RAMESH JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

56. It was argued that the provisions of section 55(2)(ac), as they stood prior to amendment, did not provide for determination of FMV in respect of unlisted shares sold through OFS prior to their listing. Hence, to avoid rendering the section nugatory, reference could be made to the general definition under section 2(22B), which

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

68", "Section 147", "Section 2(24)", "Section 56(2)(viib)", "Section 106" ], "issues": "Whether the addition

HUMUZA CONSULTANTS,MUMBAI vs. THE PR. CIT-19, MUMBAI

In the result, appeal filed by the assessee is allowed and the stay application filed by the assessee is dismissed

Bench: Shri Prashant Maharishi () & Shri Pavan Kumar Gadale () Humuza Consultants Vs The Principal Commissioner Of 6Th Floor, Wokhardt Towers Income-Tax-19, Mumbai Bandra Kurla Complex Room No. 228, 2Nd Floor, Bandra East Matru Mandir Mumbai-400 01 Tardeo Road, Pan : Aahfh9240E Mumbai-400 007 Appellant Respondent Appellant By Shri Jd Mistry & Hiten Chande Respondent By Shri K.K. Mishra (Cit,Dr) Date Of Hearing 07-12-2021 Date Of Pronouncement 07-01-2022 O R D E R Per Prashant Maharishi (Am):

56(2) (viia) of the act as those shares were of company in which public are substantially interested. 28. Further, with respect to the Explanation 2 to section 263 of the Act which has been inserted with effect from 01/06/2015 provides that any order passed by the assessing officer shall be deemed to be erroneous as insofar

M/S UNIHEALTH CONSULTANCY LIMITED,MUMBAI vs. DCIT, 8 (3) (1), MUMBAI

In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2017-18 M/S Unihealth Consultancy Ltd., The Dy. Cit-8(3)(1), H-13 & H-14 Everest, 9Th Floor, Room No. 615, 6Th Floor, Aayakar Vs. Tardeo Road, Bhavan, Maharishi Karve Road, Mumbai-400034. Mumbai-400020. Pan No. Aabcu 1551 C Appellant Respondent

56(2)(viib) of the Act amounting to Rs.4,09,70,600/-. Alternati . Alternatively, the Ld. Assessing Officer also vely, the Ld. Assessing Officer also examined the genuineness of the entire share capital invoking examined the genuineness of the entire share capital invoking examined the genuineness of the entire share capital invoking section 68

KETAN HIMATLAL MEHTA,MUMBAI, MAHARASHTRA vs. NFAC, NOT APPLICABLE

Appeal is partly allowed

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

68,190/-) under Section 56(2)(x) of Act vide Assessment Order, dated 23/09/2022. 4 Assessment Year 2020-2021 5. The appeal

NERKA CHEMICALS P. LTD,GUJRAT vs. ASST CIT CEN CIR 38, MUMBAI

In the result this ground of appeal is allowed for statistical purpose

Bench: Shri R.C. Sharma, Accountant Mamber & Shri Pawan Singh

2(22)(a) of the Act in the hands of the members of Shroff family and brought to tax under section 115-O of the Act in the hands of Bloom Packaging and Uniphos International by the CIT(A) was deleted. 20. For submission of ld. Special Counsel that order of Tribunal in case Ultima was based on different

ITO 6(3)(1), MUMBAI vs. 25 FPS MEDIA PVT. LTD. , MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

2)(x) of the Act. 11 3085/M/2018 A.Y. 2012-13 215. In view of the above discussion, it is held that the receipt of shares of Zee News Ltd. by the appellant at NIL consideration during the year is not chargeable to tax in the hands of the appellant under the provisions of section 56

25FPS MEDIA PVT. LTD.,MUMBAI vs. ITO ,RANGE -6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

2)(x) of the Act. 11 3085/M/2018 A.Y. 2012-13 215. In view of the above discussion, it is held that the receipt of shares of Zee News Ltd. by the appellant at NIL consideration during the year is not chargeable to tax in the hands of the appellant under the provisions of section 56

DY CIT. CIRCLE-1, THANE vs. M/S TRAVECOM GLOBAL P. LTD., BHAYANDER

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle 1 V. M/S. Travecom Global Pvt. Ltd., Room No. 22, B-Wing B/607, Krishnakunj 6Th Floor, Ashar I.T. Park Salasar Brij Bhoomi Wagle Industrial Estate Bhayander (W)-401101 Thane (W)-400604 Pan: Aaect8729Q (Appellant) (Respondent) Assessee By : Ms. Aarti Vissanji Department By : Shri B.K. Bagchi

68 of the IT Act, 1961 and not in respect of Section 56(2)(viib) of the IT Act, 1961 Submission

DCIT-14(1)(1), MUMBAI vs. JAYMALA INFRASTRUCTURE PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dism

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13

56(2)(viib) of the Act and the same is enumerated as Income in Section 2(24)(xvi) of the Act. same is enumerated as Income in Section 2(24)(xvi) of the Act. same is enumerated as Income in Section 2(24)(xvi) of the Act. However, what is However, what is bought into the ambit

JALALUDDIN MOHAMMED ALI KHAN,MUMBAI vs. INCOME TAX OFFICER WARD 26(1)(4) MUMBAI, BANDRA EAST

In the result, the appeal filed by the assessee is allowed for In the result, the appeal filed by the assessee is allowed for In the result, the appeal filed by the assessee is allowed for statisti...

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2016-17 Jalaluddin Mohammed Ali Khan, Ito Ward-26(1)(4), A/9 Sharif Market Laxminarayan Pratyakshakar Bhavan C-11 Vs. Mandir Road, Off Kherani Road Bandra Kurla Complex, Sakinaka, S.O. Bandra East, Mumbai-400072. Mumbai-400051. Pan No. Anppk 9394 P Appellant Respondent

section 56(2)(vii)(b) are applicable. 56(2)(vii)(b) are applicable. 2. Briefly stated, facts of the case are that the assessee is an Briefly stated, facts of the case are that the assessee is an Briefly stated, facts of the case are that the assessee is an individual and filed return of income on 17.10.2016 declaring

DIRECT MEDIA DISTRIBUTION VENTURES PVT. LTD.,MUMBAI vs. ITO , RG-6(2)(3)(PRESENT IN CHARGE ACIR-RG-6(2)(2), MUMBAI

In the result, appeal of the revenue dismissed and appeal of the assessee is also dismissed

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2715/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13) The Assistant Commissioner Direct Media Distribution Of Income Tax 6(2)(2), Ventures Pvt. Ltd. बिधम/ Mumbai 135, Continental Building, Vs. Aayakar Bhavan, M.K.Road, Annie Besant Road, Worli, Churchgate, Mumbai-400 020 Mumbai-400 048 स्थायीलेखासं./जीआइआरसं./Pan No. Aadcd1940Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

68 in respect of share premium receipt from its holding company. 19. Thereafter, Ld. CIT(A) further went to analyse and held that, in so far as fair value of the shares are concerned, there was no provision in the Act prior to insertion of Section 56(2

ACIT - CIRCLE- 6(2)(2), MUMBAI vs. DIRECT MEDIA DISTRIBUTION VENTURES PVT. LTD., MUMBAI

In the result, appeal of the revenue dismissed and appeal of the assessee is also dismissed

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2715/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13) The Assistant Commissioner Direct Media Distribution Of Income Tax 6(2)(2), Ventures Pvt. Ltd. बिधम/ Mumbai 135, Continental Building, Vs. Aayakar Bhavan, M.K.Road, Annie Besant Road, Worli, Churchgate, Mumbai-400 020 Mumbai-400 048 स्थायीलेखासं./जीआइआरसं./Pan No. Aadcd1940Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

68 in respect of share premium receipt from its holding company. 19. Thereafter, Ld. CIT(A) further went to analyse and held that, in so far as fair value of the shares are concerned, there was no provision in the Act prior to insertion of Section 56(2

KETAN HIMATLAL MEHTA,MUMBAI, MAHARASHTRA vs. NFAC, NOT APPLICABLE

Accordingly, order the CIT(A) is overturned and the addition of LTCG of INR.6,30,873/- is deleted. Thus, Ground No. 3 raised by the Assessee is allowed

Bench: making this addition in the Appellate Order. Reasons assigned by him are wrong and insufficient. Therefore, Appellant prays for the deletion the addition of Rs.6,30,873 as confirmed by the Learned CIT(A).

68,32,379/- after making addition of INR.1,35,17,669/- to the returned income of INR.1,33,14,710/-. Being aggrieved, the Assessee challenged the additions made by the Assessing Officer before the CIT(A). Vide order dated, 26/03/2024, the CIT(A) confirmed the addition of INR.1,35,17,669/- made by the Assessing Officer under Section 56

NILESH JANARDAN THAKUR,MUMBAI vs. ITO 25(1)(4), MUMBAI

In the result, appeal filed by the assessee in ITA No

Bench: Shri D.T. Garasia () & Shri G Manjunatha ()

56(2)(vi), the provisions of section 68 and the provisions of section 28(iv) has not been

ACIT CIRCLE 4.3.1, MUMBAI vs. JUST DIAL LTD, MUMBAI

56(2)", "Section 115JB(2A)", "Section 37(1)", "Section 143(3)", "Section 142(1)", "Section 144B", "Section 68

APARNA SANDEEP KULKARANI ,MUMBAI vs. INCOME TAX OFFICER INT TAX WARD 3(1)(1), MUMBAI

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhailassessment Year : 2015-16 Aparna Sandeep Kulkarni, Income Tax Officer, 201A, Kanchanjanga, Int. Tax. Ward-3(1)(1), Sector 12-A, Plot No.12, Vs. Kautilya Bhavan, Koparkhairane, Bandra Kurla Complex, Navi Mumbai-400709. Bandra (East), Pan : Axfpk0077M Mumbai-400051. (Appellant) (Respondent) For Assessee : Shri Ketan L. Vajani For Revenue : Shri Krishna Kumar, Sr.Dr Date Of Hearing : 17-07-2025 Date Of Pronouncement : 03-10-2025 O R D E R Per Vikram Singh Yadav, A.M :

section 56(2)(vii)(b) of the Act and therefore the rate comes to Rs. 1,39,890/- PSM (Rs. 68

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

56, Pg. 577 of LPB. c.) Whether the amendment to section 2(15) made by the Finance Act 2015 w.e.f. 01/04/2016 would apply retrospectively for the impugned assessment year? Finding of the CIT(A): The CIT(A) has held that the amendment to section 2(15) made by the Finance Act 2015 w.e.f. 01/04/2016 would apply prospectively