DATTA PRASAD SAHAKARI PATSANSTHA LTD,MUMBAI vs. INCOME TAX OFFICER -26(3)(2), MUMBAI , MUMBAI

In the result, appeal is partly allowed

Bench: Shri Saktijit Dey () & Shri Rajesh Kumar ()

disallow a claim of deduction not made in the return of income; however, there is no such restriction on the appellate/revisional authority. While dealing with the aforesaid contentions of the assessee, the Hon’ble jurisdictional High Court has held as under:- “4. As is well-known, under Section 80-IB (10) of the Act, the Legislature has granted deductions

RAJ TARANG HOUSING SOCIETY,MUMBAI vs. ITO ,WARD 32(3)(1), MUMBAI

The appeal of the assessee is dismissed

Bench: Shri Vikas Awasthyआअसं. 3946 /मुं/2019("न.व.2014-15) Raj Tarang 1 Housing Society, Shiv Vallabh Cross Road, Ashokvan, Rawalpada, Dahisar East, : अपीलाथ"/ Appellant Mumbai 400 068. Pan:Aaaar-6740-H बनाम/ Vs.

disallowance of assessee’s claim of deduction under section 80P(2)(d) of the Income Tax Act,1961 ( in short 'the Act') in respect of interest income received from Co-operative Bank. The assessee has also raised another ground against rejection of assessee’s claim of deduction under section 80P(2)(c) of the Act. 3. The facts

GURU TEGBAHADUR CO-OP. CREDIT SOCIETY LTD.,MUMBAI vs. ITO , WARD 26 (1)(5), MUMBAI

The appeal of the assessee is dismissed

Bench: Shri Vikas Awasthyआअसं. 3946 /मुं/2019("न.व.2014-15) Raj Tarang 1 Housing Society, Shiv Vallabh Cross Road, Ashokvan, Rawalpada, Dahisar East, : अपीलाथ"/ Appellant Mumbai 400 068. Pan:Aaaar-6740-H बनाम/ Vs.

disallowance of assessee’s claim of deduction under section 80P(2)(d) of the Income Tax Act,1961 ( in short 'the Act') in respect of interest income received from Co-operative Bank. The assessee has also raised another ground against rejection of assessee’s claim of deduction under section 80P(2)(c) of the Act. 3. The facts

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance of deduction under section 80IB(10): 20. The assessee has developed a building in SRA project named “Blue Mountain”. The profits of the project have been offered to tax from Assessment Year 2013-14 onwards based on sale of flats in the respective assessment years. During the course of assessment proceedings, the Assessing Officer noticed that the assessee

M/S. ATUL PROJECTS INDIA P LTD,MUMBAI vs. DCIT- 9(1)(2) (NOW JURIDICTION WITH DC CC 2(4)), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance of deduction under section 80IB(10): 20. The assessee has developed a building in SRA project named “Blue Mountain”. The profits of the project have been offered to tax from Assessment Year 2013-14 onwards based on sale of flats in the respective assessment years. During the course of assessment proceedings, the Assessing Officer noticed that the assessee

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance of deduction under section 80IB(10): 20. The assessee has developed a building in SRA project named “Blue Mountain”. The profits of the project have been offered to tax from Assessment Year 2013-14 onwards based on sale of flats in the respective assessment years. During the course of assessment proceedings, the Assessing Officer noticed that the assessee

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance of deduction under section 80IB(10): 20. The assessee has developed a building in SRA project named “Blue Mountain”. The profits of the project have been offered to tax from Assessment Year 2013-14 onwards based on sale of flats in the respective assessment years. During the course of assessment proceedings, the Assessing Officer noticed that the assessee

M/S. ATUL PROJECTS INDIA PVT LTD.,,MIMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

Disallowance of deduction under section 80IB(10): 20. The assessee has developed a building in SRA project named “Blue Mountain”. The profits of the project have been offered to tax from Assessment Year 2013-14 onwards based on sale of flats in the respective assessment years. During the course of assessment proceedings, the Assessing Officer noticed that the assessee

ASST CIT CIR 1, KALYAN vs. ASB INTERNATIONAL P. LTD, AMBERNATH

In the result, appeals filed by the Revenue in ITA No

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.7034/Mum/2013 & 7035/Mum/2013 ("नधा"रण वष" / Assessment Years : 2004-05 & 2006-07) Asstt. Commissioner Of M/S Asb International बनाम/ Income Tax – Circle 1, Pvt. Ltd., V. Kalyan, E-9, Addl Ambernath Indl. 1St Floor,, Area, Mohan Plaza, Midc Anand Nagar, Wayale Nagar, Ambernath. Khadakpada, Kalyan. "थायी लेखा सं./Pan :Aaaca8424F .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

80A and section 80AB which was in Chapter VIA which do not appear in Chapter III. The fact that even after its recast, the relief has been retained in Chapter III indicates that the intention of Parliament it is to be regarded as an exemption and not a deduction. The Act of Parliament in consciously retaining this section in Chapter

INNO vs. OURCE SERVICES PRIVATE LIMITED,MUMBAIVS.DCIT, 14(1)(1), MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2021-22 Innovsource Services Pvt. Ltd., Dcit, 14(1)(1), 501, Jolly Board Tower 1, I-Think Aayakar Bhavan, Maharshi Karve Vs. Techno Campus Kanjurmarg-East, Road, New Marine Lines, Mumbai-400042. Churchgate, Mumbai-400020. Pan No. Aaeci 0979 D Appellant Respondent

2) of the Act. 5.5 It is correct that section 80JJAA is not a profit linked 5.5 It is correct that section 80JJAA is not a profit linked 5.5 It is correct that section 80JJAA is not a profit linked deduction and is linked with expenditure. The sections uses and is linked with expenditure. The sections uses and is linked

ASST CIT (LTU) 1, MUMBAI vs. GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

disallowance of deduction u/s 80IA of Rs.2.17.27.798/- made in the assessment order. Accordingly, Ground No 2 is hereby Allowed. 3.11. We further find that the similar issue had arose before this Tribunal in the case of Ambuja Cements Ltd vs. Addl. CIT in ITA No.2384 & 3475/Mum/2019 and 1241/Mum/2018

GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD),MUMBAI vs. ADDL CIT LTU, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

disallowance of deduction u/s 80IA of Rs.2.17.27.798/- made in the assessment order. Accordingly, Ground No 2 is hereby Allowed. 3.11. We further find that the similar issue had arose before this Tribunal in the case of Ambuja Cements Ltd vs. Addl. CIT in ITA No.2384 & 3475/Mum/2019 and 1241/Mum/2018

GEECEE VENTURES LIMITED ,MUMBAI vs. DCIT, CIRCLE 2(1)(1), MUMBAI

The appeal is allowed for statistical purposes

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

2) of the Act on 22/02/2019 was bad in law. In any case, no prejudice has been caused to the Revenue, since the CIT(A) has directed the Assessing Officer to verify the deduction claimed under Section 80IA of the Act and allow the same after examination. As regards claim of deduction under Section 80IA of the Act on merits

ACIT-2(1)(1), MUMBAI vs. GEECEE VENTURES LIMITED, MUMBAI

The appeal is allowed for statistical purposes

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

2) of the Act on 22/02/2019 was bad in law. In any case, no prejudice has been caused to the Revenue, since the CIT(A) has directed the Assessing Officer to verify the deduction claimed under Section 80IA of the Act and allow the same after examination. As regards claim of deduction under Section 80IA of the Act on merits

KJMC CAPITAL MARKET SERVICES LTD,MUMBAI vs. DCIT 4(3), MUMBAI

In the result, appeal and cross objections of the assessee are allowed and the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2008-09

80A provides : "In computing total income of an assessee, there shall be allowed from his gross total income, the deductions specified in sections 80C to 80U." These are additional deductions. They are quite different in kind from deductions which fall under Chapter IV. Under section 80J what is 9 ITA No.1588/M/2012 & ors. M/s. KJMC Capital Market Services Ltd. provided

SHIVNARAYAN NEMANI SHARES & STOCK BROKERS P. LTD.,MUMBAI vs. D.C.I.T. CIRCLE 4(2), MUMBAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm (Hearing Through Video Conferencing Mode) आयकर अपील सं/ I.T.A. No. 2522/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S. Shivnarayan Nemani बिधम/ Dcit, Circle-4(2) Shares & Stock Brokers P. Mumbai Vs. Ltd. 9/43, Bhupen Chambers, 2Nd Floor, Dalal Street Mumbai- 400023. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs3296C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mayank Chauhan (Ar) Revenue By: Shri Rohit Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 07/09/2021 घोषणा की तारीख /Date Of Pronouncement: 08/10/2021 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 20.01.2012 Passed By The Commissioner Of Income Tax (Appeals)-09, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2008-09. 2. The Assessee Has Raised The Following Grounds: - “1(A). On The Facts & In The Circumstances Of The Case & In Law, The Learned Commissioner Of Income-Tax(Appeals) Erred In Confirming The Disallowance Of Additional Amount Of Rs.2,98,258/- Under The Provisions Of Section 14A R.W.R. 8D Of The Income Tax Rules

80A provides : "In computing total income of an assessee, there shall be allowed from his gross total income, the deductions specified in sections 80C to 80U." These are additional deductions. They are quite different in kind from deductions which fall under Chapter IV. Under section 80J what is provided is an additional deduction which is calculated as a percentage

RELIANCE INDUSTRIES LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX LARGE TAXPAYER UNIT-2, MUMBAI

In the result, the ITA No

2 of the assessee is allowed. 28. In ground no. 5, the Assessing Officer has posed the following question for our adjudication: Whether, on the facts and circumstances of the case and in law, the Ld. CIT(A) was right in deleting the disallowance of deduction u/s. 80IB(9) of the Act holding ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment

RELIANCE INDUSTRIES LIMITED,MUMBAI vs. ACIT , MUMBAI

In the result, the ITA No

2 of the assessee is allowed. 28. In ground no. 5, the Assessing Officer has posed the following question for our adjudication: Whether, on the facts and circumstances of the case and in law, the Ld. CIT(A) was right in deleting the disallowance of deduction u/s. 80IB(9) of the Act holding ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment

DCIT (LTU)-2, MUMBAI vs. M/S RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the ITA No

2 of the assessee is allowed. 28. In ground no. 5, the Assessing Officer has posed the following question for our adjudication: Whether, on the facts and circumstances of the case and in law, the Ld. CIT(A) was right in deleting the disallowance of deduction u/s. 80IB(9) of the Act holding ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment