IDEA CELLULAR LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-3(2), MUMBAI

In the result, appeal of the assessee is partly allowed and appeal of the Revenue is allowed for statistical purposes

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘I’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

194H of the Act". 4. "Whether on the facts and circumstances of the case and in law, the Ld.CIT(A) has erred in disallowance of Rs. 28,29,08,135/- debited to the Profit & Loss Account towards amortization of the intrinsic value of shares under the Employee Stock Option Plan ('ESOP")". 5. "Whether on the facts and circumstances

THE DY CIT, CIRCLE-4(1)(2),, AHMEDABAD vs. VODAFONE WEST LIMITED,, AHMEDABAD

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

gains tax as per the provisions of section 47(iii) of the Act.\nThe AO considered the market value of PI assets, which was Rs.503.86 crores\nas the deemed sale consideration. Since the PI assets were depreciable\nassets, the AO reduced the WDV of the plant and machinery block by the\naforesaid deemed sale consideration. Considering the fact that

VODAFONE WEST LIMITED,(FORMERLY KNOWN AS VODAFONE ESSAR GUJARAT LIMITED),AHMEDABAD vs. THE DY.CIT, CIRCLE-4(1)(2),, AHMEDABAD

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

gains tax as per the provisions of section 47(iii) of the Act.\nThe AO considered the market value of PI assets, which was Rs.503.86 crores\nas the deemed sale consideration. Since the PI assets were depreciable\nassets, the AO reduced the WDV of the plant and machinery block by the\naforesaid deemed sale consideration. Considering the fact that

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI, MUMBAI vs. TATA AIG GENERAL INSURANCE CO. LTD, MUMBAI

In the result the appeal of the revenue’s bearing ITA No

Bench: Shri Anikesh Banerjee & Shri Jagadish

capital gain by way of filing of revised return under section 139(5) of the Act. Thus, the aforesaid CBDT circular has given a concession to the assessee which cannot be denied since circulars issued by the CBDT are binding on the Department. To this effect, assessee placed reliance on the decision of Hon'ble Supreme Court in the case

TATA AIG GENERAL INSURANCE COMPANY LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME-TAX-8(3)(1), MUMBAI

In the result the appeal of the revenue’s bearing ITA No

Bench: Shri Anikesh Banerjee & Shri Jagadish

capital gain by way of filing of revised return under section 139(5) of the Act. Thus, the aforesaid CBDT circular has given a concession to the assessee which cannot be denied since circulars issued by the CBDT are binding on the Department. To this effect, assessee placed reliance on the decision of Hon'ble Supreme Court in the case

DCIT, NEW DELHI vs. M/S. VODAFONE ESSAR DIGILINK LTD., NEW DELHI

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

gains of eligible business for the first five years and upto 30% for the remaining five years in the ten consecutive assessment years out of the fifteen years starting from the time the enterprise started its operation. The legislature having ousted applicability of sub-section (1) and (2) in the opening sentence brought in for the purposes of time line

VODAFONE DIGILINK LIMITED,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME-TAX, NEW DELHI

gains\nof eligible business for the first five years and upto 30%\nfor the remaining five years in the ten consecutive\n assessment years out of the fifteen years starting from the\ntime the enterprise started its operation. The legislature\nhaving ousted applicability of sub-section (1) and (2) in\nthe opening sentence brought in for the purposes of time

VODAFONE INDIA LTD,MUMBAI vs. ASST CIT 8(3)(2), MUMBAI

gains of eligible business for the first five years and upto 30% for the remaining five years in the ten consecutive assessment years out of the fifteen years starting from the time the enterprise started its operation. The legislature having ousted applicability of sub-section (1) and (2) in the opening sentence brought in for the purposes of time line

DCIT 8(3)(2), MUMBAI vs. M/S VODAFONE IDEA LIMITED (EARLIER KNOWN AS VODAFONE INDIA LIMITED WHICH NOW STANDS MERGED WITH IDEA CELLULAR LIMITED (ICL) AND CONSEQUENTLY KNOWN AS VODAFONE IDEA LIMITED), MUMBAI

gains of eligible business for the first five\nyears and upto 30% for the remaining five years in\nthe ten consecutive assessment years out of the\nfifteen years starting from the time the enterprise\nstarted its operation. The legislature having ousted\napplicability of sub-section (1) and (2) in the\nopening sentence brought in for the purposes of\ntime line

VODAFONE INDIA LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-8(3)(2), MUMBAI

gains of eligible business for the first five\nyears and upto 30% for the remaining five years in\nthe ten consecutive assessment years out of the\nfifteen years starting from the time the enterprise\nstarted its operation. The legislature having ousted\napplicability of sub-section (1) and (2) in the\nopening sentence brought in for the purposes of\ntime line

VODAFONE INDIA LTD,MUMBAI vs. DCIT 7(3), MUMBAI

In the result, the appeal of the assessee is treated as allowed and the appeal of the revenue is dismissed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

gain was rejected. We find that in assessee’s appeal for assessment year 2005-06 in ITA No.5078/Mum/2017 dated 28/12/2022, the Tribunal has accepted assessee’s claim of deduction u/s 80IA of the Act on other incomes, viz., interest income and miscellaneous income. Following the order of Co-ordinate Bench, ground no.3 of the appeal is allowed, protanto

DCIT CIRCLE 2.3.1, MUMBAI, MUMBAI vs. PRESTIGE HOLIDAY RESORTS PRIVATE LIMITED, MUMBAI

In the result, ground no. 2 and 3 are

Bench: Shri Pawan Singh& Shri Arun Khodpia

194H, wherein certain commission agent failed to give their PAN tax was deducted @ 20%. Out of 16 agents, who failed to reply during assessment, 7 of them confirmed receipt of commission payment after completion of assessment. The names of 8 other/remaining persons were also provided whose contract was terminated. 13. The ld CIT(A) deleted the addition by holding that

DCIT CIRCLE 2.3.1, MUMBAI, MUMBAI vs. PRESTIGE HOLIDAY RESORTS PRIVATE LIMITED, MUMBAI

In the result, ground no. 2 and 3 are

Bench: Shri Pawan Singh& Shri Arun Khodpia

194H, wherein certain commission agent failed to give their PAN tax was deducted @ 20%. Out of 16 agents, who failed to reply during assessment, 7 of them confirmed receipt of commission payment after completion of assessment. The names of 8 other/remaining persons were also provided whose contract was terminated. 13. The ld CIT(A) deleted the addition by holding that

BE HEALTHY PHARMACY,MUMBAI vs. DCIT 41(3)(1), KAUTILYA BHAVAN, MUMBAI

Bench: Shri Anikesh Banerjee (Jm) & Shri Omkareshwar Chidara (Am) Be Healthy Pharmacy Pcit-41 Shop No. 04, Gala Residency Room No. 541 Chsl, Gala Compound, Haji Vs. Kautilya Bhavan, Bkc Bapu Road, Malad East C-41 To 43 Mumbai-400 097. Bandra-E, Mumbai-51. Pan : Aatfb6476A Appellant Respondent

194H of the Act was deducted. The nature of these payment were also not enquired by AO. The AO did not get full details of “Listing Fees”, nor enquired. Similarly, the appellant’s claim of applicability of section 194-O of the Act also was not questioned by AO. In view of all these facts, the Ld. PCIT has only

DCIT - 14(2)(1), MUMBAI vs. IDEA CELLULAR LTD., MUMBAI

In the result, the ground no

194H of the Act, the assessee ought to have deduct TDS on income\npayable to the distributors @10%, where the assessee sells SIM cards to distributors, at\ncertain percentage of discount which has been considered as income in the hands of the\ndistributors by the revenue. The Hon'ble High Court held that in such cases, there is no\nrelationship

IDEA CELLULAR LTD,MUMBAI vs. ACIT HQ (JUDL.) TO CIT-14, MUMBAI

In the result, the ground no

194H of the Act, the assessee ought to have deduct TDS on income\npayable to the distributors @10%, where the assessee sells SIM cards to distributors, at\ncertain percentage of discount which has been considered as income in the hands of the\ndistributors by the revenue. The Hon'ble High Court held that in such cases, there is no\nrelationship

DCIT-5(2)(2), MUMBAI vs. M/S VODAFONE IDEA LTD., MUMBAI

In the result, the ground no

194H of the Act, the assessee ought to have deduct TDS on income\npayable to the distributors @10%, where the assessee sells SIM cards to distributors, at\ncertain percentage of discount which has been considered as income in the hands of the\ndistributors by the revenue. The Hon'ble High Court held that in such cases, there is no\nrelationship

DCIT - 14(2)(1), MUMBAI vs. IDEA CELLULAR LTD., MUMBAI

In the result, the ground no

194H of the Act, the assessee ought to have deduct TDS on income\npayable to the distributors @10%, where the assessee sells SIM cards to distributors, at\ncertain percentage of discount which has been considered as income in the hands of the\ndistributors by the revenue. The Hon'ble High Court held that in such cases, there is no\nrelationship