ASST CIT CC 8(4), MUMBAI vs. PHOENIX MILLS LTD, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

house property income, when the said issue has already been considered by AO while framing assessment u/s 153A read with section 143(3) and no tangible material was put on record by the AO to form a basis / foundation to his belief. 25. From the record we find that the assessee filed its return of income

THE PHOENIX MILLS LTD,MUMBAI vs. DCIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

house property income, when the said issue has already been considered by AO while framing assessment u/s 153A read with section 143(3) and no tangible material was put on record by the AO to form a basis / foundation to his belief. 25. From the record we find that the assessee filed its return of income

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

house property income, when the said issue has already been considered by AO while framing assessment u/s 153A read with section 143(3) and no tangible material was put on record by the AO to form a basis / foundation to his belief. 25. From the record we find that the assessee filed its return of income

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

house property income, when the said issue has already been considered by AO while framing assessment u/s 153A read with section 143(3) and no tangible material was put on record by the AO to form a basis / foundation to his belief. 25. From the record we find that the assessee filed its return of income

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

house property income, when the said issue has already been considered by AO while framing assessment u/s 153A read with section 143(3) and no tangible material was put on record by the AO to form a basis / foundation to his belief. 25. From the record we find that the assessee filed its return of income

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

house property income, when the said issue has already been considered by AO while framing assessment u/s 153A read with section 143(3) and no tangible material was put on record by the AO to form a basis / foundation to his belief. 25. From the record we find that the assessee filed its return of income

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

house property income, when the said issue has already been considered by AO while framing assessment u/s 153A read with section 143(3) and no tangible material was put on record by the AO to form a basis / foundation to his belief. 25. From the record we find that the assessee filed its return of income

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

house property and allow all statutory deductions under the said head instead of business income. 2. On the facts and in circumstances of the case and in law, the CIT(A) erred in deleting the disallowance u/s 14A without considering the circular No. 5 of 2014 dated 11.02.2014 and decision of Hon’ble Bombay High Court in the case

H & M HOUSING FINANCE AND LEASING PRIVATE LIMITED ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7(1)(2), MUMBAI

In the result, ground No. 1 and 2 of the assessee‟s appeal is allowed

Bench: Shri Vikram Singh Yadav & Shri Raj Kumar Chauhanassessment Year : 2017-18 H&M Housing Finance & Deputy Commissioner Of Leasing Private Limited, Income Tax, C/62, 9Th Floor, Vibgyor Towers, Vs. Circle–7(1)(2), Bandra Kurla Complex, Aayakar Bhavan, Bandra (East), M.K.Road, Mumbai-400051. Mumbai-400020. Pan : Aabch4398E (Appellant) (Respondent) Assessee By : Shri Nitesh Joshi & Shri Nishith Khatri Revenue By : Shri Hemanshu Joshi, Sr.Dr

section 9 and taxed accordingly”. This judgment, supported by earlier cases like United 7 Commercial Bank Ltd. vs. CIT (32 ITR 688) and others, and aligns with rulings from House of Lords in the case of Fry v. Salisbury House Estates Co. Ltd. (1930) AC 432 and Hon‟ble Calcutta High Court in Commercial Properties Limited

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

81,384/-. Aggrieved, assessee preferred an appeal before the Ld. CIT(A) who was pleased to allow the same by holding as under: - “8.2 The AO considered the submission but found the same not acceptable. In this regard the appellant has heavily relied on Para 19 of AS-7 issued by ICAI for "Constructions Contracts" stating that the General & Administration

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

81,384/-. Aggrieved, assessee preferred an appeal before the Ld. CIT(A) who was pleased to allow the same by holding as under: - “8.2 The AO considered the submission but found the same not acceptable. In this regard the appellant has heavily relied on Para 19 of AS-7 issued by ICAI for "Constructions Contracts" stating that the General & Administration

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

81,384/-. Aggrieved, assessee preferred an appeal before the Ld. CIT(A) who was pleased to allow the same by holding as under: - “8.2 The AO considered the submission but found the same not acceptable. In this regard the appellant has heavily relied on Para 19 of AS-7 issued by ICAI for "Constructions Contracts" stating that the General & Administration

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 ()

section 14A of the Act read with Rule 8D of the Income tax Rules, 14A of the Act read with Rule 8D of the Income tax Rules, 14A of the Act read with Rule 8D of the Income tax Rules, 1962; on account of expenses pertaining to exempt 1962; on account of expenses pertaining to exempt 1962; on account

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 ()

section 14A of the Act read with Rule 8D of the Income tax Rules, 14A of the Act read with Rule 8D of the Income tax Rules, 14A of the Act read with Rule 8D of the Income tax Rules, 1962; on account of expenses pertaining to exempt 1962; on account of expenses pertaining to exempt 1962; on account

DCIT CEN CIR 8(4), MUMBAI vs. PHOENIX MILLS LTD, MUMBAI

In the results, all the appeals of the revenue are dismissed

Bench: Shri Ramesh C Sharma & Shri Pawan Singhआयकर अपीऱ सं./I.T.A. No. 3991/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2011-12) आयकर अपीऱ सं./I.T.A. No. 3992/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) आयकर अपीऱ सं./I.T.A. No. 3993/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2013-14) आयकर अपीऱ सं./I.T.A. No. 3994/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2014-15) बिधम/ Dy. Commissioner Of M/S Phoenix Mills Ltd. Income Tax, 462, Senapati Bapat Vs. Central Circle-8(4), Marg, Lower Parel, 6Th Floor, Room No. 658, Mumbai-400013. Aayakar Bhavan, M.K. Road, Mumbai 400020 स्थायी ऱेखा सं./जीआइआर सं./ Pan/Gir No. : Aaacp 3325 J (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

81-85 para 46-49. 33.1. In this regard we observe that assessee had claimed a sum of Rs.5,66,82,051 in its profit and loss account towards Miscellaneous income. The Ld. AO applied the ratio of 62.0426% and disallowed total amount of Rs.2,35,56,645 as related to income from House Property. It is important to note

EMCO DYESTUFF PVT. LTD.,MUMBAI vs. DCIT - 12(2)(1), MUMBAI

The appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2014-15

House Property and directed to allow 30% as standard deduction from the rent received and simultaneously directed the AO to reduce the claim of depreciation by Rs.8,81,157/- under section

ASST CIT 14(1), MUMBAI vs. SANJAY B PAHARIYA, MUMBAI

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

section 54 and 54F to the assessee for investment in two separate house properties which were converted into one residential unit illegal after taking possession. 3. On the facts and in the circumstances of the case, the CIT(A)· has erred in accepting the additional evidence i.e. report of structural engineer (an employee of the assessee), submitted by the assessee

ACIT-3(1)(1), MUMBAI vs. GENTEX MERCHANTS PVT. LTD., MUMBAI

Appeal of the revenue is partly allowed

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

81, Maker Chambers-III, 223, Vs. Aayakar Bhawan, M.K. Road, Nariman Point, Mumbai-400021. Mumbai-400020. PAN : AABCG1491M Appellant) : Respondent) Appellant/Assessee by : Shri Anuj Kisnadwala, CA Revenue/Respondent by : Shri Mahesh Parwani, Sr. DR Date of Hearing : 05.06.2024 Date of Pronouncement : 11.06.2024 O R D E R Per Padmavathy S, AM: This appeal by the Revenue is against the order