Maxopp Investment Ltd. v. CIT

402 ITR 640Supreme Court of India2018#21 most cited

What is Maxopp Investment Ltd. v. CIT authority for?

Disallowance under Section 14A is not automatic and requires the Assessing Officer to record satisfaction before applying Rule 8D. Only investments yielding exempt income are considered for disallowance, irrespective of their strategic nature.

1,596

judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2016 to 2026.

Also referred to as

Maxopp Investment Ltd v CIT · Maxopp SC 2018 · Section 14A disallowance · Rule 8D application · expenditure for exempt income · only dividend bearing investments · satisfaction Section 14A(2) · strategic investment disallowance · disallowance not automatic · 402 ITR 640

Also reported as

91 Taxmann.com 154254 Taxmann 325301 CTR 489

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 8DSection 37(1)Section 1961Section 250Section 143(2)
Read the full judgment

Issues it is cited on

section 14a(1)section 14a(2)strategic investmentdisallowance under section 14adisallowance u/s 14asection 10(34)section 14asection 36(1)(vii)section 40a(2)enduring benefitbook profitssection 115j

Judgments citing Maxopp Investment Ltd. v. CIT

Assistant Commissioner of Income Tax, Circle -1(1)(1), Surat vs. Enviro Control Pvt. Ltd., Surat

In the result, the appeal is partly allowed

ITA 274/SRT/2022[2013-14]Status: DisposedITAT Surat18 Jan 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.274 & 307/Srt/2022 ("नधा"रण वष" /Assessment Years: (2013-14 & 2017-18) (Virtual Court Hearing) Assistant Commissioner Of Enviro Control Pvt. Ltd., Income-Tax, Circle-1(1)(1), Vs. Enviro House, Opp. Bank Of Surat, Room No.108, 1St Floor, Maharshtra, Ghod Dod Road, Surat- Aayakar Bhawan, Majura 395007 Gate, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 8700 C (Assessee) (Respondent)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA No.274 & 307/SRT/2022 ("नधा"रण वष" /Assessment Years: (2013-14 & 2017-18) (Virtual Court Hearing) Assistant Commissioner of Enviro Control Pvt. Ltd., Income-tax, Circle-1(1)(1), Vs. Enviro House, Opp. Bank of Surat, Room No.108, 1st Floor, Maharshtra, Ghod Dod Road, Surat- Aayakar Bhawan, Majura 395007 Gate, Surat "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACE 8700 C (Assessee) (Respondent) "नधा"रती क" ओर से /Assessee by Shri Ankur A Shah, AR राज"व क" ओर से /Revenue by Shri Vinod Kumar, Sr. DR…

M/S. Checons Limited, Kolkata vs. A.C.I.T., Circle-12(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 629/KOL/2022[2017-2018]Status: DisposedITAT Kolkata17 Jan 2023AY 2017-2018

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 14ASection 94(7)

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘‘एसएमसी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH: KOLKATA "ी राजेश कुमार, लेखा सद"य एवं "ी संजय शमा" "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 629/Kol/2022 Assessment Year: 2017-18 M/s Checons Ltd. Vs. ACIT, Circle-12(1), Kolkata (PAN: AABCC 4170 B) Appellant / (अपीलाथ") Respondent / ( !यथ") 19.12.2022 Date of Hearing / सुनवाई क$ "त&थ Date of Pronouncement/ 17.01.2023 आदेश उ)घोषणा क$ "त&थ For the Appellant/ Shri A.K. Tulsiyan, FCA "नधा"/रती क$ ओर से For the Respondent/ Shri Vijay Kumar, Add…

Addl CIT RG 8(2), Mumbai vs. Oracle Financial Services Software Ltd ( Formerly Known M.S, I-Flex Solutions Ltd), Mumbai

In the result, appeal is dismissed

ITA 5079/MUM/2010[2005-06]Status: DisposedITAT Mumbai16 Jan 2023AY 2005-06

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2005-06 M/S. Oracle Financial Additional Commissioner Services Software Ltd. Of Income Tax, (Formerly Known As I-Flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 Pan: Aaacc1448B (Appellant) (Respondent) Assessment Year: 2005-06 Dcit 8(2), M/S. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly Known As I-Flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400020 399, Subhash Road, Vile Parle (East), Mumbai – 400 057 Pan: Aaacc1448B (Appellant) (Respondent)

For Appellant: Shri Ajit Jain, A.R. &For Respondent: Dr. Yogesh Kamat, CIT D.R
Section 10ASection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “K”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2005-06 M/s. Oracle Financial Additional Commissioner Services Software Ltd. of Income Tax, (Formerly known as I-flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 PAN: AAACC1448B (Appellant) (Respondent) Assessment Year: 2005-06 DCIT 8(2), M/s. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly known as i-flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400…

Oracle Financial Services Software Ltd ( Formerly Knwoan As I-Flex Solutions Ltd ), Mumbai vs. Addl CIT RG 8(2), Mumbai

In the result, appeal is dismissed

ITA 4489/MUM/2010[2005-06]Status: DisposedITAT Mumbai16 Jan 2023AY 2005-06

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2005-06 M/S. Oracle Financial Additional Commissioner Services Software Ltd. Of Income Tax, (Formerly Known As I-Flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 Pan: Aaacc1448B (Appellant) (Respondent) Assessment Year: 2005-06 Dcit 8(2), M/S. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly Known As I-Flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400020 399, Subhash Road, Vile Parle (East), Mumbai – 400 057 Pan: Aaacc1448B (Appellant) (Respondent)

For Appellant: Shri Ajit Jain, A.R. &For Respondent: Dr. Yogesh Kamat, CIT D.R
Section 10ASection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “K”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2005-06 M/s. Oracle Financial Additional Commissioner Services Software Ltd. of Income Tax, (Formerly known as I-flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 PAN: AAACC1448B (Appellant) (Respondent) Assessment Year: 2005-06 DCIT 8(2), M/s. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly known as i-flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400…

State Bank of India, Mumbai vs. DCIT, Mumbai

In the result, the present appeal is partly allowed

ITA 2446/MUM/2021[2015-16]Status: DisposedITAT Mumbai10 Jan 2023AY 2015-16
For Appellant: Shri Ketan Ved & Ms. ShraddhaFor Respondent: Shri Sanyam Suresh Joshi
Section 143(3)Section 14ASection 254

…that appellant had been continuously treating securities as stock in trade and there has been no change in the method over since from year when the appellant‟s appeal against disallowance u/s 14A was decided in its favour by Hon‟ble Supreme Court reported in 402 ITR 640 and therefore, question of any disallowance u/s 14A does not arise. 4. The ld. CIT(A) failed to take into consideration the submission that since interest free funds far exceed the investments in securities earning tax free income as held by Hon‟ble Supreme Court in appellants own case reported in 432 ITR 1, no disallowance u/s 14A was warranted…

Nucleus Software Exports Ltd, New Delhi vs. ACIT Circle-18(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 9679/DEL/2019[2016-17]Status: DisposedITAT Delhi09 Jan 2023AY 2016-17

Bench: Shri Shamim Yahya & Shri N. K. Choudhry[Assessment Year: 2016-17]

Section 115JSection 143(2)Section 14A

…sessment order, we find that the Assessing Officer having regard to the suo moto disallowance made by the assessee has not recorded any objective satisfaction as to why the allocation of indirect income. 10. In the case of Maxopp Investment Ltd. Vs. CIT [2018 402 ITR 640 the Hon’ble Supreme Court held as under:- “ 41) Having regard to the language of Section 14A(2) of the Act, read with Rule 8D of the Rules, we also make it clear that before applying the theory of apportionment, the AO needs to record satisfaction that having regard to the kind of the assessee, suo moto disallowance under Section 14A was not corr…

Group Housing Development Corporation Pvt. Ltd., Mumbai vs. DCIT - CC -5(4), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 1893/MUM/2019[2015-16]Status: DisposedITAT Mumbai06 Jan 2023AY 2015-16

Bench: The Regulatory Authorities. In View Of The Continuous Non-Cooperation From The Side Of The Assessee, We Deem It Fit To Dispose Of This Appeal By Hearing The Ld. Dr & Based On The Materials Available On Record.

Section 115JSection 143(3)Section 14ASection 234B

…herein is whether the disallowance u/s.14A of the Act would at all come into operation in the absence of any exempt income. This issue is no longer res integra in view of the decision of the Hon’ble Supreme Court in the case of Maxopp Investments reported in 402 ITR 640 wherein it was held that disallowance u/s.14A of the Act could not be made in the absence of any exempt income. We find that the provisions of Section 14A of the Act had been amended by the Finance Act 2022 w.e.f. 01/04/2022 by way of insertion of an Explanation which reads as under:- “[Explanation-For the removal of doubts, it is hereby clarifi…

M/S Serveall Construction Pvt. Ltd., Vasai vs. Dy. CIT Central 5(4), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 1892/MUM/2019[2015-16]Status: DisposedITAT Mumbai06 Jan 2023AY 2015-16

Bench: The Regulatory Authorities. In View Of The Continuous Non-Cooperation From The Side Of The Assessee, We Deem It Fit To Dispose Of This Appeal By Hearing The Ld. Dr & Based On The Materials Available On Record.

Section 115JSection 143(3)Section 14ASection 234BSection 43B

…herein is whether the disallowance u/s.14A of the Act would at all come into operation in the absence of any exempt income. This issue is no longer res integra in view of the decision of the Hon’ble Supreme Court in the case of Maxopp Investments reported in 402 ITR 640 wherein it was held that disallowance u/s.14A of the Act could not be made in the absence of any exempt income. We find that the provisions of Section 14A of the Act had been amended by the Finance Act 2022 w.e.f. 01/04/2022 by way of insertion of an Explanation which reads as under:- 4 M/s. Serveall Construction Pvt. Ltd. “[Explanation-For the…

ACIT, New Delhi vs. M/S. India Bulls Power Ltd., New Delhi

The appeals are dismissed in regard to the first question

ITA 2013/DEL/2017[2011-12]Status: DisposedITAT Delhi05 Jan 2023AY 2011-12

Bench: Shri Anil Chaturvedi & Ms. Astha Chandraasstt. Year: 2011-12 Acit, Vs. India Bulls Power Ltd. (Now Known Circle-21(1), As Rattan India Power Ltd.) New Delhi. 5Th Floor, Tower-B, Worldmark-1, Aerocity, New Delhi- 110 037 Pan Aalcs2063D (Appellant) (Respondent)

For Appellant: Shri Ajay Wadhwa, AdvocateFor Respondent: Shri Anuj Garg, Sr. DR
Section 10Section 143(3)Section 14ASection 154

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Asstt. Year: 2011-12 ACIT, Vs. India Bulls Power Ltd. (Now known Circle-21(1), as Rattan India Power Ltd.) New Delhi. 5th Floor, Tower-B, Worldmark-1, Aerocity, New Delhi- 110 037 PAN AALCS2063D (Appellant) (Respondent) Assessee by: Shri Ajay Wadhwa, Advocate Ms. Ragini Handa, CA Department by : Shri Anuj Garg, Sr. DR Shri Abhishek Kumar, Sr. DR Date of Hearing 29.11.2022 Date of 05.01.2023 pronouncement O R D E R PER ASTHA CHANDRA, JM The appeal by the Revenue is direc…

ACIT, CC-26, New Delhi vs. Alchemist Limited, Delhi

The appeal of the revenue is dismissed

ITA 36/DEL/2022[2014-15]Status: DisposedITAT Delhi03 Jan 2023AY 2014-15

Bench: Sh. Pradip Kumar Kedia & Sh. Anubhav Sharmaacit, Vs. Alchemist Limited 23, 3Rd Floor, Ara Centre, Cc-26, New Delhi Jhandewalan Ext., New Delhi-110055 Pan : Aabct1238R Appellant Respondent

Section 14ASection 153A

…s. Caraf Builders and Constructions Pvt. Ltd. (2019) 101 taxmann.com 167 (Del.), in which Hon’ble Delhi High Court has also 36/Del/2022 M/s. Alchemist Ltd. 3 considered the judgment of Hon’ble Supreme Court of India in Maxopp Investments Ltd. vs. CIT (2018) 402 ITR 640(SC). 5. In the light of aforesaid there is no substances in the ground raised. The appeal of the revenue is dismissed. Order pronounced in the open court on 3rd January, 2023. (PRADIP KUMAR KEDIA) JUDICIAL MEMBER Date:- 03.01.2023 *Binita, SR.P.S*…

Dy CIT Cent. Cir.-8(2), Mumbai vs. M/S. Raj Wespower P. Ltd., Mumbai

In the result, all the appeals of the In the result, all the appeals of the Revenue are allowed partly are allowed partly for statistical purposes

ITA 1884/MUM/2020[2014-15]Status: DisposedITAT Mumbai30 Dec 2022AY 2014-15

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2014-15 Dcit-Cc-8(3), M/S Jsw Energy (Barmer) Room No. 656, 6Th Floor, Limited, (Formerly Known Aayakar Bhavan, Vs. As M/S Raj Westpower Pvt. M.K. Road, Ltd.), Jindal Mansion, 5A, Mumbai-400020. Dr. G. Deshmukh Marg, Mumbai-400026. Pan No. Aaacr 8812 L Appellant Respondent : Revenue By Mr. T. Shankar, Cit-Dr & Smt. Mahita Nair, Dr Assessee By : Mr. Rakesh Joshi, Ar : Date Of Hearing 18/10/2022 : Date Of Pronouncement 30/12/2022

For Appellant: Mr. Rakesh Joshi, ARFor Respondent: Revenue by Mr. T. Shankar, CIT-DR &

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2014-15 DCIT-CC-8(3), M/s JSW Energy (Barmer) Room No. 656, 6th floor, Limited, (Formerly known Aayakar Bhavan, Vs. as M/s Raj Westpower Pvt. M.K. Road, Ltd.), Jindal Mansion, 5A, Mumbai-400020. Dr. G. Deshmukh Marg, Mumbai-400026. PAN No. AAACR 8812 L Appellant Respondent : Revenue by Mr. T. Shankar, CIT-DR & Smt. Ma…

Til Limited, Kolkata vs. D.C.I.T., Circle-1(2), Kolkata

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

ITA 558/KOL/2022[2014-2015]Status: DisposedITAT Kolkata23 Dec 2022AY 2014-2015

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 14A

…disallowance which is not correct as the recording of satisfaction is pre-requisite for invoking provisions of Section 14A of the Act which is in consonance with the ratio laid down by the Hon’ble Supreme Court in the case Maxopp Investment reported in (2018) 402 ITR 640 (SC). On this score alone the order of ld CIT(A) cannot be sustained. On the issue of retrospective application amendment brought by Finance Act, 2022 to Section 14A of the Act by inserting non-obstante clause and explanation to Section 14A of the Act, we find that the issue has been decided by the Hon’ble Delhi High Court in the case of Era Infr…

DCIT- CC- 7 (1), Mumbai vs. Shree Global Tradefin Ltd., Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 1374/MUM/2022[2017-18]Status: DisposedITAT Mumbai22 Dec 2022AY 2017-18

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Dcit, Central Circle 7(1) Shree Global Tradefin Ltd. Mumbai 35, Ashok Chambers, Vs. Broach Street, Devji Ratansey Marg, Mumbai-400 009 Pan/Gir No. Aaacb 2975 J (Revenue) : (Assessee)

For Appellant: Shri Vijay MehtaFor Respondent: Shri Vranda U. Matkarni
Section 10(38)Section 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM DCIT, Central Circle 7(1) Shree Global Tradefin Ltd. Mumbai 35, Ashok Chambers, Vs. Broach Street, Devji Ratansey Marg, Mumbai-400 009 PAN/GIR No. AAACB 2975 J (Revenue) : (Assessee) Cross Objection No. 115/Mum/2022 (Arising out of ITA No. 1374/Mum2022) (Assessment Year: 2017-18) Shree Global Tradefin Ltd. DCIT, Central Circle 7(1) 35, Ashok Chambers, Mumbai Vs. Broach Street, Devji Ratansey Marg, Mumbai-400 009 PAN/GIR No. AAACB 2975 J (Assessee) : (Revenue) Assessee by : Shri Vijay Mehta R…

M/S. Jai Corp Ltd., Mumbai vs. Dy CIT -Circle-6(4), Mumbai

In the result, both the appeals filed by the Revenue and assessee are dismissed

ITA 1140/MUM/2021[2015-16]Status: DisposedITAT Mumbai21 Dec 2022AY 2015-16

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Asst. Cit-3(2)(1) M/S. Jai Corporation Ltd. Room No. 674, 6Th Floor, H-B, Mittal Tower, Aayakar Bhavan, M. K. Road, Vs. Free Press Journal Marg, Mumbai-400 020 Nariman Point, Mumbai-400 021

For Respondent: Shri Vranda U. Matkarni
Section 10(34)Section 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM Asst. CIT-3(2)(1) M/s. Jai Corporation Ltd. Room No. 674, 6th Floor, H-B, Mittal Tower, Aayakar Bhavan, M. K. Road, Vs. Free Press Journal Marg, Mumbai-400 020 Nariman Point, Mumbai-400 021 PAN/GIR No. AAACJ 2591 A (Revenue) : (Assessee) & M/s. Jai Corporation Ltd. Asst. CIT-3(2)(1) Room No. 674, 6th Floor, H-B, Mittal Tower, Free Press Journal Marg, Vs. Aayakar Bhavan, M. K. Road, Nariman Point, Mumbai-400 021 Mumbai-400 020 PAN/GIR No. AAACJ 2591 A (Assessee) : (Revenue) : Shri Rajesh P. Sha…

Asstt. CIT - 3(2)(1), Mumbai vs. M/S Jal Corp. Ltd., Nynvau

In the result, both the appeals filed by the Revenue and assessee are dismissed

ITA 1872/MUM/2020[2015-16]Status: DisposedITAT Mumbai21 Dec 2022AY 2015-16

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Asst. Cit-3(2)(1) M/S. Jai Corporation Ltd. Room No. 674, 6Th Floor, H-B, Mittal Tower, Aayakar Bhavan, M. K. Road, Vs. Free Press Journal Marg, Mumbai-400 020 Nariman Point, Mumbai-400 021

For Respondent: Shri Vranda U. Matkarni
Section 10(34)Section 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM Asst. CIT-3(2)(1) M/s. Jai Corporation Ltd. Room No. 674, 6th Floor, H-B, Mittal Tower, Aayakar Bhavan, M. K. Road, Vs. Free Press Journal Marg, Mumbai-400 020 Nariman Point, Mumbai-400 021 PAN/GIR No. AAACJ 2591 A (Revenue) : (Assessee) & M/s. Jai Corporation Ltd. Asst. CIT-3(2)(1) Room No. 674, 6th Floor, H-B, Mittal Tower, Free Press Journal Marg, Vs. Aayakar Bhavan, M. K. Road, Nariman Point, Mumbai-400 021 Mumbai-400 020 PAN/GIR No. AAACJ 2591 A (Assessee) : (Revenue) : Shri Rajesh P. Sha…

Jsw Holdings Ltd., Mumbai vs. DCIT 5(3)(1), Mumbai

In the result, appeal for assessment year 2010 – 11 and appeal for assessment year 2013 – 14 is partly allowed

ITA 2535/MUM/2019[2013-14]Status: DisposedITAT Mumbai15 Dec 2022AY 2013-14

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Shri Hiro Rai, ARFor Respondent: Shri Nishant Somaiya, DR
Section 14Section 143Section 143(3)Section 14ASection 234BSection 254

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 2535/Mum/2019 (Assessment Year 2013-14) DY CIT-5(3)(1) JSW Holdings Ltd. 571, Aayakar Bhavan JSW Centre, MK Road, Bandra Kurla Complex Vs. Mumbai-400 051 Mumbai-400 020 (Appellant) (Respondent) PAN No. AABCJ1531F Assessee by : Shri Hiro Rai, AR Revenue by : Shri Nishant Somaiya, DR Date of hearing: 19.09.2022 Date of pronouncement: 15.12.2022 O R D E R PER PRASHANT MAHARISHI, AM: 01. These are two appeals of the same assessee for A.Ys. 2010-11 & 2013-14 involving similar issues of dis…

Jsw Holdings Ltd., Mumbai vs. DCIT 5(2)(1), Mumbai

In the result, appeal for assessment year 2010 – 11 and appeal for assessment year 2013 – 14 is partly allowed

ITA 2534/MUM/2019[2010-11]Status: DisposedITAT Mumbai15 Dec 2022AY 2010-11

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Shri Hiro Rai, ARFor Respondent: Shri Nishant Somaiya, DR
Section 14Section 143Section 143(3)Section 14ASection 234BSection 254

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 2535/Mum/2019 (Assessment Year 2013-14) DY CIT-5(3)(1) JSW Holdings Ltd. 571, Aayakar Bhavan JSW Centre, MK Road, Bandra Kurla Complex Vs. Mumbai-400 051 Mumbai-400 020 (Appellant) (Respondent) PAN No. AABCJ1531F Assessee by : Shri Hiro Rai, AR Revenue by : Shri Nishant Somaiya, DR Date of hearing: 19.09.2022 Date of pronouncement: 15.12.2022 O R D E R PER PRASHANT MAHARISHI, AM: 01. These are two appeals of the same assessee for A.Ys. 2010-11 & 2013-14 involving similar issues of dis…

Reliance Industrial Investments and Holdings Limited (Successor of Reliance Petro Investment Limited), Mumbai vs. Dy Commissioner of Income Tax, Circle 3(3)(1), Mumbai

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

ITA 2515/MUM/2022[2017-2018]Status: DisposedITAT Mumbai14 Dec 2022AY 2017-2018
Section 10Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, “SMC” BENCH MUMBAI BEFORE: SHRI ABY T VARKEY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER RELIANCE INDUSTRIAL Vs. DY COMMISSIONER OF INVESTMENT & HOLDING LTD. INCOME TAX CIRCLE 3(3)(1) 6th (Successor of Reliance Petro Room No 609, Floor, Investments Ltd.) Aayakar Bhava, M. K. Road, Mumbai, Maharashtra 400020 9th Floor, Maker Chambers, IV, 222, Nariman Point Mumbai, Maharashtra 400021 PAN/GIR No. AAACR5053R (Appellant) .. (Respondent) Assessee by Shri. Nimesh Vora Revenue by Shri. Shambhu Yadhav Date of Hearing 07/12/2022 Date of Pronouncement 14/12/2022 आदेश /…

ACIT, Kochi vs. Federal Bank Ltd, Aluva

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

ITA 35/COCH/2020[2010-11]Status: DisposedITAT Cochin12 Dec 2022AY 2010-11

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

For Appellant: Shri Rajesekharan, CA and Shri K.Gopi, CAFor Respondent: Smt. J. M. Jamuna Devi, Sr. DR, Cochin
Section 147Section 14ASection 154

…ce so offered by the Assessee is not being accepted. Reference in this regard was made to the following judicial pronouncements: ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 10 of 28  Maxopp Investments Ltd. Vs. CIT 402 ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxman…

ACIT, Kochi vs. Federal Bank Ltd, Aluva

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

ITA 34/COCH/2020[2009-10]Status: DisposedITAT Cochin12 Dec 2022AY 2009-10

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

For Appellant: Shri Rajesekharan, CA and Shri K.Gopi, CAFor Respondent: Smt. J. M. Jamuna Devi, Sr. DR, Cochin
Section 147Section 14ASection 154

…ce so offered by the Assessee is not being accepted. Reference in this regard was made to the following judicial pronouncements: ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 10 of 28  Maxopp Investments Ltd. Vs. CIT 402 ITR 640 (SC)  Godrej & Boyce Manufacturing Co.Ltd. 394 ITR 449(SC)  Hindustan Aeronautics Ltd. 143 Taxmann.com 357(Karn.)  West Bengal Infrastructure Development Finance Corporation Ltd. 143 Taxmann.com 135(Cal.)  Sociedade De Fomento Industrial Pvt.Ltd. 123 Taxmann.com 38 (Bom)  Marg Ltd. 120 Taxmann.com 84 (Mad)  Esillor India (P) Ltd. 137 Taxman…