ICICI SECURITIES LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, MUMBAI -4, MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

House, Mumbai-4 Prabhadevi, S.O. Mumbai-400 025 PAN/GIR No.AAAC10996E (Appellant) .. (Respondent) Assessee by Shri Riken Shah Revenue by Ms. Kavita Kaushik (Sr.DR) Date of Hearing 21/11/2025 Date of Pronouncement 06/01/2026 आदेश / O R D E R PER AMIT SHUKLA (J.M): The present appeal has been preferred by the assessee against the order dated 28.03.2025 passed by the learned Principal

DY. COMMISSIONER O INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST(SHIRDI), MUMBAI

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

80G of the Act, which is only issued to charitable trusts, fortifies their position. We are therefore required to ascertain as to whether the anonymous donations received by the assessee Trust is liable to tax u/s 115BBC(1) or is it excluded from the purview of tax by virtue of Section 115BBC(2) of the Act. For doing

DY. COMMISSIONER OF INCOME TAX (EXEMPTION) 2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST (SHIRDI), MUMBAI

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

80G of the Act, which is only issued to charitable trusts, fortifies their position. We are therefore required to ascertain as to whether the anonymous donations received by the assessee Trust is liable to tax u/s 115BBC(1) or is it excluded from the purview of tax by virtue of Section 115BBC(2) of the Act. For doing

SHREE SAI BABA SANSTHAN TRUST (SHIRDI),MUMBAI vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION) 2(1), MUMBAI

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

80G of the Act, which is only issued to charitable trusts, fortifies their position. We are therefore required to ascertain as to whether the anonymous donations received by the assessee Trust is liable to tax u/s 115BBC(1) or is it excluded from the purview of tax by virtue of Section 115BBC(2) of the Act. For doing

DY. COMMISSIONER O INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST(SHIRDI), MUMBAI

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

80G of the Act, which is only issued to charitable trusts, fortifies their position. We are therefore required to ascertain as to whether the anonymous donations received by the assessee Trust is liable to tax u/s 115BBC(1) or is it excluded from the purview of tax by virtue of Section 115BBC(2) of the Act. For doing

THE RUBY MILLS LIMITED,MUMBAI vs. PCIT (CENTRAL) - 8, MUMBAI

In the result, appeals of the revenue are dismissed

Bench: Shri Pawan Singh & Shri Prabhash Shankar(Physical Hearing) The Ruby Mills Limited Pr. Commissioner Of Income Tax 11Th Floor, Ruby House A, Vs (Central)-5, Aayakar Bhawan, J.K. Sawant Marg, Dadar West, Mumbai-400020. Mumbai – 400028. [Pan No. Aaact0220G] Appellant / Assessee Respondent / Revenue

house property, under section 68 and addition under head income from business and profession. The assessment was revised, ld. Pr. CIT by exercising jurisdiction under section 263 on 10.03.2025. Before passing the order under section 263, the ld. Pr. CIT issued show cause notice dated 28.02.2025. In the show cause notice, the ld. Pr. CIT noted that on perusal

FIRMENICH AROMATICS PRODUCTION (INDIA) PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(3)(1), MUMBAI

In the result, both the appeals of the assessee are partly allowed

House,\nABR Sapphire, Plot No 79\nVs.\nStreet 13, MIDC, Andheri\nEast, Chakala MIDC, S.O.,\nMumbai – 400093\n(PAN : AABCF1120G)\n(Appellant)\n(Respondent)\nPresent for:\nAssessee : Shri Madhur Agrawal,\nShri Pratik Poddar and Shri Shreyas Sardesi\nRevenue : Ms. Neena Jeph, CIT DR\nDate of Hearing : 03.07.2025\nDate of Pronouncement : 31.07.2025\n2\nITA No. 3987 & 6100/Mum/2024\nFirmenich Aromatics Production (India

FIRMENICH AROMATICS PRODUCTION (INDIA) PRIVATE LIMITED,MUMBAI vs. ASSESSING OFFICER, NEW DELHI

In the result, both the appeals of the assessee are partly allowed

House,\nABR Sapphire, Plot No 79\nStreet 13, MIDC, Andheri\nEast, Chakala MIDC, S.O.,\nMumbai – 400093\n(PAN : AABCF1120G)\n(Appellant)\n(Respondent)\nPresent for:\nAssessee\nRevenue\nDate of Hearing\n: Shri Madhur Agrawal,\nShri Pratik Poddar and Shri Shreyas Sardesi\n: Ms. Neena Jeph, CIT DR\n: 03.07.2025\nDate of Pronouncement\n: 31.07.2025\n\n2\nITA No. 3987 & 6100/Mum/2024

ACIT-3(2)(1), MUMBAI, MUMBAI vs. M/S LIFE INSURANCE CORPORATION OF INDIA, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blelife Insurance Corporation Of India V. Dcit – 3(2)(1) Central Office, F&A Department Room No. 608 3Rd Floor, West Wing Aayakar Bhavan, M.K. Road “Yogakshema” Jeevan Bima Marg Mumbai - 400020 Mumbai - 400021 Pan: Aaacl0582H Appellant Respondent Acit – 3(2)(1) V. M/S. Life Insurance Corporation Of India Central Office Room No. 674, 6Th Floor “Yogakshema” Jeevan Bima Marg Aayakar Bhavan, M.K. Road Nariman Point, Mumbai - 400021 Mumbai - 400020 Pan: Aaacl0582H Appellant Respondent

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that the assessing being in insurance

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blelife Insurance Corporation Of India V. Dcit – 3(2)(1) Central Office, F&A Department Room No. 608 3Rd Floor, West Wing Aayakar Bhavan, M.K. Road “Yogakshema” Jeevan Bima Marg Mumbai - 400020 Mumbai - 400021 Pan: Aaacl0582H Appellant Respondent Acit – 3(2)(1) V. M/S. Life Insurance Corporation Of India Central Office Room No. 674, 6Th Floor “Yogakshema” Jeevan Bima Marg Aayakar Bhavan, M.K. Road Nariman Point, Mumbai - 400021 Mumbai - 400020 Pan: Aaacl0582H Appellant Respondent

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that the assessing being in insurance

ASST. COMM OF INCOME TAX 3(2) (1) , MUMBAI vs. LIFE INSURANCE CORPORATION OF INDIA, MUMBAI

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2010-11 M/S. Life Insurance Dcit 3(2)(1), Corporation Of India, Room No.608, Central Office, Aayakar Bhavan, F&A Department, Maharshi Karve Road, Vs. 3Rd Floor, West Wing, New Marine Lines, “Yogakshema”, Mumbai - 400020 Jeevan Bima Marg, Mumbai – 400 021 Pan: Aaacl0582H (Appellant) (Respondent) Assessment Year: 2010-11 Acit 3(2)(1), M/S. Life Insurance Room No.674, 6Th Floor, Corporation Of India, Aayakar Bhavan, Central Office, M.K. Road, Vs. Yogakshema, Mumbai - 400020 Jeevan Bima Marg, Nariman Point, Mumbai – 400 005 Pan: Aaacl0582H (Appellant) (Respondent)

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that the assessing being in insurance

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2010-11 M/S. Life Insurance Dcit 3(2)(1), Corporation Of India, Room No.608, Central Office, Aayakar Bhavan, F&A Department, Maharshi Karve Road, Vs. 3Rd Floor, West Wing, New Marine Lines, “Yogakshema”, Mumbai - 400020 Jeevan Bima Marg, Mumbai – 400 021 Pan: Aaacl0582H (Appellant) (Respondent) Assessment Year: 2010-11 Acit 3(2)(1), M/S. Life Insurance Room No.674, 6Th Floor, Corporation Of India, Aayakar Bhavan, Central Office, M.K. Road, Vs. Yogakshema, Mumbai - 400020 Jeevan Bima Marg, Nariman Point, Mumbai – 400 005 Pan: Aaacl0582H (Appellant) (Respondent)

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that the assessing being in insurance

M/S LIFE INSURANCE CORPORATION OF INDIA,MUMBAI-400021 vs. DY COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

Appeal is disposed off as being partly allowed

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) ITA. Nos. 927,957, 983,1021, 1074 & 1339/Mum/2022 Assessment Years: 2012-2013, 2018-19 & 2019-20 Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that the assessing being in insurance

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that the assessing being in insurance

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

House Property; (iii) Capital Gains; (iv) Income from other sources. (v) Profits & Gains of business (Section 28 to 43B) Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that the assessing being in insurance

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

House Property” like in the earlier and subsequent years. This fact needs proper verification and examination by the AO which has not been done in the proper prospective. Accordingly, we are of the opinion that, this matter should be restored back only for the limited purpose of examining the nature of advertisement expenses and business promotion expenses debited under

RAYMOND LTD,MUMBAI vs. DCIT (OSD) RG 2(3), MUMBAI

Accordingly, the same are dismissed as not pressed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleraymond Limited V. The Addl. Cit– 2(3) New Hind House Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent C.O. No. 287/Mum/2017 [Arising Out Of Ita No. 2218/Mum/2011 (A.Y. 2007-08)] The Addl. Cit– 2(3) V. Raymond Limited Aayakar Bhavan, M.K. Road New Hind House Mumbai - 400020 Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent M/S. Raymond Limited V. The Dcit – Osd- 2(3) New Hind House, Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai – 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent

section 80G of the Act". A table summarizing the basis for determining the eligibility of deduction u/s 80G, is reproduced for your Honors ready reference, as under: Claimed in ROI As per AO Particulars by assessee order(Para 6.2) Amount (inRs.) Amount (In Rs.) Business Loss (15,802,791) (15,802,791) Income from House Property

RAYMOND LTD,MUMBAI vs. ADDL CIT RG 2(3), MUMBAI

Accordingly, the same are dismissed as not pressed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleraymond Limited V. The Addl. Cit– 2(3) New Hind House Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent C.O. No. 287/Mum/2017 [Arising Out Of Ita No. 2218/Mum/2011 (A.Y. 2007-08)] The Addl. Cit– 2(3) V. Raymond Limited Aayakar Bhavan, M.K. Road New Hind House Mumbai - 400020 Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent M/S. Raymond Limited V. The Dcit – Osd- 2(3) New Hind House, Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai – 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent

section 80G of the Act". A table summarizing the basis for determining the eligibility of deduction u/s 80G, is reproduced for your Honors ready reference, as under: Claimed in ROI As per AO Particulars by assessee order(Para 6.2) Amount (inRs.) Amount (In Rs.) Business Loss (15,802,791) (15,802,791) Income from House Property