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

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

…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-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 \nas per the table below:\n\nSr

…perquisite in \n\nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \nthe hands of employees and is subjected to TDS as applicable. He placed \nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank \nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of \nassessee. He also took note of the fact about relief granted by ld. CIT(A) \nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- \n21. \n\n28. 2. In so far as this claim is concerned, the following would be \nrelevant:\n\ni. For Assessment Year 2013-14, this issue is raised by way of \nfiling a…

ACIT-1(1)(1), MUMBAI vs. M/S. HOUSING DEVELOPMENT FINANCE CORPORATION LTD., DELHI

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

…quisite in \n93 \nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \nthe hands of employees and is subjected to TDS as applicable. He placed \nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank \nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of \nassessee. He also took note of the fact about relief granted by ld. CIT(A) \nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- \n21. \n28. 2. In so far as this claim is concerned, the following would be \nrelevant: \ni. For Assessment Year 2013-14, this issue is raised by way of \nfiling an a…

HDFC BANK LIMITED (AS SUCCESSOR TO HOUSING DEVELOPMENT FINANCE CORPORATION LTD),MUMBAI vs. DCIT RANGE-1(1)(2), MUMBAI

…rquisite in\n\n\n92\nHDFC Bank Ltd.\nITA No.4315/MUM/2007 and Ors.\nAYs 2002-03 to 2020-21\n\nthe hands of employees and is subjected to TDS as applicable. He placed\nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank\nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of\nassessee. He also took note of the fact about relief granted by ld. CIT(A)\nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020-\n21.\n\n28. 2. In so far as this claim is concerned, the following would be\nrelevant:\ni. For Assessment Year 2013-14, this issue is raised by way of\nfiling an additi…

DCIT - 1(1)(2), MUMBAI vs. HOUSING DEVELOPMENT FINANCE CORPORARTION LTD., MUMBAI

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 additio…

DCIT - 1(1)(2), MUMBAI vs. HOUSING DEVELOPMENT FINANCE CORPORARTION LTD., MUMBAI

In the result, appeals of both, assessee and revenue are decided \nas per the table below: \n\nSr

…isite in \n\n93 \nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \nthe hands of employees and is subjected to TDS as applicable. He placed \nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank \nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of \nassessee. He also took note of the fact about relief granted by ld. CIT(A) \nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020-\n21. \n\n28. 2. In so far as this claim is concerned, the following would be \nrelevant: \n\ni. For Assessment Year 2013-14, this issue is raised by way of \nfiling a…

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 \nas per the table below: \n\nSr

…ite in \n\n93 \nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \n\nthe hands of employees and is subjected to TDS as applicable. He placed \nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank \nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of \nassessee. He also took note of the fact about relief granted by ld. CIT(A) \nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- \n21. \n\n28. 2. In so far as this claim is concerned, the following would be \nrelevant: \n\ni. For Assessment Year 2013-14, this issue is raised by way of \nfiling…

DCIT 1(1)(2), MUMBAI vs. HOUSING DEVELOPMENT FINANCE CORPORATION LTD, MUMBAI

Accordingly, ground so raised for Assessment \nYear 2004-05 is dismissed as infructuous

…ite in \n\n93 \nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \n\nthe hands of employees and is subjected to TDS as applicable. He placed \nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank \nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of \nassessee. He also took note of the fact about relief granted by ld. CIT(A) \nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- \n21. \n\n28. 2. In so far as this claim is concerned, the following would be \nrelevant: \n\ni. For Assessment Year 2013-14, this issue is raised by way of \nfiling…

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 \nas per the table below: \n\n| Sr

…perquisite in \n\nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \nthe hands of employees and is subjected to TDS as applicable. He placed \nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank \nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of \nassessee. He also took note of the fact about relief granted by ld. CIT(A) \nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- \n21. \n\n28. 2. In so far as this claim is concerned, the following would be \nrelevant: \n\ni. For Assessment Year 2013-14, this issue is raised by way of \nfiling…

HDFC BANK LIMITED (AS SUCCESSOR TO HOUSING DEVELOPMENT FINANCE CORPORATION LTD),MUMBAI vs. DCIT 1(1), MUMBAI

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…

HDFC BANK LIMITED (AS SUCCESSOR TO HOUSING DEVELOPMENT FINANCE CORPORATION LTD),MUMBAI vs. ADDL CIT RG 1(1), MUMBAI

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…

HDFC BANK LIMITED (AS SUCCESSOR TO HOUSING DEVELOPMENT FINANCE CORPORATION LTD),MUMBAI vs. DCIT RG 1(1), MUMBAI

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…

ADDL CIT RG 1(1), MUMBAI vs. HDFC LTD, MUMBAI

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…

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 \nas per the table below: \n\nSr

…isite in \n\n93 \nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \nthe hands of employees and is subjected to TDS as applicable. He placed \nreliance on the decision of Co-ordinate Bench in the case of HDFC Bank \nLtd. vs. DCIT [2015] 155 ITD 765 (Mum) for allowing the claim of \nassessee. He also took note of the fact about relief granted by ld. CIT(A) \nin assessee’s own case for Assessment Years 2013-14, 2016-17 to 2020- \n21. \n\n28. 2. In so far as this claim is concerned, the following would be \nrelevant: \n\ni. For Assessment Year 2013-14, this issue is raised by way of \nfiling…

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

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

…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…