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 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.

Zen Securities Limited, Hyderabad vs. ITO, Ward-17(4), Hyderabad

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

ITA 359/HYD/2017[2012-13]Status: DisposedITAT Hyderabad15 Nov 2018AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2012-13 Zen Securities Ltd., Hyderabad. Vs. Income-Tax Officer, Ward – 17(4), Hyderabad. Pan – Aaacz0682Q (Appellant) (Respondent)

For Appellant: Shri V. Raghavendra RaoFor Respondent: Date of hearing
Section 143(1)Section 143(2)Section 14A

…rrect because the value of investments in shares from which exempt income does not form part of the total income, has also been included in the computation. Referring to the decision of the Special Bench of Tribunal in the case of ACIT Vs. Vireet Investments, 165 ITR 27 (Delhi), submitted that investments which have not yielded exempt income should not be considered for averaging of the assets. Assessee also filed a statement of investments and dividend. It contains the details of investment which earned dividend income, which is placed on record as part of paper book. 8. Ld. DR, on the other hand, relied on the…

M/S. Kpit Technologies Limited, Pune vs. Deputy Commissioner of Income -Tax

In the result, the appeal is partly allowed

ITA 2614/PUN/2016[2010-11]Status: DisposedITAT Pune02 Nov 2018AY 2010-11

Bench: Shri R.S. Syal & Shri Vikas Awasthy, Jm

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Pankaj Garg
Section 10ASection 14ASection 32

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI VIKAS AWASTHY, JM आयकर अपील अपील संसंसंसं. / ITA No.2614/PUN/2016 आयकर आयकर आयकर अपील अपील िनधा"रण वष" वष" / Assessment Year : 2010-11 िनधा"रण िनधा"रण िनधा"रण वष" वष" M/s. KPIT Technologies Limited (erstwhile KPIT Cummins Global Business Solutions Ltd.), Plot No.35 & 36, MIDC, Phase-1, Rajiv Gandhi Infotech Park, Hinjewadi, Pune – 411 057 ………अपीलाथ"/Appellant PAN : AACCK6967F Vs. DCIT, Circle-11(1), …….""यथ" /Respondent Pune Assessee by : Shri Kishor Phadke Revenue by : Shri Pankaj Garg सुनवाई क" तारीख / घ…

DCIT, Cir-2(2), Kolkata vs. M/S Nomura Research Institute & Financial Technologies Pvt. Ltd., Kolkata

In the result, the appeal of the assessee in ITA No

ITA 485/KOL/2016[2011-2012]Status: DisposedITAT Kolkata26 Oct 2018AY 2011-2012

Bench: Hon’Ble Shri A.T.Varkey, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A No. 284/Kol/2016 Assessment Year : 2011-12 Nomura Research Institute Financial Tech.(I) Pvt. Ltd. -Vs- Dcit, Circle-2(2), Kolkata (Formerly Anshin Software Pvt. Ltd.) [Pan: Aadca 8967 A] (Appellant) (Respondent) I.T.A No. 485/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-2(2), Kolkata -Vs- Nomura Research Institute Financial Tech.(I) Pvt. Ltd. (Formerly Anshin Software Pvt. Ltd.) [Pan: Aadca 8967 A] (Appellant) (Respondent)

For Appellant: Shri J.P. Khaitan, Senior AdvocateFor Respondent: Shri G. Mallikarjuna, CIT DR
Section 139(5)Section 143(3)Section 144C(5)Section 92Section 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Shri A.T.Varkey, JM & Hon’ble Shri M.Balaganesh, AM ] I.T.A No. 284/Kol/2016 Assessment Year : 2011-12 Nomura Research Institute Financial Tech.(I) Pvt. Ltd. -vs- DCIT, Circle-2(2), Kolkata (formerly Anshin Software Pvt. Ltd.) [PAN: AADCA 8967 A] (Appellant) (Respondent) I.T.A No. 485/Kol/2016 Assessment Year : 2011-12 DCIT, Circle-2(2), Kolkata -vs- Nomura Research Institute Financial Tech.(I) Pvt. Ltd. (formerly Anshin Software Pvt. Ltd.) [PAN: AADCA 8967 A] (Appellant) (Respondent) For the Appellant : Shri J.P. Khaitan, Senior…

Nomura Research Institute Financial Technologies India Pvt. Ltd. (Formerly Knows As Anshin Software Pvt. Ltd., Kolkata vs. DCIT, Circle - 2(2), Kolkata

In the result, the appeal of the assessee in ITA No

ITA 284/KOL/2016[2011-2012]Status: DisposedITAT Kolkata26 Oct 2018AY 2011-2012

Bench: Hon’Ble Shri A.T.Varkey, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A No. 284/Kol/2016 Assessment Year : 2011-12 Nomura Research Institute Financial Tech.(I) Pvt. Ltd. -Vs- Dcit, Circle-2(2), Kolkata (Formerly Anshin Software Pvt. Ltd.) [Pan: Aadca 8967 A] (Appellant) (Respondent) I.T.A No. 485/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-2(2), Kolkata -Vs- Nomura Research Institute Financial Tech.(I) Pvt. Ltd. (Formerly Anshin Software Pvt. Ltd.) [Pan: Aadca 8967 A] (Appellant) (Respondent)

For Appellant: Shri J.P. Khaitan, Senior AdvocateFor Respondent: Shri G. Mallikarjuna, CIT DR
Section 139(5)Section 143(3)Section 144C(5)Section 92Section 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Shri A.T.Varkey, JM & Hon’ble Shri M.Balaganesh, AM ] I.T.A No. 284/Kol/2016 Assessment Year : 2011-12 Nomura Research Institute Financial Tech.(I) Pvt. Ltd. -vs- DCIT, Circle-2(2), Kolkata (formerly Anshin Software Pvt. Ltd.) [PAN: AADCA 8967 A] (Appellant) (Respondent) I.T.A No. 485/Kol/2016 Assessment Year : 2011-12 DCIT, Circle-2(2), Kolkata -vs- Nomura Research Institute Financial Tech.(I) Pvt. Ltd. (formerly Anshin Software Pvt. Ltd.) [PAN: AADCA 8967 A] (Appellant) (Respondent) For the Appellant : Shri J.P. Khaitan, Senior…

Sheba Properties Ltd., Mumbai vs. DCIT - 2(3)(2), Mumbai

The appeal stand allowed

ITA 5289/MUM/2016[2013-14]Status: DisposedITAT Mumbai10 Oct 2018AY 2013-14

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.5289/Mum/2016 (िनधा"रणवष" / Assessment Year: 2013-14) Sheba Properties Limited Deputy Commissioner Of Income बनाम/ 3Rd Floor, Nanavati Mahalaya Tax-2(3)(2) 18, Homi Mody Street 5Thfloor, Aaykar Bhavan Vs. Hutatma Chowk, Mumbai-400 001 M.K.Road, Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaecs-0591-F (अपीलाथ"/Appellant) (""थ" / Respondent) :

For Appellant: Rajan R. Vora, Ld.ARFor Respondent: Chaudhary Arun kumar, Ld. DR
Section 10(34)Section 115JSection 143(3)Section 14A

…is related with adjustment of disallowance u/s 14A while arriving at Book Profits u/s 115JB. We find that this issue stood squarely covered in assessee’s favor by the judgment of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. Upon perusal of the same, we find that Special Bench, after considering two contrary decision of Hon’ble Delhi High Court titled as CIT Vs. Goetze (India) Ltd. [2014 361 ITR 505] & PCIT Vs. Bhushan Steel Ltd. [ITA 593/2015 dated 29/09/2015], took the view favorable to the assessee in terms of ratio of decision of Hon’ble Supreme Court re…

Bapa Estate P.Ltd, Mumbai vs. ACIT Cen Cir 38, Mumbai

The appeal stand allowed in terms of our above order

ITA 1490/MUM/2015[2010-11]Status: DisposedITAT Mumbai10 Oct 2018AY 2010-11

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./I.T.A. No.1490/Mum/2015 (िनधा"रणवष" / Assessment Year: 2010-11) Bapa Real Estate Private Limited Assistant Commissioner Of बनाम/ 156, Maker Chamber Vi Income Tax, Central Circle-38 220, Jamnalal Bajaj Marg Aaykar Bhavan, M.K. Road Vs. Nariman Point, Mumbai-400 021 Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcb-4559-M (अपीलाथ"/Appellant) (""थ" / Respondent) :

For Appellant: Reepal G. Tralshawala, Ld. ARFor Respondent: Manoj Kumar Singh, Ld. DR
Section 115JSection 143(3)Section 14A

…, interest disallowance as offered by the assessee was sufficient. The expenses disallowance as computed by the assessee has been justified by placing reliance on the judgment of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. Per Contra, Ld. Departmental Representative [DR], Shri Manoj Kumar Singh, justified the stand of lower authorities. 7. We have carefully heard the rival contentions and perused relevant material on record including judicial pronouncements cited before us. So far as the expense disallowance u/r 8D(2)(iii) for Rs.3.25 Lacs as suo-moto offe…

ACIT Corporate Circle 1 (1), Chennai vs. M/S Abi Showatech India Ltd, Chennai

In the result, the Revenue’s appeals in ITA Nos

ITA 481/CHNY/2018[2014-15]Status: DisposedITAT Chennai09 Oct 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. Nos. 480 & 481/Chny/2018 "नधा"रणवष"/Assessment Years : 2013-14 & 2014-15

For Appellant: Shri S. Jaganathan, FCAFor Respondent: Shri. D. Rohini, JCIT
Section 10Section 14ASection 32(1)(iia)

…आयकर अपील"य अ"धकरण ,’ए’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI "ी एन.आर.एस .गणेशन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"य के सम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकरअपीलसं/.I.T.A. Nos. 480 & 481/Chny/2018 "नधा"रणवष"/Assessment Years : 2013-14 & 2014-15 Assistant Commissioner of Income Tax, M/s. ABI Showatech India Ltd., Corporate Circle -1(1), Vs. 67, Stone Acre, Chamiers Road, Chennai – 600 034. R A Puram, Chennai – 600 028. [PAN: AABCA 8160B] (अपीलाथ"/Appellant) (""यथ"/Respondent) Revenue by : Shri. D. Rohini, JCIT Assesseeb…

ACIT Corporate Circle 1 (1), Chennai vs. M/S Abi Showatech India Ltd, Chennai

In the result, the Revenue’s appeals in ITA Nos

ITA 480/CHNY/2018[2013-14]Status: DisposedITAT Chennai09 Oct 2018AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. Nos. 480 & 481/Chny/2018 "नधा"रणवष"/Assessment Years : 2013-14 & 2014-15

For Appellant: Shri S. Jaganathan, FCAFor Respondent: Shri. D. Rohini, JCIT
Section 10Section 14ASection 32(1)(iia)

…आयकर अपील"य अ"धकरण ,’ए’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI "ी एन.आर.एस .गणेशन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"य के सम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकरअपीलसं/.I.T.A. Nos. 480 & 481/Chny/2018 "नधा"रणवष"/Assessment Years : 2013-14 & 2014-15 Assistant Commissioner of Income Tax, M/s. ABI Showatech India Ltd., Corporate Circle -1(1), Vs. 67, Stone Acre, Chamiers Road, Chennai – 600 034. R A Puram, Chennai – 600 028. [PAN: AABCA 8160B] (अपीलाथ"/Appellant) (""यथ"/Respondent) Revenue by : Shri. D. Rohini, JCIT Assesseeb…

Astec Life Sciences Ltd, Mumbai vs. DCIT 2(1), Mumbai

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

ITA 955/MUM/2016[2009-10]Status: DisposedITAT Mumbai05 Oct 2018AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negim/S. Astec Lifesciences Ltd. D C I T - 2(1) 3Rd Floor, Godrej One Room No. 561, 5Th Floor Vs. Pirojshnagar,Vikroli (E) Aayakar Bhavan, M.K. Road Mumbai 400020 Mumbai 400020 Pan – Aaaca4832D Appellant Respondent

For Appellant: S/s. Jitendra Jain, Gopal SharmaFor Respondent: Shri Satishchandra Rajore
Section 133ASection 143(2)Section 147Section 148

…(2017) 398 ITR 250. The assessee also relied upon the following case law: - i. Faisal Hameed vs. ITO (2013) 256 CTR 429 (J & K) ii. International Air Transport Association vs. ADIT (2016) 179 TTJ 254 (Mum-Trib) iii. ACIT vs. Vireet Investment (P) Ltd. (2017) 154 DTR 241 (Del) (SB). iv. Vinod Agarwal vs. Pr. CIT (2018) 61 ITR(T) 598 (Kol-Trib) v. International Society for Krishna Consciousness vs. DDIT (Exemptions) (2008) 15 DTR 633 (Bang-Trib) vi. N. Balakrishnan vs. M. Krishnamurthy (1998) 7 SCS 123 (SC) 9. The learned D.R., on the other hand, strongly supporting the order of the CIT(A) submitted that the CIT(…

Tata Industries Ltd, Mumbai vs. Asst CIT RG 2(3), Mumbai

In the result, appeal filed by the assessee in ITA

ITA 1855/MUM/2015[2011-12]Status: PendingITAT Mumbai28 Sept 2018AY 2011-12

Bench: Shri Mahavir Singh() & Shri G Manjunatha ()

Section 115JSection 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI Before Shri Mahavir Singh(JUDICIAL MEMBER) AND Shri G Manjunatha (ACCOUNTANT MEMBER) I.T.A No.7595/Mum/2013 - AY 2010-11 I.T.A No.1855/Mum/2015 - AY 2011-12 Tata Industries Limited vs The ACIT, Range 2(3) 24, Bombay House Mumbai-20 Homi Modi Street, Fort Mumbai 400 001 PAN : AAACT4058L APPELLANT RESPONDENT I.T.A No.612/Mum/2014 - AY 2010-11 I.T.A No.1763/Mum/2015 - AY 2011-12 The ACIT- 2(3) / Dy.CIT- vs Tata Industries Limited 2(3)(1) 24, Bombay House Mumbai-20 Homi Modi Street, Fort Mumbai 400 001 APPELLANT RESPONDENT Assessee by Smt. Aarti…

ACIT 2(3), Mumbai vs. Tata Industries Ltd, Mumbai

In the result, appeal filed by the assessee in ITA

ITA 612/MUM/2014[2010-11]Status: PendingITAT Mumbai28 Sept 2018AY 2010-11

Bench: Shri Mahavir Singh() & Shri G Manjunatha ()

Section 115JSection 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI Before Shri Mahavir Singh(JUDICIAL MEMBER) AND Shri G Manjunatha (ACCOUNTANT MEMBER) I.T.A No.7595/Mum/2013 - AY 2010-11 I.T.A No.1855/Mum/2015 - AY 2011-12 Tata Industries Limited vs The ACIT, Range 2(3) 24, Bombay House Mumbai-20 Homi Modi Street, Fort Mumbai 400 001 PAN : AAACT4058L APPELLANT RESPONDENT I.T.A No.612/Mum/2014 - AY 2010-11 I.T.A No.1763/Mum/2015 - AY 2011-12 The ACIT- 2(3) / Dy.CIT- vs Tata Industries Limited 2(3)(1) 24, Bombay House Mumbai-20 Homi Modi Street, Fort Mumbai 400 001 APPELLANT RESPONDENT Assessee by Smt. Aarti…

Tata Petrodyne Ltd, Mumbai vs. Asst CIT 2(3), Mumbai

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

ITA 4887/MUM/2012[2008-09]Status: DisposedITAT Mumbai28 Sept 2018AY 2008-09

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Firoz B. AndhyarujinaFor Respondent: Shri V. Justin
Section 10(35)Section 115JSection 14ASection 154Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ITA no.4887/Mum./2012 (Assessment Year : 2008–09) Tata Petrodyne Ltd. The Metropolitan Building 3rd Floor, Bandra Kurla Complex ……………. Appellant Bandra (E), Mumbai 400 051 PAN – AAACT0090N v/s Asstt. Commissioner of Income Tax ……………. Respondent Circle–2(3), Mumbai ITA no.5571/Mum./2012 (Assessment Year : 2008–09) Asstt. Commissioner of Income Tax ……………. Appellant Circle–2(3), Mumbai v/s Tata Petrodyne Ltd. The Metropolitan Building 3rd Floor, Bandra Kurla Complex ……………. Respo…

M/S.Acumen Capital Market India Ltd, Ernakulam vs. The ITO, Kochi

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

ITA 37/COCH/2018[2013-14]Status: DisposedITAT Cochin24 Sept 2018AY 2013-14

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No. 37/Coch/2018 Assessment Year : 2013-14 M/S. Acumen Capital Market Vs. The Income Tax Officer, Corporate India Ltd., Ward-1(1), Kochi. S.T. Reddiar & Sons Bldg., 3Rd Floor, Veekshanam Road, Ernakulam, Kochi-682 035. [Pan: Aabcp 6449] (Assessee-Appellant) (Revenue-Respondent) Assessee By Shri P.M. Veeramani, Ca Revenue By Shri Shantham Bose, Cit(Dr) Date Of Hearing 17/09/2018 Date Of Pronouncement 24/09/2018 O R D E R

Section 115JSection 143(3)Section 14ASection 263

…1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM I.T.A. No. 37/Coch/2018 Assessment Year : 2013-14 M/s. Acumen Capital market Vs. The Income Tax Officer, Corporate India Ltd., Ward-1(1), Kochi. S.T. Reddiar & Sons Bldg., 3rd Floor, Veekshanam Road, Ernakulam, Kochi-682 035. [PAN: AABCP 6449] (Assessee-Appellant) (Revenue-Respondent) Assessee by Shri P.M. Veeramani, CA Revenue by Shri Shantham Bose, CIT(DR) Date of hearing 17/09/2018 Date of pronouncement 24/09/2018 O R D E R Per CHANDRA POOJARI, AM: This appeal filed by the assessee is…

DCIT, New Delhi vs. M/S Dlf Assets Pvt. Ltd., New Delhi

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

ITA 167/DEL/2016[2011-12]Status: DisposedITAT Delhi24 Sept 2018AY 2011-12

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.Narasimha Chary

Section 1Section 115Section 14Section 14ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’ NEW DELHI BEFORE SHRI G.D. AGRAWAL, HON’BLE PRESIDENT & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER ITA No-167/Del/2016 (Assessment Year: 2011-12) DCIT vs M/s. DLF Assets Pvt. Ltd. 1E, Circle – 7 (1) Naaz Cinema Complex, New Delhi Jhandewalan Extn. New Delhi -110055 PAN AACCD4923A Appellant Assessee Revenue by Ms. Shefali Swaroop, CIT (DR) Assessee by Sh. Satyajeet Goyal, CA Date of Hearing 19.09.2018 Date of Pronouncement 24.09.2018 ORDER PER K. NARASIMHA CHARY, J.M. This is an appeal filed by the assessee against the order dated 20.10.2015 passed by the le…

ACIT 4(3)(1), Mumbai vs. Kotak Securities Ltd, Mumbai

ITA 7005/MUM/2016[2012-13]Status: DisposedITAT Mumbai19 Sept 2018AY 2012-13

Bench: Shri Manoj Kumar Aggarwal, Am & Shri Ravish Sood, Jm आयकरअपीलसं./I.T.A. No.6666/Mum/2016 (िनधा"रणवष" / Assessment Year: 2012-13) Kotak Securities Limited Deputy Commissioner Of 27, Bkc, C-27 Income Tax Range 4(3)(1) बनाम/ G Block, Bandra Kurla Complex Room No. 649, 6Th Floor Vs. Bandra (East) Aaykar Bhavan, M.K. Road Mumbai- 400 051 Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaack-3436-F (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.7005/Mum/2016 (िनधा"रणवष" / Assessment Year: 2012-13) Deputy Commissioner Of Kotak Securities Limited Income Tax Range 4(3)(1) 27, Bkc, C-27 बनाम/ Room No. 649, 6Th Floor G Block, Bandra Kurla Complex Vs. Bandra (East) Aaykar Bhavan, M.K. Road Mumbai- 400 051 Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaack-3436-F (अपीलाथ"/Appellant) (""थ" / Respondent) :

For Appellant: Farrokh V.Irani & Chetan Kaka, Ld. ARsFor Respondent: B.Sriniwas & Manoj Kumar Singh, Ld. DRs
Section 143(3)

…er been contended that those investments which have not yielded any exempt income during the impugned AY were required to be excluded for computations in terms of the judgment of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. Per Contra, Ld. CIT-DR submitted that the computations were to be made only as per the formula prescribed under the law. 4.4 We have carefully heard the rival contentions and perused relevant material on record including judicial pronouncements as cited before us. So far as the legal issue as raised by Ld. Sr. Counsel is concerned, we fi…

Kotak Securities Ltd, Mumbai vs. DCIT RG 4(3)(1), Mumbai

ITA 6666/MUM/2016[2012-13]Status: DisposedITAT Mumbai19 Sept 2018AY 2012-13

Bench: Shri Manoj Kumar Aggarwal, Am & Shri Ravish Sood, Jm आयकरअपीलसं./I.T.A. No.6666/Mum/2016 (िनधा"रणवष" / Assessment Year: 2012-13) Kotak Securities Limited Deputy Commissioner Of 27, Bkc, C-27 Income Tax Range 4(3)(1) बनाम/ G Block, Bandra Kurla Complex Room No. 649, 6Th Floor Vs. Bandra (East) Aaykar Bhavan, M.K. Road Mumbai- 400 051 Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaack-3436-F (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.7005/Mum/2016 (िनधा"रणवष" / Assessment Year: 2012-13) Deputy Commissioner Of Kotak Securities Limited Income Tax Range 4(3)(1) 27, Bkc, C-27 बनाम/ Room No. 649, 6Th Floor G Block, Bandra Kurla Complex Vs. Bandra (East) Aaykar Bhavan, M.K. Road Mumbai- 400 051 Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaack-3436-F (अपीलाथ"/Appellant) (""थ" / Respondent) :

For Appellant: Farrokh V.Irani & Chetan Kaka, Ld. ARsFor Respondent: B.Sriniwas & Manoj Kumar Singh, Ld. DRs
Section 143(3)

…er been contended that those investments which have not yielded any exempt income during the impugned AY were required to be excluded for computations in terms of the judgment of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. Per Contra, Ld. CIT-DR submitted that the computations were to be made only as per the formula prescribed under the law. 4.4 We have carefully heard the rival contentions and perused relevant material on record including judicial pronouncements as cited before us. So far as the legal issue as raised by Ld. Sr. Counsel is concerned, we fi…

The ACIT, Gnr Circle, Gandhinagar vs. M/S. Gujarat Industrial Investment Corporation Ltd., Gandhinagar

Appeal of the Revenue is dismissed

ITA 419/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2008-09

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

The ACIT, Gnr Circle, Gandhinagar vs. M/S. Gujarat Industrial Investment Corporation Ltd., Gandhinagar

Appeal of the Revenue is dismissed

ITA 2556/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

M/S. Gujarat Industrial Investment Corporation Ltd., Gandhinagar vs. The Jt.CIT., Gnr Range, Gandhinagar

Appeal of the Revenue is dismissed

ITA 2473/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

M/S. Gujarat Industrial Investment Corporation Ltd., Gandhinagar vs. The Addl.CIT., Gandhinagar Circle, Gandhinagar

Appeal of the Revenue is dismissed

ITA 208/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2008-09

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…