CIT v. Biocon Ltd.

121 Taxmann.com 351High Court2020#360 most cited

What is CIT v. Biocon Ltd. authority for?

Expenditure incurred on Employee Stock Option Plans (ESOPs) is an allowable business deduction under the Income-tax Act, 1961.

242

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v. Biocon Ltd. · Biocon Ltd. · ESOP expenditure · ESOP deduction · Employee Stock Option Plan · section 37(1) · allowance of ESOP · Karnataka High Court · 430 ITR 151

Also reported as

430 ITR 151

Sections most often in play

Section 37(1)Section 143(3)Section 1961Section 14ASection 250Section 115JBSection 144BSection 147

Issues it is cited on

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

Judgments citing CIT v. Biocon Ltd.

Info Edge (India) Limited, Delhi vs. Assistant Commisioner of Income Tax, Circle 10(1), Delhi

In the result, all the appeals of the Revenue in ITA Nos

ITA 2581/DEL/2023[2014-15]Status: DisposedITAT Delhi29 Nov 2024AY 2014-15

Bench: Shri Pradip Kumar Kedia & Shri Sudhir Pareeksl. Ita/Co No(S) Asst. Appeal(S) By No Year(S) Appellant Vs. Respondent Appellant Respondent 1. 2014-15 M/S. Info Edge (India) Acit Ltd. Circle – 10(1) Gf-12A, 94, Meghdoot Delhi Building, Nehru Place, New Delhi – 110019 2. 2015-16 -Do- -Do- 3. 2017-18 -Do- -Do- 4. 2018-19 -Do- -Do- 5. 2020-21 -Do- -Do- 6. 2014-15 Dy. Cit, Circle – 10(1) M/S. Info Edge (India) New Delhi Ltd. Gf-12A, 94, Meghdoot Building, Nehru Place, New Delhi – 110019 7. 2015-16 -Do- -Do 8. 2017-18 -Do- -Do- 9. 2018-19 -Do- -Do- 10. Ita No.2648/Del/2023 2020-21 -Do- -Do- 11. Ita No.2649/Del/2023 2021-22 -Do- -Do- Assessee By Shri S. K. Aggarwal, C.A. & Ms. Jyoti Yadav, C.A. Revenue By Shri Dayainder Singh Sidhu, Cit(D.R.) Date Of Hearing: 19.11.2024 Date Of Pronouncement: 29.11.2024 Order Per Pradip Kumar Kedia, Am : The Captioned Eleven Appeals Arise From The Order Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac) - Delhi In Respective Assessment Orders Passed By The Assessing Officer Tabulated Hereunder:

Section 143(3)Section 14ASection 8D

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’, NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI SUDHIR PAREEK, JUDICIAL MEMBER Sl. ITA/CO No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. 2014-15 M/s. Info Edge (India) ACIT Ltd. Circle – 10(1) GF-12A, 94, Meghdoot Delhi Building, Nehru Place, New Delhi – 110019 2. 2015-16 -do- -do- 3. 2017-18 -do- -do- 4. 2018-19 -do- -do- 5. 2020-21 -do- -do- 6. 2014-15 Dy. CIT, Circle – 10(1) M/s. Info Edge (India) New Delhi Ltd. GF-12A, 94, Meghdoot Building, Nehru Place, New Delhi – 110019 7. 2015-16 -do- -do 8.…

DCIT Central Circle 5 4, Mumbai vs. L and T Valdel Engineering Limited, Bangaluru

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4767/MUM/2023[2011-12]Status: DisposedITAT Mumbai30 Oct 2024AY 2011-12

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

DCIT Central Circle 5(4), Mumbai vs. L and T Valdel Engineering Limited, Bangaluru

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4715/MUM/2023[2013-14]Status: DisposedITAT Mumbai30 Oct 2024AY 2013-14

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

DCIT CC -5 (4), Mumbai vs. L and T Valdel Engineering Limited, Mumbai

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4684/MUM/2023[2015-16]Status: DisposedITAT Mumbai30 Oct 2024AY 2015-16

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

DCIT Central Circle 5 4 Mumbai, Mumbai vs. L and T Valdel Engineering Limited, Bangaluru

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4683/MUM/2023[2014-15]Status: DisposedITAT Mumbai30 Oct 2024AY 2014-15

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

DCIT Central Circle 5 4, Mumbai vs. L and T Valdel Engineering Limited, Karnataka

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4682/MUM/2023[2012-13]Status: DisposedITAT Mumbai30 Oct 2024AY 2012-13

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

Larsen & Toubro Limited (Successor to M/S L & T Va;De; Engineering Limited ), Mumbai vs. Assistant Commissioner of Income Tax, Central Circle 5(4) Mumbai (Earlier AO Dcitm Circle 11(5) Bangalore, Mumbai

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4555/MUM/2023[2015-16]Status: DisposedITAT Mumbai30 Oct 2024AY 2015-16

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

Larsen & Toubro Limited (Successor to M/S L & T Valdel Engineering Limited ), Mumbai vs. Assistant Commissioner of Income Tax, Central Circle 5(4), Mumbai

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4554/MUM/2023[2014-15]Status: DisposedITAT Mumbai30 Oct 2024AY 2014-15

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

Larsen & Toubro Limited (Successor to M/S L & T Valdel Engineering Limited ), Mumbai vs. Assistant Commissioner of Income Tax, Central Circle 5(4), Mumbai Earlier AO DCIT, Circle 11(5) Banglore, Mumbai

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4553/MUM/2023[2013-14]Status: DisposedITAT Mumbai30 Oct 2024AY 2013-14

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

Larsen & Toubro Limited (Successor to M/S L & T Valdel Engineering Limited ), Mumbai vs. Assistant Commissioner of Income Tax. Central Circle 5(4) Mumbai(Earlier AO DCIT, Circle 11(5) Bangalore ), Mumbai

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4552/MUM/2023[2012-13]Status: DisposedITAT Mumbai30 Oct 2024AY 2012-13

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

Larsen & Toubro Limited, Mumbai vs. Assistant Commissioner of Income Tax Central Circle 5(4), Mumbai (Earlier AO DCIT, Circle 11(5) Banglore ., Mumbai

In the result, all appeals filed by the assessee stands allowed and appeals filed by the revenue stands dismissed for all assessment years under consideration

ITA 4551/MUM/2023[2011-12]Status: DisposedITAT Mumbai30 Oct 2024AY 2011-12

Bench: Smt. Beena Pillai, Jm & Shri Omkareshwar Chidara, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM & SHRI OMKARESHWAR CHIDARA, AM I.T.A. No.4551/Mum/2023 (Assessment Year: 2011-12) I.T.A. No.4552/Mum/2023 (Assessment Year: 2012-13) I.T.A. No.4553/Mum/2023 (Assessment Year: 2013-14) I.T.A. No.4554/Mum/2023 (Assessment Year: 2014-15) I.T.A. No.4555/Mum/2023 (Assessment Year: 2015-16) Larsen & Toubro Ltd. (successor to ACIT, CC-5(4) (earlier AO L&T Valdel Engineering Ltd.) DCIT, Circle-11(5), Bangalore), L&T House, N.M. Marg, Vs. Room No. 1927, 19th Floor, Mumbai-400001. Air India Building, PAN : AAACL0140P Nariman Point, Mumbai-…

Deputy Commissioner of Income Tax, Circle -1(1)(1), Bengaluru vs. Algonomy Software Private Limited, Bengaluru

In the result, the appeals filed by the Revenue for AY 2016-17 to 2018-

ITA 1229/BANG/2024[2018-19]Status: DisposedITAT Bangalore15 Oct 2024AY 2018-19

Bench: Shri George George K. & Ms. Padmavathy S.

For Appellant: Shri Narendra Kumar Jain, AdvocateFor Respondent: Shri R.N. Siddappaji, CIT-DR
Section 133ASection 14Section 195Section 37Section 40Section 9(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE “A” BENCH, BANGALORE Before Shri George George K., Vice President and Ms. Padmavathy S., Accountant Member ITA Nos. 1196, 1226 & 1229/Bang/2024 (Assessment Years: 2016-17 to 2018-19) DCIT, Circle - 1(1)(1) Algonomy Software Pvt. Ltd. Room No. 215, 2nd Floor 40/4 Lavelle Road BMTC Building, 6th Block vs. Bangalore Bazaar Koramangala Bangalore 560001 Bangalore 560095 PAN – AADCM7750M (Appellant) (Respondent) Assessee by: Shri Narendra Kumar Jain, Advocate Revenue by: Shri R.N. Siddappaji, CIT-DR Date of hearing: 14.10.2024 Date of pronouncement: 15.10.2024 O R D E…

Deputy Commissioner of Income Tax, Circle - 1(1)(1), Bengaluru vs. Algonomy Software Private Limited, Bengaluru

In the result, the appeals filed by the Revenue for AY 2016-17 to 2018-

ITA 1226/BANG/2024[2017-18]Status: DisposedITAT Bangalore15 Oct 2024AY 2017-18

Bench: Shri George George K. & Ms. Padmavathy S.

For Appellant: Shri Narendra Kumar Jain, AdvocateFor Respondent: Shri R.N. Siddappaji, CIT-DR
Section 133ASection 14Section 195Section 37Section 40Section 9(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE “A” BENCH, BANGALORE Before Shri George George K., Vice President and Ms. Padmavathy S., Accountant Member ITA Nos. 1196, 1226 & 1229/Bang/2024 (Assessment Years: 2016-17 to 2018-19) DCIT, Circle - 1(1)(1) Algonomy Software Pvt. Ltd. Room No. 215, 2nd Floor 40/4 Lavelle Road BMTC Building, 6th Block vs. Bangalore Bazaar Koramangala Bangalore 560001 Bangalore 560095 PAN – AADCM7750M (Appellant) (Respondent) Assessee by: Shri Narendra Kumar Jain, Advocate Revenue by: Shri R.N. Siddappaji, CIT-DR Date of hearing: 14.10.2024 Date of pronouncement: 15.10.2024 O R D E…

Deputy Commissioner of Income Tax-Circle-1(1)(1), Bangalore., Bengaluru vs. Algonomy Software Private Limited, Bengaluru

In the result, the appeals filed by the Revenue for AY 2016-17 to 2018-

ITA 1196/BANG/2024[2016-17]Status: DisposedITAT Bangalore15 Oct 2024AY 2016-17

Bench: Shri George George K. & Ms. Padmavathy S.

For Appellant: Shri Narendra Kumar Jain, AdvocateFor Respondent: Shri R.N. Siddappaji, CIT-DR
Section 133ASection 14Section 195Section 37Section 40Section 9(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE “A” BENCH, BANGALORE Before Shri George George K., Vice President and Ms. Padmavathy S., Accountant Member ITA Nos. 1196, 1226 & 1229/Bang/2024 (Assessment Years: 2016-17 to 2018-19) DCIT, Circle - 1(1)(1) Algonomy Software Pvt. Ltd. Room No. 215, 2nd Floor 40/4 Lavelle Road BMTC Building, 6th Block vs. Bangalore Bazaar Koramangala Bangalore 560001 Bangalore 560095 PAN – AADCM7750M (Appellant) (Respondent) Assessee by: Shri Narendra Kumar Jain, Advocate Revenue by: Shri R.N. Siddappaji, CIT-DR Date of hearing: 14.10.2024 Date of pronouncement: 15.10.2024 O R D E…

ACIT Circle 4.3.1, Mumbai vs. Just Dial Ltd, Mumbai

In the result, the appeal by the Revenue for the assessment year 2020-

ITA 486/MUM/2024[2017-18]Status: DisposedITAT Mumbai23 Sept 2024AY 2017-18

Bench: Shri. Om Prakash Kant & Shri. Sandeep Singh Karhail

For Appellant: Shri Madhur Agarwal, Ms. MokshaFor Respondent: Shri Ankush Kapoor, CIT DR
Section 115Section 115JSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI. OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI. SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no. 254/Mum./2024 (Assessment Year :2017–2018) Just Dial Limited Palm Court Building M, 501/B, 5th Floor, New Link Road, Besides Goregaon Sports Club, Malad (West), Mumbai – 400064. PAN-AAACA8049G ……………. Appellant v/s Deputy Commissioner of Income Tax Circle 4(3)(1), Mumbai Room No. 649, 6th Floor, Aayakar Bhavan, ……………. Respondent Maharishi Karve Road, Mumbai – 400020. ITA no. 486/Mum./2024 ITA no. 485/Mum./2024 (Assessment Year :2017–2018) (Assessment Year…

ACIT Circle 4.3.1, Mumbai vs. Just Dial Ltd, Mumbai

In the result, the appeal by the Revenue for the assessment year 2020-

ITA 483/MUM/2024[2021-22]Status: DisposedITAT Mumbai23 Sept 2024AY 2021-22

Bench: Shri. Om Prakash Kant & Shri. Sandeep Singh Karhail

For Appellant: Shri Madhur Agarwal, Ms. MokshaFor Respondent: Shri Ankush Kapoor, CIT DR
Section 115Section 115JSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI. OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI. SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no. 254/Mum./2024 (Assessment Year :2017–2018) Just Dial Limited Palm Court Building M, 501/B, 5th Floor, New Link Road, Besides Goregaon Sports Club, Malad (West), Mumbai – 400064. PAN-AAACA8049G ……………. Appellant v/s Deputy Commissioner of Income Tax Circle 4(3)(1), Mumbai Room No. 649, 6th Floor, Aayakar Bhavan, ……………. Respondent Maharishi Karve Road, Mumbai – 400020. ITA no. 486/Mum./2024 ITA no. 485/Mum./2024 (Assessment Year :2017–2018) (Assessment Year…

Just Dial Limited, Mumbai vs. Deputy Commissioner of Income Tax Circle 4(3)(1), Mumbai

In the result, the appeal by the Revenue for the assessment year 2020-

ITA 254/MUM/2024[2017-18]Status: DisposedITAT Mumbai23 Sept 2024AY 2017-18

Bench: Shri. Om Prakash Kant & Shri. Sandeep Singh Karhail

For Appellant: Shri Madhur Agarwal, Ms. MokshaFor Respondent: Shri Ankush Kapoor, CIT DR
Section 115Section 115JSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI. OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI. SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no. 254/Mum./2024 (Assessment Year :2017–2018) Just Dial Limited Palm Court Building M, 501/B, 5th Floor, New Link Road, Besides Goregaon Sports Club, Malad (West), Mumbai – 400064. PAN-AAACA8049G ……………. Appellant v/s Deputy Commissioner of Income Tax Circle 4(3)(1), Mumbai Room No. 649, 6th Floor, Aayakar Bhavan, ……………. Respondent Maharishi Karve Road, Mumbai – 400020. ITA no. 486/Mum./2024 ITA no. 485/Mum./2024 (Assessment Year :2017–2018) (Assessment Year…

ACIT, Circle-6(1)(2), Mumbai vs. Ask Wealth Advisors Pvt. Limited, Mumbai

In the result Departmental appeal is dismissed

ITA 4215/MUM/2023[2017-18]Status: DisposedITAT Mumbai23 Sept 2024AY 2017-18

Bench: Shri Narender Kumar Choudhry(Jm) & Shri Omkareshwar Chidara (Am)

Section 115JSection 143(2)Section 37(1)

…Ld. CIT(A) deleted the addition made by the Ld. AO by relying on the Special Bench decision of the ITAT in the case of Biocon Ltd., which was held in favour of the assessee and subsequently confirmed by Hon'ble Karnataka High Court in the case of Biocon Ltd., 430 ITR 151, wherein the Departmental appeal was dismissed. Hon'ble Delhi High Court in the case of PCIT Vs. NDTV, 4 M/s. Ask Wealth Advisors Pvt. Ltd. Hon'ble Madras High Court in the case of PVP Venture Ltd., Hon'ble Jurisdictional ITAT of Mumbai in the case of Morgan Stanly Advantage Services Pvt. Ld. Vs. CIT (ITA No. 1083/Mum/2021 dated 27.6.2022 and H…

Assistant Commissioner of Income Tax, Kolhapur vs. Rbl Bank Ltd, Kolhapur

In the result, appeal filed by the Revenue is dismissed

ITA 833/PUN/2024[2016-17]Status: DisposedITAT Pune20 Sept 2024AY 2016-17

Bench: SATBEER SINGH GODARA, JUDICIAL MEMBER, AND DR.DIPAK P. RIPOTE (Accountant Member)

Section 250Section 28Section 37Section 37(1)

…, i.e. one containing submission filed by the assessee before the AO and ld.CIT(A) and another containing Case Laws. Ld.AR submitted that payment of ESOP Expenditure is a covered issue settled by the Hon’ble Karnataka High Court in CIT Vs. Biocon Ltd., [2020] 430 ITR 151(Kar). Ld.AR also submitted that for A.Y.2017-18 in assessee’s own case, ITAT in ITA No.509/PUN/2023 had allowed the ESOP Expenditure. 3.1 Ld.AR also explained that the issue related to Interest on Broken Period was also allowed by ITAT in assessee’s own case in ITA No.509/PUN/2023. Ld.AR took us through the relevant paragraphs of the ITAT Order.…

M/S. Bandhan Bank Ltd. (Erstwhile Ghosh Finance Ltd), Kolkata vs. DCIT, Cir-5(1), Kol, Kolkata

In the result, the appeal of the assessee is allowed

ITA 465/KOL/2023[2016-17]Status: DisposedITAT Kolkata26 Aug 2024AY 2016-17

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2016-17

For Appellant: Shri Biswanath Paul, FCAFor Respondent: Shri Subhro Das, Addl. CIT, Sr. DR
Section 143(3)Section 17(2)(vi)Section 192Section 250Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Year: 2016-17 M/s Bandhan Bank Limited, Deputy Commissioner of (Erstwhile Gruh Finance Income Tax – 5(1), Kolkata, Limited Merged with Bandhan Aayakar Bhawan, P-7, Bank Ltd. w.e.f 01.01.2019), Vs Chowringhee Square, DN-32, Salt Lake City, Sector-V, Kolkata - 700069 Kolkata - 700091 (PAN: AAACG7010K) (Appellant) (Respondent) Present for: Appellant by : Shri Biswanath Paul, FCA Respondent by : Shri Subhro Das, Addl. CIT, Sr. DR Date of Hearing : 11.07.2024 Date of Pr…