NAVNIDHI STEEL AND ENGG CO. P.LTD,MUMBAI vs. DCIT 5(2)(1), MUMBAI

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh, Assessment Year: 2007-08

10.” 2.6. As per section 68 of the Act, onus is upon the assessee to discharge the burden so cast upon. First burden is upon the assessee to satisfactorily explain the credit entry 40 Navnidhi Steel & Engg. Co. Pvt. Ltd. contained in his books of accounts. The burden has to be discharged with positive material (Oceanic Products Exporting Company

INDIA MEDTRONIC PRIVATE LIMITED,MUMBAI vs. DCIT , 10(1)(1), MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri M. Balaganesh & Shri Ravish Soodindia Medtronics Pvt. Ltd. Deputy Commissioner 1241, Solitaire Corporate Park, Of Income-Tax-10(1)(1), Bldg. No.12, 4Th Floor, Andheri Room No. 209, Vs. Ghatkopar Link Road, Aayakar Bhavan,M.K. Road Andheri (E), Mumbai, Mumbai – 400020 Maharashtra- 400093 Pan – Aaaci4227Q (Appellant) (Respondent) Appellant By: S/Shri Rajan R. Vora & Nikhil Tiwari, A.Rs Respondent By: Shri Anand Mohan, D.R Date Of Hearing: 11.07.2019 Date Of Pronouncement: 13.09.2019

10(1)(1) meeting of minds between two or more persons leading to the shared common objective or purpose of acquisition of substantial acquisition of shares etc. of the target company. It is another matter that the common objective or purpose may be in pursuance of an agreement' or an understanding, formal or informal; 'the acquisition of shares

OBEROI FOUNDATION,MUMBAI vs. CIT (E), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleoberoi Foundation V. Cit (Exemptions) Commerz, 3Rd Floor 6Th Floor, Piramal Chambers International Business Park Lalbaug, Mumbai – 400 012 Oberoi Garden City, Off. W.E. Highway Goregaon (E), Mumbai - 400063 Pan: Aaato1684L (Appellant) (Respondent) Assessee Represented By : Shri Vijay Mehta Department Represented By : Shri K.C. Salvamani

1) starts with "subject to the provisions of sections 60 to 63……..". It means that sections 60 to 63 would have overriding effect if there is a conflict between sections 11 to 13 and sections 60 to 63. However, the application under section II is not made subject to section 68 to section

PRITI NILESH JAIN DAGA ,MUMBAI vs. INCOME TAX OFFICER 19(2)(4), MUMBAI

In the result the appeal filed by the assessee stands allowed and appeal filed by the revenue stands dismissed

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

1 paid up capital which means Rs. 36-91 of Rs. 10 paid up capital. 32. We would like to place reliance on the judgment of the Hon'ble Apex Court delivered in the case of Principal Commissioner of Income-tax V/s. Kuntala Mohapatra [2024] 160 taxmann.com 608 (SC) wherein the Hon'ble Court dismissed SLP filed by the department

INCOME TAX OFFICER, MUMBAI vs. PRITI NILESH JAIN DAGA, MUMBAI

In the result the appeal filed by the assessee stands allowed and appeal filed by the revenue stands dismissed

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

1 paid up capital which means Rs. 36-91 of Rs. 10 paid up capital. 32. We would like to place reliance on the judgment of the Hon'ble Apex Court delivered in the case of Principal Commissioner of Income-tax V/s. Kuntala Mohapatra [2024] 160 taxmann.com 608 (SC) wherein the Hon'ble Court dismissed SLP filed by the department

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

10% of rural advances of ₹122.30 crores which were not rural branches ICICI Bank Ltd; A.Y. 2015-16 vi. Excess deduction allowed under Section 36(1)(viii) of the Act of ₹138,52,06,494/- which should have been restricted to ₹961,47,93,509/- being 20% of allowable deduction. vii. Excess allowances of long-term capital loss

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed, as indicated above

Bench: Sri Mahavir Singh, Vp & Sri G Manjunatha, Am आयकर अपील सुं./ Ita No. 3644/Mum/2016 (ननर्ाारण वर्ा / Assessment Year 2008-09) State Bank Of India The Dy. Commissioner Of 3Rd Floor, Corporate Centre Income Tax, Circle -2(2)(1) बनाम/ Madam Cama Road Mumbai Vs. Nariman Point Mumbai-400021 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacs8577K

10% of the aggregate average advances made by the rural branches of the bank. Accordingly, the assessee is eligible to claim deduction of an amount lower of the provision made for bad and doubtful debts or the amount calculated as per the prescribed methodology. As per the proviso to section 36(1)(vii) of the Act, deduction under section

DUCK CREEK TECHNOLOGIES INDIA LLP,MUMBAI vs. ACIT- CIRCLE 26 (1), MUMBAI

In the result, the appeal is allowed

10 Amount allowable under section 43B of the Act 2. The Learned CIT(A) erred in upholding the adjustments made by Centralized Processing Center, Bengaluru („the CPC‟) vide intimation issued u/s 143(1) of the Act under section 43B of the Act amounting to INR 68

ASST CIT 19(3), MUMBAI vs. PAHILAJRAI JAIKISHIN, MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

1,38,68,778 Average value of Investment related to Tax free income Opening Investment 5,22,02,950.00 Closing Investment 4,74,88,371.17 4,98,45,660 Average Total Assets in Balance Sheet Opening Total Assets 50,37,32,643 Closing Total Assets 58,77,80,214 54,57,56,428 Interest Expenses 12,66,679 C Deemed

PAHILAJRAI JAIKISHAN,MUMBAI vs. DCIT 19(3), MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

1,38,68,778 Average value of Investment related to Tax free income Opening Investment 5,22,02,950.00 Closing Investment 4,74,88,371.17 4,98,45,660 Average Total Assets in Balance Sheet Opening Total Assets 50,37,32,643 Closing Total Assets 58,77,80,214 54,57,56,428 Interest Expenses 12,66,679 C Deemed

ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

10% of the aggregate average advances made by the rural branches of such bank. As ITA No.1451, 1452, 1547 & 1548/Mum/2023 (A.Ys. 2016-17 & 2018-19) 25 regards the deduction for bad debts, it is also relevant to note the provisions of section 36(2)(v) of the Act, which reads as follows: - “(2) In making any deduction

BANK OF INDIA,MUMBAI vs. ACIT-2(1)(2), MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

10% of the aggregate average advances made by the rural branches of such bank. As ITA No.1451, 1452, 1547 & 1548/Mum/2023 (A.Ys. 2016-17 & 2018-19) 25 regards the deduction for bad debts, it is also relevant to note the provisions of section 36(2)(v) of the Act, which reads as follows: - “(2) In making any deduction

M/S JR FIBER GLASS INDUSTRIES PVT LTD,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE, MUMBAI

The appeal is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.2848/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2009-10) M/S. Jr Fiber Glass Industries Pvt. Ltd.

68 of the Act on account of share application and share premium. The AO in the assessment order noted that the assessee received share application money of Rs.2150,000/- and Rs.1,93,50,000/- as share premium making a total investment of Rs.2,15,00,000/-. Sr. No. Name of Allottees No. of Shares Allotted 1 Mona Digital Equipment

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

In the result, Revenue’s appeal and assessee’s appeal are partly allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

1% of the administrative expenditure amounting to ` 2,23,49,793. Thus, total expenditure of ` 2,11,68,34,691, was deducted from exempt dividend income of ` 223,49,79,266 and on the balance amount of ` 11,81,44,575, the Assessing Officer allowed exemption under section 10

INNO vs. OURCE SERVICES PRIVATE LIMITED,MUMBAIVS.DCIT, 14(1)(1), MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2021-22 Innovsource Services Pvt. Ltd., Dcit, 14(1)(1), 501, Jolly Board Tower 1, I-Think Aayakar Bhavan, Maharshi Karve Vs. Techno Campus Kanjurmarg-East, Road, New Marine Lines, Mumbai-400042. Churchgate, Mumbai-400020. Pan No. Aaeci 0979 D Appellant Respondent

1 is against CPC restricting the claim under Section 80JJAA of the Act amounting to IN Section 80JJAA of the Act amounting to INR 30,10,31,823 to R 30,10,31,823 to the of Rs 6,22,44,207/ the of Rs 6,22,44,207/- and not restricting the claim under and not restricting

ILJIN ELECTRIC CO. LTD,MUMBAI vs. DCIT (IT) CIR 2(2)(1), MUMBAI

In the result, appeal for A

Bench: Shri Jason P. Boaz, Accoutant Member & Shri Saktijit Dey

68,12,549 USD one million two hundred fifty nine thousand four hundred 5. Total payable forty five only And Rupees five crore sixty eight lakh twelve thousand five hundred forty nine only 21. Schedule–1(A) specified the goods / equipment to be supplied from abroad; Schedule–1(B) specified the goods / equipments to be supplied from employer‟s country

INCOME TAX OFFICER (INTERNATIONAL TAXATION) 3(2)(1), KAUTILYA BHAWAN MUMBAI vs. SHAPOORJI PALLONJI MISTRY, MUMBAI

Bench: Shri Amit Shukla & Shri Girish Agrawal

68 of the Act in the order under section 147 of the Act without appreciating the facts of the case. CO. No. 153/MUM/2025 1. erred in filing appeals without complying with the regulations and with defect and filed multiple appeals with the same grounds as raised for the present appeal, which is wholly erroneous, arbitrary and contrary

INCOME TAX OFFICER (IT)-3(2)(1), KAUTILYA BHAWAN vs. SHAPOORJI PALLONJI MISTRY, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawal

68 of the Act in the order under section 147 of the Act without appreciating the facts of the case. CO. No. 153/MUM/2025 1. erred in filing appeals without complying with the regulations and with defect and filed multiple appeals with the same grounds as raised for the present appeal, which is wholly erroneous, arbitrary and contrary