Itxa/10/2008 Of The Commissioner Of Income Tax-4, Mumbai v. Natvarlal And Sons Stock Brokers P. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARYORIGINAL CIVIL JURISDICTION ORDINARY INCOME TAX APPEAL NO.13 OF 2006 INCOME TAX APPEAL NO.13 OF 2006 INCOME TAX APPEAL NO.13 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s.Walfort Share and Stock Brokers Pvt. Ltd. ..Respondent. Mr.G.C.Srivastav with Mr.Beni Chatterjee, Advocates for the appellant. Mr.S.E.Dastur, Senior Advocate with Mr.R.Murlidhar and P.C.Tripathi and A.K.Jasani for the respondent. WITH WITH INCOME TAX APPEAL NO.302 OF 2006 INCOME TAX APPEAL NO.302 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. Shri Sureshchandra S.Jain ..Respondent. Mr.Ashokan for appellant. Mr.Deepak Tralshawala for respondent. WITH WITH INCOME TAX APPEAL (L) NO.1086 OF 2006 INCOME TAX APPEAL (L) NO.1086 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. Gandhi Securities and Investments ..Respondent. Mr.Vimal Gupta for appellant. WITH WITH INCOME TAX APPEAL (L) NO.1508 OF 2006 INCOME TAX APPEAL (L) NO.1508 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. Shri Rajendraprasad Jhunjhuwala ..Respondent. WITH WITH INCOME TAX APPEAL (L) NO.2058 OF 2006 INCOME TAX APPEAL (L) NO.2058 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s.PRS Shares and Finance P. Ltd. ..Respondent. Mr.Subhash S.Shetty with Hiro Rai for respondent. WITH WITH INCOME TAX APPEAL (L) NO.2649 OF 2006 INCOME TAX APPEAL (L) NO.2649 OF 2006 -= : 2 : =- The Commissioner of Income Tax ..Appellant. V/s. M/s.Dhanlaxmi Cotex Ltd. ..Respondent. Mr.Vimal Gupta for appellant. WITH WITH INCOME TAX APPEAL (L) NO.2652 OF 2006 INCOME TAX APPEAL (L) NO.2652 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s. Bajaj Shares and Stock Broking Pvt. Ltd. ..Respondent. Dr.K.Shivram with Paras S. Savla i/b. Ajay R.Singh for respondent. WITH WITH INCOME TAX APPEAL NO.1014 OF 2008 INCOME TAX APPEAL NO.1014 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. Shri Mohit Agarwal ..Respondent. Mr.P.S.Sahadevan for appellant. Dr.K.Shivram with Paras S. Savla i/b. Ajay R.Singh for respondent. WITH WITH INCOME TAX APPEAL NO.393 OF 2006 INCOME TAX APPEAL NO.393 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s. Bang Equity Broking Pvt. Ltd. ..Respondent. Mr.B.M.Chatterjee for appellant. Mr.A.K.Jasani with R.Murlidhar for respondent. WITH WITH INCOME TAX APPEAL NO.436 OF 2006 INCOME TAX APPEAL NO.436 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s.Ennembee Securities Pvt. Ltd. ..Respondent. Mr.R.Asokan for appellant. Mr.A.K.Jasani with R.Murlidhar for respondent. WITH WITH INCOME TAX APPEAL NO.450 OF 2006 INCOME TAX APPEAL NO.450 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. Mishrilal H. Bang (HUF) ..Respondent. -= : 3 : =- Mr.B.M.Chatterjee for appellant. Mr.A.K.Jasani with R.Murlidhar for respondent. WITH WITH INCOME TAX APPEAL NO.451 OF 2006 INCOME TAX APPEAL NO.451 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s.Bang Securities Pvt. Ltd. ..Respondent. Mr.B.M.Chatterjee for appellant. Mr.A.K.Jasani with R.Murlidhar for respondent. WITH WITH INCOME TAX APPEAL NO.94 OF 2007 INCOME TAX APPEAL NO.94 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. Padmakshi Financial Services Pvt.Ltd. ..Respondent. WITH WITH INCOME TAX APPEAL NO.350 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. Mishrilal H. Bang (HUF) ..Respondent. -= : 3 : =- Mr.B.M.Chatterjee for appellant. Mr.A.K.Jasani with R.Murlidhar for respondent. WITH WITH INCOME TAX APPEAL NO.451 OF 2006 INCOME TAX APPEAL NO.451 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s.Bang Securities Pvt. Ltd. ..Respondent. Mr.B.M.Chatterjee for appellant. Mr.A.K.Jasani with R.Murlidhar for respondent. WITH WITH INCOME TAX APPEAL NO.94 OF 2007 INCOME TAX APPEAL NO.94 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. Padmakshi Financial Services Pvt.Ltd. ..Respondent. WITH WITH INCOME TAX APPEAL NO.350 OF 2007 INCOME TAX APPEAL NO.350 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. M/s.Nehraj Stock Brokers Pvt.Ltd. ..Respondent. Mr.R.Asokan for appellant. WITH WITH INCOME TAX APPEAL NO.907 OF 2007 INCOME TAX APPEAL NO.907 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. M/s.Oxemberg Fasions Ltd. ..Respondent. Mr.P.S.Sahadevan for appellant. Mr.Sanjiv M.Shah for respondent. WITH WITH INCOME TAX APPEAL NO.1227 OF 2007 INCOME TAX APPEAL NO.1227 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. M/s.Puneet Seurities P. Ltd. ..Respondent. Mr.Vimal Gupta for appellant. WITH WITH INCOME TAX APPEAL NO.1545 OF 2007 INCOME TAX APPEAL NO.1545 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. -= : 4 : =- M/s.Motisons Securities Pvt. Ltd. ..Respondent. WITH WITH INCOME TAX APPEAL NO.1549 OF 2007 INCOME TAX APPEAL NO.1549 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. Mrs. Purnima B. Pilinja ..Respondent. Mr.P.S.Sahadevan with A.Ahuja for appellant. Mr.S.C.Tiwari with Priya Damle for respondent. WITH WITH INCOME TAX APPEAL NO.10 OF 2008 INCOME TAX APPEAL NO.10 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. Natvarlal & Sons Stockbrokers P. Ltd. ..Respondent. Mr.Vimal Gupta for appellant. Dr.K.Shivram with Ajay R.Singh, Paras S.Savla for respondent. WITH WITH INCOME TAX APPEAL NO.80 OF 2008 INCOME TAX APPEAL NO.80 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. M/s.Swarup Incorporated ..Respondent. Mr.P.S.Shahadevan for appellant. Mr.Atul K.Jasani for respondent. WITH WITH INCOME TAX APPEAL NO.468 OF 2008 INCOME TAX APPEAL NO.468 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. Shri Rajkumar Damani ..Respondent. Mr.P.S.Shahadevan for appellant. Mr.Subhash S. Shetty with Hiro Rao for respondent. WITH WITH INCOME TAX APPEAL NO.512 OF 2008 INCOME TAX APPEAL NO.512 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. M/s.Omega Equities Pvt. Ltd. ..Respondent. Mr.Atul K.Jasani for respondent. WITH WITH INCOME TAX APPEAL NO.949 OF 2008 INCOME TAX APPEAL NO.949 OF 2008 -= : 5 : =- The Commissioner of Income Tax ..Appellant. V/s. Vimla S.Jajoo ..Respondent. Mr.Atul K.Jasani for respondent. WITH WITH INCOME TAX APPEAL (L) NO.1101 OF 2006 INCOME TAX APPEAL (L) NO.1101 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s.Sodhani Securities Ltd. ..Respondent. WITH WITH INCOME TAX APPEAL (L) NO.1102 OF 2006 INCOME TAX APPEAL (L) NO.1102 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. Suresh K. Jajoo ..Respondent. Mr.Atul K.Jasani for respondent. WITH WITH INCOME TAX APPEAL (L) NO.1034 OF 2007 INCOME TAX APPEAL (L) NO.1034 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. INCOME TAX APPEAL NO.949 OF 2008 -= : 5 : =- The Commissioner of Income Tax ..Appellant. V/s. Vimla S.Jajoo ..Respondent. Mr.Atul K.Jasani for respondent. WITH WITH INCOME TAX APPEAL (L) NO.1101 OF 2006 INCOME TAX APPEAL (L) NO.1101 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. M/s.Sodhani Securities Ltd. ..Respondent. WITH WITH INCOME TAX APPEAL (L) NO.1102 OF 2006 INCOME TAX APPEAL (L) NO.1102 OF 2006 The Commissioner of Income Tax ..Appellant. V/s. Suresh K. Jajoo ..Respondent. Mr.Atul K.Jasani for respondent. WITH WITH INCOME TAX APPEAL (L) NO.1034 OF 2007 INCOME TAX APPEAL (L) NO.1034 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. Ashok Kumar Damani ..Respondent. Mr.Vimal Gupta for appellant. Mr.Subhash S.Shetty with Hiro Rao for respondent. WITH WITH INCOME TAX APPEAL (L) NO.1499 OF 2007 INCOME TAX APPEAL (L) NO.1499 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. M/s.Shivparas Pvt. Ltd. ..Respondent. WITH WITH INCOME TAX APPEAL (L) NO.1891 OF 2007 INCOME TAX APPEAL (L) NO.1891 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. M/s.Sykes & Ray Equities (India) Ltd. ..Respondent. WITH WITH INCOME TAX APPEAL (L) NO.1892 OF 2007 INCOME TAX APPEAL (L) NO.1892 OF 2007 The Commissioner of Income Tax ..Appellant. V/s. Shri Ramesh M. Damani ..Respondent. Mr.Subhash S. Shetty with Hiro Rao for respondent. -= : 6 : =- WITH WITH INCOME TAX APPEAL (L) NO.106 OF 2008 INCOME TAX APPEAL (L) NO.106 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. M/s.MLR Securities Pvt.Ltd. ..Respondent. Mr.B.M.Chatterjee for appellant. Mr.Subhash S.Shetty with Hiro Rao for respondent. WITH WITH INCOME TAX APPEAL (L) NO.129 OF 2008 INCOME TAX APPEAL (L) NO.129 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. M/s.Marshall Equities Pvt. Ltd. ..Respondent. Mr.Atul K.Jasani for respondent. WITH WITH INCOME TAX APPEAL (L) NO.267 OF 2008 INCOME TAX APPEAL (L) NO.267 OF 2008 The Commissioner of Income Tax ..Appellant. V/s. Millennium Equities (I) Pvt. Ltd. ..Respondent. Mr.A.K.Jasani for respondent. CORAM : DR.S.RADHAKRISHNAN & CORAM : DR.S.RADHAKRISHNAN &J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. DATED : 8TH AUGUST, 2008. DATED : 8TH AUGUST, 2008. P.C. :- P.C. :- In view of Judgment delivered by us today i.e. 8th August, 2008 in Income Tax Appeal No.18 of 2006 (C.I.T. V/s. Walfort Share and Stock Brokers Pvt. Ltd.) all the above appeals are dismissed for the reasons given in the said Judgment. (DR.S.RADHAKRISHNAN, J.) (DR.S.RADHAKRISHNAN, J.) -= : 7 : =- (J.P.DEVADHAR, J.) (J.P.DEVADHAR, J.) (J.P.DEVADHAR, J.)