DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

1) or section 37 of the Act merely by 37 of the Act merely by virtue of its being allowable u/s 35(2AB). Further, virtue of its being allowable u/s 35(2AB). Further, if the expenses are liable for TDS

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

1) or section 37 of the Act merely by 37 of the Act merely by virtue of its being allowable u/s 35(2AB). Further, virtue of its being allowable u/s 35(2AB). Further, if the expenses are liable for TDS

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

1) or section 37 of the Act merely by 37 of the Act merely by virtue of its being allowable u/s 35(2AB). Further, virtue of its being allowable u/s 35(2AB). Further, if the expenses are liable for TDS

BALRAJSINGH JAGJITSINGH KHARBANDA,MUMBAI vs. ADIT, CPC , BANGALORE

In the result, appeal of the assessee is In the result, appeal of the assessee is dismissed dismissed

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2019-2020 Balrajsinghjagjitsingh Adit, Cpc Bangalore, Kharbanda, Cpc, Bangalore-560500. C/3, Ravi Darshan, Sherly Vs. Rajan Road, Bandra West, Mumbai-400050. Pan No. Adhpk 1733 G Appellant Respondent Assessee By : Mr. Rajesh S. Kothari Revenue By : Kamble Minal Mohan, Dr : Date Of Hearing 05/06/2023 : Date Of Pronouncement 07/06/2023 Order

section 139; or (vi) addition of income appearing in Form 26AS or Form 16A or (vi) addition of income appearing in Form 26AS or Form 16A or (vi) addition of income appearing in Form 26AS or Form 16A or Form16 which has not been included in computing the tota Form16 which has not been included in computing the tota Form16

ACIT 14 (1)(2), MUMBAI, MUMBAI vs. SHRIRAM CHITS MAHARASTRA LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2017-18

37 of the Act and non the Act and non- allowable expenditure as per section 40, 43B. allowable expenditure as per section 40, 43B. The same are applicable for claiming the interest paid on late applicable for claiming the interest paid on late remittance of TDS. remittance of TDS. 7. Interest as defined in section

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

37(1)\nmerely prohibits allowance of CSR expenditure as business\nexpenditure while computing income under the head “Profits and\ngains of business or profession”, but does not operate as a bar\nagainst claiming deduction under Chapter VI-A, particularly\nunder section 80G of the Act.\n32. The Co-ordinate Bench in the said decision has further held\nthat section

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)

1-4-1989) has inserted Section 244A to the Act which provides for interest on refunds under various contingencies. We clarify that it is only that interest provided for under the statute which 30 I.T.A. No.7620/Mum/2016 may be claimed by an assessee from the Revenue and no other interest on such statutory interest." (Emphasis Supplied) 20. The question before

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

TDS credit was allowed on (30) ITA No. 6663, 6701, 6702 & 6703 /Mum/2025 Aditya Birla Sun Life AMC Limited the basis of Form 26AS and, in absence of reconciliation to his satisfaction, no further credit could be allowed. Ground No. VII -Levy of interest under section 234D – Rs. 5,26,845/- 61. The Assessing Officer levied interest under section 234D

STRIDES PHARMA SCIENCE LIMITED,MUMBAI vs. INCOME TAX OFFICER, 15(3)(2),, MUMBAI

In the result, the appeal of the assessee is partly allowed

37(1) of\nthe Act, they are specifically excluded in clarification issued. There is no restriction\non an expenditure being claimed under above sections to be exempt, as long as it\nsatisfies necessary conditions under section 30 to 36 of the Act, for computing income\nunder the head, \"Income from Business and Profession\".\n16. For claiming benefit under section

JAMNADAS VIRJI SHARES AND STOCK BROKERS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 4(3)(1), MUMBAI

TDS, although appearing in Form 26AS\nand granted credit for in the intimation under section 143(1).\n13. The AO erred in levying interest under section 234A of Rs.\n1,770/-/- and CIT(A) erred in confirming the same.\n14. The AO erred in levying interest under section 234B of Rs.\n26,928/- and under section 234C

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

section 40(a)(ia) of the Act – Rs.8,10,18,335/- 26. During the year under consideration, the assessee Bank incurred and claimed Advertisement Expenses, Audit Fees and Law charges u/s. 37(1) of the Act since the same were incurred wholly and exclusively for the purpose of the business of the assessee. During the course of the assessment proceedings

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

JOINT COMMISSIONER OF INCOME TAX (OSD)-I/C DCIT CIRCLE 8(3)(1), MUMBAI vs. M/S TATA AIG GENERAL INSURANCE CO. LTD, MUMBAI

37(1) of the Income Tax Act, 1961, when the same was in violation of section 101A(7) r.w.s. 2(9) of the Insurance Act?\"\nc) \"Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred by upholding that the provisions of section 40(a)(i) of the Income

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

37(1)\nmerely prohibits allowance of CSR expenditure as business\nexpenditure while computing income under the head “Profits and\ngains of business or profession”, but does not operate as a bar\nagainst claiming deduction under Chapter VI-A, particularly\nunder section 80G of the Act.\n32. The Co-ordinate Bench in the said decision has further held\nthat 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)

1) of the Act: (a) adjustment of INR.1,67,98,699/- under Section 43B of the Act on account of Leave encashment liability, (b) adjustment of INR.5,87,81,517/- under Section 43B of the Act on account of bonus/commission paid to AY 2020-2021, 2021-2022 & 2022-2023 employee, and (c) adjustment of INR.2,27,82,861/- on account

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)

1) of the Act: (a) adjustment of INR.1,67,98,699/- under Section 43B of the Act on account of Leave encashment liability, (b) adjustment of INR.5,87,81,517/- under Section 43B of the Act on account of bonus/commission paid to AY 2020-2021, 2021-2022 & 2022-2023 employee, and (c) adjustment of INR.2,27,82,861/- on account

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)

1) of the Act: (a) adjustment of INR.1,67,98,699/- under Section 43B of the Act on account of Leave encashment liability, (b) adjustment of INR.5,87,81,517/- under Section 43B of the Act on account of bonus/commission paid to AY 2020-2021, 2021-2022 & 2022-2023 employee, and (c) adjustment of INR.2,27,82,861/- on account