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

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

section 68 of the income tax act the main submission of the assessee are as under:- i. The loan received by the assessee from sunrise Asian Ltd of ₹ 40 lakhs on 30/9/2013 is a genuine loan and out of the accounted source of the lender company. ITA No. 2089, 709 to 713 & 718 Mum/2023

MOHAN GURNANI,NAVI MUMBAI vs. DCIT CENTRAL CIRLE - 5(2), MUMBAI

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

section 68 of the income tax act the main submission of the assessee are as under:- i. The loan received by the assessee from sunrise Asian Ltd of ₹ 40 lakhs on 30/9/2013 is a genuine loan and out of the accounted source of the lender company. ITA No. 2089, 709 to 713 & 718 Mum/2023

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

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

section 68 of the income tax act the main submission of the assessee are as under:- i. The loan received by the assessee from sunrise Asian Ltd of ₹ 40 lakhs on 30/9/2013 is a genuine loan and out of the accounted source of the lender company. ITA No. 2089, 709 to 713 & 718 Mum/2023

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

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

section 68 of the income tax act the main submission of the assessee are as under:- i. The loan received by the assessee from sunrise Asian Ltd of ₹ 40 lakhs on 30/9/2013 is a genuine loan and out of the accounted source of the lender company. ITA No. 2089, 709 to 713 & 718 Mum/2023

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

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

section 68 of the income tax act the main submission of the assessee are as under:- i. The loan received by the assessee from sunrise Asian Ltd of ₹ 40 lakhs on 30/9/2013 is a genuine loan and out of the accounted source of the lender company. ITA No. 2089, 709 to 713 & 718 Mum/2023

DCIT-8(1)(2), MUMBAI vs. SHRI. ASHOK SANTU BHAVANI, MUMBAI

In the result, the appeal of the appellant is treated as allowed

Bench: Shri M Balaganesh & Shri Pavan Kumar Gadaledcit – 8(1)(2) Vs. Shri Ashok Santu Room No. 625, 6Th Floor Bhavnani Aayakar Bhavan, 22, New Pushpamilan, Mk Marg, Mumbai – 67 Worli Hills, Worli, 400 020. Mumbai – 400018

801. Whereas, the Ld. AR referred to the plan at page No. 194 of the paper book which shows the 8th floor plan and page No. 185 to 187 clearly display the entrance and the lobby. The Ld. AR emphasizes that it is only one residential property and relied on the letter issued by the housing society at page

MORAJ FINANZ CORPORATION,NAVI MUMBAI vs. DCLT CENTRAL CIRLE - 5(2), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per above direction

Bench: Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

house property. a. The letting of the premises is subjected to the provisions of the Maharashtra Rent Act, 1999, under which the letting has to essentially be at the standard rents specified by municipal authorities. Under the circumstances only standard rent should have been adopted as ALV in computing IFHP unless the letting was established at ALV. Under the circumstances

MORA] FINANZ CORPORATION,NAVI MUMBAI vs. DCIT CENTRAL CIRLE - 5(2), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per above direction

Bench: Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

house property. a. The letting of the premises is subjected to the provisions of the Maharashtra Rent Act, 1999, under which the letting has to essentially be at the standard rents specified by municipal authorities. Under the circumstances only standard rent should have been adopted as ALV in computing IFHP unless the letting was established at ALV. Under the circumstances

MORAJ FINANZ CORPORATION,NAVI MUMBAI vs. DCIT, CENTRAL CIRCLE - 5(2), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per above direction

Bench: Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

house property. a. The letting of the premises is subjected to the provisions of the Maharashtra Rent Act, 1999, under which the letting has to essentially be at the standard rents specified by municipal authorities. Under the circumstances only standard rent should have been adopted as ALV in computing IFHP unless the letting was established at ALV. Under the circumstances

DCIT 4 (3)(1), MUMBAI vs. MOHIT DEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

house property u/s 23(1). 10. In view of the above discussion, the AO is directed to re-compute the addition made towards the Income from deemed let out property by considering the Worli property as the deemed let out property instead of the Juhu property considered in the assessment order. This ground of appeal is therefore partly allowed.” (emphasis

ACIT CIR-6(3)(2), MUMBAI vs. SHRI MOHIT DEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

house property u/s 23(1). 10. In view of the above discussion, the AO is directed to re-compute the addition made towards the Income from deemed let out property by considering the Worli property as the deemed let out property instead of the Juhu property considered in the assessment order. This ground of appeal is therefore partly allowed.” (emphasis

DCIT 4 (3)(1), MUMBAI vs. SHRI MOHIT KEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alcpk2213Q (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

house property u/s 23(1). 10. In view of the above discussion, the AO is directed to re-compute the addition made towards the Income from deemed let out property by considering the Worli property as the deemed let out property instead of the Juhu property considered in the assessment order. This ground of appeal is therefore partly allowed.” (emphasis

RAMESH BUILDERS (INDIA),MUMBAI vs. ITO 12(1)(2), MUMBAI

In the result, the appeal filed by the assessee-Ramesh Builders(India) in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1797/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08) Ramesh Builders (India), Income Tax बनाम/ 9, Dhiraj Chambers, Officer,12(1)(2),Aayakar V. 9, Hazarimal Somani Marg, Bhavan,M.K. Road, Fort,Mumbai – 400001. Mumbai. "थायी लेखा सं./Pan : Aaafr4655E .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

801 , the Supreme Court held, while affirming the principle laid down in Mohanbhai Pamabhai that when a partner retires from a partnership and the amount of his share in the net partnership assets after deduction of liabilities and prior charges is determined on taking accounts, there is no element of transfer of interest in the partnership assets by the retired

RAMESH BUILDERS,MUMBAI vs. ITO 12(1)(1), MUMBAI

In the result, the appeal filed by the assessee-Ramesh Builders(India) in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1797/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08) Ramesh Builders (India), Income Tax बनाम/ 9, Dhiraj Chambers, Officer,12(1)(2),Aayakar V. 9, Hazarimal Somani Marg, Bhavan,M.K. Road, Fort,Mumbai – 400001. Mumbai. "थायी लेखा सं./Pan : Aaafr4655E .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

801 , the Supreme Court held, while affirming the principle laid down in Mohanbhai Pamabhai that when a partner retires from a partnership and the amount of his share in the net partnership assets after deduction of liabilities and prior charges is determined on taking accounts, there is no element of transfer of interest in the partnership assets by the retired

VASHDEV T. MATTA,MUMBAI vs. ACIT CIR 19(1), MUMBAI

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

Bench: Shri N.K.Billaiya, A.M & Shri Pawan Singh, J.M Assessment Year: 2009-10 Mr. Vashdev T. Matta, Acit, Circle-19(1), Plot No. 721, 1St Floor, Piramal Chamber, Sanidhi, 12Th Road, Khar (W), Mumbia-400012 Vs. Mumbai-400052. Pan: Aevpm7498F (Appellant) (Respondent)

property and received consideration of Rs. 3,99,00,000/- and further the assessee was given the two residential flat vide flat no. 101 admeasuring 819 Sq. Ft. on the 1st floor and flat no. 801 admeasuring 1460 sq. ft. on 8th floor with 2 stilt parking and 2 open parking in lieu of granting development right to the developer

SUNDIAL INVESTMENTS P. LTD,MUMBAI vs. ASST CIT CIR 3(3), MUMBAI

The appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.5674/Mum/2012 & M/S Sundial Investments Pvt. बनधम/ The Asstt. Commissioner Of Ltd, Income Tax-Circle 3(3), Vs. 127 Jolly Maker Chambers, Mumbai. Nariman Points, Mumbai-400021 स्थधयी ऱेखध सं./ Pan : Aaacs9845C अपीऱार्थी ओर से / Assessee By Shri Anuj Kishnadwalla प्रत्यर्थी की ओर से/Revenue By Shri Love Kumar सुनवाई की तारीख / Date Of Hearing : 20.6.2016 घोषणा की तारीख /Date Of Pronouncement :30.06.2016 आदेश / O R D E R Per Rajesh Kumar, A. M: These Appeals Are Filed By The Assessee & Directed Against The Two Separate Orders Of Ld.Cit(A) Dated 15.5.2012 & 21.10.2013 & They Pertain To The Assessment Years 2009-10 & 2010-11. Since, The Issues Involved In These Appeals Are Identical / Inter-Connected, Therefore, For The Sake Of Convenience, They Are Clubbed Together, Heard Together & Disposed Of By This Consolidated Order. Appeal Wise Adjudication Is Given In The Succeeding Paragraphs.

house property. Accordingly, ground no.1 is allowed. 7 5674/Mum/2012 7562/Mum/2013 8. Grounds No.2,3,4 and 5 relates to confirmation of disallowance made u/s 14A r.w.rule 8D of the Rules. 9. During the course of assessment proceedings, the AO found that the assessee has claimed dividend income of Rs.16,01,752/- which was exempt under section

SUNDIAL INVESTMENTS P.LTD,MUMBAI vs. DCIT CIR 3(3), MUMBAI

The appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.5674/Mum/2012 & M/S Sundial Investments Pvt. बनधम/ The Asstt. Commissioner Of Ltd, Income Tax-Circle 3(3), Vs. 127 Jolly Maker Chambers, Mumbai. Nariman Points, Mumbai-400021 स्थधयी ऱेखध सं./ Pan : Aaacs9845C अपीऱार्थी ओर से / Assessee By Shri Anuj Kishnadwalla प्रत्यर्थी की ओर से/Revenue By Shri Love Kumar सुनवाई की तारीख / Date Of Hearing : 20.6.2016 घोषणा की तारीख /Date Of Pronouncement :30.06.2016 आदेश / O R D E R Per Rajesh Kumar, A. M: These Appeals Are Filed By The Assessee & Directed Against The Two Separate Orders Of Ld.Cit(A) Dated 15.5.2012 & 21.10.2013 & They Pertain To The Assessment Years 2009-10 & 2010-11. Since, The Issues Involved In These Appeals Are Identical / Inter-Connected, Therefore, For The Sake Of Convenience, They Are Clubbed Together, Heard Together & Disposed Of By This Consolidated Order. Appeal Wise Adjudication Is Given In The Succeeding Paragraphs.

house property. Accordingly, ground no.1 is allowed. 7 5674/Mum/2012 7562/Mum/2013 8. Grounds No.2,3,4 and 5 relates to confirmation of disallowance made u/s 14A r.w.rule 8D of the Rules. 9. During the course of assessment proceedings, the AO found that the assessee has claimed dividend income of Rs.16,01,752/- which was exempt under section

ANANT R GAWANDE,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, MUMBAI

In the result, appeal of the assessee is allowed and AO is directed to give consequential relief

Bench: Shri Vikas Awasthy () & Shri Gagan Goyal ()

801, Mahalaxmi Chambers Circle-20(1), Mumbai 22, Bhulabhai Desai Road Mumbai-400 026 PAN: AABPG3008P (Appellant) (Respondent) Assessee represented by : Shri Anil Sathe Department represented by : Shri Anoop Hiswase, DR Date of hearing : 10/06/2022 Date of pronouncement : 14/06/2022 O R D E R Per: Gagan Goyal (AM): This appeal has been filed by the assessee against the order dated