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.

Bengal Finance & Investment P.Ltd, Mumbai vs. DCIT Cir 8(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 3976/MUM/2016[2012-13]Status: DisposedITAT Mumbai25 Sept 2019AY 2012-13

Bench: Shri Shamim Yahya & Shri Pawan Singh

For Appellant: Shri Harsh M. Kapadia (AR)For Respondent: Shri Manoj Kumar Singh (DR)
Section 115jSection 14ASection 254(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “H” BENCH MUMBAI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH JUDICIAL MEMBER ITA No. 2975/Mum/2016 (Assessment Year 2011-12) M/s Bengal Finance & Dy. CIT, Circle-8(1) Investment Pvt. Ltd., Building Mumbai. 2B, Unit No.10, Mittal Vs. Industrial Estate, Andheri (E), Mumbai 400059 PAN – AABCB7225Q Appellant Respondent ACIT-9(2)(1) M/s Bengal Finance & Room No. 665,A, 6th Floor, Investment Pvt. Ltd., Building Aayakar Bhavan, M.K. Vs. 2B, Unit No.10, Mittal Road, Mumbai-400020. Industrial Estate, Andheri (E), Mumbai 400059 PAN – AABCB7225Q Appellant Responden…

M/S. Suprajit Engineering Limited, Bengaluru vs. Deputy Commissioner of Income Tax, Bengaluru

In the result, appeal of the assessee is treated as allowed

ITA 2611/BANG/2017[2013-14]Status: DisposedITAT Bangalore25 Sept 2019AY 2013-14

Bench: Shri N.V Vasudevan, Vice Presidnet & Shri B.R Baskaran

For Appellant: Shri Sudheendra B.R, AdvocateFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 143(3)Section 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH : BANGALORE BEFORE SHRI N.V VASUDEVAN, VICE PRESIDNET AND SHRI B.R BASKARAN, ACCOUNTANT MEMBER IT(TP)A No.2611/Bang/2017 Assessment year : 2013-08 Suprajit Engineering Ltd., Vs. The Dy. Commissioner of Income-tax, No.100, Bommasandra Industrial Area, Large Taxpayers Unit, Bengaluru-560 099. Circle-1, Bengaluru. PAN – AADCS 1638 L APPELLANT RESPONDENT Appellant by : Shri Sudheendra B.R, Advocate Respondent by : Shri Pradeep Kumar, CIT (DR) Date of hearing : 05.09.2019 Date of Pronouncement : 25.09.2019 O R D E R Per B.R Baskaran, Accountant Member The assess…

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

In the result, appeal of the assessee i

ITA 110/CTK/2018[2014-15]Status: DisposedITAT Cuttack23 Sept 2019AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.106/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.110/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.30/Ctk/2018 (Arising Out Of Ita No.110/Ctk/2018) (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.K.Mahapatra, Ar राजस्व की ओर से /Revenue By : Shri Piyush Kolhe, Cit Dr सुनवाई की तारीख / Date Of Hearing : 05/09/2019 घोषणा की तारीख/Date Of Pronouncement : 23/09/2019 आदेश / O R D E R Per L.P.Sahu, Am: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Bhubaneswar, Dated 21.12.2017 For The Assessment Year 2014-2015. Co No.30/Ctk/2018

For Appellant: Shri B.K.Mahapatra, ARFor Respondent: Shri Piyush Kolhe, CIT DR
Section 14ASection 43B

…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.106/CTK/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.CIT, Corporate Circle- Limited, 1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/PAN No. : AAACN 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. AND आयकर अऩीऱ सं./ITA No.110/CTK/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.CIT, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, NALCO Bhavan, P/1…

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

In the result, appeal of the assessee i

ITA 106/CTK/2018[2014-15]Status: DisposedITAT Cuttack23 Sept 2019AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.106/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.110/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.30/Ctk/2018 (Arising Out Of Ita No.110/Ctk/2018) (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.K.Mahapatra, Ar राजस्व की ओर से /Revenue By : Shri Piyush Kolhe, Cit Dr सुनवाई की तारीख / Date Of Hearing : 05/09/2019 घोषणा की तारीख/Date Of Pronouncement : 23/09/2019 आदेश / O R D E R Per L.P.Sahu, Am: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Bhubaneswar, Dated 21.12.2017 For The Assessment Year 2014-2015. Co No.30/Ctk/2018

For Appellant: Shri B.K.Mahapatra, ARFor Respondent: Shri Piyush Kolhe, CIT DR
Section 14ASection 43B

…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.106/CTK/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.CIT, Corporate Circle- Limited, 1(2), Bhubaneswar NALCO Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/PAN No. : AAACN 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. AND आयकर अऩीऱ सं./ITA No.110/CTK/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.CIT, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, NALCO Bhavan, P/1…

Adani Agro Pvt. Ltd., Ahmedabad vs. The Dy.CIT., Circle-1, Ahmedabad

In the result, the assessee appeal is thus allowed

ITA 1809/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad20 Sept 2019AY 2009-10

Bench: Shri O. P. Meena& Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Advocate with Parin ShahFor Respondent: 17.09.2019
Section 115JSection 143(3)Section 14ASection 234BSection 234C

…authority. At the time of hearing of the instant appeal, the Learned Sr. Counsel appearing for the assessee submitted before that this issue is squarely covered by the Jurisdictional High Court in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 82 Taxmann.com 415 wherein the disallowance made u/s 14A of the Act has been held not to be disallowed u/s 115JB of the Act. The Learned DR, however, failed to make any contrary submission to that of the contentions made by the Learned AR. 18. We have heard the rival contentions of both the parties and perused the materials available on record. The AO in th…

ACIT Cir 7(3)(1), Mumbai vs. Essel Infraprojects Ltd, Mumbai

ITA 6050/MUM/2018[2013-14]Status: DisposedITAT Mumbai20 Sept 2019AY 2013-14

Bench: Shri Ravish Sood & Shri N.K. Pradhanacit, Circle-7(3)(1) M/S Essel Infraprojects Ltd. Room No. 142, G, 135, Continental Building , 1St Floor, Aayakar Bhavan, Dr.Annie Besant Road, Worli, Vs. M.K. Road, Churchgate, Mumbai – 4000018 Mumbai – 400020 Pan – Aaacp6095M (Appellant) (Respondent)

For Appellant: Shri Manjunatha Swamy, D.RFor Respondent: None
Section 143(1)Section 143(2)Section 143(3)Section 14A

…P a g e | 1 ITA No. 6050/Mum/2018 A.Y. 2013-14 ACIT, Circle-7(3)(1) Vs. M/s Essel Infraprojects Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL “E” Bench, Mumbai Before Shri Ravish Sood, Judicial Member and Shri N.K. Pradhan, Accountant Member ACIT, Circle-7(3)(1) M/s Essel Infraprojects Ltd. Room No. 142, G, 135, Continental Building , 1st Floor, Aayakar Bhavan, Dr.Annie Besant Road, Worli, Vs. M.K. Road, Churchgate, Mumbai – 4000018 Mumbai – 400020 PAN – AAACP6095M (Appellant) (Respondent) Appellant by: Shri Manjunatha Swamy, D.R Respondent by: None Date of Hearing: 16.09.2019 Date of Pronouncement: 20.09.2019…

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

In the result, the appeal filed by the Revenue in ITA

ITA 3004/CHNY/2017[2014-15]Status: DisposedITAT Chennai16 Sept 2019AY 2014-15

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Mr. M.Srinivasa Rao, CIT
Section 115JSection 143(3)Section 14A

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद य एवं "ी इंटूर" रामा राव, लेखा सद य के सम( BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2734/Chny/2017 "नधा"रण वष" /Assessment Year: 2014-15 Vs. The Dy. Commissioner of- M/s.SVL Ltd., Income Tax, (Formerly known as Corporate Circle-6(2), Shriram Industrial Chennai-600 034. Holdings Ltd.), 123, Angappa Naicken Street, Chennai-600 001. [PAN: AAACS 7696 D] (अपीलाथ*/Appellant) (+,यथ*/Respondent) आयकर अपील सं./ITA No.3004/Chny/201…

DCIT Corporate Circle 6(2), Chennai vs. Svl Limited, Chennai

In the result, the appeal filed by the Revenue in ITA

ITA 2734/CHNY/2017[2014-15]Status: DisposedITAT Chennai16 Sept 2019AY 2014-15

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Mr. M.Srinivasa Rao, CIT
Section 115JSection 143(3)Section 14A

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद य एवं "ी इंटूर" रामा राव, लेखा सद य के सम( BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2734/Chny/2017 "नधा"रण वष" /Assessment Year: 2014-15 Vs. The Dy. Commissioner of- M/s.SVL Ltd., Income Tax, (Formerly known as Corporate Circle-6(2), Shriram Industrial Chennai-600 034. Holdings Ltd.), 123, Angappa Naicken Street, Chennai-600 001. [PAN: AAACS 7696 D] (अपीलाथ*/Appellant) (+,यथ*/Respondent) आयकर अपील सं./ITA No.3004/Chny/201…

Nowrosjee Wadia and Sons Ltd, Mumbai vs. ITO 2(2)(3), Mumbai

Appeal is partly allowed for statistical purposes

ITA 4133/MUM/2015[2010-11]Status: DisposedITAT Mumbai09 Sept 2019AY 2010-11

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2010-11

For Appellant: Mr. Ronak Doshi, ARFor Respondent: Ms. Jothi Lakshmi Nayak, DR
Section 143(3)Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B” MUMBAI BEFORE SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2010-11 NowrosjeeWadia and Sons The Income Tax Officer Limited Admin Office : C-1, Vs. 2(2)(3), Mumbai. Wadia International Budhkar (W.I.C.), PandurangBudhkar Marg, Worli, Mumbai-400025. PAN No. AAACN1836A Appellant Respondent Assessment Year: 2010-11 The Income Tax Officer NowrosjeeWadia and Sons 2(2)(3), Mumbai. Vs. Limited Admin Office : C-1, Wadia International Budhkar (W.I.C.), PandurangBudhkar Marg, Worli, Mumbai-400025. PAN No. AAACN1836A…

Khandwala Securities Ltd, Mumbai vs. ITO-4(3)(2), Mumbai

In the result this ground of appeal is allowed

ITA 3300/MUM/2011[2007-08]Status: DisposedITAT Mumbai09 Sept 2019AY 2007-08

Bench: Shri R.C. Sharma & Shri Pawan Singh

Section 115Section 143(3)Section 14ASection 234BSection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “H”, MUMBAI BEFORE SHRI R.C. SHARMA ACCOUNTANT MEMBER AND SHRI PAWAN SINGH JUDICIAL MEMBER ITA No. 3300/Mum/2011-(Assessment year: 2007-08) Khandwala Securities Ltd, Vs ITO 4(3)(2), Ground Floor, Aayakar Bhawan, Vikas Building, Green Street, M.K.Road, Fort, Mumbai-400020 Mumbai-400 020 PAN : AAACK 2214 P APPELLANT RESPONDEDNT ITA No. 4608/Mum/2011-(Assessment year: 2007-08) ITO 4(3)(2), Vs Khandwala Securities Ltd, Aayakar Bhawan, Ground Floor, M.K.Road, Vikas Building, Green Street, Mumbai-400 020 Fort, Mumbai-400020 PAN : AAACK 2214 P APPELLANT RESPONDEDNT Assess…

The Dy. CIT, Circle-1(1)(2), Ahmedabad vs. M/S. Cims Hospital Pvt. Ltd., Ahmedabad

Appeal is partly allowed and revenue’s appeal is dismissed

ITA 3299/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad05 Sept 2019AY 2012-13

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RFor Respondent: Shri Vinod Tanwani, Sr. D.R
Section 115JSection 143(3)Section 14ASection 15Section 2(24)(x)Section 40A(2)(b)Section 44B

…le for Rs. 35825/- in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. However, we note that in the recent judgment passed by the 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 hereinbelow: "In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made "wit…

Cims Hospital Pvt. Ltd., Ahmedabad vs. The Dy. CIT, Central Circle-1(1)(2), Ahmedabad

Appeal is partly allowed and revenue’s appeal is dismissed

ITA 3213/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad05 Sept 2019AY 2012-13

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RFor Respondent: Shri Vinod Tanwani, Sr. D.R
Section 115JSection 143(3)Section 14ASection 15Section 2(24)(x)Section 40A(2)(b)Section 44B

…le for Rs. 35825/- in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. However, we note that in the recent judgment passed by the 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 hereinbelow: "In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made "wit…

The Jt. CIT, Range-4, Ahmedabad vs. M/S. Mastek Ltd., Ahmedabad

ITA 514/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2010-11

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…le for Rs. 35825/- in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. However, we note that in the recent judgment passed by the 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 hereinbelow: "In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made "wit…

Mastek Limited, Ahmedabad vs. The Jt.CIT, Rang4, Ahmedabad

ITA 172/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2010-11

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…le for Rs. 35825/- in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. However, we note that in the recent judgment passed by the 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 hereinbelow: "In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made "wit…

Asstt. Commissioner of Income Tax, Circle-2(1)(2), Ahmedabad vs. M/S. Mastek Ltd., Ahmedabad

ITA 1852/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2009-10

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…le for Rs. 35825/- in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. However, we note that in the recent judgment passed by the 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 hereinbelow: "In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made "wit…

Mastek Limited, Ahmedabad vs. The Dy.CIT, (OSD) - 1, Circle-4, Ahmedabad

ITA 1188/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2009-10

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…le for Rs. 35825/- in pursuance to the clause (f) of explanation 1 to section 115JB of the Act. However, we note that in the recent judgment passed by the 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 hereinbelow: "In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made "wit…

DCIT 5(2)(1), Mumbai vs. K. Girdharilal International Ltd., Mumbai

In the result, appeals filed by the revenue are hereby ordered to be dismissed

ITA 4036/MUM/2018[2011-12]Status: DisposedITAT Mumbai28 Aug 2019AY 2011-12

Bench: Shri Amarjit Singh, Jm & Shri G. Manjunatha, Am आयकर अपील सं/ I.T.A. Nos. 4036 To 4038 /Mum/2018 (निर्धारण वर्ा / Assessment Years: 2011-12, 2012-13 & 2013-14) Dy. Commissioner Of बिधम/ M/S. K. Girdharlal International Pvt. Ltd. Income Tax 5(2)(1) Vs. 1011 Prasad Chambers, Room No. 571, 5Th Floor, Opera House, Mumbai- Aayakar Bhavan, M.K. 400004. Road, Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacck6101F (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Manoj Kumar Singh (Dr) Assessee By: Ms. Veena Purohit (Ar) सुनवाई की तारीख / Date Of Hearing: 20/08/2019 घोषणा की तारीख /Date Of Pronouncement: 28/08/2019 आदेश / O R D E R Per Amarjit Singh, Jm: The Above Mentioned Appeals Have Been Filed By The Revenue Against The Order Dated 21.03.2018 Passed By The Commissioner Of Income Tax (Appeals)-10, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Ys.2011-12, 2012-13 & 2013-14. Ita. No.4036/M/2018:- 2. The Revenue Has Filed The Present Appeal Against The Order Dated 21.03.2018 Passed By The Commissioner Of Income Tax (Appeals)-10

For Appellant: Ms. Veena Purohit (AR)For Respondent: Shri Manoj Kumar Singh (DR)
Section 10(34)Section 143(1)Section 143(2)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, JM AND SHRI G. MANJUNATHA, AM आयकर अपील सं/ I.T.A. Nos. 4036 to 4038 /Mum/2018 (निर्धारण वर्ा / Assessment Years: 2011-12, 2012-13 & 2013-14) Dy. Commissioner of बिधम/ M/s. K. Girdharlal International Pvt. Ltd. Income Tax 5(2)(1) Vs. 1011 Prasad Chambers, Room No. 571, 5th Floor, Opera House, Mumbai- Aayakar Bhavan, M.K. 400004. Road, Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AACCK6101F (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri Manoj Kumar Singh (DR) Assessee by: Ms. Veena Purohit (AR) सुनवाई क…

Assistant Commissioner of Income Tax 2(3)(2), Mumbai vs. Kotak Mahindra Bank Limited, Mumbai

In the result, both the appeals filed by the revenue are dismissed

ITA 781/MUM/2018[2013-14]Status: DisposedITAT Mumbai27 Aug 2019AY 2013-14

Bench: Shri Shamim Yahya & Shri Pawan Singh

Section 143(3)Section 14ASection 36Section 36(1)(vii)

…that when investments are not for the purpose of yielding income, that part of investment is to be excluded from the working of disallowance u/r 8D(2)(iii). For this proposition, the Ld.AR relied upon the following precedents:- 1. Vireet Investment (P) Ltd 82 Taxmann.com 415 (Del)(SB) 2. Kotak Securities Ltd ITA No.666, 7055/M/16 3. Ageis Logistic Ltd ITA No.1945/M/2016 4. Reliance Capital Ltd ITA No.4008/M/2016 5. Stock Traders Pvt Ltd ITA No.2108/M/2006, 4403 & 687/M/2011 6. Reliance Capital Ltd ITA No.6396 & 6397/M/2017 7. Syntex Corporation P Ltd ITA No.2994/M/2012 8. Garden Court Distilleries P. Ltd ITA N…

DCIT - 14(3)(1), Mumbai vs. Tata Petrodyne Ltd, Mumbai

ITA 7169/MUM/2017[2013-14]Status: DisposedITAT Mumbai21 Aug 2019AY 2013-14

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2013-14

For Appellant: Shri Prakash R. Mane, A.RFor Respondent: Shri Firoz Andhyarujina, D.R
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “E”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER Assessment Year: 2013-14 DCIT 14(3)(1), M/s. Tata Petrodyne Ltd., 4th Floor, V Floor, West Wing, Room No.455, Vs. The Metropolitan, Aayakar Bhavan, BKC, Bandra (E), M.K. Road, Mumbai – 400 051 Mumbai - 400020 PAN: AAACT0090N (Appellant) (Respondent) Present for: Assessee by : Shri Prakash R. Mane, A.R. Revenue by : Shri Firoz Andhyarujina, D.R. Date of Hearing : 27.06.2019 Date of Pronouncement : 21.08.2019 O R D E R Per Rajesh Kumar, Accountant Member: The present…

Medall Health Care Pvt. Ltd., Chennai vs. DCIT Corporate Circle 4(1), Chennai

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

ITA 2383/CHNY/2018[2015-16]Status: DisposedITAT Chennai01 Aug 2019AY 2015-16

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Mr. R.Clement Ramesh-
Section 115Section 115JSection 14A

…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 "ी इंटूर" रामा राव, लेखा सद"य के सम' BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2383/Chny/2018 "नधा"रण वष" /Assessment Year: 2015-16 Vs. M/s.Medall Health Care Pvt. Ltd., The Dy. Commissioner- No.67, 2nd Floor, TNPL Building, of Income Tax, Mount Road, Guindy, Corporate Circle-4(1), Chennai-32. Chennai. [PAN: AABCP 9015 E] (अपीलाथ)/Appellant) (*+यथ)/Respondent) : Mr.T.Vasudevan, Adv. अपीलाथ) क, ओर से/ Appellant by : Mr.…