GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD),MUMBAI vs. ADDL CIT LTU, MUMBAI

ITA 1065/MUM/2017Status: DisposedITAT Mumbai28 December 2023AY 2011-1256 pages
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What did the Tribunal hold?

The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. Several grounds raised by both parties were decided based on previous decisions of the Tribunal in the assessee's own case for earlier assessment years.

What were the facts?

The assessee, Grasim Industries Limited, filed appeals against the CIT(A)'s order for AY 2011-12, and the Revenue also filed cross-appeals. The case involved various issues including disallowance under Section 14A, treatment of corporate advertisement as capital expenditure, and transfer pricing adjustments.

What were the issues?

The key issues involved the correctness of disallowances under Section 14A, the treatment of various expenses as capital or revenue, transfer pricing adjustments for guarantees, and the allowability of subsidies and depreciation on goodwill.

Which sections of the Income-tax Act were involved?

Section 14A,Section 115JB,Section 80IA,Section 37,Section 43B,Section 32(1)(iia),Section 10B,Section 271(1)(c),Section 92CA,Section 143(3),Section 144C

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Cases cited in this judgment(30)Show list

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Income Tax Appellate Tribunal, “K” BENCH, MUMBAI

Before: SHRI VIKAS AWASTHY, JM &

For Appellant: Shri Yogesh Thar, AR, Ms. A. Alankrutha, Sr. DR
For Respondent: Ms. A. Alankrutha, Sr. DR
Hearing: 13.12.2023Pronounced: 28.12.2023

Heard together (2 matters)

I.T.A. No. 1065/Mum/2017
I.T.A. No. 1248/Mum/2017

Read from the judgment's own cause title. This page is filed under one of them.

Per Padmavathy S, AM: These Cross Appeals by the assessee and the Revenue are against the order of the Commissioner of Income Tax (Appeals)-55, Mumbai dat

The order continues below.

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