KHORAKIWALA HOLDINGS AND INVESTMENTS PVT. LTD.,MUMBAI vs. ASST CIT 14(2(1), MUMBAI

Appeal is dismissed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2013-14

22)(e) of the Act do not apply on receipt of preference share application money by Appellant from BTPL; B. Addition of preference share application money received amounting to Rs.90.00,00,OOP/- as unexplained cash credit under section 68 of the Act M/s. Khorakiwala Holdings and Investments Pvt. Ltd. 7. erred in not adjudicating the ground on taxability

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, ()

section 68 Whether since assessee had submitted details of purchase of shares, payment for purchase of shares through banking channel, and had produced order of SEBI where assessee along with others had been exonerated in any manipulation, it clearly proved genuineness of transaction Held, yes Whether further since Assessing Officer had not made any inquiry about genuineness of these

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, ()

section 68 Whether since assessee had submitted details of purchase of shares, payment for purchase of shares through banking channel, and had produced order of SEBI where assessee along with others had been exonerated in any manipulation, it clearly proved genuineness of transaction Held, yes Whether further since Assessing Officer had not made any inquiry about genuineness of these

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

In the result, the appeal of the assessee is allowed

10]\".\nIt was pleaded that the aforesaid provisions cannot be made\napplicable for the year under appeal. Accordingly, it was argued that\nthe issuance of shares of premium cannot be brought to tax under\nany section of the Income Tax Act up to assessment year 2012-13.\nWe find that the reliance placed

ADITYA BIRLA PRIVATE EQUITY TRUST ,MUMBAI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI (INCOME TAX OFFICER 20(1)(1), MUMBAI), MUMBAI

In the result, appeal filed by the assessee is allowed

68,97,076\n8,23,05,575\n37,84,72,668\n47,76,75,319\nExempt u/s\n10(35)\n10(34)\n10(23FB)\n4. The case of the assessee was selected under complete scrutiny\nthrough CASS and assessment was completed by the Assessing Officer\nunder section 143(3) on 30.12.2018 after due enquiry and accepting\nthe returned income

.DCIT., CIR.-4(2),MUMBAI vs. M.M. POONJIAJI SPICES LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

22,598,203/–. Same was added to the total income of the assessee. The assessee submitted before the learned assessing officer that this issue is covered by the decision of the learned CIT – A in assessee's own case for the earlier year. The learned AO dismissed this ground and stated that the order of the learned

ACIT CIR 4(2), MUMBAI vs. M .M. POONJIAJI SPICES LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

22,598,203/–. Same was added to the total income of the assessee. The assessee submitted before the learned assessing officer that this issue is covered by the decision of the learned CIT – A in assessee's own case for the earlier year. The learned AO dismissed this ground and stated that the order of the learned

I.T.O-4(2)(4), MUMBAI vs. M/S M.M.POONJIAJI SPICES LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

22,598,203/–. Same was added to the total income of the assessee. The assessee submitted before the learned assessing officer that this issue is covered by the decision of the learned CIT – A in assessee's own case for the earlier year. The learned AO dismissed this ground and stated that the order of the learned

ITO - 4(2)(4), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

22,598,203/–. Same was added to the total income of the assessee. The assessee submitted before the learned assessing officer that this issue is covered by the decision of the learned CIT – A in assessee's own case for the earlier year. The learned AO dismissed this ground and stated that the order of the learned

INCOME TAX OFFICER 4(2)(4), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

22,598,203/–. Same was added to the total income of the assessee. The assessee submitted before the learned assessing officer that this issue is covered by the decision of the learned CIT – A in assessee's own case for the earlier year. The learned AO dismissed this ground and stated that the order of the learned

ITO - 4(2)(2), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

22,598,203/–. Same was added to the total income of the assessee. The assessee submitted before the learned assessing officer that this issue is covered by the decision of the learned CIT – A in assessee's own case for the earlier year. The learned AO dismissed this ground and stated that the order of the learned

ITO - 4(2)(4), MUMBAI vs. M/S. M.M. POONJIAJI SPICES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

22,598,203/–. Same was added to the total income of the assessee. The assessee submitted before the learned assessing officer that this issue is covered by the decision of the learned CIT – A in assessee's own case for the earlier year. The learned AO dismissed this ground and stated that the order of the learned

ASST CIT 27(2), NAVI MUMBAI vs. MERIT MAGNUM CONSTRUCTION, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Gagan Goyal

22,323/- on which deduction u/s 80-IB (10) is claimed. If the interest income which is not eligible for deduction u/s 80-IB (10) is reduced from the eligible profits, the same turns into loss as the interest income credited to P&L A/c. is more than the profits declared. Therefore in such case as there is no profit

VODAFONE INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7(3), MUMBAI

In the result, the appeal of the assessee is allowed

section 68 of the Act merely on the basis that details regarding the source of source of funds of such rights shareholders has not been provided. Further, this action of the learned AO also undermines the order of learned TPO and learned DRP wherein the right issue made to such shareholders has been examined and verified with no adverse

RAHEJA LEGENCY TRUST,MUMBAI vs. ACIT, CIR-22(1), MUMBAI

In the result, the appeal of the assessee is partly allowed and appeal filed by the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

22,99,347 which had fallen due for repayment during the year and renewed. As per the appellant, the fresh loans taken during the year were Rs.86,10,21,727 only. On this basis, it has been contended that the inquiry as required by Section 68

ACIT CIRCLE-22(1), MUMBAI vs. RAHEJA LEGACY TRUST, MUMBAI

In the result, the appeal of the assessee is partly allowed and appeal filed by the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

22,99,347 which had fallen due for repayment during the year and renewed. As per the appellant, the fresh loans taken during the year were Rs.86,10,21,727 only. On this basis, it has been contended that the inquiry as required by Section 68

VIJAYA PRAKASH NAGORI ,MUMBAI vs. ITO WARD 32(2)(1), MUMBAI

Bench: Hon’Ble Shri Sandeep Gosain& Shri Om Prakash Kantvijaya Prakash Nagori Vs. Ito, Ward, 32(2)(1) 409/C, Abhar Jp Road, Kautilya Bhawan, C-41- Seven Bungalows, Andhere 43, Avenue, 3, Near (W), Mumbai – 400 061. Videsh Bhavan, G Block Bkc Pan/Gir No. Aekpr2943H (Applicant) (Respondent)

22. Further we also place reliance upon the decision of the Hon'ble Supreme Court 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 and held as under: 26 Vijaya Prakash Nagori, Mumbai. Section 10(38), read with sections

SYNTENSIA NETWORK SECURITY INDIA P.LTD,MUMBAI vs. ITO 11(2)(4), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm M/S. Syntensia Network Security Vs. Ito 11(2)(4) India Pvt. Ltd., Churchgate, 506, Laxmi Mall Laxmi Industrial Mumbai - 400020 Estate New Link Road, Andheri (W) Mumbai - 400053 Pan/Gir No.Aalcs1143G Appellant) Respondent) ..

10,09,000/= on account of unsecured loan. In this regard, we find that out of these loan of this amount, only Rs. 50,000/= was received in the present year and the balance is on account of opening balance. Hence, only this amount of Rs. 50,0007= can be considered for addition under Section 68 in this year

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

22,84,40,77,000/- on account of interim bonus paid (final additional bonus and loyalty addition). 63. In view of paragraph 16 to 22 above, the issue under consideration is remitted back to the file of Assessing Officer for adjudication as per the directions given by the Tribunal in its order dated, 06.09.2019, passed in ITA No. 4459 & 4428/Mum/2015