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 366,339 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

Indiabullas Housing Finance Limited, Mumbai vs. DCIT, Central Circle-6(4), Mumbai

ITA 821/MUM/2023[2018-2019]Status: DisposedITAT Mumbai18 Dec 2023AY 2018-2019
For Appellant: Shri K. Gopal &For Respondent: Shri Rakesh Garg
Section 143(1)Section 143(3)Section 14ASection 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL "C" BENCH, MUMBAI SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA No. 822/MUM/2023 (Assessment Year: 2018-19) (Assessment Year: 2019-20) Indiabulls Housing Finance Limited, 5th Floor, Building No. 27, K G Marg, Connaught Place, New Delhi - 110001 [PAN: AABCI3612A] …………… Appellant Deputy Commissioner of Income Tax, Circle 6(4), Mumbai, Vs Room No. 1925, 19th Floor, Air India Building, Nariman Point, Mumbai - 400021 ……………. Respondent & ITA No. 1033/MUM/2023 (Assessment Year: 2018-19) (Assessment Year: 2019-20) Deputy Commissioner of Income Tax…

DCIT, Central Circle-18, Delhi vs. Ms Delhivery Pvt. Ltd., Delhi

In the result, the appeal filed by the revenue is dismissed

ITA 2176/DEL/2023[2018-19]Status: DisposedITAT Delhi06 Dec 2023AY 2018-19

Bench: Sh. N. K. Billaiya & Ms. Astha Chandraassessment Year: 2018-19 Dcit Vs. Ms Delhivery Pvt. Ltd. Central Circle – 18 N-24-N34, S-24-S-34, Air Delhi Cargo Logistics Centre-Ii, Opposite Gate 6 Cargo Terminal Igi Airport, South West, New Delhi-110037 Pan No.Aapcs9575E (Appellant) (Respondent) Appellant By Sh. T. James Singson, Cit Dr Respondent By Sh. K. M. Gupta, Advocate Date Of Hearing: 06/12/2023 Date Of Pronouncement: 06/12/2023 Order Per N. K. Billaiya, Am: This Appeal By The Revenue Is Preferred Against The Order Of The Cit(A)-27, New Delhi Dated 08.05.2023 Pertaining To A.Y.2018-19. 2. The Revenue Has Raised The Following Grounds :- 1. Whether On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Is Right In Not Sustaining The Disallowance Of Deduction Claimed On Account Of Employee

Section 37(1)Section 56(2)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Assessment Year: 2018-19 DCIT Vs. Ms Delhivery Pvt. Ltd. Central Circle – 18 N-24-N34, S-24-S-34, Air Delhi Cargo Logistics Centre-II, Opposite Gate 6 Cargo Terminal IGI Airport, South West, New Delhi-110037 PAN No.AAPCS9575E (APPELLANT) (RESPONDENT) Appellant by Sh. T. James Singson, CIT DR Respondent by Sh. K. M. Gupta, Advocate Date of hearing: 06/12/2023 Date of Pronouncement: 06/12/2023 ORDER PER N. K. BILLAIYA, AM: This appeal by the revenue is preferred aga…

ACIT(CC)-6(4), Mumbai vs. Indiabulls Housing Finance Limited, New Delhi

In the result, the appeal of the revenue stands dismissed

ITA 2683/MUM/2023[2020-21]Status: DisposedITAT Mumbai29 Nov 2023AY 2020-21

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.2683/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2020-21) Acit(Cc)-6(4) बिधम/ Indiabulls Housing Room No. 1925, 19Th Floor, Finance Ltd Vs. Air India Building, Nariman M-62 & 63 1St Floor, Point, Mumbai-400021. Connaught Place, New Delhi-110001. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabci3612A (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri K. Gopal Revenue By: Shri Hemankumar Chimanlal Leuva (Cit-Dr) सुनवाई की तारीख / Date Of Hearing: 13/11/2023 घोषणा की तारीख /Date Of Pronouncement: 29/11/2023 आदेश / O R D E R Per Aby T. Varkey, Jm:

For Appellant: Shri K. GopalFor Respondent: Shri Hemankumar Chimanlal Leuva
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI AMARJIT SINGH, AM आयकर अपील सं/ I.T.A. No.2683/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2020-21) ACIT(CC)-6(4) बिधम/ Indiabulls Housing Room No. 1925, 19th Floor, Finance Ltd Vs. Air India Building, Nariman M-62 & 63 1st Floor, Point, Mumbai-400021. Connaught Place, New Delhi-110001. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AABCI3612A (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri K. Gopal Revenue by: Shri Hemankumar Chimanlal Leuva (CIT-DR) सुनवाई की तारीख / Date of Hearing: 13/11/2023 घोषणा…

Thomas Cook (India) Ltd., Mumbai vs. Addl/ Jt/ Dy/CIT/Asstt/ITO, National E-Assessment Centre, Delhi

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

ITA 1218/MUM/2021[2016-17]Status: DisposedITAT Mumbai24 Nov 2023AY 2016-17

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

Section 92CSection 92C(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND MS. KAVITHA RAJAGOPAL, HON'BLE JUDICIAL MEMBER ITA NO. 752/MUM/2022 (A.Y. 2017-18) Thomas Cook (India) Limited v. Additional/Joint/Dy. /Asst., CIT National e-Assessment Centre Thomas Cook Building Delhi Dr. D.N. Road, Fort Mumbai - 400001 PAN: AAACT4050C (Appellant) (Respondent) Assessee Represented by : Shri J.D. Mistry Shri Madhur Agrawal & Shri Fenil Bhat Department Represented by : Shri K.C. Selvamani Date of Conclusion of Hearing : 26 & 27.09.2023 Date of Pronouncement : 24.11.2023 O R…

Bayer Cropscience Ltd (Sucessor to Monsanto India Limited Mil), Mumbai vs. DCIT RG- 10(2)(2), Mumbai

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

ITA 2302/MUM/2018[2012-13]Status: DisposedITAT Mumbai10 Nov 2023AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Nitesh JoshiFor Respondent: Ms. Riddhi Mishra
Section 10(1)Section 115JSection 142(1)Section 143(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3763/Mum./2015 (Assessment Year : 2009–10) Bayer Crop Science Ltd. (Successor to Monsanto India Ltd.) Ahura Centre, 5th Floor ……………. Appellant 96, Mahakali Caves Road Andheri (East), Mumbai 400 093 PAN – AAACM2875L v/s Dy. Commissioner of Income Tax ……………. Respondent Range–10(2)(2), Mumbai ITA no.2124/Mum./2018 (Assessment Year : 2012–13) Dy. Commissioner of Income Tax ……………. Appellant Range–10(2)(2), Mumbai v/s M/s. Monsanto India Ltd. Ahura Centre, 5th Fl…

JCIT (OSD)- 10(2)(2), Mumbai vs. Bayer Cropscience Ltd (Sucessor to Monsanto India Limited, Mumbai

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

ITA 2124/MUM/2018[2012-13]Status: DisposedITAT Mumbai10 Nov 2023AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Nitesh JoshiFor Respondent: Ms. Riddhi Mishra
Section 10(1)Section 115JSection 142(1)Section 143(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3763/Mum./2015 (Assessment Year : 2009–10) Bayer Crop Science Ltd. (Successor to Monsanto India Ltd.) Ahura Centre, 5th Floor ……………. Appellant 96, Mahakali Caves Road Andheri (East), Mumbai 400 093 PAN – AAACM2875L v/s Dy. Commissioner of Income Tax ……………. Respondent Range–10(2)(2), Mumbai ITA no.2124/Mum./2018 (Assessment Year : 2012–13) Dy. Commissioner of Income Tax ……………. Appellant Range–10(2)(2), Mumbai v/s M/s. Monsanto India Ltd. Ahura Centre, 5th Fl…

Bayer Cropscience Ltd (Sucessor to Monsanto India Limited Mil), Mumbai vs. DCIT RG- 10(2)(2), Mumbai

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

ITA 3763/MUM/2015[2009-10]Status: DisposedITAT Mumbai10 Nov 2023AY 2009-10

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Nitesh JoshiFor Respondent: Ms. Riddhi Mishra
Section 10(1)Section 115JSection 142(1)Section 143(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3763/Mum./2015 (Assessment Year : 2009–10) Bayer Crop Science Ltd. (Successor to Monsanto India Ltd.) Ahura Centre, 5th Floor ……………. Appellant 96, Mahakali Caves Road Andheri (East), Mumbai 400 093 PAN – AAACM2875L v/s Dy. Commissioner of Income Tax ……………. Respondent Range–10(2)(2), Mumbai ITA no.2124/Mum./2018 (Assessment Year : 2012–13) Dy. Commissioner of Income Tax ……………. Appellant Range–10(2)(2), Mumbai v/s M/s. Monsanto India Ltd. Ahura Centre, 5th Fl…

Concentrix Services India Private Limited (Formerly Known As Minacs Private Limited, Minacs Limited & Adity Birla Minacs Worldwide Limited ), Mumbai vs. Joint Commissioner of It (OSD)10(2)(2)Assistant Commissioner of Income Tax-9(2)(2), Mumbai

ITA 5764/MUM/2017[2012-13]Status: DisposedITAT Mumbai18 Oct 2023AY 2012-13
For Appellant: Shri Yogesh TharFor Respondent: Shri Ajit Pal Singh Daia
Section 143(3)Section 144C(3)Section 92(1)Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA No. 5260/MUM/2017 ITA No. 5764/MUM/2017 (Assessment Year: 2011-12) (Assessment Year: 2012-13) Concentrix Services India Private Limited, [Formerly known as Minacs Private Limited, Minacs Limited & Aditya Birla Minacs Wordlwide Limited] 8th Floor, Symphony IT Park, Chandivali Farm Road, Andheri (East), Mumbai - 400072 …………… Appellant [PAN: AAACT1567A] Vs Deputy Commissioner of Income Tax, 10(2)(2), Mumbai, C-10, 7th Floor, Pratyakshakar Bhavan, Bandra Kurla Complex, Bandra (East…

Concentrix Services India Private Limited (Formerly Known As Minacs Private Limited, Minacs Limited & Adity Birla Minacs Worldwide Limited ), Mumbai vs. Deputy Commissioner of Income Tax-10(2)(2), Mumbai

ITA 5260/MUM/2017[2011-12]Status: DisposedITAT Mumbai18 Oct 2023AY 2011-12
For Appellant: Shri Yogesh TharFor Respondent: Shri Ajit Pal Singh Daia
Section 143(3)Section 144C(3)Section 92(1)Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA No. 5260/MUM/2017 ITA No. 5764/MUM/2017 (Assessment Year: 2011-12) (Assessment Year: 2012-13) Concentrix Services India Private Limited, [Formerly known as Minacs Private Limited, Minacs Limited & Aditya Birla Minacs Wordlwide Limited] 8th Floor, Symphony IT Park, Chandivali Farm Road, Andheri (East), Mumbai - 400072 …………… Appellant [PAN: AAACT1567A] Vs Deputy Commissioner of Income Tax, 10(2)(2), Mumbai, C-10, 7th Floor, Pratyakshakar Bhavan, Bandra Kurla Complex, Bandra (East…

Jt.CIT (OSD), Central Circle-18, New Delhi vs. Delhivery P.Ltd, New Delhi

In the result, ITA No.1734/Del/2023 is partly allowed and ITA

ITA 1735/DEL/2023[2017-18]Status: DisposedITAT Delhi16 Oct 2023AY 2017-18

Bench: Sh. N. K. Billaiya & Sh. C.N. Prasad

Section 263Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. C.N. PRASAD, JUDICIAL MEMBER ITA No.1734& 1735/Del/2023 Assessment Year: 2015-16 & 2017-18 Jt. CIT (OSD) Central Circle – Delhivery P. Ltd. N-24-N34, Air Cargo, 18 New Delhi Vs Logistics Centre-II, Opposite, Gte 6 Crgo, Terminal IGI, Airport, South West, New Delhi-110037 PAN No. AAPCS9575E (APPELLANT) (RESPONDENT) Appellant Sh.Vivek Kumar Upadhyay, Sr DR Respondent Sh. K. M. Gupta, Advocate Sh. Ashish Garg, Advocate Date of Hearing 16.10.2023 Date of Pronouncement 16.10.2023 ORDER PER N. K.…

Jt.CIT (OSD), Central Circle-18, New Delhi vs. Delhivery P.Ltd, New Delhi

In the result, ITA No.1734/Del/2023 is partly allowed and ITA

ITA 1734/DEL/2023[2015-16]Status: DisposedITAT Delhi16 Oct 2023AY 2015-16

Bench: Sh. N. K. Billaiya & Sh. C.N. Prasad

Section 263Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. C.N. PRASAD, JUDICIAL MEMBER ITA No.1734& 1735/Del/2023 Assessment Year: 2015-16 & 2017-18 Jt. CIT (OSD) Central Circle – Delhivery P. Ltd. N-24-N34, Air Cargo, 18 New Delhi Vs Logistics Centre-II, Opposite, Gte 6 Crgo, Terminal IGI, Airport, South West, New Delhi-110037 PAN No. AAPCS9575E (APPELLANT) (RESPONDENT) Appellant Sh.Vivek Kumar Upadhyay, Sr DR Respondent Sh. K. M. Gupta, Advocate Sh. Ashish Garg, Advocate Date of Hearing 16.10.2023 Date of Pronouncement 16.10.2023 ORDER PER N. K.…

The Dy. Commissioner of Income Tax, Central Circle-6(4), Mumbai vs. Dhani Services Limited, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 1554/MUM/2023[2018-2019]Status: DisposedITAT Mumbai11 Oct 2023AY 2018-2019

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm) I.T.A. No. 1554/Mum/2023 (A.Y. 2018-19)

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘D’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Shri Narender Kumar Choudhry (JM) I.T.A. No. 1554/Mum/2023 (A.Y. 2018-19) Dy. Commissioner of Income Vs. Dhani Services Ltd. Tax, Central Circle-6(4), M-62 & 63, 1st Floor, Mumbai. Connaught Place, New Delhi 110 001. PAN : AAACO0870B (Appellant) (Respondent) Assessee by Shri K. Gopal Department by Smt. Sanyogita Nagpal Date of Hearing 11.10.2023 Date of Pronouncement 11.10.2023 O R D E R Per B.R.Baskaran (AM) :- The Revenue has filed this appeal challenging the order dated 02.02.2023 passed by the learned Commis…

Jubilant Foodworks Ltd., Noida vs. DCIT, Circle-1, Noida

In the result, appeal is partly allowed

ITA 7937/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Oct 2023AY 2014-15

Bench: Shri Saktijit Dey, Vice- & Shri M. Balaganeshassessment Year: 2014-15 Jubilant Foodworks Ltd., Versus Dcit, Circle-1, Plot No. 1A, Sector-16A, Noida. Noida. Pan: Aabcd1821C (Appellant) (Respondent) Assessee By : Sh. Ajay Vohra, Sr. Advocate Sh. K.M. Gupta, Advocate Sh. Shruti Khimta, A.R. Revenue By : Sh. Rajesh Kumar, Cit-Dr

For Appellant: Sh. Ajay Vohra, Sr. AdvocateFor Respondent: Sh. Rajesh Kumar, CIT-DR
Section 143(3)Section 92A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI BEFORE SHRI SAKTIJIT DEY, VICE-PRESIDENT AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2014-15 Jubilant Foodworks Ltd., Versus DCIT, Circle-1, Plot No. 1A, Sector-16A, Noida. Noida. PAN: AABCD1821C (Appellant) (Respondent) Assessee by : Sh. Ajay Vohra, Sr. Advocate Sh. K.M. Gupta, Advocate Sh. Shruti Khimta, A.R. Revenue by : Sh. Rajesh Kumar, CIT-DR Date of hearing : 11.07.2023 Date of pronouncement: 06.10.2023 ORDER Captioned appeal by the assessee arises out of the final assessment order dated 10.10.2018 passed under section 143(3)/…

Dy. Commissioner of Income Tax, Circle-7(1)(1), Mumbai vs. M/S Motilal Oswal Financial Services Ltd, Mumbai

In the result, we do not find any merit in this appeal, the same fails and is hereby dismissed

ITA 1794/MUM/2023[2016-2017]Status: DisposedITAT Mumbai13 Sept 2023AY 2016-2017

Bench: Shri Kuldip Singh & Shri S Rifaur Rahmanassessment Year: 2016-17

For Appellant: Shri. Vijay Mehta, A.RFor Respondent: Shri. Jasbir S. Chouhan (CIT DR)
Section 143(3)Section 37(1)Section 45

…the co-ordinate Bench of the Tribunal in assessee’s own case for A.Y. 2017-18 & 2018-19 vide order dated 18.08.2023 passed in ITA No.1795 & 1796/M/2023 by following the decision rendered by Special Bench of the Tribunal in case of Biocon Ltd. vs. DCIT (2013) 144 ITD 21 (Bangalore-Trib.) (SB) confirmed by Hon’ble Karnataka High Court cited as (2020) 121 taxmann.com 351 (Karn.). 8. The Ld. D.R. for the Revenue has not brought on record any decision of the higher forum so as to distinguish the order passed in Biocon Ltd. (supra). 4 M/s. Motilal Oswal Financial Services Ltd. 9. We have perused the order passed by…

DCIT-7(1)(1), Mumbai vs. M/S Motilal Oswal Securities Ltd (Now Merged With Motilal Oswal Financial Services Ltd), Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 1796/MUM/2023[2018-19]Status: DisposedITAT Mumbai18 Aug 2023AY 2018-19

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: Shri Vijay MehtaFor Respondent: Smt. Mahita Nair
Section 135Section 143(3)Section 250Section 37(1)Section 45Section 80G

…ntions of the Revenue were rejected by the Hon’ble Karnataka High Court in Biocon Ltd (supra), wherein the Hon’ble High Court dismissed the appeal filed by the Revenue and upheld the decision of the Special Bench of the Tribunal in Biocon Ltd v/s DCIT, [2013] 144 ITD 21 (Bangalore-Trib.) (SB). The relevant findings of the Hon’ble High Court, in the aforesaid decision, are reproduced as under:- “6. We have considered the submissions made by learned counsel for the parties and have perused the record. The singular issue, which arises for consideration in this appeal is whether the tribunal is correct in holding th…

DCIT-7(1)(1), Mumbai vs. M/S Motilal Oswal Securities Ltd (Now Merged With Motilal Oswal Financial Services Ltd), Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 1795/MUM/2023[2017-18]Status: DisposedITAT Mumbai18 Aug 2023AY 2017-18

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: Shri Vijay MehtaFor Respondent: Smt. Mahita Nair
Section 135Section 143(3)Section 250Section 37(1)Section 45Section 80G

…ntions of the Revenue were rejected by the Hon’ble Karnataka High Court in Biocon Ltd (supra), wherein the Hon’ble High Court dismissed the appeal filed by the Revenue and upheld the decision of the Special Bench of the Tribunal in Biocon Ltd v/s DCIT, [2013] 144 ITD 21 (Bangalore-Trib.) (SB). The relevant findings of the Hon’ble High Court, in the aforesaid decision, are reproduced as under:- “6. We have considered the submissions made by learned counsel for the parties and have perused the record. The singular issue, which arises for consideration in this appeal is whether the tribunal is correct in holding th…

Leariningmate Solutions Private Limited, Mumbai vs. Ld Principle Commissioner of Income Tax-2, Mumbai

ITA 1696/MUM/2023[2018-2019]Status: DisposedITAT Mumbai31 Jul 2023AY 2018-2019
For Appellant: Shri Karthik NatarajanFor Respondent: MS N. V. Nadkarni
Section 143Section 143(1)Section 143(3)Section 263Section 263(1)Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH, MUMBAI SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER LearningMate Solutions Private Limited, Levels 7 to 10, Techno Park, 74/II, “C”, Cross Road, MIDC, Marol Industrial [PAN: AAACL9067F) …………… Appellant Vs Principal Commissioner of Income Tax, Mumbai - 2 Room No. 344, 3rd Floor, Aayakar Bhavan, Maharishi Karve Road, Respondent ……………. Mumbai - 400020 Appearance For the Appellant/Assessee : Shri Karthik Natarajan For the Respondent/Department : MS N. V. Nadkarni Date Conclusion of hearing : 25.07.2023 Pronouncement of order : 31.07.2023…

ACIT Spl. Range-1, New Delhi vs. Ameriprise India Private Ltd., New Delhi

In the result, both appeals of the Revenue are dismissed

ITA 2928/DEL/2019[2014-15]Status: DisposedITAT Delhi14 Jul 2023AY 2014-15

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Us

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘A’: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER ITA Nos.2927 & 2928/DEL/2019 [Assessment Years: 2013-14 & 2014-15] Addl. Commissioner of M/s Ameriprise India Pvt. Ltd. Income tax, 50/9, 1st Floor, Special Range-1, Vs Tolstoy Lane Janpath, Room No.159A, 1st Floor, New Delhi-110001 C.R. Building, New Delhi-110002 PAN-AAFCA3489B Revenue Assessee Revenue by Sh. Kanv Bali, Sr. DR Assessee by Sh. Nikhil Agarwal, Adv. Date of Hearing 11.07.2023 Date of Pronouncement 14.07.2023 ORDER PER SHAMIM YAHYA, AM, These…

ACIT Spl. Range-1, New Delhi vs. Ameriprise India Private Ltd., New Delhi

In the result, both appeals of the Revenue are dismissed

ITA 2927/DEL/2019[2013-14]Status: DisposedITAT Delhi14 Jul 2023AY 2013-14

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Us

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘A’: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER ITA Nos.2927 & 2928/DEL/2019 [Assessment Years: 2013-14 & 2014-15] Addl. Commissioner of M/s Ameriprise India Pvt. Ltd. Income tax, 50/9, 1st Floor, Special Range-1, Vs Tolstoy Lane Janpath, Room No.159A, 1st Floor, New Delhi-110001 C.R. Building, New Delhi-110002 PAN-AAFCA3489B Revenue Assessee Revenue by Sh. Kanv Bali, Sr. DR Assessee by Sh. Nikhil Agarwal, Adv. Date of Hearing 11.07.2023 Date of Pronouncement 14.07.2023 ORDER PER SHAMIM YAHYA, AM, These…

Asst CIT Cir 2(2)(1), Mumbai vs. State Bank of India, Mumbai

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

ITA 4564/MUM/2016[2009-10]Status: DisposedITAT Mumbai06 Jun 2023AY 2009-10

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: S/Shri P.J. Pardiwala a/w Ninad PatadeFor Respondent: Ms. Surabhi Sharma
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…lity in addition to being contingent, is related to an increase in share capital. Accordingly, the AO disallowed the claim made by the assessee. The learned CIT(A), vide impugned order, following the decision of Special Bench of Tribunal in Biocon Ltd v/s CIT 35 Taxmann.com 335 allowed the claim of provision of State Bank of India ITA no.3645/Mum./2016 ITA no.4564/Mum./2016 Employee Stock Purchase Scheme. Being aggrieved, the Revenue is in appeal before us. 109. Having considered the submissions of both parties and perused the material available on record, we find that the coordinate bench of the Tribunal in as…