DIRECTI INTERNET SOLUTIONS PVT LTD,MUMBAI vs. ACIT 5(1)(2), MUMBAI

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

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

house property’ and accordingly, disallowed the claim of the depreciation of the assessee disallowed the claim of the depreciation of the assessee disallowed the claim of the depreciation of the assessee on the building. 3. On further appeal, the Ld. CIT(A) upheld the finding of the On further appeal, the Ld. CIT(A) upheld the finding

DIRECTI INTERNET SOLUTIONS PVT LTD,MUMBAI vs. ITO 5(1)(3), MUMBAI

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

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

house property’ and accordingly, disallowed the claim of the depreciation of the assessee disallowed the claim of the depreciation of the assessee disallowed the claim of the depreciation of the assessee on the building. 3. On further appeal, the Ld. CIT(A) upheld the finding of the On further appeal, the Ld. CIT(A) upheld the finding

DCIT CC 4(2), MUMBAI vs. ROCKFORT ESTATE DEVELOPERS PVT LTD, MUMBAI

In the result, the appeal filed by the revenue is dismissed and the Cross objections filed by the assessee are allowed for statistical purposes

Bench: Shri S Rifaur Rahman & Shri Pavan Kumar Gadaledcit, Cc-4(2) Vs M/S Rockfort Estate Room No. 1918, 19Th Developers Pvt Ltd Floor, Air India Bldg, 1,Leela Baug, Andheri – Nariman Point, Kurla, Mumbai – 400021. Mumbai – 400051. Pan/Gir No. : Aabcr7896K Appellant .. Respondent Co No. 72/Mum/2021 (Arising Out Of Ita No. 4091/Mum/2019 A.Y 2014-15) M/S Rockfort Estate Vs Dcit, Cc-4(2) Developers Pvt Ltd Room No. 1918, 19Th 1, Leela Baug,Andheri Floor, Air India Bldg, – Kurla, Nariman Point, Mumbai – 400051. Mumbai – 400021. Pan/Gir No. : Aabcr7896K Appellant .. Respondent Assessee By : Mr.Rahul Hakani.Ar Revenue By : Mr.S.N. Kabra.Dr Date Of Hearing 28.01.2022 Date Of Pronouncement 25.04.2022 आदेश / O R D E R Per Pavan Kumar Gadale, Jm: The Revenue Has Filed The Appeal Against The Order Of The Commissioner Of Income Tax (Appeals)-52

Section 36(1)(iii) of the Act towards disallowance of interest does not arise as the same was disallowed by the ld. AO only due to the fact of changing the head of ‘income from house property’ to ‘business’. Hence, the ld. CIT(A) held that this issue is only of academic interest and no disallowance could be made u/s.36

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

32,01,53,505 - - - - - Infra- A-E Total 1,91,48,11,481 7,55,87,117 85,96,871 6,69,90,245 5,29,71,264 1,40,18,981 Amount of 1,40,18,981 interest to be disallowed C.O. 27/Mum/2023 A.Ys. 2013-14, 2014-15 & 2016-17 Rustomjee Evershine Joint Venture 7.6 Therefore, following the decision

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

32,01,53,505 - - - - - Infra- A-E Total 1,91,48,11,481 7,55,87,117 85,96,871 6,69,90,245 5,29,71,264 1,40,18,981 Amount of 1,40,18,981 interest to be disallowed C.O. 27/Mum/2023 A.Ys. 2013-14, 2014-15 & 2016-17 Rustomjee Evershine Joint Venture 7.6 Therefore, following the decision

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

32,01,53,505 - - - - - Infra- A-E Total 1,91,48,11,481 7,55,87,117 85,96,871 6,69,90,245 5,29,71,264 1,40,18,981 Amount of 1,40,18,981 interest to be disallowed C.O. 27/Mum/2023 A.Ys. 2013-14, 2014-15 & 2016-17 Rustomjee Evershine Joint Venture 7.6 Therefore, following the decision

ISLAND STAR MALL DEVELOPES PRIVATE LIMITED,MUMBAI SUBURBAN vs. DY COMMISSIONER OF INCOME TAX, CIRCLE 6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadale

Section under which order Date of order is passed 1 2016-17 143(3) 26.12.2018 2 2017-18 143(3) 21.12.2019 3 2018-19 143(3) 21.06.2021 4 2019-20 143(1) 28.03.2021 5 2020-21 143(3) 22.09.2022 6 2021-22 143(1) 07.03.2023 We considering the facts, circumstances and submissions as discussed in the above paragraphs observe that

ISLAND STAR MALL DEVELOPES PRIVATE LIMITED,MUMBAI SUBURBAN vs. DY COMMISSIONER OF INCOME TAX, CIRCLE 6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadale

Section under which order Date of order is passed 1 2016-17 143(3) 26.12.2018 2 2017-18 143(3) 21.12.2019 3 2018-19 143(3) 21.06.2021 4 2019-20 143(1) 28.03.2021 5 2020-21 143(3) 22.09.2022 6 2021-22 143(1) 07.03.2023 We considering the facts, circumstances and submissions as discussed in the above paragraphs observe that

ISLAND STAR MALL DEVELOPES PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadale

Section under which order Date of order is passed 1 2016-17 143(3) 26.12.2018 2 2017-18 143(3) 21.12.2019 3 2018-19 143(3) 21.06.2021 4 2019-20 143(1) 28.03.2021 5 2020-21 143(3) 22.09.2022 6 2021-22 143(1) 07.03.2023 We considering the facts, circumstances and submissions as discussed in the above paragraphs observe that

ISLAND STAR MALL DEVELOPES PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadale

Section under which order Date of order is passed 1 2016-17 143(3) 26.12.2018 2 2017-18 143(3) 21.12.2019 3 2018-19 143(3) 21.06.2021 4 2019-20 143(1) 28.03.2021 5 2020-21 143(3) 22.09.2022 6 2021-22 143(1) 07.03.2023 We considering the facts, circumstances and submissions as discussed in the above paragraphs observe that

ASSTT. COMMISSIONER OF INCOME TAX CIRCLE 6(1)(2), MUMBAI vs. M/S ISLAND STAR MALL DEVELOPERS PVT LTD, MUMBAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadale

Section under which order Date of order is passed 1 2016-17 143(3) 26.12.2018 2 2017-18 143(3) 21.12.2019 3 2018-19 143(3) 21.06.2021 4 2019-20 143(1) 28.03.2021 5 2020-21 143(3) 22.09.2022 6 2021-22 143(1) 07.03.2023 We considering the facts, circumstances and submissions as discussed in the above paragraphs observe that

ASSTT. COMMISSIONER OF INCOME TAX CIRCLE 6(1)(2), MUMBAI vs. M/S ISLAND STAR MALL DEVELOPERS PVT LTD, MUMBAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadale

Section under which order Date of order is passed 1 2016-17 143(3) 26.12.2018 2 2017-18 143(3) 21.12.2019 3 2018-19 143(3) 21.06.2021 4 2019-20 143(1) 28.03.2021 5 2020-21 143(3) 22.09.2022 6 2021-22 143(1) 07.03.2023 We considering the facts, circumstances and submissions as discussed in the above paragraphs observe that

ASSTT. COMMISSIONER OF INCOME TAX CIRCLE 6(1)(2), MUMBAI vs. M/S ISLAND STAR MALL DEVELOPERS PVT LTD, MUMBAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadale

Section under which order Date of order is passed 1 2016-17 143(3) 26.12.2018 2 2017-18 143(3) 21.12.2019 3 2018-19 143(3) 21.06.2021 4 2019-20 143(1) 28.03.2021 5 2020-21 143(3) 22.09.2022 6 2021-22 143(1) 07.03.2023 We considering the facts, circumstances and submissions as discussed in the above paragraphs observe that

MODERN ABODES PVT LTD,MUMBAI vs. ITO WARD 12(3)(4) , MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blemodern Abodes Pvt. Ltd., V. Income Tax Officer – 12(3)(4) C/O. Gulabani & Co. Room No. 148, Aayakar Bhavan M.K. Road, Mumbai - 400020 506, 5Th Floor Shree Prasad House 35Th Road, Off. Linking Road Bandra (W), Mumbai - 400050 Pan: Aagcm1595B (Appellant) (Respondent) Assessee Represented By : Ms. Neelam Jadhav Shri Ashish Kumar Deharia Department Represented By :

section 23(1) of the Act and determined the rent at 10% of the value in respect of the property and accordingly additions made. In this regard, assessee filed an objection letters dated 02.09.2016 and 21.10.2016 in which assessee submitted that till the occupation certificate is obtained, hence, assessee has not received the possession of the property, therefore no deemed

ISLAND STAR MALL DEVELOPES PRIVATE LIMITED,MUMBAI SUBURBAN vs. DY COMMISSIONER OF INCOME TAX, CIRCLE 6(3)(1), MUMBAI

32,217/- under “income from house property” may kindly be adjudicated.\n9. Without prejudice to ground No. 1, the Ld. CIT(A) erred in not holding that Bad Debt\nexpenses of Rs. 4,42,48,993/- is required to be allowed under the head “Income from\nHouse Property” unrealized rent. The appellant prays that the disallowance of Bad\nDebt expenses

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 6(1)(2), MUMBAI vs. M/S ISLAND STAR MALL DEVELOPERS PVT LTD, MUMBAI

In the result, the\nappeal filed by the revenue is dismissed\n35

32,217/- under “income from house property” may kindly be adjudicated.\n9. Without prejudice to ground No. 1, the Ld. CIT(A) erred in not holding that Bad Debt\nexpenses of Rs. 4,42,48,993/- is required to be allowed under the head “Income from\nHouse Property” unrealized rent. The appellant prays that the disallowance of Bad\nDebt expenses

ASSTT COMMISSIONER OF INCOME TAX CIRCLE 6(1)(2), MUMBAI vs. M/S ISLAND STAR MALL DEVELOPERS PVT LTD, MUMBAI

In the result, the appeals filed by the assessee are\npartly allowed for statistical purposes and the appeals filed\nby the revenue are dismissed

32,217/- under “income from house property” may kindly be adjudicated.\n9. Without prejudice to ground No. 1, the Ld. CIT(A) erred in not holding that Bad Debt\nexpenses of Rs. 4,42,48,993/- is required to be allowed under the head “Income from\nHouse Property” unrealized rent. The appellant prays that the disallowance of Bad\nDebt expenses

ISLAND STAR MALL DEVELOPES PRIVATE LIMITED,MUMBAI SUBURBAN vs. DY COMMISSIONER OF INCOME TAX, CIRCLE 6(3)(1), MUMBAI

32,217/- under “income from house property” may kindly be adjudicated.\n9. Without prejudice to ground No. 1, the Ld. CIT(A) erred in not holding that Bad Debt\nexpenses of Rs. 4,42,48,993/- is required to be allowed under the head “Income from\nHouse Property” unrealized rent. The appellant prays that the disallowance of Bad\nDebt expenses