JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

40A(3) without appreciating the facts of the case and hence, pray that impugned disallowance of Rs 1,39,81,267 is bad in law and ought to be deleted. 8. Disallowance of deduction under section 80P 8.1. The CIT(A) erred in sustaining the disallowance made by the Assessing Officer of deduction under section 80P claimed

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

40A(3) without appreciating the facts of the case and hence, pray that impugned disallowance of Rs 1,39,81,267 is bad in law and ought to be deleted. 8. Disallowance of deduction under section 80P 8.1. The CIT(A) erred in sustaining the disallowance made by the Assessing Officer of deduction under section 80P claimed

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

40A(3) without appreciating the facts of the case and hence, pray that impugned disallowance of Rs 1,39,81,267 is bad in law and ought to be deleted. 8. Disallowance of deduction under section 80P 8.1. The CIT(A) erred in sustaining the disallowance made by the Assessing Officer of deduction under section 80P claimed

SHRI RENUKAMATA MULTI-STATE CO-OPERATIVE URBAN SOCIETY LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(4), MUMBAI

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

40A(3) without appreciating the facts of the case and hence, pray that impugned disallowance of Rs 1,39,81,267 is bad in law and ought to be deleted. 8. Disallowance of deduction under section 80P 8.1. The CIT(A) erred in sustaining the disallowance made by the Assessing Officer of deduction under section 80P claimed

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

40A(3) without appreciating the facts of the case and hence, pray that impugned disallowance of Rs 1,39,81,267 is bad in law and ought to be deleted. 8. Disallowance of deduction under section 80P 8.1. The CIT(A) erred in sustaining the disallowance made by the Assessing Officer of deduction under section 80P claimed

DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

68,81,76,553 Total of the above (A) 385,26,81,557 Provision for bad & doubtful debts in books (B) 455,78,00,000 Deduction u/s. 36(1)(viia) - lower of A & B 385,26,81,557 9. The AO recomputed the deduction under section 36(1)(viia) on the ground that – (i) that the assessee while computing

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

68,81,76,553 Total of the above (A) 385,26,81,557 Provision for bad & doubtful debts in books (B) 455,78,00,000 Deduction u/s. 36(1)(viia) - lower of A & B 385,26,81,557 9. The AO recomputed the deduction under section 36(1)(viia) on the ground that – (i) that the assessee while computing

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. DCIT, CENTRAL RANGE-8 (3), MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is having ITA No

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Dcit-Cc 8(3), 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Jcit, Central Range-8, 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent : Assessee By Mr. Rushabh Mehta, Ar Revenue By : Mr. Manoj Kumar, Cit- Dr : Date Of Hearing 15/09/2022 Date Of Pronouncement : 31/10/2022

section 40A(3) of the Act and thereby confirming the addition of entire sales as income of thereby confirming the addition of entire sales as income of thereby confirming the addition of entire sales as income of the assessee. the assessee. 3. The Ld. CIT(A) erred in facts and law in up 3. The Ld. CIT(A) erred

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. JCIT, CENTRAL RANGE-8 , MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is having ITA No

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Dcit-Cc 8(3), 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Jcit, Central Range-8, 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent : Assessee By Mr. Rushabh Mehta, Ar Revenue By : Mr. Manoj Kumar, Cit- Dr : Date Of Hearing 15/09/2022 Date Of Pronouncement : 31/10/2022

section 40A(3) of the Act and thereby confirming the addition of entire sales as income of thereby confirming the addition of entire sales as income of thereby confirming the addition of entire sales as income of the assessee. the assessee. 3. The Ld. CIT(A) erred in facts and law in up 3. The Ld. CIT(A) erred

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. JCIT, CENTRAL RANGE-8, MUMBAI

In the result, the appeals of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2011-12 & Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2014-15

40A(3) should be applied to disallow the same in entirety. 14. We have considered the rival submissions made before us and ve considered the rival submissions made before us and ve considered the rival submissions made before us and perused the material placed on record. Firstly, we have decided in perused the material placed on record. Firstly, we have

ACIT- 3(1)(1), MUMBAI vs. MM/S SANOFI INDIA LIMITED (FORMERLY KNOWN AS AVENTIS PHARMA LTD)., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

40A(2)(a)(b) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). 8. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in confirming the disallowance of Rs 87,61,130 representing part of the payment made for encashment of leave. He ought not to have

M/S SANOFI INDIA LTD (FORMERLY KNOWN AS AVENTIS PHARMA LTD,MUMBAI vs. THE ACIT RG 8(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

40A(2)(a)(b) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). 8. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in confirming the disallowance of Rs 87,61,130 representing part of the payment made for encashment of leave. He ought not to have

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(3), MUMBAI, MUMBAI vs. ABU JANI SANDEEP KHOSLA, MUMBAI

In the result, the appeal of revenue is dismissed

Bench: Shri Pawan Singh & Ms. Padmavathy S.(Physical Hearing) Abu Jani Sandeep Khosla, Dcit, Central Circle 3(3), Gala No. 22 A Block, 1St Floor, Room No. 1923, 19Th Floor, Vs Ghanshyam Industrial Estate, Air India Building, Veera Desai Road, Andheri West, Nariman Point, Mumbai Mumbai-400058 Pan: Aaafa 2341 Q Appellant / Assessee Respondent / Revenue Dcit, Central Circle 3(3), Abu Jani Sandeep Khosla, Room No.404, 4Th Floor, Vs Gala No. 22 A Block, 1St Floor, Kautilya Bhawan, Ghanshyam Industrial Estate, Bandra Kurla Complex, Veera Desai Road, Andheri Mumbai-400051 West, Mumbai-400058 Pan: Aaafa 2341 Q Appellant / Assessee Respondent / Revenue

40A(3).The AO further noted that assessee has shown unsecured loan from Blue Star Investment of ₹ 18.00 lakhs. On show cause notice, the AO recorded that no details were furnished by assessee. The AO in absence of Abu Jani Sandeep Khosla (AY 2017-18) documentary evidence treated such loan amount as unexplained cash credit under section 68

ABU JANI SANDEEP KHOSLA ,MUMBAI vs. DCIT CENTRAL CIRCLE 3(3), MUMBAI

In the result, the appeal of revenue is dismissed

Bench: Shri Pawan Singh & Ms. Padmavathy S.(Physical Hearing) Abu Jani Sandeep Khosla, Dcit, Central Circle 3(3), Gala No. 22 A Block, 1St Floor, Room No. 1923, 19Th Floor, Vs Ghanshyam Industrial Estate, Air India Building, Veera Desai Road, Andheri West, Nariman Point, Mumbai Mumbai-400058 Pan: Aaafa 2341 Q Appellant / Assessee Respondent / Revenue Dcit, Central Circle 3(3), Abu Jani Sandeep Khosla, Room No.404, 4Th Floor, Vs Gala No. 22 A Block, 1St Floor, Kautilya Bhawan, Ghanshyam Industrial Estate, Bandra Kurla Complex, Veera Desai Road, Andheri Mumbai-400051 West, Mumbai-400058 Pan: Aaafa 2341 Q Appellant / Assessee Respondent / Revenue

40A(3).The AO further noted that assessee has shown unsecured loan from Blue Star Investment of ₹ 18.00 lakhs. On show cause notice, the AO recorded that no details were furnished by assessee. The AO in absence of Abu Jani Sandeep Khosla (AY 2017-18) documentary evidence treated such loan amount as unexplained cash credit under section 68

ITO 19(2)(3), MUMBAI vs. MEENAKSHI N SHAH, MUMBAI

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2007-08 Dcit 5(2)(2) Meridian Chem Bond Mumbai Purchase Ltd., बनाम/ 903 Raheja Centre, Free Vs. Press Journal Marg, Nariman Point, Mumbai 400 021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. Aaacr1789G

40A(3) of the Act; however, deleted addition made by the AO towards MVAT u/s 43B of the Act. Aggrieved by the order of CIT(A), the assessee is in appeal before us. 4. The first issue that came up for our consideration is addition made by the AO towards unsecured loan u/s 68 of the Act. The AO made

LATE SUNIL D GULATI,MUMBAI vs. COMMISSIONER OF INCOME TAX -CENTRAL CIRCLE-39 , MUMBAI

In the result, the appeals of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 Late Sunil D Gulati, Cit-Central Circle 39, 603, Elco Residency, Almeda Room No. 1924, 19Th Floor, Vs. Park Behind Elco Market, Air India Building, Nariman Bandra (West), Point, Churchgate, Mumbai-400050. Mumbai-400020. Pan No. Aehpg 8703 R Appellant Respondent

section 40A(3) Further, the AO has also invoked provisions of section 40A(3) Further, the AO has also invoked provisions of section 40A(3) of the I.T.Act and has disallowed an amount of Rs. of the I.T.Act and has disallowed an amount of Rs. of the I.T.Act and has disallowed an amount

LATE SUNIL D GULATI,MUMBAI vs. COMMISSIONER OF INCOME TAX -CENTRAL CIRCLE-39, MUMBAI

In the result, the appeals of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 Late Sunil D Gulati, Cit-Central Circle 39, 603, Elco Residency, Almeda Room No. 1924, 19Th Floor, Vs. Park Behind Elco Market, Air India Building, Nariman Bandra (West), Point, Churchgate, Mumbai-400050. Mumbai-400020. Pan No. Aehpg 8703 R Appellant Respondent

section 40A(3) Further, the AO has also invoked provisions of section 40A(3) Further, the AO has also invoked provisions of section 40A(3) of the I.T.Act and has disallowed an amount of Rs. of the I.T.Act and has disallowed an amount of Rs. of the I.T.Act and has disallowed an amount

DCIT-CC-4(2), MUMBAI, MUMBAI vs. RUBBERWALA REALTY, MUMBAI

In the result, all the appeals of the assessee for AYs 2015-16 to

Bench: We Advert To The Grounds Taken In The Cross Appeals, It Would First Be Relevant To Cull Out The Basic Facts Of The Case & Effect Of Law In Brief In Respect Of Certain Ays. Search U/S 132 Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Was Conducted Against The Rubberwala Group, On 17-03-2021 Thereby Triggering Section 153A Of The Act. Prior To The Date Of Search, The Income-Tax Assessments For Ays 2015-16 To 2019-20 Were Either Completed U/S 143(1)/143(3) Of The Act And/Or The Time Limit For Issue Of Notice U/S 143(2) Of The Act Had Expired. Accordingly, The Income-Tax 3

68 of the Act was untenable both in law and on facts and thus the AO is directed to delete the same as well. Consequently, the disallowance of interest paid on this loan in AYs 2020-21 & 2021- 33 ITA No.3443 & Ors/Mum/2023 A.Ys. 2015-16 to 2021-22 Rubberwala Realty 22 made u/s 69C of the Act is also held