“Section 36(1)(m)”

DCIT-2(3)(1), MUMBAI vs. INDUSIND BANK LTD., MUMBAI

{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL\n“I” BENCH, MUMBAI\nBEFORE MS PADMAVATHY S, AM & SHRI RAJ KUMAR

INDUSIND BANK LTD,MUMBAI vs. THE DCIT-2(3)(1), MUMBAI

In the result, the Income Tax Appeal is\ndismissed

{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL\n“I” BENCH, MUMBAI\n\nBEFORE MS PADMAVATHY S, AM & SHRI RAJ

AGRAWAL DISTILLERIES PVT LTD,INDORE vs. COMMISSIONER OF INCOME TAX (APPEALS), DELHI

learned AO/DRP\nhas erred in disallowing interest expenses of Rs 26,45,28,627 on capital work-in-\nprogress under section 36(1)(m) of the Act.\n3.2. Without prejudice to Ground 3.1 above, on the facts and circumstances of the\ncase and in law the learned AO/DRP has erred

VODAFONE DIGILINK LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee Ground Nos 9 & 10 is allowed

Bench: Shri Anikesh Banerjeeand\Nshri Prabhash Shankar\Nita No.1169/Mum/2014\N(Assessment Year: 2009-10)\Nm/S Vodafone Digilink Vs Deputy Commissioner Of Income\Nlimited,\Ntax, Cir.17(1), New Delhi\Nc-48, Okhla Industrial Area,\Nphase-Ii, New Delhi-110 020\Npan: Aaaca3202D\Nappellant\Nrespondent\Nassessee By\N:\Nshri Percy J. Pardiwalla/Wshri\Nketan Ved\Nrespondent By\N:\Nms. Vatsala Jha (Pcit)\Ndate Of Hearing\N:\N23/12/2024\Ndate Of Pronouncement\N:\N12/02/2025\Norder\Nper Anikesh Banerjee:\Ninstant Appeal Of The Assessee Was Filed Against The Order Of The Learned\Ndispute Resolution Panel-Ii, New Delhi-02 [For Brevity, ‘Ld.Drp') Passed Under\Nsection 144C(5) Of The Income-Tax Act, 1961 (For Brevity, ‘The Act'),\Ndated21/11/2013 For A.Y. 2009-10. The Impugned Order Was Emanated From The\Ndraft Assessment Order U/S 144C(1) R.W.S.143(3) Of The Actdated 28/03/2013 Of\Nthe Ld.Dcit, Circle-17(1), New Delhi (For Brevity The Ld. Ao).\N2\Nita No.1169/Mum/2014\Nvodafone Digilink Limited\N2. The Assessee Has Raised The Following Grounds Of Appeal: -\N“The Appellant Respectfully Submits That:\Non The Facts & Circumstances Of The Case & In Law, The Learned Dispute\Nresolution Panel -11. New Delhi (Drp\") Has Erred In Passing The Order Under\Nsection 144C(5) Of The Income Tax Act, 1961 (Act\"), Partly Confirming The\Nadjustments Proposed By The Deputy Commissioner Of Income Tax, Circle 17(1)\Nnew Delhi ("Ao') In The Draft Assessment Order & The Learned Ao Has\Naccordingly Erred In Passing The Assessment Order Under Section 143(3) Read With\Nsection 144C Of The Act.\Neach Of The Ground Is Referred To Separately, Which May Kindly Be Considered\Nindependent Of Each Other.\N1. On Amortization Of Revenue Based License Fee U/S 35Abb Of The Act\N1.

learned AO/DRP\nhas erred in disallowing interest expenses of Rs 26,45,28,627 on capital work-in-\nprogress under section 36(1)(m) of the Act.\n32. Without prejudice to Ground 3.1 above, on the facts and circumstances of the\ncase and in law the learned AO/DRP has erred

NAYARA ENERGY LIMITED (ON BEHALF OF MERGED ENTITY VADINAR OIL TERMINAL LIMITED) ,MUMBAI vs. ASSTT. COMMISSIONER OF INCOME -TAX CENTRAL CIRCLE 2(1), MUMBAI

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

Bench: Shri Pramod Kumar, Vp & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.777/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2016-17) Nayara Energy Ltd (On Acit, Central Circle-2(1) बिधम/ Behalf Of Merged Entity Room No. 804, Pratishtha Vs. Vadinar Oil Terminal Ltd) Bhavan, Old Cgo 5Th Floor, Jet Airways Annexe, M. K. Road, Godrej Bkc, G- Block, Plot Mumbai-400020. C-68, Bkc, Bandra (E), Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabcv2626D (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Nitesh Joshi Revenue By: Dr. Mahesh Akhade (Dr) सुनवाई की तारीख / Date Of Hearing: 25/08/2022 घोषणा की तारीख /Date Of Pronouncement: 10/10/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-48, Mumbai Dated 24.02.2022 For Assessment Year 2016-17. 2. The Grounds Of Appeal Preferred By Assessee Are As Under: - “Disallowance Of Interest Under Section 36(1) (Iii) Of The Income-Tax Act The Act - Rs.149.80 Crores 1. The Learned Assessing Officer (Ao) & Learned Cit(A) Erred In Disallowing Interest Of Rs.149.80 Crores Pertaining To Loans Of Rs.1253.53 Crores Granted To Related Parties Contending Them To Be Interest Free Without Appreciating The Fact, That Out Of The Total Amount, Only Security Deposits Of Rs.96.53 Crores Are Interest Free Refundable

that the Tribunal was not justified in holding that the interest on loans borrowed for advancing to its subsidiary company was allowable under section 36(1)(m) of the Income-tax Act, 1961. The plain language of section 36(4) (iii) of the Income-tax Act, 1961, militates against

ACIT-2(3)(2), MUMBAI vs. M/S ICICI BANK LTD., MUMBAI

In the result, the appeal of the assessee is allowed while for the appeal of the revenue stand dismissed

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopalicici Bank Limited Vs. The Acit, Circle 2(3)(2) Icici Bank Towers Aayakar Bhavan, 5Th Bandra Kurla Complex Floor, Room No. 552/556 Bandra (East) Mumbai – 400 020 Mumbai – 400 051 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaaci1195H Appellant .. Respondent The Acit, Circle 2(3)(2) Vs. Icici Bank Limited Aayakar Bhavan, 5Th Icici Bank Towers Floor, Room No. 552 Bandra Kurla Complex Mumbai – 400 020 Bandra (East) Mumbai – 400 051 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaaci1195H Respondent .. Appellant

ITA Nos. 3215 & 3864/Mum/2019 1 ICICI Bank Ltd. Vs. The ACIT-2(3)(2) IN THE INCOME TAX APPELLATE TRIBUNAL

ICICI BANK LIMITED ,MUMBAI vs. THE ASST. CIT CIRCLE 2(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed while for the appeal of the revenue stand dismissed

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopalicici Bank Limited Vs. The Acit, Circle 2(3)(2) Icici Bank Towers Aayakar Bhavan, 5Th Bandra Kurla Complex Floor, Room No. 552/556 Bandra (East) Mumbai – 400 020 Mumbai – 400 051 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaaci1195H Appellant .. Respondent The Acit, Circle 2(3)(2) Vs. Icici Bank Limited Aayakar Bhavan, 5Th Icici Bank Towers Floor, Room No. 552 Bandra Kurla Complex Mumbai – 400 020 Bandra (East) Mumbai – 400 051 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaaci1195H Respondent .. Appellant

ITA Nos. 3215 & 3864/Mum/2019 1 ICICI Bank Ltd. Vs. The ACIT-2(3)(2) IN THE INCOME TAX APPELLATE TRIBUNAL