237(Kar); CIT v. Sociedade De Fomento Industrial (P.) Ltd.

123 Taxmann.com 38High Court2021#2687 most cited

What is 237(Kar); CIT v. Sociedade De Fomento Industrial (P.) Ltd. authority for?

Interest expenditure cannot be disallowed under Section 14A read with Rule 8D when the assessee possesses sufficient interest-free funds to cover investments that yield exempt income, even if mixed funds are utilized.

43

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2021 to 2025.

Also referred to as

CIT v. Sociedade De Fomento Industrial (P.) Ltd. · 123 Taxmann.com 38 · Section 14A · Rule 8D · disallowance of expenditure · exempt income · interest expenditure · sufficient interest-free funds · mixed funds · expenditure for exempt income

Sections most often in play

Section 10(34)Section 143(1)Section 143(2)Section 143(3)Section 1956Section 1957: Section 23CSection 1961: Sections 14ASection 1962: Rule 8D

Issues it is cited on

section 40(a)(2)(b)new employeessection 92ca(2)section 14(2)rule 8d disallowancegoodwill arising on amalgamationtest of enduring benefitsection 35ddsection 9(1)(ii)section 61section 72afunctional analysis

Judgments citing 237(Kar); CIT v. Sociedade De Fomento Industrial (P.) Ltd.

Raajratna Energy Holdings Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Central Circle-2(2), Bangalore

ITA 1185/BANG/2025[2018-19]Status: DisposedITAT Bangalore11 Aug 2025AY 2018-19

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

For Appellant: Shri. Ramesh Babu, CAFor Respondent: Shri. Swaroop Manava, Addl. CIT(DR)(ITAT), Bangalore
Section 14ASection 56(2)Section 56(2)(viib)

…INCOME TAX APPELLATE TRIBUNAL "B" BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. SOUNDARARAJAN K, JUDICIAL MEMBER ITA Nos.1184, 1185/Bang/2025 Assessment Years : 2017-18, 2018-19 M/s Raajratna Energy Holdings Pvt. Vs. ITO, Ltd Plot No 304, Level 3, Surya Chakra House, Road No 78, Jubilee Hills, Hyderabad - 500033. PAN : AAECM 6049 G APPELLANT Ward -3(2)(3), Bangalore. RESPONDENT Assessee by : Shri. Ramesh Babu, CA Revenue by : Shri. Swaroop Manava, Addl. CIT(DR)(ITAT), Bangalore. Date of hearing : 07.08.2025 Date of Pronouncement: 11=.09.2025 ORDER Per Laxmi Prasad Sahu, Accountant…

Raajratna Energy Holdings Private Limited, Hyderabad vs. Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

ITA 1184/BANG/2025[2017-18]Status: DisposedITAT Bangalore11 Aug 2025AY 2017-18

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

For Appellant: Shri. Ramesh Babu, CAFor Respondent: Shri. Swaroop Manava, Addl. CIT(DR)(ITAT), Bangalore
Section 14ASection 56(2)Section 56(2)(viib)

…INCOME TAX APPELLATE TRIBUNAL "B" BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. SOUNDARARAJAN K, JUDICIAL MEMBER ITA Nos.1184, 1185/Bang/2025 Assessment Years : 2017-18, 2018-19 M/s Raajratna Energy Holdings Pvt. Ltd Plot No 304, Level 3, Surya Chakra House, Road No 78, Jubilee Hills, Hyderabad - 500033. PAN : AAECM 6049 G APPELLANT Vs. ITO, Ward -3(2)(3), Bangalore. RESPONDENT Assessee by : Shri. Ramesh Babu, CA Revenue by : Shri. Swaroop Manava, Addl. CIT(DR)(ITAT), Bangalore. Date of hearing : 07.08.2025 Date of Pronouncement: 11=.09.2025 ORDER Per Laxmi Prasad Sahu, Accountant…

Prime Mineral Exports Private Limited (Now Amalgamated With Fomento Resources Private Limited), Panaji vs. Joint Commissioner of Income Tax, Range - 1, Panaji

The appeal stands partly allowed for statistical purpose in aforestated terms

ITA 3/PAN/2023[2009-10]Status: DisposedITAT Panaji05 Jun 2025AY 2009-10

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 003/Pan/2023 Assessment Year : 2009-10 Prime Mineral Exports Pvt. Ltd. (Now Amalgamated With Fomento Resources Pvt. Ltd.) 102, 1St Fl. Kamat Metropolis-1, Behind Caculo Mall, St. Inez, Panaji, Goa-403001. . . . . . . .Appellant Pan : Aadcp1647E V/S Jt. Commissioner Of Income Tax, . . . . . . . Respondent Range-1, Panaji, Goa

For Appellant: Mr Nishant Thakkar [‘Ld. AR’]For Respondent: Mr M. Satish [‘Ld. DR’]
Section 143(1)Section 143(2)Section 143(3)Section 14ASection 246ASection 250Section 253(1)Section 41(1)Section 4I

…the Ld. AR placed reliance on ‘UOI Vs Rajeev Bansal’ [2024, 469 ITR 46 (SC)], ‘Eicher Motors Ltd. Vs CIT’ [86 Taxmann.com 49 (Del)], ‘CIT Vs UP Electronics Corp. Ltd.’ [2017, 88 Taxmann.com 696 (All)], ‘CIT Vs Sociedade De Fomento Industrial (P). Ltd’ [2021, 123 Taxmann.com 38 (Bom)], and also the decision of Ld. Co-ordinate benches in the case of ‘DCIT Vs West Bengal Electronics Industry Development Corp. Ltd.’ [Manu/IK/0324/2018], and ‘Infrastructure Logistics (P) Ltd. Vs JCIT’ [2022, 196 ITD 153]. ITAT-Panaji Page 8 of 42 Prime Mineral Exports Pvt. Ltd.(Now Amalgamated with Fomento Resources Pvt. Ltd.) Vs J…

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 303/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2017-18

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant Mahadeokar, Accountant Member ITA Nos. 198 & 199/Ahd/2023 Asst. Year. 2016-17 & 2017-18 Suzlon Energy Ltd. The DCIT, 5, Shrimali Society, Circle-4(1)(1), Suzlon House, Nr. Vs Ahmedabad Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N ITA Nos. 302 & 303/Ahd/2023 Asst. Years. 2016-17 & 2017-18 The DCIT, Suzlon Energy Ltd. Circle-4(1)(1), 5, Shrimali Society, Ahmedabad Vs Suzlon House, Nr. Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N (Appell…

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 302/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant Mahadeokar, Accountant Member ITA Nos. 198 & 199/Ahd/2023 Asst. Year. 2016-17 & 2017-18 Suzlon Energy Ltd. The DCIT, 5, Shrimali Society, Circle-4(1)(1), Suzlon House, Nr. Vs Ahmedabad Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N ITA Nos. 302 & 303/Ahd/2023 Asst. Years. 2016-17 & 2017-18 The DCIT, Suzlon Energy Ltd. Circle-4(1)(1), 5, Shrimali Society, Ahmedabad Vs Suzlon House, Nr. Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N (Appell…

Suzlon Energy Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad

In the result the Ground Nos

ITA 199/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2017-18

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant Mahadeokar, Accountant Member ITA Nos. 198 & 199/Ahd/2023 Asst. Year. 2016-17 & 2017-18 Suzlon Energy Ltd. The DCIT, 5, Shrimali Society, Circle-4(1)(1), Suzlon House, Nr. Vs Ahmedabad Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N ITA Nos. 302 & 303/Ahd/2023 Asst. Years. 2016-17 & 2017-18 The DCIT, Suzlon Energy Ltd. Circle-4(1)(1), 5, Shrimali Society, Ahmedabad Vs Suzlon House, Nr. Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N (Appell…

Suzlon Energy Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad

In the result the Ground Nos

ITA 198/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant Mahadeokar, Accountant Member ITA Nos. 198 & 199/Ahd/2023 Asst. Year. 2016-17 & 2017-18 Suzlon Energy Ltd. The DCIT, 5, Shrimali Society, Circle-4(1)(1), Suzlon House, Nr. Vs Ahmedabad Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N ITA Nos. 302 & 303/Ahd/2023 Asst. Years. 2016-17 & 2017-18 The DCIT, Suzlon Energy Ltd. Circle-4(1)(1), 5, Shrimali Society, Ahmedabad Vs Suzlon House, Nr. Shree Krishna Centre, Navrangpura Ahmedabad-380009, PAN: AADCS0472N (Appell…

Federal Bank Ltd, Kochi vs. ACIT Corp. Circle-1(1 ), Kochi

ITA 399/COCH/2023[2017-18]Status: DisposedITAT Cochin13 Aug 2024AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.Gopi, CAFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 144Section 147Section 14ASection 36Section 36(1)(viii)

…ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxmann.com 60 (Karn.)  CIT Vs. Hero Management Services Ltd. 360 ITR 68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are avai…

Federal Bank Ltd, Kochi vs. ACIT Corp. Circle-1(1 ), Kochi

ITA 397/COCH/2023[2015-16]Status: DisposedITAT Cochin13 Aug 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.Gopi, CAFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 144Section 147Section 14ASection 36Section 36(1)(viii)

…ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxmann.com 60 (Karn.)  CIT Vs. Hero Management Services Ltd. 360 ITR 68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are avai…

Federal Bank Ltd, Kochi vs. ACIT Corp. Circle-1(1 ), Kochi

ITA 396/COCH/2023[2014-15]Status: DisposedITAT Cochin13 Aug 2024AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.Gopi, CAFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 144Section 147Section 14ASection 36Section 36(1)(viii)

…ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxmann.com 60 (Karn.)  CIT Vs. Hero Management Services Ltd. 360 ITR 68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are avai…

Federal Bank Ltd, Kochi vs. ACIT Corp. Circle-1(1 ), Kochi

ITA 395/COCH/2023[2013-14]Status: DisposedITAT Cochin13 Aug 2024AY 2013-14

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.Gopi, CAFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 144Section 147Section 14ASection 36Section 36(1)(viii)

…ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxmann.com 60 (Karn.)  CIT Vs. Hero Management Services Ltd. 360 ITR 68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are avai…

Federal Bank Ltd, Kochi vs. ACIT Corp. Circle-1(1 ), Kochi

ITA 394/COCH/2023[2012-13]Status: DisposedITAT Cochin13 Aug 2024AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.Gopi, CAFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 144Section 147Section 14ASection 36Section 36(1)(viii)

…ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxmann.com 60 (Karn.)  CIT Vs. Hero Management Services Ltd. 360 ITR 68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are avai…

Federal Bank Ltd, Kochi vs. ACIT Corp. Circle-1(1 ), Kochi

ITA 393/COCH/2023[2011-12]Status: DisposedITAT Cochin13 Aug 2024AY 2011-12

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.Gopi, CAFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 144Section 147Section 14ASection 36Section 36(1)(viii)

…ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxmann.com 60 (Karn.)  CIT Vs. Hero Management Services Ltd. 360 ITR 68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are avai…

DCIT Cir. 4(3)(2), Mumbai vs. Morgan Stanley India Co. Pvt. Ltd., Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

ITA 2720/MUM/2016[2008-09]Status: DisposedITAT Mumbai30 Jun 2023AY 2008-09
Section 32(1)Section 40Section 40A(2)Section 92Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.1952/Mum/2014 (Assessment Year :2003-04) CO No.218/Mum/2016 (Arising Out of ITA No.2720/Mum/2016) (Assessment Year: 2008-09) & M/s. Morgan Stanley India Vs. Additional Company Private Limited Commissioner of 18F/19F, Tower 2, Income Tax-Range 4(3) One Indiabulls Centre Mumbai – 400 020 841, Senapati Bapat Marg Mumbai- 400 013 PAN/GIR No.AAACJ4998F (Appellant) .. (Respondent) Addl/Dy. Vs. M/s. J M Morgan Stanley Commissioner of Securities Pvt. Ltd. Income Tax-Range Forbes…

Morgan Stanley India Company P. Ltd, Mumbai vs. Addl CIT 4(3), Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

ITA 1714/MUM/2016[2008-09]Status: DisposedITAT Mumbai30 Jun 2023AY 2008-09
Section 32(1)Section 40Section 40A(2)Section 92Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.1952/Mum/2014 (Assessment Year :2003-04) CO No.218/Mum/2016 (Arising Out of ITA No.2720/Mum/2016) (Assessment Year: 2008-09) & M/s. Morgan Stanley India Vs. Additional Company Private Limited Commissioner of 18F/19F, Tower 2, Income Tax-Range 4(3) One Indiabulls Centre Mumbai – 400 020 841, Senapati Bapat Marg Mumbai- 400 013 PAN/GIR No.AAACJ4998F (Appellant) .. (Respondent) Addl/Dy. Vs. M/s. J M Morgan Stanley Commissioner of Securities Pvt. Ltd. Income Tax-Range Forbes…

DCIT 4(3), Mumbai vs. Jm Morgan Stanley Securities P. Ltd, Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

ITA 2637/MUM/2014[2003-04]Status: DisposedITAT Mumbai30 Jun 2023AY 2003-04
Section 32(1)Section 40Section 40A(2)Section 92Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.1952/Mum/2014 (Assessment Year :2003-04) CO No.218/Mum/2016 (Arising Out of ITA No.2720/Mum/2016) (Assessment Year: 2008-09) & M/s. Morgan Stanley India Vs. Additional Company Private Limited Commissioner of 18F/19F, Tower 2, Income Tax-Range 4(3) One Indiabulls Centre Mumbai – 400 020 841, Senapati Bapat Marg Mumbai- 400 013 PAN/GIR No.AAACJ4998F (Appellant) .. (Respondent) Addl/Dy. Vs. M/s. J M Morgan Stanley Commissioner of Securities Pvt. Ltd. Income Tax-Range Forbes…

Morgan Stanley India Company P.Ltd, Mumbai vs. Asst CIT RG 4(3), Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

ITA 1952/MUM/2014[2003-04]Status: DisposedITAT Mumbai30 Jun 2023AY 2003-04
Section 32(1)Section 40Section 40A(2)Section 92Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.1952/Mum/2014 (Assessment Year :2003-04) CO No.218/Mum/2016 (Arising Out of ITA No.2720/Mum/2016) (Assessment Year: 2008-09) & M/s. Morgan Stanley India Vs. Additional Company Private Limited Commissioner of 18F/19F, Tower 2, Income Tax-Range 4(3) One Indiabulls Centre Mumbai – 400 020 841, Senapati Bapat Marg Mumbai- 400 013 PAN/GIR No.AAACJ4998F (Appellant) .. (Respondent) Addl/Dy. Vs. M/s. J M Morgan Stanley Commissioner of Securities Pvt. Ltd. Income Tax-Range Forbes…

ACIT 4(3), Mumbai vs. Morgan Stanley India Co. Pvt. Ltd., Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

ITA 1235/MUM/2014[2009-10]Status: DisposedITAT Mumbai30 Jun 2023AY 2009-10
Section 32(1)Section 40Section 40A(2)Section 92Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.1952/Mum/2014 (Assessment Year :2003-04) CO No.218/Mum/2016 (Arising Out of ITA No.2720/Mum/2016) (Assessment Year: 2008-09) & M/s. Morgan Stanley India Vs. Additional Company Private Limited Commissioner of 18F/19F, Tower 2, Income Tax-Range 4(3) One Indiabulls Centre Mumbai – 400 020 841, Senapati Bapat Marg Mumbai- 400 013 PAN/GIR No.AAACJ4998F (Appellant) .. (Respondent) Addl/Dy. Vs. M/s. J M Morgan Stanley Commissioner of Securities Pvt. Ltd. Income Tax-Range Forbes…

Morgan Stanley India Company P.Ltd, Mumbai vs. Addl CIT RG 4(3), Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

ITA 1018/MUM/2014[2009-10]Status: DisposedITAT Mumbai30 Jun 2023AY 2009-10
Section 32(1)Section 40Section 40A(2)Section 92Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.1952/Mum/2014 (Assessment Year :2003-04) CO No.218/Mum/2016 (Arising Out of ITA No.2720/Mum/2016) (Assessment Year: 2008-09) & M/s. Morgan Stanley India Vs. Additional Company Private Limited Commissioner of 18F/19F, Tower 2, Income Tax-Range 4(3) One Indiabulls Centre Mumbai – 400 020 841, Senapati Bapat Marg Mumbai- 400 013 PAN/GIR No.AAACJ4998F (Appellant) .. (Respondent) Addl/Dy. Vs. M/s. J M Morgan Stanley Commissioner of Securities Pvt. Ltd. Income Tax-Range Forbes…

Addl CIT RG 4(3), Mumbai vs. Morgan Stanley India Co P. Ltd, Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

ITA 831/MUM/2013[2007-08]Status: DisposedITAT Mumbai30 Jun 2023AY 2007-08
Section 32(1)Section 40Section 40A(2)Section 92Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.1952/Mum/2014 (Assessment Year :2003-04) CO No.218/Mum/2016 (Arising Out of ITA No.2720/Mum/2016) (Assessment Year: 2008-09) & M/s. Morgan Stanley India Vs. Additional Company Private Limited Commissioner of 18F/19F, Tower 2, Income Tax-Range 4(3) One Indiabulls Centre Mumbai – 400 020 841, Senapati Bapat Marg Mumbai- 400 013 PAN/GIR No.AAACJ4998F (Appellant) .. (Respondent) Addl/Dy. Vs. M/s. J M Morgan Stanley Commissioner of Securities Pvt. Ltd. Income Tax-Range Forbes…

237(Kar); CIT v. Sociedade De Fomento Industrial (P.) Ltd. (123 Taxmann.com 38) — Cited in 43 Judgments | BharatTax