CANARA BANK (E-SYNDICATE) BANDRA WEST II BRANCH, MUMBAI,MUMBAI vs. INCOME TAX OFFICER, TDS , MUMBAI

In the result, both the appeal under consideration are allowed

Bench: Shri Narender Kumar Choudhry & Ms. Renu Jauhri

Housing and Area Development Authority (MHADA) and Mumbai Metropolitan Region Development Authority (MMRDA) have fixed deposits with the bank, however, while crediting payment of interest on such deposits, no TDS was deducted by the Bank, during the financial year under consideration. Canara Bank (e-Syndicate Bank) 7. The assessee during the spot verification submitted that as per the provisions

CANARA BANK (E-SYNDICATE) BANDRA WEST II BRANCH,MUMBAI vs. INCOME TAX OFFICER, TDS , MUMBAI

In the result, both the appeal under consideration are allowed

Bench: Shri Narender Kumar Choudhry & Ms. Renu Jauhri

Housing and Area Development Authority (MHADA) and Mumbai Metropolitan Region Development Authority (MMRDA) have fixed deposits with the bank, however, while crediting payment of interest on such deposits, no TDS was deducted by the Bank, during the financial year under consideration. Canara Bank (e-Syndicate Bank) 7. The assessee during the spot verification submitted that as per the provisions

DCIT(OSD)(TDS)-2(3), MUMBAI, MUMBAI vs. WOCKHARDT LTD., MUMBAI

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

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

194A and interest charged for not deposited the same into the government treasury u/s 201(1A): Payment made TDS amount Interest u/s Total u/s 201(1) 201(1A) (TDS+interest) Discount paid to 24,19,72,722 21,86,09,960 46,05,82,682 stockiest Payment of 4,12,827 3,71,340 7,84,167 bonus Interest

DCIT (TDS)-2(3), MUMBAI vs. WOCKHARDT LIMITED, MUMBAI

Accordingly, the grounds (c) raised by the revenue are dismissed

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 6803/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2010-11) Dcit (Tds)-2(3), M/S Wockhardt Ltd. 6Th Floor, Wockhardt Smt. K. G. Mittal बिधम/ Ayurvedic Hospital Bldg. Tower, G Block, Bandra Vs. Room No. 718, 7Th Floor, Kurla Complex, Bandra, Charni Road (W), Mumbai-400 051 Mumbai-400 002 स्थायीलेखासं./जीआइआरसं./ Pan No. Aaacw2472M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & C.O. No. 51/Mum/2020 (निर्धारणवर्ा / Assessment Year: 2010-11) M/S Wockhardt Ltd. Dcit (Tds)-2(3), 6Th Floor, Wockhardt Smt. K. G. Mittal बिधम/ Tower, G Block, Bandra Ayurvedic Hospital Bldg. Vs. Room No. 718, 7Th Floor, Kurla Complex, Bandra, Charni Road (W), Mumbai-400 051 Mumbai-400 002 (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Anand Mohan, Dr प्रत्यथीकीओरसे/Respondentby : Shri Kirit Kamdar, Ar सुनवाईकीतारीख/ : 02.11.2020 Date Of Hearing घोषणाकीतारीख / : 11.12.2020 Date Of Pronouncement

House on 26.08.13 that assessee company shall give credit notes/replacement in settlement of all claims for date expired goods. He submitted that this Clause clearly indicates the relationship exists on the basis of principle and agency because the entire liability on stock not transferred to the stockist. The stockist can return the expired goods. He further brought to our notice

REKHA MAHESHWARI ,DELHI vs. INCOME TAX OFFICER , DELHI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

house property’ from rent of Rs.26,00,000/- received from tenant SVIL Mines Ltd in respect of property situated at D-10, Ring Road, Rajouri 3 Mrs. Rekha Maheshwari Garden, New Delhi. The assessee had claimed credit of TDS of Rs.2,60,000/- @ 10% which was deducted on rent u/s.194I of the Act by the tenant having TAN DELS25756D. Since

DCIT (TDS) 2(1), MUMBAI vs. LAQSHYA MEDIA P. LTD, MUMBAI

In the result, appeal filed by the revenue stands dismissed

Bench: S/Shri Rajendra, A.M. & Sanjay Garg,J.M. आयकर अपील अपील संसंसंसं./Ita No.5157/Mum/2014,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Dcit (Tds)-2(1) M/S. Laqshya Media Pvt. Ltd. Room No.702, 7Th Floor, Laqshya House , Next To Rameshwar Smt. K.G. Mittal Ayirvedic Hospital Temple, Saraswati Baug Society Vs. Building, Charni Rd. Rd.,Jogeshwari (E) Mumbai-400 002. Mumbai-400 060. Pan: Aaacl 5004 C (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri Uday Bhaskar Jakke Assessee By: Shri S. Sriram सुनवाई क" तारीख / Date Of Hearing: 23.01.2017 घोषणा क" तारीख / Date Of Pronouncement: 15.02.2017 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act)

House , Next to Rameshwar Smt. K.G. Mittal Ayirvedic Hospital Temple, Saraswati Baug Society Vs. Building, Charni Rd. Rd.,Jogeshwari (E) Mumbai-400 002. Mumbai-400 060. PAN: AAACL 5004 C (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue by: Shri Uday Bhaskar Jakke Assessee by: Shri S. Sriram सुनवाई क" तारीख / Date of Hearing: 23.01.2017 घोषणा क" तारीख / Date of Pronouncement: 15.02.2017 आयकर

JANAK VITHALDAS VYAS,MUMBAI vs. ASSESSING OFFICER WARD 20(2)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee is allowed for statistical purpose

Bench: Shri Pawan Singh(Physical Hearing)

house property income. Ground No. 2: Interest u/s 234A 1. In accordance with grounds no. 1, the Appellant requests that interest levied u/s 234A should be NIL as the appellant would not liable to pay tax once the income for sub-letting is treated as business income taxable under presumptive taxation under section 44AD.” 2. The brief facts

ACIT 17(1), MUMBAI vs. ELVE CORPORATION, MUMBAI

Bench: Shri Joginder Singh & Shri Ramit Kochar

house property. 20. As far as profits and gains of business or profession are concerned by section 28 these are set out. The income therein shall be chargeable to income tax under this head and the clause thereof would indicate as to how the sub-headings of compensation, income derived by trade, professional or similar association from specific service performed

ACIT 17(1), MUMBAI vs. ELVE CORPORATION, MUMBAI

Bench: Shri Joginder Singh & Shri Ramit Kochar

house property. 20. As far as profits and gains of business or profession are concerned by section 28 these are set out. The income therein shall be chargeable to income tax under this head and the clause thereof would indicate as to how the sub-headings of compensation, income derived by trade, professional or similar association from specific service performed

NENSHI L SHAH,MUMBAI vs. AST CIT CEN CIR 17 & 28, MUMBAI

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

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

house property, income from business or profession, capital gains and income from other sources. In the assessment order, which has been passed in pursuance to the revision order u/s 263 of Ld.CIT, it is held that assessee has paid interest without deducting TDS u/s 194A. But AO omitted to properly consider the provisions of section

VIDYASAGAR ENTERPRISES LLP,MUMBAI vs. PR CIT 13, MUMBAI

In the result, the assessee’s appeal is allowed

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 2653/Mum/2015 ("नधा"रण वष" / Assessment Year: 2010-11) M/S Vidyasagar Enterprises Llp The Pr. Comm. Of Income Tax 13 (Formerly Vidyasagar Investments Ayakar Bhavan, M. K. Road, बनाम/ Private Limited) Mumbai 400020. 6Th Floor, Business Park, S V Road, V. Chincholi Phatak, Malad (W), Mumbai 400064 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aabcv1066B (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Haridas Bhat ""यथ" क" ओर से/Respondent By : Shri G M Doss

housing project, the actual effect of rental income and interest income of Rs. 1,70,07,861/- has been negated. The AO has not investigated the facts from this angle nor has he made any enquiry from the purchasing party. The AO has also not examined the comparative selling rate of immovable properties in Dist. Gandhinagar, Gujarat. Thus, the loss

SAMIR NARAIN BHOJWANI ,MUMBAI vs. DCIT 4(2)(1), MUMBAI

Appeal of the assessee is allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Properties Private Limited (hereinafter for brevity sake referred to as JDPPL). These Memorandum of Agreed Terms were subsequently registered vide a Deed of Confirmation executed by the assessee, in November 2007, on behalf of Rewa. In addition, the assessee also executed, in October 2013, on behalf of Rewa, 4 Deeds of Apartment. In 2018, Rewa filed a suit in Bombay

ACIT 23(3), MUMBAI vs. M/S THE SALSETTE CATHOLIC CO-OP. HOUSING LTD., MUMBAI

In the result, Revenue’s appeal is for the A

Bench: Shri Mahavir Singh & Shri S. Rifaur Rahman

property, income from capital gains and income from other sources. The assessee filed its return of income for the assessment year 2013–14 on 24th September 2013, declaring total income at ` 3 The Salsette Catholic Co– Operative Housing Ltd. 2,13,29,800, after claiming disallowance of ` 2,09,07,670, made under section

ACIT 421 MUMBAI, MUMBAI CITY vs. SAMIR NARAIN BHOJWANI, MUMBAI

Appeal of the assessee is allowed for statistical purposes and the\nappeal of the revenue is dismissed

Properties Private Limited\n(hereinafter for brevity sake referred to as JDPPL). These Memorandum of\nAgreed Terms were subsequently registered vide a Deed of Confirmation\nexecuted by the assessee, in November 2007, on behalf of Rewa. In addition, the\nassessee also executed, in October 2013, on behalf of Rewa, 4 Deeds of\nApartment.\nIn 2018, Rewa filed a suit

ADDL CIT RG 1(1), MUMBAI vs. ACC LTD, MUMBAI

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

194A(3)(iii) of the Act. The only dispute is with regard to the residential status of lender of external commercial borrowings to the assessee and interest payment on such external commercial borrowings. The assessee claims that it has borrowed external commercial borrowings from Singapore branch and which is a main lender of the loan. Therefore, any interest payment

ACC LTD ( FORMERLY KNOWN AS THE ASSOCIATED CEMENT COMPANIES LTD),MUMBAI vs. ADDL CIT RG 1(1), MUMBAI

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

194A(3)(iii) of the Act. The only dispute is with regard to the residential status of lender of external commercial borrowings to the assessee and interest payment on such external commercial borrowings. The assessee claims that it has borrowed external commercial borrowings from Singapore branch and which is a main lender of the loan. Therefore, any interest payment

ACC LIMITED (FORMERLY KNOWN AS THE ASSOCIATED CEMENT COMPANIES LTD.),MUMBAI vs. ACIT - LTU, MUMBAI

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

194A(3)(iii) of the Act. The only dispute is with regard to the residential status of lender of external commercial borrowings to the assessee and interest payment on such external commercial borrowings. The assessee claims that it has borrowed external commercial borrowings from Singapore branch and which is a main lender of the loan. Therefore, any interest payment

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

194A – Interest on loans 4,12,416 Nil 10,686 Section 194C Contractor 78,06,579 Nil 78,06,579 Section 194J – Supervision Charges 2,55,100 Nil 2,55,100 Section 194H – Brokerage Expenses/ 2,50,000 Nil 2,50,000 commission Section 194J – professional charges 50,000 Nil 50,000 4. Adhoc Disallowance for direct Expenses