Nice Bombay Transport (P.) Ltd. v. Asstt. CIT

175 ITD 684Income Tax Appellate Tribunal2019#5207 most cited

What is Nice Bombay Transport (P.) Ltd. v. Asstt. CIT authority for?

Disallowance under Section 14A read with Rule 8D concerning shares held in stock is adjudicated in favour of the assessee.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2025.

Also referred to as

Nice Bombay Transport v. Asstt. CIT · Section 14A · Rule 8D · disallowance · shares held in stock · Tribunal

Sections most often in play

Section 115JBSection 14ASection 36(1)(iii)

Issues it is cited on

section 36(1)(viia)interest on securitiesdisallowance under section 14aright to receivesection 234cmiscellaneous applicationsection 115jbook profitsmistake apparent on recordmercantile system of accountingsection 115jbsection 14a

Judgments citing Nice Bombay Transport (P.) Ltd. v. Asstt. CIT

ACIT 6(2)(1), Mumbai vs. Crompton Greaves Limited, Mumbai

In the result, the assessee’s appeal in ITA No

ITA 5295/MUM/2017[2009-10]Status: DisposedITAT Mumbai27 Sept 2019AY 2009-10

Bench: Shri A. D. Jain, Vp & Shri Rajesh Kumar, Am Asst. Cit-6(2)(1) M/S. Crompton Greaves Ltd. R. No.504/563-C, 5Th Floor, 6Th Floor, Cg House, Vs. Aayakar Bhavan, M. K. Road, Dr. Annie Besant Road, Worli, Mumbai-400 020 Mumbai-400 030 Pan/Gir No. Aaacc 2089 A (Revenue) : (Assessee) & M/S. Crompton Greaves Ltd. Asst. Cit-6(2)(1) 6Th Floor, Cg House, R. No.504/563-C, 5Th Floor, Vs. Dr. Annie Besant Road, Worli, Aayakar Bhavan, M. K. Road, Mumbai-400 030 Mumbai-400 020 Pan/Gir No. Aaacc 2089 A (Assessee) : (Revenue) : Shri A. M. Mittal Revenue By Assessee By : Shri Pradip Kapasi Date Of Hearing : 23.09.2019 Date Of Pronouncement : 27.09.2019

For Appellant: Shri Pradip Kapasi
Section 14(1)Section 14ASection 35

…re any expenditure because the investments in subsidiaries is a onetime investment and did not need any expenditure to maintain it; that it was a legacy investment. Reference in this regard has been made to Nice Bombay Transport (P.) Ltd. v. ACIT (OSD) (2019) 175 ITD 684 (Delhi)(Trib.). It has further been contended that a good part of the investments, upto Rs.92.25 crores was made in the past and it included investments in shares of substitute that did not require expenditure; that the investments were mainly in the units of the mutual funds, maintained by the fund Manager of the mutual funds and, therefore, s…

Idbi Bank Ltd., Mumbai vs. ACIT (Ltu)-2, Mumbai

In the result this ground of appeal is

ITA 3423/MUM/2018[2008-09]Status: DisposedITAT Mumbai03 Sept 2019AY 2008-09

Bench: Shri R.C. Sharma & Shri Pawan Singh

Section 115JSection 143(3)Section 147Section 148Section 254(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “C”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No. 3423/Mum/2018-(Assessment year: 2008-09) ITA No. 3424/Mum/2018-(Assessment year: 2011-12) ITA No. 3425/Mum/2018-(Assessment year: 2012-13) ITA No. 3426/Mum/2018-(Assessment year: 2013-14) IDBI Bank Ltd., DCIT-Cent. Large Tax Unit, 29th Floor, Centre -1, IDBI Tower, WTC Complex, 22nd Floor, Taxation Cell, WTC Complex, Cuffe Parade, Cuffe Parade, Vs Mumbai-400 005 Mumbai-400 005 PAN : AABCI 18842G APPELLANT RESPONDEDNT ITA No. 4041/Mum/2018-(Assessment year: 2011-12) ITA…