ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

271(l)(c) of the Act is initiated separately.” 5.2 On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire capital gain on account of conversion of capital asset being land capital gain

ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

271(l)(c) of the Act is initiated separately.” 5.2 On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire capital gain on account of conversion of capital asset being land capital gain

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

271(l)(c) of the Act is initiated separately.” 5.2 On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire On appeal, the Ld.CIT(A) on the first issue of taxing entire capital gain on account of conversion of capital asset being land capital gain

EMPLOYEES RETIREMENT SYSTEM OF TEXAS ,MUMBAI vs. DY CIT (INT. TAX)-2(2)(1), MUMBAI

The appeals are partly allowed

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

section 70, I find that there is no prohibition nor the Act compels the assessee to first set off short term capital gain with STT against short term capital loss with STT and then allows set off against short term capital gain without STT. In absence of any specific mode of set off provided in the Act and in absence

FIDELITY SALEM STREET TRUST FIDELITY SAI EMERGING MARKETS INDEX FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(3)(1), MUMBAI

The appeals are partly allowed

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

section 70, I find that there is no prohibition nor the Act compels the assessee to first set off short term capital gain with STT against short term capital loss with STT and then allows set off against short term capital gain without STT. In absence of any specific mode of set off provided in the Act and in absence

ADITYA BIRLA TELECOM LIMITED,MUMBAI vs. DY. COMM OF INCOME TAX 10(1), MUMBAI

In the result appeal of the assessee is allowed in part in terms indicated hereinabove

capital gains tax can be levied on such transfer under Section 50B of the Act; Ground no. 6 - Amortization of telecom license fees under Section 35ABB(2) of the Act 17. erred in disallowing the amortization of telecom license fees of Rs 9,47,36,842 claimed by the Appellant under Section 35ABB(2) of the Act; Ground

SKF INDIA LTD,MUMBAI vs. ASST CIT 4(3)4, MUMBAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee are allowed

Bench: Shri Rajendra & Shri C.N. Prasadआयकर अपील सं /I.Ta No.7092/Mum/2013 ("नधा"रण वष" / Assessment Year:2002-03 M/S. Skf India Ltd., The Acit-4(3), बनाम/ (Formerly Known As Skf Aayakar Bhavan, Vs. Bearings India Ltd) Mumbai-400 020 Mahatama Gandhi Memorial Bldg., Netaji Subhash Road, Mumbai-400 002 Appellant Respondent आयकर अपील सं /I.Ta No.3558/Mum/2012 ("नधा"रण वष" / Assessment Year:2005-06 M/S. Skf India Ltd., The Acit-4(3), बनाम/ (Formerly Known As Skf Aayakar Bhavan, Vs. Bearings India Ltd) Mumbai-400 020 Mahatama Gandhi Memorial Bldg., Netaji Subhash Road, Mumbai-400 002 आयकर अपील सं /I.Ta No.7093/Mum/2013 ("नधा"रण वष" / Assessment Year:2004-05 M/S. Skf India Ltd., The Acit-4(3), बनाम/ (Formerly Known As Skf Aayakar Bhavan, Vs. Bearings India Ltd) Mumbai-400 020 Mahatama Gandhi Memorial Bldg., Netaji Subhash Road, Mumbai-400 002 आयकर अपील सं /I.Ta No.6989/Mum/2013 ("नधा"रण वष" / Assessment Year:2004-05

section 112 of the IT Act applicable in respect of capital gain arising from transfer of long term capital asset. 2.6 We, therefore, held that, for the purpose of computation of capital gain, the flat has to be treated as short term capital gain u/s 50 of the IT Act, but for the purpose of applicability of tax rate

SKF INIDA LTD( SINCE MAY 19 2004 NAME HAS BEEN CHANGED FROM SKF BEARING INDIA LTD),MUMBAI vs. DCIT RG 4(3), MUMBAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee are allowed

Bench: Shri Rajendra & Shri C.N. Prasadआयकर अपील सं /I.Ta No.7092/Mum/2013 ("नधा"रण वष" / Assessment Year:2002-03 M/S. Skf India Ltd., The Acit-4(3), बनाम/ (Formerly Known As Skf Aayakar Bhavan, Vs. Bearings India Ltd) Mumbai-400 020 Mahatama Gandhi Memorial Bldg., Netaji Subhash Road, Mumbai-400 002 Appellant Respondent आयकर अपील सं /I.Ta No.3558/Mum/2012 ("नधा"रण वष" / Assessment Year:2005-06 M/S. Skf India Ltd., The Acit-4(3), बनाम/ (Formerly Known As Skf Aayakar Bhavan, Vs. Bearings India Ltd) Mumbai-400 020 Mahatama Gandhi Memorial Bldg., Netaji Subhash Road, Mumbai-400 002 आयकर अपील सं /I.Ta No.7093/Mum/2013 ("नधा"रण वष" / Assessment Year:2004-05 M/S. Skf India Ltd., The Acit-4(3), बनाम/ (Formerly Known As Skf Aayakar Bhavan, Vs. Bearings India Ltd) Mumbai-400 020 Mahatama Gandhi Memorial Bldg., Netaji Subhash Road, Mumbai-400 002 आयकर अपील सं /I.Ta No.6989/Mum/2013 ("नधा"रण वष" / Assessment Year:2004-05

section 112 of the IT Act applicable in respect of capital gain arising from transfer of long term capital asset. 2.6 We, therefore, held that, for the purpose of computation of capital gain, the flat has to be treated as short term capital gain u/s 50 of the IT Act, but for the purpose of applicability of tax rate

SHANNO MOHAMMED YUSUF WARSI ,MUMBAI vs. INCOME TAX OFFICER-25(1)(3), MUMBAI

In the result, the appeal

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

section 68 of the Act. After considering submission of the assessee considering submission of the assessee, the learned , the learned Assessing Officer concluded as under: Officer concluded as under: 16.6 All the indicators mentioned in Pa 16.6 All the indicators mentioned in Paras above, point to only one ras above, point to only one thing that the shares prices

FIDELITY RUTLAND SQUARE TRUST II STRATEGIC ADVISERS FID EMG MARKETS FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )2(3)(1), MUMBAI

271,201)\n(223,701,502)\n(9,77,33,796)\n174,64,01,537\n164,86,67,741\n\n5.1.\nThe underlying facts show that the assessee had short\nterm capital gains on STT paid shares, short term capital\nloss on STT paid shares and also short term capital gains\non non-STT paid shares and short term capital

FIDELITY RUTLAND SQUARE TRUST II STRATEGIC ADVISERS EMERGING MARKETS FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION), MUMBAI

The appeals are partly allowed

271,201)\n(223,701,502)\n(9,77,33,796)\n174,64,01,537\n164,86,67,741\n5. 1. The underlying facts show that the assessee had short\nterm capital gains on STT paid shares, short term capital\nloss on STT paid shares and also short term capital gains\non non-STT paid shares and short term capital

SCHWAB FUNDAMENTAL EMERGING MARKETS EQUITY ETY ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-4(2)(1), MUMBAI

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

section 70, I find that there is no prohibition nor the Act compels the assessee to first set off short term capital gain with STT against short term capital loss with STT and then allows set off against short term capital gain without STT. In absence of any specific mode of set off provided in the Act and in absence