How many judgments cite ACIT v. Vireet Investment Pvt. Ltd.?

789 judgments on BharatTax cite ACIT v. Vireet Investment Pvt. Ltd. (82 Taxmann.com 415), spanning 2017 to 2026.

Which sections of the Income Tax Act does ACIT v. Vireet Investment Pvt. Ltd. come up under?

It is most often cited in judgments turning on Section 14A, Section 115JB, Section 143(3), Section 8D, Section 250, Section 37(1).

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 14A Section 115JB Section 143(3)Section 8D Section 250 Section 37(1)Section 154 Section 10(34)

Issues it is cited on

section 115jb(2)disallowance of interest expenditure book profits section 14a(2)disallowance under section 14a section 115j disallowance u/s 14a section 115jb section 14a section 92b transfer pricing adjustment arm's length price

Judgments citing ACIT v. Vireet Investment Pvt. Ltd.

Continental Device India P.Ltd, New Delhi vs. DCIT, Circle-6(2), New Delhi

Accordingly, the appeal filed by the assessee is allowed

ITA 8314/DEL/2019[2016-17]Status: DisposedITAT Delhi09 Mar 2022AY 2016-17

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Pradeep Dinodia, AdvocateFor Respondent: Shri Rajesh Kumar Dhanesta, Senior DR

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘B’ : NEW DELHI) BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER and DR. B.R.R. KUMAR, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCE) ITA No.8314/Del./2019 (ASSESSMENT YEAR : 2016-17) M/s. Continental Device India P. Ltd., vs. DCIT, Circle 6 (2), C – 120, Naraina Industrial Area, Phase-I, New Delhi. New Delhi – 110 028. (PAN : AAACC1853E) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Pradeep Dinodia, Advocate REVENUE BY : Shri Rajesh Kumar Dhanesta, Senior DR Date of Hearing : 09.03.2022 Date of Order : 09.03.2022 O R D E R PER AMIT SHUKLA, JM : The aforesaid appea…

Kotak Mahindra Asset Management Co. Ltd., Mumbai vs. Dy CIT -Circle-14(2)(1), Mumbai

In the result, the appeal filed by the assessee is hereby allowed accordingly

ITA 1074/MUM/2021[2017-18]Status: DisposedITAT Mumbai02 Mar 2022AY 2017-18

Bench: Shri S. Rifaur Rahman, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 1074/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) Kotak Mahindra Asset बिधम/ Dcit, Circle-14(2)(1) Management Co. Ltd. Aayakar Bhavan, Mumbai- Vs. 27 Bkc, Bandra Kurla 400020. Complex, Bandra East, Mumbai-400051. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaack5576C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Farrokh Irani Revenue By: Shri Shambu Yadav (Dr) सुनवाई की तारीख / Date Of Hearing: 13/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 15.04.2021 Passed By The National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As The “(Nfac)”] In The Relevant A.Y.2017-18. 2. The Assessee Has Raised The Following Grounds: - “1. The Commissioner Of Income Tax Appeal, National Faceless Appeal Centre (Nfac) (Hereinafter Referred To As The Cit(A)) Erred In Confirming The Disallowance Made By The Dy Commissioner Of Income Tax, Circle 14{2) 1 Amounting To Rs.29,07,525 Under Section 14A By Invoking The Provisions Of Rule 8D(2)(Ii).

For Appellant: Shri Farrokh IraniFor Respondent: Shri Shambu Yadav (DR)

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No. 1074/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2017-18) Kotak Mahindra Asset बिधम/ DCIT, Circle-14(2)(1) Management Co. Ltd. Aayakar Bhavan, Mumbai- Vs. 27 BKC, Bandra Kurla 400020. Complex, Bandra East, Mumbai-400051. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACK5576C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee by: Shri Farrokh Irani Revenue by: Shri Shambu Yadav (DR) सुनवाई की तारीख / Date of Hearing: 13/01/2022 घोषणा की तारीख /Date of Pronouncement: 02/03…

The DCIT, Kochi vs. M/S.Sfo Technologies P. Ltd, Aluva

In the result, this appeal filed by Revenue in ITA

ITA 404/COCH/2020[2016-17]Status: DisposedITAT Cochin24 Feb 2022AY 2016-17

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Anil D. Nair& Smt. Telma

Section 143(3)Section 14ASection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George Mathan, JM & Shri Ramit Kochar, AM ITA No. A.Y. Appellant Respondent 400/Coch/2020 2010-11 M/s.SFO Technologies Pvt. Ltd., Deputy Commissioner 401/Coch/2020 2012-13 XIX/346, Stone House, of Income Tax, Corporate Circle-2(1), Aluva, 402/Coch/2020 2013-14 Ernakulam-683101 3rd Floor, C R Building I.S. Press Road, Kochi- 403/Coch/2020 2014-15 [PAN: AADCS3318K] 682018 404/Coch/2020 2016-17 Appellant by: Smt. Jamunna Devi, Sr.DR Respondent by: Shri Anil D. Nair& Smt. Telma Date of Hearing: 22.02.2022& 24.02.2022 Date of Pronouncement: 24.0…

The DCIT, Kochi vs. M/S.Sfo Technologies P. Ltd, Aluva

In the result, this appeal filed by Revenue in ITA

ITA 403/COCH/2020[2014-15]Status: DisposedITAT Cochin24 Feb 2022AY 2014-15

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Anil D. Nair& Smt. Telma

Section 143(3)Section 14ASection 92C

The DCIT, Kochi vs. M/S.Sfo Technologies P. Ltd, Aluva

In the result, this appeal filed by Revenue in ITA

ITA 402/COCH/2020[2013-14]Status: DisposedITAT Cochin24 Feb 2022AY 2013-14

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Anil D. Nair& Smt. Telma

Section 143(3)Section 14ASection 92C

The DCIT, Kochi vs. M/S.Sfo Technologies P. Ltd, Ernakulam

In the result, this appeal filed by Revenue in ITA

ITA 401/COCH/2020[2012-13]Status: DisposedITAT Cochin24 Feb 2022AY 2012-13

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Anil D. Nair& Smt. Telma

Section 143(3)Section 14ASection 92C

The DCIT, Kochi vs. M/S.Sfo Technologies P. Ltd, Aluva

In the result, this appeal filed by Revenue in ITA

ITA 400/COCH/2020[2010-11]Status: DisposedITAT Cochin24 Feb 2022AY 2010-11

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Anil D. Nair& Smt. Telma

Section 143(3)Section 14ASection 92C

Torrent Pharmaceuticals Ltd., Ahmedabad vs. The Deputy Commissioner of Income Tax (OSD) Circle-8, Ahmedabad

In the result appeal of the Revenue is partly allowed

ITA 1285/AHD/2017[2009-10]Status: DisposedITAT Ahmedabad22 Feb 2022AY 2009-10

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.1285 & 1286/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2009-10 & 2010-11 & Ita No.1396 & 1397/Ahd/2018 Asstt.Year 2011-12 & 2012-13 Torrent Pharmaceuticals Ltd. Acit, Circle-4(1)(2) Torrent House Ahmedabad. Vs. Off.Ashram Road Ahmedabad 380 009. आयकर अपील सं./Ita.No.1327 & 1328/Ahd/2017 िनधा"रण वष"/ Asstt. Year: 2009-10 & 2010-11 & आयकर अपील सं./Ita.No.1414 & 1415/Ahd/2018 िनधा"रण वष"/ Asstt. Year: 2011-12 & 2012-13 Acit, Circle-4(1)(2) Torrent Pharmaceuticals Ltd. Ahmedabad. Torrent House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee By : Shri Vartik Choksi, With Shri Biren Shah, Ars. Revenue By : Shri Mohd. Usman, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 23/11/2021 घोषणा क" तारीख /Date Of Pronouncement: 22/02/2022 आदेश/O R D E R Per Bench

For Appellant: Shri Vartik Choksi, With Shri Biren Shah, ARsFor Respondent: Shri Mohd. Usman, CIT-DR

Section 139(1)Section 143(3)Section 35Section 80Section 92C

…le for Rs. 91,72,392/- in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. 248.1. 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, it has been held that the disallowance made u/s 14A r.w.r. 8D cannot be the subject matter of disallowances while determining the book 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 w…

Rajeev S Reniwal, Mumbai vs. ITO Circle- 3(2)(3), Mumbai

In the result, this appeal by the assessee stands partly allowed for statistical purpose

ITA 726/MUM/2020[2013-14]Status: DisposedITAT Mumbai14 Feb 2022AY 2013-14

Bench: Shri Shamim Yahya

Section 14ASection 24

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” Bench, Mumbai Before Shri Shamim Yahya, Accountant Member I.T.A. No. 726/Mum/2020 (Assessment Year 2013-14) Vs. ITO,Circle-3(2)(3) Rajeev S Reniwal 156, Maker Chamber VI Room No.673/674 220, Jamnalal Bajaj Marg 6th Floor Nariman Point Aaykar Bhawan Mumbai-400 021 M.K.Road Mumbai-400 020 PAN : ADMPR3334D (Appellant) (Respondent) None Assessee by Department by Shri Abhirama Karthikeyan Date of Hearing 15.12.2021 Date of Pronouncement 14.02.2022 O R D E R Per Shri Shamim Yahya (AM) :- This appeal by the assessee is directed against the order of learned Commissioner…

Shri Avinash Nivrutti Bhosale, Pune vs. Dy CIT-CC-2(3), Mumbai

In the result, ITA No. 860/Mum/2021 filed by the assessee for AY 2017-18 is allowed

ITA 858/MUM/2021[2016-17]Status: DisposedITAT Mumbai23 Dec 2021AY 2016-17

Bench: Ms. Suchitra Raghunath Kamble & Shri Prashant Maharishi

For Appellant: Sh. Anuj kisnadwala, ARFor Respondent: Ms. Surbhi Sharma, CIT-DR

Section 132Section 14ASection 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE MS. SUCHITRA RAGHUNATH KAMBLE, JUDICIAL MEMBER & SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA NO. 860/MUM/2021 (A.Y. 2017-18) Shri. Avinash Nivrutti Bhosale, 2, ABIL House, Ganesh Khind Road, Range Hill Corner, Pune-411007 PAN: ABTPB8151F ............ Appellant Vs. The Deputy Commissioner of Income tax , CC-2(3), 8th Floor, Room No. 803, Old CGO Annexe Building, Pratistha Bhavan, M.K. Road, Mumbai-400020 ............ Respondent Appellant by : Sh. Anuj kisnadwala, AR Respondent by : Ms. Surbhi Sharma, CIT-DR Date of hearing : 15/12/2021…

Deepak Nagindas Shah, Mumbai vs. ACIT Circle-19 (1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 7032/MUM/2019[2014-15]Status: DisposedITAT Mumbai22 Dec 2021AY 2014-15

Bench: Shri Om Prakash Kant & Shri Amarjit Singhassessment Year: 2014-15 Deepak Nagindas Shah, Acit, Circle – 19(1), 506-B, Walkeshwar Chandanwala 2Nd Floor, Matru Mandir, Chs Ltd. 4, R. R. Thakkar Road, Tardeo Road, Walkeshwar, Vs. Mumbai - 400007 Mumbai - 400006 Pan: Aaqps1861H (Appellant) (Respondent) Assessee By : Mr. Suchek Anchaliya (Ar) Revenue By : Ms. Rajni Roy (Dr) Date Of Hearing : 02/12/2021 Date Of Pronouncement: 22/12/2021

For Appellant: Mr. Suchek Anchaliya (AR)For Respondent: Ms. Rajni Roy (DR)

Section 10Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “SMC”, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year: 2014-15 Deepak Nagindas Shah, ACIT, Circle – 19(1), 506-B, Walkeshwar Chandanwala 2nd Floor, Matru Mandir, CHS Ltd. 4, r. R. Thakkar Road, Tardeo Road, Walkeshwar, Vs. Mumbai - 400007 Mumbai - 400006 PAN: AAQPS1861H (Appellant) (Respondent) Assessee by : Mr. Suchek Anchaliya (AR) Revenue by : Ms. Rajni Roy (DR) Date of Hearing : 02/12/2021 Date of Pronouncement: 22/12/2021 O R D E R PER OM PRAKASH KANT, AM This appeal by the assessee is direc…

Cadila Healthcare Ltd., Ahmedabad vs. The DCIT, Circle-1(1)(2), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 1660/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad20 Dec 2021AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1660/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2011-12 Cadila Healthcare Ltd., D.C.I.T., Zydus Corporate Park, Vs. Circle-1(1)(2), Plot No.103, Ahmedabad. Nr. Nirma University, Mouje-Khoraj, S.G. Highway, Ahmedabad.

For Appellant: Shri Mukesh Patel, A.RFor Respondent: Shri Mohd. Usman, C.I.T..D.R

Section 115Section 115JSection 14Section 143(3)Section 14ASection 154

…ade under section 14A r.w.r. 8D in determining the normal computation of income cannot be imported while computing the book profit under section 115 JB of the Act. For example, the 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 book 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…

Continental Device India Ltd., New Delhi vs. ACIT, Circle- 6(2), New Delhi

In the result, appeal of the assessee is allowed in part and for statistical purpose

ITA 4719/DEL/2017[2013-14]Status: DisposedITAT Delhi09 Dec 2021AY 2013-14

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2013-14

For Appellant: Sh. R.K. Kapoor, CAFor Respondent: Sh. Anil Gandhi, Sr. DR

Section 115Section 115JSection 143(3)Section 14ASection 36Section 50C

…stment which yielded exempt income. We therefore, restore the issue to the file of the learned Assessing Officer to consider only such investments which yielded the tax free income, but not the entire investments. Further in Vireet Investments Private Limited 165 ITR 27, it is held by the Special Bench of the Tribunal that the disallowance made under section 14A of the Act read with Rule 8D of the Rules cannot be considered for the purpose of enhancing the book profits under section 115JB of the Act. Learned Assessing Officer will take note of it. Accordingly, ground No. 1 is allowed and ground No. 2 is allowed f…

Torrent Power Ltd., Ahmedabad vs. The ACIT., Range-8, Ahmedabad

In the result cross objection filed by the assessee is partly allowed for statistical purposes

ITA 776/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad08 Dec 2021AY 2008-09

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Shri Vinod Tanwani, CIT.D.R

Section 143(3)Section 254

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sl. ITA No(s) Asset. Appeal(s) by No(s) Year(s) Appellant vs. Respondent Appellant Respondent 1. 1577/Ahd/2015 2006-07 Torrent Power Limited, D.C.I.T.,(OSD) Torrent House, Nr. Circle-8, Dinesh Hall, Off Ashram Ahmedabad. Road, Ahmedabad-380009. PAN: AACCT0294J 2. 776/Ahd/2012 2008-09 Torrent Power Limited, A.C.I.T., Ahmedabad. Range-8, Ahmedabad. PAN: AACCT0294J 3. 738/Ahd/2012 2008-09…

Metmin Investment and Trading P. Ltd., Mumbai vs. ACIT-3(2)(1), Mumbai

In the result, appeal of the assessee is partly allowed as indicated above

ITA 1444/MUM/2020[2016-17]Status: DisposedITAT Mumbai05 Nov 2021AY 2016-17

Bench: Shri Mahavir Singh: A.Y : 2016-17 Metmin Investment & Trading Vs. Asstt. Commissioner Of Income Private Limited Tax – 3(2)(1), Mumbai. 161/162, Mittal Court, A Wing, 16Th (Respondent) Floor, Nariman Point, Mumbai 400 021. Pan : Aaccm2480P (Appellant)

For Appellant: Ms. Shruti AgarwalFor Respondent: Shri Vivek Perampurna

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT : A.Y : 2016-17 Metmin Investment and Trading Vs. Asstt. Commissioner of Income Private Limited Tax – 3(2)(1), Mumbai. 161/162, Mittal Court, A Wing, 16th (Respondent) floor, Nariman Point, Mumbai 400 021. PAN : AACCM2480P (Appellant) Appellant by : Ms. Shruti Agarwal Respondent by : Shri Vivek Perampurna Date of Hearing : 28/10/2021 Date of Pronouncement : 05/11/2021 O R D E R This appeal by the assessee is arising out of the order of Commissioner of Income Tax (Appeals)-8, Mumbai (in short ‘CIT(A)’) in…

Dcm Shriiram Ltd., New Delhi vs. Addl.CIT, Special Range- 3, New Delhi

In the result appeal of assessee is partly allowed

ITA 7362/DEL/2018[2014-15]Status: DisposedITAT Delhi28 Oct 2021AY 2014-15

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

For Appellant: Shri Pradeep Dinodia, C. A.; &For Respondent: Shri Surendra Pal [CIT] – DR

Section 133(6)Section 143Section 143(3)Section 144Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL [DELHI BENCH “I–1”: NEW DELHI] BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (Through Video Conferencing) ITA. No. 7362/Del/2018 (Assessment Year: 2014-15) DCM Shriram Ltd., Addl. CIT, 1st Floor, Kanchanjunga Bldg., Special Range – 3, Vs. 18 – Barakhamba Road, New Delhi. New Delhi – 110 001. PAN: AAACD0097R (Appellant) (Respondent) Assessee by : Shri Pradeep Dinodia, C. A.; & Shri R. K. Kapoor, C. A.; Department by : Shri Surendra Pal [CIT] – DR; Date of Hearing : 02/09/2021 Date of pronouncement : 28/10/2021 O R D E R PER PRASHANT…

ACIT 1 (1)(1), Mumbai vs. M/S Cyrus Investment Pvt Ltd., Mumbai

Appeal is allowed, revenue’s appeal and assessee’s cross objection are dismissed

ITA 111/MUM/2020[2015-16]Status: DisposedITAT Mumbai12 Oct 2021AY 2015-16

Bench: Shri Saktijit Dey () & Shri Rajesh Kumar ()

…1 ITA 7853/Mum/2019 111/Mum/2020 CO 80/Mum/2021 IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI RAJESH KUMAR (ACCOUNTANT MEMBER) I.T.A. No.111/Mum/2020 (Assessment year 2015-16) ACIT-1(1)(1), Mumbai vs M/s Cyrus Investments Pvt Ltd 2nd Floor, Esplanade House Hazarimal Somani Marg, For Mumbai-400 023 PAN : AAACC2880P APPELLANT RESPONDENT I.T.A. No.7853/Mum/2019 (Assessment year 2015-16) M/s Cyrus Investments Pvt Ltd vs Dy.CIT, Range 1(1), Mumbai 2nd Floor, Esplanade House Hazarimal Somani Marg, For Mumbai-400 023 PAN : AAACC2880P APPELLANT RESPONDENT…

Cyrus Investments Pvt Ltd., Mumbai vs. Dy CIT RG. 1 (1)(1), Mumbai

Appeal is allowed, revenue’s appeal and assessee’s cross objection are dismissed

ITA 7853/MUM/2019[2015-16]Status: DisposedITAT Mumbai12 Oct 2021AY 2015-16

Bench: Shri Saktijit Dey () & Shri Rajesh Kumar ()

Shivnarayan Nemani Shares & Stock Brokers P. Ltd., Mumbai vs. D.C.I.T. Circle 4(2), Mumbai

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 2522/MUM/2012[2008-09]Status: DisposedITAT Mumbai08 Oct 2021AY 2008-09

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm (Hearing Through Video Conferencing Mode) आयकर अपील सं/ I.T.A. No. 2522/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S. Shivnarayan Nemani बिधम/ Dcit, Circle-4(2) Shares & Stock Brokers P. Mumbai Vs. Ltd. 9/43, Bhupen Chambers, 2Nd Floor, Dalal Street Mumbai- 400023. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs3296C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mayank Chauhan (Ar) Revenue By: Shri Rohit Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 07/09/2021 घोषणा की तारीख /Date Of Pronouncement: 08/10/2021 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 20.01.2012 Passed By The Commissioner Of Income Tax (Appeals)-09, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2008-09. 2. The Assessee Has Raised The Following Grounds: - “1(A). On The Facts & In The Circumstances Of The Case & In Law, The Learned Commissioner Of Income-Tax(Appeals) Erred In Confirming The Disallowance Of Additional Amount Of Rs.2,98,258/- Under The Provisions Of Section 14A R.W.R. 8D Of The Income Tax Rules

For Appellant: Shri Mayank Chauhan (AR)For Respondent: Shri Rohit Kumar (DR)

Section 14ASection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI M. BALAGANESH, AM AND SHRI AMARJIT SINGH, JM (Hearing through Video Conferencing Mode) आयकर अपील सं/ I.T.A. No. 2522/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/s. Shivnarayan Nemani बिधम/ DCIT, Circle-4(2) Shares & Stock Brokers P. Mumbai Vs. Ltd. 9/43, Bhupen Chambers, 2nd Floor, Dalal Street Mumbai- 400023. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AADCS3296C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee by: Shri Mayank Chauhan (AR) Revenue by: Shri Rohit Kumar (DR) सुनवाई की तारीख / Date of Hearing: 07/09/2021 घोषणा की त…

M/S. Matheson Bosanquet Enterprises Private Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 4(1)(2), Bengaluru

In the result the appeal filed by assessee stands allowed for statistical purposes

ITA 1908/BANG/2019[2016-17]Status: DisposedITAT Bangalore08 Oct 2021AY 2016-17

Bench: Shri B.R. Baskaran & Smt Beena Pillaiita. No. 1908/Bang/2019 Assessment Year: 2016-17 M/S. Matheson Bosanquet The Assistant Enterprises Pvt. Ltd., Commissioner Of Income No. 26/1, Sua House, Tax, Kasturba Cross Road, Circle 4 (1) (2), Bangalore – 560 001. Vs. Bengaluru. Pan: Aabcm9747J (Appellant) (Respondent) For Assessee: Smt. Jinita Chaterjee, Advocate For Revenue : Shri Priyadarshi Mishra, Addl. Cit (Dr) Date Of Hearing : 30.08.2021 Date Of Pronouncement : 08.10.2021 Order Per Beena Pillai, Jm. Present Appeal Has Been Filed By Assessee Against Order Dated 11/07/2019 Passed By The Ld.Cit(A)-4, Bangalore For Assessment Year 2016-17 On Following Grounds Of Appeal: Tax Effect Relating To Each Ground Of Grounds Of Appeal Appeal (See Note Below) The Assessing Officer Erred In Computing The Disallowance Of Rs.9,68,872/- Uls 14A Of The Income Tax Act Read With Rule 8D(2)(I) 1. Rs. 2,99,381/- ,8D(2)(Ii) & 8D2(Iii) The Assessing Officer While Apportioning The Interest Expenditure Ought To Have Observed That The Investments

For Appellant: Smt. Jinita Chaterjee, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl

Section 143(2)Section 14A

…) and 8D(2)(iii) of the Act. The contention of the ld. AR is that the interest cost has to be considered as Rs.2,00,54,050. He relied on the following judgments :- (i) DCIT vs. Microlabs bracket (2015) 62 Taxmann.com 60 (ii) ACIT Vs. Vireet Investments (2017) 82 Taxmann.com 415 (Del.-SB) 6.2. On the contrary the Ld.Sr.DR relied on orders passed by authorities below. 6.3. We have perused submissions advanced by both sides in light of records placed before us. 6.4. It is submitted by the Ld.AR that assessee had sufficient funds in the form of share capital and reserve and surplus in order to make investments. Furth…