M/S G.L.CONSTRUCTION PVT LTD,MUMBAI vs. ACIT/NATIONAL FACE LESS APPEAL CENTRE, MUMBAI

In the result, the appeal of the assessee is partly allowed for In the result, the appeal of the assessee is partly allowed for In the result, the appeal of the assessee is partly allowed for stati...

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2019-20 M/S G.L. Construction Pvt. Ltd, Acit/National Faceless 304, Gokul Arcade B, Subhash Appeal Centre, Road, Near Garware, Vs. 5Th Floor, Aayakar Bhavan, Vile Parle East, Churchgate, Mumbai-400057. Mumbai-400020. Pan No. Aaacg 3438 P Appellant Respondent Assessee By : Mr. N.R. Agrawal, Ar Revenue By : Smt. Sonia Kumar, Dr : Date Of Hearing 16/02/2023 : Date Of Pronouncement 23/02/2023

b) of Form No.3CD, i.e., due dates as prescribed u/s.36(1)(va) and the actual dates of payment rep u/s.36(1)(va) and the actual dates of payment rep u/s.36(1)(va) and the actual dates of payment reported, thus clearly indicating the deviations if any which attract such clearly indicating the deviations if any which attract such clearly indicating

DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

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

7. From the perusal of AO's order, we notice that the recovery has been brought to tax under section 41(1) stating that the claim of deduction under section 36(1)(viia) is a prudential write off since the same ultimately gets reduced from the liability and is different from actual write off of bad-debts. Accordingly

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

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

7. From the perusal of AO's order, we notice that the recovery has been brought to tax under section 41(1) stating that the claim of deduction under section 36(1)(viia) is a prudential write off since the same ultimately gets reduced from the liability and is different from actual write off of bad-debts. Accordingly

JAN SEVA MANDAL ,MUMBAI vs. INCOME TAX OFFICER EXEMPTION WARD -1(4), MUMBAI

In the result, the appeal filed by the assessee is allowed for In the result, the appeal filed by the assessee is allowed for In the result, the appeal filed by the assessee is allowed for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2023-24 Jan Seva Mandal, Central Processing Centre Income Vinayalaya, Mahakali Caves Tax Deparment, Bengaluru, Vs. Road, Andheri (East), Income Tax Officer Exemption Mumbai-400093. Ward 1(4), Mumbai. 6Th Floor, Mtnl Te Building, Pedder Road, Mumbai-400026. Pan No. Aaatj 4868 K Appellant Respondent

b) of of of the Act. 4. It It It is is is submitted submitted submitted that that that the the the denial denial denial of of of exemption exemption exemption under under under Section 11 of the Act, as discussed above, has led to Section 11 of the Act, as discussed above, has led to Section

TASKUS INDIA PRIVATE LIMITED,MUMBAI vs. CIRCLE 8(3)(1), MUMBAI

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant () Assessment Year: 2022-23 M/S Taskus India Pvt. Ltd., 1. Dy. Director Of Income- Ttc Industrial Area, Tower -9, Tax Central Processing Vs. Gigaplex It Park, 18Th & 19Th Centre Unit, Bengaluru, Floor, Midc, Plot No. 1 I.T.5, 1St Floor, Prestige Alpha Airoli Knowledge Park Rd, Airoli, No 48/1, 48/2 Navi Mumbai-400708. Beratenaagrahara Begur Hosur Rd Uttarahali Hobli, Bengaluru- 560100. 2. The Dy. Cit, Circle 8(3)(1), Mumbai. Aayakar Bhavan, M.K. Road, Mumbai-400020. Pan No. Aahct 0980 G Appellant Respondent

b) the Board has power to authorise any income tax authority other than Joint/ Commissioner (Appeals) income tax authority other than Joint/ Commissioner (Appeals) income tax authority other than Joint/ Commissioner (Appeals) to admit the belated claim made after the expiry of specified to admit the belated claim made after the expiry of specified to admit the belated claim made

JOYO PLASTICS,MUMBAI vs. ACIT, CIRCLE-24 (1)

In the result, the appeal of the assessee is partly allowed for the result, the appeal of the assessee is partly allowed for the result, the appeal of the assessee is partly allowed for statistical...

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2019-2020 Joyo Plastics, Acit Circle-24(1), 104, Jai Antariksh Co-Op Society, 601, 6Th Floor, Piramal Vs. Makwana Road, Marol Naka, Chamber, Lalbaug, Marol, Andheri (E), Mumbai-400012. Mumbai-400059. Pan No. Aaafj 0286 B Appellant Respondent Assessee By : Mr. Ajay R Sing/Akshay Pawar : Ms. Rajeshwari Menon, Sr. Dr Revenue By Date Of Hearing : 01/05/2024 : 13/05/2024 Date Of Pronouncement

7 3 of the appeal raised is whether the Assessing Officer, in 3 of the appeal raised is whether the Assessing Officer 3 of the appeal raised is whether the Assessing Officer proceedings u/s 143(1) of the Act, proceedings u/s 143(1) of the Act, was required to pass a speaking was required to pass a speaking and reasoned

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

disallowed the CSR expenses u/s 37(1) of the Act while SR expenses u/s 37(1) of the Act while computing the business income and claimed deduction of Rs. 12,49,000 computing the business income and claimed deduction of Rs. 12,49,000 computing the business income and claimed deduction

SHREE PUSHKAR FOUNDATION,MUMBAI vs. INCOME TAX OFFICER (EXEMPTION)-WARD 2(30, MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2021-22 Shree Pushkar Foundation, Ito (Exemption) – Ward 2(3), 301/302, 3Rd Floor, Cumbala Hill Tele Exchange Atlanta Centre, Vs. (Mtnl), Peddar Rd, Tardeo, Near Udyog Bhavan, Mumbai-400026. Sonawala Road, Goregaon East, Mumbai-400063. Pan No. Aawts 2303 N Appellant Respondent

disallowed and corresponding adjustment was made in order passed u/s 143(1)(a)(ii) of the Act. passed u/s 143(1)(a)(ii) of the Act. 3. Aggrieved, the assessee filed appeal before the Tribunal and Aggrieved, the assessee filed appeal before the Tribunal and Aggrieved, the assessee filed appeal before the Tribunal and claimed that in view of decision

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

7 ITA 2943-2894-2893-3160-3173/M/ 2023 & 2971-2970/M/ 2023 Small Industries Development Bank of India 36. Other deductions (1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- (vii) subject to the provisions of sub section

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

7 ITA 2943-2894-2893-3160-3173/M/ 2023 & 2971-2970/M/ 2023 Small Industries Development Bank of India 36. Other deductions (1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- (vii) subject to the provisions of sub section

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

7 ITA 2943-2894-2893-3160-3173/M/ 2023 & 2971-2970/M/ 2023 Small Industries Development Bank of India 36. Other deductions (1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- (vii) subject to the provisions of sub section

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

7 ITA 2943-2894-2893-3160-3173/M/ 2023 & 2971-2970/M/ 2023 Small Industries Development Bank of India 36. Other deductions (1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- (vii) subject to the provisions of sub section

DOW CHEMICALS INTERNATIONAL PRIVATE LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TA-14(1)(2), MUMBAI

In the result, the appeal by the assessee for the

7) to section\n43(1) of the Act, the AO held that there is no actual cost of the intangibles\nin the hands of the amalgamating company as the same is not reflected in\nthe balance sheet since they are self-acquired assets. Therefore, the AO\nrejected the submissions of the assessee, inter-alia, for the following\nreasons:\n“1

ACIT-15(3)(2), MUMBAI, MUMBAI vs. SURYA FERROUS ALLOYS PVT LTD, MUMBAI

Appeal are dismissed as having been rendered infructuous

Bench: SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

disallowance of purchases to 4% an account of bogus purchases without considering the fact that during the course of search, the entry provider has himself admitted that assessee company has been provided accommodation entries for claiming bogus expenses to deflate the profit thereby the profit thereby evading income tax. 2. Whether on the facts and circumstances of the cause

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

b) of the Act to disallow a portion of the expenditure is an altogether different dimension than invoking the expenditure is an altogether different dimension than invoking the expenditure is an altogether different dimension than invoking section 37(1) of the Act to say that the expenditure is not laid out section 37(1) of the Act to say that

BALRAJSINGH JAGJITSINGH KHARBANDA,MUMBAI vs. ADIT, CPC , BANGALORE

In the result, appeal of the assessee is In the result, appeal of the assessee is dismissed dismissed

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2019-2020 Balrajsinghjagjitsingh Adit, Cpc Bangalore, Kharbanda, Cpc, Bangalore-560500. C/3, Ravi Darshan, Sherly Vs. Rajan Road, Bandra West, Mumbai-400050. Pan No. Adhpk 1733 G Appellant Respondent Assessee By : Mr. Rajesh S. Kothari Revenue By : Kamble Minal Mohan, Dr : Date Of Hearing 05/06/2023 : Date Of Pronouncement 07/06/2023 Order

b. The assessee used the premises of Mumbai Cricket Association for meeting its Association for meeting its customers on regular basis. customers on regular basis. c. The expenses are incurred as licence for using the facility c. The expenses are incurred as licence for using the facility c. The expenses are incurred as licence for using the facility

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

disallow the deduction to 10% of rural advances of ₹122.30 crores which were not rural branches ICICI Bank Ltd; A.Y. 2015-16 vi. Excess deduction allowed under Section 36(1)(viii) of the Act of ₹138,52,06,494/- which should have been restricted to ₹961,47,93,509/- being 20% of allowable deduction. vii. Excess allowances of long-term

THERMO FISHER SCIENTIFIC INDIA PVT LTD. ,MUMBAI vs. DCIT-15(3)(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2009-10 Thermo Fisher Scientific India Dy. Cit-15(3)(1), Pvt. Ltd., Room No. 360, Aayakar Vs. 403-404, ‘B’ Wing, Delphi, Bhavan, New Marine Lines, Hiranandani Business Park, Mumbai-400020. Mumbai-400076. Pan No. Aabct 3207 A Appellant Respondent

7 to section 43(1) and Explanation 2 to section 43(6) of the Act are applicable to 43(1) and Explanation 2 to section 43(6) of the Act are applicable to 43(1) and Explanation 2 to section 43(6) of the Act are applicable to transactions in the scheme of an amalgamation and, therefore, not transactions

NATIONAL STOCK EXCHANGE OF INDIA LTD,MUMBAI vs. DCIT, CIR-7(1)(1), MUMBAI

In the result ground no.1 of the appeal of the assessee is allowed and grounds no

Bench: Shri Aby T Varkey & Shri Amarjit Singhita Nos.730 & 731/Mum/2023 (A.Ys. 2016-17 & 2017-18) National Stock Exchange Vs. Dcit, Circle 7(1)(1) Of India Limited Room No. 126, 1 St Floor, Exchange Plaza, Bandra Aaykar Bhavan, Kurla Complex, Bandra M.K. Road, East, Mumbai – 400051 Churchgate -400 020 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaacn1797L Appellant .. Respondent

b) of Show Cause Notice with respect to the amount set aside to Investor Service Fund that the said issue was already examined by the AO during the course of assessment. Moreover, the contribution to the Investors Service Fund is being made by BSE from 1992 onwards and has been claimed as expense under section