DCIT CEN CIR 8(4), MUMBAI vs. PHOENIX MILLS LTD, MUMBAI

In the results, all the appeals of the revenue are dismissed

Bench: Shri Ramesh C Sharma & Shri Pawan Singhआयकर अपीऱ सं./I.T.A. No. 3991/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2011-12) आयकर अपीऱ सं./I.T.A. No. 3992/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) आयकर अपीऱ सं./I.T.A. No. 3993/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2013-14) आयकर अपीऱ सं./I.T.A. No. 3994/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2014-15) बिधम/ Dy. Commissioner Of M/S Phoenix Mills Ltd. Income Tax, 462, Senapati Bapat Vs. Central Circle-8(4), Marg, Lower Parel, 6Th Floor, Room No. 658, Mumbai-400013. Aayakar Bhavan, M.K. Road, Mumbai 400020 स्थायी ऱेखा सं./जीआइआर सं./ Pan/Gir No. : Aaacp 3325 J (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

Section 14A, and is only to the extent of disallowing expenditure "incurred by the assessee in relation to the tax exemrjt income". This proportion or portion of the tax exempt income surely cannot swallow the entire amount as has happened in this case. 14.6. In view of the above judicial pronouncements, we do not find any infirmity in the order

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

house consisting of several independent units cannot be permitted to act as an impediment to the allowance of the deduction under section 54/54F, it is neither expressly nor by necessary implication prohibited  CIT & ANR. vs. SMT. K.G. RUKMINIAMMA - 331 ITR 211 (Karnataka High Court) Capital gains-Exemption under s. 54-Investment in more than one residential houses/flats Assessee entered into

AMIRALI AKBARALI ENGINEER,MUMBAI vs. ACIT 24(1), MUMBAI

The appeal of the assessee is partly allowed for

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2012-13 Amirali Akbarali Engineer, Vs Acit, A/201, Senha Apna Ghar, Ward-24(1), Unit No.11, Piramal Chamber, Lalbaug, Swami Samarth Nagar, Mumbai Andheri (West), Mumbai-400053 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aacpe9331N

section which requires that the residential house should be built in a 28 Amirali Akbarali Engineer particular manner. A person may construct a house according to his requirements/needs and sometime due to compulsions. There may be several such consideration for a person while constructing a residential house. Identical ratio was laid down by Hon'ble Karnataka High Court

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

211 Taxman 383 (Bom), is that the services are only toward enjoyment of the house property and, accordingly, income therefrom assessable u/s. 22 r/w s.23. The ld. CIT(A), in appeal, was of the view that the assessee’s case is distinguishable from that in the case of J.K. Investors (Bombay) Ltd. (supra), in which case the services were toward

DY CIT DD-4(2), MUMBAI vs. M/S SHETH DEVELOPERS P. LTD., MUMBAI

In the result, appeal of the Revenue in ITA No

Housing Development Pvt. Ltd., vs. DCIT in ITA No.2927/Mum/2019 dated 13/05/2021. 3.3. Respectfully following the same, we delete the addition made in the sum of Rs.35,79,549/- towards deemed notional rental income in respect of unsold flats held as ‘stock in trade’. Accordingly, the addition made in the sum of Rs.35,79,549/- towards notional rent is hereby directed

DY CIT DD-4(2), MUMBAI vs. M/S SHETH DEVELOPERS P. LTD., MUMBAI

In the result, appeal of the Revenue in ITA No

Housing Development Pvt. Ltd., vs. DCIT in ITA No.2927/Mum/2019 dated 13/05/2021. 3.3. Respectfully following the same, we delete the addition made in the sum of Rs.35,79,549/- towards deemed notional rental income in respect of unsold flats held as ‘stock in trade’. Accordingly, the addition made in the sum of Rs.35,79,549/- towards notional rent is hereby directed

M/S SHETH DEVELOPERS P. LTD.,MUMBAI vs. DY CIT CENTRAL CIRCLE- 4(2), MUMBAI

In the result, appeal of the Revenue in ITA No

Housing Development Pvt. Ltd., vs. DCIT in ITA No.2927/Mum/2019 dated 13/05/2021. 3.3. Respectfully following the same, we delete the addition made in the sum of Rs.35,79,549/- towards deemed notional rental income in respect of unsold flats held as ‘stock in trade’. Accordingly, the addition made in the sum of Rs.35,79,549/- towards notional rent is hereby directed

SHETH DEVELOPERS P. LTD.,MUMBAI vs. ACIT CENTRAL CIECLE-4(2), MUMBAI

In the result, appeal of the Revenue in ITA No

Housing Development Pvt. Ltd., vs. DCIT in ITA No.2927/Mum/2019 dated 13/05/2021. 3.3. Respectfully following the same, we delete the addition made in the sum of Rs.35,79,549/- towards deemed notional rental income in respect of unsold flats held as ‘stock in trade’. Accordingly, the addition made in the sum of Rs.35,79,549/- towards notional rent is hereby directed

SHARAN HOSPITALITY P. LTD,MUMBAI vs. DCIT CIR 9(3), MUMBAI

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. No. 6717/Mum/2012 ("नधा"रण वष" / Assessment Year: 2009-10) Sharan Hospitality Private Limited Dy. Cit – Circle 9(3) बनाम/ Ground Floor, Gys Infinity, Mumbai Paranjape ‘B’, Scheme, Subhas Road, Vs. Vile Parle (E), Mumbai-57 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aagcs 8608 F (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Ms. Priyanka Jain ""यथ" क" ओर से/Respondent By : Shri K. Mahondas सुनवाई क" तार"ख / : 26.5.2016 Date Of Hearing घोषणा क" तार"ख / : 12.9.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: This Is An Appeal By The Assessee Directed Against The Order By The Commissioner Of Income Tax (Appeals)-20, Mumbai (‘Cit(A)’ For Short) Dated 18.9.2012, Dismissing The Assessee’S Appeal Contesting Its Assessment U/S.143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) For The Assessment Year (A.Y.) 2009- 10 Vide Order Dated 22.12.2011. 2. The Only Issue Arising In This Appeal Is The Correct Amount At Which The Annual Value In Respect Of The Assessee’S Swami Vivekanand (S.V.) Road, Mumbai Property

211 (Ker). The observations by the Hon’ble Patna High Court in Maharajadhiraj of Darbhanga vs. CIT AIR (1931) Pat. 223 to the effect that the provision is applicable only to those cases in which the house property is habitually let to tenants, and the vacancies referred to are vacancies falling between different tenancies, was considered

ACIT CIR 12(3), MUMBAI vs. LAKE VIEW DEVELOPERS, MUMBAI

In the result, the Revenue’s appeal is allowed

Bench: Shri Sanjay Arora, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. No.3409/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) Lake View Developers Addl. Cit, Range 12(3), बनाम/ 514, Dalamal Towers, Mumbai 211 F.P.J. Marg, Nariman Point, Vs. Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaafl 0589 R (Assessee) : (Revenue) & आयकर अपील सं./I.T.A. No. 4495/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) बनाम/ Addl. Cit, Range 12(3), Lake View Developers Mumbai Mumbai-400 021 Vs. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaafl 0589 R (Revenue) (Assessee) : & आयकर अपील सं./I.T.A. No. 4496/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) Addl. Cit, Range 12(3), Omega Associates, बनाम/ Mumbai 514, Dalamal Tower, 211-F.P.J. Marg, Nariman Point, Vs. Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaafl 0589 R (Revenue) : (Assessee) : Shri Chetan Karia Revenue By Assessee By : Shri R. P. Rastogi सुनवाई क" तार"ख / : 03.5.2016 Date Of Hearing घोषणा क" तार"ख / : 28.7.2016 Date Of Pronouncement

211-F.P.J. Marg, Nariman Point, Vs. Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AAAFL 0589 R (Revenue) : (Assessee) : Shri Chetan Karia Revenue by Assessee by : Shri R. P. Rastogi सुनवाई क" तार"ख / : 03.5.2016 Date of Hearing घोषणा क" तार"ख / : 28.7.2016 Date of Pronouncement 2 ITA Nos. 3409, 4495 &4496/Mum/2013 (A.Y. 2009-10) Lake View Developers

MADHU B KHATRI,MUMBAI vs. ITO WARD 32 (2)(2), MUMBAI

In the result, the assessee’s claim of deduction is allowed

Bench: Confirming The Sale Consideration Determined By Ld. Ao On Adopting The Market Value Of 2 Residential Flats, Ought To Have Considered The Understated Facts, Being;

section require* that the residential house should he built in n particular manner, it sm.'/s that the income-tax authorities cannot insist upon that requirement." C) CIT vs. K.C. Rukminiamma 131 ITR 211 (Knr-HC) "The context in which the expression 'a residential house' is used in s. 54 makes it dear that it was not the intention

NILUFER SAYED,MUMBAI vs. ITO - 21(1)(3), MUMBAI

The appeal stands allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. No.3474/Mum/2019 (िनधा"रण वष" / Assessment Year: 2011-12) Nilufer Sayed Income Tax Officer-25(3)(5) बना A-601, Leela Sagar Mumbai. म/ Yari Road, Versova Vs. Andheri West, Mumbai-400 061. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Cgtps-8161-H (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee By : Shri Stany Saldanha-Ld. Ar Revenue By : Shri Tharian Oommen- Ld. Dr सुनवाई की तारीख/ : 19/01/2021 Date Of Hearing घोषणा की तारीख / : 25/01/2021 Date Of Pronouncement

property’ with the words ‘one residential house’ with effect from 01/04/2015. The rationale of the amendment, as explained in clause 20.3 of the explanatory notes to the Finance Bill was as follows: - 20.3. Certain courts had interpreted that the exemption is also available if investment is made in more than one residential house. The benefit was intended for investment

M/S. HGP COMMUNITY PVT. LT D SUCESSOR TO ALPHA ASSOCIATES,MUMBAI vs. DY. C.I.T. .CENT. CIR.-1(2) , MUMBAI

In the result, the ground

Bench: Shri Om Prakash Kant ()And Ms Kavitha Rajagopal () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13

211, F P Old CGO Bldg. (Annexe), M.K. Road, J Marg, Nariman Point, M/s Alpha Associates ITA Nos. 1851 & 1846/M/2021 Mumbai-400020. Mumbai-400021. 400021. PAN No. AADCH 8389 P AADCH 8389 P Appellant Respondent Revenue by : Mr. Rakesh Ranjan, CIT-DR DR Assessee by Assessee by : Mr. K. Gopal, Sr. Adv. a/w Om Kandalkar, Adv. a/w Om Kandalkar

HGP COMMUNITY PVT.LTD SUCESSOR TO ALPHA ASSOCIATES,MUMBAI vs. DY.C.I.T.CENTRAL CIR -1(2), MUMBAI

In the result, the ground

Bench: Shri Om Prakash Kant ()And Ms Kavitha Rajagopal () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13

211, F P Old CGO Bldg. (Annexe), M.K. Road, J Marg, Nariman Point, M/s Alpha Associates ITA Nos. 1851 & 1846/M/2021 Mumbai-400020. Mumbai-400021. 400021. PAN No. AADCH 8389 P AADCH 8389 P Appellant Respondent Revenue by : Mr. Rakesh Ranjan, CIT-DR DR Assessee by Assessee by : Mr. K. Gopal, Sr. Adv. a/w Om Kandalkar, Adv. a/w Om Kandalkar

DCIT CENT. CIR 1(2) , MUMBAI vs. M/S. ALPHA ASSOCIATES, MUMBAI

In the result, the ground

Bench: Shri Om Prakash Kant ()And Ms Kavitha Rajagopal () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13

211, F P Old CGO Bldg. (Annexe), M.K. Road, J Marg, Nariman Point, M/s Alpha Associates ITA Nos. 1851 & 1846/M/2021 Mumbai-400020. Mumbai-400021. 400021. PAN No. AADCH 8389 P AADCH 8389 P Appellant Respondent Revenue by : Mr. Rakesh Ranjan, CIT-DR DR Assessee by Assessee by : Mr. K. Gopal, Sr. Adv. a/w Om Kandalkar, Adv. a/w Om Kandalkar

M/S HGP COMMUNITY PVT. LTD SUCESSOR TO ALPHA ASSOCIATES,MUMBAI vs. DY.CIT CENT. CIR -1(2) MUMBAI, MUMBAI

In the result, the ground

Bench: Shri Om Prakash Kant ()And Ms Kavitha Rajagopal () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13

211, F P Old CGO Bldg. (Annexe), M.K. Road, J Marg, Nariman Point, M/s Alpha Associates ITA Nos. 1851 & 1846/M/2021 Mumbai-400020. Mumbai-400021. 400021. PAN No. AADCH 8389 P AADCH 8389 P Appellant Respondent Revenue by : Mr. Rakesh Ranjan, CIT-DR DR Assessee by Assessee by : Mr. K. Gopal, Sr. Adv. a/w Om Kandalkar, Adv. a/w Om Kandalkar

HGP COMMUNITY PVT.LTD SUCESSOR TO ALPHA ASSOCIATES,MUMBAI vs. DY.CIT CENT. CIR-1(2) , MUMBAI

In the result, the ground

Bench: Shri Om Prakash Kant ()And Ms Kavitha Rajagopal () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13

211, F P Old CGO Bldg. (Annexe), M.K. Road, J Marg, Nariman Point, M/s Alpha Associates ITA Nos. 1851 & 1846/M/2021 Mumbai-400020. Mumbai-400021. 400021. PAN No. AADCH 8389 P AADCH 8389 P Appellant Respondent Revenue by : Mr. Rakesh Ranjan, CIT-DR DR Assessee by Assessee by : Mr. K. Gopal, Sr. Adv. a/w Om Kandalkar, Adv. a/w Om Kandalkar

DCIT CENT. CIR-1(2) , MUMBAI vs. M/S. ALPHA ASSOCIATES, MUMBAI

In the result, the ground

Bench: Shri Om Prakash Kant ()And Ms Kavitha Rajagopal () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13

211, F P Old CGO Bldg. (Annexe), M.K. Road, J Marg, Nariman Point, M/s Alpha Associates ITA Nos. 1851 & 1846/M/2021 Mumbai-400020. Mumbai-400021. 400021. PAN No. AADCH 8389 P AADCH 8389 P Appellant Respondent Revenue by : Mr. Rakesh Ranjan, CIT-DR DR Assessee by Assessee by : Mr. K. Gopal, Sr. Adv. a/w Om Kandalkar, Adv. a/w Om Kandalkar

M/S HGP COMMUNITY PVT. LTD SUCESSOR TO ALPHA ASSOCIATES,MUMBAI vs. DY.CIT CENT. CIR -1(2), MUMBAI

In the result, the ground

Bench: Shri Om Prakash Kant ()And Ms Kavitha Rajagopal () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13

211, F P Old CGO Bldg. (Annexe), M.K. Road, J Marg, Nariman Point, M/s Alpha Associates ITA Nos. 1851 & 1846/M/2021 Mumbai-400020. Mumbai-400021. 400021. PAN No. AADCH 8389 P AADCH 8389 P Appellant Respondent Revenue by : Mr. Rakesh Ranjan, CIT-DR DR Assessee by Assessee by : Mr. K. Gopal, Sr. Adv. a/w Om Kandalkar, Adv. a/w Om Kandalkar