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)

loss account and after, inter alia, making certain disallowances and ITA 7034/Mum/2013 and 6 ITA 7035/Mum/2013 allowances, arrived at the total business income at Rs.86.07 lakhs. A set

TATA MOTORS LTD,MUMBAI vs. DCIT LTU 2, MUMBAI

In the result, appeal of the assessee is allowed

loss' to be disallowed set off as provided under section 71 of the Act.” 3. We have heard rival submissions

SARITA SUNIL MANTRI,MUMBAI vs. INCOME TAX OFFICER, 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 Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2013-14 Sarita Sunil Mantri, Ito-7(2)(1), Flat 3 & 4, Kamal Building, Aayakar Bhavan, 69 Walkeshwar Road, Opp. Vs. Mumbai-400020. Gopi Birla School, Walkeshwar, Mumbai-400006. Pan No. Adxpm 8070 E Appellant Respondent : Assessee By Mr. Abhishek Jhunjhunwala, Ar Revenue By : Mr. Aditya Rai, Dr : Date Of Hearing 17/01/2023 : Date Of Pronouncement 19/01/2023

loss from hous property ought to have been allowed for set from hous property ought to have been allowed for set from hous property ought to have been allowed for set-off us.71B with the renta income of impugned year with the renta income of impugned year 2.0 On facts and On facts and circumstances of the case

TATA MOTORS LTD,MUMBAI vs. DCIT LTU 2, MUMBAI

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 3424/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2013-14)

Loss -Rs. 2,215. 26 crores; which is carried forward for set-off against Other Income / Business Profits in future. In the assessment order dated 25.01.2017 the same has been examined and after giving effect to the additions and disallowances

ISHARES CORE MSCI EMERGING MARKETS ETF (AS A SUCCESSOR TO ISHARES CORE EMERGING MARKETS MAURITIUS COMPANY ,MUMBAI vs. DCIT (TP) 2(2)(2), MUMBAI

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

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailishares Core Msci Emerging Markets Etf (As A Successor To Ishares Core Emerging Markets Mauritius Company) C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 Pan : Aafci3337N V/S Deputy Commissioner Of Income Tax (International Tax) - 2(2)(2) Room No.606, 6Th Floor, Kautilya Bhavan, ……………… Respondent C-41 To C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Ishares Msci All Country Asia Ex Japan Etf C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400028 Pan : Aabti7439L ............... Appellant

disallowed the set-off of short-term capital losses (which the Income-tax Appellate Tribunal has permitted) merely on the ground

ISHARES CORE MSCI TOTAL INTERNATIONAL STOCK ETF (AS A SUCCESSOR TO ISHARE CORE TAOTAL INTERNATIONAL STOCK MAURITIUS COMPANY ),MUMBAI vs. DY CIT (INT. TAX)-2(2)(1), MUMBAI

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

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailishares Core Msci Emerging Markets Etf (As A Successor To Ishares Core Emerging Markets Mauritius Company) C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 Pan : Aafci3337N V/S Deputy Commissioner Of Income Tax (International Tax) - 2(2)(2) Room No.606, 6Th Floor, Kautilya Bhavan, ……………… Respondent C-41 To C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Ishares Msci All Country Asia Ex Japan Etf C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400028 Pan : Aabti7439L ............... Appellant

disallowed the set-off of short-term capital losses (which the Income-tax Appellate Tribunal has permitted) merely on the ground

WADHWA & ASSOCIATES REALTORS P.LTD,MUMBAI vs. ASST CIT 9(3), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: D.T. Garasia & Shri N. K. Pradhanassessment Year: 2012-13 M/S. Wadhwa & Associates Asst. Commissioner Of Income Realtors Private Limited Tax 9(3) 301, 3Rd Floor, Platina, Mumbai. Plot C-59, G Block, Vs. Bandra Kurla Complex, Bandra East, Mumbai - 400051 Pan:Aaacw5273G (Appellant) (Respondent) Present For: Assessee By : Shri Jitendra Jain, Advocate & Shri Mahesh O. Rajora, Ca Revenue By : Shri Abhijit Patankar Date Of Hearing : 29.01.2018 Date Of Pronouncement : 14.02.2018 O R D E R

losses brought forward from earlier years. Case of assessee was taken up for scrutiny and assessment was completed determining income of assessee. Deduction u/s.35AB, as claimed by assessee, was disallowed and lease rentals paid were also disallowed. Assessment order also did not allow setting

ISHARES MSCI ALL COUNTRY ASIA EX JAPAN ETF,MUMBAI vs. DCIT (INT. TAX)-2(2)(2), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

disallowed the set-off of short-term capital losses (which the\nIncome-tax Appellate Tribunal has permitted) merely on the ground

TATA INDUSTRIES LTD,MUMBAI vs. DY CIT CIRCLE- 2 (3)(1), MUMBAI

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

set off of brought forward business losses and unabsorbed depreciation of earlier years. 2.7. We have gone through the provisions of section 115BBD of the Act. From the bare reading of the said section, we find that the starting point of the applicability of the said section is determination of ‘total income’. The plain and unambiguous reading of the provisions

EMBIO LTD,MUMBAI vs. ACIT (OSD) 10(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri G.S. Pannu & Shri Sandeep Gosain: A.Y : 2010-11

losses claimed by virtue of Section 72A rw Rule 9C before the end of 4 years from the end of year of amalgamation. 2. The Learned CIT(A) failed to appreciate the fact that the disallowance u/s 72A rw Rule 9C applied if conditions not fulfilled in 4th year. 3. The disallowance on account of set

SHRI BHUPENDRA C. DALAL,MUMBAI vs. DCIT (OSD II) CEN. CIR. 7, MUMBAI

In the result, the appeal of the assessee is partly allowed and the appeal of department is dismissed

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Gosain (Jm)

set aside the order passed by Ld CIT(A) on this issue and direct the AO to delete this disallowance. 62. The next item of addition relates to the disallowance of loss

DCIT (OSD) II-C RG-7, MUMBAI vs. BHUPENDRA C. DALAL, MUMBAI

In the result, the appeal of the assessee is partly allowed and the appeal of department is dismissed

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Gosain (Jm)

set aside the order passed by Ld CIT(A) on this issue and direct the AO to delete this disallowance. 62. The next item of addition relates to the disallowance of loss

PRIYA KAPIL TODARWAL ,MUMBAI vs. INCOME TAX OFFICER WARD, 30(1)(1), MUMBAI

In the result the appeal filed by the assessee stands allowed

Bench: Smt. Beena Pillai () & Smt. Renu Jauhri ()

disallowance of deduction of Rs. 1,93,000/- under chapter VI-A inspite of Bank Interest of Rs. 9,38,459/- taxed under the head 'Other Sources'. 2 ITA 1838/Mum/2025; A.Y. 2019-20 Priya Kapil Todarwal 2. The learned AddI./JCIT (Appeal)-6 Delhi, further erred in denying the right of the appellant to first set-off of Business LOSS

BHUPENDRA C. DALAL,MUMBAI vs. DIT (OSD II) CEN RG 7, MUMBAI

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

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Gosain (Jm)

set of facts, we are of the view that the Ld CIT(A) was justified in confirming the disallowance of Rs.6,64,300/- made by the AO. Accordingly, we confirm his order passed on this issue. G) DISALLOWANCE OF LOSS

DCIT (OSD) II CEN RG 7, MUMBAI vs. BHPENDRA C. DALAL, MUMBAI

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

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Gosain (Jm)

set of facts, we are of the view that the Ld CIT(A) was justified in confirming the disallowance of Rs.6,64,300/- made by the AO. Accordingly, we confirm his order passed on this issue. G) DISALLOWANCE OF LOSS

EDIL COMMODITIES LTD,MUMBAI vs. DCIT CIR 3(1), MUMBAI

In the result, these appeals by the assessee stands partly allowed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं./I.T.A. No.3426/Mum/2016 ("नधा"रण वष" / Assessment Year: 2011-12) M/S. Edel Commodities Limited Dy. Cit, Circle 3(1), बनाम/ Edelweiss House, Off Cst Road, Mumbai Vs. Kalina, Santacruz, Mumbai-400 098 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aacce 0323 K (Assessee) (Revenue) : & आयकर अपील सं./I.T.A. No.3576/Mum/2016 ("नधा"रण वष" / Assessment Year: 2011-12) Acit – 3(1)(2), M/S. Edel Commodities Limited बनाम/ Room No. 607, 6Th Floor, Edelweiss House, Off Cst Road, Aayakar Bhavan, Mumbai-400 020 Kalina, Santacruz, Mumbai-400 098 Vs. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aacce 0323 K (Revenue) : (Assessee) अपीलाथ" क" ओर से / Appellant By : Shri Vijay Mehta ""यथ" क" ओर से/Respondent By : Shri Ram Tiwari सुनवाई क" तार"ख / : 22.01.2018 Date Of Hearing घोषणा क" तार"ख / : 06.04.2018 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: These Are Cross Appeals By The Assessee & The Revenue Arising Out Of The Order Of The Ld. Commissioner Of Income Tax (Appeals) Dated 15.2.2016 & Pertain To The Assessment Year 2011-12. M/S. Edel Commodities Limited Assessee’S Appeal

set off the brought forward non-speculative loss against the current years speculative income; hence, the disallowance thereof made by the AO and confirmed

M/S. BIRLA EDUTECH LTD. ,MUMBAI vs. ITO WARD-3(1)(2), MUMBAI

In the result, the appeal of the assessee is allowed

disallowing set off of c/f losses and unabsorbed depreciation by invoking the provisions of section 79 of the Act without

POOJA MARKETING,MUMBAI vs. PR. CIT- 31 , MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Us, The Core Issues To Be Decided Are As Under:-

set off against the expenses claimed in the Profit and Loss Account. The income from winning from lotteries is exclusively covered by the provisions of Section 115BB of the Act and no expenses are allowable against the income from winning from lotteries -u/s. 58(4) of the Act. Reference was also made to the assessment proceedings for the Asst Year