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 367,154 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.

Ajmera Realty & Infra India Limited, Mumbai vs. DCIT CC-2(4), Mumbai

The appeals stand allowed for statistical purposes

ITA 2415/MUM/2018[2012-13]Status: DisposedITAT Mumbai06 Jun 2019AY 2012-13

Bench: Hon’Ble Shri C.N. Prasad, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri Prakash Jotwani – Ld. ARFor Respondent: Shri Satish Chandra Rajore - Ld. DR

Section 115JSection 143(3)Section 14A

…r reconsideration on above lines. The matter of disallowance u/s 115JB would be considered keeping in view the statutory provisions of Section 115JB as well as the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) 7 Ltd. [82 Taxmann.com 415] and other binding judicial precedents. Needless to add that adequate opportunity of hearing shall be granted to the assessee to substantiate his stand. 6. Both the appeals stand allowed for statistical purposes. Order pronounced in the open court on 06th June, 2019. (C.N.Prasad) (Manoj Kumar Aggarwal) "ाियक सद" / Judicial Member लेखा सद"…

Ajmera Realty & Infra India Limited, Mumbai vs. DCIT CC-2(4), Mumbai

The appeals stand allowed for statistical purposes

ITA 2414/MUM/2018[2014-15]Status: DisposedITAT Mumbai06 Jun 2019AY 2014-15

Bench: Hon’Ble Shri C.N. Prasad, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri Prakash Jotwani – Ld. ARFor Respondent: Shri Satish Chandra Rajore - Ld. DR

Section 115JSection 143(3)Section 14A

Jayantilal B. Jain, Mumbai vs. DCIT 24(1), Mumbai

The appeal stand partly allowed

ITA 2241/MUM/2017[2011-12]Status: DisposedITAT Mumbai06 Jun 2019AY 2011-12

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am

For Appellant: Chaudhary Arun Kumar Singh-DR

Section 143(3)Section 14A

…arn profit. Therefore, these decisions do not apply to the facts of the present case. 7. So far as the disallowance u/s 14A is concerned, Ld. AR has submitted that in terms of decision of Delhi Tribunal (Special Bench) in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415], only exempt income yielding investments were to be considered to arrive at the said disallowance. Concurring with the same, Ld. AO is directed to compute the disallowance by considering those investments which have yielded exempt income during the year. This ground as well as the appeal stand partly allowed. ITA No. 5803/Mum/2017, AY 20…

Suashish Diamonds Ltd, Mumbai vs. Addl CIT RG 5(3), Mumbai

In the result, appeal filed by the assessee is partly allowed and appeal filed by

ITA 7508/MUM/2014[2010-11]Status: DisposedITAT Mumbai31 May 2019AY 2010-11

Bench: Shri C. N. Prasad & Shri G. Manjunatha

Section 115JSection 14A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘जे’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “J”, MUMBAI Before Shri C. N. PRASAD, Judicial Member, and Shri G. MANJUNATHA, Accountant Member ITA NOs.7508/Mum/2014 Assessment Year: 2010-11 Suashish Diamonds Ltd. Addl. CIT, Mehta Mahal, 11th Floor, Range-5(3), बनाम/ 15 Mathew Road, Room No.521, Vs. Opera House, Aayakar Bhavan, Mumbai-400004 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AAACS8246H ITA NOs.7058/Mum/2014 Assessment Year: 2010-11 Addl. CIT, Suashish Diamonds Ltd. Range-5(3), Mehta Mahal, 11th Floor, बनाम/ Room No.521, 15 Mathew R…

DCIT, CC-7(1), Mumbai vs. PAN India Network Infravest Pvt. Ltd., Mumbai

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

ITA 3198/MUM/2018[2015-16]Status: DisposedITAT Mumbai29 May 2019AY 2015-16

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri Jay BhansaliFor Respondent: Shri Neil Phillip

Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA no. 3198/Mum./2018 (Assessment Year : 2015–16) Dy. Commissioner of Income Tax ……………. Appellant Central Circle–7(1), Mumbai v/s Pan India Network Infravest Pvt. Ltd. 135, Continental Building Dr. Annie Besant Road ……………. Respondent Worli, Mumbai 400 018 PAN – AACCP2459H Revenue by : Shri Neil Phillip Assessee by : Shri Jay Bhansali Date of Hearing – 15.05.2019 Date of Order – 29.05.2019 O R D E R PER SAKTIJIT DEY, J.M. The aforesaid appeal has been filed by the…

Ladderup Finance Limited, Mumbai vs. Assistant Commissioner of Income Tax-10(2)(1), Mumbai

ITA 1496/MUM/2018[2013-14]Status: DisposedITAT Mumbai24 May 2019AY 2013-14

Bench: Hon’Ble Sh. G. S. Pannu, V.P. & Hon’Ble Sh. Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 1496/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2013-14)

For Appellant: Shri Rushabh MehtaFor Respondent: Shri Nishant Samaiya

Section 10(34)Section 115Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE HON’BLE SH. G. S. PANNU, V.P. & HON’BLE SH. SANDEEP GOSAIN, JM आयकरअपीलसं./ I.T.A. No. 1496/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2013-14) ACIT-10(2)(1), M/s Ladderup Finance Room No. 509, Ltd. बिधम/ Aayakar Bhavan A-204, Rajeshri Accord, Mumbai-400 020 Telly Cross Lane, Off S. Vs. N. Road, Andheri (east), Mumbai-400069 स्थायीलेखासं./जीआइआरसं./ PAN No. AAACL0882G (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Shri Rushabh Mehta, AR प्रत्यथीकीओरसे/Respondentby : Shri Nishant Samaiya, DR सुनवाईकीतारीख/ : 19.03.2019 Date…

Wartsila India P.Ltd, Navi Mumbai vs. DCIT 15(3)(1), Mumbai

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

ITA 234/MUM/2018[2013-14]Status: DisposedITAT Mumbai21 May 2019AY 2013-14

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

For Appellant: Shri Jehangir D. Mistri, A.RFor Respondent: Shri Choudhary Arunkumar Singh, D.R

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER Assessment Year: 2013-14 M/s. Wartsila India Pvt. DCIT 15(3)(1), Ltd., Aayakar Bhavan, 21st Floor, Kesar Solitaire, M.K. Road, Plot No.5, Sec 19, Vs. Mumbai Palm Beach Rd., Sanpada, Navi Mumbai – 400 705 PAN: AAACW0345D (Appellant) (Respondent) Present for: Assessee by : Shri Jehangir D. Mistri, A.R. Revenue by : Shri Choudhary Arunkumar Singh, D.R. Date of Hearing : 01.05.2019 Date of Pronouncement : 21.05.2019 O R D E R Per Rajesh Kumar, Accountant Member: The pr…

DCIT 14(2)(1), Mumbai vs. Lavasa Corporation Ltd, Mumbai

The appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 3491/MUM/2016[2011-12]Status: DisposedITAT Mumbai21 May 2019AY 2011-12

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2011-12

For Appellant: Shri Niraj Sheth, A.RFor Respondent: Shri Chaudhary Arunkumar Singh, D.R

Section 10Section 10(34)Section 10(35)Section 143(3)Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER Assessment Year: 2011-12 DCIT 14(2)(1), M/s. Lavasa Corporation 432, Aayakar Bhavan, Ltd., 4th Floor, Hincon House, L.B.S Vs. M.K. Marg, Marg, Mumbai - 400020 Vikhroli (West), Mumbai – 400 083 PAN: AABCT 4435E (Appellant) (Respondent) Assessment Year: 2011-12 M/s. Lavasa Corporation CIT(A)-22, Ltd., Earnest House, Hincon House, Nariman Point, Vs. L.B.S Marg, Mumbai - 400021 Vikhroli (West), Mumbai – 400 083 PAN: AABCT 4435E (Appellant) (Respondent) Present for: As…

Brics Gilt Finance P.Ltd, Mumbai vs. DCIT 1(2), Mumbai

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

ITA 1567/MUM/2018[2011-12]Status: DisposedITAT Mumbai20 May 2019AY 2011-12

Bench: Shri Sandeep Gosain & Shri Rajesh Kumarassessment Year: 2011-12

For Appellant: Shri Jitendra Jain, A.RFor Respondent: Shri Jothi Lakshmi Nayak, D.R

Section 10(34)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER Assessment Year: 2011-12 M/s. Brics Gilt Finance DCIT 1(2), Pvt. Ltd., Room No.537, 72, 7th Floor, Aayakar Bhavan, Vs. Maker Chamber IV, Mumbai - 400020 Nariman Point, Mumbai – 400 021 PAN: AAACJ 8885B (Appellant) (Respondent) Present for: Assessee by : Shri Jitendra Jain, A.R. Revenue by : Shri Jothi Lakshmi Nayak, D.R. Date of Hearing : 15.05.2019 Date of Pronouncement : 20.05.2019 O R D E R Per Rajesh Kumar, Accountant Member: The present appeal has been pre…

DCIT, CC - 7(1), Mumbai vs. PAN India Network Infravest Pvt. Ltd., Mumbai

In the result, both the appeals are partly allowed for statistical purposes

ITA 2962/MUM/2018[2013-14]Status: DisposedITAT Mumbai17 May 2019AY 2013-14

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri Jay BhansaliFor Respondent: Shri Awungshi Gimsen

Section 115JSection 14ASection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA no.2962 & 2963/Mum./2018 (Assessment Year : 2013–14 and 2014–15) Dy. Commissioner of Income Tax ……………. Appellant Central Circle–7(1), Mumbai v/s Pan India Network Infravest P. Ltd. 135, Continental Building Dr. Annie Besant Road ……………. Respondent Worli, Mumbai 400 018 PAN – AACCP2459H Revenue by : Shri Awungshi Gimsen Assessee by : Shri Jay Bhansali Date of Hearing – 13.05.2019 Date of Order – 17.05.2019 O R D E R PER SAKTIJIT DEY. J.M. The aforesaid appeals…

DCIT 2(1)(1), Mumbai vs. Ameya Logistics P.Ltd, Mumbai

In the result the appeal filed by the revenue is dismissed and the C

ITA 1192/MUM/2018[2014-15]Status: DisposedITAT Mumbai17 May 2019AY 2014-15

Bench: Shri Shamim Yahya & Shri Ramlal Negiआयकर अपील सुं./I.T.A. No.1192/Mum/2018 (धििाारण वर्ा / Assessment Year : 2014-15 बिाम/ Dcit 2(1)(1) M/S. Ameya Logistics P. R.No. 561, 5 Th Floor, Ltd., Aayakar Bhavan, M.K 4Th Floor, Hamilton V. Road, Mumbai 400020 House,, B.J.N. Heredia Marg, Ballard Estate, Mumbai 400038 स्थायीलेखासुं./Pan:Aaeca4562C

For Appellant: Miss. Rutuja MehtaFor Respondent: Shri. Anadi Verma

Section 115JSection 143(2)Section 143(3)Section 80I

…आयकर अपीलीय अधिकरण “A” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI RAMLAL NEGI,JUDICIAL MEMBER आयकर अपील सुं./I.T.A. No.1192/Mum/2018 (धििाारण वर्ा / Assessment Year : 2014-15 बिाम/ DCIT 2(1)(1) M/s. Ameya Logistics P. R.No. 561, 5 th floor, Ltd., Aayakar Bhavan, M.K 4th Floor, Hamilton v. Road, Mumbai 400020 House,, B.J.N. Heredia Marg, Ballard Estate, Mumbai 400038 स्थायीलेखासुं./PAN:AAECA4562C CO. No.51/Mum/2019 Arising out of आयकर अपील सुं./ I.T.A. No. 1192/Mum/2018 (धििाारण वर्ा / Assessment Year : 2014-15 M/s. Ameya Logist…

DCIT - 10(1)(1), Mumbai vs. Hinduja Ventures Ltd., Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 2992/MUM/2018[2012-13]Status: DisposedITAT Mumbai13 May 2019AY 2012-13

Bench: Shri Sandeep Gosain & Shri Rajesh Kumar

For Appellant: Shri Hari Raheja, A.RFor Respondent: Shri Manoj Kumar Singh, D.R

Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “H”, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA Nos.2992 & 2993/M/2018 Assessment Years: 2012-13 & 2013-14 DCIT-10(1)(1), M/s. Hinduja Ventures Room No.209, Ltd., 2nd Floor, 49/50, IN Centre, 12th Vs. Aayakar Bhavan, Road, MIDC, M.K. Road, Andheri (E), Mumbai - 400020 Mumbai – 400 093 PAN: AAACH2058N (Appellant) (Respondent) Present for: Assessee by : Shri Hari Raheja, A.R. Revenue by : Shri Manoj Kumar Singh, D.R. Date of Hearing : 08.05.2019 Date of Pronouncement : 13.05.2019 O R D E R Per Rajesh Kumar, A…

Welspun Steel Ltd, Mumbai vs. DCIT Cen Cir 3(3), Mumbai

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

ITA 223/MUM/2018[2014-15]Status: DisposedITAT Mumbai13 May 2019AY 2014-15

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2014-15

For Appellant: Shri Minesh N. Shah, A.RFor Respondent: Shri Choudhary Araunkumar Singh, D.R

Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER Assessment Year: 2014-15 M/s. Welspun Steel Ltd., DCIT, 4th Floor, Welspun House, Central Circle-3(3), B-Wing, Kamala Mill Air India Building, Compound, Vs. 19th Floor, S.B. Marg, Nariman Point, Lower Parel, Mumbai - 400021 Mumbai – 400 013 PAN: AAACW 5308G (Appellant) (Respondent) Assessment Year: 2014-15 DCIT, M/s. Welspun Steel Ltd., Central Circle-3(3), Welspun House, 4th Room No.1923, Floor, Air India Building, Vs. B-Wing, Kamala City, 19th Floor, S.B. Marg, Na…

Piramal Healthcare Ltd, Mumbai vs. DCIT 7(1), Mumbai

The appeal of the revenue is partly allowed for statistical purposes in terms of our aforesaid observations

ITA 1257/MUM/2014[2009-10]Status: DisposedITAT Mumbai07 May 2019AY 2009-10

Bench: Shri G.S.Pannu & Shri Ravish Soodpiramal Healthcare Limited Deputy Commissioner Of Income (Now Known As Piramal Enterprises Ltd.) Tax- 7(1) Piramal Tower, Room No. 622, Aayakar Bhavan, Ganpatrao Kadam Marg, Vs. M.K. Road Lower Parel, Mumbai- 400 020 Mumbai – 400 013

For Appellant: Sh. J.D, Mistry, Senior Advocate &For Respondent: S/sh. Bhupendra Kumar Singh &

Section 143(3)Section 35

…P a g e | 1 ITA No.1257 & 1486/Mum/2014 - AY. 2009-10 Piramal Healthcare Limited Vs. DCIT-7(1 DCIT-Circle 7(1) Vs. Piramal Enterprises Ltd. ) IN THE INCOME TAX APPELLATE TRIBUNAL “J” Bench, Mumbai Before Shri G.S.Pannu, Vice President and Shri Ravish Sood, Judicial Member Piramal Healthcare Limited Deputy Commissioner of Income (Now known as Piramal Enterprises Ltd.) Tax- 7(1) Piramal Tower, Room No. 622, Aayakar Bhavan, Ganpatrao Kadam Marg, Vs. M.K. Road Lower Parel, Mumbai- 400 020 Mumbai – 400 013 PAN – AAACN4538P (Appellant) (Respondent) Deputy Commissioner of Income Piramal Healthcare Limited Tax- 7(1)Room…

Britannia Industries Limited, Kolkata vs. DCIT, Circle - 7(1), Kolkata

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

ITA 2235/KOL/2017[2013-14]Status: DisposedITAT Kolkata03 May 2019AY 2013-14

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2235/Kol/2017 ("नधा"रणवष" / Assessment Year:2013-14)

For Appellant: Priyanka Salarpuria, FCAFor Respondent: Dr. P. K. Srihari, CIT DR

Section 115JSection 143(3)Section 144C(13)Section 144C(5)Section 14ASection 14A(2)Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.2235/Kol/2017 ("नधा"रणवष" / Assessment Year:2013-14) Britannia Industries Ltd. Vs. DCIT, Circle-7(1), Kolkata C/o, Pramod Kumar Saraf, Advocate, 238B, A.J.C. Bose Road, 1st Floor, Kolkata-700020. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AABCB2066 P (Assessee) .. (Revenue) Assessee by :Priyanka Salarpuria, FCA Respondent by : Dr. P. K. Srihari, CIT DR सुनवाईक"तार"ख/ Date of Hearing : 07/02/2019 घोषणाक"तार"ख/Date of Pronouncement :03/05/2019 आदेश / O R D E R Per Dr. A. L. Saini: The captio…

Nadathur Estates Pvt Ltd, Bengaluru vs. Assistant Commissioner of Income Tax, Circle-5(1)(1), Bengaluru

Appeal of the assessee is allowed for statistical purposes

ITA 268/BANG/2018[2013-14]Status: DisposedITAT Bangalore03 May 2019AY 2013-14

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Smarak Swain, JCIT(DR)

Section 10(34)Section 143(1)Section 143(2)Section 143(3)Section 14ASection 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER and SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA Nos.267 & 268/Bang/2018 (Assessment years: 2011-12 & 2013-14) M/s.Nadathur Estates Pvt. Ltd. 3rd Floor, Nadathur Palace, Plot No.23, 8th Main, 3rd Block, Jayanagar, Bengaluru-560011. … Appellant PAN:AABCN 0228P Vs. Assistant Commissioner of Income-tax, Circle 5(1)(1), Bengaluru. … Respondent Appellant by : Shri Padamchand Khincha, CA. Respondent by : Shri Smarak Swain, JCIT(DR) Date of hearing: 25/04/2019 Date of pronouncement: 03/05/2019 O R D E R Per PAVAN KUMA…

Nadathur Estates Pvt Ltd, Bengaluru vs. Assistant Commissioner of Income Tax, Circle-5(1)(1), Bengaluru

Appeal of the assessee is allowed for statistical purposes

ITA 267/BANG/2018[2011-12]Status: DisposedITAT Bangalore03 May 2019AY 2011-12

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Smarak Swain, JCIT(DR)

Section 10(34)Section 143(1)Section 143(2)Section 143(3)Section 14ASection 234B

Joint Commissioner of Income Tax (OSD) 4(1)(1), Mumbai vs. Fortune Financial Services (India) Limited, Mumbai

In the result, the appeal is partly allowed

ITA 1974/MUM/2018[2013-14]Status: DisposedITAT Mumbai30 Apr 2019AY 2013-14

Bench: Shri Sandeep Gosain () & Shri N.K. Pradhan () Assessment Year: 2013-14 Jt. Commissioner Of Fortune Financial Income Tax-(Osd) Vs. Services(India) Ltd., 2Nd Floor, 4(1)(1), Room No. 640, 6Th Kk Chambers, Sir Pt Marg, Floor, Aayakar Bhavan, Fort, Mumbai-400001. M.K. Rd. Mumbai-400020. Pan No. Aacfs0610 Appellant Respondent

For Appellant: Mr. Anuj Kisnadwala, ARFor Respondent: Mr. Rajeev K. Gubgotra, DR

Section 10(34)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI SANDEEP GOSAIN (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2013-14 Jt. Commissioner of Fortune Financial Income Tax-(OSD) Vs. Services(India) Ltd., 2nd Floor, 4(1)(1), Room No. 640, 6th KK Chambers, Sir PT Marg, Floor, Aayakar Bhavan, Fort, Mumbai-400001. M.K. Rd. Mumbai-400020. PAN No. AACFS0610 Appellant Respondent Revenue by : Mr. Rajeev K. Gubgotra, DR Assessee by : Mr. Anuj Kisnadwala, AR Date of Hearing : 16/04/2019 Date of pronouncement: 30/04/2019 ORDER PER N.K. PRADHAN, AM This is an appeal fil…

Infrastructure Leasing & Financial Services Ltd., Mumbai vs. Addl. CIT, Range-10(1), Mumbai

In the result, appeals filed by the Revenue for all assessment years are partly

ITA 3339/MUM/2011[2005-06]Status: DisposedITAT Mumbai30 Apr 2019AY 2005-06

Bench: Shri G. Manjunatha & Shri Ravish Sood, Assessment Years: 2005-06 Addl. Commissioner Of Infrastructure Leasing & Income Tax-Range 10(1) Financial Services Limited बनाम/ Mumbai The Il&Fs Financial Center Vs. Plot No. C-22, G Block Bandra Kurla Complex Bandra (E) Mumbai 400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaaci-0989-F Assessment Years: 2005-06 Infrastructure Leasing & Addl. Commissioner Of Financial Services Limited Income Tax-Range 10(1) बनाम/ The Il&Fs Financial Center Mumbai Vs. Plot No. C-22, G Block Bandra Kurla Complex Bandra (E) Mumbai 400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaaci-0989-F Assessment Years: 2006-07 Addl. Commissioner Of Infrastructure Leasing & Income Tax-Range 10(1) Financial Services Limited बनाम/ Mumbai The Il&Fs Financial Center Vs. Plot No. C-22, G Block Bandra Kurla Complex Bandra (E) Mumbai 400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaaci-0989-F

Section 10(230)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “C”, MUMBAI Before Shri G. MANJUNATHA, Accountant Member and Shri RAVISH SOOD, Judicial Member, Assessment Years: 2005-06 ADDL. COMMISSIONER OF INFRASTRUCTURE LEASING & INCOME TAX-Range 10(1) FINANCIAL SERVICES LIMITED बनाम/ Mumbai The IL&FS Financial Center Vs. Plot No. C-22, G Block Bandra Kurla Complex Bandra (E) Mumbai 400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. AAACI-0989-F Assessment Years: 2005-06 INFRASTRUCTURE LEASING & ADDL. COMMISSIONER OF FINANCIAL SERVICES LIMITED INCOME TAX-Range 10(1) बनाम/ The IL&FS Financial Center Mumbai Vs. Plot No.…

Philip Capital (India) P.Ltd, Mumbai vs. ACIT Cir 4(2), Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 4128/MUM/2016[2010-11]Status: DisposedITAT Mumbai24 Apr 2019AY 2010-11

Bench: Shri Ravish Sood & Shri N.K. Pradhanphilip Capital (India) Pvt. Ltd. Acit, Circle 4(2) (Formerly Known As Mf Room No. 669, Global Sify Securities India Aayakar Bhavan Private Limited) No. 1, 18Th M.K. Road, Floor, Urmi Estate, 95 Vs. Mumbai – 20 Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013

For Appellant: Shri Nishant Thakkar, &For Respondent: Shri Abi Rama Kartikiyen, D.R

Section 143(1)Section 143(2)Section 143(3)Section 14ASection 250(6)Section 271(1)(c)Section 68

…der Rule 8D(2)(iii) only those investments which had yielded tax free income during the year are to be considered. Our aforesaid view is fortified by the order of the “Special Bench” of the ITAT, Delhi in the case of ACIT Vs. Vireet Investment (P) Ltd. (2017) 82 Taxmann.com 415 (Delhi-Trib) (SB). In terms of our aforesaid P a g e | 7 ITA No. 4128/Mum/2016 AY. 2010-11 Philip Capital (India) Pvt. Ltd. Vs. ACIT, Circle 4(2) observations, we are of the considered view that the disallowance under Sec. 14A r.w. Rule 8D(2)(iii) shall be computed after excluding the investments which had not yielded any exempt income du…