Jute Corporation of India v. CIT

Aditya Birla Sun Life Amc Limited, Maharashtra vs. The Deputy Commissioner of Income Tax- Circle 6(1)(1), Maharashtra

Bench: Shri Amit Shukla & Shri Makarand Vasant Mahadeokar1. Ita No. 6663/Mum/2025 (Assessment Year: 2017-18) 2. Ita No. 6701/Mum/2025 (Assessment Year: 2018-19) 3. Ita No. 6702/Mum/2025 (Assessment Year: 2022-23) & 4. Ita No. 6703/Mum/2025 (Assessment Year: 2023-24) Aditya Birla Sun Life Dcitcircle-6(1)(1), Amc Limited, Room No. 502, 5Th 17Th Floor, One World Vs. Floor, Aayakar Centre Tower-1, Jupiter Bhavan, M. K. Mill Compount, 841, Road, Churchgate, Senapati Bapat Marg, Mumbai-400 020 Delisle Road, S.O. Mumbai-400 013 Pan/Gir No. Aaacb6134D (Applicant) (Respondent) Assessee By Shri Ronak Doshi, Shri Shrey Agrawal & Shri Aadish Jain, Ld. Ars Revenue By Shri Surendra Mohan, Ld. Dr Date Of Hearing 27.01.2026 Date Of Pronouncement 06.02.2026

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI MAKARAND VASANT MAHADEOKAR, ACCOUNTANT MEMBER 1. ITA No. 6663/Mum/2025 (Assessment Year: 2017-18) 2. ITA No. 6701/Mum/2025 (Assessment Year: 2018-19) 3. ITA No. 6702/Mum/2025 (Assessment Year: 2022-23) & 4. ITA No. 6703/Mum/2025 (Assessment Year: 2023-24) Aditya Birla Sun Life DCITCircle-6(1)(1), AMC Limited, Room No. 502, 5th 17th floor, One World Vs. floor, Aayakar Centre Tower-1, Jupiter Bhavan, M. K. Mill Compount, 841, Road, Churchgate, Senapati Bapat Marg, Mumbai-400 020 Delisle Road, S.O. Mumbai-400 013 P…

Aditya Birla Sun Life Amc Limited, Maharashtra vs. The Deputy Commissioner of Income Tax-Circle 6(1)(1), Maharashtra

…ITA No. 6663, 6701, 6702 & 6703/Mum/2025 Aditya Birla Sun Life AMC Limited आदेश / ORDER PER BENCH: These four appeals are filed by the assessee against the respective orders passed by the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as "CIT(A)"], under section 250 of the Income-tax Act, 1961 [hereinafter referred to as "the Act"], all dated 25.08.2025, arising out of the assessment orders passed by the Assessing Officer. Since these appeals were heard together and are being disposed of by this consolidated order for the sake of convenience. Facts of the Cas…

Aditya Birla Sun Life Amc Limited, Maharashtra vs. The Deputy Commissioner of Income Tax- Circle 6 (1)(1), Maharashtra

Accordingly, this ground is allowed

…ITA No. 6663, 6701, 6702 & 6703/Mum/2025 Aditya Birla Sun Life AMC Limited आदेश / ORDER PER BENCH: These four appeals are filed by the assessee against the respective orders passed by the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as “CIT(A)”], under section 250 of the Income-tax Act, 1961 [hereinafter referred to as “the Act"], all dated 25.08.2025, arising out of the assessment orders passed by the Assessing Officer. Since these appeals were heard together and are being disposed of by this consolidated order for the sake of convenience. Facts of the Cas…

Aditya Birla Sun Life Amc Limited, Maharashtra vs. The Deputy Commissioner of Income Tax Circle 6(1)(1), Maharashtra

Accordingly, this ground is allowed

…ITA No. 6663, 6701, 6702 & 6703/Mum/2025 Aditya Birla Sun Life AMC Limited आदेश / ORDER PER BENCH: These four appeals are filed by the assessee against the respective orders passed by the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as “CIT(A)”], under section 250 of the Income-tax Act, 1961 [hereinafter referred to as “the Act”], all dated 25.08.2025, arising out of the assessment orders passed by the Assessing Officer. Since these appeals were heard together and are being disposed of by this consolidated order for the sake of convenience. Facts of the Cas…

Yes Bank Limited, Mumbai vs. DCIT 2 (2)(2), Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

…e decision of Ultratech Cement Ltd. (supra) of ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 Hon'ble Bombay High Court. He also referred to the decision of Hon'ble Supreme Court in case of Jute Corporation of India Vs. CIT 189 ITR 688 and National Thermal Power Company Limited Vs. CIT [1998] 229 ITR 383 (SC). 041. On the merits of the case about the allowability of the deduction, he submitted that now Hon'ble Karnataka High Court in the case of CIT vs. Biocon Limited 270 taxman 1, [2021] 131 taxmann.com 187 (Kar.) and Hon'ble Delhi High Court in CIT vs. Lemon Tree Hotels (P).…

Yes Bank Ltd., Mumbai vs. DCIT 2(2)(2), Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

…e decision of Ultratech Cement Ltd. (supra) of ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 Hon'ble Bombay High Court. He also referred to the decision of Hon'ble Supreme Court in case of Jute Corporation of India Vs. CIT 189 ITR 688 and National Thermal Power Company Limited Vs. CIT [1998] 229 ITR 383 (SC). 041. On the merits of the case about the allowability of the deduction, he submitted that now Hon'ble Karnataka High Court in the case of CIT vs. Biocon Limited 270 taxman 1, [2021] 131 taxmann.com 187 (Kar.) and Hon'ble Delhi High Court in CIT vs. Lemon Tree Hotels (P).…

Yes Bank Limited, Mumbai vs. DCIT - 2(2)(2), Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

…e decision of Ultratech Cement Ltd. (supra) of ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 Hon'ble Bombay High Court. He also referred to the decision of Hon'ble Supreme Court in case of Jute Corporation of India Vs. CIT 189 ITR 688 and National Thermal Power Company Limited Vs. CIT [1998] 229 ITR 383 (SC). 041. On the merits of the case about the allowability of the deduction, he submitted that now Hon'ble Karnataka High Court in the case of CIT vs. Biocon Limited 270 taxman 1, [2021] 131 taxmann.com 187 (Kar.) and Hon'ble Delhi High Court in CIT vs. Lemon Tree Hotels (P).…

DCIT- 2(2)(2), Mumbai vs. Yes Bank Ltd., Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

…e decision of Ultratech Cement Ltd. (supra) of ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 Hon'ble Bombay High Court. He also referred to the decision of Hon'ble Supreme Court in case of Jute Corporation of India Vs. CIT 189 ITR 688 and National Thermal Power Company Limited Vs. CIT [1998] 229 ITR 383 (SC). 041. On the merits of the case about the allowability of the deduction, he submitted that now Hon'ble Karnataka High Court in the case of CIT vs. Biocon Limited 270 taxman 1, [2021] 131 taxmann.com 187 (Kar.) and Hon'ble Delhi High Court in CIT vs. Lemon Tree Hotels (P).…

DCIT- 2(2)(2), Mumbai vs. Yes Bank Ltd., Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

…e decision of Ultratech Cement Ltd. (supra) of ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 Hon'ble Bombay High Court. He also referred to the decision of Hon'ble Supreme Court in case of Jute Corporation of India Vs. CIT 189 ITR 688 and National Thermal Power Company Limited Vs. CIT [1998] 229 ITR 383 (SC). 041. On the merits of the case about the allowability of the deduction, he submitted that now Hon'ble Karnataka High Court in the case of CIT vs. Biocon Limited 270 taxman 1, [2021] 131 taxmann.com 187 (Kar.) and Hon'ble Delhi High Court in CIT vs. Lemon Tree Hotels (P).…

DCIT 2(2)(2), Mumbai vs. Yes Bank Ltd., Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

…e decision of Ultratech Cement Ltd. (supra) of ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 Hon'ble Bombay High Court. He also referred to the decision of Hon'ble Supreme Court in case of Jute Corporation of India Vs. CIT 189 ITR 688 and National Thermal Power Company Limited Vs. CIT [1998] 229 ITR 383 (SC). 041. On the merits of the case about the allowability of the deduction, he submitted that now Hon'ble Karnataka High Court in the case of CIT vs. Biocon Limited 270 taxman 1, [2021] 131 taxmann.com 187 (Kar.) and Hon'ble Delhi High Court in CIT vs. Lemon Tree Hotels (P).…

M/S.Vighnaharta Builders & Projects Private Limited, Mumbai vs. Addl.CIT, Range-7(3), Mumbai

In the result, the appeal is allowed for statistical purposes

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2010-11 M/S Vighnaharta Builders Acit Range 7(3), Aayakar Bhavan & Projects Pvt. Ltd., 47-1/8 M.K. Road, Churchgate, Mumbai- Vs. Shree Ganesh Nagar, 400020. Lalbaug, Mumbai-400012. Pan No. Aaacv3498G Appellant Respondent

…GM has approved the project by compounding fees, which is not in the nature of offence nor prohibition of any law. Hence, it is allowable u/s 37(1) of the Act. " Relying on the decision in NTPC v. CIT 229 ITR 383 (SC) and Jute Corporation of India Ltd. v. CIT 189 ITR 688 (SC), the Ld. counsel submits that the additional ground filed by the assessee be considered while disposing the appeal. 5.1 The Ld. counsel further submits that the assessee had submitted the following break up of payment made to MCGM in their letter dated 19.01.2009 to the AO S. No. Particulars Amount in Rs. 1 Penalty towards finishing work do…

Yuvak Ventrures Private Limited (Successors to Aikone Marketing and Management Services Private Limited, Mumbai vs. Deputy Commissioner of Income Tax 8(2)(3), Mumbai

Bench: Shri Shamim Yahya & Shri Amarjit Singhm/S. Yuvak Ventures Pvt. Ltd., (As Successors To Aikone Marketing & Management Services Pvt. Ltd.,) 405/408, B ……………. Appellant Wing, Navbharat Estate Zakaria Bunder Road Sewree, Mumbai – 400 015 Pan No:Aagca6159B V/S

…rds the excess suo-moto disallowance of interest amounting to Rs. 4.03,64,646.” 5. For the admission of aforesaid grounds, assessee’s Counsel has placed reliance upon the following case laws:-  Jute Corporation of India Ltd., vs. CIT and Another reported in 189 ITR 688(SC) 4  National Thermal Power Co. Ltd., vs. CIT reported in 229 ITR 383 (SC) 6. Brief facts of this issue are that during the year under consideration, the assessee received dividend income of Rs. 1,58,11,448/- which was exempt u/s. 10(34) of the Act. The assessee calculated the disallowance u/s. 14A read with Rule 8D at Rs. 4,06,17,945/- and s…