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Commissioner of Income Tax Central-III Versus Jubiliant Enterprises Pvt. Ltd.

2017 (2) TMI 1219 - BOMBAY HIGH COURT

Disallowance u/s 14A r.w.r. 8D on the basis of the netting of interest - Held that:- Oone has to proceed on the basis that the decision of the Mumbai Bench of the Tribunal in Paresh K. Shah (supra) has been accepted by the Revenue. In any case, no di .....

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t received by the assessee - determine the ALV of the rented property - Tribunal upholding the order of CIT(A) directing AO to delete the 12% interest charged - Held that:- This issue stands concluded against the Revenue and in favour of the responde .....

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Divakar for the Appellant. None for the Respondent. P.C. 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 12th March, 2014 passed by the Income Tax Appellate Tribuna .....

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, the Tribunal was justified in holding that the disallowance made under Section 14A read with Rule 8D on the basis of the netting of interest relying upon the decision of benches in Paresh K. Shah (ITA No.8214/M/2011) and M/s. Trade Apartments Ltd.? .....

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harged by him, on the interest free deposit received by the assessee, to determine the ALV of the rented property ignoring the well settled judicial principle that what is important is the real nature of transactions in the relied on case supra and n .....

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his was by following the decision of its Coordinate bench at Mumbai in case of Paresh K. Shah (ITA no.8214/M/2011) and the decision of its Calcutta Bench in Trade Apartments Ltd. (ITA no.1277/Kol/2011). Mr. Kotangale, the learned counsel appearing fo .....

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the basis that the decision of the Mumbai Bench of the Tribunal in Paresh K. Shah (supra) has been accepted by the Revenue. In any case, no distinguishing features in facts or law has been pointed to us from those in the case of Paresh K. Shah (supra .....

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