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.

M/S. Kei Industries Ltd., New Delhi vs. DCIT, New Delhi

In the result, Ground No.3

ITA 528/DEL/2016[2012-13]Status: DisposedITAT Delhi03 Dec 2020AY 2012-13

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

For Appellant: Shri Satyan Sethi, AdvocateFor Respondent: Ms. Parul Singh, Sr. D.R

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “C” : DELHI BEFORE SHRI BHAVNESH SAINI, J.M. & SHRI ANIL CHATURVEDI, A.M. ITA.No.1433/Del./2014 - Assessment Year 2009-2010 The ACIT, Circle-5(1), M/s. K.E.I. Industries Room No.317-B, Limited, D-90, Okhla C.R. Building, vs Industrial Area, Phase-I, New New Delhi-2. Delhi. PAN AAACK0251C (Appellant) (Respondent) C.O.No.200/Del./2017 Arising out of ITA.No.1433/Del./2014 - Assessment Year 2009-2010 M/s. K.E.I. Industries The ACIT, Circle-5(1), Limited, D-90, Okhla Room No.317-B, Industrial Area, Phase-I, vs C.R. Building, New Delhi. New Delhi-2. PAN AAACK0251C (Cro…

ACIT, New Delhi vs. M/S. K.E.I. Industries Ltd., New Delhi

In the result, Ground No.3

ITA 1433/DEL/2014[2009-10]Status: DisposedITAT Delhi03 Dec 2020AY 2009-10

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

For Appellant: Shri Satyan Sethi, AdvocateFor Respondent: Ms. Parul Singh, Sr. D.R

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “C” : DELHI BEFORE SHRI BHAVNESH SAINI, J.M. & SHRI ANIL CHATURVEDI, A.M. ITA.No.1433/Del./2014 - Assessment Year 2009-2010 The ACIT, Circle-5(1), M/s. K.E.I. Industries Room No.317-B, Limited, D-90, Okhla C.R. Building, vs Industrial Area, Phase-I, New New Delhi-2. Delhi. PAN AAACK0251C (Appellant) (Respondent) C.O.No.200/Del./2017 Arising out of ITA.No.1433/Del./2014 - Assessment Year 2009-2010 M/s. K.E.I. Industries The ACIT, Circle-5(1), Limited, D-90, Okhla Room No.317-B, Industrial Area, Phase-I, vs C.R. Building, New Delhi. New Delhi-2. PAN AAACK0251C (Cro…

DCIT, Corporate Circle- 1(2), Bhubaneswar vs. M/S. National Aluminium Company Ltd., Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 65/CTK/2020[2016-17]Status: DisposedITAT Cuttack27 Oct 2020AY 2016-17

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

National Aluminium Company Limited, Bhubaneswar vs. ACIT, Corporate Circle- 1(2), Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 1/CTK/2020[2016-17]Status: DisposedITAT Cuttack27 Oct 2020AY 2016-17

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

DCIT, Corporate Circle-1(2), Bhubaneswar vs. National Aluminium Company Limited, Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 69/CTK/2019[2015-16]Status: DisposedITAT Cuttack27 Oct 2020AY 2015-16

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

National Aluminium Company Limited, Bhubaneswar vs. ACIT, Corporate Circle-1(2), Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 39/CTK/2019[2015-16]Status: DisposedITAT Cuttack27 Oct 2020AY 2015-16

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

National Aluminium Company Limited, Bhubaneswar vs. ACIT, Corporate Circle-1(2), Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 338/CTK/2017[2009-10]Status: DisposedITAT Cuttack27 Oct 2020AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

ACIT, Corporate Circle-1(2), Bhubaneswar vs. National Aluminium Company Ltd., Bhubaneswar

In the result, all the appeals of the assessee and Revenue along

ITA 331/CTK/2017[2009-10]Status: DisposedITAT Cuttack27 Oct 2020AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA No.338/CTK/2017 आयकर अऩीऱ सं./ITA No.39/CTK/2019 आयकर अऩीऱ सं./ITA No.01/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. ACIT, Corporate Circle-1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar PAN No. : AAACN 7449 M AND आयकर अऩीऱ सं./ITA No.331/CTK/2017 आयकर अऩीऱ सं./ITA No.69/CTK/2019 आयकर अऩीऱ सं./ITA No.65/CTK/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 20…

Meditab Speciakities Pvt. Ltd., Mumbai vs. DCIT 2(2)(2), Mumbai

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

ITA 950/MUM/2019[2013-14]Status: DisposedITAT Mumbai27 Oct 2020AY 2013-14

Bench: Shri Vikas Awasthy & Shri Rajesh Kumarआअसं. 950/मुं/2019 (िन. व. 2013-14) Meditab Specialities Pvt. Ltd. C-1, Pooja Apartments, Hariyali Estate, Lbs Marg, Vikhroli (W), Mumbai-400083. Pan: Aaacm6124A ...... अपीलाथ- /Appellant बनाम Vs. The Dcit 2(2)(2), 5Th Floor, Aayakar Bhavan, M.M. Marg, Mumbai 400020 ..... .ितवाद"/Respondent

For Appellant: NoneFor Respondent: Shri Vijay Jaiswal (DR)
Section 14A

…आयकर अपीलीय अिधकरण मुंबई पीठ “ड" ” IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI "ी "वकास अव"थी, "याियक सद"य एवं "ी राजेश कुमार , लेखा सद"य के सम$ BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI RAJESH KUMAR, ACCOUNTANT MEMBER आअसं. 950/मुं/2019 (िन. व. 2013-14) Meditab Specialities Pvt. Ltd. C-1, Pooja Apartments, Hariyali Estate, LBS Marg, Vikhroli (W), Mumbai-400083. PAN: AAACM6124A ...... अपीलाथ- /Appellant बनाम Vs. The DCIT 2(2)(2), 5th Floor, Aayakar Bhavan, M.M. Marg, Mumbai 400020 ..... .ितवाद"/Respondent अपीलाथ- 0ारा/ Appellant by : None .ितवाद" 0ारा/Respondent by : Shri Vijay Jaisw…

M/S. Sankalp, Bhubaneswar vs. DCIT, Circle-4(1), Bhubaneswar

In the result, appeals of the assessee are partly allowed

ITA 415/CTK/2018[2015-16]Status: DisposedITAT Cuttack19 Oct 2020AY 2015-16

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2015-16 Assessment Year : 2016-17

For Appellant: Shri Bibek Mohanty, ARFor Respondent: Shri Subhendu Dutta, DR
Section 14(2)Section 143(3)Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER AND LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year : 2015-16 Assessment Year : 2016-17 M/s. Sankalp, Qrs No.-VI-3/1, Vs. DCIT, Circle 4(1), Bhubaneswar unit-III, Bhubaneswar. PAN/GIR No.ABAFS 3436 R (Appellant) .. ( Respondent) Assessee by : Shri Bibek Mohanty, AR Revenue by : Shri Subhendu Dutta, DR Date of Hearing : 09 /09/ 2020 Date of Pronouncement : 21/10/2020 O R D E R Per C.M.Garg,JM Both the appeals filed by the assessee are against the order of the CIT(A)-2, Bhubaneswar dated 20.9.201…

Sky Appliances Ltd, Mumbai vs. ACIT (OSD)-3, Mumbai

In the result, the appeals filed by the Revenue are dismissed, whereas, the appeal filed by the assessee is allowed

ITA 4511/MUM/2018[2012-13]Status: DisposedITAT Mumbai09 Oct 2020AY 2012-13

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11

For Appellant: NoneFor Respondent: Mr. V. Vinod Kumar, DR
Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 Dy. Commissioner of Income Tax Circle- M/s Sky Appliances Ltd., 3(3), Vs. 171-C, Mittal Court, Room No. 609, 6th Floor, Aayakar Bhavan, Nariman Point, Mumbai- M.K. Road, Mumbai-400020. 400021. PAN No. AAICS8688M Appellant Respondent Assessment Year: 2012-13 M/s Sky Appliances Ltd., Asst. Commissioner of Income 171-C, Mittal Court, Nariman Vs. Tax (ODS)-3, Mumbai. Point, Mumbai-400021. P…

DCIT Cir 3(3), Mumbai vs. Sky Appliances Ltd, Mumbai

In the result, the appeals filed by the Revenue are dismissed, whereas, the appeal filed by the assessee is allowed

ITA 4416/MUM/2012[2008-09]Status: DisposedITAT Mumbai09 Oct 2020AY 2008-09

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11

For Appellant: NoneFor Respondent: Mr. V. Vinod Kumar, DR
Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 Dy. Commissioner of Income Tax Circle- M/s Sky Appliances Ltd., 3(3), Vs. 171-C, Mittal Court, Room No. 609, 6th Floor, Aayakar Bhavan, Nariman Point, Mumbai- M.K. Road, Mumbai-400020. 400021. PAN No. AAICS8688M Appellant Respondent Assessment Year: 2012-13 M/s Sky Appliances Ltd., Asst. Commissioner of Income 171-C, Mittal Court, Nariman Vs. Tax (ODS)-3, Mumbai. Point, Mumbai-400021. P…

Ifci Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed partly for statistical purposes

ITA 2982/DEL/2015[2010-11]Status: DisposedITAT Delhi08 Oct 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘G’, NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA No.2982/Del./2015 Assessment Year: 2010-11 IFCI Ltd., Vs. DCIT, IFCI Tower, 61-Nehru Circle-12(1), Place, New Delhi New Delhi PAN :AAACT0668G (Appellant) (Respondent) Appellant by Shri K. Sampath, Adv. Respondent by Shri H.K. Choudhary, CIT(DR) Date of hearing 24.09.2020 Date of pronouncement 08.10.2020 ORDER PER O.P. KANT, AM: This appeal by the assessee is directed against order dated 16/02/2015 passed by the Ld. CIT(Appeals)-15, New Delhi [in short ‘the…

Exlservice.Com (India) Pvt. Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, appeal filed by the learned assessing officer is dismissed

ITA 1708/DEL/2016[2011-12]Status: DisposedITAT Delhi26 Aug 2020AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Dcit(Ltu), Vs. Exl Service.Com (India) Pvt. Circle-1, Ltd, Nbcc Plaza Pusph Vihar, 414, 4Th Floor, Dlf Tower-B, New Delhi Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi Pan: Aaace5174C (Appellant) (Respondent) Exl Service.Com (India) Pvt. Ltd, Vs. Dcit(Ltu), 414, 4Th Floor, Dlf Tower-B, Plot Circle-1, No. 10 & 11, Dda District Nbcc Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi Pan: Aaace5174C (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surendra Pal, CIT DR
Section 143(3)Section 144CSection 92D

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I-1”: NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCING) DCIT(LTU), Vs. EXL Service.com (India) Pvt. Circle-1, Ltd, NBCC Plaza Pusph Vihar, 414, 4th Floor, DLF Tower-B, New Delhi Plot No. 10 & 11, DDA District Centre, Jasola, New Delhi PAN: AAACE5174C (Appellant) (Respondent) EXL Service.com (India) Pvt. Ltd, Vs. DCIT(LTU), 414, 4th Floor, DLF Tower-B, Plot Circle-1, No. 10 & 11, DDA District NBCC Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi PAN: AAACE5174C (Appellant) (Respondent) Ass…

DCIT (Ltu), New Delhi vs. M/S. Exl Service.Com (India) Pvt. Ltd., New Delhi

In the result, appeal filed by the learned assessing officer is dismissed

ITA 1482/DEL/2016[2011-12]Status: DisposedITAT Delhi26 Aug 2020AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Dcit(Ltu), Vs. Exl Service.Com (India) Pvt. Circle-1, Ltd, Nbcc Plaza Pusph Vihar, 414, 4Th Floor, Dlf Tower-B, New Delhi Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi Pan: Aaace5174C (Appellant) (Respondent) Exl Service.Com (India) Pvt. Ltd, Vs. Dcit(Ltu), 414, 4Th Floor, Dlf Tower-B, Plot Circle-1, No. 10 & 11, Dda District Nbcc Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi Pan: Aaace5174C (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surendra Pal, CIT DR
Section 143(3)Section 144CSection 92D

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I-1”: NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCING) DCIT(LTU), Vs. EXL Service.com (India) Pvt. Circle-1, Ltd, NBCC Plaza Pusph Vihar, 414, 4th Floor, DLF Tower-B, New Delhi Plot No. 10 & 11, DDA District Centre, Jasola, New Delhi PAN: AAACE5174C (Appellant) (Respondent) EXL Service.com (India) Pvt. Ltd, Vs. DCIT(LTU), 414, 4th Floor, DLF Tower-B, Plot Circle-1, No. 10 & 11, DDA District NBCC Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi PAN: AAACE5174C (Appellant) (Respondent) Ass…

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

In the result, the CO. of the assessee is partly allowed

ITA 1761/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad19 Aug 2020AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1761/Ahd/2016 With C.O. No.133/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T., Adani Wilmar Ltd., Circle-1(1)(1), Vs. “Fortune House”, Ahmedabad. Near Adani House Mithakali Cross Roads, Navrangpura, Ahmedabad Pan: Aabca8056G

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, &For Respondent: Shri Vinod Tanwani, Sr. D.R
Section 10(34)Section 14ASection 41(1)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 1761/AHD/2016 With C.O. No.133/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T., Adani Wilmar Ltd., Circle-1(1)(1), Vs. “Fortune House”, Ahmedabad. Near Adani House Mithakali Cross Roads, Navrangpura, Ahmedabad PAN: AABCA8056G (Applicant) (Respondent) Revenue by : Shri Vinod Tanwani, Sr. D.R Assessee by : Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, &…

Gujarat Mineral Development Corporation Ltd., Ahmedabad vs. The ACIT, Circle-2(1)(1), Ahmedabad

In the result, both appeals filed by the assessee are allowed for statistical purposes

ITA 2278/AHD/2018[2015-16]Status: DisposedITAT Ahmedabad28 Jul 2020AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Advocate & Shri ParinFor Respondent: Shri Vinod Tanwani, Sr.D.R
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD (CONDUCTING THROUGH VIRTUAL COURT) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER ITA Nos.2277&2278/Ahd/2018 (Assessment Years: 2014-15 & 2015-16) Gujarat Mineral Development Vs. Asst. CIT Corporation Ltd. Circle-2(1)(1), Khanji Bhavan, 132ft. Ring Ahmedabad Road, University Ground, Ahmedabad-380052 [PAN No. AAA CG7 987 P] (Appellant) .. (Respondent) Appellant by : Shri S. N. Soparkar, Sr. Advocate & Shri Parin Shah, A.R. Respondent by: Shri Vinod Tanwani, Sr.D.R. Date of Hearing: 21/07/2020 Date of Pronouncement: 28/07/…

Gujarat Mineral Development Corporation Ltd., Ahmedabad vs. The ACIT, Circle-2(1)(1), Ahmedabad

In the result, both appeals filed by the assessee are allowed for statistical purposes

ITA 2277/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad28 Jul 2020AY 2014-15

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Advocate & Shri ParinFor Respondent: Shri Vinod Tanwani, Sr.D.R
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD (CONDUCTING THROUGH VIRTUAL COURT) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER ITA Nos.2277&2278/Ahd/2018 (Assessment Years: 2014-15 & 2015-16) Gujarat Mineral Development Vs. Asst. CIT Corporation Ltd. Circle-2(1)(1), Khanji Bhavan, 132ft. Ring Ahmedabad Road, University Ground, Ahmedabad-380052 [PAN No. AAA CG7 987 P] (Appellant) .. (Respondent) Appellant by : Shri S. N. Soparkar, Sr. Advocate & Shri Parin Shah, A.R. Respondent by: Shri Vinod Tanwani, Sr.D.R. Date of Hearing: 21/07/2020 Date of Pronouncement: 28/07/…

J. B. Boda Reinsurance Brokers Pvt. Ltd., Mumbai vs. ACIT - 1(2)(1), Mumbai

In the result, assessee’s appeal is allowed for statistical purpose

ITA 6194/MUM/2018[2014-15]Status: DisposedITAT Mumbai28 Jul 2020AY 2014-15

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

For Appellant: Respondent byFor Respondent: Mrs. Samatha Mullamudi, D.R
Section 1Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR, VICE PRESIDENT& Ms. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No. 6194/Mum/2018 (Assessment Year: 2014-15) J.B. Boda Reinsurance Vs. Asst. CIT 1(2)(1), Brokers Pvt. Ltd. Aaykar Bhavan, Maker Bhavan, 1, Mumbai Sir V T Marg, Mumbai-400020 [PAN No. AAB CJ2 372 E] (Appellant) .. (Respondent) Shri Nikunj Gada, AR Appellant by : Respondent by : Mrs. Samatha Mullamudi, D.R. Date of Hearing 06.01.2020 28.07.2020 Date of Pronouncement O R D E R PER Ms. MADHUMITA ROY - JM: The instant appeal filed by the assessee is directed against the orde…

Laqshya Media Limited, Mumbai vs. Deputy Commissioner of Income Tax-10(2)(1), Mumbai

In the result this ground of appeal is allowed for statistical purposes

ITA 7310/MUM/2018[2014-15]Status: DisposedITAT Mumbai17 Jul 2020AY 2014-15

Bench: Shri Pawan Singh & Shri M. Balaganesh(Virtual Hearing In Vc No. –Ii) M/S. Laqshya Media Ltd. D C I T - 10(2)(1) Laqshya House Room No. 509/216A Next To Rameshwar Temple, Vs. Aayakar Bhavan, M.K. Road Saraswti Baug, Society Road, Mumbai 400020 Jogeshwari (E), Mumbai 400060 Pan – Aaacl5004C Appellant Respondent Appellant By: Shri Rajan Vora-Ar Respondent By: Shri Anand Mohancit-Dr Date Of Hearing: 08.07.2020 Date Of Pronouncement: 17.07.2020 O R D E R Per Pawan Singhthis Appeal Filed By The Assessee Is Directed Against The Assessment Order Passed By The Assessing Officer Under Section 143(3) R.W.S. 144C(1) Of The Income Tax Act, 1961 (Hereinafter "The Act") Dated 29Th October, 2018, Passed In Pursuance Of The Directions Of Dispute Resolution Penal (Drp) Dated 28Th August, 2018 For A.Y. 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “On The Facts & In The Circumstances Of The Case & In Law, The Learned Ao/ Learned Deputy Commissioner Of Income-Tax, Transfer Pricing - 3(1)(1)(Hereinafter Referred To As Tpo')/ Hon'Ble Drp Has: General Ground 1. Erred In Assessing The Total Income At 5,67,38,117As Against Returned Loss Of Rs.8,55,13,089 Computed By The Appellant; Part B -Transfer Pricing Ground: 2. Adjustment Of Rs.20.58.028/- Pertaining To Providing Of Corporate Guarantee (Cg) To Associated Enterprise (Ae)

For Appellant: Shri Rajan Vora-ARFor Respondent: Shri Anand MohanCIT-DR
Section 143(3)Section 36(1)(iii)Section 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" Bench, Mumbai Before Shri Pawan Singh, Judicial Member and Shri M. Balaganesh, Accountant Member (Virtual hearing in VC No. –II) M/s. Laqshya Media Ltd. D C I T - 10(2)(1) Laqshya House Room No. 509/216A Next to Rameshwar Temple, Vs. Aayakar Bhavan, M.K. Road Saraswti Baug, Society Road, Mumbai 400020 Jogeshwari (E), Mumbai 400060 PAN – AAACL5004C Appellant Respondent Appellant by: Shri Rajan Vora-AR Respondent by: Shri Anand MohanCIT-DR Date of Hearing: 08.07.2020 Date of Pronouncement: 17.07.2020 O R D E R PER PAWAN SINGH, JUDICIAL MEMBER This appeal filed by the assess…