What is ACIT v. Vireet Investment Pvt. Ltd. authority for?

No disallowance under section 14A can be made while computing book profits under section 115JB unless the expenditure is debited to the profit and loss account and satisfies clause (f) of Explanation 1 to section 115JB(2).

How many judgments cite ACIT v. Vireet Investment Pvt. Ltd.?

882 judgments on BharatTax cite ACIT v. Vireet Investment Pvt. Ltd. (165 ITD 27), spanning 2017 to 2026.

Which sections of the Income Tax Act does ACIT v. Vireet Investment Pvt. Ltd. come up under?

It is most often cited in judgments turning on Section 14A, Section 115JB, Section 143(3), Section 1961, Section 8D, Section 37(1).

ACIT v. Vireet Investment Pvt. Ltd. (165 ITD 27)

DCIT Cir 3(3), Mumbai vs. Value Industries Ltd, Mumbai

In the result, the appeals of the Revenue are dismissed

ITA 5763/MUM/2013[2010-11]Status: DisposedITAT Mumbai19 Sept 2018AY 2010-11

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwalita No.4417/Mum/2012 Assessment Year : 2008-09

For Appellant: Shri Rajeev Gubgotra

Section 10(34)Section 10(38)Section 115JSection 14A

…nder clause (f) of Explanation 1 of section 115JB of the Act, in so far as it relates to expenditure attributable to exempt income. This view has also been expressed by the ITAT, Delhi, Special Bench in case of ACIT vs. Vireet Investment Private Ltd. (2017) 165 ITD 27. In view of the above, we uphold the decision of the learned CIT(A) by dismissing the ground raised. 10. Our aforesaid decision applies mutatis mutandis to the other two appeals of the Revenue under consideration. 8 ITA 4417/Mum/12, 1857&5763/Mum/13, CO 124, 125 & 126/Mum/2016 In the result, the appeals of the Revenue are dismissed. CO 124,…

DCIT RG 3(3), Mumbai vs. Value Indusries Ltd, Mumbai

In the result, the appeals of the Revenue are dismissed

ITA 1856/MUM/2013[2009-10]Status: DisposedITAT Mumbai19 Sept 2018AY 2009-10

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwalita No.4417/Mum/2012 Assessment Year : 2008-09

For Appellant: Shri Rajeev Gubgotra

Section 10(34)Section 10(38)Section 115JSection 14A

…nder clause (f) of Explanation 1 of section 115JB of the Act, in so far as it relates to expenditure attributable to exempt income. This view has also been expressed by the ITAT, Delhi, Special Bench in case of ACIT vs. Vireet Investment Private Ltd. (2017) 165 ITD 27. In view of the above, we uphold the decision of the learned CIT(A) by dismissing the ground raised. 10. Our aforesaid decision applies mutatis mutandis to the other two appeals of the Revenue under consideration. 8 ITA 4417/Mum/12, 1857&5763/Mum/13, CO 124, 125 & 126/Mum/2016 In the result, the appeals of the Revenue are dismissed. CO 124,…

DCIT Cir 3(3), Mumbai vs. Value Industries Ltd, Mumbai

In the result, the appeals of the Revenue are dismissed

ITA 4417/MUM/2012[2008-09]Status: DisposedITAT Mumbai19 Sept 2018AY 2008-09

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwalita No.4417/Mum/2012 Assessment Year : 2008-09

For Appellant: Shri Rajeev Gubgotra

Section 10(34)Section 10(38)Section 115JSection 14A

…nder clause (f) of Explanation 1 of section 115JB of the Act, in so far as it relates to expenditure attributable to exempt income. This view has also been expressed by the ITAT, Delhi, Special Bench in case of ACIT vs. Vireet Investment Private Ltd. (2017) 165 ITD 27. In view of the above, we uphold the decision of the learned CIT(A) by dismissing the ground raised. 10. Our aforesaid decision applies mutatis mutandis to the other two appeals of the Revenue under consideration. 8 ITA 4417/Mum/12, 1857&5763/Mum/13, CO 124, 125 & 126/Mum/2016 In the result, the appeals of the Revenue are dismissed. CO 124,…

Eih Limited, Kolkata vs. DCIT, Circle - 8(1), Kolkata

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

ITA 2225/KOL/2017[2013-14]Status: DisposedITAT Kolkata14 Sept 2018AY 2013-14

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 2225/Kol/2017 Assessment Year : 2013-14 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Ravi Sharma, Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 03.09..2018 Date Of Pronouncement : 14.09.2018

For Appellant: Shri Ravi Sharma, ARFor Respondent: Shri G.Mallikarjuna, CIT DR

Section 144C(5)Section 92B

…h regard to disallowance u/s 14A of the Act read with Rule 8D of the Rules while computing the book profits u/e 115JB of the Act, we hold that the Hon’ble Special Bench of Delhi Tribunal had held in the case of ACIT vs. Vireet Investment Pvt. Ltd. reported in 165 ITD 27 that the computation mechanism provided under Rule 8D of the Rules cannot be applied for the disallowance u/s 14A in the computation of book profit u/s 115JB of the Act and for this purpose, the expenditure debited in the 8 9 M/s EIH Limted A.Yr.2013-14 profit & loss account is to be gone into by the ld. AO. In the instant case, the assessee had…

DCIT 3(2)(1), Mumbai vs. Mangalore Refinery and Petrochemicals Ltd, Mumbai

In the result the appeal filed by the revenue is dismissed

ITA 7241/MUM/2014[2009-10]Status: DisposedITAT Mumbai07 Sept 2018AY 2009-10

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2009-10 Mangalore Refinery & Addl. Cit-3(2), Mumbai Petrochemicals Ltd. 15Th Vs. Floor, Maker Tower, Ewing, Cuffe Parade, Mumbai- 400005. Pan No. Aaacm5132A Respondent Appellant Assessment Year: 2009-10 Dcit-3(2) Room No. Mangalore Refinery & 674, 6Th Floor, Petrochemicals Ltd. 15Th Vs. Aayakarbhavan, M. K. Floor, Maker Tower, Ewing, Road, Mumbai-400020. Cuffe Parade, Mumbai- 400005. Pan No. Aaacm5132A Appellant Respondent Assessee By : Mr. J.D.J. Mistri, Senior Advocate & Mr. Madhur Agrawal, Advocate Revenue By : Mr.Samuel Darse, Cit(Dr) Date Of Hearing : 12/06/2018 Date Of Pronouncement: 07/09/2018

For Appellant: Mr. J.D.J. Mistri, Senior AdvocateFor Respondent: Mr.Samuel Darse, CIT(DR)

Section 143(3)Section 195Section 40Section 44B

…it u/s 115JB of the Act. In appeal, the Ld. CIT(A) has confirmed the above disallowance. 44. Before us, the Ld. counsel of the assessee submits that the issue has been decided by the Special Bench of the Tribunal in ACIT v. Vireet Investments (P.) Ltd. (2017) 165 ITD 27 (Delhi-Trib) (SB). On the other hand, the Ld. DR relies on the order of the Ld. CIT(A). 45. We find that in Vireet Investment (P.) Ltd. (supra), the Special Bench of the Tribunal has held that computation under clause (f) of Explanation 1 to section 115JB (2) is to be made without resorting to computation as contemplated u/s 14A r.w. Rule 8D. Man…

Magnalore Refinery and Petrochemicals Ltd, Mumbai vs. Addl CIT 3(2)

In the result the appeal filed by the revenue is dismissed

ITA 7133/MUM/2014[2009-10]Status: DisposedITAT Mumbai07 Sept 2018AY 2009-10

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2009-10 Mangalore Refinery & Addl. Cit-3(2), Mumbai Petrochemicals Ltd. 15Th Vs. Floor, Maker Tower, Ewing, Cuffe Parade, Mumbai- 400005. Pan No. Aaacm5132A Respondent Appellant Assessment Year: 2009-10 Dcit-3(2) Room No. Mangalore Refinery & 674, 6Th Floor, Petrochemicals Ltd. 15Th Vs. Aayakarbhavan, M. K. Floor, Maker Tower, Ewing, Road, Mumbai-400020. Cuffe Parade, Mumbai- 400005. Pan No. Aaacm5132A Appellant Respondent Assessee By : Mr. J.D.J. Mistri, Senior Advocate & Mr. Madhur Agrawal, Advocate Revenue By : Mr.Samuel Darse, Cit(Dr) Date Of Hearing : 12/06/2018 Date Of Pronouncement: 07/09/2018

For Appellant: Mr. J.D.J. Mistri, Senior AdvocateFor Respondent: Mr.Samuel Darse, CIT(DR)

Section 143(3)Section 195Section 40Section 44B

…it u/s 115JB of the Act. In appeal, the Ld. CIT(A) has confirmed the above disallowance. 44. Before us, the Ld. counsel of the assessee submits that the issue has been decided by the Special Bench of the Tribunal in ACIT v. Vireet Investments (P.) Ltd. (2017) 165 ITD 27 (Delhi-Trib) (SB). On the other hand, the Ld. DR relies on the order of the Ld. CIT(A). 45. We find that in Vireet Investment (P.) Ltd. (supra), the Special Bench of the Tribunal has held that computation under clause (f) of Explanation 1 to section 115JB (2) is to be made without resorting to computation as contemplated u/s 14A r.w. Rule 8D. Man…

Kewal Kiran Clothing Ltd, Mumbai vs. Addt CIT RG 9(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 281/MUM/2017[2011-12]Status: DisposedITAT Mumbai10 Aug 2018AY 2011-12

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Kewal Kiran Clothing Ltd., V. Addt.Cit, Range- 9(2) Kewal Kiran Estate, 460/7, Aayakar Bhavan, M.K. Road, I.B. Patel Road., Near Western Mumbai-400 020 Express Highway, Goregaon (E), Mumbai – 400 063

For Appellant: Shri Ronak G. Gandhi &For Respondent: Shri Manoj Kumar Singh

Section 14A

…stments which yielded dividend income should be considered for the purpose of computing the disallowance under Rule 8D(2)(iii). Reliance is placed in the case of ACB India Ltd. v. ACIT [62 taxmann.com 71 (Del.)] and ACIT v. Vireet Investments Private Limited [165 ITD 27 (Del. Trib) (SB)]. 6. Ld. DR vehemently supported the orders of the authorities below. 7. We have heard the rival submissions, perused the orders of the authorities below. Having perused the orders of the Authorities below, Paper Book and the case laws relied on, we notice that the assessee had sufficient surplus funds for making investments. Fu…

Shivalik Ventures P. Ltd, Mumbai vs. DCIT (OSD 1) Cen RG 7, Mumbai

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

ITA 5136/MUM/2015[2010-11]Status: DisposedITAT Mumbai08 Aug 2018AY 2010-11

Bench: Shri R.C. Sharma, Hon'Ble & Shri C.N. Prasad, Hon'Blem/S. Shivalik Ventures Pvt. Ltd., V. Dcit (Osd – 1), Plot No. 756, Central Range – 7, Staney Fernandes Wadi, Aayakar Bhavan, D.S. Babrekar Marg, Dadar (W), M.K. Road, Mumbai – 400 028 Mumbai-400 020 Pan: Aalcs 7683 R (Appellant) (Respondent) Assessee By : Shri Anuj Kishanadwala Department By : Shri Vidisha Kalra

For Appellant: Shri Anuj KishanadwalaFor Respondent: Shri Vidisha Kalra

Section 14A

…those investments which yielded dividend income should be considered for computing the disallowance. He placed reliance on the decision of the 3 M/s. Shivalik Ventures Pvt. Ltd., Special Bench of the Tribunal in the case of ACIT v. Vireet investment Pvt ltd [165 ITD 27]. 6. Ld. DR vehemently supported the orders of the authorities below. 7. We have heard the rival submissions, perused the orders of the authorities below. On perusal of the balance sheet, we notice that the assessee earned interest income of ₹.2,01,80,733/- and incurred interest expenditure of ₹.1,02,39,665/- and the net interest income is posit…

Gujarat Fluorochemicals Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Circle-1(1)(1), Vadodara

In the result, both appeals of the assessee are partly allowed

ITA 805/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad03 Aug 2018AY 2012-13

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

For Appellant: Shri S.N. Soparkar and Shri Parin Shah, ARFor Respondent: Shri O.P. Vaishnav, CIT-DR

Section 115JSection 143(2)Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘D’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 AND Asst.Year : 2013-2014 Gujarat Fluorochemicals Ltd. Vs. DCIT, Cir.1(1)(1) 2nd Floor, ABS Tower Vadodara. Old Padra Road Vadodara 390 007. PAN : AAACG 6725 H अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee by : Shri S.N. Soparkar and Shri Parin Shah, AR Revenue by : Shri O.P. Vaishnav, CIT-DR सुनवाई क" तार"ख/Date of Hearing : 12/07/2018 घोषणा…

Gujarat Flurochemicals Limited., Vadodara vs. The ACIT, Circle-1(1)(1), Vadodara

In the result, both appeals of the assessee are partly allowed

ITA 2744/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad03 Aug 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

For Appellant: Shri S.N. Soparkar and Shri Parin Shah, ARFor Respondent: Shri O.P. Vaishnav, CIT-DR

Section 115JSection 143(2)Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘D’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 AND Asst.Year : 2013-2014 Gujarat Fluorochemicals Ltd. Vs. DCIT, Cir.1(1)(1) 2nd Floor, ABS Tower Vadodara. Old Padra Road Vadodara 390 007. PAN : AAACG 6725 H अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee by : Shri S.N. Soparkar and Shri Parin Shah, AR Revenue by : Shri O.P. Vaishnav, CIT-DR सुनवाई क" तार"ख/Date of Hearing : 12/07/2018 घोषणा…

M/S. Indiabulls Capital Services Ltd., New Delhi vs. ACIT, New Delhi

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

ITA 1546/DEL/2014[2008-09]Status: DisposedITAT Delhi02 Aug 2018AY 2008-09

Bench: Shri R.S. Syal & Shri Joginder Singhassessment Year : 2008-09

For Appellant: Shri Rakesh Gupta &For Respondent: Shri Arun Kumar Yadav, Sr. DR

Section 14A

…of Rule 8D(2)(iii), should be confined to those securities in respect of which exempt income is earned and not the total investments. Similar view has been taken by the Special Bench of the Tribunal in the case of ACIT vs. Vireet Investments (P) Ltd. (2017) 165 ITD 27 (Del) (SB) holding that only those investments should be considered for computing average value of investments which yield exempt income during the year. In view of the afore referred binding precedents, we set aside the impugned order to this extent and remit the matter to the file of Assessing Officer for re-computing the disallowance under…

Asst CIT 9(2)(2), Mumbai vs. E- City Real Estate P.Ltd, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 914/MUM/2017[2012-13]Status: DisposedITAT Mumbai24 Jul 2018AY 2012-13

Bench: Shri C.N. Prasad & Shri Rajesh Kumarassessment Year: 2012-13

For Appellant: Shri Jay Bhansali, A.RFor Respondent: Shri M. Rajguru, D.R

Section 14A

…, we find no infirmity in the order of Ld. CIT(A) which has been passed after following the decision of the Hon’ble Delhi High Court in the case of Cheminvest Ltd. vs. CIT (supra). Besides, the issue has been settled in the case of ACIT vs. Vireet Investments 165 ITD 27 (Special Bench) wherein it has been held that only those investments in shares and securities should be considered for the purpose of average investment 5 M/s. E-City Real Estates Pvt. Ltd. tabulated to work out the disallowance under section 14A read with rule 8D(2)(iii). We therefore affirm the order of Ld. CIT(A) on this issue by dismissing th…

Ewart Investments Ltd, Mumbai vs. DCIT 2(1), Mumbai

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

ITA 414/MUM/2017[2011-12]Status: DisposedITAT Mumbai24 Jul 2018AY 2011-12

Bench: Shri C.N. Prasad & Shri Rajesh Kumarassessment Year: 2011-12

For Appellant: Shri Golvala, A.RFor Respondent: Shri V. Justin, D.R

Section 1Section 115JSection 14ASection 23Section 24

…ating the disallowance under Rule 8D(2)(iii), the investments which did not yield any exempt income during the year has to be excluded. The Ld. Counsel placed reliance on the decision of Delhi Special Bench in the case of ACIT vs. Vireet Investments Pvt. Ltd. 165 ITD 27 wherein it has been held by the Special Bench that investments not yielding any income during the year has to be excluded while calculating the average investments and only then disallowance has to be worked out. The Ld. A.R. prayed before the Bench that the AO be directed to compute the disallowance under Rule 8D(2)(iii) by not taking into accoun…

Tata Investment Corporation Ltd., Mumbai vs. DCIT-2(3)(1), Mumbai

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 2332/MUM/2016[2012-13]Status: DisposedITAT Mumbai28 Jun 2018AY 2012-13

Bench: Shri B.R. Baskaran & Shri Amarjit Singhm/S. Tata Investment D C I T - 2(3)(1) Corporation Ltd. Room No. 552, 5Th Floor Elphistone Building Vs. Aayakar Bhavan, M.K. Road 2Nd Floor, 10, Veer Nariman Mumbai 400020 Road, Mumbai 400001 Pan – Aaact4120F Appellant Respondent

For Appellant: Shri M.M. Golvala &For Respondent: Shri V. Vidhyadhar

Section 115JSection 14A

…the disallowance computed under Section 14A of the Act for the purpose of computing book profit under Section 115JB of the Act. 6. The learned A.R. placed reliance on the decision rendered by the Special Bench in the case of Vireet Investment P. Ltd. (2017) 165 ITD 27 (Del) wherein it was held that the addition under clause (f) of Explanation 1 to Section 115JB(2) relating to exempt income should be computed without resorting to computation contemplated under Section 14A read with Rule 8D of the I.T. Rules. The learned A.R. submitted that an identical issue was considered by the Coordinate Bench in assessee’s o…

Vulvan Traders P. Ltd, Mumbai vs. ITO 13(3)(3), Mumbai

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

ITA 5657/MUM/2016[2012-13]Status: DisposedITAT Mumbai27 Jun 2018AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Vulvan Traders Pvt. Ltd., V. Income Tax Officer, Ward 13(3)(3) 805, A Wing, Corporate Avenue, Room No. 227, Aayakar Bhavan, Sonawala Road, Goregaon (E) M.K. Road, Mumbai-400 020 Mumbai – 400 063

For Appellant: Shri Piyush ChaturvediFor Respondent: Ms. Pooja Swaroop

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER M/s. Vulvan Traders Pvt. Ltd., v. Income Tax Officer, Ward 13(3)(3) 805, A Wing, Corporate Avenue, Room No. 227, Aayakar Bhavan, Sonawala Road, Goregaon (E) M.K. Road, Mumbai-400 020 Mumbai – 400 063 PAN NO: AAACV 1603 K (Appellant) (Respondent) Assessee by : Shri Piyush Chaturvedi Department by : Ms. Pooja Swaroop Date of Hearing : 18.04.2018 Date of Pronouncement : 27.06.2018 O R D E R PER C.N. PRASAD (JM) 1. This appeal is filed by the assessee agai…

Sistas P.Ltd, Mumbai vs. DCIT (OSD) 2(3), Mumbai

In the result, the appeal is partly allowed

ITA 1256/MUM/2016[2007-08]Status: DisposedITAT Mumbai22 Jun 2018AY 2007-08

Bench: Shri Joginder Singh () & Shri N.K. Pradhan () Assessment Year: 2007-08 & Assessment Year: 2009-10 & Assessment Year: 2011-12 Sistas Private Ltd. Dy. Commissioner Of 101, Mahatma Gandhi Vs. Income Tax (Ods)-2(3), Road, 3Rd Floor, Shetty Aayakar Bhavan, M.K. House Mumbai-400023. Road, Mumbai-400020. Pan No. Aaacs5758E Appellant Respondent Assessee By : Mr. Prasad Bapat, Ar Revenue By : Mr. V. Justin, Dr Date Of Hearing : 29/05/2018 Date Of Pronouncement: 22/06/2018

For Appellant: Mr. Prasad Bapat, ARFor Respondent: Mr. V. Justin, DR

Section 115JSection 143(3)Section 14ASection 24Section 254

…u/s 14A. Therefore, he directed the AO to disallow the same u/s 14A and add to the income u/s 115JB. 5. We find that the above issue has been decided in favour of the assessee by the Special Bench of the Tribunal in ACIT v. Vireet Investment (P.) Ltd. (2017) 165 ITD 27 (Delhi-Trib) (SB), wherein it is held that computation under clause (f) of Explanation 1 to section 115JB(2) is to be made without resorting to computation as contemplated u/s 14A r.w. Rule 8D. By following the above decision, we set aside the order of the Ld. CIT(A) on the above issue and allow the 1st ground of appeal. Sistas Private Ltd. 6. No…

Sistas P.Ltd, Mumbai vs. Asst CIT (OSD)2(3), Mumbai

In the result, the appeal is partly allowed

ITA 3847/MUM/2013[2009-10]Status: DisposedITAT Mumbai22 Jun 2018AY 2009-10

Bench: Shri Joginder Singh () & Shri N.K. Pradhan () Assessment Year: 2007-08 & Assessment Year: 2009-10 & Assessment Year: 2011-12 Sistas Private Ltd. Dy. Commissioner Of 101, Mahatma Gandhi Vs. Income Tax (Ods)-2(3), Road, 3Rd Floor, Shetty Aayakar Bhavan, M.K. House Mumbai-400023. Road, Mumbai-400020. Pan No. Aaacs5758E Appellant Respondent Assessee By : Mr. Prasad Bapat, Ar Revenue By : Mr. V. Justin, Dr Date Of Hearing : 29/05/2018 Date Of Pronouncement: 22/06/2018

For Appellant: Mr. Prasad Bapat, ARFor Respondent: Mr. V. Justin, DR

Section 115JSection 143(3)Section 14ASection 24Section 254

…u/s 14A. Therefore, he directed the AO to disallow the same u/s 14A and add to the income u/s 115JB. 5. We find that the above issue has been decided in favour of the assessee by the Special Bench of the Tribunal in ACIT v. Vireet Investment (P.) Ltd. (2017) 165 ITD 27 (Delhi-Trib) (SB), wherein it is held that computation under clause (f) of Explanation 1 to section 115JB(2) is to be made without resorting to computation as contemplated u/s 14A r.w. Rule 8D. By following the above decision, we set aside the order of the Ld. CIT(A) on the above issue and allow the 1st ground of appeal. Sistas Private Ltd. 6. No…

Raptakos Brett and Co. Ltd, Mumbai vs. DCIT RG 5(3)(1), Mumbai

In the result, appeal of the assessee is partly allowed as indicated above

ITA 4427/MUM/2016[2012-13]Status: DisposedITAT Mumbai20 Jun 2018AY 2012-13

Bench: Shri C.N. Prasad & Shri Rajesh Kumarassessment Year: 2012-13

For Appellant: Shri Yogesh A Thar, A.RFor Respondent: Shri M.C. Omi Ningshen, D.R

Section 115Section 115JSection 14ASection 234B

…) upholding the action of AO in adding the disallowance under section 14A to the extent of Rs.2,27,18,529/- to the book profit under section 115 JB of the Act. The issue is decided by the Special Bench Delhi in the case of ACIT Vs Vireet Investment Pvt. Ltd. (165 ITD 27) wherein it has been held that the computation under clause (f) of Explanation 1 to section 115JB(2) is to be made without resorting to the computation as contemplated under section 14A read with Rule 8D of the Income Tax Rules. Thus respectfully following the said decision we restore this ground to the AO who shall decide the issue keeping in vie…

Punjab & Sind Bank, New Delhi vs. DCIT, New Delhi

The appeal are allowed for statistical purposes

ITA 1249/DEL/2015[2012-13]Status: DisposedITAT Delhi12 Jun 2018AY 2012-13

Bench: Sh. Amit Shukla & Sh. O.P. Kant

Section 115JSection 143(2)Section 143(3)Section 14ASection 234BSection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘F’, NEW DELHI BEFORE SH. AMIT SHUKLA, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER ITA Nos.1248 & 1249/Del/2015 Assessment Years: 2011-12 & 2012-13 Punjab & Sind Bank, Vs. DCIT, HO. Accounts & Audit Circle-14(1), New Delhi Department, First Floor, 21, Rajinder Place, New Delhi PAN :AAACP1206G (Appellant) (Respondent) Assessee by Sh. Vivek Gupta, CA Department by Ms. Paramita Tripathi, CIT(DR) Date of hearing 22.05.2018 Date of pronouncement 12.06.2018 ORDER PER O.P. KANT, A.M.: These two appeals by the assessee are directed against two separate orders, b…

Punjab & Sind Bank, New Delhi vs. DCIT, New Delhi

The appeal are allowed for statistical purposes

ITA 1248/DEL/2015[2011-12]Status: DisposedITAT Delhi12 Jun 2018AY 2011-12

Bench: Sh. Amit Shukla & Sh. O.P. Kant

Section 115JSection 143(2)Section 143(3)Section 14ASection 234BSection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘F’, NEW DELHI BEFORE SH. AMIT SHUKLA, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER ITA Nos.1248 & 1249/Del/2015 Assessment Years: 2011-12 & 2012-13 Punjab & Sind Bank, Vs. DCIT, HO. Accounts & Audit Circle-14(1), New Delhi Department, First Floor, 21, Rajinder Place, New Delhi PAN :AAACP1206G (Appellant) (Respondent) Assessee by Sh. Vivek Gupta, CA Department by Ms. Paramita Tripathi, CIT(DR) Date of hearing 22.05.2018 Date of pronouncement 12.06.2018 ORDER PER O.P. KANT, A.M.: These two appeals by the assessee are directed against two separate orders, b…

ACIT v. Vireet Investment Pvt. Ltd.

What is ACIT v. Vireet Investment Pvt. Ltd. authority for?

Also referred to as

Also reported as

Sections most often in play

Issues it is cited on

Judgments citing ACIT v. Vireet Investment Pvt. Ltd.

DCIT Cir 3(3), Mumbai vs. Value Industries Ltd, Mumbai

DCIT RG 3(3), Mumbai vs. Value Indusries Ltd, Mumbai

DCIT Cir 3(3), Mumbai vs. Value Industries Ltd, Mumbai

Eih Limited, Kolkata vs. DCIT, Circle - 8(1), Kolkata

DCIT 3(2)(1), Mumbai vs. Mangalore Refinery and Petrochemicals Ltd, Mumbai

Magnalore Refinery and Petrochemicals Ltd, Mumbai vs. Addl CIT 3(2)

Kewal Kiran Clothing Ltd, Mumbai vs. Addt CIT RG 9(2), Mumbai

Shivalik Ventures P. Ltd, Mumbai vs. DCIT (OSD 1) Cen RG 7, Mumbai

Gujarat Fluorochemicals Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Circle-1(1)(1), Vadodara

Gujarat Flurochemicals Limited., Vadodara vs. The ACIT, Circle-1(1)(1), Vadodara

M/S. Indiabulls Capital Services Ltd., New Delhi vs. ACIT, New Delhi

Asst CIT 9(2)(2), Mumbai vs. E- City Real Estate P.Ltd, Mumbai

Ewart Investments Ltd, Mumbai vs. DCIT 2(1), Mumbai

Tata Investment Corporation Ltd., Mumbai vs. DCIT-2(3)(1), Mumbai

Vulvan Traders P. Ltd, Mumbai vs. ITO 13(3)(3), Mumbai

Sistas P.Ltd, Mumbai vs. DCIT (OSD) 2(3), Mumbai

Sistas P.Ltd, Mumbai vs. Asst CIT (OSD)2(3), Mumbai

Raptakos Brett and Co. Ltd, Mumbai vs. DCIT RG 5(3)(1), Mumbai

Punjab & Sind Bank, New Delhi vs. DCIT, New Delhi

Punjab & Sind Bank, New Delhi vs. DCIT, New Delhi