expenditure was of ₹44,249/-. Accordingly, the assessment was completed under section