Biocon Ltd. v. DCIT

35 Taxmann.com 335Income Tax Appellate Tribunal2013#240 most cited

What is Biocon Ltd. v. DCIT authority for?

The discount arising from the grant of Employee Stock Option Plans (ESOPs) is an allowable business expenditure under Section 37(1) of the Income-tax Act, 1961, as it is an ascertained liability, not a contingent one, and constitutes a revenue expense rather than a capital expense.

322

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2026.

Also referred to as

Biocon Ltd. v. DCIT · ESOP discount deduction · Employee Stock Option Plan expenditure · Section 37(1) deduction · business expenditure · revenue expenditure · contingent liability · capital expenditure · ITAT Special Bench · 144 ITD 21

Also reported as

144 ITD 21155 TTJ 64925 ITR (Trib) 602

Sections most often in play

Section 37(1)Section 143(3)Section 14ASection 37Section 40A(2)(b)Section 115JBSection 8DSection 144B

Issues it is cited on

section 2(15a)section 17(2)(iiia)section 50(1)section 17(2)section 80absection 54esection 80msection 10(15)section 10(33)section 14a(1)section 36(1)(viii)section 54ec

Judgments citing Biocon Ltd. v. DCIT

ACIT, Ltu-1, Kolkata vs. M/S Hindustan Copper Ltd., Kolkata

In the result, Revenue’s appeal stands dismissed

ITA 1616/KOL/2016[2012-13]Status: DisposedITAT Kolkata04 Apr 2018AY 2012-13

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2012-13 Acit, Ltu-1, V/S. M/S Hindustan Copper 6Th Floor, Large Tax Ltd., Tamra Bhawan, Payer Unit, 180, Ashutosh Chowdhury Shantipally, Kolkata-107 Avenue, Kolkata-19 [Pan No.Aaach 7409 R] .. अपीलाथ" /Appellant ""यथ"/Respondent Md. Usman Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri Sanjay Bhattacharya, Fca ""यथ" क" ओर से/By Respondent 16-01-2018 सुनवाई क" तार"ख/Date Of Hearing 04-04-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-23, Kolkata Dated 11.05.2016. Assessment Was Framed By Acit, Ltu-1, Kolkata U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 12.03.2015 For Assessment Year 2012-13. The Grounds Raised By Revenue Reads As Under:- “1(A) That On The Facts & Circumstances Of The Case, Ld. Cit Erred In Law & On Facts While Holding That Club Subscription Fees Were Annual Subscriptions Including Renewal Of Corporate Club Member Fees Whereas The Club Subscription Fees Were Actually Capital Expenditure Amounting To Rs.18,75,767/- & Were Never Claimed By Assessee In Earlier Years As Revenue Expenditure. (B) That On The Facts & Circumstances Of The Case, Ld. Cit(A) Erred In Law & On Facts While Holding That The Club Subscription Fees Were Revenue In Nature & Not Capital Expenditure Relying On The Decision Of Dcit Vs. Makers Development Services Ltd. [1994] 75 Taxman 125 (Bom).

Section 143(3)

…आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “B” KOLKATA Before Shri N.V.Vasudevan, Judicial Member and Shri Waseem Ahmed, Accountant Member Assessment Year :2012-13 ACIT, LTU-1, V/s. M/s Hindustan Copper 6th Floor, Large Tax Ltd., Tamra Bhawan, Payer Unit, 180, Ashutosh Chowdhury Shantipally, Kolkata-107 Avenue, Kolkata-19 [PAN No.AAACH 7409 R] .. अपीलाथ" /Appellant ""यथ"/Respondent Md. Usman CIT-DR अपीलाथ" क" ओर से/By Appellant Shri Sanjay Bhattacharya, FCA ""यथ" क" ओर से/By Respondent 16-01-2018 सुनवाई क" तार"ख/Date of Hearing 04-04-2018 घोषणा क" तार"ख/Date of…

Icici Securities Ltd, Mumbai vs. DCIT RG 4(1), Mumbai

In the result, the appeal for the AY 2010-11 is partly allowed

ITA 4269/MUM/2013[2009-10]Status: DisposedITAT Mumbai19 Mar 2018AY 2009-10

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2009-10 & Assessment Year: 2010-11 Icici Securities Ltd. Dy. Commissioner Of Icici Centre, H.T. Parekh Income Tax Range Vs. Marg, Churchgate, 4(1), Mumbai-400020. Mumbai. Pan No. Aaaci0996E (Appellant) (Respondent) Assessee By : Mr. Yogesh A. Thar, Ar Revenue By : Mr. M.C. Omi Ningshen, Dr

For Appellant: Mr. Yogesh A. Thar, ARFor Respondent: Mr. M.C. Omi Ningshen, DR
Section 143(3)Section 40Section 40a

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI C.N. PRASAD (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2009-10 & Assessment Year: 2010-11 ICICI Securities Ltd. Dy. Commissioner of ICICI Centre, H.T. Parekh Income Tax Range Vs. Marg, Churchgate, 4(1), Mumbai-400020. Mumbai. PAN No. AAACI0996E (Appellant) (Respondent) Assessee by : Mr. Yogesh A. Thar, AR Revenue by : Mr. M.C. Omi Ningshen, DR Date of Hearing : 02/02/2018 Date of pronouncement: 19/03/2018 ORDER PER N.K. PRADHAN, AM The captioned appeals filed by the assessee are directed against the orde…

DCIT Cir. 7(3)(2), Mumbai vs. People Interactive (I) Pvt. Ltd., Mumbai

ITA 5132/MUM/2016[2010-11]Status: DisposedITAT Mumbai21 Feb 2018AY 2010-11

Bench: Sh. R. C. Sharma, Am & Sh. Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 5132 & 5133/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2010-11 &2011-12)

For Appellant: Shri M. C. OmiFor Respondent: ShriR. S. Samria, AR
Section 143(1)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SH. R. C. SHARMA, AM & SH. SANDEEP GOSAIN, JM आयकरअपीलसं./ I.T.A. No. 5132 & 5133/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2010-11 &2011-12) People Interactive (I) Pvt. DCIT Cir -7 (3) (2) Room No. 669A, 6th Ltd. बिधम/ 205, Shiv E Numh, 2nd Floor, AayakarBhavan, M. Vs. Floor, Dr. Annie Besant k. road, Mumbai-400020 Road, Worli, Mumbai-400018. स्थायीलेखासं./जीआइआरसं./ PAN No. AAECS7931B (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Shri M. C. Omi Ningshen, DR प्रत्यथीकीओरसे/Respondentby : ShriR. S. Samria, AR सुनवाईकीतारी…

ACIT, Circle-2(2), Hyd, Hyderabad vs. Gvk Biosciences Pvt.Ltd., Hyderabad

In the result, Revenue appeals in AY 2010-11,2011-12 are dismissed and all the other appeals are considered partly allowed for statistical purposes

ITA 740/HYD/2015[2011-12]Status: DisposedITAT Hyderabad10 Jan 2018AY 2011-12

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri K. Ashok Kumar, DR
Section 10ASection 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner 705/Hyd/15 2009-10 of Income Tax, Circle-2(2), HYDERABAD Asst. Commissioner 706/Hyd/15 2010-11 GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD HYDERABAD [PAN: AABCG3208J] Deputy Commissioner 707/Hyd/15 2011-12 of Income Tax, Circle-2(2), HYDERABAD 738/Hyd/15 2009-10 Asst. Commissioner GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD 739/Hyd/15 2010-11 HYDERABAD [PAN: AABCG32…

ACIT, Circle-2(2), Hyd, Hyderabad vs. Gvk Biosciences Pvt.Ltd., Hyderabad

In the result, Revenue appeals in AY 2010-11,2011-12 are dismissed and all the other appeals are considered partly allowed for statistical purposes

ITA 739/HYD/2015[2010-11]Status: DisposedITAT Hyderabad10 Jan 2018AY 2010-11

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri K. Ashok Kumar, DR
Section 10ASection 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner 705/Hyd/15 2009-10 of Income Tax, Circle-2(2), HYDERABAD Asst. Commissioner 706/Hyd/15 2010-11 GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD HYDERABAD [PAN: AABCG3208J] Deputy Commissioner 707/Hyd/15 2011-12 of Income Tax, Circle-2(2), HYDERABAD 738/Hyd/15 2009-10 Asst. Commissioner GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD 739/Hyd/15 2010-11 HYDERABAD [PAN: AABCG32…

ACIT, Circle-2(2), Hyd, Hyderabad vs. Gvk Biosciences Pvt.Ltd., Hyderabad

In the result, Revenue appeals in AY 2010-11,2011-12 are dismissed and all the other appeals are considered partly allowed for statistical purposes

ITA 738/HYD/2015[2009-10]Status: DisposedITAT Hyderabad10 Jan 2018AY 2009-10

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri K. Ashok Kumar, DR
Section 10ASection 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner 705/Hyd/15 2009-10 of Income Tax, Circle-2(2), HYDERABAD Asst. Commissioner 706/Hyd/15 2010-11 GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD HYDERABAD [PAN: AABCG3208J] Deputy Commissioner 707/Hyd/15 2011-12 of Income Tax, Circle-2(2), HYDERABAD 738/Hyd/15 2009-10 Asst. Commissioner GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD 739/Hyd/15 2010-11 HYDERABAD [PAN: AABCG32…

Gvk Biosciences Pvt Ltd, Hyderabad vs. DCIT, Circle-2(2), Hyderabad

In the result, Revenue appeals in AY 2010-11,2011-12 are dismissed and all the other appeals are considered partly allowed for statistical purposes

ITA 707/HYD/2015[2011-12]Status: DisposedITAT Hyderabad10 Jan 2018AY 2011-12

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri K. Ashok Kumar, DR
Section 10ASection 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner 705/Hyd/15 2009-10 of Income Tax, Circle-2(2), HYDERABAD Asst. Commissioner 706/Hyd/15 2010-11 GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD HYDERABAD [PAN: AABCG3208J] Deputy Commissioner 707/Hyd/15 2011-12 of Income Tax, Circle-2(2), HYDERABAD 738/Hyd/15 2009-10 Asst. Commissioner GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD 739/Hyd/15 2010-11 HYDERABAD [PAN: AABCG32…

Gvk Biosciences Pvt Ltd, Hyderabad vs. ACIT, Circle-2(2), Hyderabad

In the result, Revenue appeals in AY 2010-11,2011-12 are dismissed and all the other appeals are considered partly allowed for statistical purposes

ITA 706/HYD/2015[2010-11]Status: DisposedITAT Hyderabad10 Jan 2018AY 2010-11

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri K. Ashok Kumar, DR
Section 10ASection 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner 705/Hyd/15 2009-10 of Income Tax, Circle-2(2), HYDERABAD Asst. Commissioner 706/Hyd/15 2010-11 GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD HYDERABAD [PAN: AABCG3208J] Deputy Commissioner 707/Hyd/15 2011-12 of Income Tax, Circle-2(2), HYDERABAD 738/Hyd/15 2009-10 Asst. Commissioner GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD 739/Hyd/15 2010-11 HYDERABAD [PAN: AABCG32…

Gvk Biosciences Pvt Ltd, Hyderabad vs. DCIT, Circle-2(2), Hyderabad

In the result, Revenue appeals in AY 2010-11,2011-12 are dismissed and all the other appeals are considered partly allowed for statistical purposes

ITA 705/HYD/2015[2009-10]Status: DisposedITAT Hyderabad10 Jan 2018AY 2009-10

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri K. Ashok Kumar, DR
Section 10ASection 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner 705/Hyd/15 2009-10 of Income Tax, Circle-2(2), HYDERABAD Asst. Commissioner 706/Hyd/15 2010-11 GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD HYDERABAD [PAN: AABCG3208J] Deputy Commissioner 707/Hyd/15 2011-12 of Income Tax, Circle-2(2), HYDERABAD 738/Hyd/15 2009-10 Asst. Commissioner GVK Biosciences Pvt. of Income Tax, Ltd., Circle-2(2), HYDERABAD 739/Hyd/15 2010-11 HYDERABAD [PAN: AABCG32…

ACIT, New Delhi vs. M/S Educomp Solutions Ltd, Gurgaon

In the result, ITA No. 568/Del/2015 is dismissed and ITA

ITA 572/DEL/2015[2012-13]Status: DisposedITAT Delhi09 Nov 2017AY 2012-13

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 143(3)

…oordinate bench of this Tribunal by order dated 26.09.2014 set aside the matter to the file of the AO for verification of quantum of deduction claimed by the assessee in the light of the decisions of the Spl. Bench in the case of Biocon Ltd. vs. DCIT (2013) 144 ITD 21, the Ld. CIT (A) should have followed the same in respect of all these years also. 4. Per contra, it is the submission of the Ld. AR that the Ld. CIT (A) as a matter of fact set aside the matter in respect of the AY 2008-09 for verification at the end of the AO and to re- compute the income starting from the income originally assessed u/s 143(3…

ACIT, New Delhi vs. M/S Educomp Solutions Ltd, Gurgaon

In the result, ITA No. 568/Del/2015 is dismissed and ITA

ITA 571/DEL/2015[2011-12]Status: DisposedITAT Delhi09 Nov 2017AY 2011-12

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 143(3)

…oordinate bench of this Tribunal by order dated 26.09.2014 set aside the matter to the file of the AO for verification of quantum of deduction claimed by the assessee in the light of the decisions of the Spl. Bench in the case of Biocon Ltd. vs. DCIT (2013) 144 ITD 21, the Ld. CIT (A) should have followed the same in respect of all these years also. 4. Per contra, it is the submission of the Ld. AR that the Ld. CIT (A) as a matter of fact set aside the matter in respect of the AY 2008-09 for verification at the end of the AO and to re- compute the income starting from the income originally assessed u/s 143(3…

ACIT, New Delhi vs. M/S Educomp Solutions Ltd, Gurgaon

In the result, ITA No. 568/Del/2015 is dismissed and ITA

ITA 570/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Nov 2017AY 2010-11

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 143(3)

…oordinate bench of this Tribunal by order dated 26.09.2014 set aside the matter to the file of the AO for verification of quantum of deduction claimed by the assessee in the light of the decisions of the Spl. Bench in the case of Biocon Ltd. vs. DCIT (2013) 144 ITD 21, the Ld. CIT (A) should have followed the same in respect of all these years also. 4. Per contra, it is the submission of the Ld. AR that the Ld. CIT (A) as a matter of fact set aside the matter in respect of the AY 2008-09 for verification at the end of the AO and to re- compute the income starting from the income originally assessed u/s 143(3…

ACIT, New Delhi vs. M/S Educomp Solutions Ltd, Gurgaon

In the result, ITA No. 568/Del/2015 is dismissed and ITA

ITA 569/DEL/2015[2009-10]Status: DisposedITAT Delhi09 Nov 2017AY 2009-10

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 143(3)

…oordinate bench of this Tribunal by order dated 26.09.2014 set aside the matter to the file of the AO for verification of quantum of deduction claimed by the assessee in the light of the decisions of the Spl. Bench in the case of Biocon Ltd. vs. DCIT (2013) 144 ITD 21, the Ld. CIT (A) should have followed the same in respect of all these years also. 4. Per contra, it is the submission of the Ld. AR that the Ld. CIT (A) as a matter of fact set aside the matter in respect of the AY 2008-09 for verification at the end of the AO and to re- compute the income starting from the income originally assessed u/s 143(3…

ACIT, New Delhi vs. M/S Educomp Solutions Ltd, Gurgaon

In the result, ITA No. 568/Del/2015 is dismissed and ITA

ITA 568/DEL/2015[2008-09]Status: DisposedITAT Delhi09 Nov 2017AY 2008-09

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 143(3)

…oordinate bench of this Tribunal by order dated 26.09.2014 set aside the matter to the file of the AO for verification of quantum of deduction claimed by the assessee in the light of the decisions of the Spl. Bench in the case of Biocon Ltd. vs. DCIT (2013) 144 ITD 21, the Ld. CIT (A) should have followed the same in respect of all these years also. 4. Per contra, it is the submission of the Ld. AR that the Ld. CIT (A) as a matter of fact set aside the matter in respect of the AY 2008-09 for verification at the end of the AO and to re- compute the income starting from the income originally assessed u/s 143(3…

DCIT, New Delhi vs. M/S. Pvr Ltd., New Delhi

In the result, the appeal filed by the department is

ITA 1577/DEL/2014[2006-07]Status: DisposedITAT Delhi01 Nov 2017AY 2006-07

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishiassessment Year : 2006-07 Dcit, Vs Ms/ Pvr Ltd., Circle 14(1), 61, Basant Lok, Vasant Vihar, New Delhi. New Delhi-110057 (Pan No. Aaacp4526D) (Appellant) (Respondent) Appellant By : Shri Atiq Ahmad, Sr. Dr Respondent By : Shri V.K. Garg, Advocate

For Appellant: Shri Atiq Ahmad, Sr. DRFor Respondent: Shri V.K. Garg, Advocate
Section 143(3)Section 14ASection 271Section 271(1)(c)

…e issue of disallowance on ESOP, the Ld. CIT(A) noted that although the addition had been confirmed by the ITAT in assessee’s own case, the ITAT Bangalore Special Bench had deleted a similar disallowance in the case of Biocon Ltd. Vs DCIT reported in (2013) 35 Taxmann.com 335. The Ld. CIT (A) also noted that the assessee had furnished all particulars during the course of assessment proceedings and that the Assessing Officer had nowhere stated that the particulars furnished were incorrect or inaccurate. The Ld. CIT (A) also noted that since two different Benches of the ITAT had held two different views on the 3…

DCIT, New Delhi vs. M/S. Avantha Power & Infrastructure Ltd., New Delhi

In the result ground No. 1 of the appeal of the Revenue is dismissed

ITA 4194/DEL/2014[2010-11]Status: DisposedITAT Delhi31 Oct 2017AY 2010-11

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishidcit, Vs. Avantha Power & Infrastructure Circle-2(1), Ltd, New Delhi Thapar House, 124, Janpath, New Delhi Pan:Aaccb7469B (Appellant) (Respondent)

For Appellant: Shri RC Pandey, Sr. DRFor Respondent: Ms. Reena Lamba, CA
Section 143(3)Section 2Section 32Section 43(1)

…he Revenue is covered against revenue by the order of Hon'ble High Court. Regarding the disallowance of ESoP expenditure it was stated that issue is squarely covered in favour of the assessee by the decision of the special bench of ITAT in Biocon Ltd Vs. DCIT 35 Taxmann.com 335. 5. We have carefully considered the rival contentions and also perused the orders of the lower authorities. The ground No. 1 of the appeal is against the disallowance of depreciation of Rs. 11.47 crores. The brief facts of the case are that pursuant to the scheme of demerger the assessee acquired power division from another company. The a…

Axis Bank Ltd., Ahmedabad vs. The Addl.CIT, Range-I, Ahmedabad

ITA 2196/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad13 Oct 2017AY 2009-10
For Appellant: Shri Arvind Sonde with Shri Gautam Shah, A.RFor Respondent: Shri D. P. Gupta, CIT D.R. with Shri K. Madhusudan, Sr. D.R
Section 14Section 143(3)Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH AHMEDABAD BEFORE, SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI S. S. GODARA, JUDICIAL MEMBER ITA Nos. 2196 & 2395/Ahd/2014 (Assessment Year: 2009-10) Axis Bank Limited, “Trishul”, Opp. Samtheshwar Mahadev, Near Law Garden, Ellis Bridge, Ahmedabad - 380006 Appellant Vs. Additional Commissioner of Income tax, Range-1/ Circle-1, Ahmedabad Respondent / Cross Appellant PAN: AAACU2414K आवेदक क" ओर से/By Assessee : Shri Arvind Sonde with Shri Gautam Shah, A.R. राज"व क" ओर से/By Revenue : Shri D. P. Gupta, CIT D.R. with Shri K. Madhusudan, Sr. D.R. सुन…

M/S. Religare Securities Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by the assessee is allowed

ITA 4644/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Oct 2017AY 2010-11

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishim/S. Religare Securities Ltd, Vs. Dcit, D3, P3B, District Centre, Saket, Circle-21(1), New Delhi-110017 Cr Building, New Delhi Pan:Aaacf1952D (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Atiq Ahmad, Sr. DR
Section 143Section 143(3)Section 251Section 28Section 37(1)

…-21(1) New Delhi AY 2010-11 commodities Ltd for assessment year 2008 – 09 identical issue arose before the coordinate bench, which decided this issue in ITA No. 2283/Del/2013 by order dated 04/01/2017 wherein relying upon the decision of the special bench in 144 ITD 21 claim of the assessee with respect to the above disallowance were allowed vide para No. 7 of that order. The coordinate bench in para No. 8 also held that the issue is also squarely covered by the decision of the Hon‟ble Madras High Court in 211 Taxman 554 wherein it has been held that the above expenditure on account of employee stock option sche…

M/S. Religare Macquarie Wealth Management Ltd., New Delhi vs. ACIT, New Delhi

In the result ground No. 5 of the appeal of the assessee is allowed

ITA 2396/DEL/2013[2008-09]Status: DisposedITAT Delhi09 Oct 2017AY 2008-09

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishim/S. Religare Macquarie Wealth Vs. Acit, Management Ltd, Circle-15(1), D-3, P-3B, District Centre, New Delhi Saket, New Delhi Pan:Aadcr5677C (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Atiq Ahmad, Sr. DR
Section 14ASection 28Section 36Section 37(1)

…Religare Macquarie wealth management Ltd versus ACIT, circle – 15 (1), New Delhi ITA number 2396/Del/2013 Assessment year 2008 – 09 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER M/s. Religare Macquarie Wealth Vs. ACIT, Management Ltd, Circle-15(1), D-3, P-3B, District Centre, New Delhi Saket, New Delhi PAN:AADCR5677C (Appellant) (Respondent) Assessee by : Shri Ajay Vohra, Sr. Adv Shri Gaurav Jain, Adv Ms. Tejasvi Jain, CA Revenue by: Shri Atiq Ahmad, Sr. DR Date of Hearing 03/08/2017 Date of pronouncement…

Fractal Analytics P.Ltd, Mumbai vs. Asst CIT Cir 9(3)(2), Mumbai

In the result, this appeal filed by the assessee stands partly allowed

ITA 1024/MUM/2017[2012-13]Status: DisposedITAT Mumbai21 Sept 2017AY 2012-13

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

For Appellant: Shri Ajit Kumar JainFor Respondent: Shri Jayant Kumar
Section 144C(5)Section 234BSection 37(1)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ ‘K’, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “K”, MUMBAI Before Shri Shamim Yahya, AM & Shri Ram Lal Negi, JM ITA No.1024/Mum/2017 : Asst.Year 2012-2013 M/s.Fractal Analytics Private Limited Asst.Commissioner of Income-tax बनाम/ Level 7, Silver Metropolis Circle 9(3)(2) Western Express Highway Mumbai. Vs. Goregaon (East), Mumbai – 400 063. PAN : AAACF4502D. (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से /Appellant by : Shri Ajit Kumar Jain ""यथ" क" ओर से /Respondent by : Shri Jayant Kumar सुनवाई क" तार"ख / घोषणा क" तार"ख / Date of Hearing : 25.07.201…