SYNGENTA INDIA PVT LTD ( ERSTWHILE KNOWN AS SYNGENTA INDIA LTD),MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX -RANGE 1(3)(1), MUMBAI

ITA 3831/MUM/2024Status: DisposedITAT Mumbai21 November 2024AY 2015-16Bench: SHRI SANDEEP GOSAIN (Judicial Member), MS PADMAVATHY S (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal dismissed the ground regarding refund of excess DDT paid, holding that DTAA does not apply when a domestic company pays DDT. It allowed ESOP expenses as allowable expenditure under Section 37(1), following High Court precedents. The additional ground regarding exemption for seed business income was admitted and remitted to the AO for factual verification.

What were the facts?

The assessee company appealed against orders of the CIT(A) concerning various assessment years. Key issues included disallowance of additional depreciation, set-off of losses, deduction under Section 35(1)(iv), education cess, ESOP expenses, and a claim for exemption of seed business income under Section 10(1).

What were the issues?

Whether dividend distribution tax paid by a domestic company is subject to DTAA rates, and whether ESOP expenses are allowable as a deduction. Additionally, whether income from seed business qualifies for exemption as agricultural income.

Which sections of the Income-tax Act were involved?

Section 35(1)(iv),Section 37(1),Section 10(1),Section 115-O

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Cases cited in this judgment(6)Show list

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Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Before: SHRI SANDEEP GOSAIN, JM &

For Appellant: Shri Rajan Vora & Shri Pranay
For Respondent: Shri Nagnath Bhimrao Pasale
Hearing: 12.11.2024Pronounced: 21.11.2024

Heard together (4 matters)

I.T.A. No.3831/Mum/2024
I.T.A. No.3449/Mum/2024
I.T.A. No.4414/Mum/2024
I.T.A. No.3448/Mum/2024

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Syngenta India Private Ltd.

Per Bench: These appeals by the assessee are against the separate orders of Commissioner of Income Tax (Appeals)/ National Faceless Appeal Centre (NFAC) Delhi [in short 'the CIT(A)'] dated 04.06.2024 for Assessment Year (AY) 2015-16, dated 07.05.2024 for AY 2016-17 & 2018-19 & dated 03.07.2024 for AY 2017-18. 2. The assessee is a private limited company engaged in crop protection business and

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