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)

house property and allocation of such expenses has not been made resulting into income escaping assessment. 14. It is clear from the record that assessment was reopened beyond the period of 4 years since notice u/s 148 was issued on 29-3-2012. If the assessment has to be reopened beyond four years, then there must be a failure

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)

house property and allocation of such expenses has not been made resulting into income escaping assessment. 14. It is clear from the record that assessment was reopened beyond the period of 4 years since notice u/s 148 was issued on 29-3-2012. If the assessment has to be reopened beyond four years, then there must be a failure

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)

house property and allocation of such expenses has not been made resulting into income escaping assessment. 14. It is clear from the record that assessment was reopened beyond the period of 4 years since notice u/s 148 was issued on 29-3-2012. If the assessment has to be reopened beyond four years, then there must be a failure

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)

house property and allocation of such expenses has not been made resulting into income escaping assessment. 14. It is clear from the record that assessment was reopened beyond the period of 4 years since notice u/s 148 was issued on 29-3-2012. If the assessment has to be reopened beyond four years, then there must be a failure

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)

house property and allocation of such expenses has not been made resulting into income escaping assessment. 14. It is clear from the record that assessment was reopened beyond the period of 4 years since notice u/s 148 was issued on 29-3-2012. If the assessment has to be reopened beyond four years, then there must be a failure

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)

house property and allocation of such expenses has not been made resulting into income escaping assessment. 14. It is clear from the record that assessment was reopened beyond the period of 4 years since notice u/s 148 was issued on 29-3-2012. If the assessment has to be reopened beyond four years, then there must be a failure

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)

house property and allocation of such expenses has not been made resulting into income escaping assessment. 14. It is clear from the record that assessment was reopened beyond the period of 4 years since notice u/s 148 was issued on 29-3-2012. If the assessment has to be reopened beyond four years, then there must be a failure

DCIT CENTRAL CIRCLE-2(4) , MUMBAI vs. RUSTOMJEE EVERSHINE JOINT VENTURE , MUMBAI

In the result, the appeals filed by the revenue for AY 2013-14 &

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.1349/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit, Central Circle-2(4) बिधम/ Rustomjee Evershine Room No. 802, 8Th Floor, Joint Venture Vs. Prathishtha Bhavan, M. K. Global City, Narangi Road, Churchgate, Mumbai- Bypass Road, Close To 400020. Viva College, Virar (W), Virar-401303. Cross Objection No. 27/Mum/2023 Arising Out Of I.T.A. No.1349/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2013-14) Rustomjee Evershine Joint बिधम/ Dcit, Central Circle-2(4) Room No. 802, 8Th Floor, Venture Vs. Global City, Narangi Prathishtha Bhavan, M. K. Bypass Road, Close To Viva Road, Churchgate, College, Virar (W), Virar- Mumbai-400020. 401303. आयकर अपील सं/ I.T.A. Nos.1824 & 1825/Mum/2022 (निर्धारण वर्ा / Assessment Years: 2016-17 & 2014-15) Dcit, Central Circle-2(4) बिधम/ Rustomjee Evershine Room No. 802, 8Th Floor, Joint Venture Vs. Prathishtha Bhavan, M. K. Global City, Narangi Road, Churchgate, Mumbai- Bypass Road, Close To 400020. Viva College, Virar (W), Virar-401303. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaaar7687M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Naresh Kumar Revenue By: Shri P. D. Chougule (Addl. Cit) सुनवाई की तारीख / Date Of Hearing: 25/05/2023 घोषणा की तारीख /Date Of Pronouncement: 31/07/2023

264/-. Thus, the assessee’s claim of interest expenditure to the tune of Rs.7,55,87,118/- as revenue expenditure is allowed. 7. Next ground of appeal of the revenue is against the action of the Ld. CIT(A) disallowing the commission and brokerage of expenses Rs.17,43,949/-. C.O. 27/Mum/2023 A.Ys. 2013-14, 2014-15 & 2016-17 Rustomjee Evershine

DCIT CENTRAL CIRCEL-2(4), MUMBAI vs. RUSTOMJI EVERSHINE JOINT VENTURE, MUMBAI

In the result, the appeals filed by the revenue for AY 2013-14 &

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.1349/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit, Central Circle-2(4) बिधम/ Rustomjee Evershine Room No. 802, 8Th Floor, Joint Venture Vs. Prathishtha Bhavan, M. K. Global City, Narangi Road, Churchgate, Mumbai- Bypass Road, Close To 400020. Viva College, Virar (W), Virar-401303. Cross Objection No. 27/Mum/2023 Arising Out Of I.T.A. No.1349/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2013-14) Rustomjee Evershine Joint बिधम/ Dcit, Central Circle-2(4) Room No. 802, 8Th Floor, Venture Vs. Global City, Narangi Prathishtha Bhavan, M. K. Bypass Road, Close To Viva Road, Churchgate, College, Virar (W), Virar- Mumbai-400020. 401303. आयकर अपील सं/ I.T.A. Nos.1824 & 1825/Mum/2022 (निर्धारण वर्ा / Assessment Years: 2016-17 & 2014-15) Dcit, Central Circle-2(4) बिधम/ Rustomjee Evershine Room No. 802, 8Th Floor, Joint Venture Vs. Prathishtha Bhavan, M. K. Global City, Narangi Road, Churchgate, Mumbai- Bypass Road, Close To 400020. Viva College, Virar (W), Virar-401303. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaaar7687M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Naresh Kumar Revenue By: Shri P. D. Chougule (Addl. Cit) सुनवाई की तारीख / Date Of Hearing: 25/05/2023 घोषणा की तारीख /Date Of Pronouncement: 31/07/2023

264/-. Thus, the assessee’s claim of interest expenditure to the tune of Rs.7,55,87,118/- as revenue expenditure is allowed. 7. Next ground of appeal of the revenue is against the action of the Ld. CIT(A) disallowing the commission and brokerage of expenses Rs.17,43,949/-. C.O. 27/Mum/2023 A.Ys. 2013-14, 2014-15 & 2016-17 Rustomjee Evershine

DCIT CENTRAL CIRCLE-2(4) , MUMBAI vs. RUSTOMJEE EVERSHINE JOINT VENTURE , MUMBAI

In the result, the appeals filed by the revenue for AY 2013-14 &

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.1349/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit, Central Circle-2(4) बिधम/ Rustomjee Evershine Room No. 802, 8Th Floor, Joint Venture Vs. Prathishtha Bhavan, M. K. Global City, Narangi Road, Churchgate, Mumbai- Bypass Road, Close To 400020. Viva College, Virar (W), Virar-401303. Cross Objection No. 27/Mum/2023 Arising Out Of I.T.A. No.1349/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2013-14) Rustomjee Evershine Joint बिधम/ Dcit, Central Circle-2(4) Room No. 802, 8Th Floor, Venture Vs. Global City, Narangi Prathishtha Bhavan, M. K. Bypass Road, Close To Viva Road, Churchgate, College, Virar (W), Virar- Mumbai-400020. 401303. आयकर अपील सं/ I.T.A. Nos.1824 & 1825/Mum/2022 (निर्धारण वर्ा / Assessment Years: 2016-17 & 2014-15) Dcit, Central Circle-2(4) बिधम/ Rustomjee Evershine Room No. 802, 8Th Floor, Joint Venture Vs. Prathishtha Bhavan, M. K. Global City, Narangi Road, Churchgate, Mumbai- Bypass Road, Close To 400020. Viva College, Virar (W), Virar-401303. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaaar7687M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Naresh Kumar Revenue By: Shri P. D. Chougule (Addl. Cit) सुनवाई की तारीख / Date Of Hearing: 25/05/2023 घोषणा की तारीख /Date Of Pronouncement: 31/07/2023

264/-. Thus, the assessee’s claim of interest expenditure to the tune of Rs.7,55,87,118/- as revenue expenditure is allowed. 7. Next ground of appeal of the revenue is against the action of the Ld. CIT(A) disallowing the commission and brokerage of expenses Rs.17,43,949/-. C.O. 27/Mum/2023 A.Ys. 2013-14, 2014-15 & 2016-17 Rustomjee Evershine

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

Section 143 (3) dated 26/12/2018 passed by the learned assessing officer. 050. Assessee originally filed return of income on 31/7/2013 declaring income of ₹ 4,485,040/–. This return was accepted as it is and not selected for scrutiny. Subsequently search took place on 4/2/2016, based on which the notices u/s 153A was issued to the assessee on 5/1/2017, which

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

Section 143 (3) dated 26/12/2018 passed by the learned assessing officer. 050. Assessee originally filed return of income on 31/7/2013 declaring income of ₹ 4,485,040/–. This return was accepted as it is and not selected for scrutiny. Subsequently search took place on 4/2/2016, based on which the notices u/s 153A was issued to the assessee on 5/1/2017, which

PRIYA MOHAN GURNANAI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

Section 143 (3) dated 26/12/2018 passed by the learned assessing officer. 050. Assessee originally filed return of income on 31/7/2013 declaring income of ₹ 4,485,040/–. This return was accepted as it is and not selected for scrutiny. Subsequently search took place on 4/2/2016, based on which the notices u/s 153A was issued to the assessee on 5/1/2017, which

PRIYA MOHAN GURNANAI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

Section 143 (3) dated 26/12/2018 passed by the learned assessing officer. 050. Assessee originally filed return of income on 31/7/2013 declaring income of ₹ 4,485,040/–. This return was accepted as it is and not selected for scrutiny. Subsequently search took place on 4/2/2016, based on which the notices u/s 153A was issued to the assessee on 5/1/2017, which

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. DY CIT -CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

Section 143 (3) dated 26/12/2018 passed by the learned assessing officer. 050. Assessee originally filed return of income on 31/7/2013 declaring income of ₹ 4,485,040/–. This return was accepted as it is and not selected for scrutiny. Subsequently search took place on 4/2/2016, based on which the notices u/s 153A was issued to the assessee on 5/1/2017, which

PRIYA MOHAN GURNANI,NAVI MUMBAI vs. CY CIT-CC-5(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

Section 143 (3) dated 26/12/2018 passed by the learned assessing officer. 050. Assessee originally filed return of income on 31/7/2013 declaring income of ₹ 4,485,040/–. This return was accepted as it is and not selected for scrutiny. Subsequently search took place on 4/2/2016, based on which the notices u/s 153A was issued to the assessee on 5/1/2017, which

SMT.MANJU MAHENDRA GOYAL,MUMBAI vs. INCOME TAX OFFICER 19(2)(3), MUMBAI

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh, Assessment Year: 2012-13 Smt. Manju Mahendra Goyal Income Tax Officer-19(2)(3), A/802, Surya Apartments, Room No.2018, Matru बनाम/ 53, Bhulabhai Desai Road, Mandir, Tardeo Road, Vs. Mumbai-400026 Mumbai-400007 "नधा"रती / Assessee राज"व / Revenue P.A. No.Aafpg2990N

property", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such new asset as provided in clause (a), or, as the case may be, clause (b), of sub-section (1), shall be deemed to be income chargeable under

ITO 16(1)(4), MUMBAI vs. SHASHANKA GHOSH, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2011-12 Income Tax Officer-16(1)(4), Vs Shri Shashanka Ghosh, Room No.438, 4Th Floor, C-701, Jay Bharat Chs Ltd. Aayakar Bhavan, Off. Yari Road,Near Amarnath M. K. Road, Tower, Varsova Andher (West), Mumbai-400020 Mumbai-400061 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Acwpg5915E

property", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such new asset as provided in clause (a), or, as the case may be, clause (b), of sub-section (1), shall be deemed to be income chargeable under