DCIT, GULBARGA vs. M/S JUPITER BIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

68,0571-. These expenses are claimed for the entire year for goods purchased including supply of materials for production of drugs. As seen from the ledger extract of the inward expenses, it is seen that transport expenses for purchase of P&M and raw materials are not reflected in the books of accounts separately. Neither the goads are purchased

ACIT, GULBARGA vs. M/S. JUPITER BIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

68,0571-. These expenses are claimed for the entire year for goods purchased including supply of materials for production of drugs. As seen from the ledger extract of the inward expenses, it is seen that transport expenses for purchase of P&M and raw materials are not reflected in the books of accounts separately. Neither the goads are purchased

DCIT, GULBARGA vs. M/S JUPITER BIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

68,0571-. These expenses are claimed for the entire year for goods purchased including supply of materials for production of drugs. As seen from the ledger extract of the inward expenses, it is seen that transport expenses for purchase of P&M and raw materials are not reflected in the books of accounts separately. Neither the goads are purchased

DCIT, GULBARGA vs. M/S JUPITERBIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

68,0571-. These expenses are claimed for the entire year for goods purchased including supply of materials for production of drugs. As seen from the ledger extract of the inward expenses, it is seen that transport expenses for purchase of P&M and raw materials are not reflected in the books of accounts separately. Neither the goads are purchased

VAISHNAVI INFRASTRUCTURE PRIVATE LIMITED,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, all the three appeals filed by the assessee stands allowed for statistical purposes

Bench: Smt. Beena Pillai & Ms. Padmavathy S

68,522/- + Rs.4,98,346/-) - Rs. 34,66,868/- Total Rs. 38,22,755/- 2.6 In the course of assessment proceedings u/s 143(3) r.w.s 153A of the Act, the assessee had submitted that its own capital and reserves were more than investments in firms and mutual funds and that the assessee had not incurred any expenditure in Page

VAISHNAVI INFRASTRUCTURE PRIVATE LIMITED,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, all the three appeals filed by the assessee stands allowed for statistical purposes

Bench: Smt. Beena Pillai & Ms. Padmavathy S

68,522/- + Rs.4,98,346/-) - Rs. 34,66,868/- Total Rs. 38,22,755/- 2.6 In the course of assessment proceedings u/s 143(3) r.w.s 153A of the Act, the assessee had submitted that its own capital and reserves were more than investments in firms and mutual funds and that the assessee had not incurred any expenditure in Page

VAISHNAVI INFRASTRUCTURE PRIVATE LIMITED,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, all the three appeals filed by the assessee stands allowed for statistical purposes

Bench: Smt. Beena Pillai & Ms. Padmavathy S

68,522/- + Rs.4,98,346/-) - Rs. 34,66,868/- Total Rs. 38,22,755/- 2.6 In the course of assessment proceedings u/s 143(3) r.w.s 153A of the Act, the assessee had submitted that its own capital and reserves were more than investments in firms and mutual funds and that the assessee had not incurred any expenditure in Page

DCIT, BANGALORE vs. M/S WIPRO LTD.,, BANGALORE

Bench: Shri B.R. Baskaran, Accountantmember & Shri Pavan Kumar Gadaleit(Tp)A No.99/Bang/2014 Assessmentyear:2009-10

Section 14A disallowance and interest on ECB loan from out of the total corporate expenses of Rs.157.15 crores and accordingly arrived at the figure of Rs.83.62 crores (referred above). The A.O. proposed to allocate the above said expenditure in the ratio of turnover of various divisions and units. 11.3 The assessee objected to the proposal put forth

ASST.C.I.T., BANGALORE vs. M/S WIPRO LTD.,, BANGALORE

Bench: Shri B.R. Baskaran, Accountantmember & Shri Pavan Kumar Gadaleit(Tp)A No.99/Bang/2014 Assessmentyear:2009-10

Section 14A disallowance and interest on ECB loan from out of the total corporate expenses of Rs.157.15 crores and accordingly arrived at the figure of Rs.83.62 crores (referred above). The A.O. proposed to allocate the above said expenditure in the ratio of turnover of various divisions and units. 11.3 The assessee objected to the proposal put forth

WIPRO LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

section 14A as computed under Rule 8D(2)(iii) cannot be more than the actual expenditure which can be relatable for earning the exempt income and debited to the Profit and Loss account. In the case on hand the disallowance made by the assessee on its own is not the total expenditure debited to the profit and loss account

M/S. WIPRO LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(2), BANGALORE

In the result, the appeal filed by the assessee is treated as partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranit(Tp)A No.2556/Bang/2019 Assessment Year : 2015-16

section 10A." Thus it is clear that the Tribunal has followed the earlier order for the Assessment Year 2004-05 which has been upheld by the Hon'ble jurisdictional High Court. Following the earlier order of this Tribunal as well as Hon'ble jurisdictional High Court, we decide this issue in favour of the assessee and against the revenue