ACIT v. Williamson Financial Services Ltd.

140 Taxmann.com 164High Court2022#3247 most cited

What is ACIT v. Williamson Financial Services Ltd. authority for?

An explanation inserted into Section 14A of the Income Tax Act, 1961, is clarificatory and retrospective in nature, meaning it applies from the date the original provision was enacted.

36

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2022 to 2026.

Also referred to as

ACIT v. Williamson Financial Services Ltd · Section 14A · retrospective amendment · clarificatory explanation · Finance Act 2022 · removal of doubt · Income Tax Act

Sections most often in play

Section 14ASection 115JBSection 143(3)Section 36(1)(vii)Section 36(1)(viia)Section 37Section 8DSection 143(2)

Issues it is cited on

section 8d(2)(ii)section 17(2)(iiia)section 8dsection 9(1)(ii)section 17(2)section 5(b)strategic investmentsection 36(2)section 36(1)(viia)section 194hsection 14a(2)interest on securities

Judgments citing ACIT v. Williamson Financial Services Ltd.

Dsp Investment Managers Pvt Ltd, Mumbai vs. Deputy Commissioner of Income Tax 3(1)(1), Mumbai

ITA 3925/MUM/2023[2021-22]Status: DisposedITAT Mumbai13 Feb 2026AY 2021-22

Bench: Ms. Kavitha Rajagopal & Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri Annavaram Kosuri, Sr. DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 3925/MUM/2023 Assessment Year: 2021-22 DSP Finance Pvt. Ltd., (Formerly known as DSP Investment Managers Pvt Ltd.), 10th Floor, Mafatlal Centre, Nariman Point, Mumbai – 400 021 (PAN : AAACD3069K) (Appellant) Deputy Commissioner of Income Tax – 3(1)(1),Mumbai (Respondent) Present for: Assessee : None Revenue : Shri Annavaram Kosuri, Sr. DR Date of Hearing : 23.01.2026 Date of Pronouncement : 13.02.2026 ORDER PER GIRISH AGRAWAL, ACCOUNTANT ΜEMBER The present proceed…

DCIT, Circle 1(1)(1), Ahmedabad vs. Arvind Fashions Limited, Ahmedabad

In the result, both the appeals of the Revenue are dismissed

ITA 758/AHD/2025[2018-19]Status: DisposedITAT Ahmedabad25 Sept 2025AY 2018-19

Bench: Ms. Suchitra Kamble & Narendra Prasad Sinhaita Nos. 757 & 758/Ahd/2025 Assessment Year 2017-18 & 2018-19

For Appellant: Shri Dhrunal Bhatt, A.RFor Respondent: Shri R.P. Rastogi, CIT-D.R
Section 111Section 115JSection 143(2)Section 144Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH Before Ms. Suchitra Kamble, Judicial Member And Narendra Prasad Sinha, Accountant Member ITA Nos. 757 & 758/Ahd/2025 Assessment Year 2017-18 & 2018-19 The DCIT, Arvind Fashions Ltd., Circle-1(1)(1), Main Building, Arvind Ahmedabad Vs Ltd Premises Naroda (Appellant) Road, Ahmedabad PAN: AAOCA0655N (Respondent) Assessee by: Shri Dhrunal Bhatt, A.R. Revenue by: Shri R.P. Rastogi, CIT-D.R. Date of hearing : 17-07-2025 Date of pronouncement : 25-09-2025 आदेश/ORDER Per Suchitra Kamble, Judicial Member: These two appeals filed are against the order dat…

DCIT, Circle 1(1)(1), Ahmedabad vs. Arvind Fashions Limited, Ahmedabad

In the result, both the appeals of the Revenue are dismissed

ITA 757/AHD/2025[2017-18]Status: DisposedITAT Ahmedabad25 Sept 2025AY 2017-18

Bench: Ms. Suchitra Kamble & Narendra Prasad Sinhaita Nos. 757 & 758/Ahd/2025 Assessment Year 2017-18 & 2018-19

For Appellant: Shri Dhrunal Bhatt, A.RFor Respondent: Shri R.P. Rastogi, CIT-D.R
Section 111Section 115JSection 143(2)Section 144Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH Before Ms. Suchitra Kamble, Judicial Member And Narendra Prasad Sinha, Accountant Member ITA Nos. 757 & 758/Ahd/2025 Assessment Year 2017-18 & 2018-19 The DCIT, Arvind Fashions Ltd., Circle-1(1)(1), Main Building, Arvind Ahmedabad Vs Ltd Premises Naroda (Appellant) Road, Ahmedabad PAN: AAOCA0655N (Respondent) Assessee by: Shri Dhrunal Bhatt, A.R. Revenue by: Shri R.P. Rastogi, CIT-D.R. Date of hearing : 17-07-2025 Date of pronouncement : 25-09-2025 आदेश/ORDER Per Suchitra Kamble, Judicial Member: These two appeals filed are against the order dat…

Compact Agencies Pvt. Ltd., Kolkata vs. DCIT/ACIT, Circle 3(1), Kolkata

Appeal of the assessee is allowed

ITA 1259/KOL/2025[2018-2019]Status: DisposedITAT Kolkata13 Aug 2025AY 2018-2019

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

Section 115JSection 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, KOLKATA SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No. 1259/Kol/2025 (Assessment Year 2018-2019) Compact Agencies Pvt. Ltd., Room No. 1A, 20B, West Bengal, East India House, BBD Bag, West Bengal - 700069 [PAN: AADCC6607K] ……..…...…………….... Appellant vs. DCIT/ACIT, Circle – 3(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata - 700069 ................................ Respondent Appearances by: Assessee represented by : Manish Tiwari, FCA Department represented by : Sima Das Biswas, JCIT, Sr. DR Date of concludin…

ACIT-6(1)(1), Mumbai vs. Aditya Birla Sun Life Amc Ltd., Mumbai

In the result, the appeal by the Revenue is partly allowed

ITA 792/MUM/2025[2020-21]Status: DisposedITAT Mumbai08 Jul 2025AY 2020-21

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhailaditya Birla Sun Life Amc Ltd., Tower 1, Jupiter Mill Compound, 17Th Floor, One World Center, 841, Senapati Bapat Marg, ............... Appellant Mumbai - 400013 Pan : Aaacb6134D V/S

For Appellant: Shri Ronak DoshiFor Respondent: Shri Rajesh Kumar Yadav, CIT-DR
Section 139(1)Section 142(1)Section 143(2)Section 143(3)Section 144BSection 250Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Aditya Birla Sun Life AMC Ltd., Tower 1, Jupiter Mill Compound, 17th Floor, One World Center, 841, Senapati Bapat Marg, ............... Appellant Mumbai - 400013 PAN : AAACB6134D v/s ACIT, Circle – 6(1)(1), ……………… Respondent Mumbai ACIT, Circle – 6(1)(1), Mumbai ............... Appellant v/s Aditya Birla Sun Life AMC Ltd., Tower 1, Jupiter Mill Compound, 17th Floor, One World Center, 841, Senapati Bapat Marg, ……………. Respondent Mumbai - 400013 PAN : AAACB6134…

Aditya Birla Sun Life Amc Limited, Mumbai vs. Assessment Unit, Income-Tax Department, National Faceless Assessment Centre (NFAC), Delhi

In the result, the appeal by the Revenue is partly allowed

ITA 494/MUM/2025[2020-21]Status: DisposedITAT Mumbai08 Jul 2025AY 2020-21

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhail

For Appellant: Shri Ronak DoshiFor Respondent: Shri Rajesh Kumar Yadav, CIT-DR
Section 139(1)Section 142(1)Section 143(2)Section 143(3)Section 144BSection 250Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.494/Mum/2025 (Assessment Year : 2020-21) Aditya Birla Sun Life AMC Ltd., Tower 1, Jupiter Mill Compound, 17th Floor, One World Center, 841, Senapati Bapat Marg, Mumbai - 400013 Appellant PAN: AAACB6134D v/s Respondent ACIT, Circle – 6(1)(1), Mumbai ITA No.792/Mum/2025 (Assessment Year : 2020-21) Aditya Birla Sun Life AMC Ltd., Tower 1, Jupiter Mill Compound, 17th Floor, One World Center, 841, Senapati Bapat Marg, Mumbai - 400013 Appellant PAN: AAACB6134D…

Jsw Energy (Barmer) Limited, Mumbai vs. The Assistant Commissioner of Income Tax, Central Circle 8(3), Mumbai

In the result, both the appeals are allowed partly for statistical

ITA 3713/MUM/2024[2020-21]Status: DisposedITAT Mumbai26 Mar 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Appellant: Ms. Neena Jeph, CIT-DR/For Respondent: Mr. Gaurav Kabra
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 3714 /MUM/2024 Assessment Year: 2020-21 JSW Energy Ltd., The Asst. CIT, Central Circle-8(3), 2nd floor, JSW Centre, Bandra Room No. 659, 6th floor, Aayakar Vs. Kurla Complex, Bandra East, Bhavan, Maharishi Karve Road, Mumbai-400051. Mumbai-400020. PAN NO. AAACJ 8109 N Appellant Respondent ITA Nos. 3713/MUM/2024 Assessment Year: 2020-21 JSW Energy (Barmer) Ltd., The Asst. CIT, Central Circle-8(3), 2nd floor, JSW Centre, Bandra Room No. 659, 6th floor,…

DCIT, Circle-2(1)(1), Ahmedabad vs. Jay Chemicals Idndustries Ltd, Ellisbridge, Ahmedabad

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

ITA 1916/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad28 Feb 2025AY 2014-15

Bench: DR. BRR KUMAR (Vice President), Shri T.R. SENTHIL KUMAR (Judicial Member)

Section 143(3)Section 14ASection 37Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH Before: DR. BRR KUMAR, VICE PRESIDENT And Shri T.R. SENTHIL KUMAR, JUDICIAL MEMBER ITA Nos. 1740 & 1916/Ahd/2024 Assessment Year. 2014-15 Jay Chemical Industries The Dy.CIT, Pvt. Ltd. Vs Circle-2(1)(1), Jay House, Near Ahmedabad Panchvati Circle, Ambawadi, Ahmedabad-380006 Gujarat PAN: AAACJ7628J The Dy.CIT, Vs Jay Chemical Circle-2(1)(1), Industries Pvt. Ltd. Ahmedabad Jay House, Near Panchvati Circle, Ambawadi, Ahmedabad-380006 Gujarat PAN: AAACJ7628J (Appellant) (Respondent) Assessee Represented: Shri Nimesh Vayawala, A.R. Revenue Represented: Shr…

Jay Chemical Industries Pvt. Ltd., Ahmedabad vs. The Dy.CIT, Circle-2(1)(1), Ahmedabad

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

ITA 1740/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad28 Feb 2025AY 2014-15

Bench: DR. BRR KUMAR (Vice President), Shri T.R. SENTHIL KUMAR (Judicial Member)

Section 143(3)Section 14ASection 37Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH Before: DR. BRR KUMAR, VICE PRESIDENT And Shri T.R. SENTHIL KUMAR, JUDICIAL MEMBER ITA Nos. 1740 & 1916/Ahd/2024 Assessment Year. 2014-15 Jay Chemical Industries The Dy.CIT, Pvt. Ltd. Vs Circle-2(1)(1), Jay House, Near Ahmedabad Panchvati Circle, Ambawadi, Ahmedabad-380006 Gujarat PAN: AAACJ7628J The Dy.CIT, Vs Jay Chemical Circle-2(1)(1), Industries Pvt. Ltd. Ahmedabad Jay House, Near Panchvati Circle, Ambawadi, Ahmedabad-380006 Gujarat PAN: AAACJ7628J (Appellant) (Respondent) Assessee Represented: Shri Nimesh Vayawala, A.R. Revenue Represented: Shr…

DCIT CC 1(1), Mumbai vs. Edel Finance Company Ltd., Mumbai

In the result, appeal of the revenue is partly allowed, and cross objection of the assessee is dismissed as withdrawn

ITA 3025/MUM/2024[2018-19]Status: DisposedITAT Mumbai10 Sept 2024AY 2018-19

Bench: Shri Anikesh Banerjee () & Shri Girish Agrawal ()

Section 10(34)Section 143(3)Section 144BSection 14ASection 250Section 94(7)

…1 ITA No.3025 /Mum/2024 & CO 134/Mum/2024 Edel Finance Company Limited IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI ANIKESH BANERJEE (JUDICIAL MEMBER) AND SHRI GIRISH AGRAWAL (ACCOUNTANT MEMBER) ITA No.3025 /Mum/2024 (Assessment Year: 2018-19) DCIT, CC 1(1), Mumbai vs Edel Finance Company Ltd 905, 9th Floor, Pratishtha Bhavan Edelwiess House, Off CST Road M.K. Road, Mumbai Kalina, Santacruz(East), Mumbai- 400 098 PAN: AAFCA9652C APPELLANT RESPONDENT CO.No.134/Mum/2024 (Arising out of ITA No.3025 /Mum/2024) (Assessment Year: 2018-19) Edel Finance Company Ltd vs DCIT, CC 1(1), Mumb…

N. K. Proteins Ltd., Ahmedabad vs. The Assistant Commissioner of Income Tax, Circle-3(1)(1), Ahmedabad

ITA 313/AHD/2022[2017-18]Status: DisposedITAT Ahmedabad12 Jun 2024AY 2017-18

Bench: Or During The Course Of Hearing Of The Appeal.”

For Appellant: Shri Vartik Choksi, A.RFor Respondent: Shri Ketan Gajjar, CIT-D.R
Section 115JSection 14ASection 250

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH Before: Shri Siddhartha Nautiyal, Judicial Member And Shri Makarand V. Mahadeokar, Accountant Member Assessment Year : 2017-18 N.K. Proteins Ltd., The ACIT, 7th Floor, Popular House, Circle-3(1)(1), Ashram Road, Ahmedabad Vs Ahmedabad PAN: AAACN9377N (Respondent) (Appellant) Assessee by: Shri Vartik Choksi, A.R. Revenue by: Shri Ketan Gajjar, CIT-D.R. Date of hearing : 03-06-2024 Date of pronouncement : 12-06-2024 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:- This is an appeal filed by the assessee against the order of the ld. Commission…

The Shahabad Coop. Sugar Mills, Shahabad vs. ACIT, Circle, Kurukshetra

ITA 1492/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh28 May 2024AY 2012-13

Bench: Us In Terms Of Section 253 Of The Income Tax Act, 1961. 2. The Assessee Being Aggrieved By The Order Of Ld. Cit(A) Dt. 11/03/2018 Which Is Hereinafter Referred To As The Impugned Order, Before This Tribunal In Form No. 36 Has Interalia Raised The Following Grounds Of Appeal:

For Appellant: Shri Varun Gupta, AdvocateFor Respondent: Shri Dharam Vir, JCIT, Sr. DR
Section 14Section 14ASection 253

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 1492/Chd/2018 िनधा"रण वष" / Assessment Year : 2012-13 The Shahabad Co-op. Sugar Mills बनाम The ACIT Ltd. Circle, Kurukshetra Ladwa Road, Shahabad(M) Distt. Kurukshetra, Haryana "ायी लेखा सं./PAN NO: AAAAT0381N अपीलाथ"/Appellant ""थ"/Respondent िनधा"रती की ओर से/Assessee by : Shri Varun Gupta, Advocate राज" की ओर से/ Revenue by…

Soyuz Trading Co. Ltd., Kolkata vs. DCIT, Cir-7(1), Kolkata.

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

ITA 1130/KOL/2023[2012-13]Status: DisposedITAT Kolkata05 Feb 2024AY 2012-13

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1130/Kol/2023 Assessment Year : 2012-13 Soyuz Trading Co. Ltd (Now Merged With Concenate Advest Advisory (P) Ltd).…………....Appellant C/O Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata – 700069. [Pan: Aagcs3371K] Vs. Dcit, Circle-7(1), Kolkata……..........................................…..…..... Respondent Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri S. Datta, Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : February 01, 2024 Date Of Pronouncing The Order : February 05, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 22.09.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As The ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. For That The Ld. Cit(A) Was Not Justified In Confirming The Disallowance Of Rs.68,65,91 7/- Made By The A.O. By Invoking The Provisions Of Sec. 14A R.W. Rule 8D Which Is Over & Above The Suo-Moto Disallowance Of Rs.9,39,667/- Made By The Assessee Itself.

Section 14ASection 250

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘ए’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.1130/Kol/2023 Assessment Year : 2012-13 Soyuz Trading Co. Ltd (now merged with Concenate Advest Advisory (P) Ltd).…………....Appellant C/o Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2nd Floor, Kolkata – 700069. [PAN: AAGCS3371K] vs. DCIT, Circle-7(1), Kolkata……..........................................…..…..... Respondent Ap…

Arthada Commerce Pvt. Ltd., Kolkata vs. DCIT, Cir-13(1), Kolkata.

In the result, the appeal of the stands allowed

ITA 936/KOL/2023[2017-18]Status: DisposedITAT Kolkata02 Feb 2024AY 2017-18

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.936/Kol/2023 Assessment Year : 2017-18 Arthada Commerce Pvt. Ltd.….…......................…...……………....Appellant Chandimara, Sapuipara, P.O. Sapuipara, P.S.Nischinda, Howrah-711206. [Pan: Aanca4546P] Vs. Dcit, Circle-13(1), Kolkata……..........................................…..…..... Respondent Appearances By: Shri Sourabh Gupta, Ar, Appeared On Behalf Of The Appellant. Shri B. K. Singh, Jcit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : February 01, 2024 Date Of Pronouncing The Order : February 02, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 11.08.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As The ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Sole Grievance Raised By The Assessee In This Appeal Is Relating To The Action Of The Ld. Cit(A) In Disallowing A Sum Of Rs.12,82,633/- Made By The Assessing Officer By Invoking The Provisions Of Section U/S 14A Of The Act. 3. The Ld. Ar Of The Assessee Has Submitted That The Assessee Did Not Earn Any Tax Exempt Income During The Year Under Consideration. He In This Respect Has Relied Upon The Following Case Laws: Cheminvest Ltd. Vs. Cit 378 Itr 33 (Del).

Section 14ASection 250

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘ए’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.936/Kol/2023 Assessment Year : 2017-18 Arthada Commerce Pvt. Ltd.….…......................…...……………....Appellant Chandimara, Sapuipara, P.O. Sapuipara, P.S.Nischinda, Howrah-711206. [PAN: AANCA4546P] vs. DCIT, Circle-13(1), Kolkata……..........................................…..…..... Respondent Appearances by: Shri Sourabh Gupta, AR, appeared on behalf of the…

DCIT-2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 3375/MUM/2023[2016-17]Status: DisposedITAT Mumbai24 Jan 2024AY 2016-17

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

…he Explanation inserted by the Finance Act, 2022 is clarificatory in nature and therefore, should be applied retrospectively. The ld. DR further submitted that the Guwahati bench of the Tribunal in the case of ACIT vs Williomson Financial Services Ltd ((2022) 140 Taxmann.com 164 (Guwahati – Trib)) while considering the similar issue has correctly interpreted the word used in HDFC Bank Ltd. the Explanation namely "the provisions of this section shall apply and shall be deemed to have always applied" which would mean that the provisions are clarificatory in nature and is inserted only for the purpose of removal of…

DCIT 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 3374/MUM/2023[2017-18]Status: DisposedITAT Mumbai24 Jan 2024AY 2017-18

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

…he Explanation inserted by the Finance Act, 2022 is clarificatory in nature and therefore, should be applied retrospectively. The ld. DR further submitted that the Guwahati bench of the Tribunal in the case of ACIT vs Williomson Financial Services Ltd ((2022) 140 Taxmann.com 164 (Guwahati – Trib)) while considering the similar issue has correctly interpreted the word used in HDFC Bank Ltd. the Explanation namely "the provisions of this section shall apply and shall be deemed to have always applied" which would mean that the provisions are clarificatory in nature and is inserted only for the purpose of removal of…

DCIT 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 3371/MUM/2023[2018-19]Status: DisposedITAT Mumbai24 Jan 2024AY 2018-19

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

…he Explanation inserted by the Finance Act, 2022 is clarificatory in nature and therefore, should be applied retrospectively. The ld. DR further submitted that the Guwahati bench of the Tribunal in the case of ACIT vs Williomson Financial Services Ltd ((2022) 140 Taxmann.com 164 (Guwahati – Trib)) while considering the similar issue has correctly interpreted the word used in HDFC Bank Ltd. the Explanation namely "the provisions of this section shall apply and shall be deemed to have always applied" which would mean that the provisions are clarificatory in nature and is inserted only for the purpose of removal of…

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax-2(3)(1), Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 1785/MUM/2023[2018-2019]Status: DisposedITAT Mumbai24 Jan 2024AY 2018-2019

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

…he Explanation inserted by the Finance Act, 2022 is clarificatory in nature and therefore, should be applied retrospectively. The ld. DR further submitted that the Guwahati bench of the Tribunal in the case of ACIT vs Williomson Financial Services Ltd ((2022) 140 Taxmann.com 164 (Guwahati – Trib)) while considering the similar issue has correctly interpreted the word used in HDFC Bank Ltd. the Explanation namely "the provisions of this section shall apply and shall be deemed to have always applied" which would mean that the provisions are clarificatory in nature and is inserted only for the purpose of removal of…

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax-2(3)(1), Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 1784/MUM/2023[2017-2018]Status: DisposedITAT Mumbai24 Jan 2024AY 2017-2018

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

…he Explanation inserted by the Finance Act, 2022 is clarificatory in nature and therefore, should be applied retrospectively. The ld. DR further submitted that the Guwahati bench of the Tribunal in the case of ACIT vs Williomson Financial Services Ltd ((2022) 140 Taxmann.com 164 (Guwahati – Trib)) while considering the similar issue has correctly interpreted the word used in HDFC Bank Ltd. the Explanation namely "the provisions of this section shall apply and shall be deemed to have always applied" which would mean that the provisions are clarificatory in nature and is inserted only for the purpose of removal of…

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax-2(3)(1), Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 1783/MUM/2023[2016-2017]Status: DisposedITAT Mumbai24 Jan 2024AY 2016-2017

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

…he Explanation inserted by the Finance Act, 2022 is clarificatory in nature and therefore, should be applied retrospectively. The ld. DR further submitted that the Guwahati bench of the Tribunal in the case of ACIT vs Williomson Financial Services Ltd ((2022) 140 Taxmann.com 164 (Guwahati – Trib)) while considering the similar issue has correctly interpreted the word used in HDFC Bank Ltd. the Explanation namely "the provisions of this section shall apply and shall be deemed to have always applied" which would mean that the provisions are clarificatory in nature and is inserted only for the purpose of removal of…