DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

3) read with section 92CA (4) making the following disallowances / additions. Disallowance of interest expense under section 14A at INR 9,34,74,475 Disallowance of consulting fee paid to bank under section 37at INR 13,70,90,436 Disallowance of escrow fee paid to bank under section 37 at INR 201,663 Transfer Pricing adjustment

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

3) read with section 92CA (4) making the following disallowances / additions. Disallowance of interest expense under section 14A at INR 9,34,74,475 Disallowance of consulting fee paid to bank under section 37at INR 13,70,90,436 Disallowance of escrow fee paid to bank under section 37 at INR 201,663 Transfer Pricing adjustment

PRATHYUSHA EDUCATIONAL TRUST,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri George Mathan & Shri Inturi Rama Rao

disallowance u/s.40(a)(ia) prior period expense, deposit refund, salary paid to Managing Trustee were made contrary to the facts of the case and against the principles of law.” 4. Consequent to the Miscellaneous Petition order, the appeals came to be heard on 15th May, 2019. For the purpose of filing detailed submission and to specifically point out the issues

PRATHYUSHA EDUCATIONAL TRUST,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri George Mathan & Shri Inturi Rama Rao

disallowance u/s.40(a)(ia) prior period expense, deposit refund, salary paid to Managing Trustee were made contrary to the facts of the case and against the principles of law.” 4. Consequent to the Miscellaneous Petition order, the appeals came to be heard on 15th May, 2019. For the purpose of filing detailed submission and to specifically point out the issues

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. R. Raghunatha, Hon'Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Cognizant Technology Solutions Vs The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai - 600 096. (प्रत्यर्थी/Respondent) Pan: Aaacd 3312M (अपीलार्थी/Appellant) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) The Asst. Commissioner Of Vs Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai - 600 096. Pan: Aaacd 3312M (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) निधारिती की ओर से/Assessee By राजस्व की ओर से /Revenue By : Shri N.V. Balaji, Advocate : Shri R. Clement Ramesh Kumar, Cit & Ms. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 11.03.2025 घोषणा की तारीख/Date Of Pronouncement : 16.05.2025 - 2 -

3) to section 14A of the Act, the AO does not have power to compute disallowance under section 14A as per provisions of Rule 8D, even for A.Ys.2008-09 and onwards, if the AO does not express dissatisfaction. - For the purpose of computation of disallowance u/s.14A of the Act read with rule 8D, the investments which have not yielded

ACIT, MADURAI vs. J.K.FENNER (INDIA) LIMITED, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

J.K.FENNER (INDIA) LIMITED,MADURAI vs. ACIT CORPORATE CIRCLE 1, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

ACIT CORPORATE CIRCLE 1, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. ACIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

144 ITD 141 (kol.). 3. The Commissioner of Income Tax (Appeals) erred in directing the assessing officer to restrict the addition to Rs.2,57,99,631/- u/s 14A while determining the Book Profits u/s 115JB. The grounds raised by the revenue read as under 2.1 The CIT(A) ought to have seen that as per Board’s Circular No.5/2014