SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

B Nair 906, 9th floor, Pratishtha Bhavan, Vs. Road, Juhu, Old CGO Annexe, M.K. Road, Mumbai-400049. Mumbai-400020. PAN NO. AMOPS 4918 D Appellant Respondent : Mr. Rakesh Joshi Assessee by : Mr. Virabhadra S. Mahajan, Sr. DR Revenue by : 12/06/2025 Date of Hearing : 30/07/2025 Date of pronouncement ORDER PER BENCH The captioned appeals by the assessee are directed against separate

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

B Nair 906, 9th floor, Pratishtha Bhavan, Vs. Road, Juhu, Old CGO Annexe, M.K. Road, Mumbai-400049. Mumbai-400020. PAN NO. AMOPS 4918 D Appellant Respondent : Mr. Rakesh Joshi Assessee by : Mr. Virabhadra S. Mahajan, Sr. DR Revenue by : 12/06/2025 Date of Hearing : 30/07/2025 Date of pronouncement ORDER PER BENCH The captioned appeals by the assessee are directed against separate

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

B Nair\nRoad, Juhu,\nMumbai-400049.\nPAN NO. AMOPS 4918 D\nAppellant\nVs.\nDCIT-Central Circle1 (2),\n906, 9th floor, Pratishtha Bhavan,\nOld CGO Annexe, M.K. Road,\nMumbai-400020.\nRespondent\nAssessee by\n: Mr. Rakesh Joshi\nRevenue by\n: Mr. Virabhadra S. Mahajan, Sr. DR\nDate of Hearing\n: 12/06/2025\nDate of pronouncement : 30/07/2025\nORDER\nPER BENCH\nThe captioned appeals

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

B Nair\nRoad, Juhu,\nMumbai-400049.\nPAN NO. AMOPS 4918 D\nAppellant\nVs.\nDCIT-Central Circle1 (2),\n906, 9th floor, Pratishtha Bhavan,\nOld CGO Annexe, M.K. Road,\nMumbai-400020.\nRespondent\nAssessee by\nMr. Rakesh Joshi\nRevenue by\nMr. Virabhadra S. Mahajan, Sr. DR\nDate of Hearing\n12/06/2025\nDate of pronouncement\n30/07/2025\nORDER\nPER BENCH\nThe captioned appeals by the assessee

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT 3(1)(1),MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD, MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

u/s 271(1)C is not leviable. There is no scope to levy penalty under the said section. Accordingly, in the given set of facts, the penalty levied u/s.271(1)(c) is deleted. Ground raised by the assessee is allowed.” 7.4 In view of the facts of the case and the decisions of the Hon’ble ITAT referred above, penalty

THE DCIT-1(3)(1) MUMBAI, MUMBAI vs. M/S FERN INFRASTRUCTURE PVT LTD, MUMBAI

In the result, appeal filed by the Revenue is dismissed

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

b. Attention is also invited that depreciation is not an actual expense but a charge on the asset. The regular wear and tear of a depreciable asset and erosion of its realisable value is recorded in the books as depreciation which is an allowable expense u/s 32 of the Act. c. Attention is invited that depreciation is timing cost, claimed

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

B Nair\nRoad, Juhu,\nMumbai-400049.\nPAN NO. AMOPS 4918 D\nAppellant\nVs.\nDCIT-Central Circle1 (2),\n906, 9th floor, Pratishtha Bhavan,\nOld CGO Annexe, M.K. Road,\nMumbai-400020.\nRespondent\nAssessee by\n: Mr. Rakesh Joshi\nRevenue by\n: Mr. Virabhadra S. Mahajan, Sr. DR\nDate of Hearing\nDate of pronouncement\n: 12/06/2025\n: 30/07/2025\nORDER\nPER BENCH\nThe captioned

DCIT 3(1), MUMBAI vs. ICICI BANK LTD, MUMBAI

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2003-04

120 iii) Fees Rs.13,01,16,944 iv) Future interest lows Rs.92,30,41,335 Rs.520,11,22,766 6. It is also not in dispute that the assessee again revised its claim made under section 10(23G) of the Act during the course of assessment proceedings detailed as under: i) Interest Income Rs.446,38,68,610 ii) Guarantee Commission

MADISON TEAMWORKS FILM PROMOTIONS AND ENTERTAINMENT PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX- 10(2)(2), MUMBAI, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Vikram Singh Yadav & Shri Rahul Chaudharyassessment Year : 2013-14 Madison Teamworks Film Deputy Commissioner Of Promotions & Entertainment Income Tax-10(2)(2), Private Limited, Vs. Aayakar Bhavan, 1St Floor, 349 Business Point, M.K. Road, Western Express Highway, Mumbai-400020. Andheri (East), Mumbai-400069. Pan : Aaecm1006B (Appellant) (Respondent) For Assessee : Mr. Siddesh Chaugule & Ms. Manmeet Kaur Saini For Revenue : Shri Annavaram Kosuri, Sr.Dr

271(1)(c) of the Act is consequential to the assessment order passed u/s. 143(3) of the Act. It has been further held by the Ld.CIT(A) that the assessee has preferred an appeal against the assessment order u/s. 143(3) of the Act on the quantum addition of Rs. 55 lakhs on account of deemed dividend u/s

DCIT, CC-2(2),, MUM vs. SHRI NARENDRA S SHAH, MUMBAI

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 68 section 68 of the Act and some unexplained expenditure under d some unexplained expenditure under section d some unexplained expenditure under 69C of the Act and also disallowed interest of Rs.5,73,193/ of the Act and also disallowed interest of Rs.5,73,193/- of the Act and also disallowed interest of Rs.5,73,193/ , paid on unsecured

DCIT, CC-2(2), , MUM vs. SHRI NARENDRA S SHAH, MUM

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 68 section 68 of the Act and some unexplained expenditure under d some unexplained expenditure under section d some unexplained expenditure under 69C of the Act and also disallowed interest of Rs.5,73,193/ of the Act and also disallowed interest of Rs.5,73,193/- of the Act and also disallowed interest of Rs.5,73,193/ , paid on unsecured

SHRI NARENDRA S SHAH,MUMBAI vs. DCIT, CC-2(2),, MUMBAI

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant ()

section 68 section 68 of the Act and some unexplained expenditure under d some unexplained expenditure under section d some unexplained expenditure under 69C of the Act and also disallowed interest of Rs.5,73,193/ of the Act and also disallowed interest of Rs.5,73,193/- of the Act and also disallowed interest of Rs.5,73,193/ , paid on unsecured