Garware Wall Ropes Ltd. v. ACIT

65 SOT 86Income Tax Appellate Tribunal2014#1532 most cited

What is Garware Wall Ropes Ltd. v. ACIT authority for?

Disallowance under Section 14A read with Rule 8D(2)(iii) does not apply to long-term investments, including those in subsidiary/group concerns or strategic investments, and such investments should be excluded from the calculation.

74

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2026.

Also referred to as

Garware Wall Ropes Ltd v ACIT · Section 14A disallowance · Rule 8D(2)(iii) · long term investments · strategic investments · investments in subsidiary · investments in group concerns · expenditure relating to exempt income · ITAT decision · 65 SOT 86

Sections most often in play

Section 14ASection 244ASection 36(1)(vii)Section 36(1)(viia)Section 40(a)(ia)Section 43BSection 80-IA

Judgments citing Garware Wall Ropes Ltd. v. ACIT

M/S. Simpson & Co. Ltd., Chennai vs. DCIT, Chennai

In the result, both the appeals filed by the assessee are partly allowed for statistical purposes

ITA 170/CHNY/2018[2014-15]Status: DisposedITAT Chennai28 Feb 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./Ita Nos.170 & 171/Chny/2018 "नधा"रण वष" /Assessment Years: 2013-14 & 2014-15

For Appellant: Shri ARV Sreenivasan, JCITFor Respondent: 19.02.2019
Section 14A

…cy there is no reason to believe that the assessee would have incurred any administrative expenses in holding these investments; EIH vs. DCIT (ITAT Chennai) (2009) 126 TTJ 0246 Interglobe Enterprises Ltd 2014-TIOL-729-ITAT-DEL/ Garware WaLl Ropes Ltd vs. ACIT 65 SOT 86 Mum. J.M.Financial Ltd v ACIT 2014-TIOL-202-ITAT-MUM ITA Nos.170 & 171/Chny/2018 (AYs: 2013-14 & 2014-15) :- 3 -: 2.6 The Commissioner of Income tax (Appeals) ought to have appreciated that the Investments in Mutual Funds are handled by the outsourced intermediary who doesn’t charge any fees, as they earn commission from the concerned mutual funds…

Vakkash Capital Company Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle-14(3)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 4919/MUM/2017[2012-13]Status: DisposedITAT Mumbai14 Feb 2018AY 2012-13

Bench: Shri D.T. Garasiaassessment Year: 2012-13 M/S. Vakkash Capital Co. Ltd., Dy. Cit, Circle-14(3)(1), Room No.307, 3Rd Floor, 141, Mittal Tower, Vs. C Wing, Nariman Point, Aayakar Bhavan, Mumbai – 400 021 M.K. Road, Mumbai – 400 009 Pan: Aaccv 0990R (Appellant) (Respondent) Present For: Assessee By : Ms. Dinkle Haria, A.R. Revenue By : Ms. N. Hemalatha, D.R. Date Of Hearing : 14.12.2017 Date Of Pronouncement : 14.02.2018 O R D E R

For Appellant: Ms. Dinkle Haria, A.RFor Respondent: Ms. N. Hemalatha, D.R
Section 10(34)Section 14A

…d no exempt income was earned by the assessee in relevant year and since the genuineness of the expenditure incurred by the assessee is not in doubt, no disallowance can be made. The Ld. A.R. relied upon the decision of Garware Wall Ropes Ltd. vs. ACIT (2014) 65 SOT 86 (Mumbai – Trib.) wherein it is held that where the assessee had made certain investments with an object of acquiring controlling stake in a group concern and not for earning any income out of investment no disallowance can be made under section 14A read with rule 8D. The Ld. A.R. relied upon Thomas Cook vs. DCIT 49 ITR(T) 178 (Mumbai – Trib.) where…

Addl CIT RG 2(2), Mumbai vs. The Inidan Hotels Company Ltd, Mumbai

In the result, appeal filed by the revenue is partly allowed, appeal filed by the assessee is allowed and the cross objection filed by the assessee is dismissed

ITA 841/MUM/2010[2005-06]Status: DisposedITAT Mumbai31 Jan 2018AY 2005-06

Bench: Shri B.R. Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2005-06 The Indian Hotels Company Ltd., The Additional Commissioner Of Mandlik House, Income Tax, Circle-2(2), Mandlik Road, Colaba, Aayakar Bhavan, Mumbai - 400001 Vs. Mumbai Pan: Aaact3957G (Appellant) (Respondent) Assessment Year: 2005-06 The Additional Commissioner Of The Indian Hotels Company Ltd., Income Tax, Circle-2(2), Mandlik House, 3Rd Floor, Aayakar Bhavan, Mandlik Road, Colaba, Room No. 545, 5Th Floor, Vs. Mumbai - 400001 M.K. Road, Mumbai- 400020 Pan: Aaact3957G (Appellant) (Respondent) & Co No. 169/Mum/2010 Assessment Year: 2005-06 The Indian Hotels Company Ltd., The Deputy Commissioner Of Mandlik House, Income Tax, Circle-2(2), Mandlik Road, Apollo Bunder, Aayakar Bhavan, Mumbai – 400001 Vs. Mumbai Pan: Aaact3957G (Appellant) (Respondent) Assessee By : Shri Pratik Shah(Ar) Revenue By : Shri M.C. Omi Ningshen (Dr) Date Of Hearing: 10/11/2017 Date Of Pronouncement: 31/01/2018 Assessment Year: 2005-06

For Appellant: Shri Pratik Shah(AR)For Respondent: Shri M.C. Omi Ningshen (DR)
Section 142Section 143Section 143(3)Section 14ASection 244ASection 43BSection 92C

…ce made in the year 1998-99 to assessment year 2002-2003 holding that the asessee’s claimed is found to be correct and in order. The assessee has pointed out that as per the decision of the coordinate Bench in the case of Garware Walls Ltd. vs. Addl. CIT 2014 65 SOT 86 (Mum.Trib.) and other Benches of the Tribunal strategic investments made by the assessee are required to be excluded from the value of investment. As per the decision of Delhi Bench of the Tribunal only those investments are to be considered for computing the average value of investment, which yield exempt income during the year. In Godrej and Boyc…

The Indian Hotels Company Ltd, Mumbai vs. Addl CIT Cir 2(2), Mumbai

In the result, appeal filed by the revenue is partly allowed, appeal filed by the assessee is allowed and the cross objection filed by the assessee is dismissed

ITA 371/MUM/2010[2005-06]Status: DisposedITAT Mumbai31 Jan 2018AY 2005-06

Bench: Shri B.R. Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2005-06 The Indian Hotels Company Ltd., The Additional Commissioner Of Mandlik House, Income Tax, Circle-2(2), Mandlik Road, Colaba, Aayakar Bhavan, Mumbai - 400001 Vs. Mumbai Pan: Aaact3957G (Appellant) (Respondent) Assessment Year: 2005-06 The Additional Commissioner Of The Indian Hotels Company Ltd., Income Tax, Circle-2(2), Mandlik House, 3Rd Floor, Aayakar Bhavan, Mandlik Road, Colaba, Room No. 545, 5Th Floor, Vs. Mumbai - 400001 M.K. Road, Mumbai- 400020 Pan: Aaact3957G (Appellant) (Respondent) & Co No. 169/Mum/2010 Assessment Year: 2005-06 The Indian Hotels Company Ltd., The Deputy Commissioner Of Mandlik House, Income Tax, Circle-2(2), Mandlik Road, Apollo Bunder, Aayakar Bhavan, Mumbai – 400001 Vs. Mumbai Pan: Aaact3957G (Appellant) (Respondent) Assessee By : Shri Pratik Shah(Ar) Revenue By : Shri M.C. Omi Ningshen (Dr) Date Of Hearing: 10/11/2017 Date Of Pronouncement: 31/01/2018 Assessment Year: 2005-06

For Appellant: Shri Pratik Shah(AR)For Respondent: Shri M.C. Omi Ningshen (DR)
Section 142Section 143Section 143(3)Section 14ASection 244ASection 43BSection 92C

…ce made in the year 1998-99 to assessment year 2002-2003 holding that the asessee’s claimed is found to be correct and in order. The assessee has pointed out that as per the decision of the coordinate Bench in the case of Garware Walls Ltd. vs. Addl. CIT 2014 65 SOT 86 (Mum.Trib.) and other Benches of the Tribunal strategic investments made by the assessee are required to be excluded from the value of investment. As per the decision of Delhi Bench of the Tribunal only those investments are to be considered for computing the average value of investment, which yield exempt income during the year. In Godrej and Boyc…

Prime Gold Infra Steel Ltd., Jaipur vs. ACIT, Alwar

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

ITA 831/JPR/2014[2010-11]Status: DisposedITAT Jaipur25 Jan 2018AY 2010-11

Bench: Or At The Time Of Hearing.”

For Appellant: Shri S.L. Podar (Adv.)For Respondent: Shri. P.P. Meena (J.CIT)
Section 14ASection 2(14)Section 48Section 50C

…his contention, he has relied upon the decisions of Hon’ble Delhi High 6 M/s Prime Gold Infra Steel Ltd. vs. ACIT Court in case of Cheminvest Ltd. vs/ CIT 378 ITR 33 as well as decision ofMumbai Bench of Tribunal in case of Garware Wall Ropes Ltd. Vs. ACIT 65 SOT 86. 9. On the other hand, ld. DR has submitted that the assessee has made huge investment of Rs. 3,62,74,400/- in the shares of the sister concern. The assessee has also paid interest on borrowed funds, therefore, the proportionate disallowance u/s 14A of the Act is justified. He has relied upon the orders of the authorities below and submitted th…

Veena Investment P.Ltd, Mumbai vs. DCIT Cir 7(3), Mumbai

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

ITA 3402/MUM/2017[2011-12]Status: DisposedITAT Mumbai24 Jan 2018AY 2011-12

Bench: Shri Mahavir Singh & Shri Rajesh Kumarm/S. Veena Investment P. Ltd. Dcit, Circle 7(3) 18Th Flor, Marathon Futurex Aayakar Bhavan, M.K. Road Vs. A Wing, N.M. Joshi Marg Mumbai 400020 Lower Pare, Mumbai 400013 Pan – Aaacv6436A Appellant Respondent

For Appellant: Shri B.S. SharmaFor Respondent: Ms. Pooja Swaroop
Section 14A

…ein similar issue has been allowed for statistical purposes by issuing directions to decide the same on the lines of the decisions of the Coordinate Benches in the case of J.M. Financial Ltd. vs. ACIT in ITA No. 4521/Mum/2012, Garware Wall Ropes Ltd. vs. DCIT 65 SOT 86 and Kotak Mahindra Capital Co. Ltd. vs. DCIT in ITA No. 5748/Mum/2012. The learned A.R. prayed before the Bench that since the entire investments were made from strategic point of view, no disallowance can be made on the said investments in the group companies. Moreover no disallowance under Section 14A can be made if shares are held as stock in tr…

DCIT Cir 2(2)(1), Mumbai vs. Infina Finance P.Ltd, Mumbai

Appeal stands dismissed

ITA 3329/MUM/2016[2012-13]Status: DisposedITAT Mumbai17 Jan 2018AY 2012-13

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am

For Appellant: NoneFor Respondent: Saurabh Deshpande, Ld. DR
Section 143(3)Section 14A

…has erred in directing the Assessing Officer to restrict the disallowance u/s 14A r. w. Rule 8D(2)(iii) by excluding the long term investments which are in the nature of strategic investments relying on the decision of ITAT in case of Garware Wall Ropes Ltd (65 SOT 86), without appreciation the fact that the decision of the ITAT has not been accepted by the department and appeal has been admitted by the Hon’ble High Court.” The assessment for impugned AY was framed by Ld. Assistant Commissioner of Income Tax Circle 2(2)(1), Mumbai [AO] u/s 143(3) of the Income Tax Act on 18/02/2015. None has appeared for assess…

Aha Holdings P. Ltd, Mumbai vs. DCIT 6(1), Mumbai

In the result, appeal filed by the assessee for assessment year 2010-2011

ITA 6054/MUM/2014[2010-11]Status: DisposedITAT Mumbai04 Dec 2017AY 2010-11

Bench: Shri G.S. Pannu (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2010-11 M/S Aha Holdings Pvt. Ltd., The Dcit, Circle- 6(1), (Formerly Known As Idream Aaykar Bhavan, Holding Pvt. Ltd.), M.K. Road, 161, Star City, Vs. Mumbai - 400020 Manmala Tank Road, Mahim (West), Mumbai - 400016 Pan: Aafcs6404E (Appellant) (Respondent) Assessee By : Shri Hiro Rai (Ar) Revenue By : Shri Saurabh Deshpande (Dr) Date Of Hearing : 04/09/2017 Date Of Pronouncement : 04/12/2017

For Appellant: Shri Hiro Rai (AR)For Respondent: Shri Saurabh Deshpande (DR)
Section 10(34)Section 115JSection 14Section 143Section 14A

…s 14A cannot exceed dividend income. Further, the Ld. Counsel submitted that provisions u/s 14A of the Act do not apply to strategic investments in group/subsidiaries companies in view of the decision of Mumbai Tribunal in Garware Wall Ropes Ltd. vs Addl. CIT 65 SOT 86 (Mum-Trib), J M Financial Ltd. v Add. CIT, ITA No 4521/Mum/2012, Asst. CIT v Smart Chip Ltd. ITA No 1923/Mum/2012 and Twinkle Enviro Tech Ltd. v DCIT, ITA No 1752 to 1754/Mum/2013. 8. On the other hand, the Ld. (DR) relying on the order passed by the Ld. CIT (A) submitted that the Ld. CIT (A) has rightly upheld the disallowance made by the AO under…

Stci Finance Ltd, Mumbai vs. DCIT RG (OSD) 1(2), Mumbai

In the result, appeal filed by the assessee is allowed and appeal of the Revenue is

ITA 6321/MUM/2014[2010-11]Status: DisposedITAT Mumbai29 Sept 2017AY 2010-11

Bench: Shri G.S. Pannu & Shri Pawan Singhstci Finance Limited The Dcit (Osd) -1(2), A/B 1-802, A Wing, 8Th Floor, Aayakar Bhavan, Churchgate, Marathon Innova, Marathon Mumbai-400020. Nextgen Compound, Off Vs. Ganpatrao Kadam Marg, Lower Parel (W), Mumbai-400013 Pan: Aagcs9709K (Appellant) (Respondent) The Dcit (Osd) -1(2), Stci Finance Limited A/B 1-802, A Wing, 8Th Floor, Aayakar Bhavan, Churchgate, Mumbai-400020. Marathon Innova, Marathon Vs. Nextgen Compound, Off Ganpatrao Kadam Marg, Lower Parel (W), Mumbai-400013 Pan: Aagcs9709K (Appellant) (Respondent) Assessee By Shri Karthik Natrajan & : Ms. Hetal Vora, (Ar) Revenue By : Shri V. Justin (Sr. Dr) Date Of Hearing : 22.08.2017 Date Of Pronouncement : 29.09.2017 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. These Two Appeal U/S 253 Of The Income-Tax Act (The Act) Are Directed Against The Order Of Ld. Cit(A)-2, Mumbai Dated 14.06.2014 For The Assessment Year (Ay)

For Respondent: Shri V. Justin (Sr. DR)
Section 115JSection 143(3)Section 14ASection 14A(2)Section 250Section 253Section 254(1)

…14- STCI Finance Limited For supporting his submission, the ld. AR relied upon the decision of Fiduciary Euromax Global Markets Ltd. (ITA No. 1349/M/2012) (Mumbai ITAT), Videocon Industries (2017) (49 CCH 0057) (Mum. ITAT), Garware Wall Ropes Ltd. (2014) (65 SOT 86) (Mum. ITAT), JM Financial Ltd. (ITA No. 4521/M/2012) (Mum. ITAT) and Vakrangee Ltd. (ITA No. 6988/M/2014 (Mum. ITAT). 5. In alternative plea, the ld. AR of the assessee submitted that the only investments which have yielded dividend income during the year ought to be considered for the purpose of Rule 8D of the Act. The Revenue has disallowed t…

Asst CIT 1(3), Mumbai vs. Stci Ltd, Mumbai

In the result, appeal filed by the assessee is allowed and appeal of the Revenue is

ITA 6125/MUM/2014[2010-11]Status: DisposedITAT Mumbai29 Sept 2017AY 2010-11

Bench: Shri G.S. Pannu & Shri Pawan Singhstci Finance Limited The Dcit (Osd) -1(2), A/B 1-802, A Wing, 8Th Floor, Aayakar Bhavan, Churchgate, Marathon Innova, Marathon Mumbai-400020. Nextgen Compound, Off Vs. Ganpatrao Kadam Marg, Lower Parel (W), Mumbai-400013 Pan: Aagcs9709K (Appellant) (Respondent) The Dcit (Osd) -1(2), Stci Finance Limited A/B 1-802, A Wing, 8Th Floor, Aayakar Bhavan, Churchgate, Mumbai-400020. Marathon Innova, Marathon Vs. Nextgen Compound, Off Ganpatrao Kadam Marg, Lower Parel (W), Mumbai-400013 Pan: Aagcs9709K (Appellant) (Respondent) Assessee By Shri Karthik Natrajan & : Ms. Hetal Vora, (Ar) Revenue By : Shri V. Justin (Sr. Dr) Date Of Hearing : 22.08.2017 Date Of Pronouncement : 29.09.2017 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. These Two Appeal U/S 253 Of The Income-Tax Act (The Act) Are Directed Against The Order Of Ld. Cit(A)-2, Mumbai Dated 14.06.2014 For The Assessment Year (Ay)

For Respondent: Shri V. Justin (Sr. DR)
Section 115JSection 143(3)Section 14ASection 14A(2)Section 250Section 253Section 254(1)

…14- STCI Finance Limited For supporting his submission, the ld. AR relied upon the decision of Fiduciary Euromax Global Markets Ltd. (ITA No. 1349/M/2012) (Mumbai ITAT), Videocon Industries (2017) (49 CCH 0057) (Mum. ITAT), Garware Wall Ropes Ltd. (2014) (65 SOT 86) (Mum. ITAT), JM Financial Ltd. (ITA No. 4521/M/2012) (Mum. ITAT) and Vakrangee Ltd. (ITA No. 6988/M/2014 (Mum. ITAT). 5. In alternative plea, the ld. AR of the assessee submitted that the only investments which have yielded dividend income during the year ought to be considered for the purpose of Rule 8D of the Act. The Revenue has disallowed t…

DCIT, Chennai vs. Shriram Properties Pvt Limited, Chennai

In the result, the appeal of the Revenue is partly allowed for statistical purposes

ITA 2018/CHNY/2016[2011-12]Status: DisposedITAT Chennai06 Jun 2017AY 2011-12

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

For Appellant: Shri R. Sivaraman, AdvocateFor Respondent: 03.04.2017
Section 143(2)Section 143(3)Section 14ASection 195Section 250(6)Section 40Section 9(1)(vii)

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकरअपीलसं./I.T.A.No.2018/Mds/2016 ("नधा"रणवष" / Assessment Year: 2011-12) Vs M/s. Shriram Properties Pvt. Ltd., The Deputy Commissioner of No.149, Greams Dugar, 4th & 5th Income Tax, Corporate Circle 6(1), Floor, Greams Road, Chennai -34. Chennai – 600 006. PAN: AAFCS5801D (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri A.V. Sreekanth, JCIT अपीलाथ"क"…

DCIT, Chennai vs. M/S. Svl Ltd., Chennai

In the result the appeal of the assessee is dismissed and the appeal of the Revenue is partly allowed as indicated herein above

ITA 3007/CHNY/2016[2013-14]Status: DisposedITAT Chennai09 May 2017AY 2013-14

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

For Appellant: Shri R. Sivaraman, Advocate
Section 143(3)Section 14ASection 250(6)

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकरअपीलसं./I.T.A.No.2746/Mds/2016 ("नधा"रणवष" / Assessment Year: 2013-14) M/s. SVL Limited, Vs The Deputy Commissioner of Income Tax, (Formerly Shriram Industrial Holdings Pvt. Ltd.,) Corporate Circle 6(1), Mookambika Complex, Chennai. No.4, Lady Desika Road, Mylapore, Chennai – 600 004. PAN: AAACS7696D (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयक…

Shriram Industrial Holdings Pvt. Ltd., Chennai vs. DCIT, Chennai

In the result the appeal of the assessee is dismissed and the appeal of the Revenue is partly allowed as indicated herein above

ITA 2746/CHNY/2016[2013-14]Status: DisposedITAT Chennai09 May 2017AY 2013-14

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

For Appellant: Shri R. Sivaraman, Advocate
Section 143(3)Section 14ASection 250(6)

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकरअपीलसं./I.T.A.No.2746/Mds/2016 ("नधा"रणवष" / Assessment Year: 2013-14) M/s. SVL Limited, Vs The Deputy Commissioner of Income Tax, (Formerly Shriram Industrial Holdings Pvt. Ltd.,) Corporate Circle 6(1), Mookambika Complex, Chennai. No.4, Lady Desika Road, Mylapore, Chennai – 600 004. PAN: AAACS7696D (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयक…

DCIT, Chennai vs. M/S. Allianz Biosciences Pvt. Ltd., Chennai

In the result appeals of the Revenue for both the relevant assessment years 2009-10 & 2010-11 are partly allowed for statistical purposes as indicated herein above

ITA 2226/CHNY/2016[2010-11]Status: DisposedITAT Chennai09 May 2017AY 2010-11

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

For Appellant: Shri T. Banusekar, CAFor Respondent: 12.04.2017
Section 143(1)Section 143(3)Section 144ASection 14ASection 250(6)Section 73Section 80I

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकरअपीलसं./I.T.A.Nos.2225 & 2226/Mds/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2010-11) & C.O. Nos. 130 & 131/Mds/2016 Vs M/s. Allianz Biosciences Pvt. Ltd., The Deputy Commissioner of Income Tax, 1A, Owners Court, Corporate Circle 1(1), 22 Montieth Lane, Chennai -34. Egmore, Chennai – 600 008 PAN: AABCH2431G (अपीलाथ"/Appellant) (""यथ"/Respond…

DCIT, Chennai vs. M/S. Allianz Biosciences Pvt. Ltd., Chennai

In the result appeals of the Revenue for both the relevant assessment years 2009-10 & 2010-11 are partly allowed for statistical purposes as indicated herein above

ITA 2225/CHNY/2016[2009-10]Status: DisposedITAT Chennai09 May 2017AY 2009-10

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

For Appellant: Shri T. Banusekar, CAFor Respondent: 12.04.2017
Section 143(1)Section 143(3)Section 144ASection 14ASection 250(6)Section 73Section 80I

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकरअपीलसं./I.T.A.Nos.2225 & 2226/Mds/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2010-11) & C.O. Nos. 130 & 131/Mds/2016 Vs M/s. Allianz Biosciences Pvt. Ltd., The Deputy Commissioner of Income Tax, 1A, Owners Court, Corporate Circle 1(1), 22 Montieth Lane, Chennai -34. Egmore, Chennai – 600 008 PAN: AABCH2431G (अपीलाथ"/Appellant) (""यथ"/Respond…

Sidd Life Sciences Pvt. Ltd., Chennai vs. DCIT, Chennai

In the result, the appeal of the assessee is allowed for statistical purpose as indicated herein above

ITA 3044/CHNY/2016[2012-13]Status: DisposedITAT Chennai10 Apr 2017AY 2012-13

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

For Appellant: Shri A.V. Sreekanth, JCITFor Respondent: 04.04.2017
Section 143(3)Section 14ASection 250(6)

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकरअपीलसं./I.T.A.No.3044/Mds/2016 ("नधा"रणवष" / Assessment Year: 2012-13) Vs The M/s. SIDD Life Sciences Private Deputy Commissioner of Limited, Income Tax, Plot No.4, NH-7, MMDA Industrial Corporate Ward 6(2), Estate, Marimalai Nagar, Chennai. Chennai – 603 209 PAN: AAECS9251J (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri Mukesh Kumar.M, CA अपीला…

Lakshmi Electrical Drives Ltd., Coimbatore vs. DCIT, Coimbatore

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

ITA 3114/CHNY/2016[2011-12]Status: DisposedITAT Chennai23 Mar 2017AY 2011-12

Bench: Shri A.Mohan Alankamony & Shri G. Pavan Kumarआयकर अपील सं./Ita No.3114/Mds/2016 िनधा"रण वष" / Assessment Year : 2011-12 Lakshmi Electrical Drives Ltd., V. The Deputy Commissioner Of 504, Avinashi Road, Peelamedu, Income Tax, Coimbatore – 641 004. Corporate Circle-2, Coimbatore Pan: Aaacl5264Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri K. Raghu, Ca ""यथ" क" ओर से/Respondent By : Shri Shiva Srinivas, Jcit सुनवाई क" तारीख/Date Of Hearing : 14.03.2017 घोषणा क" तारीख/Date Of Pronouncement : 23.03.2017

For Appellant: Shri K. Raghu, CAFor Respondent: Shri Shiva Srinivas, JCIT
Section 115JSection 14Section 143(1)Section 143(3)Section 14ASection 250(6)

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी,लेखा सद"य एवं "ी जी. पवन कुमार, "या"यक सद"य केसम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER, AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA No.3114/Mds/2016 िनधा"रण वष" / Assessment Year : 2011-12 Lakshmi Electrical Drives Ltd., v. The Deputy Commissioner of 504, Avinashi Road, Peelamedu, Income Tax, Coimbatore – 641 004. Corporate Circle-2, Coimbatore PAN: AAACL5264Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri K. Raghu, CA ""यथ" क" ओर से/Respond…

M/S. Lucas India Service Ltd., Chennai vs. ACIT, Chennai

In the result, the appeal of the assessee for the assessment year s 2005-06 is allowed, 2007-08 is partly allowed and 2008-09 &

ITA 2687/CHNY/2016[2010-11]Status: DisposedITAT Chennai23 Mar 2017AY 2010-11

Bench: Shri A.Mohan Alankamony & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.2684 To 2687/Mds/2016 िनधा"रण वष" / Assessment Years : 2005-06, 2007-08, 2008-09 & 2010-11 M/S. Lucas India Service Limited, V. The Asstt. Commissioner Of No.11, Pattullos Road, Income Tax, Chennai – 600 002. Company Circle – Ii(4), Chennai – 34. Pan: Aaacl1018J (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Sp Chidambaram, Advocate ""यथ" क" ओर से/Respondent By : Shri Shiva Srinivas, Jcit सुनवाई क" तारीख/Date Of Hearing : 08.03.2017 घोषणा क" तारीख/Date Of Pronouncement : 23.03.2017

For Appellant: Shri SP ChidambaramFor Respondent: Shri Shiva Srinivas, JCIT
Section 14ASection 250(6)

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी,लेखा सद"य एवं "ी जी. पवन कुमार, "या"यक सद"य केसम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER, AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.2684 to 2687/Mds/2016 िनधा"रण वष" / Assessment Years : 2005-06, 2007-08, 2008-09 & 2010-11 M/s. Lucas India Service Limited, v. The Asstt. Commissioner of No.11, Pattullos Road, Income Tax, Chennai – 600 002. Company Circle – II(4), Chennai – 34. PAN: AAACL1018J (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri…

M/S. Lucas India Service Ltd., Chennai vs. ACIT, Chennai

In the result, the appeal of the assessee for the assessment year s 2005-06 is allowed, 2007-08 is partly allowed and 2008-09 &

ITA 2686/CHNY/2016[2008-09]Status: DisposedITAT Chennai23 Mar 2017AY 2008-09

Bench: Shri A.Mohan Alankamony & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.2684 To 2687/Mds/2016 िनधा"रण वष" / Assessment Years : 2005-06, 2007-08, 2008-09 & 2010-11 M/S. Lucas India Service Limited, V. The Asstt. Commissioner Of No.11, Pattullos Road, Income Tax, Chennai – 600 002. Company Circle – Ii(4), Chennai – 34. Pan: Aaacl1018J (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Sp Chidambaram, Advocate ""यथ" क" ओर से/Respondent By : Shri Shiva Srinivas, Jcit सुनवाई क" तारीख/Date Of Hearing : 08.03.2017 घोषणा क" तारीख/Date Of Pronouncement : 23.03.2017

For Appellant: Shri SP ChidambaramFor Respondent: Shri Shiva Srinivas, JCIT
Section 14ASection 250(6)

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी,लेखा सद"य एवं "ी जी. पवन कुमार, "या"यक सद"य केसम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER, AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.2684 to 2687/Mds/2016 िनधा"रण वष" / Assessment Years : 2005-06, 2007-08, 2008-09 & 2010-11 M/s. Lucas India Service Limited, v. The Asstt. Commissioner of No.11, Pattullos Road, Income Tax, Chennai – 600 002. Company Circle – II(4), Chennai – 34. PAN: AAACL1018J (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri…

M/S. Lucas India Service Ltd., Chennai vs. ACIT, Chennai

In the result, the appeal of the assessee for the assessment year s 2005-06 is allowed, 2007-08 is partly allowed and 2008-09 &

ITA 2685/CHNY/2016[2007-08]Status: DisposedITAT Chennai23 Mar 2017AY 2007-08

Bench: Shri A.Mohan Alankamony & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.2684 To 2687/Mds/2016 िनधा"रण वष" / Assessment Years : 2005-06, 2007-08, 2008-09 & 2010-11 M/S. Lucas India Service Limited, V. The Asstt. Commissioner Of No.11, Pattullos Road, Income Tax, Chennai – 600 002. Company Circle – Ii(4), Chennai – 34. Pan: Aaacl1018J (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Sp Chidambaram, Advocate ""यथ" क" ओर से/Respondent By : Shri Shiva Srinivas, Jcit सुनवाई क" तारीख/Date Of Hearing : 08.03.2017 घोषणा क" तारीख/Date Of Pronouncement : 23.03.2017

For Appellant: Shri SP ChidambaramFor Respondent: Shri Shiva Srinivas, JCIT
Section 14ASection 250(6)

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी,लेखा सद"य एवं "ी जी. पवन कुमार, "या"यक सद"य केसम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER, AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.2684 to 2687/Mds/2016 िनधा"रण वष" / Assessment Years : 2005-06, 2007-08, 2008-09 & 2010-11 M/s. Lucas India Service Limited, v. The Asstt. Commissioner of No.11, Pattullos Road, Income Tax, Chennai – 600 002. Company Circle – II(4), Chennai – 34. PAN: AAACL1018J (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri…