ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(3)(1), MUMBAI vs. TATA SONS LIMITED, MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

10. The issue arising in ground No. 9, raised in assessee’s appeal, is pertaining to disallowance of expenses while computing income from house property. 11. The brief facts of the case pertaining to this issue, as emanating from the record, are: In its computation of income from house property, the assessee reduced Rs. 41,00,674 from the annual

SANJEEV BEHL ,MUMBAI vs. INCOME TAX OFFICER INT TAX WARD, 1(2)(1), MUMBAI

In the result, the appeal by the assessee is allowed

144C(3) of the\nAct, by referring to the provisions of section 10(23AAB) of the Act held that\nthe LIC Market Plus-1 Policy is an annuity/deferred pension plan and proceeds\nfrom the surrender of such annuity/deferred pension plan is taxable as per\nthe provisions of section 80-CCC(2) of the Act. On the basis of the\ncomputation

EDENRED SA,MUMBAI vs. DCIT (IT) 2(2)(1), MUMBAI

In the result, this appeal by the assessee is allowed

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

houses. Further, the services offered by Indian group companies need a sophisticated computer program that can monitor, track and maintain such transactions and loyalty/rewards points. The AO further observed that for this purpose the assessee is required to maintain the customer’s individual profile where the personal information, as well as their transaction track, can be kept in the assessee

EDENRED SA,MUMBAI vs. ACIT (IT) 2(2)(1), MUMBAI

In the result, this appeal by the assessee is allowed

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

houses. Further, the services offered by Indian group companies need a sophisticated computer program that can monitor, track and maintain such transactions and loyalty/rewards points. The AO further observed that for this purpose the assessee is required to maintain the customer’s individual profile where the personal information, as well as their transaction track, can be kept in the assessee

EDENRED SA,MUMBAI vs. DCIT (IT) 2(1)(2), MUMBAI

In the result, this appeal by the assessee is allowed

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

houses. Further, the services offered by Indian group companies need a sophisticated computer program that can monitor, track and maintain such transactions and loyalty/rewards points. The AO further observed that for this purpose the assessee is required to maintain the customer’s individual profile where the personal information, as well as their transaction track, can be kept in the assessee

EDENRED SA,MUMBAI vs. DCIT (IT) 2(1)(2), MUMBAI

In the result, this appeal by the assessee is allowed

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

houses. Further, the services offered by Indian group companies need a sophisticated computer program that can monitor, track and maintain such transactions and loyalty/rewards points. The AO further observed that for this purpose the assessee is required to maintain the customer’s individual profile where the personal information, as well as their transaction track, can be kept in the assessee

THE INDIAN HOTELS CO. LTD.,MUMBAI vs. PR. CIT-1, MUMBAI

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Amarjit Singh, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.950/Mum/2021 (ननधधारण वर्ा / Assessment Years: 2014-15) बनधम/ The Indian Hotels Company Pcit-1 Room No.330, 3Rd Floor, Ltd. Vs. 9Th Floor, Express Towers, Aayakar Bhavan, Barrister Rajini Patel Marg, Maharishi Karve Road, Nariman Point, Mumbai- Mumbai-400020. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaact3957G (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri K. K. Ved Revenue By: Shri Surendra Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 17/03/2022 घोषणा की तारीख /Date Of Pronouncement: 12/04/2022 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 31.03.2021 Passed By The Principal Commissioner Of Income Tax-01, Mumbai [Hereinafter Referred To As The “Pcit”] Relevant To The A.Y.2014-15 In Which The Principal Commissioner Of Income Tax-01 Has Invoked The Revisional Power U/S 263 Of The I.T. Act, 1961. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “Re.: Validity Of Order U/S, 263; On The Facts & In The Circumstances Of The Case & In Law, The Impugned Order Dated 31 March 2021 Passed Under Section 263 Of The Act Is Without Jurisdiction & Bad In Law. Without Prejudice To The Above, On The Facts & Circumstances Of The Case & In Law, The Principal Commissioner Of Income Tax (“Pcit”) Has Erred In Passing The Order Dated 31 March 2021 U/S. 263 Of The Act.

properties is generally provided through in room television set and the advertisement / article in the Taj magazine / Coffee Table magazine kept in the rooms of overseas hotel units. - It is further submitted that in competitive industry like hospitality, apart from retaining existing customers, it is must to reach out the customers to widen its customer base in best possible manner

M/S. NICHOLAS PIRAMAL INDIA LTD,MUMBAI vs. THE ACIT CUR 7(1),

In the result, the appeal filed by the revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pavan Kumar Gadale & Shri S Rifaur Rahmanpiramal Enterprises Ltd Vs. Acit, Circle – 7(1) (Formerly Known As Aayakar Bhavan Piramal Healthcare Ltd) Mumbai – 400020. (Before Known As Nicholas Piramal Ind) Piramal Tower, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013. Pan/Gir No. : Aaacn4538P Appellant .. Respondent Dcit, Circle – 7(1) Vs. Piramal Enterprises Ltd Aayakar Bhyavan (Formerly Known As Mumbai – 400 020. Piramal Healthcare Ltd) (Before Known As Nicholas Piramal Ind) Piramal Tower, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013. Pan/Gir No. : Aaacn4538P Assessee By : Mr.Ronak Doshi & Ms.Manshi Padhiyar.Ar Revenue By : Mr.S.N.Kabra.Dr

House Property, since the assessee company is not the owner of the said properties during the financial year 2003-04. Further, the assessee company is also not in the business of letting out of premises. Hence, the rental receipts can also not be taxed under the head Business Income. Such rental receipts can only be taxed under the head "Income

AZZ WSI B V ,MUMBAI vs. DY CIT (IT) CIRCLE- 1 (1)(2), MUMBAI

In the result, the appeal of the assessee is allowed

144C(13) is bad in law. 2. Permanent establishment ("PE" Fixed place PE) 2.1. The DCIT erred in holding that the assessee has a fixed place PE in India and is not following the directions passed by the DRP, wherein the DRP held that the appellant does not have a fixed place PE in India Dependent agent

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

house property, profit and gains from business of profession, capital gains and income from other sources. Section 66 to 80 deals with the aggregation of income and set off /carry forward of loss. 7.1. Hon’ble Bombay High Court in case of CIT vs. M. N. Raigi reported in (1949) 17 ITR 180 considered as to whether share income

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

house property, profit and gains from business of profession, capital gains and income from other sources. Section 66 to 80 deals with the aggregation of income and set off /carry forward of loss. 7.1. Hon’ble Bombay High Court in case of CIT vs. M. N. Raigi reported in (1949) 17 ITR 180 considered as to whether share income

DCIT IT 332 MUMBAI, INCOME TAX vs. PRAMARICA ASPF II CYPRUS HOLDING LTD, CYPRUS

The appeal of the revenue is dismissed

Bench: Shri Saktijit Dey & Ms Padmavathy S, Am

House Coopers 1607, Air India Building, Pvt. Ltd., Tower C, 18th Floor, Vs. Nariman Point, Building No. 10 DLF, Cyber City, Mumbai-400021. Gurugram-122002. PAN : AAECP5087H Appellant) : Respondent) Appellant /Assessee by : Ms. Hirali Desai/ Shri Yogesh Malpani, AR Revenue / Respondent by : Shri Krishna Kumar, Sr. DR : 17.12.2024 Date of Hearing Date of Pronouncement

DCIT IT 3 3 2 MUMBAI, MUMBAI vs. PRAMARICA ASPF II CYPRUS HOLDING LTD, CTPRUS

The appeal of the revenue is dismissed

Bench: Shri Saktijit Dey & Ms Padmavathy S, Am

House Coopers 1607, Air India Building, Pvt. Ltd., Tower C, 18th Floor, Vs. Nariman Point, Building No. 10 DLF, Cyber City, Mumbai-400021. Gurugram-122002. PAN : AAECP5087H Appellant) : Respondent) Appellant /Assessee by : Ms. Hirali Desai/ Shri Yogesh Malpani, AR Revenue / Respondent by : Shri Krishna Kumar, Sr. DR : 17.12.2024 Date of Hearing Date of Pronouncement

ISHARES MSCI EMERGING MARKETS ETF (AS A SUCCESSOR TO ISHARES EMERGING MARKETS INDEX MAURITIUS CO ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

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

house property,\nprofit and gains from business of profession, capital gains and income from\nother sources. Section 66 to 80 deals with the aggregation of income and set\noff /carry forward of loss.\n7. 1. Hon'ble Bombay High Court in case of CIT vs. M. N. Raigi reported in\n(1949) 17 ITR 180 considered as to whether share

REUTERS TRANSACTION SERVICES LTD.,MUMBAI vs. DCIT (INTERNATIOAL TAXATION) - 4(1)(1), MUMBAI

In the result, appeal stands dismissed

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

Housing Ltd. v/s ITO,, [2018] 94 taxmann.com 84 (SC). 6. In rejoinder, the leaned Sr. Counsel for the assessee submitted, that once the draft assessment order is held to be invalid, it cannot be given a fresh lease of life by restoring it to the Assessing Officer to pass a fresh order. In support of such contention, the leaned

ISHARES INDIA 50 ETF (AS A SUCCESSOR TO ISHARES INDIA MAURITIUS CO ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

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

house property,\nprofit and gains from business of profession, capital gains and income from\nother sources. Section 66 to 80 deals with the aggregation of income and set\noff /carry forward of loss.\n7. 1. Hon'ble Bombay High Court in case of CIT vs. M. N. Raigi reported in\n(1949) 17 ITR 180 considered as to whether share

SCHWAB EMERGING MARKETS EQUITY ETF ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION -4(2)(1), MUMBAI

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

10 of the appeal\nof the assessee and direct the assessing officer to allow set-off of short-term\ncapital loss suffered by the assessee against short-term capital gain of Rs.\n791,221/-.”\n14. We find that similar findings have been rendered by the Co-ordinate\nBenches of the Tribunal in favour of the taxpayer in the following decisions

ISHARES CORE MSCI EM IMI UCITS ETF,MUMBAI vs. DCIT (INT)-2(2)(2), MUMBAI

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

house property,\nprofit and gains from business of profession, capital gains and income from\nother sources. Section 66 to 80 deals with the aggregation of income and set\noff /carry forward of loss.\n7. 1. Hon'ble Bombay High Court in case of CIT vs. M. N. Raigi reported in\n(1949) 17 ITR 180 considered as to whether share