Punj Sons P. Ltd. v. DCIT

M/S. Bajaj Auto Ltd., Mumbai vs. Addl. CIT. RG. - 3(1), Mumbai

…/Mum/05) (c) ITAT-AY 2000-01 (ITA No. 3055/Mum/05) (d) ITAT-AY 1998-99 (ITA No. 9564/Mum/2004) (e) ITAT-AY 1997-98 (ITA No. 5030/Mum/2001) (f) ITAT-AY 1996-97 (ITA No. 1781/Mum/2000) (g) ITAT AY 1995-96 (ITA No. 3493/Mum/1999) (h) Punj Sons (P) Ltd. vs. DCIT (74 TTJ 596) (Del) The Id. D.R supported the order of the lower authorities. 24. Heard both the sides and perused the material on record. We have perused the decision of the ITAT vide ITA No. 4236/Mum/2005. The relevant extract of the decision is reproduced as under: “52. With regard to Ground No. 4 which is in respect of disallowance of wealth- tax payment,…

Bajaj Holdngs & Investment Ltd ( Erstwhile Bajaj Auto Ltd), Mumbai vs. Addl CIT RG 3(1), Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

…Mum/05) (c) ITAT-AY 2000-01 (ITA No. 3055/Mum/05) (d) ITAT-AY 1998-99 (ITA No. 9564/Mum/2004) (e) ITAT-AY 1997-98 (ITA No. 5030/Mum/2001) (f) ITAT-AY 1996-97 (ITA No. 1781/Mum/ 2000) (g) ITAT AY 1995-96 (ITA No. 3493/Mum/1999) (h) Punj Sons (P) Ltd. vs. DCIT (74 TTJ 596) (Del) The ld. D.R supported the order of the lower authorities. 24. Heard both the sides and perused the material on record. We have perused the decision of the ITAT vide ITA No. 4236/Mum/2005. The relevant extract of the decision is reproduced as under: “52. With regard to Ground No. 4 which is in respect of disallowance of wealth- tax payment…

Addl CIT RG 3(1), Mumbai vs. Bajaj Auto Ltd, Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

…Mum/05) (c) ITAT-AY 2000-01 (ITA No. 3055/Mum/05) (d) ITAT-AY 1998-99 (ITA No. 9564/Mum/2004) (e) ITAT-AY 1997-98 (ITA No. 5030/Mum/2001) (f) ITAT-AY 1996-97 (ITA No. 1781/Mum/ 2000) (g) ITAT AY 1995-96 (ITA No. 3493/Mum/1999) (h) Punj Sons (P) Ltd. vs. DCIT (74 TTJ 596) (Del) The ld. D.R supported the order of the lower authorities. 24. Heard both the sides and perused the material on record. We have perused the decision of the ITAT vide ITA No. 4236/Mum/2005. The relevant extract of the decision is reproduced as under: “52. With regard to Ground No. 4 which is in respect of disallowance of wealth- tax payment…

DCIT RG. - 3(1), Mumbai vs. M/S. Bajaj Auto Ltd., Mumbai

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Bajaj Auto Limited V. Dcit – Range – 3(1) Bajaj Bhavan, 226-Nariman Point 6Th Floor, Aayakar Bhavan Mumbai – 400021 M.K. Road, Mumbai - 400020 Pan : Aaacb3370K (Appellant) (Respondent) Dcit – Range – 3(1) V. M/S. Bajaj Auto Limited Room No. 623, 6Th Floor Bajaj Bhavan, 226-Nariman Point Mumbai – 400021 Aayakar Bhavan M.K. Road, Mumbai - 400020 Pan : Aaacb3370K (Appellant) (Respondent) Assessee Represented By : Ms. Vasanti Patel& Shri Kirit Kamdar Department Represented By : Shri Ankush Kapoor

…um/1999 dated 20.01.2021 held as under: - “69. Considered the rival submission and material placed on record. We notice from the records that the identical issues have already been decided by ITAT Delhi Bench in the case of Punj Sons (P) Ltd. vrs. DCIT (2002) 74 TTJ 596) (Del) on merits. For the sake of clarity, relevant portion of the said decision is reproduced below:- 7. We have considered the rival submissions and the materials on the file. We are of the view that the issue in the present case is covered by the Supreme Court decision in the case of AAC Ltd (supra). Section 40(a)(iia) prohibits deduction of "a…

M/S. Bajaj Auto Ltd., Mumbai vs. DCIT RG. - 3(1), Mumbai

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Bajaj Auto Limited V. Dcit – Range – 3(1) Bajaj Bhavan, 226-Nariman Point 6Th Floor, Aayakar Bhavan Mumbai – 400021 M.K. Road, Mumbai - 400020 Pan : Aaacb3370K (Appellant) (Respondent) Dcit – Range – 3(1) V. M/S. Bajaj Auto Limited Room No. 623, 6Th Floor Bajaj Bhavan, 226-Nariman Point Mumbai – 400021 Aayakar Bhavan M.K. Road, Mumbai - 400020 Pan : Aaacb3370K (Appellant) (Respondent) Assessee Represented By : Ms. Vasanti Patel& Shri Kirit Kamdar Department Represented By : Shri Ankush Kapoor

…um/1999 dated 20.01.2021 held as under: - “69. Considered the rival submission and material placed on record. We notice from the records that the identical issues have already been decided by ITAT Delhi Bench in the case of Punj Sons (P) Ltd. vrs. DCIT (2002) 74 TTJ 596) (Del) on merits. For the sake of clarity, relevant portion of the said decision is reproduced below:- 7. We have considered the rival submissions and the materials on the file. We are of the view that the issue in the present case is covered by the Supreme Court decision in the case of AAC Ltd (supra). Section 40(a)(iia) prohibits deduction of "a…

The Dy CIT RG 3(1), Mumbai vs. M/S. Bajaj International P. Ltd, Mumbai

In the result, the appeals filed by the assessee and revenue are partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “F” Bench, Mumbai. Before Shri B.R. Baskaran (AM) & Shri Rahul Chaudhary (JM) I.T.A. No. 8952/Mum/2004 (A.Y. 1998-99) Vs. M/s. Bajaj Holdings & Investment DCIT, Range 3(1) Room No. 623 Ltd. 6th Floor (formerly known as Bajaj Auto Aayakar Bhavan Limited), Bajaj Finserv Corporate M.K. Road Office, Off. Pune-Ahmednagar Mumbai-400 020. Highway, Vimannagar, Pune-411 014. (Appellant) (Respondent) I.T.A. No. 9564/Mum/2004 (A.Y. 1998-99) Vs. DCIT, Range 3(1) M/s. Bajaj Holdings & Investment Ltd. Room No. 623 (formerly known as Bajaj Auto 6th Floor Limited), Bajaj Finserv Co…

ACIT (Ltu-1), Mumbai vs. Bajaj Holdings & Investment Ltd, Mumbai

In the result, cross objection filed by the assessee is partly allowed

Bench: Shri Kuldip Singh, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bleacit (Ltu-1) V. Bajaj Holdings Investment Ltd 29Th, Floor, Centre-1 226, Bajaj Bhavan, 2Nd Floor World Trade Centre Jamnalal Bajaj Marg, Nariman Point Mumbai- 400021 Cuffe Parade, Mumbai- 400075 Pan: Aaacb3370K (Appellant) (Respondent) C.O.No. 96/Mum/2002 [Arising Out Of Ita No.5030/Mum/2001 (A.Y: 1997-98)] Bhajaj Auto Limited V. Acit (Ltu-1) Bhajaj Bhavan 29Th, Floor, Centre-1 Nariman Point World Trade Centre Mumbai - 400020 Cuffe Parade, Mumbai- 400075 Pan: Aaacb3370K (Appellant) (Respondent) Assessee Represented By : Shri Percy Pardiwala& Ms. Vasanti Patel Department Represented By : Shri Rahul Kumar & Shri Vranda U Matkarri

…ival submission and material placed on record. We notice from the records that the identical issues have already been decided by ITAT Delhi Bench in the case of Punj Sons Page No.| 32 C.O.No. 96/MUM/2002 Bajaj Holdings Investment Ltd (P) Ltd. vrs. DCIT (2002) 74 TTJ 596) (Del) on merits. For the sake of clarity, relevant portion of the said decision is reproduced below:- 7. We have considered the rival submissions and the materials on the file. We are of the view that the issue in the present case is covered by the Supreme Court decision in the case of AAC Ltd (supra). Section 40(a)(iia) prohibits deduction of "a…