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

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

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. 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

MORAJ BUILDING CONCEPTS PVT. LTD,MUMBAI vs. DCIT CENT. CIR -5(2), MUMBAI

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

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

264, 263, 265 & 266/MUM/2022 (A.Ys: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17) Moraj Building Concepts Pvt Ltd v. DCIT – Circle – 5(2) Shop No. 28/29, Moraj Residency 1908, 19th Floor Plot No. 1, Sector 16, Sanpada Air India Building Mumbai- 400703 Nariman Point Mumbai – 400 021 PAN: AABCM8573A (Appellant) (Respondent) Assessee Represented by : Shri Jayant Bhatt

MORAJ BUILDING CONCEPTS PVT.LTD,MUMBAI vs. DCIT CENTRAL CIR -5(2), MUMBAI

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

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

264, 263, 265 & 266/MUM/2022 (A.Ys: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17) Moraj Building Concepts Pvt Ltd v. DCIT – Circle – 5(2) Shop No. 28/29, Moraj Residency 1908, 19th Floor Plot No. 1, Sector 16, Sanpada Air India Building Mumbai- 400703 Nariman Point Mumbai – 400 021 PAN: AABCM8573A (Appellant) (Respondent) Assessee Represented by : Shri Jayant Bhatt

MORAJ BUILDING CONCEPTS PVT LTD,NAVI MUMBAI vs. DCIT CENTRAL CIRLE - 5(2), MUMBAI

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

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

264, 263, 265 & 266/MUM/2022 (A.Ys: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17) Moraj Building Concepts Pvt Ltd v. DCIT – Circle – 5(2) Shop No. 28/29, Moraj Residency 1908, 19th Floor Plot No. 1, Sector 16, Sanpada Air India Building Mumbai- 400703 Nariman Point Mumbai – 400 021 PAN: AABCM8573A (Appellant) (Respondent) Assessee Represented by : Shri Jayant Bhatt

MORAZ BUILDING CONCEPTS PVT. LTD,MUMBAI vs. DCIT CENT CIR 5(2), `MUMBAI

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

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

264, 263, 265 & 266/MUM/2022 (A.Ys: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17) Moraj Building Concepts Pvt Ltd v. DCIT – Circle – 5(2) Shop No. 28/29, Moraj Residency 1908, 19th Floor Plot No. 1, Sector 16, Sanpada Air India Building Mumbai- 400703 Nariman Point Mumbai – 400 021 PAN: AABCM8573A (Appellant) (Respondent) Assessee Represented by : Shri Jayant Bhatt

MORAJ BUILDING CONCEPTS PVT. LTD,MUMBAI vs. DCIT CENTRAL CIRCLE- 5(2), MUMBAI

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

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

264, 263, 265 & 266/MUM/2022 (A.Ys: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17) Moraj Building Concepts Pvt Ltd v. DCIT – Circle – 5(2) Shop No. 28/29, Moraj Residency 1908, 19th Floor Plot No. 1, Sector 16, Sanpada Air India Building Mumbai- 400703 Nariman Point Mumbai – 400 021 PAN: AABCM8573A (Appellant) (Respondent) Assessee Represented by : Shri Jayant Bhatt

TULSIDAS V. PATEL PVT LTD,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX 5(3)(2), MUMBAI

Section 24(a) of the Act, the Assessing Officer computed income taxable under the head „Income from House Property‟ at INR 2,61,29,264

CHALET HOTELS LTD.,MUMBAI vs. DY CIT,CC-4(2), MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.2505/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) & आयकर अपील सं/ I.T.A. No.2507/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.2510/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.2511/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No.2513/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) Acit, Central Circle-4(2) बिधम/ M/S. Chalet Hotels Ltd Room No. 1918, 19Th Floor, (As A M/S. Magna Vs. Air India Building, Nariman Distribution & Point, Mumbai-400021. Warehousing Pvt. Ltd.) Plot No. C-30 Raheja Tower, Bandra Kurla Complex, Bandra (E), Mumbai-400051. Pan No.Aaack0411E आयकर अपील सं/ I.T.A. No.1754/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.1755/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2015-16) & आयकर अपील सं/ I.T.A. No.1756/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2014-15) Genext Hardware & Parks बिधम/ Dcit, Central Circle-4(2) Pvt. Ltd. Room No. 1918, Air India Vs. Raheja Tower, Plot No. C- Building, Nariman Point, 30, Oppo. Sidbi, Bandra Mumbai-400021. Kurla Complex, Bandra (E), Mumbai-400051. Pan No. Aaccg5567F

Housing & Land Development Trust's case (supra) Sultan Bros's case (supra) and Karan Pura Development Co. Ltd.'s case (supra) the levy of income tax in the case of one holding house property is premised not on whether the assessee carries on business, as landlord, but on the ownership. The incidence of charge is because of the fact

ACIT- CC -4(2), MUMBAI vs. CHALET HOTELS LTD. (AS A SUCCESSOR TO M/S. MAGNA DISTRIBUTION & WAREHOUSING PVT. LTD.), MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.2505/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) & आयकर अपील सं/ I.T.A. No.2507/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.2510/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.2511/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No.2513/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) Acit, Central Circle-4(2) बिधम/ M/S. Chalet Hotels Ltd Room No. 1918, 19Th Floor, (As A M/S. Magna Vs. Air India Building, Nariman Distribution & Point, Mumbai-400021. Warehousing Pvt. Ltd.) Plot No. C-30 Raheja Tower, Bandra Kurla Complex, Bandra (E), Mumbai-400051. Pan No.Aaack0411E आयकर अपील सं/ I.T.A. No.1754/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.1755/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2015-16) & आयकर अपील सं/ I.T.A. No.1756/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2014-15) Genext Hardware & Parks बिधम/ Dcit, Central Circle-4(2) Pvt. Ltd. Room No. 1918, Air India Vs. Raheja Tower, Plot No. C- Building, Nariman Point, 30, Oppo. Sidbi, Bandra Mumbai-400021. Kurla Complex, Bandra (E), Mumbai-400051. Pan No. Aaccg5567F

Housing & Land Development Trust's case (supra) Sultan Bros's case (supra) and Karan Pura Development Co. Ltd.'s case (supra) the levy of income tax in the case of one holding house property is premised not on whether the assessee carries on business, as landlord, but on the ownership. The incidence of charge is because of the fact

ACIT- CC -4(2), MUMBAI vs. CHALET HOTELS LTD. (AS A SUCCESSOR TO M/S. MAGNA DISTRIBUTION & WAREHOUSING PVT. LTD.), MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.2505/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) & आयकर अपील सं/ I.T.A. No.2507/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.2510/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.2511/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No.2513/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) Acit, Central Circle-4(2) बिधम/ M/S. Chalet Hotels Ltd Room No. 1918, 19Th Floor, (As A M/S. Magna Vs. Air India Building, Nariman Distribution & Point, Mumbai-400021. Warehousing Pvt. Ltd.) Plot No. C-30 Raheja Tower, Bandra Kurla Complex, Bandra (E), Mumbai-400051. Pan No.Aaack0411E आयकर अपील सं/ I.T.A. No.1754/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.1755/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2015-16) & आयकर अपील सं/ I.T.A. No.1756/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2014-15) Genext Hardware & Parks बिधम/ Dcit, Central Circle-4(2) Pvt. Ltd. Room No. 1918, Air India Vs. Raheja Tower, Plot No. C- Building, Nariman Point, 30, Oppo. Sidbi, Bandra Mumbai-400021. Kurla Complex, Bandra (E), Mumbai-400051. Pan No. Aaccg5567F

Housing & Land Development Trust's case (supra) Sultan Bros's case (supra) and Karan Pura Development Co. Ltd.'s case (supra) the levy of income tax in the case of one holding house property is premised not on whether the assessee carries on business, as landlord, but on the ownership. The incidence of charge is because of the fact

ACIT -CC -4(2), MUMBAI vs. CHALET HOTELS LTD. (AS A SUCCESSOR TO M/S. MAGNA DISTRIBUTION PVT. LTD.), MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.2505/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) & आयकर अपील सं/ I.T.A. No.2507/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.2510/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.2511/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No.2513/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) Acit, Central Circle-4(2) बिधम/ M/S. Chalet Hotels Ltd Room No. 1918, 19Th Floor, (As A M/S. Magna Vs. Air India Building, Nariman Distribution & Point, Mumbai-400021. Warehousing Pvt. Ltd.) Plot No. C-30 Raheja Tower, Bandra Kurla Complex, Bandra (E), Mumbai-400051. Pan No.Aaack0411E आयकर अपील सं/ I.T.A. No.1754/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.1755/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2015-16) & आयकर अपील सं/ I.T.A. No.1756/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2014-15) Genext Hardware & Parks बिधम/ Dcit, Central Circle-4(2) Pvt. Ltd. Room No. 1918, Air India Vs. Raheja Tower, Plot No. C- Building, Nariman Point, 30, Oppo. Sidbi, Bandra Mumbai-400021. Kurla Complex, Bandra (E), Mumbai-400051. Pan No. Aaccg5567F

Housing & Land Development Trust's case (supra) Sultan Bros's case (supra) and Karan Pura Development Co. Ltd.'s case (supra) the levy of income tax in the case of one holding house property is premised not on whether the assessee carries on business, as landlord, but on the ownership. The incidence of charge is because of the fact

ACIT CENTRAL CIR -4(2), MUMBAI vs. CHALET HOTELS LTD. (AS A SUCESSOR TO MAGNA DISTRIBUTION & WAREHOUSING PVT. LTD) , MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.2505/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) & आयकर अपील सं/ I.T.A. No.2507/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.2510/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) & आयकर अपील सं/ I.T.A. No.2511/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No.2513/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) Acit, Central Circle-4(2) बिधम/ M/S. Chalet Hotels Ltd Room No. 1918, 19Th Floor, (As A M/S. Magna Vs. Air India Building, Nariman Distribution & Point, Mumbai-400021. Warehousing Pvt. Ltd.) Plot No. C-30 Raheja Tower, Bandra Kurla Complex, Bandra (E), Mumbai-400051. Pan No.Aaack0411E आयकर अपील सं/ I.T.A. No.1754/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) & आयकर अपील सं/ I.T.A. No.1755/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2015-16) & आयकर अपील सं/ I.T.A. No.1756/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2014-15) Genext Hardware & Parks बिधम/ Dcit, Central Circle-4(2) Pvt. Ltd. Room No. 1918, Air India Vs. Raheja Tower, Plot No. C- Building, Nariman Point, 30, Oppo. Sidbi, Bandra Mumbai-400021. Kurla Complex, Bandra (E), Mumbai-400051. Pan No. Aaccg5567F

Housing & Land Development Trust's case (supra) Sultan Bros's case (supra) and Karan Pura Development Co. Ltd.'s case (supra) the levy of income tax in the case of one holding house property is premised not on whether the assessee carries on business, as landlord, but on the ownership. The incidence of charge is because of the fact