CIT v. Biocon Ltd.

ASSISTANT COMMISSIONER OF INCOME TAX-15(3)(1), MUMBAI, MUMBAI vs. M/S THYROCARE TECHNOLOGIES LIMITED, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018–

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhailita No. 7292/Mum/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) Ita No. 6721/Mum/2025 Ita No. 7293/Mum/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner Of Income Tax – 15(3)(1), Room No.460, 4Th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 Pan : Aabct2577P V/S Thyrocare Technologies Limited, ……………… Respondent D/37, 1 Ttc Industrial Area, Midc, Turbhe, Navi Mumbai - 400703

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No. 7292/MUM/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) ITA No. 6721/MUM/2025 ITA No. 7293/MUM/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner of Income Tax – 15(3)(1), Room No.460, 4th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 PAN : AABCT2577P v/s Thyrocare Technologies Limited, ……………… Respondent D/37, 1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai - 400703 Assessee by : Shri M.…

ASSISTANT COMMISSIONER OF INCOME TAX-15(3)(1), MUMBAI, MUMBAI vs. M/S THYROCARE TECHNOLOGIES LIMITED, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018–

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhailita No. 7292/Mum/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) Ita No. 6721/Mum/2025 Ita No. 7293/Mum/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner Of Income Tax – 15(3)(1), Room No.460, 4Th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 Pan : Aabct2577P V/S Thyrocare Technologies Limited, ……………… Respondent D/37, 1 Ttc Industrial Area, Midc, Turbhe, Navi Mumbai - 400703

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No. 7292/MUM/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) ITA No. 6721/MUM/2025 ITA No. 7293/MUM/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner of Income Tax – 15(3)(1), Room No.460, 4th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 PAN : AABCT2577P v/s Thyrocare Technologies Limited, ……………… Respondent D/37, 1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai - 400703 Assessee by : Shri M.…

ACIT 15(3)(1), MUMBAI vs. THYROCARE TECHNOLOGIES LIMITED, NAVI MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018–

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhailita No. 7292/Mum/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) Ita No. 6721/Mum/2025 Ita No. 7293/Mum/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner Of Income Tax – 15(3)(1), Room No.460, 4Th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 Pan : Aabct2577P V/S Thyrocare Technologies Limited, ……………… Respondent D/37, 1 Ttc Industrial Area, Midc, Turbhe, Navi Mumbai - 400703

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No. 7292/MUM/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) ITA No. 6721/MUM/2025 ITA No. 7293/MUM/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner of Income Tax – 15(3)(1), Room No.460, 4th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 PAN : AABCT2577P v/s Thyrocare Technologies Limited, ……………… Respondent D/37, 1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai - 400703 Assessee by : Shri M.…

ACIT 15(3)(1), MUMBAI vs. THYROCARE TECHNOLOGIES LIMITED, NAVI MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018–

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhailita No. 7292/Mum/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) Ita No. 6721/Mum/2025 Ita No. 7293/Mum/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner Of Income Tax – 15(3)(1), Room No.460, 4Th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 Pan : Aabct2577P V/S Thyrocare Technologies Limited, ……………… Respondent D/37, 1 Ttc Industrial Area, Midc, Turbhe, Navi Mumbai - 400703

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No. 7292/MUM/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) ITA No. 6721/MUM/2025 ITA No. 7293/MUM/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner of Income Tax – 15(3)(1), Room No.460, 4th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 PAN : AABCT2577P v/s Thyrocare Technologies Limited, ……………… Respondent D/37, 1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai - 400703 Assessee by : Shri M.…

ACIT 15(3)(1), MUMBAI vs. THYROCARE TECHNOLOGIES LIMITED, NAVI MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018–

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhailita No. 7292/Mum/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) Ita No. 6721/Mum/2025 Ita No. 7293/Mum/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner Of Income Tax – 15(3)(1), Room No.460, 4Th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 Pan : Aabct2577P V/S Thyrocare Technologies Limited, ……………… Respondent D/37, 1 Ttc Industrial Area, Midc, Turbhe, Navi Mumbai - 400703

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No. 7292/MUM/2025 (Assessment Year: 2022-23) (Assessment Year: 2021-22) ITA No. 6721/MUM/2025 ITA No. 7293/MUM/2025 (Assessment Year: 2018-19) (Assessment Year: 2023-24) Assistant Commissioner of Income Tax – 15(3)(1), Room No.460, 4th Floor, Aaykar Bhavan, M.K. Road, ............... Appellant Mumbai – 400020 PAN : AABCT2577P v/s Thyrocare Technologies Limited, ……………… Respondent D/37, 1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai - 400703 Assessee by : Shri M.…

ICICI SECURITIES LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, MUMBAI -4, MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

…d submissions and supporting material placed on record. 21. It was further submitted that the allowability of ESOP expenditure under section 37(1) now stands conclusively settled by the judgment of the Hon’ble Karnataka High Court in CIT v. Biocon Ltd. (2021) 430 ITR 151, as well as by the judgments of the Hon’ble Delhi High Court in CIT v. Lemon Tree Hotels Ltd. and CIT v. New Delhi Television Ltd., apart from a series of consistent decisions of various coordinate benches of the Tribunal. 22. On a careful appraisal of the facts and the legal position, it is evident that the assessee had incurred ESOP expenditure…

JCIT CENT. CIR. - 1(4), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

The appeal is allowed

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

…inding is brought on record by the revenue. 31. Ground Nos. 4 & 5 pertain to the allowance of ESOP Expenditure. The ld. DR fairly conceded that the issue is covered by the decision of the Hon'ble Karnataka High Court in the case of CIT Vs. Biocon Ltd. [2021] 430 ITR 151 (Kar.HC). We in this regard notice that the Co-ordinate Bench has been consistently holding the issue in favour of the assessee and the relevant findings for AY 2009-10 (supra) is extracted as under: “38. Having considered rival submissions, we find identical issue came up for consideration in assessee’s case in A.Y. 2008-09. While deciding the…

GRASIM INDUSTRIES LTD,MUMBAI vs. DCIT CENT. CIR. - 1(4), MUMBAI

The appeal is allowed

…nding is brought on record by the revenue.\n31. Ground Nos.4 & 5 pertain to the allowance of ESOP Expenditure. The ld.\nDR fairly conceded that the issue is covered by the decision of the Hon'ble\nKarnataka High Court in the case of CIT Vs. Biocon Ltd. [2021] 430 ITR 151\n(Kar.HC). We in this regard notice that the Co-ordinate Bench has been\nconsistently holding the issue in favour of the assessee and the relevant findings\nfor AY 2009-10 (supra) is extracted as under:\n“38. Having considered rival submissions, we find identical issue came up for\nconsideration in assessee's case in A.Y. 2008-09. While deciding…

NUVAMA WEALTH MANAGEMENT LIMITED,MUMBAI vs. DCIT, PRATISHTHA BHAVAN, MUMBAI

In the result, the appeal of the assessee stands allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘B’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER Nuvama Wealth Vs. DCIT, Pratishtha Management Limited Bhavan, Mumbai 801 to 804 Wing A Building No.3 Inspire BKC, G Block BKC, Bandra East Mumbai – 400 051 PAN/GIR No.AAACK3792N (Appellant) .. (Respondent) Assessee by Shri Madhur Agarwal & Shri Ravikant S Pathak Revenue by Shri Kishor Dhule-CIT DR Date of Hearing 09/10/2025 Date of Pronouncement 31/10/2025 आदेश / O R D E R PER AMIT SHUKLA (J.M): This appeal by the assessee is directed against the revisional order dated 26 Mar…

FAIRBRIDGE CAPITAL PRIVATE LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME-TAX, MUMBAI - 6, MUMBAI, MAHARASHTRA

In the result, appeal of the assessee is allowed

…{ "clean_text": "। आयकर अपीलीय अधिकरण न्यायपीठ, मुंबई ।\nIN THE INCOME TAX APPELLATE TRIBUNAL\n“F” BENCH, MUMBAI\nBEFORE SHRI SAKTIJIT DEY, HON'BLE VICE PRESIDENT\n&\nSHRI NARENDRA KUMAR BILLAIYA, HON'BLE ACCOUNTANT MEMBER\nI.T.A. No. 3626/Mum/2025\n Assessment Year: 2020-21\nPrincipal Commissioner of\nFairbridge Capital Private Limited\nVs\nIncome-tax, Mumbai - 6\nC, 6th Floor, Cnergy\nAppasaheb Marathe Marg\nMaharashtra - 400025\n[PAN: AABCF7607C]\nअपीलार्थी/ (Appellant)\nप्रत्यर्थी / (Respondent)\nAssessee by:\nMs. Chandni Shah a/w Mr. Hardik Nirmal and\nMr. Kinjal Patel, A/Rs\nRevenue by:\nShri Vivek Peramp…

COLGATE PALMOLIVE (INDIA) LIMITED ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX -6, MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2018-19 Colgate Palmolive (India) vs Principal Commissioner of Limited Income Tax-6, Mumbai Colgate Research Centre, Main Street, Hiranandani Stree, Powai, Mumbai- 400076 PAN:AAACC4309B Appellant Respondent Present for: Appellant by : Shri J D Mistry, Sr. Advocate Respondent by : Shri R A Dhyani, CIT DR Date of Hearing : 06.08.2025 Date of Pronouncement : 29.09.2025 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the assessee is against t…

M/S. PATANJALI FOODS LTD (FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD),MUMBAI vs. DY COMM OF INCOME TAX- CENTRAL CIRCLE-7(2), MUMBAI

In the result the appeal filed by the revenue stands\ndismissed

Bench: Shri Sandeep Gosain&\Nshri Prabhash Shankar\N\Ni.T.A. No. 319& 321/Mum/2023\Na.Ys: 2007-08 & 2011-12\N\Npatanjali Food Ltd (Formerly Vs\Nknown As Ruchi Soya\Nindustries Ltd)\N616, Tulsiani Chambers,\Nnariman Point, Mumbai\Npan - Aaacr2892L\Ndy. Cit, Cc – 7(2)\N655, 6Th Floor, Aayakar\Nbhavan, Mk Road, Mumbai\N400020.\N(Appellant)\N(Respondent)\N\Ni.T.A. No. 1173 & 1174/Mum/2023\Na.Ys: 2007-08, 2011-12\Ndy. Cit, Cc – 7(2)\N655, 6Th Floor, Aayakar\Nbhavan, Mk Road, Mumbai\N400020.\N(Appellant)\Nvs\Npatanjali\Nfood\Nltd\N(Formerly Known As Ruchi\Nsoya Industries Ltd)\N616, Tulsiani Chambers,\Nnariman Point, Mumbai\Npan – Aaacr2892L\N(Respondent)\N\Nassessee By\Nrevenue By\Ndate Of Hearing\Ndate Of Pronouncement\N\Nshri Ss Nagar (Virtually Appeared) &\Nshri B Maheshwari\Nshri Ra Dhyani, Cit Dr\N11.08.2025\N15.09.2025\N\Norder\N\Nper: Shri. Sandeep Gosain, J.M.:\Nthe Present Appeals Have Been Filed By The Assessee\Nchallenging The Different Impugned Orders Passed Under\Nsection 250 Of The Income Tax Act, 1961 (‘The Act'), By The\Nnational Faceless Appeal Centre (Nfac) / Cit(A) For The\N Assessment Year 2007-08 & 2011-12.\N\N2. Since All The Issues Involved In These Two Appeals Are\Ncommon & Identical, Therefore, They Have Been Clubbed,\Nheard Together & Consolidated Order Is Being Passed For\Nthe Sake Of Convenience & Brevity.\N\Nita No. 319/Mum/2023, A.Y 2007-08\N\N3. At The Time Of Hearing Ld.Ar Stated At Bar That Assessee\Nwants To Withdraw The Present Appeal. Therefore, Considering\Nthe Statement Of The Ld.Ar, The Present Appeal Filed By The\Nassessee Stands Dismissed As Withdrawn.\N\N3.

…{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI\nBEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER &\nSHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER\n\nI.T.A. No. 319& 321/Mum/2023\nA.Ys: 2007-08 & 2011-12\n\nPatanjali Food Ltd (Formerly Vs\nKnown as Ruchi Soya\nIndustries Ltd)\n616, Tulsiani Chambers,\nNariman Point, Mumbai\nPAN - AAACR2892L\nDy. CIT, CC – 7(2)\n655, 6th Floor, Aayakar\nBhavan, MK Road, Mumbai\n400020.\n(Appellant)\n(Respondent)\n\nI.T.A. No. 1173 & 1174/Mum/2023\nA.Ys: 2007-08, 2011-12\nDy. CIT, CC – 7(2)\n655, 6th Floor, Aayakar\nBhavan, MK Road, Mumbai\n400020.\n(Appellant)\nVs\…

PATANJALI FOODS LTD (FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD),MUMBAI vs. DY COMM OF INCOME TAX-CENTRAL CIRCLE-7(2), MUMBAI

In the result the appeal filed by the revenue stands\ndismissed

Bench: Shri Sandeep Gosain&\Nshri Prabhash Shankar\N\Ni.T.A. No. 319& 321/Mum/2023\Na.Ys: 2007-08 & 2011-12\Npatanjali Food Ltd (Formerly Vs Dy. Cit, Cc – 7(2)\Nknown As Ruchi Soya 655, 6Th Floor, Aayakar\Nindustries Ltd) Bhavan, Mk Road, Mumbai\N616, Tulsiani Chambers, 400020.\Nnariman Point, Mumbai\Npan - Aaacr2892L\N(Respondent)\N(Appellant)\N\Ni.T.A. No. 1173 & 1174/Mum/2023\Na.Ys: 2007-08, 2011-12\Ndy. Cit, Cc – 7(2) Vs Patanjali Food Ltd\N655, 6Th Floor, Aayakar (Formerly Known As Ruchi\Nbhavan, Mk Road, Mumbai Soya Industries Ltd)\N400020.\N616, Tulsiani Chambers,\N(Appellant) Nariman Point, Mumbai\Npan – Aaacr2892L\N(Respondent)\N\Nassessee By Shri Ss Nagar (Virtually Appeared) &\Nshri B Maheshwari\Nrevenue By Shri Ra Dhyani, Cit Dr\Ndate Of Hearing 11.08.2025\Ndate Of Pronouncement 15.09.2025\N\Norder\N\Nper: Shri. Sandeep Gosain, J.M.:\N\Nthe Present Appeals Have Been Filed By The Assessee\Nchallenging The Different Impugned Orders Passed Under\Nsection 250 Of The Income Tax Act, 1961 (‘The Act'), By The\Nnational Faceless Appeal Centre (Nfac) / Cit(A) For The\N Assessment Year 2007-08 & 2011-12.\N\N2. Since All The Issues Involved In These Two Appeals Are\Ncommon & Identical, Therefore, They Have Been Clubbed,\Nheard Together & Consolidated Order Is Being Passed For\N\Nthe Sake Of Convenience & Brevity.\N\Nita No. 319/Mum/2023, A.Y 2007-08\N\N3. At The Time Of Hearing Ld.Ar Stated At Bar That Assessee\Nwants To Withdraw The Present Appeal. Therefore, Considering\Nthe Statement Of The Ld.Ar, The Present Appeal Filed By The\Nassessee Stands Dismissed As Withdrawn.\N\N3.

…{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI\n\nBEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER &\nSHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER\n\nI.T.A. No. 319& 321/Mum/2023\nA.Ys: 2007-08 & 2011-12\nPatanjali Food Ltd (Formerly Vs Dy. CIT, CC – 7(2)\nKnown as Ruchi Soya 655, 6th Floor, Aayakar\nIndustries Ltd) Bhavan, MK Road, Mumbai\n616, Tulsiani Chambers, 400020.\nNariman Point, Mumbai\nPAN - AAACR2892L\n(Respondent)\n(Appellant)\n\nI.T.A. No. 1173 & 1174/Mum/2023\nA.Ys: 2007-08, 2011-12\nDy. CIT, CC – 7(2) Vs Patanjali Food Ltd\n655, 6th Floor, Aayakar (Formerly Known as Ruchi\nBhavan,…