ACIT - 14(2) (2), MUMBAI vs. PFIZER LTD, MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

32 (1) of The Income Tax Act. The AO further submitted that the decision of the coordinate bench in ITA number 722/BANG/2014 [ United Breweries Limited] for assessment year 2007 – 08 held that an amalgamated company cannot claim depreciation on the assets acquired in the scheme of amalgamation including goodwill, more than that which is permitted to the amalgamating company. With

PFIZER LTD,MUMBAI vs. DCIT - 14(2) (2), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

32 (1) of The Income Tax Act. The AO further submitted that the decision of the coordinate bench in ITA number 722/BANG/2014 [ United Breweries Limited] for assessment year 2007 – 08 held that an amalgamated company cannot claim depreciation on the assets acquired in the scheme of amalgamation including goodwill, more than that which is permitted to the amalgamating company. With

DCIT CEN CIR 8(4), MUMBAI vs. SAVITA OIL TECHNOLOGIES LTD, MUMBAI

Appeal is allowed

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.7620/Mum/2016 (नििाारण वर्ा / Assessment Year : 2010-11)

ii) interest on Rs, 1,70,84,640 for the period from date of payment of Self Assessment Tax to 29.06.2015.” Thus, the Ld. CIT(A) held that clause (b) to sub-section 1 to Section 244A of the 1961 Act is applicable in the instant case and hence the assessee is entitled for interest on the refund

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

32(1) r.w.s. 2(11) of the IT Act.\n2.5 Without prejudice to para 2.2 and 2.3 above, the learned DCIT and Hon'ble\nDRP erred in not considering the value of supply contracts as Goodwill acquired\nfrom GSK, which is an intangible asset eligible for depreciation under section\n32(1) r.w.s. 2(11) of the IT Act.\n3. Ground

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX- CIRCLE 6(1)(1), MAHARASHTRA

Bench: Shri Amit Shukla & Shri Makarand Vasant Mahadeokar1. Ita No. 6663/Mum/2025 (Assessment Year: 2017-18) 2. Ita No. 6701/Mum/2025 (Assessment Year: 2018-19) 3. Ita No. 6702/Mum/2025 (Assessment Year: 2022-23) & 4. Ita No. 6703/Mum/2025 (Assessment Year: 2023-24) Aditya Birla Sun Life Dcitcircle-6(1)(1), Amc Limited, Room No. 502, 5Th 17Th Floor, One World Vs. Floor, Aayakar Centre Tower-1, Jupiter Bhavan, M. K. Mill Compount, 841, Road, Churchgate, Senapati Bapat Marg, Mumbai-400 020 Delisle Road, S.O. Mumbai-400 013 Pan/Gir No. Aaacb6134D (Applicant) (Respondent) Assessee By Shri Ronak Doshi, Shri Shrey Agrawal & Shri Aadish Jain, Ld. Ars Revenue By Shri Surendra Mohan, Ld. Dr Date Of Hearing 27.01.2026 Date Of Pronouncement 06.02.2026

32) ITA No. 6663, 6701, 6702 & 6703 /Mum/2025 Aditya Birla Sun Life AMC Limited issue; instead, the income as determined under section 143(1) was adopted, and the adjustment relating to employees’ contribution to Provident Fund as made in the intimation under section 143(1) continued to form part of the assessed income. 65. Before

BANK OF INDIA,MUMBAI vs. ACIT-2(1)(2), MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

section 143(3) of the Act, disagreed with the submissions of the assessee and held that perpetual bonds are in the nature of debt instruments with no maturity date. Only the issuing company can buy back the bonds from the investors. Therefore, it was held these bonds are perpetual in nature. Since in the case of perpetual bonds, the investor

ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

section 143(3) of the Act, disagreed with the submissions of the assessee and held that perpetual bonds are in the nature of debt instruments with no maturity date. Only the issuing company can buy back the bonds from the investors. Therefore, it was held these bonds are perpetual in nature. Since in the case of perpetual bonds, the investor

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

ii) VipMed and Fulfilment Services Inc; and (iii) Cincinnati Sub-Zero\nProducts, Inc. and Dimension Distributing Inc. from the economic analysis,\nwhich are comparable to the Appellant's indenting activity in terms of\nfunctions, asset base and risk profile.\nThe Appellant therefore prays that the addition made by the learned DCIT of\nRs.4,41,90,721 under Section

DY. COMMISSIONER OF INCOME TAX-5(2)(1), MUMBAI, MUMBAI vs. ADITYA BIRLA HOUSING FINANCE LIMITED, MUMBAI

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

ii) in respect of which, information required to be furnished to substantiate such entry, has not been furnished under this Act; and (iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction. Thus, the scope of newly substituted Section 143(1) was limited

DY. COMMISSIONER OF INCOME TAX-5(2)(1), MUMBAI, MUMBAI vs. ADITYA BIRLA HOUSING FINANCE LIMITED, MUMBAI

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

ii) in respect of which, information required to be furnished to substantiate such entry, has not been furnished under this Act; and (iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction. Thus, the scope of newly substituted Section 143(1) was limited

DY. COMMISSIONER OF INCOME TAX-5(2)(1), MUMBAI, MUMBAI vs. ADITYA BIRLA HOUSING FINANCE LIMITED, MUMBAI

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

ii) in respect of which, information required to be furnished to substantiate such entry, has not been furnished under this Act; and (iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction. Thus, the scope of newly substituted Section 143(1) was limited

GRASIM INDUSTRIES LTD ( CORPORATE FINANCE DIVISION),MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

Bench: the CIT(A). The CIT(A) partly allowed the appeal preferred by the Assessee vide order, dated 18/05/2009. 4. Not being satisfied with the relief granted by the Id. CIT(A), the Assessee has preferred appeal before this Tribunal. The Revenue has also filed cross-appeal challenging the relief granted by the Id. CIT(A).

32(1)(iii).This amendment also strengthen the claim that now only detail for "block of assets" has to be maintained and not separately for each asset “ 33. Having regard to this legislative intent contained in the aforesaid amendment, it is difficult to accept the submission of the learned counsel for the Revenue that Assessment Years: 2006-2007 for allowing

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

In the result, the appeal of the Revenue Ground-3 is dismissed

Bench: Shri Narendra Kumar Billaiya, Account Member & Shri Anikesh Banerjeestate Bank Of India Vs Joint Commissioner Of Income-Tax, (Erstwhile State Bank Of Large Tax Payers Unit, Bangalore Mysore Prior To Merger) Local Head Office Compliance Department, 4Th Floor, 65, St. Marks Road, Bangalore-560 001 Pan: Aaccs0155P Appellant Respondent Deputy Commissioner Of Vs State Bank Of Mysore Income-Tax, Ltu, Circle-1, Head Office, Finance & Accounts Bangalore Department, Kg Road, Bangalore- 560 009 Pan: Aaccs0155P Appellant Respondent

ii) alleged infirmity in the method of profit computation 28 ITA 660 & 683/Bang /2015 State Bank of India / State Bank of Mysore adopted by the assessee. However, we find merit in the submission of the Ld. AR that the Act does not mandate the maintenance of separate books of account for claiming deduction under section 36(1)(viii), nor does

ITO 3(3)2, MUMBAI vs. SHAMROCK PHARMACHEMI P.LTD, MUMBAI

In the result appeal of the Revenue in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1774/Mum/2013 (नििाारण वर्ा / Assessment Year: 2009-10) बिाम/ Ito 3(3)2, M/S. Shamrock R.No. 602, Pharmachemi Pvt. Ltd., Aayakar Bhavan, 83E,Hansraj Pragi Bldg., V. M.K Road, Opp. Dr. E Moses Road, Mumbai 400020 Worli, Mumbai-400018 स्थायी ऱेखा सं./ Pan: Aaacs6290H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri. Ashim Kumar Modi (Cit- Dr), Shri V. Justin & Ms. Chaitna Ajaria Shri. Bharat L. Gandhi Assessee By: सुनवाई की तारीख /Date Of Hearing : 01.03.2019 घोषणा की तारीख /Date Of Pronouncement : 30.05.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 1774/Mum/2013, Is Directed Against Appellate Order Dated 29.10.2012, Passed By Learned Commissioner Of Income Tax (Appeals)-7, Mumbai (Hereinafter Called ―The Cit(A)‖) In Appeal Number Cit(A)-7/Ito-3(3)(2)/It-166/11-12, For Assessment Year 2009-10, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 29.12.2011 Passed By Learned Assessing Officer (Hereinafter Called ―The Ao‖) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called ―The Act‖) For Ay 2009-10. I.T.A. No.1774/Mum/2013

TDS on commission paid to overseas agents operating abroad? (iv) Whether the amendment of the Income Tax Act with retrospective effect from 1.6.1976 by the Finance Act, 2010 clarifying that income of non resident would be deemed to accrue or arise in India under Clause (v) or clause (vi) or clause (vii) of sub-section(1) and be included

BANK OF INDIA,MUMBAI vs. THE NATIONAL FACELESS ASSESSMENT CENTRE, MUMBAI

ii), being 1% of\naverage investments of Rs. 32,79,58,949/- to the exempt income Rs.\n27,63,18,249/-ignoring the clarificatory amendment brought in by Finance\nAct. 2022? Tax Effect: Rs. 1,78.72.846/- @34.61% of Rs.5.16.40,700/-)\n2. Whether on the facts and circumstances of the case and in law, the Id.\nCIT(A) has erred

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

32. From the above extracts from the judgment of jurisdictional High court, it is clear that the journal entries are hit by the relevant provisions of section 269SS of the Act. However, it is the finding of the Hon‟ble High court that completing the "empty formalities" of payments and repayments by issuing/receiving cheque to swap/squire up the transactions

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

32. From the above extracts from the judgment of jurisdictional High court, it is clear that the journal entries are hit by the relevant provisions of section 269SS of the Act. However, it is the finding of the Hon‟ble High court that completing the "empty formalities" of payments and repayments by issuing/receiving cheque to swap/squire up the transactions

DCIT CEN CIR 7(3), MUMBAI vs. GALAXY PREMISES P.LTD, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri G. Manjunatha

32. From the above extracts from the judgment of jurisdictional High court, it is clear that the journal entries are hit by the relevant provisions of section 269SS of the Act. However, it is the finding of the Hon‟ble High court that completing the "empty formalities" of payments and repayments by issuing/receiving cheque to swap/squire up the transactions