M/S. HOUSING DEVELOP,MENT FINANCE CORPN. LTD,MUMBAI vs. THE ADDL CIT RG-1(1), MUMBAI

Bench: Shri Girish Agrawal & Shri Sunil Kumar Singh

houses in India for residential purposes. In view thereof, the ld AR prayed that deduction under section 36(1)(viii) of the Act may be granted in re- spect of all the aforesaid three categories of receipts. In this regard reliance is placed on the decision of the Apex Court in the case of Standard Refinery & Dis- tillery

ASST CIT (LTU) 2, MUMBAI vs. RELIANCE INDUSTRIES LTD, MUMBAI

Bench: S/Shri B.R.Baskaran (Am) & Amarjit Singh (Jm)

property transferred or services provided in a comparable uncontrolled transaction, or a number of such transactions". This rigidity about the price being for an actual transaction has, however, been considerably relaxed when we take into account the rule 10AB 34 M/s. Reliance Industries limited which allows hypothetical price of a transaction being taken into account as well. The scheme

DY CIT. CIRCLE-1, THANE vs. M/S TRAVECOM GLOBAL P. LTD., BHAYANDER

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle 1 V. M/S. Travecom Global Pvt. Ltd., Room No. 22, B-Wing B/607, Krishnakunj 6Th Floor, Ashar I.T. Park Salasar Brij Bhoomi Wagle Industrial Estate Bhayander (W)-401101 Thane (W)-400604 Pan: Aaect8729Q (Appellant) (Respondent) Assessee By : Ms. Aarti Vissanji Department By : Shri B.K. Bagchi

houses), detailed explanation and factors considered to arrive at the discounting factor 15 percent. General Rejection of DCF 2. The Assessing officer has erred in rejecting the DCF method Method adopted by assessee as its beyond the jurisdiction of Assessing Officer as mentioned in Paragraph 5 of Page 7 of Assessment order. Facts of the case: 1. The assessee filed