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.

Ultratech Cement Ltd, Mumbai vs. DCIT CC 1(4), Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 465/MUM/2020[2015-16]Status: DisposedITAT Mumbai12 May 2023AY 2015-16

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 115Section 32Section 32ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI ABY T VARKEY, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER M/s. UltraTech Cement Limited v. DCIT, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2nd Floor Room No. 902, 9th Floor Mahakali Caves Road Pratishtha Bhavan, Old CGO Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 PAN: AAACL6442L (Appellant) (Respondent) DCIT, Central Circle-1(4) v. M/s. UltraTech Cement Limited Room No. 902, 9th Floor Ahura Centre, ‘B’ Wing 2nd Floor Mahakali Caves Road Pratishtha Bhavan, Old CGO Annexe Maharishi…

M/S. Zensar Technologies Ltd, Mumbai vs. The ACIT -2(3), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 2908/MUM/2008[2003-2004]Status: DisposedITAT Mumbai12 May 2023AY 2003-2004

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Zensor Technologies Ltd V. Acit-2(3) Magnet House, 2Nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 Pan: Aaacf0742K (Appellant) (Respondent) Acit- 2(3) V. M/S. Zensor Technologies Ltd Room No. 555, Aayakar Bhavan Magnet House, 2Nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 Pan: Aaacf0742K (Appellant) (Respondent)

Section 10ASection 80HSection 92Section 92(1)Section 92CSection 94(7)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI ABY T VARKEY, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER M/s. Zensor Technologies Ltd v. ACIT-2(3) Magnet House, 2nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 PAN: AAACF0742K (Appellant) (Respondent) ACIT- 2(3) v. M/s. Zensor Technologies Ltd Room No. 555, Aayakar Bhavan Magnet House, 2nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 PAN: AAACF0742K (Appellant) (Respondent) Assessee Represented by : Shri Nitesh Joshi Department Represented by : Shri. Karan P.…

DCIT-2(3), Mumbai vs. M/S. Zensar Technologies Ltd., Mumbai

In the result, the appeal is partly allowed

ITA 5653/MUM/2009[2004-05]Status: DisposedITAT Mumbai19 Apr 2023AY 2004-05

Bench: Amit Shukla () & Ms. Padmavathy S. ()

Section 10ASection 80Section 92

…ettled issue that the ESOP expenses are an allowable expenditure and in this regard relied on the following decisions:- 1. PCIT vs New Delhi Television Ltd 398 ITR 57 (Del) 2. C IT vs PVP Ventures Ltd (2012) 211 Taxman 554 (Madras) 3. CIT vs Biocon Ltd (2021) 430 ITR 151 (Karnataka) 14. We heard the rival submissions and perused the material on rcord. We notice that the Hon’ble Delhi High Court in the case of PCIT vs New Delhi Television Ltd (supra) has considered a similar issue and held that – “4. The Special Bench ruling in Biocon Ltd. (supra) considered the matter rather elaborately and also examined all th…

DCIT-14(2)(1), Mumbai vs. Idea Cellular Ltd., Mumbai

In the result, appeal of the assessee is allowed and appeal of the Revenue is dismissed

ITA 3147/MUM/2018[2009-10]Status: DisposedITAT Mumbai31 Mar 2023AY 2009-10
Section 115JSection 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘I-2‘ BENCH MUMBAI BEFORE: SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Vodafone Idea Ltd Vs. Assistant Commissioner of (formerly known as Idea Income Tax HQ(Judl) to Cellular Limited) CIT-14, Mumbai 10th Floor, Birla Centurian Room No.461/432, 4th Floor Century Mills Compound Aayakar Bhavan Pandurang Budhkar Marg M.K.Road, Worli, Mumbai-400 030 Mumbai – 400 020 PAN/GIR No.AAACB2100P (Appellant) .. (Respondent) DCIT-14(2)(1) Vs. M/s. Vodafone Idea Ltd Mumbai (formerly known as Idea Cellular Room No.432, 4th Floor Limited) 5th Floor, Winds…

Idea Cellular Limited, Mumbai vs. Assistant Commissioner of Income Tax Hq (Judl) to CIT-14, Mumbai

In the result, appeal of the assessee is allowed and appeal of the Revenue is dismissed

ITA 2350/MUM/2018[2009-10]Status: DisposedITAT Mumbai31 Mar 2023AY 2009-10
Section 115JSection 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘I-2‘ BENCH MUMBAI BEFORE: SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Vodafone Idea Ltd Vs. Assistant Commissioner of (formerly known as Idea Income Tax HQ(Judl) to Cellular Limited) CIT-14, Mumbai 10th Floor, Birla Centurian Room No.461/432, 4th Floor Century Mills Compound Aayakar Bhavan Pandurang Budhkar Marg M.K.Road, Worli, Mumbai-400 030 Mumbai – 400 020 PAN/GIR No.AAACB2100P (Appellant) .. (Respondent) DCIT-14(2)(1) Vs. M/s. Vodafone Idea Ltd Mumbai (formerly known as Idea Cellular Room No.432, 4th Floor Limited) 5th Floor, Winds…

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

In the result, appeal of the revenue is dismissed

ITA 370/KOL/2022[2017-2018]Status: DisposedITAT Kolkata27 Mar 2023AY 2017-2018

Bench: Shri Sajnay Garg & Shri Girish Agrawalassessment Year: 2017-18

For Appellant: Shri Biswanath Paul, CAFor Respondent: Smt. Ranu Biswas, Addl. CIT, DR
Section 143(3)Section 17(2)(vi)Section 192Section 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA BEFORE SHRI SAJNAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2017-18 Deputy Commissioner of Bandhan Bank Ltd., Income-tax, Circle-5(1), Vs. DN-32, Saltlake Sector-V, Kolkata Kolkata-700091. (PAN: AAGCB1323G) (Appellant) (Respondent) Present for: Appellant by : Shri Biswanath Paul, CA Respondent by : Smt. Ranu Biswas, Addl. CIT, DR Date of Hearing : 11. 01.2023 Date of Pronouncement : 27.03.2023 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the revenue is against the order of Ld. CITA), National…

M/S. Flipkart India Pvt. Ltd., Bangalore vs. ACIT, Special Range-3, Bangalore

In the result, appeal of the assessee is allowed and appeal of revenue is dismissed

ITA 1141/BANG/2022[2017-18]Status: DisposedITAT Bangalore09 Mar 2023AY 2017-18

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2017-18

For Appellant: S/Shri Ajay Vohra, Sr. Counsel, Kishore Kunal & ParthFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 192Section 195Section 37Section 37(1)Section 40

…nses are allowable u/s. 37 of the Act has already been decided by ITA No.1141 & 1115/Bang/2022 Page 10 of 18 this Tribunal in favour of the assessee in the case of Biocon Ltd. (supra) which has also been affirmed by the Hon’ble Karnataka High Court in [2021] 430 ITR 151 (Karnataka) by categorically holding that “the expression ‘expenditure’ will also include a loss and therefore, issuance of shares at a discount where the assessee absorbs the difference between the price at which it is issued and the market value of the shares would also be expenditure incurred for the purposes of Section 37(1) of the Act.” 10.…

DCIT, Central Circle-1(4), Bengaluru vs. M/S. Flipkart India Pvt Ltd., Bengaluru

In the result, appeal of the assessee is allowed and appeal of revenue is dismissed

ITA 1115/BANG/2022[2017-18]Status: DisposedITAT Bangalore09 Mar 2023AY 2017-18

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2017-18

For Appellant: S/Shri Ajay Vohra, Sr. Counsel, Kishore Kunal & ParthFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 192Section 195Section 37Section 37(1)Section 40

…nses are allowable u/s. 37 of the Act has already been decided by ITA No.1141 & 1115/Bang/2022 Page 10 of 18 this Tribunal in favour of the assessee in the case of Biocon Ltd. (supra) which has also been affirmed by the Hon’ble Karnataka High Court in [2021] 430 ITR 151 (Karnataka) by categorically holding that “the expression ‘expenditure’ will also include a loss and therefore, issuance of shares at a discount where the assessee absorbs the difference between the price at which it is issued and the market value of the shares would also be expenditure incurred for the purposes of Section 37(1) of the Act.” 10.…

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

In the result, the appeal filed by the assessee and the revenue are treated as partly allowed

ITA 1920/MUM/2020[2009-10]Status: DisposedITAT Mumbai03 Feb 2023AY 2009-10

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

Section 115JSection 131Section 132(3)Section 132(4)Section 139(1)Section 143(1)Section 143(2)Section 153A

…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. 35 M/s. Lupin Limited 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 bi…

Eit Services India Private Limited, Bangalore vs. Deputy Commissioner of Income-Tax, Circle-2(1)(1), Bangalore

In the result, the appeal filed by assessee stands allowed

ITA 258/BANG/2022[2017-18]Status: DisposedITAT Bangalore04 Jan 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 258/Bang/2022 Assessment Year : 2017-18 M/S. Eit Services India Pvt. Ltd., The Deputy #39/40, Digital Park, Commissioner Of Electronic City Phase Income Tax, Ii, Circle – 2(1)(1), Hosur Road, Vs. Bangalore. Bangalore – 560 100. Pan: Aaacd4078L Appellant Respondent Assessee By : Shri Padam Chand Khincha, Ca Revenue By : Shri Praveen Karanth, Cit-Dr Date Of Hearing : 01-11-2022 Date Of Pronouncement : 04-01-2023 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against The Final Assessment Order Dated 14/02/2022 Passed By Nfac, Delhi For A.Y. 2017-18 On Following Grounds Of Appeal: “1. General Ground 1.1. The Orders Passed By Learned Additional / Joint / Deputy / Assistant Commissioner Of Income Tax/ Income- Tax Officer, National E-Assessment Centre, Delhi (Hereinafter Referred As "Ao" For Brevity), Learned Deputy Commissioner Of Income Tax (Tp) — 1(2)(1), Bangalore (Hereinafter Referred As "Tpo" For Brevity) & The Learned Dispute Resolution Panel - 1, Bengaluru (Hereinafter Referred As "Drp" For Brevity) ("Ao", "Tpo" & "Drp"

For Appellant: Shri Padam Chand Khincha, CAFor Respondent: Shri Praveen Karanth, CIT-DR
Section 37Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(TP)A No. 258/Bang/2022 Assessment Year : 2017-18 M/s. EIT Services India Pvt. Ltd., The Deputy #39/40, Digital Park, Commissioner of Electronic City Phase Income Tax, II, Circle – 2(1)(1), Hosur Road, Vs. Bangalore. Bangalore – 560 100. PAN: AAACD4078L APPELLANT RESPONDENT Assessee by : Shri Padam Chand Khincha, CA Revenue by : Shri Praveen Karanth, CIT-DR Date of Hearing : 01-11-2022 Date of Pronouncement : 04-01-2023 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present a…

Deputy Commissioner of Income-Tax, Circle - 8, Pune vs. M/S. Bajaj Finance Ltd, Pune

ITA 1722/PUN/2018[2014-15]Status: DisposedITAT Pune23 Dec 2022AY 2014-15

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Respondent: Assessee by Ms. Vasanti B. Patel
Section 143(3)Section 14ASection 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL BENCH “A”, PUNE BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA No.1394 &1722/PUN/2018 Assessment Year - 2014-15 Bajaj Finance Limited, The DCIT, Circle-8, 3rd Floor, Panchshil Tech Pratyaksha Kar Park, Plot No.43/1, 43/2, vs. Bhavan, Dr. 44/2, Viman Nagar, Ambedkar Road, Pune 411 014 Near Akurdi Railway PAN : AABCB1518L Station, Akurdi, Pune – 411 044. Appellant Respondent : Assessee by Ms. Vasanti B. Patel : Revenue by Shri Keyur Patel, CIT-DR : Date of hearing 09.12.2022 : Date of 23.12.2022 pronouncement ORDER PER SATBEER S…

Bajaj Finance Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 8, Pune

ITA 1394/PUN/2018[2014-15]Status: DisposedITAT Pune23 Dec 2022AY 2014-15

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Respondent: Assessee by Ms. Vasanti B. Patel
Section 143(3)Section 14ASection 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL BENCH “A”, PUNE BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA No.1394 &1722/PUN/2018 Assessment Year - 2014-15 Bajaj Finance Limited, The DCIT, Circle-8, 3rd Floor, Panchshil Tech Pratyaksha Kar Park, Plot No.43/1, 43/2, vs. Bhavan, Dr. 44/2, Viman Nagar, Ambedkar Road, Pune 411 014 Near Akurdi Railway PAN : AABCB1518L Station, Akurdi, Pune – 411 044. Appellant Respondent : Assessee by Ms. Vasanti B. Patel : Revenue by Shri Keyur Patel, CIT-DR : Date of hearing 09.12.2022 : Date of 23.12.2022 pronouncement ORDER PER SATBEER S…

DCIT, Circle-8 vs. M/S. Bajaj Finance Ltd. Pune, Akurdi Pune

ITA 819/PUN/2018[2013-14]Status: DisposedITAT Pune09 Dec 2022AY 2013-14

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

For Appellant: Shri Percy Pardiwala and Ms. Vasanti B. Patel
Section 14ASection 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA Nos.766 and 767/PUN/2018 Assessment Years : 2012-13 and 2013-14 Bajaj Finance Limited, Vs. DCIT, Circle-8, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respondent ITA Nos.818 and 819/PUN/2018 Assessment Years : 2012-13 and 2013-14 DCIT, Circle-8, Vs. Bajaj Finance Limited, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respon…

Deputy Commissioner of Income-Tax, Circle - 8, Pune vs. M/S. Bajaj Finanace Ltd, Pune

ITA 818/PUN/2018[2012-13]Status: DisposedITAT Pune09 Dec 2022AY 2012-13

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

For Appellant: Shri Percy Pardiwala and Ms. Vasanti B. Patel
Section 14ASection 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA Nos.766 and 767/PUN/2018 Assessment Years : 2012-13 and 2013-14 Bajaj Finance Limited, Vs. DCIT, Circle-8, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respondent ITA Nos.818 and 819/PUN/2018 Assessment Years : 2012-13 and 2013-14 DCIT, Circle-8, Vs. Bajaj Finance Limited, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respon…

Bajaj Finance Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 8, Pune

ITA 767/PUN/2018[2013-14]Status: DisposedITAT Pune09 Dec 2022AY 2013-14

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

For Appellant: Shri Percy Pardiwala and Ms. Vasanti B. Patel
Section 14ASection 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA Nos.766 and 767/PUN/2018 Assessment Years : 2012-13 and 2013-14 Bajaj Finance Limited, Vs. DCIT, Circle-8, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respondent ITA Nos.818 and 819/PUN/2018 Assessment Years : 2012-13 and 2013-14 DCIT, Circle-8, Vs. Bajaj Finance Limited, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respon…

Bajaj Finance Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 8, Pune

ITA 766/PUN/2018[2012-13]Status: DisposedITAT Pune09 Dec 2022AY 2012-13

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

For Appellant: Shri Percy Pardiwala and Ms. Vasanti B. Patel
Section 14ASection 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA Nos.766 and 767/PUN/2018 Assessment Years : 2012-13 and 2013-14 Bajaj Finance Limited, Vs. DCIT, Circle-8, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respondent ITA Nos.818 and 819/PUN/2018 Assessment Years : 2012-13 and 2013-14 DCIT, Circle-8, Vs. Bajaj Finance Limited, 3rd Floor, Panchshil Tech Park, Pune Plot No.43/1, 43/2, 44/2, Viman Nagar, Pune 411 014 PAN : AABCB1518L Appellant Respon…

Jt. CIT(OSD)-2(3)(1), Mumbai vs. M/S Tata Capital Ltd., Mumbai

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

ITA 2109/MUM/2019[2015-16]Status: DisposedITAT Mumbai05 Dec 2022AY 2015-16

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं. 7060/मुं/ 2017 ("न.व. 2014-15) आअसं. 1515/मुं/ 2019("न.व. 2015-16) Tata Capital Limited, 11Th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 Pan:Aadcp-9147-P ...... अपीलाथ" /Appellant बनाम Vs. The Assistant Commissioner Of Income-Tax, Circle – 2(3)(1), Room No.552, 5Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ..... ""तवाद"/Respondent आअसं. 61/मुं/ 2018 ("न.व. 2014-15) आअसं. 2109/मुं/ 2019("न.व. 2015-16) The Assistant Commissioner Of Income-Tax, Circle – 2(3)(1),/Jcit (Osd) 2(3)(1) Room No.552, 5Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ...... अपीलाथ" /Appellant बनाम Vs. Tata Capital Limited, 11Th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 Pan:Aadcp-9147-P ..... ""तवाद"/Respondent

For Respondent: Shri Prakash Mane
Section 14ASection 56(2)(viia)

…आयकर अपील"य अ"धकरण मुंबई पीठ “ई ”, मुंबई "ी "वकास अव"थी, "या"यक सद"य एवं "ी गगन गोयल, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ E ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI GAGAN GOYAL, ACCOUNTANT MEMBER आअसं. 7060/मुं/ 2017 ("न.व. 2014-15) आअसं. 1515/मुं/ 2019("न.व. 2015-16) Tata Capital Limited, 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 PAN:AADCP-9147-P ...... अपीलाथ" /Appellant बनाम Vs. The Assistant Commissioner of Income-tax, Circle – 2(3)(1), Room No.552, 5th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 0…

Tata Capital Limited, Mumbai vs. Assistant Commissioner of Income Tax 2(3)(1), Mumbai

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

ITA 1515/MUM/2019[2015-16]Status: DisposedITAT Mumbai05 Dec 2022AY 2015-16

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं. 7060/मुं/ 2017 ("न.व. 2014-15) आअसं. 1515/मुं/ 2019("न.व. 2015-16) Tata Capital Limited, 11Th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 Pan:Aadcp-9147-P ...... अपीलाथ" /Appellant बनाम Vs. The Assistant Commissioner Of Income-Tax, Circle – 2(3)(1), Room No.552, 5Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ..... ""तवाद"/Respondent आअसं. 61/मुं/ 2018 ("न.व. 2014-15) आअसं. 2109/मुं/ 2019("न.व. 2015-16) The Assistant Commissioner Of Income-Tax, Circle – 2(3)(1),/Jcit (Osd) 2(3)(1) Room No.552, 5Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ...... अपीलाथ" /Appellant बनाम Vs. Tata Capital Limited, 11Th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 Pan:Aadcp-9147-P ..... ""तवाद"/Respondent

For Respondent: Shri Prakash Mane
Section 14ASection 56(2)(viia)

…आयकर अपील"य अ"धकरण मुंबई पीठ “ई ”, मुंबई "ी "वकास अव"थी, "या"यक सद"य एवं "ी गगन गोयल, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ E ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI GAGAN GOYAL, ACCOUNTANT MEMBER आअसं. 7060/मुं/ 2017 ("न.व. 2014-15) आअसं. 1515/मुं/ 2019("न.व. 2015-16) Tata Capital Limited, 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 PAN:AADCP-9147-P ...... अपीलाथ" /Appellant बनाम Vs. The Assistant Commissioner of Income-tax, Circle – 2(3)(1), Room No.552, 5th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 0…

Tata Capital Ltd, Mumbai vs. DCIT 2(3)(1), Mumbai

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

ITA 7060/MUM/2017[2014-15]Status: DisposedITAT Mumbai05 Dec 2022AY 2014-15

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं. 7060/मुं/ 2017 ("न.व. 2014-15) आअसं. 1515/मुं/ 2019("न.व. 2015-16) Tata Capital Limited, 11Th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 Pan:Aadcp-9147-P ...... अपीलाथ" /Appellant बनाम Vs. The Assistant Commissioner Of Income-Tax, Circle – 2(3)(1), Room No.552, 5Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ..... ""तवाद"/Respondent आअसं. 61/मुं/ 2018 ("न.व. 2014-15) आअसं. 2109/मुं/ 2019("न.व. 2015-16) The Assistant Commissioner Of Income-Tax, Circle – 2(3)(1),/Jcit (Osd) 2(3)(1) Room No.552, 5Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ...... अपीलाथ" /Appellant बनाम Vs. Tata Capital Limited, 11Th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 Pan:Aadcp-9147-P ..... ""तवाद"/Respondent

For Respondent: Shri Prakash Mane
Section 14ASection 56(2)(viia)

…आयकर अपील"य अ"धकरण मुंबई पीठ “ई ”, मुंबई "ी "वकास अव"थी, "या"यक सद"य एवं "ी गगन गोयल, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ E ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI GAGAN GOYAL, ACCOUNTANT MEMBER आअसं. 7060/मुं/ 2017 ("न.व. 2014-15) आअसं. 1515/मुं/ 2019("न.व. 2015-16) Tata Capital Limited, 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel,Mumbai – 400 013 PAN:AADCP-9147-P ...... अपीलाथ" /Appellant बनाम Vs. The Assistant Commissioner of Income-tax, Circle – 2(3)(1), Room No.552, 5th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 0…

Global E-Business Operations Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-5(3)(2), Bangalore

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

ITA 174/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Nov 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Padam Chand Khincha, A.RFor Respondent: Shri Harinder Kumar, D.R
Section 144(3)Section 37Section 92C

…IT(TP)A No.174/Bang/2022 M/s. Global E-Business Operations Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER IT(TP)A No.174/Bang/2022 Assessment Year: 2017-18 M/s. Global E-Business Operations Pvt. Ltd. 1st Floor, Hewlett Packard Deputy Commissioner Enterprise of Income-tax Sy.No.192, Whitefield Road Vs. Circle 5(3)(2) Mahadevpura Post Bangalore Bangalore PAN NO : AABCG2843D APPELLANT RESPONDENT Appellant by : Shri Padam Chand Khincha, A.R. Respondent by : Shri Harinder Kumar, D.R. Dat…