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. 112. AO has also made disallowance under Section 14A read with Section Rule 8D on the plea that

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. 112. AO has also made disallowance under Section 14A read with Section Rule 8D on the plea that

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. 112. AO has also made disallowance under Section 14A read with Section Rule 8D on the plea that

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. 112. AO has also made disallowance under Section 14A read with Section Rule 8D on the plea that

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. 112. AO has also made disallowance under Section 14A read with Section Rule 8D on the plea that

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. 112. AO has also made disallowance under Section 14A read with Section Rule 8D on the plea that

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. 112. AO has also made disallowance under Section 14A read with Section Rule 8D on the plea that

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

section 22 of the IT Act states that "Rental Income" is taxable under the head "Income from House Property" if the following three conditions are satisfied a) The property should consist of any buildings or land appurtenant there to; b) The appellant should be the owner of the property; c) The property should not be used by the owner

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) ..

House Property for the captioned assessment year. During the re-opening proceeding, it was submitted that the assessee had sufficient interest free funds available with it and the same could have been said to utilized for the said purposes. Further, reliance was placed on the judgment of Hon'ble High Court, Bombay in the case of Commissioner Of Income

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 ()

house property. The relevant provision reads reads as under: “23(1) For the purposes of section 22, the annual value of any property “23(1) For the purposes of section 22, the annual value of any property “23(1) For the purposes of section 22, the annual value of any property shall be deemed to be shall be deemed

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 ()

house property. The relevant provision reads reads as under: “23(1) For the purposes of section 22, the annual value of any property “23(1) For the purposes of section 22, the annual value of any property “23(1) For the purposes of section 22, the annual value of any property shall be deemed to be shall be deemed

K. RAHEJA CORPORATE SERVICES P.LTD,MUMBAI vs. ACIT 14(2)(1), MUMBAI, MUMBAI

Bench: Shri S. Rifaur Rahman & Shri Ravish Soodk. Raheja Corporate Services Acit-14(2)(1), Room No. 432, 4Th Floor, Pvt. Ltd., Plot No. C-30, G- Block, Opp. Sidbi, Bkc, Aayakar Bhavan, M.K. Bandra, Mumbai-400 051 Road, Mumbai-400 020. Vs. Pan: Aabcn 9309B Appellant Respondent K. Raheja Corporate Pvt. Ltd., Dcit- Central Circle 4(2), Room No. 1918, 19Th Plot No. C-30, G-Block, Opp. Sidbi, Bkc, Bandra – (E), Floor, Air India Building, Mumbai-400 051 Nariman Point, Mumbai- Vs. 400 021. Pan: Aaacp0522B Appellant Respondent Dcit, Central Circle - M/S K. Raheja Corp. Pvt. (2)(1), Central Range -4 Ltd., Plot No. C-30, Block -G, Pr.Cit (C)-2 Bkc, Bandra (Eest), Room No. 1918, 19Th Mumbai-400 051 Vs. Floor, Air India Building, Pan: Aaacp0522B Nariman Point, Mumbai-400 021. Appellant Respondent Appellant By : Shri. Madhur Aggrawal (Ar) Revenue By : Shri. Shiddaramappa (Dr) Date Of Hearing : 12.10.2021 Date Of Pronouncement: 25.10.2021

section 14A of the Act must be restricted to dividend income earned of Rs 1,43,78,956. Ground 2: On the facts and circumstances of the case and in law, the Hon‟ble CIT(A) erred by confirming the addition of notional income of Rs. 2,09,73,057/as “Income from House Property” (net of standard deduction

DCIT CC 4(2), MUMBAI vs. K RAHEJA COPR PVT LTD, MUMBAI

Bench: Shri S. Rifaur Rahman & Shri Ravish Soodk. Raheja Corporate Services Acit-14(2)(1), Room No. 432, 4Th Floor, Pvt. Ltd., Plot No. C-30, G- Block, Opp. Sidbi, Bkc, Aayakar Bhavan, M.K. Bandra, Mumbai-400 051 Road, Mumbai-400 020. Vs. Pan: Aabcn 9309B Appellant Respondent K. Raheja Corporate Pvt. Ltd., Dcit- Central Circle 4(2), Room No. 1918, 19Th Plot No. C-30, G-Block, Opp. Sidbi, Bkc, Bandra – (E), Floor, Air India Building, Mumbai-400 051 Nariman Point, Mumbai- Vs. 400 021. Pan: Aaacp0522B Appellant Respondent Dcit, Central Circle - M/S K. Raheja Corp. Pvt. (2)(1), Central Range -4 Ltd., Plot No. C-30, Block -G, Pr.Cit (C)-2 Bkc, Bandra (Eest), Room No. 1918, 19Th Mumbai-400 051 Vs. Floor, Air India Building, Pan: Aaacp0522B Nariman Point, Mumbai-400 021. Appellant Respondent Appellant By : Shri. Madhur Aggrawal (Ar) Revenue By : Shri. Shiddaramappa (Dr) Date Of Hearing : 12.10.2021 Date Of Pronouncement: 25.10.2021

section 14A of the Act must be restricted to dividend income earned of Rs 1,43,78,956. Ground 2: On the facts and circumstances of the case and in law, the Hon‟ble CIT(A) erred by confirming the addition of notional income of Rs. 2,09,73,057/as “Income from House Property” (net of standard deduction

SUYASH HOLDING & ESTATE DEVELOPERS PRIVATE LIMITED,MUMBAI vs. INCOME TAX OFFICER 8(2)(4), MUMBAI

In the result, appeal of assessee is allowed in part in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm

8D in the said order. 3. During the financial year relevant to the Assessment year, the assessee has received the same fixed rent of Rs.25,000/- p.m. as rent without adopting the fair market rental value for the said flat; In view of the above, the assessment for the year under consideration was reopened to assess the escaped income

S.P CORPORATION,MUMBAI vs. ACIT RG 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

section 6 and 8 of the Rent Control Act. The Assessing Officer has not done any exercise to find out the rent as on the first date of October, 1987 or subsequently to fix the standard rent. As laid by the Hon’ble Jurisdictional High Court and various other courts when the property is covered under Rent Control

S.P CORPORATION,MUMBAI vs. ACIT RG 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

section 6 and 8 of the Rent Control Act. The Assessing Officer has not done any exercise to find out the rent as on the first date of October, 1987 or subsequently to fix the standard rent. As laid by the Hon’ble Jurisdictional High Court and various other courts when the property is covered under Rent Control

ACIT 11(1), MUMBAI vs. S.P. CORPORATION, MUMBAI

In the result, appeal of the assessee for the Assessment Years

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

section 6 and 8 of the Rent Control Act. The Assessing Officer has not done any exercise to find out the rent as on the first date of October, 1987 or subsequently to fix the standard rent. As laid by the Hon’ble Jurisdictional High Court and various other courts when the property is covered under Rent Control

S.P. CORPORATION,MUMBAI vs. ASST CIT RG 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

section 6 and 8 of the Rent Control Act. The Assessing Officer has not done any exercise to find out the rent as on the first date of October, 1987 or subsequently to fix the standard rent. As laid by the Hon’ble Jurisdictional High Court and various other courts when the property is covered under Rent Control