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.

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result, the appeal and cross objections of the assessee are

ITA 1176/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) DCIT, Central Circle-7(2) Room No. 637, 6th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/s. Patanjali Foods Ltd Vs. (Formerly known as Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

ITA 1175/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) DCIT, Central Circle-7(2) Room No. 637, 6th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/s. Patanjali Foods Ltd Vs. (Formerly known as Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 1172/MUM/2023[2010-11]Status: DisposedITAT Mumbai05 Apr 2024AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT, Central Circle-7(2) बिधम/ M/s. Patanjali Foods Ltd Room No. 637, 6th Floor, (Formerly known as Vs. Aayakar Bhavan, M. K. Ruchi Soya Industries Road, Mumbai-400020. Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

Lupin Ltd., Mumbai vs. The Dy CIT, Circle-3(4), Mumbai

In the result, the appeal of the assessee in I

ITA 77/MUM/2021[2013-14]Status: DisposedITAT Mumbai18 Mar 2024AY 2013-14

Bench: Shri Pavan Kumar Gadale, Jm & Ms Padmavathy S, Am

For Appellant: Shri Rajan Vora, Shri PranayFor Respondent: Ms. Manju Thakur, Sr. DR
Section 10ASection 115JSection 143(3)Section 154Section 271(1)(c)Section 37(1)

…n the case of Biocon Ltd vs. DCIT (144 ITD 21). It is pertinent to mention that the decision rendered by the 24 ITA Nos. 77/M /21, 1241 to 1242/M/ 2021 & C.O. 01/M /2022 Lupin Limited Special bench has since been upheld by the Hon’ble Karnataka High Court in 430 ITR 151. 15.2 The Ld D.R submitted that the Circular no. 9 of 2007 issued by CBDT has not been considered by the Special bench or by the Hon’ble High Court of Karnataka. 15.3 We heard Ld A.R and perused the record. It is well settled proposition that the Circular issued by CBDT is binding only on tax authorities and it will not bind on the Courts. The Ho…

Asstt. CIT -Circle-3(4), Mumbai vs. M/S. Lupin Ltd., Mumbai

In the result, the appeal of the assessee in I

ITA 1241/MUM/2021[2013-14]Status: DisposedITAT Mumbai18 Mar 2024AY 2013-14

Bench: Shri Pavan Kumar Gadale, Jm & Ms Padmavathy S, Am

For Appellant: Shri Rajan Vora, Shri PranayFor Respondent: Ms. Manju Thakur, Sr. DR
Section 10ASection 115JSection 143(3)Section 154Section 271(1)(c)Section 37(1)

…n the case of Biocon Ltd vs. DCIT (144 ITD 21). It is pertinent to mention that the decision rendered by the 24 ITA Nos. 77/M /21, 1241 to 1242/M/ 2021 & C.O. 01/M /2022 Lupin Limited Special bench has since been upheld by the Hon’ble Karnataka High Court in 430 ITR 151. 15.2 The Ld D.R submitted that the Circular no. 9 of 2007 issued by CBDT has not been considered by the Special bench or by the Hon’ble High Court of Karnataka. 15.3 We heard Ld A.R and perused the record. It is well settled proposition that the Circular issued by CBDT is binding only on tax authorities and it will not bind on the Courts. The Ho…

DCIT, Circle-7(1), Delhi vs. Eicher Motors Limited, Delhi

ITA 3721/DEL/2023[2015-16]Status: DisposedITAT Delhi15 Mar 2024AY 2015-16

Bench: Shri Kul Bharat & Dr. B.R.R. Kumarassessment Year: 2015-16

Section 35

…expenditure, being the difference between fair market value on the date of exercise and exercise price, following the decision in the case of the Biocon Limited vs DCIT: 35 taxmann.com 335 (Bang) (SB) which was affirmed by the Hon'ble Karnataka High Court in 430 ITR 151 (Kar.) and remitted it to the AO for adjudication. (Refer page 115-126 of the PB, relevant finding @ page 124-126). Thereafter, the AO passed orders u/s 154/254/ 143(3) dated 11.08.2023 for AY 2013-14 and 2014-15 allowing deduction of ESOP discount. (Refer order for AY 2013-14 @ page 127 to 130 and order for AY 2014-15 @ page 131 to 134 of the P…

Eicher Motors Limited, New Delhi vs. DCIT Circle 7(1) New Delhi, New Delhi

ITA 3525/DEL/2023[2015-16]Status: DisposedITAT Delhi15 Mar 2024AY 2015-16

Bench: Shri Kul Bharat & Dr. B.R.R. Kumarassessment Year: 2015-16

Section 35

…expenditure, being the difference between fair market value on the date of exercise and exercise price, following the decision in the case of the Biocon Limited vs DCIT: 35 taxmann.com 335 (Bang) (SB) which was affirmed by the Hon'ble Karnataka High Court in 430 ITR 151 (Kar.) and remitted it to the AO for adjudication. (Refer page 115-126 of the PB, relevant finding @ page 124-126). Thereafter, the AO passed orders u/s 154/254/ 143(3) dated 11.08.2023 for AY 2013-14 and 2014-15 allowing deduction of ESOP discount. (Refer order for AY 2013-14 @ page 127 to 130 and order for AY 2014-15 @ page 131 to 134 of the P…

Fractal Analytics Private Limited, Mumbai vs. ACIT, Circle 1(3)(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 3678/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

Bench: SHRI VIKAS AWASTHY (Judicial Member), MS. PADMAVATHY.S (Accountant Member)

For Appellant: Shri Sukhsagar Syal,AdvocateFor Respondent: Ms. Rajeshwari Menon
Section 14ASection 234BSection 270ASection 37(1)

…आयकर अपीलीय अिधकरण मुंबई पीठ “एफ ”,मुंबई "ी िवकास अव"थी, , , , "ाियक सद" एवं सु"ी प"ावती. एस, , , , लेखाकार सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & MS. PADMAVATHY.S, ACCOUNTANT MEMBER आअसं.3678/मुं/2023 (िन.व. 2017-18) Fractal Analytics Private Limited Level 7, Commerz II, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon(East), Mumbai 400 063 PAN: AAACF-4502-D ...... अपीलाथ"/Appellant बनाम Vs. Asst. Commissioner of Income Tax, Cir. 1(3)(1), Room No.418, 4th Floor, Aaykar Bhavan, M.K.Road, Mumbai -4…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 80/HYD/2017[2011-12]Status: DisposedITAT Hyderabad31 Jan 2024AY 2011-12

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA Nos.73 to 75/Hyd/2017 Assessment Years: 2008-09 to 2010-11 Nagarjuna Construction Vs. Dy.CIT Company Ltd (NCCL) Central Circle 1(1) Hyderabad Hyderabad (Appellant) (Respondent) PAN:AAACN7335C ITA Nos.77 to 80/Hyd/2017 Assessment Years: 2008-09 to 2011-12 Dy.CIT Vs. Nagarjuna Construction Central Circle 1(1) Company Ltd (NCCL) Hyderabad Hyderabad PAN:AAACN7335C (Appellant) (Respondent…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 79/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Jan 2024AY 2010-11

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA Nos.73 to 75/Hyd/2017 Assessment Years: 2008-09 to 2010-11 Nagarjuna Construction Vs. Dy.CIT Company Ltd (NCCL) Central Circle 1(1) Hyderabad Hyderabad (Appellant) (Respondent) PAN:AAACN7335C ITA Nos.77 to 80/Hyd/2017 Assessment Years: 2008-09 to 2011-12 Dy.CIT Vs. Nagarjuna Construction Central Circle 1(1) Company Ltd (NCCL) Hyderabad Hyderabad PAN:AAACN7335C (Appellant) (Respondent…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 78/HYD/2017[2009-10]Status: DisposedITAT Hyderabad31 Jan 2024AY 2009-10

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA Nos.73 to 75/Hyd/2017 Assessment Years: 2008-09 to 2010-11 Nagarjuna Construction Vs. Dy.CIT Company Ltd (NCCL) Central Circle 1(1) Hyderabad Hyderabad (Appellant) (Respondent) PAN:AAACN7335C ITA Nos.77 to 80/Hyd/2017 Assessment Years: 2008-09 to 2011-12 Dy.CIT Vs. Nagarjuna Construction Central Circle 1(1) Company Ltd (NCCL) Hyderabad Hyderabad PAN:AAACN7335C (Appellant) (Respondent…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 77/HYD/2017[2008-09]Status: DisposedITAT Hyderabad31 Jan 2024AY 2008-09

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA Nos.73 to 75/Hyd/2017 Assessment Years: 2008-09 to 2010-11 Nagarjuna Construction Vs. Dy.CIT Company Ltd (NCCL) Central Circle 1(1) Hyderabad Hyderabad (Appellant) (Respondent) PAN:AAACN7335C ITA Nos.77 to 80/Hyd/2017 Assessment Years: 2008-09 to 2011-12 Dy.CIT Vs. Nagarjuna Construction Central Circle 1(1) Company Ltd (NCCL) Hyderabad Hyderabad PAN:AAACN7335C (Appellant) (Respondent…

Ncc Limited, Hyderabad vs. DCIT, Central Circle-1(1), Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 75/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Jan 2024AY 2010-11

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA Nos.73 to 75/Hyd/2017 Assessment Years: 2008-09 to 2010-11 Nagarjuna Construction Vs. Dy.CIT Company Ltd (NCCL) Central Circle 1(1) Hyderabad Hyderabad (Appellant) (Respondent) PAN:AAACN7335C ITA Nos.77 to 80/Hyd/2017 Assessment Years: 2008-09 to 2011-12 Dy.CIT Vs. Nagarjuna Construction Central Circle 1(1) Company Ltd (NCCL) Hyderabad Hyderabad PAN:AAACN7335C (Appellant) (Respondent…

Ncc Limited, Hyderabad vs. DCIT, Central Circle-1(1), Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 74/HYD/2017[2009-10]Status: DisposedITAT Hyderabad31 Jan 2024AY 2009-10

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA Nos.73 to 75/Hyd/2017 Assessment Years: 2008-09 to 2010-11 Nagarjuna Construction Vs. Dy.CIT Company Ltd (NCCL) Central Circle 1(1) Hyderabad Hyderabad (Appellant) (Respondent) PAN:AAACN7335C ITA Nos.77 to 80/Hyd/2017 Assessment Years: 2008-09 to 2011-12 Dy.CIT Vs. Nagarjuna Construction Central Circle 1(1) Company Ltd (NCCL) Hyderabad Hyderabad PAN:AAACN7335C (Appellant) (Respondent…

Ncc Limited, Hyderabad vs. DCIT, Central Circle-1(1), Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 73/HYD/2017[2008-09]Status: DisposedITAT Hyderabad31 Jan 2024AY 2008-09

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA Nos.73 to 75/Hyd/2017 Assessment Years: 2008-09 to 2010-11 Nagarjuna Construction Vs. Dy.CIT Company Ltd (NCCL) Central Circle 1(1) Hyderabad Hyderabad (Appellant) (Respondent) PAN:AAACN7335C ITA Nos.77 to 80/Hyd/2017 Assessment Years: 2008-09 to 2011-12 Dy.CIT Vs. Nagarjuna Construction Central Circle 1(1) Company Ltd (NCCL) Hyderabad Hyderabad PAN:AAACN7335C (Appellant) (Respondent…

Lupin Ltd., Mumbai vs. The Dy CIT, Circle-3(4), Mumbai

In the result, all the appeals of the assessee and revenue are treated as partly allowed

ITA 1921/MUM/2020[2010-11]Status: DisposedITAT Mumbai25 Jan 2024AY 2010-11

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

…ssessee following the decision rendered by Special bench of Bangalore ITAT in the case of Biocon Ltd vs. DCIT (144 ITD 21). It is pertinent to mention that the decision rendered by the Special bench has since been upheld by the Hon’ble Karnataka High Court in 430 ITR 151. 15.2 The Ld D.R submitted that the Circular no. 9 of 2007 issued by CBDT has not been considered by the Special bench or by the Hon’ble High Court of Karnataka. 15.3 We heard Ld A.R and perused the record. It is well settled proposition that the Circular issued by CBDT is binding only on tax authorities and it will not bind on the Courts. The Ho…

Deputy Commissioner of Income Tax, C-1(1)(1), Bangalore vs. Algonomy Software Private Limited (Formerly Known As Manthan Software Services Pvt Ltd), Bangalore

In the result, all the appeals filed by the revenue stands dismissed and the cross objections being C

ITA 946/BANG/2023[2015-16]Status: DisposedITAT Bangalore19 Jan 2024AY 2015-16

Bench: Shri Laxmi Prasad Sahu & Ms. Madhumita Roy

For Respondent: Ms. Neera Malhotra, CIT-DR
Section 143(3)Section 147Section 148Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER ITA Nos. 943 to 946/Bang/2023 Assessment Years : 2012-13 to 2015-16 M/s. Algonomy Software Pvt. Ltd. (formerly known as The Deputy Manthan Software Commissioner of Services Pvt. Ltd.), Income Tax, No. 40/4, First Floor, Circle – 1(1)(1), Lavelle Road, Vs. Bangalore. Bangalore. Karnataka – 560 001 PAN: AADCM7750M APPELLANT RESPONDENT & C.O. Nos. 14 to 17/Bang/2023 (in ITA Nos. 943 to 946/Bang/2023) (By Assessee) : Shri Narendra Kumar Jain, Assessee by Advocate Revenue…

Deputy Commissioner of Income Tax, C-1(1)(1), Bangalore vs. Algonomy Software Private Limited (Formerly Known As Manthan Software Services Pvt Ltd), Bangalore

In the result, all the appeals filed by the revenue stands dismissed and the cross objections being C

ITA 945/BANG/2023[2014-15]Status: DisposedITAT Bangalore19 Jan 2024AY 2014-15

Bench: Shri Laxmi Prasad Sahu & Ms. Madhumita Roy

For Respondent: Ms. Neera Malhotra, CIT-DR
Section 143(3)Section 147Section 148Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER ITA Nos. 943 to 946/Bang/2023 Assessment Years : 2012-13 to 2015-16 M/s. Algonomy Software Pvt. Ltd. (formerly known as The Deputy Manthan Software Commissioner of Services Pvt. Ltd.), Income Tax, No. 40/4, First Floor, Circle – 1(1)(1), Lavelle Road, Vs. Bangalore. Bangalore. Karnataka – 560 001 PAN: AADCM7750M APPELLANT RESPONDENT & C.O. Nos. 14 to 17/Bang/2023 (in ITA Nos. 943 to 946/Bang/2023) (By Assessee) : Shri Narendra Kumar Jain, Assessee by Advocate Revenue…

Deputy Commissioner of Income Tax, C-1(1)(1), Bangalore vs. Algonomy Software Private Limited (Formerly Known As Manthan Software Services Pvt Ltd), Bangalore

In the result, all the appeals filed by the revenue stands dismissed and the cross objections being C

ITA 944/BANG/2023[2013-14]Status: DisposedITAT Bangalore19 Jan 2024AY 2013-14

Bench: Shri Laxmi Prasad Sahu & Ms. Madhumita Roy

For Respondent: Ms. Neera Malhotra, CIT-DR
Section 143(3)Section 147Section 148Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER ITA Nos. 943 to 946/Bang/2023 Assessment Years : 2012-13 to 2015-16 M/s. Algonomy Software Pvt. Ltd. (formerly known as The Deputy Manthan Software Commissioner of Services Pvt. Ltd.), Income Tax, No. 40/4, First Floor, Circle – 1(1)(1), Lavelle Road, Vs. Bangalore. Bangalore. Karnataka – 560 001 PAN: AADCM7750M APPELLANT RESPONDENT & C.O. Nos. 14 to 17/Bang/2023 (in ITA Nos. 943 to 946/Bang/2023) (By Assessee) : Shri Narendra Kumar Jain, Assessee by Advocate Revenue…

Fortune Park Hotels Ltd., Gurgaon vs. ACIT Circle-9(2), New Delhi

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

ITA 1396/DEL/2020[2016-17]Status: DisposedITAT Delhi12 Jan 2024AY 2016-17

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 139(5)Section 143(3)Section 244A

…overed in favour of the assessee by the decision of Hon’ble Jurisdictional High Court in the case of PCIT vs. New Delhi Television Ltd. reported in 398 ITR 57; decision of Hon’ble Karnataka High Court in the case of CIT vs. Biocon Ltd. vs. DCIT reported in 430 ITR 151; decision of Hon’ble Jurisdictional High Court in the Page 7 of 9 Fortune Park Hotels Ltd. vs. ACIT case of CIT vs. Lemon Tree Hotels Ltd. in ITA No.107/2015; the decision of Hon’ble Jurisdictional High Court in the case of PVR Ltd. vs. CIT in ITA No.564/2012 dated 23/08/2022 and decision of Hon’ble Madras High Court in the case of CIT vs. PVP…