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

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. 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

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

VISHWANATH ACHARAYA,MUMBAI vs. ASST CIT 11(1), MUMBAI

In the result, the appeal filed by the assessee company is partly allowed for statistical purpose

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 7976/Mum/2011 ("नधा"रण वष" / Assessment Year : 2007-08)

house properties in accordance with the ITA 7976/M/11 23 provisions of section 22 and 23 of the Act and the principles laid down by the Hon’ble Bombay High Court in the case of Tip Top Typography (supra) after considering the additional evidences filed by the assessee in his defense. Accordingly we set aside the order

DCIT CEN CIR 1(2), MUMBAI vs. HIRANANDNANI PALACE GARDENS P.LTD, MUMBAI

In the result, this appeal of Revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Ram Lal Negi

145,— (a) the valuation of purchase and sale of goods and inventory for the purposes of determining the income chargeable under the head "Profits and gains of business or profession" shall be— (i) in accordance with the method of accounting regularly employed by the assessee; and (ii) further adjusted to include the amount of any tax, duty, cess

SIDDHARTH DEVELOPERS ,MUMBAI vs. ASSTT COMMISSIONER OF INCOME TAX CC-5(3), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blesiddharth Developers V. Acit – Central Circle – 5(3) 205 Commerce House Room No. 1906, 19Th Floor 140 N.M. Road, Fort Air India Building Nariman Point, Mumbai – 400 021 Mumbai - 400023 Pan: Abffs4068J (Appellant) (Respondent) Assessee Represented By : Shri Nishit Gandhi Department Represented By : Shri Salil Mishra

house property. Assessing Officer noticed from the submission that during the year under consideration sales have been booked in the 'Chhotani Chawl Project. The cost for the project has been debited to the Work-in-Progress from A.Y.2011-12 onwards: The opening value of the property at Chhotani Chawl was ₹.93.65 crores. During the year the addition to the value

MARSHALL PRODUCE BROKERS COMPANY PRIVATE LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 3(2)(1), MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

House Property Exchange Gain 1227005 0 1227005 Business Income Total 29771374 5.1 The Assessing Officer added the variation in brokerage income The Assessing Officer added the variation in brokerage income The Assessing Officer added the variation in brokerage income amounting to Rs.1,56,87,264/ 56,87,264/- along with variation in exchange along with variation in exchange gain

DCIT-3(2)(1), AAYKAR BHAWAN vs. MARSHALL PRODUCE BROKERS COMPANY PVT LTD, NARIMAN POINT

The appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

House Property Exchange Gain 1227005 0 1227005 Business Income Total 29771374 5.1 The Assessing Officer added the variation in brokerage income The Assessing Officer added the variation in brokerage income The Assessing Officer added the variation in brokerage income amounting to Rs.1,56,87,264/ 56,87,264/- along with variation in exchange along with variation in exchange gain

MARSHALL PRODUCE BROKERS COMPANY PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 3(2)(1), MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

House Property Exchange Gain 1227005 0 1227005 Business Income Total 29771374 5.1 The Assessing Officer added the variation in brokerage income The Assessing Officer added the variation in brokerage income The Assessing Officer added the variation in brokerage income amounting to Rs.1,56,87,264/ 56,87,264/- along with variation in exchange along with variation in exchange gain

ITO EXEMPTION 2 4 MUMBAI, MUMBAI vs. VAIBHAV MEDICAL AND EDUCATION FOUNDATION, MUMBAI

In the result, the appeal by the Revenue is partly allowed

Bench: Shri Amarjit Singhshri Sandeep Singh Karhailito (Exemption) – 2(4), Room No.609, 6Th Floor, Mtnl Building, Peddar Road, Mumbai – 400026 ……………. Appellant Maharashtra V/S Vaibhav Medical & Education Foundation, C-1, Aditya Birla Centre, S.K. Ahire Marg, Worli, ……………. Respondent Mumbai - 400030, Maharashtra Pan – Aaatv3207A

Section 13(3) (b) are clearly invoked? 5. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in allowing standard deduction u/s. 24 of the Act while computing the Income from House Property as the said deduction is not available for charitable Trust/entity/institution as held in the assessee own case

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

145 A of the Income- tax Act ignoring appropriate treatment to Modvat credit. 5. On the facts and in the circumstances of the case and in law, the CIT(A) erred in directing to treat the expenditure of Rs.3,21,98,592/- on consultancy charges as revenue expenditure and allow deduction u/s.35 DD ignoring the fact that under the provisions

BASARIBANU MOHD RAFIQ LATIWALA,MUMBAI vs. ITO 12(3)(3), MUMBAI

In the result, appeal filed by the assessee in ITA No

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 5420/Mum/2016 ("नधा"रण वष" / Assessment Year : 2011-12) Smt. Basaribanu Mohd. Rafiq Income Tax Officer बनाम/ Latiwala, 12(3)(3), V. 701/702 Neelam, Aayakar Bhavan, Rizvi Complex, Mumbai. Carter Road, Bandra (West), Mumbai – 400 050. "थायी लेखा सं./Pan : Abgpl0686G (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

145/- with capital gain account maintained with bank as stipulated u/s 54F(4) of 1961 Act, before ITA 5420/Mum/2016 10 31-07-2011 i.e. due date of filing of return of income u/s 139(1) of 1961 Act. The CIT(A) allowed benefit of Section 54F of 1961 Act of the amount which was actually paid towards acquisition

DCIT-8(1)(2), MUMBAI vs. SHRI. ASHOK SANTU BHAVANI, MUMBAI

In the result, the appeal of the appellant is treated as allowed

Bench: Shri M Balaganesh & Shri Pavan Kumar Gadaledcit – 8(1)(2) Vs. Shri Ashok Santu Room No. 625, 6Th Floor Bhavnani Aayakar Bhavan, 22, New Pushpamilan, Mk Marg, Mumbai – 67 Worli Hills, Worli, 400 020. Mumbai – 400018

145 (Bangalore - Trib.)l[2019] 175 lTD 144 (Bangalore - Trib.), the head note of which reads as under: - I. Section 2(4 7), read with sections 2(42A), 54 and 54F, of the Income-tax Act, 1961 - Capital gains - Transfer (Immovable property) - Assessment year 2015-16 - Assessee acquired a property from a building society under a lease-cum-sale agreement

GRASIM INDUSTRIES LTD ( CORPORATE FINANCE DIVISION),MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

Bench: the CIT(A). The CIT(A) partly allowed the appeal preferred by the Assessee vide order, dated 18/05/2009. 4. Not being satisfied with the relief granted by the Id. CIT(A), the Assessee has preferred appeal before this Tribunal. The Revenue has also filed cross-appeal challenging the relief granted by the Id. CIT(A).

house property excluding the portions occupied by the Assessee for the purpose of business or profession can be computed. However, the Revenue has failed to point out corresponding provision providing for Assessment Years: 2006-2007 computation of depreciation and WDV of Block of Assets excluding the WDV of the asset let out during the relevant previous year. 7.8. We note