SIR RATAN TATA TRUST,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-2(1), MUMBAI

In the result, both the appeals of the assessee in both AY 2014-15 and AY

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

House, 24, National Faceless Assessment Homi Mody Street, Fort, Centre-2(1), Vs. Mumbai-400001 MTNL Tele Building, PAN : AAATS1013P Cumballa Hills, Peddar Road, Mumbai-400026. Appellant) : Respondent) Appellant/Assessee by : Shri P. J. Pardiwala a/w Shri Sukhsagar Syal, AR Revenue/Respondent by : Shri Sanyogita Nagpal, CIT-DR Date of Hearing : 22.07.2024 Date of Pronouncement 26.08.2024 : Per Padmavathy S, AM: 1. These

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

161 house' as occurring in section 54 can include more than one or plural residential house - Held, yes The Judgment of High Court "Section 54 of the Income-tax Act, of Karnataka, in case of 1961 - Capital gains - Profit on sale Arun K. Thiagarajan V. of property used for residence Commissioner of Income (Residential house, connotation of) Tax (Appeals

SETH WALCHAND HIRACHAND MEMORIAL TRUST,MUMBAI vs. ITO (E) II(1), MUMBAI

In the result, the appeal filed by the assessee is hereby ordered to be Allowed

Bench: Shri D. Karunakara Rao, Am & Shri Amarjit Singh, Jm

House, 11th Floor, 5th Floor, Piramal Chambers, 247 Park, L.B.S. Marg, Parel, Lalbaug Vikhroli (West) Mumbai - 400012 Mumbai - 400083 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAATW0014E (अपीलाथ" /Appellant) (""थ" / Respondent) .. Assessee by: Ms. Vaibhavi Patel Revenue by: Shri M. C. Omi Ningshan सुनवाई की तारीख / Date of Hearing: 05.01.2017 घोषणा की तारीख /Date of Pronouncement: 29.03.2017 आदेश

M/S.EMCO DYESTUFF PRIVATE LIMITED,MUMBAI vs. DCIT 12(2)(1), MUMBAI

In the result appeal of the assessee in ITA No

Bench: Shri Pawan Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.703/Mum/2018 (नििाारण वर्ा / Assessment Year: 2013-14) बिाम/ M/S. Emco Dyestuff Dcit 12(2)(1), Private Ltd. 5Th Floor, Unit No. 304, Earnest House, V. Western Edge, Nariman Point, W E Highway, Mumbai-400021 Dattapada Road, Borivali East, Mumbai-400066 स्थायी ऱेखा सं./ Pan: Aaace1167D (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Snehal R. Shah Revenue By: Shri. V.K Chaturvedi (Dr) सुनवाई की तारीख /Date Of Hearing : 10.04.2019 घोषणा की तारीख /Date Of Pronouncement : 04.07.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 703/Mum/2018, Is Directed Against Appellate Order Dated 16.10.2017, Passed By Learned Commissioner Of Income Tax (Appeals)-20, Mumbai (Hereinafter Called “The Cit(A)”) In Appeal Number Cit(A)-20/Dcit-12(2)(1)/It-10040/16- 17 For Assessment Year 2013-14, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 11.03.2016 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2013-14. I.T.A. No.703/Mum/2018

Section 32 shall be restricted to fair proportionate part thereof which the Assessing Officer may determine having regard to the user of such building............. for the purposes of business of profession. " 6.3 In view of the above, the appellant is not entitled to depreciation on the premises let out. The only problem that arises is that

ASST CIT (E) I(1),MUMBAI vs. JAMSHETJEE TATA TRUST, MUMBAI

House, Piramal Chamber, Lalbaug, Vs 24, Homi Mody Street Mumbai-400 012. Mumbai-400 001. PAN:AAATJ 0095 N (अपीलाथ" /Appellant) (""यथ" / Respondent) िनधा"रती िनधा"रती ओर ओर सेसेसेसे/Assessee by : Shri Dilip J. Thakkar िनधा"रती िनधा"रती ओर ओर राज"व क" ओर से/ Revenue by : Shri Alok Johri-DR सुनवाई सुनवाई क" क" तारीख तारीख / Date

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

161(1) of the Act. Ground No. 8: Taxation of income which had already been Ground No. 8: Taxation of income which had already been Ground No. 8: Taxation of income which had already been considered in the returns of income of the beneficiaries considered in the returns of income of the beneficiaries considered in the returns of income

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

161(1) of the Act. Ground No. 8: Taxation of income which had already been Ground No. 8: Taxation of income which had already been Ground No. 8: Taxation of income which had already been considered in the returns of income of the beneficiaries considered in the returns of income of the beneficiaries considered in the returns of income

RATAN TATA TRUST,MUMBAI vs. CIT (E), MUMBAI

In the result, the appeal is allowed

house property', in respect of which there was a sharp divergence of opinion amongst the High Courts, was clarificatory Assessment year: 2014-15 Page 21 of 43 and declaratory in nature and consequently retrospective. Similarly, in Brij Mohan Das Laxman Dasv. C/T(1997] 223 ITR 825/90 Taxman 41 (SC), explanation 2 added to section 40 of the Act was held

J.R.D TATA TRUST ,MUMBAI vs. CIT (E), MUMBAI

In the result, the appeal is allowed

house property', in respect of which there was a sharp divergence of opinion amongst the High Courts, was clarificatory Assessment year: 2014-15 Page 21 of 43 and declaratory in nature and consequently retrospective. Similarly, in Brij Mohan Das Laxman Dasv. C/T(1997] 223 ITR 825/90 Taxman 41 (SC), explanation 2 added to section 40 of the Act was held

ANJIS DEVELOPERS PRIVATE LIMITED,MUMBAI vs. PRINCIPLE CIT-5,MUMBAI, MUMBAI

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

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2017-18 Anjis Developers Private Limited, Pcit-5, 2Nd Floor, Soham Apartments, Room No. 515, 5Th Floor, 208, Walkeshwar Road, Teen Vs. Aayakar Bhavan, Mk. Batti, Road, Mumbai-400006. Mumbai-400020. Pan No. Aaaca 6022 H Appellant Respondent : Assessee By S. Sriram/Dinesh Kukreja/Ssnyaknavedie Revenue By : Shri Chetan Kacha, Dr : Date Of Hearing 25/11/2022 Date Of Pronouncement : 20/02/2023

house property’ in respect of unsold property’ in respect of unsold flats,the Assessing Officer was he Assessing Officer was required to initiate penalty proceedings u/s 270A of the Act and initiate penalty proceedings u/s 270A of the Act and initiate penalty proceedings u/s 270A of the Act and non-initiation of penalty of penalty has rendered the assessment order

PUNIT DEORA TRUST ,MUMBAI vs. ITO, WARD, 25(3)(1), MUMBAI

In the result, the appeal of the assessee is allowed for\nstatistical purposes

House Property income is being taxed in individual hands\nof each beneficiary at maximum marginal rate.\n4.1 In respect of intimation order u/s 143(1),it is contented that the\nadjustment made is beyond permissible adjustments u/s 143(1)(a).\n3rdproviso to sec 143(1) permitting adjustments based on TDS stood\nwithdrawn from AY 2018-19. Adjustment made being without

NERKA CHEMICALS P. LTD,GUJRAT vs. ASST CIT CEN CIR 38, MUMBAI

In the result this ground of appeal is allowed for statistical purpose

Bench: Shri R.C. Sharma, Accountant Mamber & Shri Pawan Singh

161 CTR 81) (Del HC) and (v) Union of India vs Ibrahim Uddin (2012) 8 SCC 148. 26. On the other hand the ld. Sr. Counsel for the assessee objected for the admission of the additional evidence, it was submitted that it is not open to the Revenue to make an application for admission of additional evidence. The scope

MLL LOGISTICS PVT. LTD.,MUMBAI vs. ACIT - 3(2)(1), MUMBAI

In the result, appeal is partly allowed

Bench: Shri G.S. Pannu (Hon’Ble) & Shri Saktijit Dey (Hon’Ble)

section 133(6) of the Act from the housing society and making further enquiry, the assessing officer found that the market value of the rent in the particular area is between Rs. 4 to 4.9 lakhs per month. Thus, he was of the view that the assessee, in lieu of the reduced rent, has received refundable deposit of Rs. Crores

M/S. STANDARD CHARTERED BANK,MUMBAI vs. THE ACIT (IT)1(3), MUMBAI

In the result, appeal filed by the assessee is allowed and appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blestandard Chartered Bank V. Acit – Range-1(3) Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Adit (It)– 2(3) V. Standard Chartered Bank Room No. 120, 1St Floor Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Shri P.J. Pardiwala & Assessee Represented By : Shri Fenil Bhatt Shri Soumendu Kumar Dash Department Represented By :

property of the Housing Board. It was held that the expenditure was incurred wholly and exclusively on the welfare of the employees and, therefore, constituted legitimate business expenditure. As the assessee company acquired no ownership rights in the tenements, this Court said that the expenditure was incurred merely with a view to carry on the business of the company more

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Section 41D of The MPT Act. However the doctrine of proportionality is a principle in law, which gives direction to a thought of a judge while imposing penalty. It is based on the idea of justice and objectivity. The penalty imposed on a person should be commensurate with the wrong done by him. Therefore, it is always a matter

TRENT LTD,MUMBAI vs. ADDL. C.I.T.-2(3), MUMBAI

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Trent Ltd., V. Add. Cit – 2(3) Bombay House, 2Nd Floor, 24 Aayakar Bhavan, M.K. Road Homi Mody Street, Fort Mumbai Mumbai – 400 001 Pan: Aaacl1838J (Appellant) (Respondent) Addl. Cit – 2(3) V. M/S. Trent Ltd., Room No. 556, 5Th Floor Bombay House, 2Nd Floor, 24 Aayakar Bhavan, M.K. Road Homi Mody Street, Fort Mumbai - 400 020 Mumbai – 400 001 Pan: Aaacl1838J (Appellant) (Respondent) M/S. Trent Ltd., V. Dy. Cit – 2(3) Bombay House, 2Nd Floor, 24 Aayakar Bhavan, M.K. Road Homi Mody Street, Fort Mumbai Mumbai – 400 001 Pan: Aaacl1838J (Appellant) (Respondent)

house property, the AO estimated the ALV at Rs.35,50,000/- by taking a comparable case of a government owned building meant for central government officers known as Belvedere nevertheless the building is located at a different location and after ascertaining the rent of the said property at @ Rs.60.50 per sq. ft. determined the market rate at Rs. 60.50 plus