PEOPLE INERACTIVE (I) P. LTD,MUMBAI vs. PR CIT 7, MUMBAI

The appeals of the assessee are allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumar

TDS under law, such disallowance would ultimately increase assessee's profits from business of developing housing project. The ultimate profits of assessee after adjusting disallowance under section 40(a)(ia) of the Act would qualify for deduction under section 80

PEOPLE INERACTIVE (I) P.LTD,MUMBAI vs. PR CIT 7, MUMBAI

The appeals of the assessee are allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumar

TDS under law, such disallowance would ultimately increase assessee's profits from business of developing housing project. The ultimate profits of assessee after adjusting disallowance under section 40(a)(ia) of the Act would qualify for deduction under section 80

ASCENDAS PANVEL FTWZ PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, WARD 14(1)(1), MUMBAI

In the result, the appeals filed by the assessee are allowed in the above terms

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI MAKARAND VASANT MAHADEOKAR (Accountant Member)

section 80-IAB of the Income-tax Act, 1961, along with consequential issues relating to TDS credit, MAT computation, MAT credit

DY CIT CC 1(4), MUMBAI vs. M/S ULTRATECH CEMENT LTD , MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

section in respect of such asset shall be restricted to fifty per cent of the amount calculated at the percentage prescribed for an asset under clause (i) or clause (ii) or clause (iia), as the case may be”. 240 For the purpose of second proviso to section 32, the plant is considered as “acquired” only after all the machines

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CC 1(4), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

section in respect of such asset shall be restricted to fifty per cent of the amount calculated at the percentage prescribed for an asset under clause (i) or clause (ii) or clause (iia), as the case may be”. 240 For the purpose of second proviso to section 32, the plant is considered as “acquired” only after all the machines

ASCENDAS PANVEL FTWZ PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, WARD 14(1)(1), MUMBAI

In the result, the appeals filed by the assessee are\nallowed in the above terms

section 80-IAB of the Income-tax Act, 1961,\nalong with consequential issues relating to TDS credit, MAT\ncomputation, MAT credit

ASCENDAS PANVEL FTWZ PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, WARD 14(1)(1), MUMBAI

In the result, the appeals filed by the assessee are\nallowed in the above terms

section 80-IAB of the Income-tax Act, 1961,\nalong with consequential issues relating to TDS credit, MAT\ncomputation, MAT credit

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

DCIT -CC-1(4), MUMBAI vs. ULTRATECH CEMENT LTD. , MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

DCIT- CC- 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

DCIT - CC - 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

JT. CIT (OSD)- CC - 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly allowed as indicated above

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly allowed as indicated above

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

TDS / TCS, claimed on the basis of certificates filed by the appellant Company. 5) The Appelant craves leave to add, alter, amend or delete the aforesaid grounds of appeal from time to time as it may be advised upto the date of hearings. Apart from the above, UTCL has also filed following additional grounds: C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement

GATEWAY TERMINALS INDIA P.LTD,NAVI MUMBAI vs. DCIT PANVEL CIRCLE, MUMBAI

The appeal stands partly allowed in terms of our above order

TDS, the assessee would have received the surplus funds which could have been used for business purposes / repayment of loans etc. Accordingly, the interest liability would have been less and profits would have been more and therefore, the assessee would be eligible to claim deduction u/s 80-IA. Reliance was placed on the decision of Mumbai Tribunal

BHINMAL CONTRACTORS PROPERTY & LAND DEVELOPERS P. LTD,MUMBAI vs. ACIT 4(1), MUMBAI

In the result, appeals are allowed in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm

section 80-IA(4) itself provides that the assessee should develop the infrastructure facility as per the agreement with the Central Government, State Government or a local authority. So, entering into a lawful agreement and thereby becoming a contractor should, in no way, be a bar to the one being a developer. Therefore, merely because, in the TDS

ACIT/DCIT 31(2), MUMBAI vs. PATEL PRATIBHA JV, MUMBAI

In the result, appeal of the revenue is dismissed

TDS was deducted as a contractor. By the impugned order, CIT(A) allowed the assessee’s claim after observing as under :- “5.3. I have gone through the facts as well as the contentions of the appellant. Section 80

DCIT CIR 3(3), MUMBAI vs. ULKA SEA FOODS P.LTD, MUMBAI

In the result, appeals of the assessee are dismissed and appeals of the Revenue are partly allowed

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

80-IB of the Act.” After considering the arguments as well as the orders passed by the Ld. CIT(A), we find that the Ld. CIT(A) has decided the issue in question by relying upon the judgment rendered by the Hon'ble Supreme Court in the case of Liberty India