HDFC Bank Ltd. v. DCIT

155 ITD 765Income Tax Appellate Tribunal2015#5876 most cited

What is HDFC Bank Ltd. v. DCIT authority for?

A deduction for employee stock option scheme (ESOS) discount is allowable only when the discount offered is taxable as a perquisite in the hands of employees and is subjected to TDS.

20

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2021 to 2025.

Also referred to as

HDFC Bank Ltd. v. DCIT · 155 ITD 765 · ESOS deduction · taxable perquisite · employee stock option scheme · TDS applicability · income tax act

Sections most often in play

Section 115JBSection 115USection 14ASection 244ASection 271(1)(c)Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

Issues it is cited on

section 50(1)section 80absection 54esection 80msection 10(15)section 10(33)section 14a(1)section 70(2)section 54ecsection 36(1)(viii)long-term capital assetddt

Judgments citing HDFC Bank Ltd. v. DCIT

Hdfc Bank Ltd (Successor to Hdfc Ltd), Mumbai vs. DCIT-2(3)(1), Mumbai

In the result, the appeal of the assessee bearing ITA No

ITA 1828/MUM/2025[2021-22]Status: DisposedITAT Mumbai18 Jul 2025AY 2021-22

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhrihdfc Bank Limited Vs The Deputy Commissioner Of (As Successor To Housing Income-Tax-2(3)(1), Mumbai Development Corporation Room No.552, Aaykar Bhavan Finance Limited), M.K. Road, Mumbai-400 020 Hdfc Bank House, Corporate Tax Department, Senapati Bapat Marg, Lower Parel, Mumbai-400013 Pan: Aaach2702H Applicant Respondent

For Appellant: Shri J.D. MistriFor Respondent: Shri Ritesh Mishra, CIT DR
Section 139(1)Section 143(1)Section 250Section 37(1)

…eld that ESOS deduction is allowable only when the discount offered is taxable as perquisite in the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28.2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additional ground…

ACIT Circle 3, Lucknow vs. Rajdhani Nagar Sahkari Bank Ltd, Lucknow

In the result, the appeal of the assessee in ITA

ITA 141/LKW/2024[2016-17]Status: DisposedITAT Lucknow22 May 2025AY 2016-17

Bench: Shri Kul Bharat & Before Shri Kul Bharat & Before Shri Kul Bharat & Shri Nikhil Choudharyshri Nikhil Choudharyshri Nikhil Choudharyita Nos. 112 To 114/Lkw/2024 A.Ys. 2015-16 To 2017-18 Rajdhani Nagar Sahkari Rajdhani Nagar Sahkari Vs. Dcit Bank Ltd P.K. Complex, Raja Ram Mohan P.K. Complex, Raja Ram Mohan 555Ga/86, Sardari Khera, 555Ga/86, Sardari Khera, Rai Marg, Lucknow-226001. 226001. Alambagh, Lucknow-226006 226006 Pan:Aaaar1269D (Appellant) (Respondent) (Respondent) A.Y.2016-17 Acit Circle-3 Vs. Rajdhani Nagar Sahkari Bank Rajdhani Nagar Sahkari Bank 57 Ram Tirath Marg Pratyaksh 57 Ram Tirath Marg Pratyaksh Ltd Kar Bhawan, Lucknow Kar Bhawan, Lucknow-226001 555Ga/86, Sardari Khera, 555Ga/86, Sardari Khera, Alambagh, Lucknow-226006 226006 Pan: Aaaar1269D (Appellant) (Respondent) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Sh. Shubham Rastogi, C.A. Revenue By: Sh. Sanjeev Krishna Sharma, Addl. Addl. Cit- Dr Date Of Hearing: 28.04.2025 Date Of Pronouncement: Date Of Pronouncement: 22.05.2025 O R D E R Per Bench.: These Four Appeals Have Been Have Been Filed For The Assessment Years 2015 For The Assessment Years 2015-16, 2016- 17 & 2017-18 By The Assessee & Revenue Ssessee & Revenue Against The Respective Orders Of The Respective Orders Of The Ld. Cit(A)/Nfac, Delhi Dated 02.02.2024, 05.02.2024 & 05.02.2024 Delhi Dated 02.02.2024, 05.02.2024 & 05.02.2024. While The Delhi Dated 02.02.2024, 05.02.2024 & 05.02.2024 Assessee Is In Appeal In Assessment Years 2015 Assessee Is In Appeal In Assessment Years 2015-16, 2016-17 & 2017-18, The Revenue 18, The Revenue

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. Sanjeev Krishna Sharma, Addl
Section 36(1)(v)

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos. 112 to 114/LKW/2024 A.Ys. 2015-16 to 2017-18 Rajdhani Nagar Sahkari Rajdhani Nagar Sahkari vs. DCIT Bank Ltd P.K. Complex, Raja Ram Mohan P.K. Complex, Raja Ram Mohan 555GA/86, Sardari Khera, 555GA/86, Sardari Khera, Rai Marg, Lucknow-226001. 22600…

Rajdhani Nagar Sahkari Bank Ltd, Lucknow vs. Dy.CIT, Lucknow

ITA 114/LKW/2024[2017-18]Status: DisposedITAT Lucknow22 May 2025AY 2017-18

Bench: Shri Kul Bharat & Shri Nikhil Choudhary

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. Sanjeev Krishna Sharma, Addl. CIT-DR
Section 36(1)(v)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.112 to 114/LKW/2024 A.Ys.2015-16 to 2017-18 Rajdhani Nagar Sahkari Bank Ltd vs. DCIT 555GA/86, Sardari Khera, Alambagh, Lucknow-226006 P.K. Complex, Raja Ram Mohan Rai Marg, Lucknow-226001. PAN:AAAAR1269D (Appellant) (Respondent) ITA No.141/LKW/2024 A.Y.2016-17 ACIT Circle-3 vs. Rajdhani Nagar Sahkari Bank Ltd 57 Ram Tirath Marg Pratyaksh Kar Bhawan, Lucknow-226001 555GA/86, Sardari Khera, Alambagh, Lucknow-226006 PAN: AAAAR1269D (Appellant) (Respondent) Asses…

Rajdhani Nagar Sahkari Bank Ltd, Lucknow vs. Dy. CIT, Lucknow

ITA 113/LKW/2024[2016-17]Status: DisposedITAT Lucknow22 May 2025AY 2016-17

Bench: Shri Kul Bharat & Shri Nikhil Choudhary

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. Sanjeev Krishna Sharma, Addl. CIT-
Section 36(1)(v)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.112 to 114/LKW/2024 A.Ys.2015-16 to 2017-18 vs. Rajdhani Nagar Sahkari Bank Ltd 555GA/86, Sardari Khera, Alambagh, Lucknow-226006 PAN:AAAAR1269D (Appellant) DCIT P.K. Complex, Raja Ram Mohan Rai Marg, Lucknow-226001. (Respondent) ITA No.141/LKW/2024 Α.Υ.2016-17 vs. ACIT Circle-3 57 Ram Tirath Marg Pratyaksh Kar Bhawan, Lucknow-226001 PAN: AAAAR1269D (Appellant) Rajdhani Nagar Sahkari Bank Ltd 555GA/86, Sardari Khera, Alambagh, Lucknow-226006 (Responden…

Rajdhani Nagar Sahkari Bank Ltd, Lucknow vs. Dy.CIT, Lucknow

ITA 112/LKW/2024[2015-16]Status: DisposedITAT Lucknow22 May 2025AY 2015-16

Bench: Shri Kul Bharat & Shri Nikhil Choudhary

For Appellant: Revenue byFor Respondent: Date of hearing
Section 36(1)(v)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.112 to 114/LKW/2024 A.Ys.2015-16 to 2017-18 vs. DCIT Rajdhani Nagar Sahkari Bank Ltd 555GA/86, Sardari Khera, Alambagh, Lucknow-226006 PAN:AAAAR1269D (Appellant) P.K. Complex, Raja Ram Mohan Rai Marg, Lucknow-226001. (Respondent) ITA No.141/LKW/2024 Α.Υ.2016-17 ACIT Circle-3 57 Ram Tirath Marg Pratyaksh Kar Bhawan, Lucknow-226001 PAN: AAAAR1269D (Appellant) Assessee by: Revenue by: Date of hearing: Date of pronouncement: vs. Rajdhani Nagar Sahkari Bank Ltd 555…

ACIT-2(3)(1), Mumbai vs. Hdfc Bank Limited (Merged Entity Housing Development Finance Corporation Limited), Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 2597/MUM/2024[2020-21]Status: DisposedITAT Mumbai28 Jan 2025AY 2020-21

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and
Section 1

…ble as perquisite in HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additio…

ACIT-1(1)(1), Mumbai vs. M/S. Housing Development Finance Corporation Ltd., Delhi

ITA 2049/MUM/2023[2016-17]Status: DisposedITAT Mumbai28 Jan 2025AY 2016-17

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

…taxable as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28.2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additional ground…

ACIT-1(1)(1), Mumbai vs. M/S. Housing Development Finance Corporation Ltd., Delhi

In the result, appeals of both, assessee and revenue are decided

ITA 2047/MUM/2023[2018-19]Status: DisposedITAT Mumbai28 Jan 2025AY 2018-19

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and

…as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an addition…

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. DCIT Range-1(1)(2), Mumbai

ITA 4983/MUM/2017[2013-14]Status: DisposedITAT Mumbai28 Jan 2025AY 2013-14

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate andFor Respondent: Shri Biswanath Das, CIT

…able as perquisite in 92 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additional gro…

DCIT - 1(1)(2), Mumbai vs. Housing Development Finance Corporartion Ltd., Mumbai

ITA 2862/MUM/2017[2012-13]Status: DisposedITAT Mumbai28 Jan 2025AY 2012-13

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advoca

…s perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additio…

DCIT - 1(1)(2), Mumbai vs. Housing Development Finance Corporartion Ltd., Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 2861/MUM/2017[2011-12]Status: DisposedITAT Mumbai28 Jan 2025AY 2011-12

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advoc

…as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additio…

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. DCIT RG 1(1), Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 2609/MUM/2017[2011-12]Status: DisposedITAT Mumbai28 Jan 2025AY 2011-12

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

…s perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additi…

DCIT 1(1)(2), Mumbai vs. Housing Development Finance Corporation Ltd, Mumbai

ITA 2326/MUM/2017[2009-10]Status: DisposedITAT Mumbai28 Jan 2025AY 2009-10

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Josh

…s perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additi…

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. Addl CIT RG 1(1), Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 2093/MUM/2017[2009-10]Status: DisposedITAT Mumbai28 Jan 2025AY 2009-10

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and

…ble as perquisite in HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additi…

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. DCIT 1(1), Mumbai

ITA 2867/MUM/2012[2006-07]Status: DisposedITAT Mumbai28 Jan 2025AY 2006-07

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and Shri Ninad Patade, CAFor Respondent: Shri Biswanath Das, CIT DR
Section 1

…taxable as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28.2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additional ground…

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. Addl CIT RG 1(1), Mumbai

ITA 5033/MUM/2010[2006-07]Status: DisposedITAT Mumbai28 Jan 2025AY 2006-07

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and Shri Ninad Patade, CAFor Respondent: Shri Biswanath Das, CIT DR
Section 1

…taxable as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28.2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additional ground…

Hdfc Bank Limited (As Successor to Housing Development Finance Corporation Ltd), Mumbai vs. DCIT RG 1(1), Mumbai

ITA 4313/MUM/2010[2002-03]Status: DisposedITAT Mumbai28 Jan 2025AY 2002-03

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and Shri Ninad Patade, CAFor Respondent: Shri Biswanath Das, CIT DR
Section 1

…taxable as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28.2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additional ground…

Addl CIT RG 1(1), Mumbai vs. Hdfc Ltd, Mumbai

ITA 3785/MUM/2009[2004-05]Status: DisposedITAT Mumbai28 Jan 2025AY 2004-05

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and Shri Ninad Patade, CAFor Respondent: Shri Biswanath Das, CIT DR
Section 1

…taxable as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28.2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additional ground…

DCIT Cir 1(1), Mumbai vs. M/S Housing Developement Finance Corporation Ltd, Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 4161/MUM/2007[2002-2003]Status: DisposedITAT Mumbai28 Jan 2025AY 2002-2003

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and
Section 1

…as perquisite in 93 HDFC Bank Ltd. ITA No.4315/MUM/2007 and Ors. AYs 2002-03 to 2020-21 the hands of employees and is subjected to TDS as applicable. He placed reliance on the decision of Co-ordinate Bench in the case of HDFC Bank Ltd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of assessee. He also took note of the fact about relief granted by ld. CIT(A) in assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- 21. 28. 2. In so far as this claim is concerned, the following would be relevant: i. For Assessment Year 2013-14, this issue is raised by way of filing an additi…

Onward Technologies Ltd, Mumbai vs. DCIT 7(1), Mumbai

In the result, the assessee’ appeal stand partly allowed whereas the revenue’s appeal stands dismissed

ITA 266/MUM/2014[2008-09]Status: DisposedITAT Mumbai02 Aug 2021AY 2008-09

Bench: Hon’Ble Shri Amarjit Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. No.266/Mum/2014 (धििाारण वर्ा / Assessment Year: 2008-09) & आयकरअपील सं./ I.T.A. No.1785/Mum/2014 (धििाारण वर्ा / Assessment Year: 2009-10) Onward Technologies Limited Dcit-7(1) Sterling Centre, 2Nd Floor Room No.622, 6Th Floor बिाम/ Dr. Annie Besant Road Aaykar Bhavan, M.K. Marg Vs. Worli, Mumbai-400 018 Mumbai-400 020 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No. Aaaco-3742-J (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & आयकरअपील सं./ I.T.A. No.1793/Mum/2014 (धििाारण वर्ा / Assessment Year: 2009-10) Dcit-7(1) Onward Technologies Limited Room No.622, 6Th Floor बिाम/ Sterling Centre, 2Nd Floor Aaykar Bhavan, M.K. Marg Dr. Annie Besant Road Vs. Mumbai-400 020 Worli, Mumbai-400 018 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No. Aaaco-3742-J (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : S/Shri J.P. Bairagra & Ashish Bairagra - Ld. Ars Revenue By : Shri Manpreet S. Duggal- Ld. Sr. Dr सुनवाई की तारीख/ : 23/07/2021 Date Of Hearing घोषणा की तारीख / : 02/08/2021 Date Of Pronouncement

For Appellant: S/Shri J.P. Bairagra & Ashish Bairagra - Ld. ARsFor Respondent: Shri Manpreet S. Duggal- Ld. Sr. DR
Section 10ASection 92Section 92B

…n Limited V/s DCIT (144 ITD 21) as approved by Hon’ble Karnataka High Court which is reported at 121 Taxmann.com 351. Similar is the decision of Hon’ble Madras High Court in PVP Ventures Ltd. (211 Taxman 554) and decision of Mumbai Tribunal in HDFC Bank Ltd. (155 ITD 765) where such expenses has been held to be an allowable expenditure. Therefore, we direct Ld. AO to allow the expenditure after due verification. This ground stand allowed for statistical purposes. 1.3 The only ground that remains to be adjudicated is ground no.2 wherein the assessee is aggrieved by confirmation of certain transfer pricing (TP) adj…

HDFC Bank Ltd. v. DCIT (155 ITD 765) — Cited in 20 Judgments | BharatTax