CIT v. JSW Energy Limited

60 Taxmann.com 303High Court2015#2830 most cited

What is CIT v. JSW Energy Limited authority for?

For computing book profits under Section 115JB, the Assessing Officer cannot make disallowance under Section 14A, as the power to adjust net profit is limited to what is explicitly provided in the Explanation to Section 115J/115JB.

42

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. JSW Energy Limited · Section 115JB · Section 14A · book profits · MAT · disallowance under Section 14A · Assessing Officer jurisdiction · net profit adjustment · computation of book profits · Explanation to Section 115J

Also reported as

379 ITR 36

Sections most often in play

Section 115JBSection 14ASection 8DSection 201(1A)Section 234CSection 250Section 37(1)Section 10(2A)

Issues it is cited on

section 8d(2)(ii)section 8dsection 14a(1)section 115jastrategic investmentsection 119(2)transfer of capital assetsection 119(2)(b)section 139(5)section 234cbook profitssection 10(34)

Judgments citing CIT v. JSW Energy Limited

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

The appeal is dismissed

ITA 2037/KOL/2019[2015-16]Status: DisposedITAT Kolkata12 Jan 2026AY 2015-16

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 14ASection 250Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C' BENCH, KOLKATA Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA Nos.: 1246, 1247, 1248 & 2037/KOL/2019 Assessment Years: 2012-13, 2013-14, 2014-15 & 2015-16 D.C.I.T Cir-10(1), Kolkata Vs. M/s. Eureka Forbes Ltd. (Appellant) (Respondent) PAN: AAACE5767F Appearances: Department represented by Assessee represented by Date of concluding the hearing Date of pronouncing the order : Praveen Kishore, CIT (DR). : Dr. Samir Chakrborty, AR and Abhijit Biswash, AR. : 15-October-2025 : 12-January-2026 ORDER PER RAKESH MISHRA, ACCOUN…

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

The appeal is dismissed

ITA 1247/KOL/2019[2013-14]Status: DisposedITAT Kolkata12 Jan 2026AY 2013-14

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 14ASection 250Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C' BENCH, KOLKATA Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA Nos.: 1246, 1247, 1248 & 2037/KOL/2019 Assessment Years: 2012-13, 2013-14, 2014-15 & 2015-16 D.C.I.T Cir-10(1), Kolkata Vs. M/s. Eureka Forbes Ltd. (Appellant) (Respondent) PAN: AAACE5767F Appearances: Department represented by Assessee represented by Date of concluding the hearing Date of pronouncing the order : Praveen Kishore, CIT (DR). : Dr. Samir Chakrborty, AR and Abhijit Biswash, AR. : 15-October-2025 : 12-January-2026 ORDER PER RAKESH MISHRA, ACCOUN…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- V (I), KOLKATA vs. BIRLA CORPORATION LIMITED, BIRLA BUILDING

In the result, both the appeals of the revenue is dismissed, as also the cross objection filed by the assessee for both the years

ITA 1024/KOL/2023[2016-17]Status: DisposedITAT Kolkata24 Dec 2024AY 2016-17

Bench: SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 115JSection 14ASection 250Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH” KOLKATA SHRI SONJOY SARMA, JUDICIAL MEMBER SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No. 1024/Kol/2023 Assessment Year: 2016-17 Deputy Commissioner of Income Tax, Circle V(1), Kolkata Aayakar Bhawan, 8th Floor, P-7 Chowringhee Square, Kolkata - 700069 .....................…...…………….... Appellant vs. Birla Corporation Limited, 9/1 R.N. Mukherjee Road, Birla Building, 3rd Floor, Kolkata - 700001 [PAN: AABCB2075J] ...............…..….................... Respondent C.O. No. 04/Kol/2024 (Arising out of ITA No. 1024/Kol/2023) Assessment Year: 2016-17 Birla Corpo…

BSE LIMITED,FORT , MUMBAI vs. DCIT CIRCLE 2(1)(1), AAYKAR BHAVAN

In the result, assessee’s appeal ITA No

ITA 2662/MUM/2024[2018-19]Status: DisposedITAT Mumbai02 Dec 2024AY 2018-19

Bench: SMT MS. PADMAVATHY S (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 115JSection 143(2)Section 14ASection 201Section 250Section 37(1)

…the jurisdiction to go behind the net profit shown in the Profit & Loss Account except to the extent provided in Explanation to Section 115J. Similar view has been expressed by our jurisdictional Bombay High Court rendered in CIT Vs. JSW Energy Limited [2015 60 Taxmann.com 303], CIT v. Essar Teleholdings Ltd. [ITA No. 438 of 2012, dated 07/08/2014] & CIT Vs. Bengal Finance & Investments Pvt. Limited [ITA No. 337 of 2013 dated 10/02/2015). Therefore, respectfully following the catena of judgment in assessee's favour, we hold that adjustment of disallowance u/s 14A was not required to be made in Book Profits for t…

ACIT-2(1)(1), MUMBAI vs. BSE LTD, MUMBAI

In the result, assessee’s appeal ITA No

ITA 2440/MUM/2024[2018-19]Status: DisposedITAT Mumbai02 Dec 2024AY 2018-19

Bench: SMT MS. PADMAVATHY S (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 115JSection 143(2)Section 14ASection 201Section 250Section 37(1)

…the jurisdiction to go behind the net profit shown in the Profit & Loss Account except to the extent provided in Explanation to Section 115J. Similar view has been expressed by our jurisdictional Bombay High Court rendered in CIT Vs. JSW Energy Limited [2015 60 Taxmann.com 303], CIT v. Essar Teleholdings Ltd. [ITA No. 438 of 2012, dated 07/08/2014] & CIT Vs. Bengal Finance & Investments Pvt. Limited [ITA No. 337 of 2013 dated 10/02/2015). Therefore, respectfully following the catena of judgment in assessee's favour, we hold that adjustment of disallowance u/s 14A was not required to be made in Book Profits for t…

DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI, MUMBAI vs. RADHA MADHAV INVESTMENTS PRIVATE LIMITED, MUMBAI

In the result the appeal is partly allowed

ITA 3341/MUM/2023[2017-18]Status: DisposedITAT Mumbai04 Jul 2024AY 2017-18
Section 10Section 10(34)Section 115JSection 143(1)Section 143(2)Section 14ASection 250

…the jurisdiction to go behind the net profit shown in the Profit & Loss Account except to the extent provided in Explanation to Section 115J. Similar view has been expressed by our jurisdictional Bombay High Court rendered in CIT Vs. JSW Energy Limited [2015 60 Taxmann.com 303], CIT v. Essar Teleholdings Ltd. [ITA No. 438 of 2012, dated 07/08/2014] & CIT Vs. Bengal Finance & Investments Pvt. Limited [ITA No. 337 of 2013 dated 10/02/2015). Therefore, respectfully following the catena of judgment in assessee's favour, we hold that adjustment of disallowance u/s 14A was not required to be made in Book Profits for t…

SICOM LTD ,MUMBAI vs. DY COMMISSIONER OF INCOME TAX CIRCLE 3(3)(1), MUMBAI

In the result, the appeal filed by the assesee is partly allow for statistical purpose and the appeal filed by the revenue is allowed for statistical purposes

ITA 1694/MUM/2023[2013-2014]Status: DisposedITAT Mumbai22 Nov 2023AY 2013-2014

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale, Judicialmember Sicom Ltd, Vs. Dy Commissioner Of Solitaire Corporate Income Tax Circle Park, Bldg No.04, 3(3)(1), Chakala, Andheri(E), 6Th Floor, Room No. Mumbai-400093. 609,Aayakar Bhavan, Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent) Dy Commissioner Of Vs. Sicom Ltd, Income Tax Circle Solitaire Corporate Park, 3(3)(1), Bldg No.04, Chakala, 6Th Floor, Room No. Andheri(E), 609,Aayakar Bhavan, Mumbai-400093. Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent)

Section 10(34)Section 14ASection 234BSection 36(1)(ii)Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, “G” BENCH MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIALMEMBER Sicom Ltd, Vs. Dy Commissioner of Solitaire Corporate Income Tax Circle Park, Bldg No.04, 3(3)(1), Chakala, Andheri(E), 6th Floor, Room No. Mumbai-400093. 609,Aayakar Bhavan, Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.PAN/GIR No. AAACS5524J (अपीलाथ"/Applicant) (""यथ"/Respondent) Dy Commissioner of Vs. Sicom Ltd, Income Tax Circle Solitaire Corporate Park, 3(3)(1), Bldg No.04, Chakala, 6th Floor, Room No. Andheri(E), 609,Aayakar Bhavan, Mumbai-400093. M…

TATA STEEL LIMITED ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX -2(3)(1), MUMBAI

In the result, appeal of the assessee for AY 2017-18 is partly allowed

ITA 2374/MUM/2022[2017-18]Status: DisposedITAT Mumbai20 Feb 2023AY 2017-18

Bench: Shri Vikas Awasthy& Shri M Balaganeshvkvkla-1340@Eaqcbz@2021¼Fu-Oa- 2016&17½ Vkvkla-2374@Eaqcbz@2022 ¼Fu-Oa- 2017&18½ Tata Steel Limited Bombay House, 24, Homi Mody Street Fort Mumbai-400 001 ..... Vihykfkhz/Appellant Pan No. Aaact2803M Cuke Vs. Additional/Joint/Deputy/Assistant Commissioner Of Income Tax/Income-Tax Officer, National E-Assessment Centre, ..... Izfroknh/Respondent Delhi

For Appellant: Shri Nishant Thakkar &For Respondent: Shri Biswanath Das CIT DR
Section 115JSection 143(3)Section 14ASection 14A(2)Section 263Section 36(1)(iii)Section 80GSection 90

…ssue is squarely covered by the decision of Special Bench in the case of Vireet Investments 165 ITD 27 P a g e | 5 ITA NO. 2374/MUM/2022(A.Y.2017-18) TATA STEEL LTD (SB) and the decision of Hon’ble jurisdictional High Court in the case of JSW Energy Limited 379 ITR 36. 4.7 In ground no. 10 of appeal, the learned AR submits, that admittedly the assessee had not claimed deduction of interest on PNCD in computation of Book Profits u/s 115JB of the Act. The claim was made for the first time in assessment proceedings before the AO. The AO rejected the claim of asssessee, by placing reliance on the decision of Hon’bl…

ACIT CENT. CIR 3(3) , MUMBAI vs. M/S. AYM SYNTEX LTD, MUMBAI

ITA 2550/MUM/2021[2014-15]Status: DisposedITAT Mumbai29 Sept 2022AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…ng the book profits as per added while computing the book profits as per 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well-settled proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker with the…

ACIT- CC -3, MUMBAI vs. AYM SYNTEX LTD., MUMBAI

ITA 2549/MUM/2021[2015-16]Status: DisposedITAT Mumbai29 Sept 2022AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…ng the book profits as per added while computing the book profits as per 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well-settled proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker with the…

AYM SYNTEX LTD. (FORMERLY KNOWN AS M/S. WELSPUN SYNTEX LTD.),MUMBAI vs. DCIT- CC- 3(4), MUMBAI

ITA 2342/MUM/2021[2015-16]Status: DisposedITAT Mumbai29 Sept 2022AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…ng the book profits as per added while computing the book profits as per 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well-settled proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker with the…

M/S. AYM SYNTEX LTD (FORMERLY KNOWN AS M/S. WELSPUN SYNTEX LTD,MUMBAI vs. DCIT -CENT CIR-3(4) , MUMBAI

ITA 2341/MUM/2021[2014-15]Status: DisposedITAT Mumbai29 Sept 2022AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…ng the book profits as per added while computing the book profits as per 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well-settled proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker with the…

AYM SYNTEX LTD.(FORMERLY KNOWN AS M/S. WELSPUN SYNTEX LTD.),MUMBAI vs. DCIT- CC- 3(3), MUMBAI

ITA 2340/MUM/2021[2013-14]Status: DisposedITAT Mumbai29 Sept 2022AY 2013-14

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…ng the book profits as per added while computing the book profits as per 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd 115JB, the Hon'ble ITAT, Mumbai in the case of JSW Energy Ltd (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well (60 Taxmann.com 303), observed that it is a well-settled proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker proposition of law that the AO does not have much scope to tinker with the…

M/S ATLANTA LTD,MUMBAI vs. DCIT CIRCLE- 9 (1)(2), MUMBAI

In the result, Revenue‟s appeal (ITA No

ITA 7749/MUM/2019[2016-17]Status: DisposedITAT Mumbai04 Jul 2022AY 2016-17
For Appellant: Shri Vijay MehtaFor Respondent: Shri Sunil Jha
Section 115JSection 143(3)Section 14ASection 250

…that CIT(A) had decided this issue in favour of the Assessee by relying upon the decision of Special Bench of the Tribunal in the case of Vireet Investment (P.) Ltd (supra) and the judgment of jurisdictional High Court in the case of CIT Vs JSW Energy Ltd.: 379 ITR 36 (Bombay) and holding that disallowance under Section 14A of the Act read with Rule 8D of the Rules cannot be added while computing book profits in terms of Section 115JB of the Act. In view of the aforesaid, we do not find any infirmity in the order passed by the CIT(A) and are not inclined to interfere with the same on this issue. Accordingly, Gr…

DY CIT 9 (1)(2), MUMBAI vs. ATLANTA LIMITED, MUMBAI

In the result, Revenue‟s appeal (ITA No

ITA 7695/MUM/2019[2016-17]Status: DisposedITAT Mumbai04 Jul 2022AY 2016-17
For Appellant: Shri Vijay MehtaFor Respondent: Shri Sunil Jha
Section 115JSection 143(3)Section 14ASection 250

…that CIT(A) had decided this issue in favour of the Assessee by relying upon the decision of Special Bench of the Tribunal in the case of Vireet Investment (P.) Ltd (supra) and the judgment of jurisdictional High Court in the case of CIT Vs JSW Energy Ltd.: 379 ITR 36 (Bombay) and holding that disallowance under Section 14A of the Act read with Rule 8D of the Rules cannot be added while computing book profits in terms of Section 115JB of the Act. In view of the aforesaid, we do not find any infirmity in the order passed by the CIT(A) and are not inclined to interfere with the same on this issue. Accordingly, Gr…

GUJARAT APOLLO INDUSTRIES LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 681/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad25 Mar 2022AY 2014-15

Bench: Ms.Annapurna Gupta & T.R. Senthil Kumarasstt.Year : 2014-15 The Dcit, Cir.2(1)(1) Gujarat Apollo Industries Ltd. Ahmedabad. ‘Apollo House’ Rashmi Society Nr.Mithakhali Six Roads Navrangpura Ahmedabad 380 009. Pan : Aaacg 7248 P

For Respondent: Shri Rameshkumar L. Sadhu
Section 115JSection 143(1)Section 143(3)Section 14ASection 195(2)Section 40

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘B’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD (Conducted through Virtual Court) BEFORE MS.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND T.R. SENTHIL KUMAR, JUDICIAL MEMBER Asstt.Year : 2014-15 The DCIT, Cir.2(1)(1) Gujarat Apollo Industries Ltd. Ahmedabad. ‘Apollo House’ Rashmi Society Nr.Mithakhali Six Roads Navrangpura Ahmedabad 380 009. PAN : AAACG 7248 P (Appellant) (Responent) : Shri M.K. Patel, Adv. Assessee by Revenue by : Shri Rameshkumar L. Sadhu, Sr.DR सुनवाई क" तार"ख/Date of Hearing: 09/02/2022 घोषणा क" तार"ख /Date of Pronouncement: 25/03/20…

DCIT, CEN. CIRCLE-4(1), MUMBAI, MUMBAI vs. M/S. RUNWAL DEVELOPERS PVT. LTD., MUMBAI

ITA 6102/MUM/2019[2016-17]Status: DisposedITAT Mumbai06 Sept 2021AY 2016-17

Bench: Shri Pramod Kumar, Vp & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 6102/Mum/2019 (निर्धारण वर्ा / Assessment Year:2016-17) Dcit, Cen, Circle-4(10) बिधम/ M/S. Runwal Developers Room No.1918, 19Th Floor, Pvt. Ltd. Vs. 1St Floor, Runwal Chambers, Air India Building, Nariman Point, Mumbai-400021. First Road, Chembur, Mumbai-400022. आयकर अपील सं/ I.T.A. No. 5294/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2016-17) M/S. Runwal Developers Pvt. बिधम/ Dcit, Cen, Circle-4(10) Room No.1918, 19Th Floor, Ltd. Vs. 1St Floor, Runwal Chambers, Air India Building, Nariman First Road, Chembur, Point, Mumbai-400021. Mumbai-400022. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0395J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rishabh Shah Revenue By: Shri Bharat Andhle (Dr) सुनवाई की तारीख / Date Of Hearing: 22/06/2021 घोषणा की तारीख /Date Of Pronouncement: 06/09/2021 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 20.06.2019 Passed By The Commissioner Of Income Tax (Appeals) -52, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2016-17. Ita. No.6102/Mum/2019 2. The Revenue Has Filed The Present Appeal Against The Order Dated 20.06.2019 Passed By The Commissioner Of Income Tax (Appeals) -52, 5294/M/2019 A.Y. 2016-17 Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2016- 17. 3. The Revenue Has Raised The Following Grounds: -

For Appellant: Shri Rishabh ShahFor Respondent: Shri Bharat Andhle (DR)
Section 115JSection 139(9)Section 143(2)Section 144Section 14A

…dicial decisions. 7.2 While adjudicating the issue as to whether the disallowance computed u/s 14A as per the regular provisions of the I T Act can be added while computing the book profits as per 115JB, the Hon'ble 'TAT, Mumbai in the case of JSW Energy Ltd (60 Taxmann.com 303), observed 11 5294/M/2019 A.Y. 2016-17 that it is a well-settled proposition of law that the AO does not have much scope to tinker with the accounts of the assessee which have been prepared in accordance with the provisions of the Companies Act, 1956 and which have been approved by the…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE vs. M/S. BRINDAVAN BEVERAGES PRIVATE LIMITED, BANGALORE

In the result appeal filed by revenue stands dismissed

ITA 2508/BANG/2019[2008-09]Status: DisposedITAT Bangalore08 Mar 2021AY 2008-09

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2008-09

For Appellant: Shri Pradeep Kumar, CIT(DR)For Respondent: Shri V Srinivasan, Advocate
Section 115Section 132Section 143(2)Section 143(3)Section 153ASection 2Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2008-09 The Dy. Commissioner of M/s Brindavan Beverages Income-Tax, Pvt. Ltd., Circle-1(1)(2), No.5/3, Jayamahal Bengaluru. Vs. Extension 1st Main Road, Bengaluru-560 027. PAN : AAACB 7390 R APPELLANT RESPONDENT Assessee by : Shri Pradeep Kumar, CIT(DR) Revenue by : Shri V Srinivasan, Advocate Date of Hearing : 08-02-2021 Date of Pronouncement : 08-03-2021 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal has been filed by revenue against orde…

FISERV INDIA PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE-9(1), NEW DELHI

The appeal is dismissed

ITA 6583/DEL/2019[2013-14]Status: DisposedITAT Delhi03 Jul 2020AY 2013-14

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishifiserv India Private Limited, Vs. Acit, Regus Elegance, Level-2, Jasola Circle-9(1), District Centre, Old Mathura New Delhi Road, Delhi Pan: Aaccr0787L (Appellant) (Respondent)

For Appellant: Shri Sachit Jolly, AdvFor Respondent: Ms. Ashima Neb, Sr. DR
Section 115JSection 143Section 154Section 234B

…ct, which could not have been visualized by the assessee, so interest u/s 234B cannot be charged, as there is no fault of the assessee on this account. He further referred to the decision of the honourable Bombay High Court in CIT versus JSW energy Ltd (2015) 379 ITR 36 (BOM) wherein it has been held that due to the retrospective effect from 1-4 -2001 u/s 115JB of the act interest would not be levied u/s 234B of the act. He therefore submitted that both these decisions support the case of the assessee and therefore the interest charged by the learned AO and confirmed by the learned CIT – A deserves to be deleted.…

DCIT (LTU-2), MUMBAI vs. RELIANCE INDUSTRIES LTD., MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 7499/MUM/2018[2005-06]Status: DisposedITAT Mumbai05 Feb 2020AY 2005-06

Bench: Shri Saktijit Dey & Shri G. Manjunathadcit(Ltu-2) Vs. Reliance Industries Ltd. 29Th Floor, Center-1 3Rd Floor, World Trade Center Maker Chambers Iv, Cuffe Parade Nariman Point Mumbai-400 005 Mumbai-400 021

Section 115JSection 234BSection 80H

…d that 234B interest shall not be levied on the addition made on account of retrospective amendment to the Act. He, further submitted that this issue is also covered by the decision of Hon’ble Bombay High Court, in the case of CIT vs JSW Energy Limited (2015) 379 ITR 36, where it was held that where, the assessee computed book profit, as per prevailing law, no interest u/s 234B could be levied, consequent to inclusion of various items, while computing books profit, as per Explanation to section 115JB, which has been brought on statute by the Finance Act, 2008 with retrospective effect from 01/04/2001. 7. We have…

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CIT v. JSW Energy Limited (60 Taxmann.com 303) — Cited in 42 Judgments | BharatTax