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.

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. The Addl CIT RG 1(1), Mumbai

ITA 4315/MUM/2007[2002-2003]Status: DisposedITAT Mumbai28 Jan 2025AY 2002-2003

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.4315 and 4316/MUM/2007 Assessment Years: 2002-03 and 2003-04 ITA Nos.3861 and 3862/Mum/2009 Assessment Years: 2004-05 and 2005-06 ITA Nos.5033/Mum/2010, 5442/Mum/2011, 2868/Mum/2012 Assessment Years: 2006-07 to 2008-09 ITA Nos.2093, 5885, 2609, 2610 and 4983/Mum/2017 Assessment Years: 2009-10 to 2013-14 ITA Nos.2665 and 2666/Mum/2024 Assessment Years: 2014-15 and 2015-16 ITA Nos.1890, 1891, 1892, 1893 and 3717/Mum/2023 and Assessment Years: 201…

DCIT Cir 1(1), Mumbai vs. M/S Housing Developement Finance Corporation Ltd, Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 4161/MUM/2007[2002-2003]Status: DisposedITAT Mumbai28 Jan 2025AY 2002-2003

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and
Section 1

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.4315 and 4316/MUM/2007 Assessment Years: 2002-03 and 2003-04 ITA Nos.3861 and 3862/Mum/2009 Assessment Years: 2004-05 and 2005-06 ITA Nos.5033/Mum/2010, 5442/Mum/2011, 2868/Mum/2012 Assessment Years: 2006-07 to 2008-09 ITA Nos.2093, 5885, 2609, 2610 and 4983/Mum/2017 Assessment Years: 2009-10 to 2013-14 ITA Nos.2665 and 2666/Mum/2024 Assessment Years: 2014-15 and 2015-16 ITA Nos.1890, 1891, 1892, 1893 and 3717/Mum/2023 and Assessment Years: 201…

T vs. Motor Company Ltd., Chennaivs.ACIT, Chennai

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

ITA 672/CHNY/2017[2012-13]Status: DisposedITAT Chennai24 Jan 2025AY 2012-13

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita No.672/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 M/S.Tvs Motor Co. Ltd., V. The Acit, No.29, Haddows Road, Corporate Circle – 3(1), Chennai-600 006. Chennai. [Pan: Aaacs 7032 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram VijayaraghavanFor Respondent: Shri A. Sasikumar, CIT
Section 143(3)

…आयकर अपीलीय अिधकरण, ’डी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ीएबीटी. वक", "ाियकसद" एवं एवं एवं एवं "ीअिमताभशु"ा, लेखासद"केसम" BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No.672/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 M/s.TVS Motor Co. Ltd., v. The ACIT, No.29, Haddows Road, Corporate Circle – 3(1), Chennai-600 006. Chennai. [PAN: AAACS 7032 B] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Shri Vikram Vijayaraghavan, Adv. ""यथ" क" ओर से /Respondent by : Shri A. Sasikumar, CIT : सुनवाईक"ता…

DCIT 3(2)(1), Mumbai vs. M/S. Jindal Drugs Pvt. Ltd., Mumbai

In the result,appeal of the Revenue in ITA

ITA 5915/MUM/2024[2013-14]Status: DisposedITAT Mumbai21 Jan 2025AY 2013-14

Bench: Shri Sandeep Gosain & Shri Prabhash Shankardeputy Commissioner Of V/S. M/S Jindal Drugs Pvt. Ltd., Income Tax बनाम 12Th Floor, 3(2)(1),Aayakarbhawan, Bakhtawarramnathgoenka Room No. 608 Mumbai – Marg, Nariman Point Mumbai - 400020, Maharashtra 400 021, Maharashtra स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaacj1000A Appellant/अपीलार्थी .. Respondent/प्रतिवादी M/S Jindal Drugs Pvt. Ltd., V/S. Assistant Commissioner 12Th Floor, बनाम Of Income Tax 3(2)(1), Bakhtawarramnathgoenka Marg, Aayakarbhawan, Room No. 229Nariman Point Mumbai - 400 608 Mumbai – 400 020, 021, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaacj1000A Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Rahul Hakkani,ARFor Respondent: Shri Sunil Mathews (Sr. DR)
Section 143(3)Section 14ASection 8D(2)(ii)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Deputy Commissioner of v/s. M/s Jindal Drugs Pvt. Ltd., Income Tax बनाम 12th Floor, 3(2)(1),AayakarBhawan, BakhtawarRamnathGoenka Room No. 608 Mumbai – Marg, Nariman Point Mumbai - 400020, Maharashtra 400 021, Maharashtra स्थायी लेखा सं./जीआइआर सं./ PAN/GIR No: AAACJ1000A Appellant/अपीलार्थी .. Respondent/प्रतिवादी M/s Jindal Drugs Pvt. Ltd., v/s. Assistant Commissioner 12th Floor, बनाम of Income Tax 3(2)(1), BakhtawarRamnathGoenka Marg, AayakarBhawan, Room No. 229Nariman…

Aura Securities Private Limited, Ahmedabad vs. The ACIT, Circle-1(1)(1), Ahmedabad

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

ITA 850/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad02 Jan 2025AY 2017-18

Bench: Ms. Suchitra Kamble & Shri Makarand Vasant Mahadeokarassessment Year: 2017-18

Section 115JSection 142(1)Section 143(2)Section 14ASection 250

…ITA No.850/Ahd/2023 Assessment Year: 2017-18 Aura Securities Pvt. Ltd. Vs. ACIT Page 1 of 6 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI MAKARAND VASANT MAHADEOKAR, ACCOUNTANT MEMBER Assessment Year: 2017-18 Aura Securities Private Limited, The Assistant Commissioner of 1st Floor, Akshay Building, Income Tax, B/h. Vadilal House, Circle – 1(1)(1), 53-Shrimali Society, Ahmedabad. Vs. Navrangpura, Ahmedabad – 380 009 [PAN – AABCM 0602 L] (Appellant) (Respondent) Assessee by Shri Biren Shah, AR Revenue by Shri B.P. Srivastava, Sr. DR Date…

Cosmic Informatics Pvt. Ltd., New Delhi vs. ACIT Central Circle - 2, New Delhi

In the result, appeal of the Revenue in appeal No

ITA 2444/DEL/2024[2017-18]Status: DisposedITAT Delhi02 Jan 2025AY 2017-18

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’: NEW DELHI BEFORE SHRI SUDHIR KUMAR, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.2442 to 2445/Del/2023 (ASSESSMENT YEARS 2013-14 to 2016-17) DCIT, Lotus Herbals Pvt. Ltd., CC-20, Delhi. Room No.269A, 2 nd Floor, ARA Vs. Centre, E-2, Jhandewalan, New Delhi-110055. PAN-AAACL0198F (Appellant) (Respondent) Assessee by Shri Rohit Jain, Adv. and Shri Shivam Gupta, CA Department by Sh. Mukesh Jha, CIT DR and Ms. Pooja Swroop, CIT-DR 29.09.2025 Date of Hearing Date of Pronouncement 23.12.2025 O R D E R PER MANISH AGARWAL, AM: These are five…

Cosmic Informatics Pvt. Ltd., New Delhi vs. ACIT Central Circle - 2, New Delhi

In the result, appeal of the Revenue in appeal No

ITA 2443/DEL/2024[2013-14]Status: DisposedITAT Delhi02 Jan 2025AY 2013-14

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’: NEW DELHI BEFORE SHRI SUDHIR KUMAR, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.2442 to 2445/Del/2023 (ASSESSMENT YEARS 2013-14 to 2016-17) DCIT, Lotus Herbals Pvt. Ltd., CC-20, Delhi. Room No.269A, 2 nd Floor, ARA Vs. Centre, E-2, Jhandewalan, New Delhi-110055. PAN-AAACL0198F (Appellant) (Respondent) Assessee by Shri Rohit Jain, Adv. and Shri Shivam Gupta, CA Department by Sh. Mukesh Jha, CIT DR and Ms. Pooja Swroop, CIT-DR 29.09.2025 Date of Hearing Date of Pronouncement 23.12.2025 O R D E R PER MANISH AGARWAL, AM: These are five…

Deputy Commissioner of Income Tax, Circle- V (I), Kolkata vs. Birla Corporation Limited, Birla Building

In the result, both the appeals of the revenue is dismissed, as also the cross objection filed by the assessee for both the years

ITA 1024/KOL/2023[2016-17]Status: DisposedITAT Kolkata24 Dec 2024AY 2016-17

Bench: SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 115JSection 14ASection 250Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH” KOLKATA SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No. 1024/Kol/2023 Assessment Year: 2016-17 Deputy Commissioner of Income Tax, Circle V(1), Kolkata Aayakar Bhawan, 8th Floor, P-7 Chowringhee Square, Kolkata - 700069 .....................…...…………….... Appellant vs. Birla Corporation Limited, 9/1 R.N. Mukherjee Road, Birla Building, 3rd Floor, Kolkata - 700001 [PAN: AABCB2075J] ...............…..….................... Respondent C.O. No. 04/Kol/2024 (Arising out of ITA No. 1024/Kol/2023) Assessment Year: 2016-17 Birla Corpo…

Assistant Commissioner Commissioner of Income Tax Corporate Circle 1 1, Chennai vs. Il and Fs Tamilnadu Power Company Limited, Chennai

In the result, the appeal of the revenue is dismissed

ITA 1716/CHNY/2024[2011-12]Status: DisposedITAT Chennai04 Dec 2024AY 2011-12

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./ Ita No. 1716 /Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Assistant Commissioner Of Income Il & Fs Tamilnadu Power Company Tax, Limited, Corporate Circle-1(1), Old No.21, New No.2, Kpr Tower, Chennai 4Th Floor, Greams Road, S.O. Nungambakkam, Chennai-600 006. [Pan: Aabcf1176A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Ashwin, C.A अपीलार्थी की ओर से/ Assessee By प्रत्यर्थी की ओर से /Revenue By : Ms.Gowthami Manivasagam, Jcit सुनवाई की तारीख/Date Of Hearing : 23.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024

For Respondent: Ms.Gowthami Manivasagam, JCIT
Section 250

…आयकर अपीलीय अधिकरण ‘बी न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI श्री एबी टी. वर्की, न्याययर्क सदस्य एवं श्री अमिताभ शुक्ला, लेखा सदस्य के समक्ष BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 1716 /Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Assistant Commissioner of Income IL and FS Tamilnadu Power Company Tax, Limited, Corporate Circle-1(1), Old No.21, New No.2, KPR Tower, Chennai 4th Floor, Greams Road, S.O. Nungambakkam, Chennai-600 006. [PAN: AABCF1176A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Ash…

DCIT Corporate Circle 1(1), Chennai vs. Allsec Technologies Limited, Chennai

The appeal stand partly allowed in terms of our above order

ITA 1662/CHNY/2019[2011-12]Status: DisposedITAT Chennai03 Dec 2024AY 2011-12

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.1255/Chny/2019 (िनधा)रणवष) / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.1662/Chny/2019 (िनधा)रणवष) / Assessment Year: 2011-12) Dcit M/S. Allsec Technologies Limited बनाम/ Corporate Circle-1(1), 560, 562, 7H Century Plaza, Vs. Chennai. Teynampet, Anna Salai, Chennai-600 018. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aacca-5106-G (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Revenue By : Ms. Kavitha (Addl.Cit) - Ld. Sr. Dr " थ"कीओरसे/ Assessee By : Shri Vikram Vijayaraghavan (Advocate) - Ld.Ar सुनवाईकीतारीख/Date Of Hearing : 20-11-2024 घोषणाकीतारीख /Date Of Pronouncement : 03-12-2024 आदेश / O R D E R Manoj Kumar Aggarwal () 1.1 Aforesaid Appeals By Revenue For Assessment Year (Ay) 2010-11 & 2011-12 Has Common Issues. First We Take Up Appeal For Ay 2010-11 Which Arises Out Of The Order Of Learned Commissioner Of Income Tax (Appeals)-1, Chennai [Cit(A)] Dated 31-01-2019 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S. 143(3) R.W.S.

For Appellant: Shri Vikram Vijayaraghavan (Advocate) - Ld.ARFor Respondent: Ms. Kavitha (Addl.CIT) - Ld. Sr. DR
Section 143(3)Section 14ASection 195Section 40Section 9(1)(vi)

…d. However, rejecting the same, Ld. AO computed disallowance u/s 14A r.w.r. 8D(2)(iii) for Rs.11.21 Lacs which was computed at 0.5% of average investments. The Ld. CIT(A), referring to the decision of Special Bench of Tribunal in Vireet Investments Pvt. Ltd. (82 Taxmann.com 415), directed Ld. AO to compute disallowance by considering only those investments which have yielded exempt income during the year. 2.2 We find that aforesaid adjudication is in line with the decision of Special Bench of Tribunal. Therefore, no interference is required in the same. The corresponding ground stand dismissed. 3. Disallowance of…

DCIT Corporate Circle 1(1), Chennai vs. Allsec Technologies Limited, Chennai

The appeal stand partly allowed in terms of our above order

ITA 1255/CHNY/2019[2010-11]Status: DisposedITAT Chennai03 Dec 2024AY 2010-11

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.1255/Chny/2019 (िनधा)रणवष) / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.1662/Chny/2019 (िनधा)रणवष) / Assessment Year: 2011-12) Dcit M/S. Allsec Technologies Limited बनाम/ Corporate Circle-1(1), 560, 562, 7H Century Plaza, Vs. Chennai. Teynampet, Anna Salai, Chennai-600 018. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aacca-5106-G (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Revenue By : Ms. Kavitha (Addl.Cit) - Ld. Sr. Dr " थ"कीओरसे/ Assessee By : Shri Vikram Vijayaraghavan (Advocate) - Ld.Ar सुनवाईकीतारीख/Date Of Hearing : 20-11-2024 घोषणाकीतारीख /Date Of Pronouncement : 03-12-2024 आदेश / O R D E R Manoj Kumar Aggarwal () 1.1 Aforesaid Appeals By Revenue For Assessment Year (Ay) 2010-11 & 2011-12 Has Common Issues. First We Take Up Appeal For Ay 2010-11 Which Arises Out Of The Order Of Learned Commissioner Of Income Tax (Appeals)-1, Chennai [Cit(A)] Dated 31-01-2019 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S. 143(3) R.W.S.

For Appellant: Shri Vikram Vijayaraghavan (Advocate) - Ld.ARFor Respondent: Ms. Kavitha (Addl.CIT) - Ld. Sr. DR
Section 143(3)Section 14ASection 195Section 40Section 9(1)(vi)

…d. However, rejecting the same, Ld. AO computed disallowance u/s 14A r.w.r. 8D(2)(iii) for Rs.11.21 Lacs which was computed at 0.5% of average investments. The Ld. CIT(A), referring to the decision of Special Bench of Tribunal in Vireet Investments Pvt. Ltd. (82 Taxmann.com 415), directed Ld. AO to compute disallowance by considering only those investments which have yielded exempt income during the year. 2.2 We find that aforesaid adjudication is in line with the decision of Special Bench of Tribunal. Therefore, no interference is required in the same. The corresponding ground stand dismissed. 3. Disallowance of…

Bse Limited, Fort, Mumbai vs. DCIT Circle 2(1)(1), Aaykar Bhavan

In the result, assessee’s appeal ITA No

ITA 2662/MUM/2024[2018-19]Status: DisposedITAT Mumbai02 Dec 2024AY 2018-19

Bench: SMT MS. PADMAVATHY S (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 115JSection 143(2)Section 14ASection 201Section 250Section 37(1)

…r as 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 cited 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…

ACIT-2(1)(1), Mumbai vs. Bse Ltd, Mumbai

In the result, assessee’s appeal ITA No

ITA 2440/MUM/2024[2018-19]Status: DisposedITAT Mumbai02 Dec 2024AY 2018-19

Bench: SMT MS. PADMAVATHY S (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 115JSection 143(2)Section 14ASection 201Section 250Section 37(1)

…r as 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 cited 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…

Millennium Appliances India Ltd, Mumbai vs. ITO RG 3(2)(4), Mumbai

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

ITA 3289/MUM/2013[2009-10]Status: DisposedITAT Mumbai29 Nov 2024AY 2009-10

Bench: Smt. Beena Pillai & Smt. Renu Jauhrim/S. Millennium V/S. Ito, Range 3(2)(4), Appliances India Ltd. बनाम Mumbai 171-C, Mittal Court, Aayakar Bhavan, Nariman Point, Mumbai-400020 Mumbai-400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaccm7838D Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Madhur Agarwal &For Respondent: Shri Kailash C. Kanojiya
Section 115JSection 143(1)Section 143(3)Section 14ASection 14A(2)Section 250

…IN THE INCOME-TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER & SMT. RENU JAUHRI, ACCOUNTANT MEMBER M/s. Millennium v/s. ITO, Range 3(2)(4), Appliances India Ltd. बनाम Mumbai 171-C, Mittal Court, Aayakar Bhavan, Nariman Point, Mumbai-400020 Mumbai-400021 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AACCM7838D Appellant/अपीलार्थी .. Respondent/प्रतिवादी Appellant by : Shri Madhur Agarwal & Shri Yash Prakash Respondent by : Shri Kailash C. Kanojiya Date of Hearing 17.10.2024 Date of Pronouncement 29.11 .2024 आदेश / O R D E R PER RENU JAUHRI [A.M.] :- This appeal is filed by the ass…

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 303/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2017-18

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…um, however he pleaded to sustain the addition made by the Assessing Officer and allow the department appeals. 9.3. This issue is no more res-integra since the same is settled by the Special Bench decision in the case of ACIT vs. Vireet Invest ments Pvt. Ltd 82 Taxmann.com 415 (Delhi Tribunal) (SB) wherein it was held as follows: ‘… The question is, whether the amount or amounts of expenditure relatable to exempt income as contemplated in clause (f) to Explanation 1 to section 115JB(2) could be arrived at by resorting to provisions of section 14A or not. The department, contention, is that 13 I.T.A No. 198 & 19…

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 302/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…um, however he pleaded to sustain the addition made by the Assessing Officer and allow the department appeals. 9.3. This issue is no more res-integra since the same is settled by the Special Bench decision in the case of ACIT vs. Vireet Invest ments Pvt. Ltd 82 Taxmann.com 415 (Delhi Tribunal) (SB) wherein it was held as follows: ‘… The question is, whether the amount or amounts of expenditure relatable to exempt income as contemplated in clause (f) to Explanation 1 to section 115JB(2) could be arrived at by resorting to provisions of section 14A or not. The department, contention, is that 13 I.T.A No. 198 & 19…

Suzlon Energy Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad

In the result the Ground Nos

ITA 199/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2017-18

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…um, however he pleaded to sustain the addition made by the Assessing Officer and allow the department appeals. 9.3. This issue is no more res-integra since the same is settled by the Special Bench decision in the case of ACIT vs. Vireet Invest ments Pvt. Ltd 82 Taxmann.com 415 (Delhi Tribunal) (SB) wherein it was held as follows: ‘… The question is, whether the amount or amounts of expenditure relatable to exempt income as contemplated in clause (f) to Explanation 1 to section 115JB(2) could be arrived at by resorting to provisions of section 14A or not. The department, contention, is that 13 I.T.A No. 198 & 19…

Suzlon Energy Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad

In the result the Ground Nos

ITA 198/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

…um, however he pleaded to sustain the addition made by the Assessing Officer and allow the department appeals. 9.3. This issue is no more res-integra since the same is settled by the Special Bench decision in the case of ACIT vs. Vireet Invest ments Pvt. Ltd 82 Taxmann.com 415 (Delhi Tribunal) (SB) wherein it was held as follows: ‘… The question is, whether the amount or amounts of expenditure relatable to exempt income as contemplated in clause (f) to Explanation 1 to section 115JB(2) could be arrived at by resorting to provisions of section 14A or not. The department, contention, is that 13 I.T.A No. 198 & 19…

Coforge Business Process Solutions Private Limited, Maharashtra vs. The Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore

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

ITA 1340/BANG/2024[2017-18]Status: DisposedITAT Bangalore12 Nov 2024AY 2017-18

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2017-18

For Appellant: Shri Sharath Rao - CA, Ms. Vaidehi - CA and Shri Dhiraj - AdvocateFor Respondent: Ms. Neera Malhotra, CIT (DR)
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER Assessment Year: 2017-18 Coforge Business Process Solutions Pvt. Vs. The Dy. Commissioner of Ltd., Income Tax, Building No.2, 7th Floor, Commerzone, Circle – 2(1)(1), S.No.144/14 Samrat Ashok Path, Bengaluru Yerwada, Pune, Maharashtra – 411 006. PAN – AABCC 5793 L APPELLANT RESPONDENT Assessee by : Shri Sharath Rao - CA, Ms. Vaidehi - CA and Shri Dhiraj - Advocate Revenue by : Ms. Neera Malhotra, CIT (DR) Date of hearing : 21.10.2024 Date of Pronouncement : 13.11.2024 O…

Vodafone India Ltd, Mumbai vs. DCIT 8(3)(2), Mumbai

Appeal are allowed for statistical purposes

ITA 6671/MUM/2017[2013-14]Status: DisposedITAT Mumbai22 Oct 2024AY 2013-14

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Ketan VedFor Respondent: Date
Section 115JSection 143(3)Section 144CSection 144C(13)Section 144C(5)Section 14ASection 32Section 32(1)Section 35ASection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL "I’ BENCH, MUMBAI SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER M/s. Vodafone India Limited, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013, Maharashtra [PAN:AAACH5332B] …………. Appellant Deputy Commissioner Vs of Income Tax- 8(3)(2) R. No.620, Chitra Soeji, Aayakar Bhavan, M. K. Road, Mumbai – 400 020, Maharashtra …………. Respondent Appearance For the Appellant/Appellant : Shri Ketan Ved Shri T. Shankar For the Respondent/Department : Date Conclusion of hearing : 29.07.2024 Pronouncement of order : 22.10.202…