PCIT v. Era Infrastructure (India) Ltd.

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

…AR of the assessee further submitted that the amendment made by Finance Act, 2022 by way of insertion of Explanation to section 14A of Act, 1961 has been held to be prospective in nature by the decisions in the case of PCIT vs ERA Infrastructure (India) Ltd 448 ITR 674 (Del) and in assessee’s own case reported ITA No.32137/Mum/2021. Against ground No.3& 6, the Ld.AR of the assessee submitted that the issue is covered by the decision of Special Bench of ITAT in the case of Vireet Investments Pvt. Ltd (165 ITD 27), wherein it was held the investment which yielded exempt income is to be considered for making di…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

…AR of the assessee further submitted that the amendment made by Finance Act, 2022 by way of insertion of Explanation to section 14A of Act, 1961 has been held to be prospective in nature by the decisions in the case of PCIT vs ERA Infrastructure (India) Ltd 448 ITR 674 (Del) and in assessee’s own case reported ITA No.32137/Mum/2021. Against ground No.3& 6, the Ld.AR of the assessee submitted that the issue is covered by the decision of Special Bench of ITAT in the case of Vireet Investments Pvt. Ltd (165 ITD 27), wherein it was held the investment which yielded exempt income is to be considered for making di…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

…AR of the assessee further submitted that the amendment made by Finance Act, 2022 by way of insertion of Explanation to section 14A of Act, 1961 has been held to be prospective in nature by the decisions in the case of PCIT vs ERA Infrastructure (India) Ltd 448 ITR 674 (Del) and in assessee’s own case reported ITA No.32137/Mum/2021. Against ground No.3& 6, the Ld.AR of the assessee submitted that the issue is covered by the decision of Special Bench of ITAT in the case of Vireet Investments Pvt. Ltd (165 ITD 27), wherein it was held the investment which yielded exempt income is to be considered for making di…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

…AR of the assessee further submitted that the amendment made by Finance Act, 2022 by way of insertion of Explanation to section 14A of Act, 1961 has been held to be prospective in nature by the decisions in the case of PCIT vs ERA Infrastructure (India) Ltd 448 ITR 674 (Del) and in assessee’s own case reported ITA No.32137/Mum/2021. Against ground No.3& 6, the Ld.AR of the assessee submitted that the issue is covered by the decision of Special Bench of ITAT in the case of Vireet Investments Pvt. Ltd (165 ITD 27), wherein it was held the investment which yielded exempt income is to be considered for making di…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

…AR of the assessee further submitted that the amendment made by Finance Act, 2022 by way of insertion of Explanation to section 14A of Act, 1961 has been held to be prospective in nature by the decisions in the case of PCIT vs ERA Infrastructure (India) Ltd 448 ITR 674 (Del) and in assessee’s own case reported ITA No.32137/Mum/2021. Against ground No.3& 6, the Ld.AR of the assessee submitted that the issue is covered by the decision of Special Bench of ITAT in the case of Vireet Investments Pvt. Ltd (165 ITD 27), wherein it was held the investment which yielded exempt income is to be considered for making di…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

…AR of the assessee further submitted that the amendment made by Finance Act, 2022 by way of insertion of Explanation to section 14A of Act, 1961 has been held to be prospective in nature by the decisions in the case of PCIT vs ERA Infrastructure (India) Ltd 448 ITR 674 (Del) and in assessee’s own case reported ITA No.32137/Mum/2021. Against ground No.3& 6, the Ld.AR of the assessee submitted that the issue is covered by the decision of Special Bench of ITAT in the case of Vireet Investments Pvt. Ltd (165 ITD 27), wherein it was held the investment which yielded exempt income is to be considered for making di…

JCIT (OSD) -3(4), Mumbai vs. Sterlite Technologies Limited, Aurangabad

In the result, appeals of both, the Revenue and the assessee are dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2016-17 Sterlite Technologies Limited Principle Commissioner Of E-1 Waluj, Midc Industrial Income Tax- 27, Vs. Area, Aurangabad - 431136 Navi Mumbai Maharashtra (Pan: Aaecs8719B) (Appellant) (Respondent) Assessment Year: 2016-17 Principle Commissioner Of Sterlite Technologies Limited Income Tax- 27, E-1 Waluj, Midc Industrial Vs. Navi Mumbai Area, Aurangabad - 431136 Maharashtra (Pan: Aaecs8719B) (Appellant) (Respondent) Present For: Assessee : Shri Nikhil Tiwari & Ms. Palak Mehta, Cas Revenue : Shri Satyaprakash R. Singh, Cit Dr & Shri Leyaqat Ali Aafaqui, Sr. Dr Date Of Hearing : 30.07.2025 Date Of Pronouncement : 30.09.2025 O R D E R Per Girish Agrawal: These Two Appeals Are Filed By The Assessee & Revenue Against The Orders Of Commissioner Of Income Tax (Appeals)-13, Pune, Vide Order No. Itba/Apl/M/250/2023-24/1058725938(1), Dated Sterlite Technologies Ltd. Ay 2016-17 13.12.2023 Passed Against The Assessment Order By Acit, Ltu, Circle- 1, Mumbai, U/S. 143(3) Of The Income-Tax Act (Hereinafter Referred To As The “Act”), Dated 21.12.2018 For Assessment Year 2016-17. 2. Grounds Taken By The Assessee Are Reproduced As Under: 1.1 Erred In Upholding The Action Of The Learned Assessing Officer ('Ao') In Not Allowing The Claim Of Appellant That The Rate Of Ddt In Respect Of Dividend Distributed To Its Overseas Holding Company Ought To Be Restricted To The Rate Of Tax Of 5% Prescribed Under Article 10(2) Of Applicable India- Mauritius Dtaa & That The Appellant Is Eligible For Refund Of Ddt Paid In Excess Of Such Rate.

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2016-17 Sterlite Technologies Limited Principle Commissioner of E-1 Waluj, MIDC Industrial Income Tax- 27, Vs. Area, Aurangabad - 431136 Navi Mumbai Maharashtra (PAN: AAECS8719B) (Appellant) (Respondent) Assessment Year: 2016-17 Principle Commissioner of Sterlite Technologies Limited Income Tax- 27, E-1 Waluj, MIDC Industrial Vs. Navi Mumbai Area, Aurangabad - 431136 Maharashtra (PAN: AAECS8719B) (Appellant) (Respondent) Present for: assessee : Shri Nikhil Tiwa…

Sterlite Technologies Limited, Aurangabad vs. The Assistant Commissioner of Income Tax, Ltu Circle 1, Mumbai

In the result, appeals of both, the Revenue and the assessee are dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2016-17 Sterlite Technologies Limited Principle Commissioner Of E-1 Waluj, Midc Industrial Income Tax- 27, Vs. Area, Aurangabad - 431136 Navi Mumbai Maharashtra (Pan: Aaecs8719B) (Appellant) (Respondent) Assessment Year: 2016-17 Principle Commissioner Of Sterlite Technologies Limited Income Tax- 27, E-1 Waluj, Midc Industrial Vs. Navi Mumbai Area, Aurangabad - 431136 Maharashtra (Pan: Aaecs8719B) (Appellant) (Respondent) Present For: Assessee : Shri Nikhil Tiwari & Ms. Palak Mehta, Cas Revenue : Shri Satyaprakash R. Singh, Cit Dr & Shri Leyaqat Ali Aafaqui, Sr. Dr Date Of Hearing : 30.07.2025 Date Of Pronouncement : 30.09.2025 O R D E R Per Girish Agrawal: These Two Appeals Are Filed By The Assessee & Revenue Against The Orders Of Commissioner Of Income Tax (Appeals)-13, Pune, Vide Order No. Itba/Apl/M/250/2023-24/1058725938(1), Dated Sterlite Technologies Ltd. Ay 2016-17 13.12.2023 Passed Against The Assessment Order By Acit, Ltu, Circle- 1, Mumbai, U/S. 143(3) Of The Income-Tax Act (Hereinafter Referred To As The “Act”), Dated 21.12.2018 For Assessment Year 2016-17. 2. Grounds Taken By The Assessee Are Reproduced As Under: 1.1 Erred In Upholding The Action Of The Learned Assessing Officer ('Ao') In Not Allowing The Claim Of Appellant That The Rate Of Ddt In Respect Of Dividend Distributed To Its Overseas Holding Company Ought To Be Restricted To The Rate Of Tax Of 5% Prescribed Under Article 10(2) Of Applicable India- Mauritius Dtaa & That The Appellant Is Eligible For Refund Of Ddt Paid In Excess Of Such Rate.

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2016-17 Sterlite Technologies Limited Principle Commissioner of E-1 Waluj, MIDC Industrial Income Tax- 27, Vs. Area, Aurangabad - 431136 Navi Mumbai Maharashtra (PAN: AAECS8719B) (Appellant) (Respondent) Assessment Year: 2016-17 Principle Commissioner of Sterlite Technologies Limited Income Tax- 27, E-1 Waluj, MIDC Industrial Vs. Navi Mumbai Area, Aurangabad - 431136 Maharashtra (PAN: AAECS8719B) (Appellant) (Respondent) Present for: assessee : Shri Nikhil Tiwa…

ACIT, Cir 8(2)(1), Mumbai vs. Western India Garments Pvt. Ltd., Mumbai

In the result, appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Smt. Beena Pillai & Shri Girish Agrawalassessment Year: 2014-15 Pico Capital Private Limited Deputy Commissioner Of (Successor In Interest Of M/S Income Tax-8(3)(2), Western India Garments Private Mumbai Limited ) 22(1) Bombay Cotton Miis Vs. Compound, Dattaram Lad Path Kalachowky, Mumbai - 400033 (Pan: Aaacw2493G) (Appellant) (Respondent) Assessment Year: 2014-15 Deputy Commissioner Of Income Western India Garments Tax - 8(2)(1), Private Limited Mumbai 22(1) Bombay Cotton Miis Compound, Vs. Dattaram Lad Path Kalachowky, Mumbai - 400033 (Pan: Aaacw2493G) (Appellant) (Respondent) Present For: Assessee : Shri Dharan Gandhi, Advocate Revenue : Shri Arun Kanti Datta, Cit Dr Date Of Hearing : 03.07.2025 Date Of Pronouncement : 22.09.2025 O R D E R Pico Capital Pvt Ltd. & Western India Garments Pvt Ltd. Ay 2014-15 Per Girish Agrawal: These Two Appeals Filed By Assessee & Revenue Are Against The Order Of Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Vide Order No. Itba/Nfac/S/250/2023-24/1056675304(1), Dated 29.09.2023 Passed Against The Assessment Order By Dcit, Circle - 8(3)(2), Mumbai, U/S. 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The “Act”), Dated 13.12.2016 For Assessment Year 2014- 15. 2. Grounds Taken By The Assessee Are Reproduced As Under: 1. The Ld. Cit(A), Nfac Has Erred In Confirming The Disallowance Of Rs. 13,52,543/- Made U/S 14A R.W.R. 8D Of The Rules Over & Above The Disallowance Of Rs. 11,02,185/- Made By The Appellant. 2. The Assessment Order U/S 143(3) Of The Act, Dated 13.12.2016 Is Bad In Law As The Same Has Been Passed In The Name Of The Non-Existent Person. 3. The Ld. Ao, Has Erred In The Levying Interest Under Section 234B Of The Act. 4. The Ld. Ao Erred In Initiating Penalty Proceedings U/S 271(1)(C) Of The Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2014-15 Pico Capital Private Limited Deputy Commissioner of (Successor In Interest Of M/S Income Tax-8(3)(2), Western India Garments Private Mumbai Limited ) 22(1) Bombay Cotton MIIS Vs. Compound, Dattaram Lad Path Kalachowky, Mumbai - 400033 (PAN: AAACW2493G) (Appellant) (Respondent) Assessment Year: 2014-15 Deputy Commissioner of Income Western India Garments Tax - 8(2)(1), Private Limited Mumbai 22(1) Bombay Cotton MIIS Compound, Vs. Dattaram Lad Path Kala…

Pico Capital Private Limited (Successor in Interest of M/S Western India Garments Private Limited ), Mumbai vs. Deputy Commissioner of Income Tax-8(3)(2), Mumbai

In the result, appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Smt. Beena Pillai & Shri Girish Agrawalassessment Year: 2014-15 Pico Capital Private Limited Deputy Commissioner Of (Successor In Interest Of M/S Income Tax-8(3)(2), Western India Garments Private Mumbai Limited ) 22(1) Bombay Cotton Miis Vs. Compound, Dattaram Lad Path Kalachowky, Mumbai - 400033 (Pan: Aaacw2493G) (Appellant) (Respondent) Assessment Year: 2014-15 Deputy Commissioner Of Income Western India Garments Tax - 8(2)(1), Private Limited Mumbai 22(1) Bombay Cotton Miis Compound, Vs. Dattaram Lad Path Kalachowky, Mumbai - 400033 (Pan: Aaacw2493G) (Appellant) (Respondent) Present For: Assessee : Shri Dharan Gandhi, Advocate Revenue : Shri Arun Kanti Datta, Cit Dr Date Of Hearing : 03.07.2025 Date Of Pronouncement : 22.09.2025 O R D E R Pico Capital Pvt Ltd. & Western India Garments Pvt Ltd. Ay 2014-15 Per Girish Agrawal: These Two Appeals Filed By Assessee & Revenue Are Against The Order Of Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Vide Order No. Itba/Nfac/S/250/2023-24/1056675304(1), Dated 29.09.2023 Passed Against The Assessment Order By Dcit, Circle - 8(3)(2), Mumbai, U/S. 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The “Act”), Dated 13.12.2016 For Assessment Year 2014- 15. 2. Grounds Taken By The Assessee Are Reproduced As Under: 1. The Ld. Cit(A), Nfac Has Erred In Confirming The Disallowance Of Rs. 13,52,543/- Made U/S 14A R.W.R. 8D Of The Rules Over & Above The Disallowance Of Rs. 11,02,185/- Made By The Appellant. 2. The Assessment Order U/S 143(3) Of The Act, Dated 13.12.2016 Is Bad In Law As The Same Has Been Passed In The Name Of The Non-Existent Person. 3. The Ld. Ao, Has Erred In The Levying Interest Under Section 234B Of The Act. 4. The Ld. Ao Erred In Initiating Penalty Proceedings U/S 271(1)(C) Of The Act.

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2014-15 Pico Capital Private Limited Deputy Commissioner of (Successor In Interest Of M/S Income Tax-8(3)(2), Western India Garments Private Mumbai Limited ) 22(1) Bombay Cotton MIIS Vs. Compound, Dattaram Lad Path Kalachowky, Mumbai - 400033 (PAN: AAACW2493G) (Appellant) (Respondent) Assessment Year: 2014-15 Deputy Commissioner of Income Western India Garments Tax - 8(2)(1), Private Limited Mumbai 22(1) Bombay Cotton MIIS Compound, Vs. Dattaram Lad Path Kala…

DCIT-3(2)(1), Mumbai vs. Maharashtra Airport Development Company Limited, Mumbai

Bench: Shri Saktijit Dey & Shri Prabhash Shankarmaharashtra Airport V/S. Assistant Commissioner Of Development Company बनाम Income Tax, Circle – 3(2)(1), Limited Room No. 608, Aayakar 8, World Trade Centre, Bhavan, Maharishi Karve Tower 1, 8Th Floor, Cuffe Road, Mumbai – 400020, Parade, Mumbai – 400005, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcm9623M Appellant/अपीलार्थी .. Respondent/प्रतिवादी Deputy Commissioner Of V/S. Maharashtra Airport Income Tax, Circle – 3(2)(1), बनाम Development Company Room No. 608, 6Th Floor, Limited, 8, World Trade Aayakar Bhavan, Maharishi Centre, Tower 1, 8Th Floor, Karve Road, Mumbai – 400 Cuffe Parade, Colaba S.O. 020, Maharashtra Mumbai–400005, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcm9623M Appellant/अपीलाथी .. Respondent/प्रतिवादी

…IN THE INCOME-TAX APPELLATE TRIBUNAL“E” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Maharashtra Airport v/s. Assistant Commissioner of Development Company बनाम Income Tax, Circle – 3(2)(1), Limited Room No. 608, Aayakar 8, World Trade Centre, Bhavan, Maharishi Karve Tower 1, 8th Floor, Cuffe Road, Mumbai – 400020, Parade, Mumbai – 400005, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AADCM9623M Appellant/अपीलार्थी .. Respondent/प्रतिवादी Deputy Commissioner of v/s. Maharashtra Airport Income Tax, Circle – 3(2)(1), बनाम Development Company Roo…