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

68 to 69C would be applicable in addition to the computation of income under these sections. We, therefore, reject the argument of learned Departmental Representative that addition under section 69 for excess 15 Oberoi Foundation investment has to be independently carried out notwithstanding exemption of income under sections 11 to 13. 21. Now, we come

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

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

23. Learned CIT – A confirmed the reopening of the assessment as invalid. With respect to the challenge of assessment under section 144, the action of the AO was confirmed. With respect to the rejection of the books of accounts under section 145 of the act the learned CIT – A held that the addition has not been made

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

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

23. Learned CIT – A confirmed the reopening of the assessment as invalid. With respect to the challenge of assessment under section 144, the action of the AO was confirmed. With respect to the rejection of the books of accounts under section 145 of the act the learned CIT – A held that the addition has not been made

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

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

23. Learned CIT – A confirmed the reopening of the assessment as invalid. With respect to the challenge of assessment under section 144, the action of the AO was confirmed. With respect to the rejection of the books of accounts under section 145 of the act the learned CIT – A held that the addition has not been made

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

23. Learned CIT – A confirmed the reopening of the assessment as invalid. With respect to the challenge of assessment under section 144, the action of the AO was confirmed. With respect to the rejection of the books of accounts under section 145 of the act the learned CIT – A held that the addition has not been made

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

23. Learned CIT – A confirmed the reopening of the assessment as invalid. With respect to the challenge of assessment under section 144, the action of the AO was confirmed. With respect to the rejection of the books of accounts under section 145 of the act the learned CIT – A held that the addition has not been made

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

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

23. Learned CIT – A confirmed the reopening of the assessment as invalid. With respect to the challenge of assessment under section 144, the action of the AO was confirmed. With respect to the rejection of the books of accounts under section 145 of the act the learned CIT – A held that the addition has not been made

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

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

23. Learned CIT – A confirmed the reopening of the assessment as invalid. With respect to the challenge of assessment under section 144, the action of the AO was confirmed. With respect to the rejection of the books of accounts under section 145 of the act the learned CIT – A held that the addition has not been made

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

68 stipulates that any unexplained sum found credited in the books of the assessee for any previous year, then the same may be taxed as income of the assessee for that previous year. Thus, section 69 of I.T. Act can only be invoked if the transaction has been taken in the relevant previous year for which assessment is being

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

In the result, the appeal of the assessee is allowed

23,70,00,000 was deposited by the assessee. Based on the same, a refund of Rs 3,98,66,552 was claimed by the assessee, in the return of the income for the subject AY. During the subject AY, the assessee made a right issue for 7,09,86,318 equity shares of Rs 10 each at a premium

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)

10(38) - Assessing Officer rejected assessee's plea and made additions under sections 68 and 69 by relying on statements from 'entry operators' - On appeal, Commissioner (Appeals) accepted assessee's claim, noting that shares were purchased via Account Payee Cheques, held in a Demat Account for over 12 months, and sold through a recognized stock exchange after payment

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

Section 68 to such kind of transaction. The appellant has submitted voluminous data and several details in the form of tabular statements during the course of the appellate proceeding as well as remand proceeding before the JAO. One of the statements submitted to JAO was in the form of Annexure-14 which has been submitted by the appellant vide

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

Section 68 to such kind of transaction. The appellant has submitted voluminous data and several details in the form of tabular statements during the course of the appellate proceeding as well as remand proceeding before the JAO. One of the statements submitted to JAO was in the form of Annexure-14 which has been submitted by the appellant vide

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

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

TATA EDUCATION TRUST ,MUMBAI vs. ASSISTANT COMMISSIIONER OF INCOME TAX CIRCLE 17(3), MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiya

68. In view of the above discussions, as also bearing in mind the entirety of the case, we are of the considered view that the impugned order of cancellation of registration granted to the assessee under section 12A must be held to be effective from the date on which the hearing on first show-cause notice was concluded

TATA EDUCATION TRUST ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-CIRCLE 2(1), MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiya

68. In view of the above discussions, as also bearing in mind the entirety of the case, we are of the considered view that the impugned order of cancellation of registration granted to the assessee under section 12A must be held to be effective from the date on which the hearing on first show-cause notice was concluded

ASSISTANT COMMISSIONER OF INCOME TAX, KAUTILYA BHAVAN, BKC, MUMBAI vs. TATA EDUCATION TRUST, MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiya

68. In view of the above discussions, as also bearing in mind the entirety of the case, we are of the considered view that the impugned order of cancellation of registration granted to the assessee under section 12A must be held to be effective from the date on which the hearing on first show-cause notice was concluded

DCIT 4 (3)(1), MUMBAI vs. SHRI MOHIT KEEPAK KAMBOJ, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alcpk2213Q (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

section 23(4)(a) during the appellate proceedings to treat the Juhu property as the Self- occupied Property. Consequently, the Worli property has to be treated A.Ys. 2010-11 & 2012-13 Mohit Deepak Kamboj as the deemed let out property for the purpose of computing the income from house property u/s 23(1). 10. In view of the above