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

In the result appeal filed by the assessee is allowed

ITA 4562/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…

Hotel Leelaventure Ltd, Mumbai vs. Addl CIT RG 8(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 50/MUM/2016[2012-13]Status: DisposedITAT Mumbai25 Oct 2017AY 2012-13

Bench: Shri Mahavir Singh, Jm & Shri N. K. Pradhan, Am आिकरअपील िं./I.T.A. No.50/Mum/2016 (धििाारणवर्ा / Assessment Year: 2012-13) Hotel Leela Venture Additional Commissionerof बिाम/ Limited Income Tax Range 8(2) Sahar Road, Andheri(E) Mumbai-400 031 Vs. Mumbai-400 059 स्थािीलेखा िं./जीआइआर िं./Pan/Gir No. Aaach-3167-J (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assesseeby : Milind Navare, Ar Revenue By : M.C. Omi Ningshen, Dr ुनवाई की तारीख/ : 18/10/2017 Date Of Hearing घोषणा की तारीख / : 25/10/2017 Date Of Pronouncement

For Appellant: Milind Navare, ARFor Respondent: M.C. Omi Ningshen, DR
Section 115JSection 143(3)Section 14A

…ITA.No.50/Mum/2016 Hotel Leela Venture Limited Assessment Years-2012-13 आयकर अपीलीय अधिकरण “ एच” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI श्री महावीर स िंह,न्यासिक दस्य एवुं श्री एन. के. प्रधान , लेखा दस्य के मक्ष। BEFORE SHRI MAHAVIR SINGH, JM AND SHRI N. K. PRADHAN, AM आिकरअपील िं./I.T.A. No.50/Mum/2016 (धििाारणवर्ा / Assessment Year: 2012-13) Hotel Leela Venture Additional CommissionerOf बिाम/ Limited Income Tax Range 8(2) Sahar road, Andheri(E) Mumbai-400 031 Vs. Mumbai-400 059 स्थािीलेखा िं./जीआइआर िं./PAN/GIR No. AAACH-3167-J (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : A…

Bharat Petroleum Corporation Ltd, Mumbai vs. Asst CIT (OSD) RG 2(1), Mumbai

In the result, ground of appeal

ITA 3636/MUM/2013[2006-07]Status: DisposedITAT Mumbai24 Oct 2017AY 2006-07

Bench: Shri P.K Bansal, Vice- & Shri Pawan Singh

For Appellant: Shri. J. D. MistriFor Respondent: Shri. Anand Mohan DR
Section 115JSection 11ASection 14ASection 253Section 32Section 32(2)Section 72

…THE INCOME TAX APPELLATE TRIBUNAL“B” BENCH, MUMBAI BEFORE SHRI P.K BANSAL, VICE-PRESIDENT AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA no.3636/Mum./2013 & 4279/Mum/2014 (Assessment Year: 2006-07 & 2007-08) Bharat Petroleum Corporation Ltd., Taxation Section, 3rd Floor, ……………. Appellant Bharat Bhavan-ll, 4 & 6 Currimbhoy Road, Ballard Estate, Mumbai 400001, PAN AAACB1902M v/s ACIT(OSD) Range 2(1) ……………. Respondent Mumbai Assessee by : Shri. J. D. Mistri Sr. Advocate Revenue by : Shri. Anand Mohan DR Date of Hearing –11.09.2017 Date of Order - 24.10.2017 O R D E R PER: PAWAN SINGH 1. These two appeals by assessee…

Anthea Aromatics P. Ltd, Navi Mumbai vs. ITO 8(1)(1), Mumbai

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

ITA 839/MUM/2016[2011-12]Status: DisposedITAT Mumbai03 Oct 2017AY 2011-12

Bench: Shri Shamim Yahya, Am & Shri Shaktijit Dey, Jm

For Appellant: Shri Alok K.SaxsenaFor Respondent: Shri Purshottam Kumar
Section 10(38)Section 115JSection 14A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ ‘D’, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI Before Shri Shamim Yahya, AM & Shri Shaktijit Dey, JM ITA No.839/Mum/2016 : Asst.Year 2011-2012 M/s.Anthea Aromatics Private Limited The Income Tax Officer बनाम/ R-81/82 TTC Industrial Area Ward 8(1)(1) Rabale, Navi Mumbai – 400 701. Mumbai. Vs. PAN : AAACA6031G. (अपीलाथ" /Appellant) (""यथ"/Respondent) Appellant by : Shri Alok K.Saxsena Respondent by : Shri Purshottam Kumar सुनवाई क" तार"ख / घोषणा क" तार"ख / Date of Hearing : 24.08.2017 Date of Pronouncement : 03.10.2017 आदेश / O R D E R Per Shamim Yahya…

Konark Synthetic Ltd, Mumbai vs. ITO WD 10(1)(4), Mumbai

In the result, appeal of the assessee is allowed to the above extent

ITA 3595/MUM/2017[2010-11]Status: DisposedITAT Mumbai22 Sept 2017AY 2010-11

Bench: Shri G.S. Pannu: A.Y : 2010-11

For Appellant: Shri Ashwin KashinathFor Respondent: Ms. N. Hemalatha
Section 115JSection 143(3)Section 14ASection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER : A.Y : 2010-11 M/s. Konark Synthetic Ltd., Vs. ITO, Ward-10(1)(4), Building No. 7, Mittal Industrial Mumbai (Respondent) Estate, Andheri Kurla Road, Sakinaka, Andheri (E), Mumbai 400 059 (Appellant) PAN : AAACK6576G Appellant by : Shri Ashwin Kashinath Respondent by : Ms. N. Hemalatha Date of Hearing : 26/07/2017 Date of Pronouncement : 22/09/2017 O R D E R The captioned appeal by the assessee is directed against the order of the CIT(A)-17, Mumbai dated 21.03.2017, pertaining to the Assessment Year 201…

DCIT 10(3), Mumbai vs. Bombay Oxygen Corporation Ltd, Mumbai

In the result the appeal of the Revenue is dismissed, cross objection filed by the assessee is partly allowed

ITA 767/MUM/2014[2008-09]Status: DisposedITAT Mumbai13 Sept 2017AY 2008-09

Bench: Shri Rajendra, Hon'Ble & Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Manish V. Shah, C.AFor Respondent: Shri Vidusha Kalra
Section 10Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE SHRI RAJENDRA, HON'BLE ACCOUNTANT MEMBER AND SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER ITA.No.767/MUM/2014 (A.Y: 2008-09) Deputy Commissioner of Income v. M/s. Bombay Oxygen Corporation Tax -10(3), R.No. 451, 4th Floor, Limited, 22/B, Mittal Tower “B" wing, Aayakar Bhavan, M.K. Road, Nariman point, Mumbai – 400 021 Mumbai - 400 020 PAN: AAACB 1753 A (Appellant)` (Respondent) CO.No.133/MUM/2017 (A.Y: 2008-09) (ARISING OUT OF ITA.No.767/MUM/2014) M/s. Bombay Oxygen Corporation v. Deputy Commissioner of Income Tax -10(3), R.No. 451, 4th Floor, L…

Addl CIT RG 3(3), Mumbai vs. Relaince Capital Ltd, Mumbai

In the result appeal of the assessee as well as Revenue are partly allowed for statistical purposes

ITA 4794/MUM/2012[2008-09]Status: DisposedITAT Mumbai13 Sept 2017AY 2008-09

Bench: Shri G.S. Pannu & Shri C.N. Prasad

For Appellant: Shri Jitendra B. SanghaviFor Respondent: Shri Purushotam Kumar
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI C.N. PRASAD, JUDICIAL MEMBER ITA.No.4326/MUM/2012 (A.Y: 2008-09) Reliance Capital Ltd., v. Addl. CIT, Range 3(3) 570, Rectifier House, Room No.606, 6th Floor 3rd Floor, Naigaum Cross Road, Ayakar Bhavan Wadala M.K. Road, Churchgate Mumbai – 400 031 Mumbai – 400 020 PAN: AAACR 5054 J (Appellant)` (Respondent) ITA.No.4794/MUM/2012 (A.Y: 2008-09) Addl. CIT, Range 3(3) v. Reliance Capital Ltd., Room No.609, 6th Floor 570, Rectifier House, Ayakar Bhavan Naigaum Cross Road, M.K. Road, Churchgate Next to Ro…

Reliance Capital Ltd, Mumbai vs. Addl CIT RG 3(3), Mumbai

In the result appeal of the assessee as well as Revenue are partly allowed for statistical purposes

ITA 4326/MUM/2012[2008-09]Status: DisposedITAT Mumbai13 Sept 2017AY 2008-09

Bench: Shri G.S. Pannu & Shri C.N. Prasad

For Appellant: Shri Jitendra B. SanghaviFor Respondent: Shri Purushotam Kumar
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI C.N. PRASAD, JUDICIAL MEMBER ITA.No.4326/MUM/2012 (A.Y: 2008-09) Reliance Capital Ltd., v. Addl. CIT, Range 3(3) 570, Rectifier House, Room No.606, 6th Floor 3rd Floor, Naigaum Cross Road, Ayakar Bhavan Wadala M.K. Road, Churchgate Mumbai – 400 031 Mumbai – 400 020 PAN: AAACR 5054 J (Appellant)` (Respondent) ITA.No.4794/MUM/2012 (A.Y: 2008-09) Addl. CIT, Range 3(3) v. Reliance Capital Ltd., Room No.609, 6th Floor 570, Rectifier House, Ayakar Bhavan Naigaum Cross Road, M.K. Road, Churchgate Next to Ro…

Bhupati Investments & Finance P. Ltd, Mumbai vs. ITO 5(1)(2), Mumbai

ITA 6291/MUM/2010[2006-07]Status: DisposedITAT Mumbai04 Aug 2017AY 2006-07

Bench: Shri Rajendra & Shri C.N. Prasadbhupati Investments & Finances Pvt Ltd V. Income Tax Officer B-34/35, 3Rd Floor 5(1)(2) Paragon Condominium Aayakar Bhavan P.B. Marg, Room No.525/570 Worli M.K.Road Mumbai 400 001 Mumbai 400 020 Pan : Aaacb 0441 P (Appellant) (Respondent) Bhupati Investments & Finances Pvt Ltd V. Acit – 5(1) B-34/35, 3Rd Floor Room No.525/570 Paragon Condominium Aayakar Bhavan P.B. Marg, M.K.Road Worli Mumbai 400 020 Mumbai 400 001 Pan : Aaacb 0441 P (Appellant) (Respondent) Assessee By: Shri Nitesh Joshi

For Appellant: Shri Nitesh JoshiFor Respondent: Shri Arju Garodia
Section 143(1)Section 143(3)Section 14ASection 45

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI BEFORE SHRI RAJENDRA, ACCOUNTANT MEMBER AND SHRI C.N. PRASAD, JUDICIAL MEMBER Bhupati Investments & Finances Pvt Ltd v. Income Tax Officer B-34/35, 3rd Floor 5(1)(2) Paragon Condominium Aayakar Bhavan P.B. Marg, Room No.525/570 Worli M.K.Road Mumbai 400 001 Mumbai 400 020 PAN : AAACB 0441 P (Appellant) (Respondent) Bhupati Investments & Finances Pvt Ltd v. ACIT – 5(1) B-34/35, 3rd Floor Room No.525/570 Paragon Condominium Aayakar Bhavan P.B. Marg, M.K.Road Worli Mumbai 400 020 Mumbai 400 001 PAN : AAACB 0441 P (Appellant) (Respondent) Assessee by: Shri…