COFFEEDAY GLOBAL LTD. vs. ADDITIONAL COMMISSIONER OF INCOME TAX

In the result, the orders dated 21

Bench: ALOK ARADHE,ASHOK S.KINAGI

54,153/- by reducing the interest rate to 8.5% as against 12% as held by the Assessing Officer. (iii) the disallowance of interest on borrowed capital allegedly utilized for capital work-in-progress was upheld but the quantum of disallowance was reduced from Rs.7,97,79,326/- to Rs.5,05,06,362/- by reducing the interest rate from

PR. COMMISSIONER OF INCOME TAX vs. M/S AMALGAMATED BEAN COFFEE TRADING CO LTD

In the result, the orders dated 21

Bench: ALOK ARADHE,ASHOK S.KINAGI

54,153/- by reducing the interest rate to 8.5% as against 12% as held by the Assessing Officer. (iii) the disallowance of interest on borrowed capital allegedly utilized for capital work-in-progress was upheld but the quantum of disallowance was reduced from Rs.7,97,79,326/- to Rs.5,05,06,362/- by reducing the interest rate from

COFFEEDAY GLOBAL LTD. vs. ADDITIONAL COMMISSIONER OF INCOME TAX

In the result, the orders dated 21

Bench: ALOK ARADHE,ASHOK S.KINAGI

54,153/- by reducing the interest rate to 8.5% as against 12% as held by the Assessing Officer. (iii) the disallowance of interest on borrowed capital allegedly utilized for capital work-in-progress was upheld but the quantum of disallowance was reduced from Rs.7,97,79,326/- to Rs.5,05,06,362/- by reducing the interest rate from

THE COMMISSIONER OF INCOME-TAX vs. TEXAS INSTRUMENTS INDIA PVT LTD

The appeals are dismissed

Bench: SATISH CHANDRA SHARMA,SURAJ GOVINDARAJ

disallowed the claim, on an appeal filed by the Assessee, the Commissioner, Income-tax (Appeals) CIT(A) accepted the Assessee’s I.T.A. NO.141 OF 2020 c/w I.T.A. NO.151 OF 2020 48 contention and held that the Assessee’s employee would come within the purview of Section 2(s) of the ID Act. This aspect was not challenged by the Revenue

ZAMEER MIRJA vs. THE JOINT COMMISSIONER OF INCOME TAX

Bench: B.MANOHAR,K.SREEDHAR RAO

Section 54 and the exemption granted towards Rs.20,00,000/- was disallowed. CIT appeals confirmed the order of the Assessing

THE COMMISSIONER OF INCOME-TAX, vs. M/S CORPORATION BANK

In the result, the third substantial question of law is also answered

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

54,08,250/- was declared. The revised return was processed under Section 143(1) of the Act o 15.06.2012 and a refund of 4 Rs.133,39,33,970/- was granted. Subsequently, the assessee filed a second revised return on 11.01.2013 in which income of Rs.1367,59,11,162/- was admitted. The Assessing Officer vide order dated 19.02.2013 made an addition

THE PR. COMMISSIONER OF INCOME TAX, CIT (A) vs. M/S. MANIPAL HEALTH SYSTEMS PVT. LTD.,

Appeal is dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

disallowances of Rs. 66,54,726/- under Section 40A(2) of the Income Tax, Act 19614 for the service charges

THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

Bench: K.SOMASHEKAR,UMESH M ADIGA

Disallowance of 53 Expenses under Explanation to section 37 (1), which was deleted by the tribunal in that year. Regarding the third issue i.e. Addition made on account of sale of Land, he submitted that in Para 21 of that tribunal order, the tribunal held that gross amount of sale proceeds cannot be taxed and the matter was restored back

THE PR COMMISSIONER OF vs. M/S MAHAVEER CALYX

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

disallowance under Section 14A towards any interest expenditure can be made. Similar view was taken in CIT VS. HDFC BANK LTD., 366 ITR 505 (Bom). The aforesaid decisions were followed by a bench of this court in 'PRINCIPAL COMMISSINOER OF INCOME TAX AND ANOTHER VS. GOLDMEN SACHS SERVICES P. LTD.', 409 ITR 268 (KARN). In the light of the aforesaid

THE COMMISSIONER OF INCOME TAX vs. M/S QUEST GLOBAL ENGINEERING SERVICES PVT. LTD.,

In the result, we don to find any

Bench: ALOK ARADHE,R. NATARAJ

Section 143(1) of the Act and was subsequently taken up for scrutiny. The Assessing Officer by an order dated 22.2.2013, inter alia, made the addition on account of disallowance of provision of loss of derivative contracts to the extent of Rs.16,35,54

THE PR. COMMISSIONER OF INCOME TAX vs. MRS. VANAJA MATTHEN

The appeal is dismissed

Bench: This Court, Questioning The Order Dated 25.01.2017 In

disallowed deduction under Section 54F of the Income-Tax Act, 1961 (‘the Act’ for short) on the ground that the assessee purchased the property vide sale deeds dated 10.09.2008 and 20.11.2008, however, the construction of the flats have not been completed when the purchase was made under the said sale deeds. Further, it observed that the construction was completed

THE COMMISIONER OF INCOME-TAX vs. M/S IBC KNOWLEDGE PARK PVT LTD

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

disallowed as it was not meant for management of construction, but on other expenses, such as advertisement, sales promotion etc. Therefore, the income had to be assessed under the head income from other sources. The Tribunal held that the income had to be assessed as business income and the assessee could not have received a sum of Rs.78.25 lakh without

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

disallowed as it was not meant for management of construction, but on other expenses, such as advertisement, sales promotion etc. Therefore, the income had to be assessed under the head income from other sources. The Tribunal held that the income had to be assessed as business income and the assessee could not have received a sum of Rs.78.25 lakh without

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

disallowed as it was not meant for management of construction, but on other expenses, such as advertisement, sales promotion etc. Therefore, the income had to be assessed under the head income from other sources. The Tribunal held that the income had to be assessed as business income and the assessee could not have received a sum of Rs.78.25 lakh without

THE PR COMMISSIONER OF vs. M/S MAJESTIC DEVELOPERS

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

disallowance under Section 14A towards any interest expenditure can be made. Similar view was taken in CIT VS. HDFC BANK LTD., 366 ITR 9 505 (Bom). The aforesaid decisions were followed by a bench of this court in 'PRINCIPAL COMMISSINOER OF INCOME TAX AND ANOTHER VS. GOLDMEN SACHS SERVICES P. LTD.', 409 ITR 268 (KARN). In the light

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

disallowance made under Section 40[a][ia] for non deduction of TDS on payments made to Director’s towards sitting fees by holding that - 16 - the amendment will apply for A.Y.2014-15 onwards?” In ITA No.381/2018: “1. Whether on the facts and in the circumstances of the case and in law the Tribunal was correct in law in holding that incriminating

THE PR. COMMISIONER INCOME TAX vs. M/S. GMR INFRASTRUCTURE LTD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

disallowance made under Section 40[a][ia] for non deduction of TDS on payments made to Director’s towards sitting fees by holding that - 16 - the amendment will apply for A.Y.2014-15 onwards?” In ITA No.381/2018: “1. Whether on the facts and in the circumstances of the case and in law the Tribunal was correct in law in holding that incriminating

PR. COMMISSIONER OF INCOME TAX (CENTRAL) vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD.,

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

disallowance made under Section 40[a][ia] for non deduction of TDS on payments made to Director’s towards sitting fees by holding that - 16 - the amendment will apply for A.Y.2014-15 onwards?” In ITA No.381/2018: “1. Whether on the facts and in the circumstances of the case and in law the Tribunal was correct in law in holding that incriminating