THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

section (2) of section 14A. In other words, disallowance u/s 14A(l) can only be triggered, once the conditions laid down under sub- section (2) are satisfied. To work out the disallowance under Rule 8D(2) 52 M/s. The Phoenix Mills Ltd. and for its. quantification, the Assessing Officer has to first examine the accounts of the assessee and also

THE PHOENIX MILLS LTD,MUMBAI vs. DCIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

section (2) of section 14A. In other words, disallowance u/s 14A(l) can only be triggered, once the conditions laid down under sub- section (2) are satisfied. To work out the disallowance under Rule 8D(2) 52 M/s. The Phoenix Mills Ltd. and for its. quantification, the Assessing Officer has to first examine the accounts of the assessee and also

ASST CIT CC 8(4), MUMBAI vs. PHOENIX MILLS LTD, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

section (2) of section 14A. In other words, disallowance u/s 14A(l) can only be triggered, once the conditions laid down under sub- section (2) are satisfied. To work out the disallowance under Rule 8D(2) 52 M/s. The Phoenix Mills Ltd. and for its. quantification, the Assessing Officer has to first examine the accounts of the assessee and also

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

section (2) of section 14A. In other words, disallowance u/s 14A(l) can only be triggered, once the conditions laid down under sub- section (2) are satisfied. To work out the disallowance under Rule 8D(2) 52 M/s. The Phoenix Mills Ltd. and for its. quantification, the Assessing Officer has to first examine the accounts of the assessee and also

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

section (2) of section 14A. In other words, disallowance u/s 14A(l) can only be triggered, once the conditions laid down under sub- section (2) are satisfied. To work out the disallowance under Rule 8D(2) 52 M/s. The Phoenix Mills Ltd. and for its. quantification, the Assessing Officer has to first examine the accounts of the assessee and also

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

section (2) of section 14A. In other words, disallowance u/s 14A(l) can only be triggered, once the conditions laid down under sub- section (2) are satisfied. To work out the disallowance under Rule 8D(2) 52 M/s. The Phoenix Mills Ltd. and for its. quantification, the Assessing Officer has to first examine the accounts of the assessee and also

ASST CIT CC 8(4), MUMBAI vs. PHOENIX MILLS LTD, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

section (2) of section 14A. In other words, disallowance u/s 14A(l) can only be triggered, once the conditions laid down under sub- section (2) are satisfied. To work out the disallowance under Rule 8D(2) 52 M/s. The Phoenix Mills Ltd. and for its. quantification, the Assessing Officer has to first examine the accounts of the assessee and also

MRS ALKA PANDEY,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX -25(2), 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 Rahul Chaudhary () Assessment Year: 2015-16 Mrs. Alka Pandey, Asst. Cit-25(2), Maitri – Plot No. 10, Jvpd Scheme, Kautilya Bhavan, Bkc, Vs. Vile Parle (West), Bandra (East), Mumbai-400049. Mumbai-400051. Pan No. Agepp 1076 H Appellant Respondent

section 56(2)(iii) had not been met. Accordingly, the income derived by the assessee been met. Accordingly, the income derived by the assessee been met. Accordingly, the income derived by the assessee from the premises under the leases could not be taxed from the premises under the leases could not be taxed from the premises under the leases could

SUMAN GUPTA,MUMBAI vs. DCIT - CC- 4(2), MUMBAI

In the result, appeal of the assessee for assessment year 2015

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3860 & 3859/Mum/2018 Assessment Years: 2014-15 & 2015-16 Smt. Suman Gupta, Dy. Cit Cc-4(2), 6Th New Harileela House, Air India Building, 19Th Mint Road, Fort, Vs. Floor, Room No. 1918, Mumbai-400 001. Nariman Point, Mumbai-21. Pan No. Ahqpg 0220 P Appellant Respondent Assessee By : Mr. Bhupendra Karkhanis & Mr. Aakash Marthak & Mr. Vijay Bhatt, Ars Revenue By : Dr. Kishor Dhule, Cit-Dr Date Of Hearing : 02/03/2023 : Date Of Pronouncement 27/04/2023 Order

125 ITR 134 (All). The detail of the rental value . The detail of the rental value deemed by the Assessing Officer is as under: deemed by the Assessing Officer is as under: Property Amount Amount Office premises at Appejay House Office premises at Appejay House 1,23,36,609 1,23,36,609 Propety at Lavassa 92 Propety at Lavassa

ASST CIT 14(1), MUMBAI vs. SANJAY B PAHARIYA, MUMBAI

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

section 54F exemption because two flats were joined before assessee became owner of said property and certificate from society also established fact that these two flats were considered as one residential property. In the present case of appellant, the AO has not denied the fact that the impugned two flats no. 2601 & 2602 in Beau monde, Tower-C at Prabhadevi

ACIT-3(1)(1), MUMBAI vs. GENTEX MERCHANTS PVT. LTD., MUMBAI

Appeal of the revenue is partly allowed

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

125/- works out to Rs.7,68,32,912/- which the Ld. AO held to be the annual value of the house property instead of the rent received by the appellant company. This issue is no longer resintegra as it has been raised in the case of the appellant in the assessment year 2010-11. The Ld. CIT (Appeals) VIII, Kolkata

FAROOQ ABDULLA MERCHANT,MUMBAI vs. ITO 23 (1)(4), MUMBAI

In the result, Ground No. V raised by the assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Blefarooq Abdulla Merchant V. Income Tax Officer- Ward – 23(1)(4) Matru Mandir, Tardev Road A-1401, Poseidon Tower Mumbai – 400 007 Versova, Yari Road Above Indian Bank, Versova Andheri (W), Mumbai - 400061 Pan: Ahupm7426K (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punamiya Department Represented By : Smt. Vranda U. Matkarni

Section 54 of the Income-tax Act, New Delhi, in case of 1961 - Capital gains - Profit on sale Sunandan Kumar Minocha of property used for residential V. ITO, Ward 63(1) (Copy of purpose It was held the assesse is Order enclosed in Paper eligible for claim of 3 different book Page No. 125-132) residential houses

ACIT 4(3)(1), MUMBAI vs. THE NEW PIECE GOODS BAZAR CO. LTD, MUMBAI

In the result, the Revenues’s appeal is partly allowed for statistical purposes

house property a very valuable 22 Asst. CIT vs. The New Piece Goods Bazar Co. Ltd. asset in the hands of the tenant. The same is transferred for a consideration of Rs. 18 lacs, even as a premium of Rs. 21.25 lacs is payable to the assessee-owner, only subject to which it grants a no-objection certificate

ITO 16(1)(4), MUMBAI vs. SHASHANKA GHOSH, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2011-12 Income Tax Officer-16(1)(4), Vs Shri Shashanka Ghosh, Room No.438, 4Th Floor, C-701, Jay Bharat Chs Ltd. Aayakar Bhavan, Off. Yari Road,Near Amarnath M. K. Road, Tower, Varsova Andher (West), Mumbai-400020 Mumbai-400061 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Acwpg5915E

property, whereas, the date of allotment is 20/11/2011 and the due date of filing of return was 30/09/2011. The crux of the argument is in support of the addition made by the Ld. Assessing Officer. Reliance was placed upon the decision of the Tribunal in the case of Farida A Dungerpurwala vs Income Tax Officer (ITA No.5169/Mum/2010), order dated 12/09/2014

DCIT-CC-5(4), MUMBAI vs. RAGHULEELA ESTATES PVT LTD, MUMBAI

In the result, all the appeals of the Revenue are dismissed and Cross Objections of the assessee are allowed

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

section 24(b) of the Act while computing Income from House Property. He aslo relied upon and he referred to CBDT Circular No. 28 dated 20/08/1969 which clarifies that fresh loans raised to repay the earlier loans taken on the property, then the interest paid on subsequent loan shall be allowed as deduction. There is no restriction placed

DCIT -CC-5(4), MUMBAI vs. RAGHULEELA ESTATE PRIVATE LIMITED, MUMBAI

In the result, all the appeals of the Revenue are dismissed and Cross Objections of the assessee are allowed

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

section 24(b) of the Act while computing Income from House Property. He aslo relied upon and he referred to CBDT Circular No. 28 dated 20/08/1969 which clarifies that fresh loans raised to repay the earlier loans taken on the property, then the interest paid on subsequent loan shall be allowed as deduction. There is no restriction placed

DCIT-CC-5(4), MUMBAI vs. RAGHULEELA ESTATES PVT LTD, MUMBAI

In the result, all the appeals of the Revenue are dismissed and Cross Objections of the assessee are allowed

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

section 24(b) of the Act while computing Income from House Property. He aslo relied upon and he referred to CBDT Circular No. 28 dated 20/08/1969 which clarifies that fresh loans raised to repay the earlier loans taken on the property, then the interest paid on subsequent loan shall be allowed as deduction. There is no restriction placed

S.P CORPORATION,MUMBAI vs. ACIT RG 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

125 ITR 134 (All)], the Hon’ble Allahabad High Court upheld the Tribunal’s view that 5 ITA.No. 1865 & 1464 /MUM/2009 ITA.No. 2594 TO 2596, 6857 & 2747/MUM/2011 ITA.No. 6298 & 2626/MUM/2012 M/s. S.P. Corporation 7% on investment can be adopted as fair rent and therefore this method is judicially tested and the percentage of investment on a reasonable basis could