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 366,470 Indian tax judgments — from 2017 to 2026.

Also referred to as

ACIT v. Vireet Investment Pvt. Ltd. · Section 14A · Section 115JB · Rule 8D · disallowance for exempt income · book profits · Minimum Alternate Tax · MAT · average value of investments · investments yielding exempt income · special bench · Delhi Tribunal

Also reported as

165 ITR 27154 DTR 241165 ITD 26

Sections most often in play

Section 14ASection 115JBSection 143(3)Section 8DSection 250Section 37(1)Section 154Section 10(34)

Issues it is cited on

section 115jb(2)disallowance of interest expenditurebook profitssection 14a(2)disallowance under section 14asection 115jdisallowance u/s 14asection 115jbsection 14asection 92btransfer pricing adjustmentarm's length price

Judgments citing ACIT v. Vireet Investment Pvt. Ltd.

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

Appeal of the Revenue is dismissed

ITA 1170/AHD/2011[2007-08]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2007-08

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 Dcitgandhinagar Circle, Gandhinagar vs. M/S. Gujarat Industrial Investment Corporation, Gandhinagar

Appeal of the Revenue is dismissed

ITA 1115/AHD/2011[2007-08]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2007-08

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…

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

The appeal stand partly allowed

ITA 4555/MUM/2017[2012-13]Status: DisposedITAT Mumbai12 Sept 2018AY 2012-13

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

For Appellant: Anuj Kisnadwala, Ld. ARFor Respondent: Pooja Swaroop, Ld. Sr. DR
Section 143(3)Section 14A

…justified. Regarding expense disallowance, it was submitted that only income yielding investments were to be considered to arrive at the said disallowance in terms of decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415], a copy of which has been placed on record. The same has been controverted by Ld. DR, Ms. ITA.No.4555/Mum/2017 Fortune Financial Services (India) Limited Assessment Year-2012-13 Pooja Swaroop, by submitting that disallowance was attracted as per statutory mandate of Rule 8D. 5. We have carefully considered the rival contentions and perus…

Sbi Capital Markets Ltd, Mumbai vs. DCIT Ltu-1, Mumbai

The appeal stand allowed for statistical purposes

ITA 2098/MUM/2017[2012-13]Status: DisposedITAT Mumbai07 Sept 2018AY 2012-13

Bench: Shri Joginder Singh, Jm & Shri Manoj Kumar Aggarwal, Am

For Appellant: Rajnikant Chaniyari, Ld. ARFor Respondent: V.K.Chaturvedi, Ld. Sr. DR
Section 115JSection 143(3)Section 14A

…. AR, by way of written submissions, has pleaded for exclusion of those investments which have not yielded any exempt income during the impugned AY on the strength of decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. Reliance has also been placed on the judgment of Chettinad Logistics (P) Ltd. Vs. CIT [2017 80 Taxmann.com 221 Madras]. It has also been submitted that certain investments which do not have any potential to yield any exempt income, should be excluded while arriving at the impugned disallowance. The Ld. DR has submitted that the disallowa…

DCIT Cir 2(2)(1), Mumbai vs. L & T Mhi Boilers P.Ltd, Mumbai

Appeal stands dismissed

ITA 712/MUM/2016[2009-10]Status: DisposedITAT Mumbai07 Sept 2018AY 2009-10

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./I.T.A. No.712/Mum/2016 (िनधा"रणवष" / Assessment Year:2009-10) Deputy Commissioner Of Income Tax L & T Mhi Boilers Private Limited 3Rd Floor, L & T House, N.M.Marg, Circle-2(2)(1) बनाम/ Room No.545, Aaykar Bhavan, Vs. Ballard Estate, Fort M.K.Road, Mumbai-400 020 Mumbai-400 098 "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aabcl-2635-C (अपीलाथ"/Appellant) (""थ" / Respondent) : Revenue By : R.P.Meena, Ld.Cit Dr Assessee By : Vijay Mehta, Ld. Ar सुनवाई की तारीख/ : 10/07/2018 Date Of Hearing घोषणा की तारीख / : 07/09/2018 Date Of Pronouncement

For Appellant: Vijay Mehta, Ld. ARFor Respondent: R.P.Meena, Ld.CIT DR
Section 143(3)Section 14A

…idering those investments which have yielded exempt income during the impugned AY. The same is in line with the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet 11 L & T MHI Boilers Pvt.Ltd Assessment Year-2009-10 Investment (P.) Ltd. [82 Taxmann.com 415] and therefore, we find no infirmity in the order of Ld. CIT(A) in deleting the same. This ground of revenue’s appeal stands dismissed. 8. In nutshell, the revenue’s appeal stand dismissed. Order pronounced in the open court on 07th September, 2018 (C.N.Prasad) (Manoj Kumar Aggarwal) "ाियकसद" / Judicial Member लेखासद" / Accountant Member…

Nerka Chemicals P. Ltd, Gujrat vs. Asst CIT Cen Cir 38, Mumbai

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

ITA 4423/MUM/2014[2009-10]Status: DisposedITAT Mumbai31 Aug 2018AY 2009-10

Bench: Shri R.C. Sharma, Accountant Mamber & Shri Pawan Singh

For Respondent: Sh. Girish Dave Special
Section 115Section 115JSection 14ASection 2(22)(a)Section 253Section 254(1)Section 28Section 56(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “B”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MAMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No. 4585/Mum/2015(Assessment Year- 2010-11) Nerka Chemical Private Limited, Deputy Commissioner of Income 50-51, B-11, GIDC Estate, Vapi, tax, Central Circle-6(3), District Valsad, Gujarat, Aayakar Bhavan, Vs. PIN - 396195 M.K. Road, Mumbai-400020. PAN: AAACN9337Q (Appellant) (Respondent) Assessee by Sh. P.J. Pardiwala Sr. Advocate with : Sh. Jos Sinhgwi Advocate Sh.Kirit Kamdar-CA Revenue by : Sh. Girish Dave Special Counsel/ Advocate with Sh. Suman Kumar Sr. DR also as…

Finquest Securities P.Ltd, Mumbai vs. Asst CIT 2(1)(2), Mumbai

In the result, assessee’s appeal is partly allowed

ITA 2540/MUM/2017[2012-13]Status: DisposedITAT Mumbai23 Aug 2018AY 2012-13

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwalm/S. Finquest Securities Pvt. Ltd., 602, 6Th Floor,Boston House Suren Road, Andheri (E) ……………. Appellant Mumbai – 400 093 Pan No. Aabcb7028F V/S Asst. Commissioner Of Income Tax (2)(1)(2), 575, 5Th Floor, Aayakar Bhavan, ……………. Respondent M.K.Road, New Marine Lines Mumbai – 400 020

For Appellant: S/Shri V.G.Ginde & Kumar KaleFor Respondent: Shri Rajeev Gubgotra
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER M/s. Finquest Securities Pvt. Ltd., 602, 6th Floor,Boston House Suren Road, Andheri (E) ……………. Appellant Mumbai – 400 093 PAN no. AABCB7028F v/s Asst. Commissioner of Income Tax (2)(1)(2), 575, 5th Floor, Aayakar Bhavan, ……………. Respondent M.K.Road, New Marine Lines Mumbai – 400 020 Assessee by : S/Shri V.G.Ginde & Kumar Kale Revenue by : Shri Rajeev Gubgotra Date of Hearing – 06/08/2018 Date of Order – 23.08.2018 O R D E R PER SAKTIJIT DEY, J.M. This is an appea…

DCIT 3(3)(1), Mumbai vs. Radha Madhav Investment Ltd, Mumbai

Appeal stands allowed to that extent

ITA 1028/MUM/2017[2013-14]Status: DisposedITAT Mumbai27 Jul 2018AY 2013-14

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./I.T.A. No.1028/Mum/2017 (िनधा"रणवष" / Assessment Year: 2013-14) Radha Madhav Investments Limited Deputy Commissioner Of Income 11-A, Mittal Chambers Tax -3(3)(1) बनाम/ Dr. Rajni Patel Marg, Nariman Point Room No.609, 6Th Floor Vs. Mumbai-400 021 Aaykar Bhavan, M.K.Road Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacr-4063-M (अपीलाथ"/Appellant) (""थ" / Respondent) :

For Appellant: Vijay Mehta, Ld. ARFor Respondent: Ram Tiwari, Ld. DR
Section 115JSection 143(3)Section 14A

…ITA No.1028/Mum/2017 Radha Madhav Investments Limited Assessment Year-2013-14 आयकर अपीलीय अिधकरण “डी” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI "ी श""जीत दे,"ाियक सद" एवं "ी मनोज कुमार अ"वाल, लेखा सद" के सम"। BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपीलसं./I.T.A. No.1028/Mum/2017 (िनधा"रणवष" / Assessment Year: 2013-14) Radha Madhav Investments Limited Deputy Commissioner of Income 11-A, Mittal Chambers Tax -3(3)(1) बनाम/ Dr. Rajni Patel Marg, Nariman Point Room No.609, 6th Floor Vs. Mumbai-400 021 Aaykar Bhavan, M.K.Road Mumbai-400 020 "थायीलेखासं./जीआइआरसं…

Real Talent Engineering Pvt Ltd, Chennai vs. DCIT-5(1), Chennai

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

ITA 121/CHNY/2018[2013-14]Status: DisposedITAT Chennai12 Jul 2018AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.121/Chny/2018 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri C. Naresh, CAFor Respondent: Shri A. Sasikumar, JCIT
Section 14A

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.121/Chny/2018 "नधा"रण वष" / Assessment Year : 2013-14 M/s Real Talent Engineering The Deputy Commissioner of Private Ltd., v. Income Tax, No.67, Chamiers Road, Corporate Circle – 5(1), Chennai - 600 028. Chennai. PAN : AAACR 3651 H (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri C. Naresh, CA ""यथ" क"…

DCIT, Cir-6(1), Kolkata vs. M/S. Industrial Investment Bank of India, Kolkata

In the result, the appeals of the revenue are partly allowed for statistical purposes

ITA 894/KOL/2017[2012-13]Status: DisposedITAT Kolkata04 Jul 2018AY 2012-13

Bench: Hon’Ble Shri S.S. Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 Dcit, Circle-6(1), Kolkata -Vs- M/S Industrial Investment Bank Of India [Pan: Aabci 0324 D] (Appellant) (Respondent)

For Appellant: Shri Md. Usman, CIT(DR)For Respondent: Shri Sanjay Bhattacharya, FCA
Section 143(2)Section 143(3)Section 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : KOLKATA [Before Hon’ble Shri S.S. Godara, JM & Hon’ble Shri M.Balaganesh, AM] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 DCIT, Circle-6(1), Kolkata -vs- M/s Industrial Investment Bank of India [PAN: AABCI 0324 D] (Appellant) (Respondent) For the Appellant : Shri Md. Usman, CIT(DR) For the Respondent : Shri Sanjay Bhattacharya, FCA Date of Hearing : 27.06.2018 Date of Pronouncement : 04.07.2018 ORDER Per M.Balaganesh, AM 1. These two appeals by the Revenue arise out of the independent orders of the Learned Commissio…

ACIT, Circle-6(2), Kolkata vs. M/S. PAN Emami Cosmed Ltd., Kolkata

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

ITA 673/KOL/2017[2014-15]Status: DisposedITAT Kolkata04 Jul 2018AY 2014-15

Bench: Hon’Ble Shri P.M.Jagtap, Am & Shri S.S.Viswanethra Ravi, Jm ] Assessment Year : 2014-15

For Appellant: Shri A.Bhattacharjee, Addl. CITFor Respondent: Shri S.K.Agarwal, FCA
Section 115JSection 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH ‘D’ KOLKATA [Before Hon’ble Shri P.M.Jagtap, AM & Shri S.S.Viswanethra Ravi, JM ] Assessment Year : 2014-15 A.C.I.T., Circle-6(2), -versus- M/s PAN Emami Cosmed Ltd. Kolkata Kolkata (PAN: AABCP 5150 G) (Appellant) (Respondent) For the Appellant: Shri A.Bhattacharjee, Addl. CIT For the Respondent: Shri S.K.Agarwal, FCA Date of Hearing : 12.04.2018. Date of Pronouncement : 04.07.2018. ORDER Per S.S.Viswanethra Ravi, JM This is an appeal by the Revenue against the order dated 02.01.2017 passed by C.I.T-(A)-2, Kolkata for A.Y.2014-15. 2. The only issue to be decide…

DCIT, Cir-6(1), Kolkata vs. M/S. Industrial Investment Bank of India, Kolkata

In the result, the appeals of the revenue are partly allowed for statistical purposes

ITA 1871/KOL/2017[2011-12]Status: DisposedITAT Kolkata04 Jul 2018AY 2011-12

Bench: Hon’Ble Shri S.S. Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 Dcit, Circle-6(1), Kolkata -Vs- M/S Industrial Investment Bank Of India [Pan: Aabci 0324 D] (Appellant) (Respondent)

For Appellant: Shri Md. Usman, CIT(DR)For Respondent: Shri Sanjay Bhattacharya, FCA
Section 143(2)Section 143(3)Section 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : KOLKATA [Before Hon’ble Shri S.S. Godara, JM & Hon’ble Shri M.Balaganesh, AM] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 DCIT, Circle-6(1), Kolkata -vs- M/s Industrial Investment Bank of India [PAN: AABCI 0324 D] (Appellant) (Respondent) For the Appellant : Shri Md. Usman, CIT(DR) For the Respondent : Shri Sanjay Bhattacharya, FCA Date of Hearing : 27.06.2018 Date of Pronouncement : 04.07.2018 ORDER Per M.Balaganesh, AM 1. These two appeals by the Revenue arise out of the independent orders of the Learned Commissio…

DCIT, Cir-6(1), Kolkata vs. M/S. Industrial Investment Bank of India, Kolkata

In the result, the appeals of the revenue are partly allowed for statistical purposes

ITA 1870/KOL/2017[2010-11]Status: DisposedITAT Kolkata04 Jul 2018AY 2010-11

Bench: Hon’Ble Shri S.S. Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 Dcit, Circle-6(1), Kolkata -Vs- M/S Industrial Investment Bank Of India [Pan: Aabci 0324 D] (Appellant) (Respondent)

For Appellant: Shri Md. Usman, CIT(DR)For Respondent: Shri Sanjay Bhattacharya, FCA
Section 143(2)Section 143(3)Section 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : KOLKATA [Before Hon’ble Shri S.S. Godara, JM & Hon’ble Shri M.Balaganesh, AM] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 DCIT, Circle-6(1), Kolkata -vs- M/s Industrial Investment Bank of India [PAN: AABCI 0324 D] (Appellant) (Respondent) For the Appellant : Shri Md. Usman, CIT(DR) For the Respondent : Shri Sanjay Bhattacharya, FCA Date of Hearing : 27.06.2018 Date of Pronouncement : 04.07.2018 ORDER Per M.Balaganesh, AM 1. These two appeals by the Revenue arise out of the independent orders of the Learned Commissio…

DCIT, Cir-10(2), Kolkata vs. M/S Philips Carbon Black Ltd., Kolkata

In the result, the appeal filed by the revenue in ITA No

ITA 1273/KOL/2015[2009-2010]Status: DisposedITAT Kolkata04 Jul 2018AY 2009-2010

Bench: : Shri M. Balaganesh & Shri S.S.Viswanethra Ravi

For Appellant: Shri D.S. Damle, FCA, ld.ARFor Respondent: Shri S. Dasgupta, Addl. CIT, ld.Sr.DR
Section 14A

…ation 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 115JB(2), is to be made without resorting to th…

Allied Digital Services Ltd, Mumbai vs. DCIT Cen Cir 3, Mumbai

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

ITA 3569/MUM/2016[2010-11]Status: DisposedITAT Mumbai29 Jun 2018AY 2010-11

Bench: Shri G.S. Pannu & Shri Pawan Singhm/S Allied Digital Services Ltd. Dcit, Cc- 3, 13A, 13Th Floor, Earnest House, Mumbai. Ncpa, Nariman Point, Vs. Mumbai-400020. Pan: Aaaca5509K Appellant Respondent M/S Allied Digital Services Ltd. Dcit, Cc- 3, 13A, 13Th Floor, Earnest House, Mumbai. Ncpa, Nariman Point, Vs. Mumbai-400020. Pan: Aaaca5509K Appellant Respondent Appellant By : Shri Rakesh Joshi (Ar) Respondent By : Shri R.P. Meena (Cit-Dr) Date Of Hearing : 03.05.2018 Date Of Pronouncement : 29.06.2018 Order Under Section 254(1) Of Income –Tax Act Per Pawan Singh;

For Appellant: Shri Rakesh Joshi (AR)For Respondent: Shri R.P. Meena (CIT-DR)
Section 132Section 143(3)Section 14ASection 153ASection 253Section 254(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “A” BENCH MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER M/s Allied Digital Services Ltd. DCIT, CC- 3, 13A, 13th Floor, Earnest House, Mumbai. NCPA, Nariman Point, Vs. Mumbai-400020. PAN: AAACA5509K Appellant Respondent M/s Allied Digital Services Ltd. DCIT, CC- 3, 13A, 13th Floor, Earnest House, Mumbai. NCPA, Nariman Point, Vs. Mumbai-400020. PAN: AAACA5509K Appellant Respondent Appellant by : Shri Rakesh Joshi (AR) Respondent by : Shri R.P. Meena (CIT-DR) Date of Hearing : 03.05.2018 Date of Pronouncement : 29.06.2018 Order Under…

M/S. Federal Mogul Goetze India Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 3324/DEL/2015[2009-10]Status: DisposedITAT Delhi27 Jun 2018AY 2009-10

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

Section 14ASection 36(1)(ii)Section 36(1)(iii)

…In the Income-Tax Appellate Tribunal, Delhi Bench D Before : Shri Bhavnesh Saini, Judicial Member And Shri L.P. Sahu, Accountant Member ITA No. 3324/ Del./ 2015 Assessment Year: 2009-10 vs. DCIT, Circle 11(1), Federal Mogul Goetze India Ltd., (formerly Goetze India Ltd.), New Delhi. G-4, JR complex, Gate No. 4, (Respondent) Mandoli, New Delhi. PAN- AAACG3769M (Appellant) Assessee by Sh. R.K. Kapoor, C.A. Revenue by Sh. Amit Jain, Sr. DR Date of Hearing 28.05.2018 Date of Pronouncement 27.06.2018 ORDER Per L.P. Sahu, A.M.: This is an appeal filed by the assessee against the order of ld. CIT(A)-III, New Delhi da…

ACIT, Circle-19(2), New Delhi vs. Pearl Global Industries Ltd, New Delhi

In the result, the Appeal filed by the Revenue stands dismissed

ITA 7614/DEL/2017[2014-15]Status: DisposedITAT Delhi21 Jun 2018AY 2014-15

Bench: Shri H.S. Sidhu

For Appellant: Sh. R.K. Kapoor, CAFor Respondent: Ms. Ashima Neb, Sr. DR
Section 115JSection 142(1)Section 143(2)Section 143(3)Section 14ASection 2(24)(x)Section 36(1)(va)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “SMC”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER I.T.A. No. 7614/DEL/2017 A.Y. : 2014-15 M/S PEARL GLOBAL INDUSTRIES ACIT, CIRCLE 19(2), LTD., NEW DELHI VS. A-3, NARAINA INDUSTRIAL ROOM NO. 221, 2ND FLOOR, AREA, PHASE-II, CR BUILDING, NEW DELHI – 110 028 NEW DELHI – 110 002 (PAN: AAACM0175F) (APPELLANT) (APPELLANT) (APPELLANT) (APPELLANT) (RESPONDENT) (RESPONDENT) (RESPONDENT) (RESPONDENT) Department by : Ms. Ashima Neb, Sr. DR Assessee by : Sh. R.K. Kapoor, CA ORDER ORDER ORDER ORDER This appeal by the Revenue is directed against the Order of the Ld. Co…

Samarniya Properties P.Ltd, Navi Mumbai vs. Asst CIT Cen Cir 8(4), Mumbai

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

ITA 17/MUM/2017[2012-13]Status: DisposedITAT Mumbai18 Jun 2018AY 2012-13

Bench: Shri G.S. Pannu & Shri Pawan Singhm/S Smarniya Properties Pvt. Ltd. Acit, Cc- 8(4), D-73/1, Ttc Industrial Area, Mumbai. Midc Road, Turbhe, Vs. Navi Mumbai-400705. Pan: Aahcs9922K Appellant Respondent Appellant By : Shri J.P. Bairagra (Ar) Respondent By : Shri Arju Goradia (Dr) Date Of Hearing : 18.06.2018 Date Of Pronouncement : 18.06.2018 Order Under Section 254(1) Of Income –Tax Act Per Pawan Singh; 1. The Instant Appeal By Assessee Under Section 253 Of The Income-Tax Act (The Act) Is Directed Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-50 [Ld. Cit(A)], Mumbai Dated 26.10.2016 For Assessment Year 2012-13. The Assessee Has Raised Sole Ground Of Appeal That The Ld. Cit(A) Erred In Confirming The Action Of Assessing Officer In Making Addition Of Disallowance Under Section 14A Of The Income-Tax Act, 1961 To The Book Profit Computed Under Section 115Jb Of The Act. 2. At The Outset Of The Hearing, The Ld. Authorized Representative (Ar) Of The Assessee Submits That The Sole Ground Of Appeal Raised By The Assessee In The Appeal Is Covered In Favour Of Assessee By The Decision Of Special Bench Of The Tribunal In Acit Versus Vireet Investment (P) Ltd [2017] 82 Taxmann.Com 415 (Delhi-Tribunal)(Sb). On Going Through The Grounds Of Appeal & The Learned Dr Of The Revenue & The Contents Of The Decision In Vireet Investment (P) Ltd (Supra), The Learned The Dr For The Revenue Conceded That The Ground Raised By Assessee Is Covered In Favour Of Ita No. 17/M/17- M/S Smarniya Properties Pvt. Ltd.

For Appellant: Shri J.P. Bairagra (AR)For Respondent: Shri Arju Goradia (DR)
Section 115Section 115JSection 14ASection 253Section 254(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “J” BENCH MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER M/s Smarniya Properties Pvt. Ltd. ACIT, CC- 8(4), D-73/1, TTC Industrial Area, Mumbai. MIDC Road, Turbhe, Vs. Navi Mumbai-400705. PAN: AAHCS9922K Appellant Respondent Appellant by : Shri J.P. Bairagra (AR) Respondent by : Shri Arju Goradia (DR) Date of Hearing : 18.06.2018 Date of Pronouncement : 18.06.2018 Order Under Section 254(1) of Income –tax Act PER PAWAN SINGH, JUDICIAL MEMBER; 1. The instant appeal by assessee under section 253 of the Income-tax Act (the Act) is direc…

DCIT, Cir-6, Kolkata vs. M/S Cesc Ltd., Kolkata

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

ITA 1304/KOL/2014[2010-2011]Status: DisposedITAT Kolkata13 Jun 2018AY 2010-2011

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am] I.T.A. No. 1304/Kol/2014 Assessment Year: 2010-11

Section 119Section 139Section 194CSection 40Section 40(1)(ia)

…CESC Ltd. , AY- 2010-11 आयकर अपील"य अधीकरण, "यायपीठ – “A” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA (सम")Before "ी ऐ. ट". वक", "यायीक सद"य एवं/and "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, JM & Shri M. Balaganesh, AM] I.T.A. No. 1304/Kol/2014 Assessment Year: 2010-11 Deputy Commissioner of Income-tax, Vs. CESC Ltd. (PAN: AABCC2903N) Circle-6, Kolkata. Appellant Respondent & I.T.A. No. 1187/Kol/2014 Assessment Year: 2010-11 CESC Ltd. Vs. Deputy Commissioner of Income-tax, Circle-6, Kolkata. Appellant Respondent Date of Hearing 05.04.2018 Date of Pronouncement 13.06.2018…

Cesc Limited, Kolkata vs. The DCIT RG-6, Kolkata

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

ITA 1187/KOL/2014[2010-2011]Status: DisposedITAT Kolkata13 Jun 2018AY 2010-2011

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am] I.T.A. No. 1304/Kol/2014 Assessment Year: 2010-11

Section 119Section 139Section 194CSection 40Section 40(1)(ia)

…CESC Ltd. , AY- 2010-11 आयकर अपील"य अधीकरण, "यायपीठ – “A” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA (सम")Before "ी ऐ. ट". वक", "यायीक सद"य एवं/and "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, JM & Shri M. Balaganesh, AM] I.T.A. No. 1304/Kol/2014 Assessment Year: 2010-11 Deputy Commissioner of Income-tax, Vs. CESC Ltd. (PAN: AABCC2903N) Circle-6, Kolkata. Appellant Respondent & I.T.A. No. 1187/Kol/2014 Assessment Year: 2010-11 CESC Ltd. Vs. Deputy Commissioner of Income-tax, Circle-6, Kolkata. Appellant Respondent Date of Hearing 05.04.2018 Date of Pronouncement 13.06.2018…