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

391 (Guj)] by the High Court of Gujarat, in our view, correctly, to mean as income "arising or accruing in India". The amendment to the section by way of an Explanation in 1983 effected a change in the scope of that judicial definition so as to include with effect from 1979, "income payable for service rendered in India". 19. When

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

391 (Guj)] by the High Court of Gujarat, in our view, correctly, to mean as income "arising or accruing in India". The amendment to the section by way of an Explanation in 1983 effected a change in the scope of that judicial definition so as to include with effect from 1979, "income payable for service rendered in India". 19. When

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

391 (Guj)] by the High Court of Gujarat, in our view, correctly, to mean as income "arising or accruing in India". The amendment to the section by way of an Explanation in 1983 effected a change in the scope of that judicial definition so as to include with effect from 1979, "income payable for service rendered in India". 19. When

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

391 (Guj)] by the High Court of Gujarat, in our view, correctly, to mean as income "arising or accruing in India". The amendment to the section by way of an Explanation in 1983 effected a change in the scope of that judicial definition so as to include with effect from 1979, "income payable for service rendered in India". 19. When

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

391 (Guj)] by the High Court of Gujarat, in our view, correctly, to mean as income "arising or accruing in India". The amendment to the section by way of an Explanation in 1983 effected a change in the scope of that judicial definition so as to include with effect from 1979, "income payable for service rendered in India". 19. When

CHALET HOTELS LTD.,MUMBAI vs. DY CIT,CENTRAL CIRCLE-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

391 (Guj)] by the High Court of Gujarat, in our view, correctly, to mean as income "arising or accruing in India". The amendment to the section by way of an Explanation in 1983 effected a change in the scope of that judicial definition so as to include with effect from 1979, "income payable for service rendered in India". 19. When

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

391 (Guj)] by the High Court of Gujarat, in our view, correctly, to mean as income "arising or accruing in India". The amendment to the section by way of an Explanation in 1983 effected a change in the scope of that judicial definition so as to include with effect from 1979, "income payable for service rendered in India". 19. When

DCIT CENT. CIR. -4(1), CENTRAL RANGE-4, MUMBAI vs. M/S. RUNWAL DEVELOPERS P. LTD., MUMBAI

In the result, appeal filed by the Revenue is allowed for statistical purpose

Bench: Shri G. Manjunatha & Shri Ravish Sood

section 24(1) on account of repairs and accordingly, sum of Rs.3,75,15,126/- was offered as taxable income. The AO observed that the assessee, while computing its income from business has failed to apportion and disallow expenses debited to the profit and loss account which can be attributable to rental income earned by it. Since the assessee

RUNWAL DEVELOPEMENT P.LTD,MUMBAI vs. ASST CIT CEN CIR 23, MUMBAI

In the result, assessee’s appeal in ITA No 4824/Mum/2014 is partly allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri Ramit Kochar

section 24(1) on account of repairs and accordingly, sum of Rs.3,75,15,126/- was offered as taxable income. The AO observed that the assessee, while computing its income from business has failed to apportion and disallow expenses debited to the profit and loss account which can be attributable to rental income earned by it. Since the assessee

PEGASUS PROPERTIES P. LTD.,PUNE vs. DY CIT, CC-2(3), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

house property’. The provisions of Section 23(4) of the Act are meant only for properties that are held as investments and not as stock in trade. We find that decision rendered by the Hon’ble Jurisdictional High Court in the case of Mangla Homes Pvt. Ltd., reported in 325 ITR 281 would not be applicable in the instant case

SCAFFOLD PROPERTIES LTD,MUMBAI vs. DCIT 5(3), MUMBAI

In the result the ground

Bench: Shri Shamim Yahya & Shri Pawan Singhscaffold Properties Pvt. Ltd. Dcit-5(3) 373, Konark House, Veer Aayakar Bhavan, M.K. Road, Savarkar Road, Ground Floor, Mumbai-400020. Near Siddhi Vinayak Temple, Vs. Prabhadevi, Dadar (West), Mumbai-400028. Pan: Aagcs1847J Appellant Respondent Appellant By : Shri Nitesh Joshi (Ar) Respondent By : Shri Chaudhary Arun Kumar Singh (Dr) Date Of Hearing : 11.02.2019 Date Of Pronouncement : 05.04.2019

section 143(3) on 30.11.2012. The Assessing Officer while passing the assessment order treated the amount of Rs. 37,34,450/- received on account of outgoing charges as “Income from House Property” in place of “Income from Business and Profession” as claimed by assessee. On appeal before the ld. CIT(A), the action of Assessing Officer

DCIT CEN CIR 1(4), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

In the result, appeal of the revenue and the assessee are partly allowed, and the additional ground of the assessee is dismissed

Bench: Shri Narendra Kumar Billaiya & Shri Anikesh Banerjee

house property. Deduction allowable, as per the provision of section 24 of the Act, Grasim Industries Ltd. the assessee cannot be allowed depreciation in addition to this deduction. No depreciation can be allowed on a let-out property. The Ld. CIT(A), in the assessee’s own case for AY 2008-09 and the earlier assessment year, has upheld

KIRIT D. SANGHVI AND 2 OTHERS,MUMBAI vs. ITO 13(3)(1), MUMBAI

Bench: Shri R.C. Sharma, Am & Shri Ravish Sood, Jm आमकय अऩीर सं./I.T.A. No. 6866/Mum/2013 (निर्धारण वषा / Assessment Year: 2009-10)

391 Ward 13(3)(1); R.No. 428, Narshi Natha Street, Aayakar Bhavan, बिधम/ Masjid Bunder M.K. Marg, Mumbai- 400 009 Mumbai 400 020. Vs. स्थायीलेखासं./जीआइआरसं./ PAN/GIR No. AAATK0019M (अऩीराथी/Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से/ Appellant by : Shri Sanjay Parikh प्रत्मथी की ओय से/Respondentby : Shri Saurabh Kumar (Sr. AR) सुनवाई की तायीख/ : 10/02/2017 Date of Hearing घोषणा

THE DCIT CIR 7(1), MUMBAI vs. M/S. PIRAMAL ENTERPRISES LTD., MUMBAI

In the result, appeal of the assessee in ITA

Bench: Known As Nicholas Piramal Mumbai - 400020 India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) Dcit. Circle 7(1), Vs. M/S. Piramal Enterprises Ltd. Aayakar Bhavan (Formerly Known As Piramal Healthcare Mumbai - 400020 Ltd.,) (Before Known As Nicholas Piramal India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) M/S. Piramal Enterprises Ltd. Vs. Deputy Commissioner Of Income (Formerly Known As Piramal Tax Healthcare Ltd.,) Range 7(3)(2), (Before Known As Nicholas Piramal Mumbai - 400020 India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) M/S. Piramal Enterprises Limited

391(7) by any one of the parties, but no such appeal was ever filed.” 7.5. The ld. DR before us was not able to point out whether any appeal u/s.391(7) of the Companies Act, 1956 against the order of amalgamation sanctioned by the Hon‟ble High Court, had been preferred by the Income Tax department. In view

CHHEDA HOUSING DEVELOPMENT CORPORATION,MUMBAI vs. ADDL CIT 32(1), MUMBAI

In the result the grounds of appeal raised by the assessee are allowed

Bench: Shri G.S. Pannu, Vice- & Shri Pawan Singhm/S Chheda Housing Addl. Cit-32(1) Development Corporation 2Nd Floor, C-11, Pratyakshkar 109-111, Goyal Shopping Bhavan, Bandra-Kurla Centre, Opp. Railway Station, Complex, Bandra East, Vs. Borivali (W), Mumbai-400051. Mumbai-400092. Pan: Aaefc1484E Appellant Respondent Appellant By : Dr. K. Shivaram With Shri Rahul K. Hakkani (Ar) Respondent By : Shri H.N. Singh Cit –Dr With Shri Rajeev Gubgotra (Sr.Dr) Date Of Hearing : 05.04.2019 Date Of Pronouncement : 29.05.2019 Order Under Section 254(1)Of Income Tax Act

391. The Ld. CIT(A) had erroneously confirmed the findings of the Ld.AO and jumbled up the chronology of events presented by the appellant firm and completely disregarded that – 1 ITA No. 86 Mum 2017-M/s Chheda Housing Development Corporation (a.) the said compensation was received by the appellant firm for criminal breach of contract

SANJAY GUPTA,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

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

Bench: Sri Mahavir Singh, Jm & Ashwani Taneja, Am Mr. Sanjay Gupta The Asst. Commissioner Of Bunglaow No.31-101, Mhada Svp Income Tax-Central Circle-47 Room No.658, 6Th Floor, Nagar, H.Bunlow, Andheri (W), Vs. Mumbai-400053 Aayakar Bhavan, M.K. Marg, Mumbai-400020 Pan No.Aabpg8751F Appellant .. Respondent Assessee By .. Shri. Sanjiv M. Shah, Ar Revenue By .. Miss. Rampriya Raghavan, Dr Date Of Hearing .. 23-11-2016 Date Of Pronouncement .. 23-11-2016 O R D E R Per Mahavir Singh, Jm:

section 143(3) of the Income Tax Act, 1961 (hereinafter ‘the Act’). 2. The first issue in this appeal of assessee is against the order of CIT(A) confirming the action of the AO in disallowing electricity expense at 50 % amounting to Rs.1,12,090/- and business promotion expenses at 50% amounting to Rs.67,391/-. 3. At the outset

GEOMETRIC SOFTWARE SOLUTINS CO. LTD ( NOW GEMETRIC LTD),MUMBAI vs. ADDL CIT RG 10(2), MUMBAI

In the result, ground no

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm M/S Geometric Software The Acit Solutions Company Ltd. Ward 10(2), [ Now Merged With Hcl Room No.432, 4Th Floor, Technologies Limited ] Vs. Aayakar Bhavan, M.K. Marg, 806, Sidharth, 96 Nehru Mumbai-400 020 Place, New Delhi 19 (Respondent) (Appellant) Pan No. Aabcg 0066 A Co No. 157/Mum/2011 (Arising In Ita No.6219/Mum/2010 For A.Y. 2005–06) M/S Geometric Software Solutions Company Ltd. The Acit (Now Gemetric Ltd.) [ Now Ward 10(2), Room No.432, 4Th Floor, Merged With Hcl Vs. Technologies Limited] Aayakar Bhavan, M.K. Marg, Mumbai-400 020 806, Sidharth, 96 Nehru Place, New Delhi 19 (Respondent) (Cross Objector) Assessee By : Shri Porus F. Kaka & Shri Manish Kanth, Ars‟ Revenue By : Shri Sumit Kumar, Dr Date Of Hearing: 21.07.2022 Date Of Pronouncement : 29.07.2022

Section 10A of the Act. b. With respect to the taxability of the lease rent Under the head income from house property or business income, he followed his own decision for assessment year 2004 – 05 and confirmed the action of the learned assessing officer of charging it Under the head income from house property. c. On the issue of disallowance

ADDL CIT RG 10(2), MUMBAI vs. GEOMETRIC SOFTWAR SOLUTIONS CO. LTD, MUMBAI

In the result, ground no

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm M/S Geometric Software The Acit Solutions Company Ltd. Ward 10(2), [ Now Merged With Hcl Room No.432, 4Th Floor, Technologies Limited ] Vs. Aayakar Bhavan, M.K. Marg, 806, Sidharth, 96 Nehru Mumbai-400 020 Place, New Delhi 19 (Respondent) (Appellant) Pan No. Aabcg 0066 A Co No. 157/Mum/2011 (Arising In Ita No.6219/Mum/2010 For A.Y. 2005–06) M/S Geometric Software Solutions Company Ltd. The Acit (Now Gemetric Ltd.) [ Now Ward 10(2), Room No.432, 4Th Floor, Merged With Hcl Vs. Technologies Limited] Aayakar Bhavan, M.K. Marg, Mumbai-400 020 806, Sidharth, 96 Nehru Place, New Delhi 19 (Respondent) (Cross Objector) Assessee By : Shri Porus F. Kaka & Shri Manish Kanth, Ars‟ Revenue By : Shri Sumit Kumar, Dr Date Of Hearing: 21.07.2022 Date Of Pronouncement : 29.07.2022

Section 10A of the Act. b. With respect to the taxability of the lease rent Under the head income from house property or business income, he followed his own decision for assessment year 2004 – 05 and confirmed the action of the learned assessing officer of charging it Under the head income from house property. c. On the issue of disallowance

GRASIM INDUSTRIES LIMITED,MUMBAI vs. DCIT, CC-1(4), MUMBAI

In the result, appeal of the revenue and the assessee are partly allowed,\nand the additional ground of the assessee is dismissed

house\nproperty\". In the return of income, the assessee did not claim depreciation under\nsection 32 of the Act on these let out properties. However, through the notes to the\ncomputation of income, the assessee claimed depreciation on these let out\nproperties by stating that once the asset is added to the block of asset, it loses its\nidentity