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.

Dandvati Investments & Trading Co. P.Ltd, Mumbai vs. DCIT (OSD) 1(1), Mumbai

In the result, grounds of

ITA 3380/MUM/2015[2011-12]Status: DisposedITAT Mumbai09 Mar 2018AY 2011-12

Bench: Shri G.S. Pannu, Accountnat Member & Shri Pawan Singhm/S Dandvati Investments & Dcit (Osd)-1 Trading Co. Pvt. Ltd. C/O Mumbai. Hindustan Dorr Oliver Ltd., 5Th Floor, The International, Vs. 16 New Marine Lines, Cross Road No.1, Mumbai-400020 Pan: Aaacd3925E (Appellant) (Respondent)

For Appellant: Shri Divyesh I. Shah (AR)For Respondent: Shri Rajesh Kumar Yadav
Section 115JSection 143(3)Section 14ASection 1ISection 253Section 254(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “A”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTNAT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER M/s Dandvati Investments and DCIT (OSD)-1 Trading Co. Pvt. Ltd. C/o Mumbai. Hindustan Dorr Oliver Ltd., 5th Floor, The International, Vs. 16 New Marine Lines, Cross Road No.1, Mumbai-400020 PAN: AAACD3925E (Appellant) (Respondent) Assessee by : Shri Divyesh I. Shah (AR) Revenue by : Shri Rajesh Kumar Yadav (DR) Date of hearing : 15.01.2018 Date of Pronouncement : 09.03.2018 Order Under Section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by as…

M.Pallonji & Co. Pvt. Ltd., Mumbai vs. ACIT, RG.2(2)(2), Mumbai

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

ITA 3739/MUM/2015[2008-09]Status: DisposedITAT Mumbai28 Feb 2018AY 2008-09

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Shri J.D. Mistry, Sr. Counsel a/wFor Respondent: Ms. Pooja Swaroop
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA no.3739/Mum./2015 (Assessment Year : 2008–09) M. Pallonji & Co. Pvt. Ltd. 46–A, Taj Printing Work ……………. Appellant Cawasji Patel Street, Fort Mumbai 400 001 AAACM3525B v/s Asstt. Commissioner of Income Tax ……………. Respondent Range–2(2)(2), Mumbai ITA no.3523/Mum./2015 (Assessment Year : 2008–09) Asstt. Commissioner of Income Tax ……………. Appellant Circle–2(2)(2), Mumbai v/s M. Pallonji & Co. Pvt. Ltd. 46–A, Taj Printing Work ……………. Respondent Cawasji Patel Street, Fort Mum…

DCIT 13(3)(2), Mumbai vs. Technotrade Impex India P Ltd, Mumbai

In the result, appeals filed by the assessee are partly allowed

ITA 3835/MUM/2016[2011-12]Status: DisposedITAT Mumbai24 Jan 2018AY 2011-12

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

Section 115JSection 132Section 132(1)Section 139(1)Section 143(3)Section 14ASection 153ASection 234ASection 234B

…1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI Before Shri Mahavir Singh (JUDICIAL MEMBER) AND Shri G Manjunatha (ACCOUNTANT MEMBER) I.T.A Nos.1344 to 1346 /Mum/2016 (Assessment years: 2008-09 to 2010-11) Geltec Pvt Ltd vs ACIT, Cent.Cir.20, Mumbai Capsulation Premises 1st Floor, Sion Trombay Road, Deonar, Mumbai-88 PAN : AAACB1782H APPELLANT RESPONDEDNT Appellant by Shri D.V. Lakhani Respondent by Shri C.S. Gulati Date of hearing 11-01 -2018 Date of pronouncement 24-01-2018 O R D E R Per G Manjunatha, AM : These three appeals filed by the assessee are directed against separate but identica…

Geltec P.Ltd, Mumbai vs. Asst CIT Cen Cir 20, Mumbai

In the result, appeals filed by the assessee are partly allowed

ITA 1344/MUM/2016[2008-09]Status: DisposedITAT Mumbai24 Jan 2018AY 2008-09

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

Section 115JSection 132Section 132(1)Section 139(1)Section 143(3)Section 14ASection 153ASection 234ASection 234B

…1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI Before Shri Mahavir Singh (JUDICIAL MEMBER) AND Shri G Manjunatha (ACCOUNTANT MEMBER) I.T.A Nos.1344 to 1346 /Mum/2016 (Assessment years: 2008-09 to 2010-11) Geltec Pvt Ltd vs ACIT, Cent.Cir.20, Mumbai Capsulation Premises 1st Floor, Sion Trombay Road, Deonar, Mumbai-88 PAN : AAACB1782H APPELLANT RESPONDEDNT Appellant by Shri D.V. Lakhani Respondent by Shri C.S. Gulati Date of hearing 11-01 -2018 Date of pronouncement 24-01-2018 O R D E R Per G Manjunatha, AM : These three appeals filed by the assessee are directed against separate but identica…

DCIT 2(2), Mumbai vs. Larsen & Toubro Finance Ltd, Mumbai

Appeal stands allowed for statistical purposes

ITA 4459/MUM/2013[2006-07]Status: DisposedITAT Mumbai24 Jan 2018AY 2006-07

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: M.M.Golvala & Akram Khan, Ld.AR’sFor Respondent: S.C.Tiwari CIT (DR) & Saurabh Kumar Rai
Section 115JSection 143(3)Section 14ASection 40Section 88E

…far as the adjustment of disallowance u/s 14A in computation of book profit u/s 115JB is concerned, we find that the matter stood squarely in assessee’s favour by the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. ITA Nos.3980-3982 &4459/Mum/2013 L & T Finance Limited Assessment Years 2005-06 to 2007-2008 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], to…

L & T Finance Ltd, Mumbai vs. DCIT Cir 2(2), Mumbai

Appeal stands allowed for statistical purposes

ITA 3982/MUM/2013[2007-08]Status: DisposedITAT Mumbai24 Jan 2018AY 2007-08

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: M.M.Golvala & Akram Khan, Ld.AR’sFor Respondent: S.C.Tiwari CIT (DR) & Saurabh Kumar Rai
Section 115JSection 143(3)Section 14ASection 40Section 88E

…far as the adjustment of disallowance u/s 14A in computation of book profit u/s 115JB is concerned, we find that the matter stood squarely in assessee’s favour by the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. ITA Nos.3980-3982 &4459/Mum/2013 L & T Finance Limited Assessment Years 2005-06 to 2007-2008 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], to…

L & T Finance Ltd, Mumbai vs. DCIT Cir 2(2), Mumbai

Appeal stands allowed for statistical purposes

ITA 3981/MUM/2013[2006-07]Status: DisposedITAT Mumbai24 Jan 2018AY 2006-07

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: M.M.Golvala & Akram Khan, Ld.AR’sFor Respondent: S.C.Tiwari CIT (DR) & Saurabh Kumar Rai
Section 115JSection 143(3)Section 14ASection 40Section 88E

…far as the adjustment of disallowance u/s 14A in computation of book profit u/s 115JB is concerned, we find that the matter stood squarely in assessee’s favour by the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. ITA Nos.3980-3982 &4459/Mum/2013 L & T Finance Limited Assessment Years 2005-06 to 2007-2008 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], to…

L & T Finance Ltd, Mumbai vs. DCIT Cir 2(2), Mumbai

Appeal stands allowed for statistical purposes

ITA 3980/MUM/2013[2005-06]Status: DisposedITAT Mumbai24 Jan 2018AY 2005-06

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: M.M.Golvala & Akram Khan, Ld.AR’sFor Respondent: S.C.Tiwari CIT (DR) & Saurabh Kumar Rai
Section 115JSection 143(3)Section 14ASection 40Section 88E

…far as the adjustment of disallowance u/s 14A in computation of book profit u/s 115JB is concerned, we find that the matter stood squarely in assessee’s favour by the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. ITA Nos.3980-3982 &4459/Mum/2013 L & T Finance Limited Assessment Years 2005-06 to 2007-2008 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], to…

Btt Industries Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle-1(2), Hyderabad

In the result, appeal of assessee is allowed

ITA 1799/HYD/2017[2013-14]Status: DisposedITAT Hyderabad19 Jan 2018AY 2013-14

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

For Appellant: Shri V.G. Tarak Nath, ARFor Respondent: Smt. Suman Malik, DR
Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER I.T.A. No. 1799/HYD/2017 Assessment Year: 2013-14 M/s. BTT Industries Deputy Commissioner Private Limited, Vs of Income Tax, HYDERABAD Circle-1(2), [PAN: AABCB6846R] HYDERABAD (Appellant) (Respondent) For Assessee : Shri V.G. Tarak Nath, AR For Revenue : Smt. Suman Malik, DR Date of Hearing : 09-01-2018 Date of Pronouncement : 19-01-2018 O R D E R PER B. RAMAKOTAIAH, A.M. : The issue in this appeal by assessee against the order of the Commissioner of…

ACIT 16(1), Mumbai vs. Indusind Media & Communicaton Ltd, Mumbai

ITA 772/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Jan 2018AY 2011-12

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.772/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Income Tax- Indusind Media & Communication Ltd. बनाम/ 16(1) In Centre, 49/50,Midc,12Th Road Room No.439, Aaykar Bhavvan, M.K.Road, Andheri (E), Mumbai-400 093 Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.1167/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Indusind Media & Communication Ltd. Assistant Commissioner Of Income Tax- बनाम/ In Centre, 49/50,Midc,12Th Road 16(1) Andheri (E), Mumbai-400 093 Room No.439, Aaykar Bhavvan, M.K.Road, Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: Mihir Nanavdekar,Ld.ARFor Respondent: Saurabh Kumar Rai, Ld.DR
Section 143(3)Section 32(2)

…ITA Nos.772 &1167/Mum/2016 Indusind Media & Communication Limited Assessment Year 2011-12 आयकर अपीलीय अिधकरण “आई” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “I” 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 आयकर अपील सं./I.T.A. No.772/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner of Income Tax- Indusind Media & Communication Ltd. बनाम/ 16(1) In centre, 49/50,MIDC,12th Road Room No.439, Aaykar Bhavvan, M.K.Road, Andheri (E), Mumbai-400 093 Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआ…

Indusind Media & Communications Ltd, Mumbai vs. ACIT 16(1), Mumbai

ITA 1167/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Jan 2018AY 2011-12

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.772/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Income Tax- Indusind Media & Communication Ltd. बनाम/ 16(1) In Centre, 49/50,Midc,12Th Road Room No.439, Aaykar Bhavvan, M.K.Road, Andheri (E), Mumbai-400 093 Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.1167/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Indusind Media & Communication Ltd. Assistant Commissioner Of Income Tax- बनाम/ In Centre, 49/50,Midc,12Th Road 16(1) Andheri (E), Mumbai-400 093 Room No.439, Aaykar Bhavvan, M.K.Road, Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaaci-1198-L (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: Mihir Nanavdekar,Ld.ARFor Respondent: Saurabh Kumar Rai, Ld.DR
Section 143(3)Section 32(2)

…ITA Nos.772 &1167/Mum/2016 Indusind Media & Communication Limited Assessment Year 2011-12 आयकर अपीलीय अिधकरण “आई” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “I” 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 आयकर अपील सं./I.T.A. No.772/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner of Income Tax- Indusind Media & Communication Ltd. बनाम/ 16(1) In centre, 49/50,MIDC,12th Road Room No.439, Aaykar Bhavvan, M.K.Road, Andheri (E), Mumbai-400 093 Vs. Mumbai-400 020 "थायी लेखा सं./जीआइआ…

DCIT Cir. 3(3)(1), Mumbai vs. Reliance Capital Ltd., Navi Mumbai

ITA 2341/MUM/2016[2011-12]Status: DisposedITAT Mumbai03 Jan 2018AY 2011-12

Bench: S/Sh.Rajendra & Amarjit Singhआयकर अपील सं./I.T.A./2341/Mum/2016,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 िनधा"रण िनधा"रण वष" वष" Dcit-Circle-3(3)(1) M/S. Reliance Capital Ltd. Room No.609, 6Th Floor H-Block, 1St Floor, Dhirubhai Ambani Aayakar Bhavan, M.K. Road Vs. Knowledge City, Mumbai-400 020. Koperkhairane, Navi Mumbai-400 710. Pan:Aaacr 5054 J (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri Abhijit Patankar- Dr अपीलाथ" क" ओर से /Assessee By: Shri Jitendra B. Sanghvi-Ar सुनवाई क" तारीख / Date Of Hearing: 12/12/2017 घोषणा क" तारीख / Date Of Pronouncement: 03/01/2018 लेखा लेखा सद"य लेखा लेखा सद"य सद"य, राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार/ Per Rajendra, Am- अनुसार Challenging The Order Dated 25/01/2016Of Cit(A)-8, Mumbai The Assessing Officer (Ao) Has Filed The Present Appeal.Assessee-Company,Engaged In The Business Of Leasing,Investment In Shares/Stocks,Merchant & Investment Banking,Iled Its Return Of Income On 30/09/2011 Declaring Loss Of Rs.173.73 Crores Under Normal Provisions & Book Loss Of Rs.212.75 Crores.Later On,A Revised Return Was Filed,Declaring Loss Of Rs.159.60 Crores & Book Loss Of Rs.79.97 Crores.

For Appellant: Shri Jitendra B. Sanghvi-ARFor Respondent: Shri Abhijit Patankar- DR
Section 115JSection 14A

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, मुंबई अिधकरण मुंबई मुंबई “जी मुंबई जी जी” खंडपीठ जी खंडपीठ खंडपीठ मेमेमेमे खंडपीठ Income-tax Appellate Tribunal -“G”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अमरजीत "सह, "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amarjit Singh,Judicial Member आयकर अपील सं./I.T.A./2341/Mum/2016,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 िनधा"रण िनधा"रण वष" वष" DCIT-Circle-3(3)(1) M/s. Reliance Capital Ltd. Room No.609, 6th Floor H-Block, 1st Floor, Dhirubhai Ambani Aayakar Bhavan, M.K. Road Vs. Knowledge City, Mumbai-400 020. Koperkhairane, Nav…

M/S Tmt Viniyogan Ltd., Kolkata vs. DCIT, Cir-6(2), Kolkata

In the result, assessee’s appeal stands allowed for statistical purpose

ITA 561/KOL/2015[2008-2009]Status: DisposedITAT Kolkata15 Dec 2017AY 2008-2009

Bench: Shri A. T. Varkey & Shri Waseem Ahmedi.T.A. No.561/Kol/2015 Assessment Year 2008-09 M/S. Tmt Viniyogan Ltd. Dcit, Cir-6(2), Kolkata Emami Tower, Flat-687, -Vs- Aayakar Bhawan, P-7, Chowringhee Square, Kolkata – 700 069. Anandapur, Em Bypass, Kolkata – 700 017. [Pan : Aaact 9455 F] (Appellant) (Respondent) For The Appellant Shri S.K. Agarwal, Fca For The Respondent Shri Saurabh Kumar, Addl. Cit(Dr) Date Of Hearing 05.10.2017 Date Of Pronouncement 15.12.2017

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

…tation of income. The disallowance of the same was also made while determining the profit u/s 115JB of the Act. However, we note that in recent judgment of Special Bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 82 Taxmann.com 415 that the disallowances made u/s 14A r.w.r. 8D cannot be the subject matter of disallowances while determining the net profit u/s 115JB of the Act. Relevant portion of the said order is reproduced below: “In view of above discussion, the computation under clause (f) of Explanation 1 to section 115JB(2), is to be made without resorting to th…

Nirayu Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-12(2), Bangalore

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

ITA 1804/BANG/2017[2009-10]Status: DisposedITAT Bangalore08 Dec 2017AY 2009-10

Bench: Shri Arun Kumar Garodiaassessment Year :2009-10

For Appellant: Shri Ravishankar, AdvocateFor Respondent: Shri P.V. Pradeep Kumar, Addl. CIT (DR)
Section 14A

…ave to add to, alter, amend or delete any ground of appeal.” 3. At the very outset, it was submitted by ld. AR of assessee that as per decision of Delhi Special bench of the Tribunal rendered in the case of ACIT Vs. Vireet Investment Pvt. Ltd. as reported in 154 DTR 241 (Delhi) (Special Bench), it was held in Para no. 11.18 that that the matter is restored back to the file of AO for recomputing the disallowance u/s. 14A in terms of observations in Para no. 11.16 and 11.17. He pointed out that as per para no. 11.16, it was held that only those investments are to be considered for computing average value of invest…

Sajjan India Ltd, Mumbai vs. Addl CIT RG 7(2), Mumbai

In the result the appeal of the assessee and revenue for AY 2011-12

ITA 5550/MUM/2015[2011-12]Status: DisposedITAT Mumbai28 Nov 2017AY 2011-12

Bench: Shri C.N.Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.5550/Mum/2015 (नििाारण वर्ा / Assessment Year: 2011-12) बिाम/ Sajjan India Limited Addl. Cit, Range 7(2) C/O Shankarlal Jain & Aayakar Bhawan Associates , 12, Engineer M K Road V. Building, 265, Princess Queens Road Street, Mumbai-400020 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaacs6498M (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri. Shankarlal JainFor Respondent: Shri. V. Jenardhanan, DR
Section 115JSection 143(3)Section 14A

…आयकर अपीऱीय अधिकरण “K” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI C.N.PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.5550/Mum/2015 (नििाारण वर्ा / Assessment Year: 2011-12) बिाम/ Sajjan India Limited Addl. CIT, Range 7(2) C/o Shankarlal Jain & Aayakar Bhawan Associates , 12, Engineer M K Road v. Building, 265, Princess Queens Road Street, Mumbai-400020 Mumbai-400020 स्थायी ऱेखा सं./ PAN : AAACS6498M (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. आयकर अपीऱ सं./I.T.A. No. 5751/Mum/2015 (नििाारण वर्ा / Assessment Year: 2011-12)…

Af-Taab Investment Company Ltd, Mumbai vs. DCIT Cir 6(1), Mumbai

In the result, the assessee‟s appeal is allowed for statistical purposes while Revenue appeal is dismissed

ITA 7128/MUM/2014[2011-12]Status: DisposedITAT Mumbai16 Nov 2017AY 2011-12

Bench: Shri D.T. Garasia & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08)

For Appellant: Shri P.J.Pardiwala & HarshFor Respondent: Shri. Saurabh Kumar Rai
Section 115JSection 14ASection 36(1)(iii)

…ITA No. 1807/M/2011,1812/M/2011, 4284/M/2014,7069/M/2013, 6546/M/2014,6573/M/2014, 7128/M/2014 आयकर अपीऱीय अधिकरण “A” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08) बिाम/ ACIT Circle 6(1),Room No. Af-taab Investment Company Limited, 506, 5 th Floor, Aayakar Corporate Centre, Bhawan v. „B‟ Block, M K Road 34 Carnac Bunder, Mumbai 400020 Mumbai 400009 स्थायी ऱेखा सं./ PAN : AAACA4800H आयकर अपीऱ सं…

ACIT Cir 6(1), Mumbai vs. Aftab Investment Co. Ltd, Mumbai

In the result, the assessee‟s appeal is allowed for statistical purposes while Revenue appeal is dismissed

ITA 1812/MUM/2011[2007-08]Status: DisposedITAT Mumbai16 Nov 2017AY 2007-08

Bench: Shri D.T. Garasia & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08)

For Appellant: Shri P.J.Pardiwala & HarshFor Respondent: Shri. Saurabh Kumar Rai
Section 115JSection 14ASection 36(1)(iii)

…ITA No. 1807/M/2011,1812/M/2011, 4284/M/2014,7069/M/2013, 6546/M/2014,6573/M/2014, 7128/M/2014 आयकर अपीऱीय अधिकरण “A” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.1807/Mum/2011 & 1812/Mum/2011 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08) बिाम/ ACIT Circle 6(1),Room No. Af-taab Investment Company Limited, 506, 5 th Floor, Aayakar Corporate Centre, Bhawan v. „B‟ Block, M K Road 34 Carnac Bunder, Mumbai 400020 Mumbai 400009 स्थायी ऱेखा सं./ PAN : AAACA4800H आयकर अपीऱ सं…

DCIT Cir 3(3)(1), Mumbai vs. Reliance Capital Ltd, Navi Mumbai

In the result, this appeal filed by the Revenue stands dismissed

ITA 4008/MUM/2016[2012-13]Status: DisposedITAT Mumbai07 Nov 2017AY 2012-13

Bench: Shri Shamim Yahya, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./I.T.A. No.4008/Mum/2016 ("नधा"रण वष" / Assessment Year: 2012-13) Dy. Cit, Circle-3(3)(1), M/S. Reliance Capital Ltd. Room No. 609, 6Th Floor, H Block, 1St Floor, बनाम/ Aayakar Bhavan, M. K. Road, Dhirubhai Ambani Knowledge Vs. Mumbai-400 020 City, Koparkhairne, Navi Mumbai-400 710 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacr 5054 J (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri M. V. Rajguru ""यथ" क" ओर से/Respondent By : Shri Jitendra Sanghavi सुनवाई क" तार"ख / : 26.10.2017 Date Of Hearing घोषणा क" तार"ख / : 07.11.2017 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Revenue Is Directed Against The Order By The Commissioner Of Income Tax (Appeals)-8, Mumbai (‘Cit(A)’ For Short) Dated 23.03.2016 & Pertains To The Assessment Year (A.Y.) 2012-13. 2. The Grounds Of Appeal Read As Under: 1. "Whether On The Facts & In The Circumstances Of The Case & In Law, Ld. Cit(A) Has Erred In Not Considering The Fact That The Amount Of Disallowance

For Appellant: Shri M. V. RajguruFor Respondent: Shri Jitendra Sanghavi
Section 115JSection 143(2)Section 14A

…आयकर अपील"य अ"धकरण “एल” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “L” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI SANDEEP GOSAIN, JM आयकर अपील सं./I.T.A. No.4008/Mum/2016 ("नधा"रण वष" / Assessment Year: 2012-13) Dy. CIT, Circle-3(3)(1), M/s. Reliance Capital Ltd. Room No. 609, 6th floor, H Block, 1st Floor, बनाम/ Aayakar Bhavan, M. K. Road, Dhirubhai Ambani Knowledge Vs. Mumbai-400 020 City, Koparkhairne, Navi Mumbai-400 710 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AAACR 5054 J (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant by : Shri M. V. Rajguru ""यथ" क" ओर से/Respond…

Yash Raj Films P.Ltd, Mumbai vs. Asst CIT RG 11(1), Mumbai

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

ITA 5630/MUM/2015[2009-10]Status: DisposedITAT Mumbai31 Oct 2017AY 2009-10

Bench: Shri D.T. Garasia & Shri Rajesh Kumarassessment Year: 2009-10 M/S. Yash Raj Films Pvt. The Asst. Comm. Of Ltd., Income Tax, 5 Shah Industrial Estate, Range 11(1), Vs. Veera Desai Road, Mumbai Andheri (West), Mumbai – 400 053 Pan: Aaacy1176E (Appellant) (Respondent) Present For: Assessee By : Shri Rajesh P. Shah, A.R. Revenue By : Shri Tufad Ahmad Khan, D.R. Date Of Hearing : 20.09.2017 Date Of Pronouncement : 31.10.2017 O R D E R Per D.T. Garasia: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 28.09.2015 Of The Commissioner Of Income Tax (Appeals) [Hereinafter Referred To As The Cit(A)] Relevant To Assessment Year 2009-10. 2. The Short Facts Of The Case Are That During The Year The Assessee Has Earned Income Of Rs.75,30,868/- From Mutual Fund Which Is Exempt Under Section 10(34) Of The Income Tax Act. Assessee Was Asked To Explain As To Why The Corresponding Expenditure Should Not Be Disallowed. The Assessee Replied But The Assessing Officer (Hereinafter Referred To As The Ao) Did Not Accept It. The Ao Held

For Appellant: Shri Rajesh P. Shah, A.RFor Respondent: Shri Tufad Ahmad Khan, D.R
Section 10(34)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER Assessment Year: 2009-10 M/s. Yash Raj Films Pvt. The Asst. Comm. of Ltd., Income Tax, 5 Shah Industrial Estate, Range 11(1), Vs. Veera Desai Road, Mumbai Andheri (West), Mumbai – 400 053 PAN: AAACY1176E (Appellant) (Respondent) Present for: Assessee by : Shri Rajesh P. Shah, A.R. Revenue by : Shri Tufad Ahmad Khan, D.R. Date of Hearing : 20.09.2017 Date of Pronouncement : 31.10.2017 O R D E R Per D.T. GARASIA, Judicial Member: The present appeal has been preferred by…

ACIT, New Delhi vs. M/S. Moonstar Securities Trading & Finance Co. Pvt. Ltd., New Delhi

In the result appeal filed by the assessee is allowed

ITA 4661/DEL/2014[2011-12]Status: DisposedITAT Delhi31 Oct 2017AY 2011-12

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

For Appellant: “That theFor Respondent: “1. The
Section 115JSection 14Section 143(1)Section 14ASection 250

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘E’, New Delhi Before : Shri Bhavnesh Saini, Judicial Member And Shri L.P. Sahu, Accountant Member ITA No. 4562/Del./2014 Assessment Year: 2011-12 Moonstar Securities Trading & vs. A.C.I.T., Central Circle 13 Finance Co. Pvt. Ltd., Room No. 20, New Delhi. E Block, 4th Floor, International (Respondent) Trade Tower, Nehru Place, New Delhi (PAN- AAACM 8415A) (Appellant) ITA No. 4661/Del./2014 Assessment Year: 2011-12 A.C.I.T., Central Circle 13 vs. Moonstar Securities Trading & New Delhi. Finance Co. Pvt. Ltd., Room No. 20, E Block, 4th Floor, International Trade Tow…