CIT v. Vaibhav Gems Ltd.

ACIT Central Circle 8(3), Mumbai vs. Rosy Blue (India) Private Limited, Mumbai

In the result, the appeal of the Revenue is partly allowed in terms indicated above

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI ARUN KHODPIA, ACCOUNTANT MEMBER ACIT Central Circle Vs. Rosy Blue (India) 8(3), Mumbai Private Limited 1608-09, Prasad Chambers Tata Road No.2 Opera House, Girgaon S.O. Mumbai- 400 004 PAN/GIR No.AACCR2413B (Appellant) .. (Respondent) Assessee by Shri Nitesh Joshi a/w. Shri Ashwin Kashinath Revenue by Shri Aditya Rai, SR. DR Date of Hearing 13/08/2025 Date of Pronouncement 29/08/2025 आदेश / O R D E R PER AMIT SHUKLA (J.M): The present appeal has been filed by the Revenue against the order dated 28/04/2025…

Rosy Blue (India) Private Limited, Mumbai vs. Assistant Commissioner of Income Tax Central Circle 8(3), Mumbai

In the result, the appeal of the assessee is partly allowed

Bench: Narendra Kumar Billaiya & Rahul Chaudharyassessment Year: 2021-22 Rosy Blue (India) Assistant Private Limited Commissioner Of 1608/09, Income Tax, Central Prasad Chambers, Circle 8(3) Vs. Tata Road No.2, 659, 6Th Floor, Opera House, Aayakar Bhawan, Mumbai- 400004. Maharishi Karve Marg, Pan: Aaccr2413B Mumbai- 400020. Appellant : Respondent

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND RAHUL CHAUDHARY, JUDICIAL MEMBER Assessment Year: 2021-22 Rosy Blue (India) Assistant Private Limited Commissioner of 1608/09, Income Tax, Central Prasad Chambers, Circle 8(3) Vs. Tata Road No.2, 659, 6th floor, Opera House, Aayakar Bhawan, Mumbai- 400004. Maharishi Karve Marg, PAN: AACCR2413B Mumbai- 400020. Appellant : Respondent Present for: Assessee by : Shri Nitesh Joshi & P. P. Bhandari Revenue by : Shri Asif Karmali (SR. D.R.) Date of Hearing : 27.11.2024 Date of Pronouncement : 27.11.2024 O R D E…

Viacom 18 Media P.Ltd, Mumbai vs. Addl CIT 11(1), Mumbai

In the result, assessee‟s appeal for A

Bench: Shri C.N. Prasad & Shri S. Rifaur Rahman

…he decision of the Hon‟ble Rajasthan High Court in CIT v/s Vaibhav Gems Ltd. [2017] 88 taxmann.com 12 (Raj.), against which a Special Leave Petition was filed by the Revenue which was dismissed by the Hon'ble Supreme Court in CIT v/s Vaibhav Gems Ltd., [2018] 259 Taxmann 130 (SC). 197. The learned Departmental Representative supported the orders of the authorities below. 198. Having considered the submissions of the learned A.R. appearing for the parties, we find that this issue has been decided by us vide ground no.8, raised by the assessee in its appeal being ITA no.2055/Mum./2014, for the assessment year 200…

Rosy Blue (India) Pvt. Ltd., Mumbai vs. DCIT Cent. Cir. 46 (Now DCIT - CC -8(3), Mumbai

In the result, appeal of the assessee is partly allowed

…ncome on account of interest free loan given to foreign subsidiary. We further find that the special leave petition preferred by the Revenue before the Hon’ble Apex Court against this judgement has been dismissed by the Hon’ble Apex Court which is reported in 259 Taxmann 130 (SC). When the issue is already covered in assessee’s own case by the order of this Tribunal in subsequent year i.e. M/s. Rosy Blue (India) Pvt. Ltd., A.Y.2014-15 on the very same interest free loan transaction given to AE, there is no need to take a divergent view by this Tribunal for the year under consideration. We find that this Tribunal…