DIT vs. Morgan Stanley and Co. Inc. 292 ITR 416 (SC), E-Funds IT Solution Inc. v. DIT

255 Taxmann 72Supreme Court of India2018#9598 most cited

What is DIT vs. Morgan Stanley and Co. Inc. 292 ITR 416 (SC), E-Funds IT Solution Inc. v. DIT authority for?

The case is cited as authority for the treatment of advertisement revenue as business income taxable in India.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2020 to 2022.

Also referred to as

DIT vs. Morgan Stanley · Advertisement revenue · Business income · India taxation · Income Tax Act

Judgments citing DIT vs. Morgan Stanley and Co. Inc. 292 ITR 416 (SC), E-Funds IT Solution Inc. v. DIT

Damco International Bv, Mumbai vs. Deputy Commissioner of Income Tax (It)-2(1)(2), Mumbai

In the result, appeal by the assessee is partly allowed

ITA 7447/MUM/2017[2013-14]Status: DisposedITAT Mumbai22 Aug 2022AY 2013-14
For Appellant: Shri Poras Kaka, Sr.Advocate with Shri Manish KanthFor Respondent: S/ Shri B.K.Bagchi & Milind Chavan
Section 143(3)Section 234ASection 244ASection 271(1)(c)Section 92C

…आयकर अपील"य अ"धकरण मुंबई पीठ “आई ”, मुंबई "ी "वकास अव"थी, "या"यक सद"य एवं "ी एम बालगणेश, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ I ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M. BALAGANESH, ACCOUNTANT MEMBER आअसं. 7447/मुं/ 2017 ("न.व. 2013-14) Damco International BV C/o.Damco India Private Limited 13th Floor, Tower A, Urmi Estate Ganpatrao Kadam Marg, Lower Parel, Mumbai 400 013. PAN:AAECD-6659-B ...... अपीलाथ" /Appellant बनाम Vs. Deputy Commissioner of Income Tax (International Taxation)-2(1)(2), Room No.1713, 17th Floor, Air India Building, Nariman Point, Mumb…

Ngc Network Asia Llc, Mumbai vs. DCIT (It) RG 3(3)(1), Mumbai

In the result, the assessee appeal is partly allowed

ITA 1178/MUM/2015[2010-11]Status: DisposedITAT Mumbai12 Jul 2021AY 2010-11

Bench: Shri Shamim Yahya & Shri Pavan Kumar Gadale

For Appellant: Shri Porus Kaka, ARFor Respondent: Shri S S Iyengar, DR
Section 143(2)Section 144C(13)Section 144C(5)Section 234DSection 271(1)(c)Section 271ASection 271BSection 92C

…ntra the LD.DR relied on the orders of lower authorities. M/s. NGC Network Asia LLC. ITA.no1178/M/2015, ITA.no 6677,&6678 /M/2018 & ITA.no7142/M/2019 The Ld. AR also relied on the fallowing judicial decisions as under; 1. Honda Motor Co. Ltd. Vs. ACIT (2018) 255 Taxmann 72 (SC). 2. DIT Vs Morgan Stanley [2007] 294 ITR 416 (SC) 3. ADIT Vs. E-Funds IT Solutions Inc, 399 ITR 34 (SC). 4. Set Satellite (Singapore) Pte Ltd. Vs. DDIT [2008] 307 ITR 205, Bom HC. 5. DIT Vs. B4U International Holdings Ltd [2015] 374 ITR 453, Bom HC 6. DIT Vs. Delmas France [2015] 53 Taxmann.com 294 Bom HC 7. DIT Vs BBC Worldwide Ltd, 203…

Ricardo Uk Ltd., New Delhi vs. DCIT, Circle- 3(1)(1), International Taxation, New Delhi

ITA 416/DEL/2020[2016-17]Status: DisposedITAT Delhi17 Feb 2021AY 2016-17

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

Ricardo Uk Ltd., New Delhi vs. DCIT, Circle- 3(1)(1), International Taxation, New Delhi

ITA 4756/DEL/2019[2015-16]Status: DisposedITAT Delhi17 Feb 2021AY 2015-16

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

Ricardo Uk Ltd., New Delhi vs. DCIT, Circle- 3(1)(1), International Taxation, New Delhi

ITA 4911/DEL/2018[2014-15]Status: DisposedITAT Delhi17 Feb 2021AY 2014-15

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

Ricardo Uk Limited, New Delhi vs. DCIT, Intl. Taxation, Circle- 3(1)(1), New Delhi

ITA 4910/DEL/2018[2010-11]Status: DisposedITAT Delhi17 Feb 2021AY 2010-11

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

Ricardo Uk Limited, New Delhi vs. DCIT, Intl. Taxation, Circle- 3(1)(1), New Delhi

ITA 4909/DEL/2018[2009-10]Status: DisposedITAT Delhi17 Feb 2021AY 2009-10

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

Ricardo Uk Ltd., New Delhi vs. DCIT, Circle- 3(1)(1), International Taxation, New Delhi

ITA 3969/DEL/2017[2013-14]Status: DisposedITAT Delhi17 Feb 2021AY 2013-14

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

Ricardo Uk Ltd., New Delhi vs. DCIT, Circle- 3(1)(1), International Taxation, New Delhi

ITA 3968/DEL/2017[2012-13]Status: DisposedITAT Delhi17 Feb 2021AY 2012-13

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

Ricardo Uk Limited, New Delhi vs. DCIT, Intl. Taxation, Circle- 3(1)(1), New Delhi

ITA 3967/DEL/2017[2011-12]Status: DisposedITAT Delhi17 Feb 2021AY 2011-12

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri Sanjay Kumar, Senior DR
Section 144C(3)Section 147Section 9(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.4909/Del./2018 (ASSESSMENT YEAR : 2009-10) ITA No.4910/Del./2018 (ASSESSMENT YEAR : 2010-11) ITA No.3967/Del./2017 (ASSESSMENT YEAR : 2011-12) ITA No.3968/Del./2017 (ASSESSMENT YEAR : 2012-13) ITA No.3969/Del./2017 (ASSESSMENT YEAR : 2013-14) ITA No.4911/Del./2018 (ASSESSMENT YEAR : 2014-15) ITA No.4756/Del./2019 (ASSESSMENT YEAR : 2015-16) ITA No.416/Del./2020 (ASSESSMENT YEAR : 2016-17) M/s. Ricardo UK Limited, vs. DCIT, C/o…

M/S. Ngc Network Asia, Llc, Mumbai vs. The ITO (It) 3(2), Mumbai

In the result, appeal of the assessee for A

ITA 1662/MUM/2008[2004-2005]Status: DisposedITAT Mumbai30 Dec 2020AY 2004-2005

Bench: Shri M.Balaganesh, Am & Shri Ram Lal Negi, Jm M/S.Ngc Network Asia Llc Vs. Dy. Director Of Income Tax C/O. Dsk Legal (International Tax)– 3(2) 4Th Floor, Express Towers Scindia House Nariman Point Ballard Estate Mumbai – 400 021 Mumbai – 400 038 Pan/Gir No.Aabcn3136G (Appellant) .. (Respondent) M/S.Ngc Network Asia Llc Vs. Assistant Director Of C/O. Ngc Network(India) Income Tax (International Private Limited Tax)– 3(2) 1St Floor, Scindia House Star House, Dr. E. Moses Road, Mahalaxmi Ballard Estate Mumbai – 400 001 Mumbai – 400001 Pan/Gir No.Aabcn3136G (Appellant) .. (Respondent) M/S.Ngc Network Asia Llc Vs. The Income Tax Officer C/O. Ngc Network(India) (International Tax) 3(1) Private Limited Scindia House Star House, Dr. E. Moses Ballard Estate Road, Mahalaxmi Mumbai – 400001 Mumbai – 400 001 Pan/Gir No.Aabcn3136G (Appellant) .. (Respondent) M/S. Ngc Network Asia Ltd., M/S.Ngc Network Asia Llc Vs. The Income Tax Officer C/O. Ngc Network(India) (International Tax) 3(1) Private Limited Scindia House Star House, Dr. E. Moses Ballard Estate Road, Mahalaxmi Mumbai – 400038 Mumbai – 400 001 Pan/Gir No.Aabcn3136G (Appellant) .. (Respondent) & M/S.Ngc Network Asia Llc Vs. The Income Tax Officer C/O. Ngc Network(India) (International Tax) 3(2) Private Limited Scindia House Star House, Dr. E. Moses Ballard Estate Road, Mahalaxmi Mumbai – 400038 Mumbai – 400 001 Pan/Gir No.Aabcn3136G (Appellant) .. (Respondent) Assessee By Shri Porus Kaka Revenue By Shri Shreenivasaraghava Iyengar Date Of Hearing 18/12/2020 Date Of Pronouncement 30/12/2020

Section 143(3)Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT), ‘I‘ BENCH MUMBAI BEFORE SHRI M.BALAGANESH, AM & SHRI RAM LAL NEGI, JM M/s.NGC Network Asia LLC Vs. Dy. Director of Income Tax C/o. DSK Legal (International Tax)– 3(2) 4th Floor, Express Towers Scindia House Nariman Point Ballard Estate Mumbai – 400 021 Mumbai – 400 038 PAN/GIR No.AABCN3136G (Appellant) .. (Respondent) M/s.NGC Network Asia LLC Vs. Assistant Director of C/o. NGC Network(India) Income Tax (International Private Limited Tax)– 3(2) 1st Floor, Scindia House Star House, Dr. E. Moses Road, Mahalaxmi Ballard Estate Mumbai – 400 001 Mumbai – 400001 P…