SABRAS INVESTMENT & TRADING CO. LTD ( NOW MERGED WITH TATA CHEMICAL LTD),MUMBAI vs. ASST CIT 2(2), MUMBAI

The appeals of the assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Aayakr Apila Sam./ Ita No. 915/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 916/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 917/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 918/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1999-00) Aayakr Apila Sam./ Ita No. 869/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 870/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 871/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 872/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1999-00)

6 7[Additional Director or]7 5 Joint Commissioner or Joint Director who is directed under clause (b) of sub-section (4) of that section to exercise or perform all or any of the 59 | P a g e ITA Nso.915 to 918/Mum/2012 & 869 to 872/Mum/2013 powers and functions conferred on or assigned to, an Assessing Officer under

SABRAS INVESTMENT & TRADING CO. LTD ( NOW MERGED WITH TATA CHEMICALS LTD),MUMBAI vs. ACIT 2(2), MUMBAI

The appeals of the assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Aayakr Apila Sam./ Ita No. 915/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 916/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 917/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 918/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1999-00) Aayakr Apila Sam./ Ita No. 869/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 870/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 871/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 872/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1999-00)

6 7[Additional Director or]7 5 Joint Commissioner or Joint Director who is directed under clause (b) of sub-section (4) of that section to exercise or perform all or any of the 59 | P a g e ITA Nso.915 to 918/Mum/2012 & 869 to 872/Mum/2013 powers and functions conferred on or assigned to, an Assessing Officer under

SABRAS INVESTMENT & TRADING CO. LTD ( NOW MERGED WITH TATA CHEMICALS LTD),MUMBAI vs. JCIT SP RG, 1, MUMBAI

The appeals of the assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Aayakr Apila Sam./ Ita No. 915/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 916/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 917/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 918/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1999-00) Aayakr Apila Sam./ Ita No. 869/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 870/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 871/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 872/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1999-00)

6 7[Additional Director or]7 5 Joint Commissioner or Joint Director who is directed under clause (b) of sub-section (4) of that section to exercise or perform all or any of the 59 | P a g e ITA Nso.915 to 918/Mum/2012 & 869 to 872/Mum/2013 powers and functions conferred on or assigned to, an Assessing Officer under

SABRAS INVESTMENT & TRADING P.LTD ( NOW MERGED WITH TATA CHEMICALS LTD),MUMBAI vs. JCIT SP RG, 1, MUMBAI

The appeals of the assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Aayakr Apila Sam./ Ita No. 915/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 916/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 917/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 918/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 1999-00) Aayakr Apila Sam./ Ita No. 869/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1996-97) Aayakr Apila Sam./ Ita No. 870/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1997-98) Aayakr Apila Sam./ Ita No. 871/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 872/Mum/2013 (Inaqa-Arna Baya- / Assessment Year 1999-00)

6 7[Additional Director or]7 5 Joint Commissioner or Joint Director who is directed under clause (b) of sub-section (4) of that section to exercise or perform all or any of the 59 | P a g e ITA Nso.915 to 918/Mum/2012 & 869 to 872/Mum/2013 powers and functions conferred on or assigned to, an Assessing Officer under

R. KUNDAN & CO.,MUMBAI vs. ITO WD 14(3)(2), MUMBAI

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 6(1)(c) is not applicable to the appellant. Held that nothing was brought on record to indicate that the appellant is permanently domiciled in UK despite documentary evidence having been filed. Held that the appellant is a resident and ordinarily resident in India liable to pay tax on global income. B. Additions u/s 68 of the Income

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)

b) in relation to any other capital asset- (i) where the capital asset became the property of the assessee before the 1st day of April. 2001, means the cost of acquisition of the asset to the assessee or the fair market value of the asset on the 1st day of April, 2001 at the option of the assessee (ii) where

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)

Section 14A(3) of the Act. Thus the AO made a disallowance u/s 14A of the Act read with Rule 8D of Income Tax Rules, 1962 as under:- Computation of 14A Disallowance as per Notification No. 45/2008 dated 24/3/2008 A Directly Attributed Expenses Amount Direct Expenses Total Direct Expenses 20,357 B Interest Expenses Interest which cannot be directly

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)

Section 14A(3) of the Act. Thus the AO made a disallowance u/s 14A of the Act read with Rule 8D of Income Tax Rules, 1962 as under:- Computation of 14A Disallowance as per Notification No. 45/2008 dated 24/3/2008 A Directly Attributed Expenses Amount Direct Expenses Total Direct Expenses 20,357 B Interest Expenses Interest which cannot be directly

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

6) were\nissued and the assessee was asked to produce the share applicant\nfor verification, however the assessee did not produce them and\nthat the assessee's claim of the share premium as share premium\nas capital receipt is an alternate ground and is not acceptable and\nsection 68 of the Act speaks of any sum credited in the books

SHREE SAI BABA SANSTHAN TRUST (SHIRDI),MUMBAI vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION) 2(1), MUMBAI

In the result, appeal of assessee is partly allowed and appeals of the revenue are dismissed

6 of Paper-book, mentions the details of the temples located within the shrine at Shirdi. The website also gives details of the rituals, poojas, ceremonies etc., which are being performed throughout the day along with timings etc. for the information, and knowledge of the devotees. We also note that the assessee Trust is also regarded as a must visit

DY. COMMISSIONER O INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST(SHIRDI), MUMBAI

In the result, appeal of assessee is partly allowed and appeals of the revenue are dismissed

6 of Paper-book, mentions the details of the temples located within the shrine at Shirdi. The website also gives details of the rituals, poojas, ceremonies etc., which are being performed throughout the day along with timings etc. for the information, and knowledge of the devotees. We also note that the assessee Trust is also regarded as a must visit

DY. COMMISSIONER O INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST(SHIRDI), MUMBAI

In the result, appeal of assessee is partly allowed and appeals of the revenue are dismissed

6 of Paper-book, mentions the details of the temples located within the shrine at Shirdi. The website also gives details of the rituals, poojas, ceremonies etc., which are being performed throughout the day along with timings etc. for the information, and knowledge of the devotees. We also note that the assessee Trust is also regarded as a must visit

DY. COMMISSIONER OF INCOME TAX (EXEMPTION) 2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST (SHIRDI), MUMBAI

In the result, appeal of assessee is partly allowed and appeals of the revenue are dismissed

6 of Paper-book, mentions the details of the temples located within the shrine at Shirdi. The website also gives details of the rituals, poojas, ceremonies etc., which are being performed throughout the day along with timings etc. for the information, and knowledge of the devotees. We also note that the assessee Trust is also regarded as a must visit

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

section 68 of the Act. The relevant proviso is reproduced as is reproduced as under: “Provided further further that] where the assessee is a company (not being a where the assessee is a company (not being a company in which the public are substantially interested), and the sum company in which the public are substantially interested

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

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 of preference share application money received as unexplained cash credit under section 68 of the Act; 8. failed

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

In the result, the appeal of the assessee is allowed

b) ignores and contravenes the binding Supreme Court judgments, hence, contravenes Article 141 of the Indian Constitution Hereinafter all the grounds are without prejudice to Ground 1. 2. Ground No. 2 – Additions under section 68 of the Act – INR 7,959,683,862 2.1 On the facts and in circumstances of the case and in law, the learned

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

DCIT CIRCLE-15 (3), MUMBAI vs. M/S RANKIN INFRASTRUCTURE PVT LTD. , MUMBAI

In the result, Ground No. 2 and 3 raised by the revenue are dismissed

Bench: Shri Amarjit Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle – 15(3)(1) V. M/S. Rankin Infrastructure Pvt. Ltd., Room No. 451, 4Th Floor Next To Classic Marble Aayakar Bhavan, M.K. Road Subash Nagar Road, Bhandup (E) Mumbai - 400020 Mumbai -400078 Pan: Aafcs5275B (Appellant) (Respondent) Assessee By : Shri Rajiv Khandelwal Department By : Shri T. Shankar

68 as against section 56(2)(viib) which deals with issue of shares. In this regard, in view of the reasons given above, I find that the said implication made by the learned AO is merely based on presumptions and does not lay down the’ clear provisions of section 56(2)(viib) and Rule 11UA. The learned

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

2. If Ground No. II is allowed, and it is held that receipts received or earned by the Appellant is not assessable as Appellant own income as Appellant is agent of the State Government, the question of allowing related expenses also does not arise; This ground will not, therefore survive for adjudication. 3. If Ground No I & II both