ACIT v. Vireet Investment Pvt. Ltd.

82 Taxmann.com 415High Court2017#65 most cited

What is ACIT v. Vireet Investment Pvt. Ltd. authority for?

Disallowance computed under Section 14A, read with Rule 8D, cannot be added to book profits under Section 115JB for Minimum Alternate Tax (MAT) purposes. Additionally, for Section 14A disallowance, only investments that yielded exempt income during the year are considered for calculating their average value.

789

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2017 to 2026.

Also referred to as

ACIT v. Vireet Investment Pvt. Ltd. · Section 14A · Section 115JB · Rule 8D · disallowance for exempt income · book profits · Minimum Alternate Tax · MAT · average value of investments · investments yielding exempt income · special bench · Delhi Tribunal

Also reported as

165 ITR 27154 DTR 241165 ITD 26

Sections most often in play

Section 14ASection 115JBSection 143(3)Section 8DSection 250Section 37(1)Section 154Section 10(34)

Issues it is cited on

section 115jb(2)disallowance of interest expenditurebook profitssection 14a(2)disallowance under section 14asection 115jdisallowance u/s 14asection 115jbsection 14asection 92btransfer pricing adjustmentarm's length price

Judgments citing ACIT v. Vireet Investment Pvt. Ltd.

Empee Distilleries Ltd., Chennai vs. Addl. CIT Corporate Range 2(1), Chennai

In the result, the order passed by the tribunal dated 9-1-2015 insofar as it pertains to the findings recorded against the assessee is hereby quashed

ITA 2335/CHNY/2017[2009-10]Status: DisposedITAT Chennai30 Aug 2022AY 2009-10

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2334, 2335 & 2336/Chny/2017 िनधा"रण वष"/Assessment Years:2008-09, 2009-10 & 2010-11 M/S. Empee Distilleries Ltd., The Assistant Commissioner Of Empee Tower, No. 59, Harris Road, Vs. Income Tax, Company Range Ii, Pudupet, Chennai 600 002. Chennai Presently Corporate [Pan:Aaace1687N] Circle 2(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sridhar, Advocate ""थ" की ओर से/Respondent By : Shri Raveendra Benakatti, Jcit सुनवाई की तारीख/ Date Of Hearing : 05.07.2022 घोषणा की तारीख /Date Of Pronouncement : 30.08.2022 आदेश /O R D E R Per V. Durga Rao: These Three Appeals Filed By The Assessee Are Directed Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Dated 28.07.2017, Relevant To The Assessment Years 2008-09, 2009-10 & 2010-11. Since The Facts Are Identical & Common Issues Have Been Raised, All The Appeals Were Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Brevity. The Assessee Has Raised The Following Common Grounds: 1. The Common Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 28.07.2017 In I.T.A.No.20/2010-11/Cit(A)-9 For The Above

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri Raveendra Benakatti, JCIT
Section 14ASection 37(1)Section 40Section 40ASection 40A(3)

…आयकर अपीलीय अिधकरण, ’बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी वी दुगा" राव "ाियक सद" एवं "ी जी. मंजुनाथा, लेखा सद" के सम" Before Shri V. Durga Rao, Judicial Member & Shri G. Manjunatha, Accountant Member आयकर अपील सं./I.T.A. Nos. 2334, 2335 & 2336/Chny/2017 िनधा"रण वष"/Assessment Years:2008-09, 2009-10 & 2010-11 M/s. Empee Distilleries Ltd., The Assistant Commissioner of Empee Tower, No. 59, Harris Road, Vs. Income Tax, Company Range II, Pudupet, Chennai 600 002. Chennai presently Corporate [PAN:AAACE1687N] Circle 2(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपील…

Empee Distilleries Ltd., Chennai vs. Addl. CIT Corporate Range 2(1), Chennai

In the result, the order passed by the tribunal dated 9-1-2015 insofar as it pertains to the findings recorded against the assessee is hereby quashed

ITA 2334/CHNY/2017[2008-09]Status: DisposedITAT Chennai30 Aug 2022AY 2008-09

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2334, 2335 & 2336/Chny/2017 िनधा"रण वष"/Assessment Years:2008-09, 2009-10 & 2010-11 M/S. Empee Distilleries Ltd., The Assistant Commissioner Of Empee Tower, No. 59, Harris Road, Vs. Income Tax, Company Range Ii, Pudupet, Chennai 600 002. Chennai Presently Corporate [Pan:Aaace1687N] Circle 2(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sridhar, Advocate ""थ" की ओर से/Respondent By : Shri Raveendra Benakatti, Jcit सुनवाई की तारीख/ Date Of Hearing : 05.07.2022 घोषणा की तारीख /Date Of Pronouncement : 30.08.2022 आदेश /O R D E R Per V. Durga Rao: These Three Appeals Filed By The Assessee Are Directed Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Dated 28.07.2017, Relevant To The Assessment Years 2008-09, 2009-10 & 2010-11. Since The Facts Are Identical & Common Issues Have Been Raised, All The Appeals Were Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Brevity. The Assessee Has Raised The Following Common Grounds: 1. The Common Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 28.07.2017 In I.T.A.No.20/2010-11/Cit(A)-9 For The Above

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri Raveendra Benakatti, JCIT
Section 14ASection 37(1)Section 40Section 40ASection 40A(3)

…आयकर अपीलीय अिधकरण, ’बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी वी दुगा" राव "ाियक सद" एवं "ी जी. मंजुनाथा, लेखा सद" के सम" Before Shri V. Durga Rao, Judicial Member & Shri G. Manjunatha, Accountant Member आयकर अपील सं./I.T.A. Nos. 2334, 2335 & 2336/Chny/2017 िनधा"रण वष"/Assessment Years:2008-09, 2009-10 & 2010-11 M/s. Empee Distilleries Ltd., The Assistant Commissioner of Empee Tower, No. 59, Harris Road, Vs. Income Tax, Company Range II, Pudupet, Chennai 600 002. Chennai presently Corporate [PAN:AAACE1687N] Circle 2(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपील…

DCIT, Circle-2(1)(1), Baroda vs. M/S. Sun Pharmaceuticals Industries Ltd., Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1520/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…r section 14A of the Act in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. 86.3 However, we note that in the recent judgment of Special Bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 82 Taxmann.com 415 has held that the disallowances made u/s 14A r.w.r. 8D cannot be the subject matter of disallowances while determining the net profit u/s 115JB of the Act. The relevant portion of the said order is reproduced below: “In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made without r…

DCIT, Circle-2(1)(1), Baroda vs. M/S. Sun Pharmaceuticals Industries Ltd., Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1519/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…r section 14A of the Act in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. 86.3 However, we note that in the recent judgment of Special Bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 82 Taxmann.com 415 has held that the disallowances made u/s 14A r.w.r. 8D cannot be the subject matter of disallowances while determining the net profit u/s 115JB of the Act. The relevant portion of the said order is reproduced below: “In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made without r…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1463/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…r section 14A of the Act in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. 86.3 However, we note that in the recent judgment of Special Bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 82 Taxmann.com 415 has held that the disallowances made u/s 14A r.w.r. 8D cannot be the subject matter of disallowances while determining the net profit u/s 115JB of the Act. The relevant portion of the said order is reproduced below: “In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made without r…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Asst. Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1462/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…r section 14A of the Act in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. 86.3 However, we note that in the recent judgment of Special Bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 82 Taxmann.com 415 has held that the disallowances made u/s 14A r.w.r. 8D cannot be the subject matter of disallowances while determining the net profit u/s 115JB of the Act. The relevant portion of the said order is reproduced below: “In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made without r…

The DCIT, Circle-1(1)(1), Ahmedabad vs. M/S. Adani Enterprise Ltd, Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 523/AHD/2020[2016-17]Status: DisposedITAT Ahmedabad17 Aug 2022AY 2016-17

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

For Respondent: Shri Vartik Choksi, A.R
Section 1Section 143(3)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Asstt. Sr.No. ITA No. Name of Appellant Name of Respondent Year M/s Adani Enterprises Ltd., Adani House, Nr. No.285/Ahd/2020 D.C.I.T, Mithakhali Six Roads, & 2013-14 1-2 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.81/Ahd/2020 PAN :AABCA2804L M/s Adani Enterprises Ltd., Adani House, Nr. No.336/Ahd/2020 D.C.I.T, Mithakhali Six Roads, With 3-4 2014-15 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.80/Ahd/2020…

The DCIT Circle-1(1)(1), Ahmedabad vs. M/S. Adani Enterprise Ltd, Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 472/AHD/2020[2015-16]Status: DisposedITAT Ahmedabad17 Aug 2022AY 2015-16

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

For Respondent: Shri Vartik Choksi, A.R
Section 1Section 143(3)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Asstt. Sr.No. ITA No. Name of Appellant Name of Respondent Year M/s Adani Enterprises Ltd., Adani House, Nr. No.285/Ahd/2020 D.C.I.T, Mithakhali Six Roads, & 2013-14 1-2 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.81/Ahd/2020 PAN :AABCA2804L M/s Adani Enterprises Ltd., Adani House, Nr. No.336/Ahd/2020 D.C.I.T, Mithakhali Six Roads, With 3-4 2014-15 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.80/Ahd/2020…

DCIT, Circle-1(1)(1), Ahmedabad vs. Adani Enterprises Ltd., Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 336/AHD/2020[2014-15]Status: DisposedITAT Ahmedabad17 Aug 2022AY 2014-15

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

For Respondent: Shri Vartik Choksi, A.R
Section 1Section 143(3)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Asstt. Sr.No. ITA No. Name of Appellant Name of Respondent Year M/s Adani Enterprises Ltd., Adani House, Nr. No.285/Ahd/2020 D.C.I.T, Mithakhali Six Roads, & 2013-14 1-2 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.81/Ahd/2020 PAN :AABCA2804L M/s Adani Enterprises Ltd., Adani House, Nr. No.336/Ahd/2020 D.C.I.T, Mithakhali Six Roads, With 3-4 2014-15 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.80/Ahd/2020…

DCIT, Circle-1(1)(1), Ahmedabad vs. Adani Enterprises Ltd., Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 285/AHD/2020[2013-14]Status: DisposedITAT Ahmedabad17 Aug 2022AY 2013-14

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

For Respondent: Shri Vartik Choksi, A.R
Section 1Section 143(3)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Asstt. Sr.No. ITA No. Name of Appellant Name of Respondent Year M/s Adani Enterprises Ltd., Adani House, Nr. No.285/Ahd/2020 D.C.I.T, Mithakhali Six Roads, & 2013-14 1-2 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.81/Ahd/2020 PAN :AABCA2804L M/s Adani Enterprises Ltd., Adani House, Nr. No.336/Ahd/2020 D.C.I.T, Mithakhali Six Roads, With 3-4 2014-15 Circle-1(1)(1), Navrangpura, C.O. Ahmedabad Ahmedabad. No.80/Ahd/2020…

Apl Logistics P.Ltd, Mumbai vs. DCIT 14(1)(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 2917/MUM/2015[2009-10]Status: DisposedITAT Mumbai12 Aug 2022AY 2009-10
Section 14ASection 36(1)(iii)Section 37(1)

…आयकर अपीलीय अिधकरण मुंबई पीठ “ए”, मुंबई "ी जी. एस. प"ू,अ"" एवं "ी िवकास अव"थी, "ाियक सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI G. S. PANNU, PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 4150/मुं/2010 (िन.व. 2006-07) APL Logistics (India) Pvt. Ltd. Trade Plaza, 2nd Floor, 414, Veer Savarkar Marg, Cadeel Road, Prabhadevi, Mumbai-400025. PAN: AACCA9694B ...... अपीलाथ" /Appellant बनाम Vs. Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 ..... "ितवादी/Respondent आअसं. 6471/मुं/2013 (िन.व. 2007-08) Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 .…

Apl Logistics (India) P. Ltd, Mumbai vs. Asst CIT 10(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 6482/MUM/2013[2007-08]Status: DisposedITAT Mumbai12 Aug 2022AY 2007-08
Section 14ASection 36(1)(iii)Section 37(1)

…आयकर अपीलीय अिधकरण मुंबई पीठ “ए”, मुंबई "ी जी. एस. प"ू,अ"" एवं "ी िवकास अव"थी, "ाियक सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI G. S. PANNU, PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 4150/मुं/2010 (िन.व. 2006-07) APL Logistics (India) Pvt. Ltd. Trade Plaza, 2nd Floor, 414, Veer Savarkar Marg, Cadeel Road, Prabhadevi, Mumbai-400025. PAN: AACCA9694B ...... अपीलाथ" /Appellant बनाम Vs. Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 ..... "ितवादी/Respondent आअसं. 6471/मुं/2013 (िन.व. 2007-08) Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 .…

Apl Logistics (India) P.Ltd, Mumbai vs. Asst CIT 10(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 6480/MUM/2013[2008-09]Status: DisposedITAT Mumbai12 Aug 2022AY 2008-09
Section 14ASection 36(1)(iii)Section 37(1)

…आयकर अपीलीय अिधकरण मुंबई पीठ “ए”, मुंबई "ी जी. एस. प"ू,अ"" एवं "ी िवकास अव"थी, "ाियक सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI G. S. PANNU, PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 4150/मुं/2010 (िन.व. 2006-07) APL Logistics (India) Pvt. Ltd. Trade Plaza, 2nd Floor, 414, Veer Savarkar Marg, Cadeel Road, Prabhadevi, Mumbai-400025. PAN: AACCA9694B ...... अपीलाथ" /Appellant बनाम Vs. Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 ..... "ितवादी/Respondent आअसं. 6471/मुं/2013 (िन.व. 2007-08) Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 .…

DCIT 10(1), Mumbai vs. Apl Logistics (India) P. Ltd, Mumbai

In the result, appeal of the assessee is partly allowed

ITA 6473/MUM/2013[2008-09]Status: DisposedITAT Mumbai12 Aug 2022AY 2008-09
Section 14ASection 36(1)(iii)Section 37(1)

…आयकर अपीलीय अिधकरण मुंबई पीठ “ए”, मुंबई "ी जी. एस. प"ू,अ"" एवं "ी िवकास अव"थी, "ाियक सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI G. S. PANNU, PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 4150/मुं/2010 (िन.व. 2006-07) APL Logistics (India) Pvt. Ltd. Trade Plaza, 2nd Floor, 414, Veer Savarkar Marg, Cadeel Road, Prabhadevi, Mumbai-400025. PAN: AACCA9694B ...... अपीलाथ" /Appellant बनाम Vs. Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 ..... "ितवादी/Respondent आअसं. 6471/मुं/2013 (िन.व. 2007-08) Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 .…

DCIT 10(1), Mumbai vs. Apl Logistics (India ) P.Ltd, Mumbai

In the result, appeal of the assessee is partly allowed

ITA 6471/MUM/2013[2007-08]Status: DisposedITAT Mumbai12 Aug 2022AY 2007-08
Section 14ASection 36(1)(iii)Section 37(1)

…आयकर अपीलीय अिधकरण मुंबई पीठ “ए”, मुंबई "ी जी. एस. प"ू,अ"" एवं "ी िवकास अव"थी, "ाियक सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI G. S. PANNU, PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 4150/मुं/2010 (िन.व. 2006-07) APL Logistics (India) Pvt. Ltd. Trade Plaza, 2nd Floor, 414, Veer Savarkar Marg, Cadeel Road, Prabhadevi, Mumbai-400025. PAN: AACCA9694B ...... अपीलाथ" /Appellant बनाम Vs. Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 ..... "ितवादी/Respondent आअसं. 6471/मुं/2013 (िन.व. 2007-08) Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 .…

Apl Logistics (India) P. Ltd, Mumbai vs. ACIT 10(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 4150/MUM/2010[2006-07]Status: DisposedITAT Mumbai12 Aug 2022AY 2006-07
Section 14ASection 36(1)(iii)Section 37(1)

…आयकर अपीलीय अिधकरण मुंबई पीठ “ए”, मुंबई "ी जी. एस. प"ू,अ"" एवं "ी िवकास अव"थी, "ाियक सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI G. S. PANNU, PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 4150/मुं/2010 (िन.व. 2006-07) APL Logistics (India) Pvt. Ltd. Trade Plaza, 2nd Floor, 414, Veer Savarkar Marg, Cadeel Road, Prabhadevi, Mumbai-400025. PAN: AACCA9694B ...... अपीलाथ" /Appellant बनाम Vs. Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 ..... "ितवादी/Respondent आअसं. 6471/मुं/2013 (िन.व. 2007-08) Asst. CIT-10(1), Aayakar Bhavan, M.K. Road, Mumbai-400020 .…

DCIT Central Circle-2(4), Mumbai vs. Zee Entertinment Enterprises Ltd, Mumbai

In the result, the appeal of revenue is partly allowed

ITA 512/MUM/2022[2013-14]Status: DisposedITAT Mumbai05 Aug 2022AY 2013-14

Bench: Shri B. R. Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.512/Mum/2022 (निर्धारण वर्ा / Assessment Years: 2013-14) Dcit, Central Circle-2(4) बिधम/ Zee Entertainment Room No. 802, 8Th Floor, Enterprises Ltd. Vs. 18Th Floor, A Wing, Prathishtha Bhavan, M. K. Road, Churchgate, Mumbai- Marathon Futurex, N. M. 400020. Joshi Marg, Lower Parel, Mumbai-400013. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacz0243R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Jay Bhansali Revenue By: Shri Vinod Tanwani (Dr) सुनवाई की तारीख / Date Of Hearing: 02/08/2022 घोषणा की तारीख /Date Of Pronouncement: 05/08/2022 O R D E R Per Aby T. Varkey, Jm: This Appeal Preferred By The Revenue Against The Action Of The Ld. Commissioner Of Income Tax (Appeals)-58, Mumbai [Hereinafter Referred To As The “Cit(A)”] Dated 05.10.2021 For Assessment Year 2013-14. 2. The Facts In Brief Are That Assessee Filed The Return Of Income On 23.11.2013 Declaring An Income Of Rs.9,53,02,05,770/- Which Was Revised To Rs.9,53,45,48,223/- On 31.03.2015. The Case Of The Assessee Was Selected For Scrutiny. During The Course Of Assessment Proceedings, The Ao Noticed That The Assessee Has Entered Into International Transactions With Its Aes (Associated Enterprises) M/S. Taj Tv & Therefore A Reference Was Made Under Section 92Ca(1) Of The Act Dated 23.03.2015 To Transfer Pricing Officer-4(2), Mumbai. The Assessee Is In The Business Of Broadcasting Of Satellite Television Channels, Space Selling Agent For Other Television Channels, Sale Of Television Programmes, Films, Movies Etc. The Ao Finally Framed The Assessment Under Section 143(3) Read With Section 144C (13) Of The Act By Making Two Additions

For Appellant: Shri Jay BhansaliFor Respondent: Shri Vinod Tanwani (DR)
Section 143(3)Section 144CSection 14ASection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI B. R. BASKARAN, AM AND SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. No.512/Mum/2022 (निर्धारण वर्ा / Assessment Years: 2013-14) DCIT, Central Circle-2(4) बिधम/ Zee Entertainment Room No. 802, 8th Floor, Enterprises Ltd. Vs. 18th Floor, A Wing, Prathishtha Bhavan, M. K. Road, Churchgate, Mumbai- Marathon Futurex, N. M. 400020. Joshi Marg, Lower Parel, Mumbai-400013. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAACZ0243R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri Jay Bhansali Revenue by: Shri Vinod Tanwani (DR) सुनवाई की तारी…

Welspun Steel Ltd. (Successor in Interest to Welspun Energy Pvt. Ltd.), Mumbai vs. ITO 8(3)(2), Mumbai

ITA 2786/MUM/2018[2014-15]Status: DisposedITAT Mumbai02 Aug 2022AY 2014-15
For Appellant: Shri Rajiv KhandelwalFor Respondent: Shri Hoshang B. Irani
Section 1Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL "G" BENCH, MUMBAI SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Deputy Commissioner of Income Tax, Central Range-3, Mumbai, Room No. 1923, 19th Floor, Air India Building, Nariman Point, Mumbai - 400021 ……………… Appellant Vs M/s Welspun Energy P Ltd., 7th Floor, Welspun House, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai - 400013 [PAN: AAACW2876K] …………… Respondent M/s Welspun Steel Ltd. (Successor in interest to Welspun Energy Pvt. Ltd.), 7th Floor, Welspun House, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400013 [P…

The DCIT, (OSD), Circle-8, Ahmedabad vs. M/S. Vishal Exports Overseas Ltd., Ahmedabad

In the result, the appeal of the Revenue is partly allowed

ITA 1821/AHD/2014[2006-07]Status: DisposedITAT Ahmedabad29 Jul 2022AY 2006-07

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Shri Alok Kumar, CIT. D.R
Section 115JSection 14ASection 32(1)(iia)

…e have heard the rival contentions of both the parties and perused the materials available on record. At the outset, we note that in the recent judgment of Special Bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 82 Taxmann.com 415 has held that the disallowances made u/s 14A r.w.r. 8D cannot be the subject matter of disallowances while determining the net profit u/s 115JB of the Act. The relevant portion of the said order is reproduced below: ITA No. 1821/Ahd/2014 [DCIT vs. M/s. Vishal Export Overseas Ltd.] A.Y. 2006-07 - 8 - “In view of above discussion, the compu…

Poonawalla Shares & Securities Pvt.Ltd, Pune vs. Assistant Commissioner of Wealth-Tax, Circle-4, Pune

Appeal is partly allowed in above terms

ITA 380/PUN/2020[2016/17]Status: DisposedITAT Pune29 Jul 2022

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

Section 143(3)Section 14A

….आयकर अपीलीय अिधकरण “बी” "ायपीठ पुणे म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकर अपीलसं. / ITA No.380/PUN/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 PAN: AAACP 6087 H Appellant/ Assessee Respondent /Revenue Assessee by Shri Percy Pardiwala – AR Revenue by Shri M.G.Jasnani – DR Date of hearing 08/07/2022 Date of pronouncement 29/07/2022 आदेश/ ORDER Per S.S.…