ENTERTAINMENT NETWORK (INDIA) LTD,MUMBAI vs. ASST CIT RG 11(1), MUMBAI

In the result, the appeals of the assessee in ITA No

Bench: Shri Sandeep Gosain & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.852/Mum/2016 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Entertainment Network Acit 16(1), Room No. 439, 4T H Floor, Aayakar Bhavan, (India) Ltd., M.K Road, 4T H Floor, A Wing, V. Mumbai- 400020 Matulya Centre, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013 स्थायी ऱेखा सं./ Pan :Aaace7796G आयकर अपीऱ सं./I.T.A. No.812/Mum/2016 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Acit 16(1), Room No. 439, Entertainment Network 4T H Floor, Aayakar Bhavan, (India) Ltd., M.K Road, Mumbai 400020 4T H Floor, A Wing, V. Matulya Centre, Senapati Bapat Marg, Lower Parel(West), Mumbai-400013 स्थायी ऱेखा सं./ Pan : Aaace7796G (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

Section 194H of the 1961 Act will depend upon facts and circumstances of each case and hence it was held that there is a need to evaluate the factual matrix of each case before applying provisions of Section 194H of the 1961 Act to advertising agency commissions paid by Media/Broadcasting companies including evaluating commercial terms and conditions of the contract

DCIT 9(3)(2), MUMBAI vs. FUTURA VALUE RETAIL LTD, MUMBAI

In the result, the appeal of the Revenue in ITA no

Bench: Shri C.N Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6705/Mum/2016 (नििाारण वर्ा / Assessment Year: 2012-13) बिाम/ Acit-9(3)(2), M/S. Future Value 418, 4Th Floor, Retail Ltd., Aayakar Bhavan, Knowledge House, V. Mumbai-400020 Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (E), Mumbai-400060 स्थायी ऱेखा सं./ Pan: Aaecp3041P (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri. Sushil Kumar Poddar (Dr) Assessee By: Ms. Dinkle Hariya सुनवाई की तारीख /Date Of Hearing : 12.06.2019 घोषणा की तारीख /Date Of Pronouncement : 04.07.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 6705/Mum/2016, Is Directed Against Appellate Order Dated 23.08.2016, Passed By Learned Commissioner Of Income Tax (Appeals)-16,Mumbai (Hereinafter Called “The Cit(A)”) In Ita No. Cit(A)/ I.T.305/Dcit-9(3)(2)/2015-16, For Assessment Year 2012-13, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 29.03.2015 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 2012-13. I.T.A. No.6705/Mum/2016

Gains of Business or Profession'. 4.2.4 The AR of the assessee relied upon the order of the Hon'ble ITAT, Jaipur in the case of Gems Paradise Limited v ACIT, order of the Hon'ble ITAT, Hyderabad on the case of DCIT vs. Vah Magna Retail Pvt. Ltd., order of the Hon'ble ITAT, Bangalore in the case of Tata

MAHINDRA & MAHINDRA LTD,MUMBAI vs. ACIT CIR 2(2)2, MUMBAI

In the result, all the appeals of the assessee are partly allowed for statistical purposes and appeal of the revenue is dismissed

Bench: Shri Mahavir Singh, Vp & Shri M.Balaganesh, Am & Sa No.462/Mum/2019 (Arising Out Of Ita No.1449/Mum/2016) (Assessment Year : 2011-12) Mahindra & Mahindra Vs. Dy. Commissioner Of Limited, Income-Tax Corporation Taxation, Circle-2(2)(2) P.K. Kurne Chowk, Aayakar Bhavan, Worli, Mumbai – 400020 M.K.Road, Mumbai-400020 Pan/Gir No.Aaacm3025E (Appellant) .. (Respondent) & Sa No.461/Mum/2019 (Arising Out Of Ita No.7382/Mum/2017) (Assessment Year : 2013-14) Mahindra & Mahindra Vs. Dy. Commissioner Of Limited, Income-Tax Corporation Taxation, Circle-2(2)(2) P.K. Kurne Chowk, Aayakar Bhavan, Worli, Mumbai – 400020 M.K.Road, Mumbai-400020 Pan/Gir No.Aaacm3025E (Appellant) .. (Respondent) Dy. Commissioner Of Vs. Mahindra & Mahindra Limited, Income-Tax Corporation Taxation, Circle-2(2)(2) P.K. Kurne Chowk, Aayakar Bhavan, Worli, Mumbai – 400020 M.K.Road, Mumbai- 400020 Pan/Gir No.Aaacm3025E (Appellant) .. (Respondent) Mahindra & Mahindra Vs. Asst. Commissioner Of Limited, Income-Tax Corporation Taxation, Circle-2(2)(2) P.K. Kurne Chowk, Aayakar Bhavan, Worli, Mumbai – 400020 M.K.Road, Mumbai-400020 Pan/Gir No.Aaacm3025E (Appellant) .. (Respondent)

gain would be taxable under section 45 of the Act. In this connection, it was noted that when preference shares are redeemed by the company, the shareholder money in lieu thereof. 14. In our opinion, the aforesaid decision of this Court in Anarkali Sarabhai's case (supra) is applicable in the instant case. The only difference in the present case

KAMLESH GUPTA ,MUMBAI vs. DCIT - 13(3)(1),MUMBAI, MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri S. Rifaur Rahman () & Shri Ravish Sood () Kamlesh Gupta Dy. Commissioner Of 59, Mount Unique 62-A, Vs. Income-Tax (13)(3)(1) Peddar Road, Room No. 229, Aayakar Bhavan, Mumbai – 400 026 M.K. Road, Mumbai – 400 020 Pan No. Aegpg6788R

capital gain of Rs.5,93,45,030/- earned from such sale be held as eligible for exemption under that section. GROUND NO. 3 - AGAINST ADDITION OF Rs. 6,06,49,780/- UNDER SECTION 68 OF THE ACT RELATING TO PROCEEDS FROM SALE OF SHARES IN JMD TELEFILMS LIMITED a) The CIT (A) has erred in confirming the addition made

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

DEPUTY COMMISSIONER OF INCOME TAX-14(2)(1), MUMBAI vs. IDEA CELLULAR LIMITED, MUMBAI

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

Bench: 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

IDEA CELLULAR LTD,MUMBAI vs. DCIT 3(2), MUMBAI

In the result, appeal of the Revenue in ITA No

194H of the Act and hence there cannot be any obligation on the part of the assessee to deduct tax at source thereon and consequentially there cannot be any disallowance u/s 40(a)(ia) of the Act. Accordingly, the Ground No. II raised by the assessee is allowed. The Ground No. I raised by the assessee is only supporting

DCIT 3(2), MUMBAI vs. IDEA CELLULAR LTD, MUMBAI

In the result, appeal of the Revenue in ITA No

194H of the Act and hence there cannot be any obligation on the part of the assessee to deduct tax at source thereon and consequentially there cannot be any disallowance u/s 40(a)(ia) of the Act. Accordingly, the Ground No. II raised by the assessee is allowed. The Ground No. I raised by the assessee is only supporting

DCIT (TDS) CIR. - 1(2), MUMBAI vs. FIRST SOURCE SOLUTIONS LTD., MUMBAI

In the result, appeal filed by the revenue for assessment year 2012-2013

Bench: Shri B.R. Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2012-13 The Dcit (Tds)-1 (2), M/S First Source Solutions Ltd., Room No. 803, 5Th Floor, Paradigm, K.G. Mittal Hospital Bldg., B-Wing, Mindspace Link Road, Charni Road (W), Vs. Malad (W), Mumbai - 400002 Mumbai - 400064 Pan: Aaaci8904N (Appellant) (Respondent) Revenue By : Shri S. Padmaja (Cit Dr) Assessee By : Shri F.V. Irani (Ar) Date Of Hearing: 13/12/2017 Date Of Pronouncement: 19/01/2018

capital gains arising from the transfer of such bonds or Global Depository Receipts is payable to a non-resident, the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft

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

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

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

ACIT CIRCLE- 16 (1), MUMBAI vs. M/S TATA SKY LTD., MUMBAI

In the result, revenue’s appeals are dismissed and assessee’s appeals are allowed for statistical purpose

Bench: Shri Shamim Yahya (Am) & Shri Pavan Kumar Gadale (Jm)

194H of the IT Act? 1.2 Whether on the facts and in the circumstances of the case and in law, the Ld.CIT(A) has erred in directing the AO to delete the said addition of Rs. 118,25,35,046/-considering that any kind of "Netting Off of gross receipts, if permitted shall not give "true and fair view

TATA SKY LIMITED,MUMBAI vs. ASST CIT RANGE 16 (1), MUMBAI

In the result, revenue’s appeals are dismissed and assessee’s appeals are allowed for statistical purpose

Bench: Shri Shamim Yahya (Am) & Shri Pavan Kumar Gadale (Jm)

194H of the IT Act? 1.2 Whether on the facts and in the circumstances of the case and in law, the Ld.CIT(A) has erred in directing the AO to delete the said addition of Rs. 118,25,35,046/-considering that any kind of "Netting Off of gross receipts, if permitted shall not give "true and fair view

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

ACIT 4(2)(1), MUMBAI vs. SHCIL SERVICES LTD, MUMBAI

Accordingly, ground raised by assessee is dismissed

Bench: Shri S. Rifaur Rahman & Shri Ram Lal Negiacit-4(2)(1) Vs. M/S Shcil Services Ltd. Room No.642, 6Th Floor 12/14 Uti Building Aaykar Bhawan, M.K.Road Bank Street, Cross Line Mumbai-400 020 Near Old Custom House Fort, Mumbai-400 023 Pan/Gir No.Aajcs5661H Appellant) .. Respondent) & M/S Shcil Services Ltd. Vs. Dcit-4(2)(1) C/O Kalyaniwalla&Mistry Llp Room No.669, 6Th Floor Army & Navy Building Aaykar Bhawan, M.K.Road 3Rd Floor, 148, M.G.Road Mumbai-400 020 Mumbai-400 001 Pan/Gir No.Aajcs5661H Appellant) .. Respondent) Assessee By Nitesh Joshi Revenue By T.Kipgen

194H, the transaction would not come within the ambit of Section 194J and further that the above noted explanation makes a specific exclusion from the requirement of deducting tax at source in respect to payment of sub-brokerage. The CIT(A) and the Tribunal, therefore, correctly applied the statutory provisions and deleted the disallowance made by the Assessing Officer