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.

Infrastructure Leasing & Financial Services Ltd, Mumbai vs. Asst CIT 10(1), Mumbai

In the result, appeals of the assessee as well as revenue are partly allowed as indicated above

ITA 3786/MUM/2013[2009-10]Status: DisposedITAT Mumbai28 Nov 2019AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Ble

For Appellant: Shri Sandeep Bhalla &For Respondent: Shri Awangshi Gimson
Section 10Section 115JSection 14ASection 234BSection 234DSection 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON'BLE ACCOUNTANT MEMBER ITA.NOs. 3785 & 3786/MUM/2013 (A.Ys: 2008-09 & 2009-10) M/s. Infrastructure Leasing & v. Addl. Commissioner of Income Tax Range – 10(1) Financial Services Ltd., Room No. 455, 4th Floor The IL & FS Financial Centre Aayakar Bhavan Plot No. C-22, G Block M.K. Road, Mumbai – 400 020 Bandra Kurla Complex Bandra (E), Mumbai – 400 051 PAN: AAACI0989F (Appellant) (Respondent) ITA.NOs. 3699 & 3700/MUM/2013 (A.Ys: 2009-10 & 2008-09) Dy. Commissioner of Income Tax v…

Infrastructure Leasing & Financial Services Ltd, Mumbai vs. Asst CIT 10(1), Mumbai

In the result, appeals of the assessee as well as revenue are partly allowed as indicated above

ITA 3785/MUM/2013[2008-09]Status: DisposedITAT Mumbai28 Nov 2019AY 2008-09

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Ble

For Appellant: Shri Sandeep Bhalla &For Respondent: Shri Awangshi Gimson
Section 10Section 115JSection 14ASection 234BSection 234DSection 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON'BLE ACCOUNTANT MEMBER ITA.NOs. 3785 & 3786/MUM/2013 (A.Ys: 2008-09 & 2009-10) M/s. Infrastructure Leasing & v. Addl. Commissioner of Income Tax Range – 10(1) Financial Services Ltd., Room No. 455, 4th Floor The IL & FS Financial Centre Aayakar Bhavan Plot No. C-22, G Block M.K. Road, Mumbai – 400 020 Bandra Kurla Complex Bandra (E), Mumbai – 400 051 PAN: AAACI0989F (Appellant) (Respondent) ITA.NOs. 3699 & 3700/MUM/2013 (A.Ys: 2009-10 & 2008-09) Dy. Commissioner of Income Tax v…

DCIT 10(1), Mumbai vs. Infrastructure Leasing & Financial Services Ltd, Mumbai

In the result, appeals of the assessee as well as revenue are partly allowed as indicated above

ITA 3700/MUM/2013[2008-09]Status: DisposedITAT Mumbai28 Nov 2019AY 2008-09

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Ble

For Appellant: Shri Sandeep Bhalla &For Respondent: Shri Awangshi Gimson
Section 10Section 115JSection 14ASection 234BSection 234DSection 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON'BLE ACCOUNTANT MEMBER ITA.NOs. 3785 & 3786/MUM/2013 (A.Ys: 2008-09 & 2009-10) M/s. Infrastructure Leasing & v. Addl. Commissioner of Income Tax Range – 10(1) Financial Services Ltd., Room No. 455, 4th Floor The IL & FS Financial Centre Aayakar Bhavan Plot No. C-22, G Block M.K. Road, Mumbai – 400 020 Bandra Kurla Complex Bandra (E), Mumbai – 400 051 PAN: AAACI0989F (Appellant) (Respondent) ITA.NOs. 3699 & 3700/MUM/2013 (A.Ys: 2009-10 & 2008-09) Dy. Commissioner of Income Tax v…

DCIT 10(1), Mumbai vs. Infrastructure Leasing & Financial Services Ltd, Mumbai

In the result, appeals of the assessee as well as revenue are partly allowed as indicated above

ITA 3699/MUM/2013[2009-10]Status: DisposedITAT Mumbai28 Nov 2019AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Ble

For Appellant: Shri Sandeep Bhalla &For Respondent: Shri Awangshi Gimson
Section 10Section 115JSection 14ASection 234BSection 234DSection 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON'BLE ACCOUNTANT MEMBER ITA.NOs. 3785 & 3786/MUM/2013 (A.Ys: 2008-09 & 2009-10) M/s. Infrastructure Leasing & v. Addl. Commissioner of Income Tax Range – 10(1) Financial Services Ltd., Room No. 455, 4th Floor The IL & FS Financial Centre Aayakar Bhavan Plot No. C-22, G Block M.K. Road, Mumbai – 400 020 Bandra Kurla Complex Bandra (E), Mumbai – 400 051 PAN: AAACI0989F (Appellant) (Respondent) ITA.NOs. 3699 & 3700/MUM/2013 (A.Ys: 2009-10 & 2008-09) Dy. Commissioner of Income Tax v…

DCIT, Circle - 6, Kolkata vs. Williamson Magor & Company Limited, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 164/KOL/2019[2013-14]Status: DisposedITAT Kolkata22 Nov 2019AY 2013-14

Bench: Shri S.S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.164/Kol/2019 ("नधा"रणवष" / Assessment Year: 2013-14)

For Appellant: Smt. Ranu Biswas, Addl. CITFor Respondent: Shri D.S. Damle, FCA
Section 115JSection 143(3)Section 14A

…tation of income. The disallowance of the same was also made while determining the profit u/s 115JB of the Act. However, we note that in 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 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. Relevant portion of the said order is reproduced below: "In view of above discussion, the computation under clause (f) of Explanation 1 to section 115]B(2), is to be made without resorting to th…

DCIT, Circle - 1(1), Kolkata vs. M/S. Mcnally Bharat Engineering Company Limited, Kolkata

ITA 147/KOL/2018[2010-11]Status: DisposedITAT Kolkata22 Nov 2019AY 2010-11

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) Dcit, Circle-1(1), Kolkata Vs. M/S. Mcnally Bharat Engineering Ltd. M/S Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm9443R (Appellant) .. (Respondent/Cross-Objector)

For Appellant: Dr. P. K. Srihari, CIT(DR)For Respondent: Shri Chetan Mehta, FCA, Ashish Jain, FCA &
Section 115JSection 144C(3)Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & Dr. A. L. SAINI, AM I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) DCIT, Circle-1(1), Kolkata Vs. M/s. Mcnally Bharat Engineering Ltd. M/s Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AABCM9443R (Appellant) .. (Respondent/Cross-Objector) Appellant by : Dr. P. K. Srihari, CIT(DR) Respondent by : Shri Chetan Mehta, FCA, Ashish Jain, FCA & Alpesh Gupta, ACA सुनवाईक"तार"ख/ Date of Hearing : 04/11/2019 घोषण…

DCIT, Circle - 1(1), Kolkata vs. M/S. Mcnally Bharat Engineering Company Limited, Kolkata

ITA 109/KOL/2018[2011-12]Status: DisposedITAT Kolkata22 Nov 2019AY 2011-12

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) Dcit, Circle-1(1), Kolkata Vs. M/S. Mcnally Bharat Engineering Ltd. M/S Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm9443R (Appellant) .. (Respondent/Cross-Objector)

For Appellant: Dr. P. K. Srihari, CIT(DR)For Respondent: Shri Chetan Mehta, FCA, Ashish Jain, FCA &
Section 115JSection 144C(3)Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & Dr. A. L. SAINI, AM I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) DCIT, Circle-1(1), Kolkata Vs. M/s. Mcnally Bharat Engineering Ltd. M/s Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AABCM9443R (Appellant) .. (Respondent/Cross-Objector) Appellant by : Dr. P. K. Srihari, CIT(DR) Respondent by : Shri Chetan Mehta, FCA, Ashish Jain, FCA & Alpesh Gupta, ACA सुनवाईक"तार"ख/ Date of Hearing : 04/11/2019 घोषण…

Prakash K. Shah, Mumbai vs. ACIT 17(2), Mumbai

In the result, assessee’s appeals are allowed for statistical purposes

ITA 4566/MUM/2018[2012-13]Status: DisposedITAT Mumbai11 Nov 2019AY 2012-13

Bench: Shri Shamim Yahya

For Appellant: Shri N.R. AgarwalFor Respondent: Shri Chaitanya Anjaria
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER ITA no.4566 & 4567/Mum./2018 (Assessment Year : 2012–13 & 2013–14) Shri Prakash K. Shah 8B, Rajabhadur Mansion 11/43, Ramarind Lane ……………. Appellant For, Mumbai 400 023 PAN – AACPS8291F v/s Asstt. Commissioner of Income Tax ……………. Respondent Circle–17(2), Mumbai Assessee by : Shri N.R. Agarwal Revenue by : Shri Chaitanya Anjaria Date of Hearing – 19.08.2019 Date of Order – 11.11.2019 O R D E R These are appeals by the assessee against common order 20th June 2018, passed by the learned Commissioner (Appeals)–…

DCIT- 5(2)(1), Mumbai vs. Jsw Infrastructure Ltd., Mumbai

ITA 3708/MUM/2018[2014-15]Status: DisposedITAT Mumbai08 Nov 2019AY 2014-15

Bench: Shri Vikas Awasthy & Shri G. Manjunatha

Section 115JSection 139(1)Section 139(5)Section 14ASection 80ASection 80A(5)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “F”, BENCH MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI G. MANJUNATHA, ACCOUNTANT MEMBER ITA No.3708 & 3709/Mum/2018 (Assessment Years :2013-14 & 2014-15) DCIT-5(2)(1) Vs. M/s JSW Infrastructure Ltd. Room No.571, 5th Floor JSW Centre BKC Aaykar Bhawan, M.K.Road Bandra (East) Mumbai-400 020 Mumbai-400 051 PAN/GIR No.AABCJ6721D (Appellant) .. Respondent) Assessee by Rishabh Shah Revenue by Sushil Kumar Poddar Date of Hearing 05/11/2019 Date of Pronouncement 08 /11/2019 आदेश आदेश / O R D E R आदेश आदेश PER G.MANJUNATHA (A.M): These two appeals filed by the re…

Tata Automcomp Systems Ltd, Pune vs. Asst CIT Ltu-2, Mumbai

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

ITA 346/MUM/2016[2011-12]Status: DisposedITAT Mumbai08 Nov 2019AY 2011-12

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am आयकर अपील सुं./ Ita No. 346/Mum/2016 (यिर्ाारण वर्ा / Assessment Year 2011-12) Tata Autocomp Systems The Asst. Commissioner Of Limited, Income Tax, (Large Taxpayer House, 24, Homi Mody Unit)-2, बनाम/ Street, Fort, Vs. Mummbai-400 001 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaact1848E आयकर अपील सुं./ Ita No. 5683/Mum/2015 (यिर्ाारण वर्ा / Assessment Year 2011-12) The Asst. Commissioner Of Tata Autocomp Systems Income Tax, (Large Limited, Taxpayer Unit)-2, World Bombay House, 24, Homi बनाम/ Trade Centre, Centre -1 , Mody Street, Fort, Vs. 29Th Floor Cuffe Parade, Mummbai-400 001 Mumbai-400 005 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर े / Appellant By : Shri P.J. Pardiwalla, Ar प्रत्यर्थी की ओर े / Respondent By : Shri R. Manjunatha Swamy, Cit Dr ुिवाई की तारीख / Date Of Hearing: 05.09.2019 घोर्णा की तारीख / Date Of Pronouncement : 08.11.2019

For Appellant: Shri P.J. Pardiwalla, ARFor Respondent: Shri R. Manjunatha Swamy, CIT DR
Section 143(3)Section 144C(13)Section 36(1)(iii)Section 57

…आयकर अपीलीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष। BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM आयकर अपील सुं./ ITA No. 346/Mum/2016 (यिर्ाारण वर्ा / Assessment Year 2011-12) Tata Autocomp Systems The Asst. Commissioner of Limited, Income Tax, (Large Taxpayer House, 24, Homi Mody Unit)-2, बनाम/ Street, Fort, Vs. Mummbai-400 001 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./PAN No. AAACT1848E आयकर अपील सुं./ ITA No. 5683/Mum/2015 (यिर्ाारण वर्ा / Assessment Year 20…

Asst CIT (Ltu) 2, Mumbai vs. Tata Autocomp Ltd, Mumbai

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

ITA 5683/MUM/2015[2011-12]Status: DisposedITAT Mumbai08 Nov 2019AY 2011-12

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am आयकर अपील सुं./ Ita No. 346/Mum/2016 (यिर्ाारण वर्ा / Assessment Year 2011-12) Tata Autocomp Systems The Asst. Commissioner Of Limited, Income Tax, (Large Taxpayer House, 24, Homi Mody Unit)-2, बनाम/ Street, Fort, Vs. Mummbai-400 001 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaact1848E आयकर अपील सुं./ Ita No. 5683/Mum/2015 (यिर्ाारण वर्ा / Assessment Year 2011-12) The Asst. Commissioner Of Tata Autocomp Systems Income Tax, (Large Limited, Taxpayer Unit)-2, World Bombay House, 24, Homi बनाम/ Trade Centre, Centre -1 , Mody Street, Fort, Vs. 29Th Floor Cuffe Parade, Mummbai-400 001 Mumbai-400 005 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर े / Appellant By : Shri P.J. Pardiwalla, Ar प्रत्यर्थी की ओर े / Respondent By : Shri R. Manjunatha Swamy, Cit Dr ुिवाई की तारीख / Date Of Hearing: 05.09.2019 घोर्णा की तारीख / Date Of Pronouncement : 08.11.2019

For Appellant: Shri P.J. Pardiwalla, ARFor Respondent: Shri R. Manjunatha Swamy, CIT DR
Section 143(3)Section 144C(13)Section 36(1)(iii)Section 57

…आयकर अपीलीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष। BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM आयकर अपील सुं./ ITA No. 346/Mum/2016 (यिर्ाारण वर्ा / Assessment Year 2011-12) Tata Autocomp Systems The Asst. Commissioner of Limited, Income Tax, (Large Taxpayer House, 24, Homi Mody Unit)-2, बनाम/ Street, Fort, Vs. Mummbai-400 001 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./PAN No. AAACT1848E आयकर अपील सुं./ ITA No. 5683/Mum/2015 (यिर्ाारण वर्ा / Assessment Year 20…

DCIT, Circle-8(1), Kolkata vs. M/S. Gujarat Nre Coke Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1151/KOL/2017[F.Y-2010-11]Status: DisposedITAT Kolkata06 Nov 2019

Bench: Sri J. Sudhakar Reddy& Sri Aby T. Varkey)

Section 115JSection 143(3)Section 144CSection 14ASection 250Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA (Before Sri J. Sudhakar Reddy, Accountant Member& Sri Aby T. Varkey, Judicial Member) I.T.A. Nos. 1150 & 1151/Kol/2017 Assessment Years: 2008-09 & 2010-11 DCIT, Circle-8(1), Kolkata.………….....................................…......…….............................................Appellant Vs. M/s. Gujarat NRE Coke Ltd..........................................................................................................Respondent [PAN: AABCG 6225 H] Appearances by: Dr. P.K. Srihari, CIT(DR), appeared on behalf of the Revenue. Sh. Ravi Tulsiyan, FCA,…

DCIT, Circle-8(1), Kolkata vs. M/S. Gujarat Nre Coke Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1150/KOL/2017[2008-09]Status: DisposedITAT Kolkata06 Nov 2019AY 2008-09

Bench: Sri J. Sudhakar Reddy& Sri Aby T. Varkey)

Section 115JSection 143(3)Section 144CSection 14ASection 250Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA (Before Sri J. Sudhakar Reddy, Accountant Member& Sri Aby T. Varkey, Judicial Member) I.T.A. Nos. 1150 & 1151/Kol/2017 Assessment Years: 2008-09 & 2010-11 DCIT, Circle-8(1), Kolkata.………….....................................…......…….............................................Appellant Vs. M/s. Gujarat NRE Coke Ltd..........................................................................................................Respondent [PAN: AABCG 6225 H] Appearances by: Dr. P.K. Srihari, CIT(DR), appeared on behalf of the Revenue. Sh. Ravi Tulsiyan, FCA,…

JCIT (OSD) Ltu 2, Chennai vs. Ti Financial Holdings Limited, Chennai

ITA 1974/CHNY/2019[2015-16]Status: DisposedITAT Chennai01 Nov 2019AY 2015-16

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.1974/Chny/2019 िनधा"रण वष"/Assessment Year:2015-16 The Joint Commissioner Of M/S. Ti Financial Holdings Limited, Income Tax (Osd), Vs. Date House, No. 234, Large Taxpayer Unit – 2, Room No. Nsc Bose Road, 711, 7Th Floor, Wanaparthy Block, No. Chennai 600 001. 121, M.G. Road, Chennai 34. [Pan:Aaact1249H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Ms. R. Anita, Jcit ""थ" की ओर से/Respondent By : Shri R. Vijayaraghavan, Advocate सुनवाई की तारीख/ Date Of Hearing : 21.10.2019 घोषणा की तारीख /Date Of Pronouncement : 01.11.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Chennai Dated 21.03.2019 Relevant To The Assessment Year 2015-16. The Grounds Raised In The Appeal Of The Revenue Are That The Ld. Cit(A) Has Erred In Directing The Assessing Officer To Recomputed The Disallowance Under Section 14A To The Extent Of Investments Which Yield Exempt Income During The Year Under Consideration & The Ld. Cit(A) Has Erred In Holding That The 2

For Appellant: Ms. R. Anita, JCITFor Respondent: Shri R. Vijayaraghavan, Advocate
Section 10(34)Section 115JSection 14A

…आयकर अपीलीय अिधकरण, ‘‘डी’’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी धु"ु" आर.एल रे"ी, "ाियक सद" एवं "ी एस जयरामन, लेखा सद" के सम" Before Shri Duvvuru RL Reddy, Judicial Member & Shri S. Jayaraman, Accountant Member आयकर अपील सं./I.T.A.No.1974/Chny/2019 िनधा"रण वष"/Assessment Year:2015-16 The Joint Commissioner of M/s. TI Financial Holdings Limited, Income Tax (OSD), Vs. Date House, No. 234, Large Taxpayer Unit – 2, Room No. NSC Bose Road, 711, 7th Floor, Wanaparthy Block, No. Chennai 600 001. 121, M.G. Road, Chennai 34. [PAN:AAACT1249H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ"…

DCIT, Corp Cir-6(1), Chennai vs. Shriram Capital Ltd, Chennai

In the result appeal of the Revenue in ITA no

ITA 2010/CHNY/2019[2016-17]Status: DisposedITAT Chennai31 Oct 2019AY 2016-17

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr.S.Gautam VenkataFor Respondent: Mr.J.Pavithran Kumar, JCIT
Section 115JSection 143(3)Section 14ASection 260ASection 32

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद"य एवं "ी र#मत कोचर, लेखा सद"य के सम' BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2010/Chny/2019 "नधा"रण वष" /Assessment Year: 2016-17 v. The Dy. Commissioner of Income M/s.Shriram Capital Ltd., Tax, Corporate Circle-6(1), No.4, Shriram House, Room No. 703, 7th Floor Burkit Road, T-Nagar, Wanaparthy Block Chennai-600 017. Aayakar Bhawan [PAN: AABCS 2726 B] Mahatma Gandhi Road Nugambakkam Chennai-600034 (अपीलाथ)/Appellant) (*+यथ)/Re…

For Svl Limited, Chennai vs. ITO Corporate Ward 6(3), Chennai

In the result, Revenue’s appeals are partly allowed for statistical purposes and the assessee’s appeals are dismissed

ITA 3096/CHNY/2017[2014-15]Status: DisposedITAT Chennai31 Oct 2019AY 2014-15

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri A. Mudit Bohara, AdvocateFor Respondent: Shri R. Clement Ramesh Kumar, Addl.CIT
Section 115JSection 143(3)Section 14ASection 251(1)(a)Section 92C

…lete the amount of disallowance made under Section 14A of the Act from book profits for the purpose of computing tax liability under Section 115JB of the Act following the decision of Special Bench of ITAT in the case of ACIT v. Vireet Investments Pvt. Ltd. (82 Taxmann.com 415). The assessee had not contested the addition made under the head “capital gain”. 4. Being aggrieved by that part of the order of the CIT(A), which is against the assessee-company, the assessee-company is in appeal before us in I.T.A. Nos.3095 & 3096/Chny/2017 and being 4 I.T.A. Nos.3059 & 3060/Chny/17 I.T.A. Nos.3095 & 3096/Chny/17 agg…

For Svl Limited, Chennai vs. ITO Corporate Ward 6(3), Chennai

In the result, Revenue’s appeals are partly allowed for statistical purposes and the assessee’s appeals are dismissed

ITA 3095/CHNY/2017[2013-14]Status: DisposedITAT Chennai31 Oct 2019AY 2013-14

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri A. Mudit Bohara, AdvocateFor Respondent: Shri R. Clement Ramesh Kumar, Addl.CIT
Section 115JSection 143(3)Section 14ASection 251(1)(a)Section 92C

…lete the amount of disallowance made under Section 14A of the Act from book profits for the purpose of computing tax liability under Section 115JB of the Act following the decision of Special Bench of ITAT in the case of ACIT v. Vireet Investments Pvt. Ltd. (82 Taxmann.com 415). The assessee had not contested the addition made under the head “capital gain”. 4. Being aggrieved by that part of the order of the CIT(A), which is against the assessee-company, the assessee-company is in appeal before us in I.T.A. Nos.3095 & 3096/Chny/2017 and being 4 I.T.A. Nos.3059 & 3060/Chny/17 I.T.A. Nos.3095 & 3096/Chny/17 agg…

DCIT Corporate Circle 6(2), Chennai vs. Shriram Venture Ltd., Chennai

In the result, Revenue’s appeals are partly allowed for statistical purposes and the assessee’s appeals are dismissed

ITA 3060/CHNY/2017[2014-15]Status: DisposedITAT Chennai31 Oct 2019AY 2014-15

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri A. Mudit Bohara, AdvocateFor Respondent: Shri R. Clement Ramesh Kumar, Addl.CIT
Section 115JSection 143(3)Section 14ASection 251(1)(a)Section 92C

…lete the amount of disallowance made under Section 14A of the Act from book profits for the purpose of computing tax liability under Section 115JB of the Act following the decision of Special Bench of ITAT in the case of ACIT v. Vireet Investments Pvt. Ltd. (82 Taxmann.com 415). The assessee had not contested the addition made under the head “capital gain”. 4. Being aggrieved by that part of the order of the CIT(A), which is against the assessee-company, the assessee-company is in appeal before us in I.T.A. Nos.3095 & 3096/Chny/2017 and being 4 I.T.A. Nos.3059 & 3060/Chny/17 I.T.A. Nos.3095 & 3096/Chny/17 agg…

DCIT Corporate Circle 6(2), Chennai vs. Shriram Venture Ltd., Chennai

In the result, Revenue’s appeals are partly allowed for statistical purposes and the assessee’s appeals are dismissed

ITA 3059/CHNY/2017[2013-14]Status: DisposedITAT Chennai31 Oct 2019AY 2013-14

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri A. Mudit Bohara, AdvocateFor Respondent: Shri R. Clement Ramesh Kumar, Addl.CIT
Section 115JSection 143(3)Section 14ASection 251(1)(a)Section 92C

…lete the amount of disallowance made under Section 14A of the Act from book profits for the purpose of computing tax liability under Section 115JB of the Act following the decision of Special Bench of ITAT in the case of ACIT v. Vireet Investments Pvt. Ltd. (82 Taxmann.com 415). The assessee had not contested the addition made under the head “capital gain”. 4. Being aggrieved by that part of the order of the CIT(A), which is against the assessee-company, the assessee-company is in appeal before us in I.T.A. Nos.3095 & 3096/Chny/2017 and being 4 I.T.A. Nos.3059 & 3060/Chny/17 I.T.A. Nos.3095 & 3096/Chny/17 agg…

DCIT - CC - 1(1), Mumbai vs. Edelweiss Commodities Services Ltd., Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 5587/MUM/2018[2012-13]Status: DisposedITAT Mumbai25 Oct 2019AY 2012-13

Bench: Shri Ravish Sood () & Shri N.K. Pradhan () Assessment Year: 2012-13

For Appellant: Mr. Ravi Kanth Pathak,ARFor Respondent: Mr. R. Manjunatha Swamy, DR
Section 143(3)

…e book profit u/s. 115JB, The AO made an addition of Rs.20,84,72,118/-. In appeal, the ld. CIT(A), following the order of the Special Bench ITA 5587/MUM/2018 M/s. Edelweiss Commodities Services Ltd. 8 of the Tribunal in ACIT v. Vireet Investment Pvt. Ltd 165 ITR 27 (Del-SB), deleted the above disallowance made by the AO. 14. Before us, the ld. DR relies on the order of the AO. On the other hand, the ld. counsel for the assessee relying on the decision in Vireet Investment Pvt. Ltd (supra) supports the order passed by the ld. CIT(A). 15. We have heard the rival submissions and perused the material available…