RAMESH JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

capital gains arising on shares offered under OFS, the cost of shares of Polycab India Ltd should be considered to be Fair Market Value ('FMV) of shares as on 31 January 2018in light of provision of Explanation a(i) Section 55(2)(ac) Without prejudice, provisions of section 55(2)(aa)(iia) of the Act cannot be imported into

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

section 244A of the Act, as may be due to the assessee, while giving effect to this order, in accordance with law. A.Y. 2023–24 - (ITA No. 6703/Mum/2025) Ground No. I - Addition on account of Short Term Capital Gains

DCIT 6(2)(1), MUMBAI vs. CEAT LTD, MUMBAI

In the result, appeal of the assessee is allowed, and departmental appeal is treated as infructuous

Bench: Shri Shamim Yahya, Am & Shri Pavan Kumar Gadale, Jm Dcit-6(2)(1) M/S. Ceat Ltd. Room No.563, Aaykar Bhawan Rpg House, 463 M.K.Road, Churchgate Vs. Dr. Annie Besant Road, Worli Mumbai-400 020 Mumbai-400 030

244A(1) granted to the assessee in the proceedings under section 143(1)(a) would be assessable in the year in which it is granted and not in the year in which proceedings under section 143(1)(a) attain finality.” 68. Therefore, while upholding in principle that the amount is to be taxed in the year of granting the refund

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

capital gains on equity\nshares. The CIT(A) upheld the said addition and rejected the\ncontention that the same was assessable under a different head.\nThe CIT(A) directed the Assessing Officer to verify and allow\ncorrect credit of tax deducted at source and treated the levy of\ninterest under sections 234B and 234C as consequential.\n10. Aggrieved

JSW STEEL LTD vs. ASST CIT CIR 11(5),

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

244A of the Act.” 4. The facts in brief qua the issue raised in the aforesaid grounds are that, assessee is a public limited company engaged in the business of manufacturing of hot rolled steel sheets and steel plates. For the assessment year 2004-05 assessee had filed its original return of income u/s 139(1) on 30.10.04, declaring loss

ASST CIT CIR 11(5) vs. JSW STEEL LTD,

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

244A of the Act.” 4. The facts in brief qua the issue raised in the aforesaid grounds are that, assessee is a public limited company engaged in the business of manufacturing of hot rolled steel sheets and steel plates. For the assessment year 2004-05 assessee had filed its original return of income u/s 139(1) on 30.10.04, declaring loss

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

244A", "Sec 154" ], "issues": "The key issues involved are the allowability of provision for leave encashment, deduction under section 80G for CSR expenditure, correct computation of TDS credit, taxability of short-term capital gains

PFIZER LTD,MUMBAI vs. ADDL CIT RG 8(2), MUMBAI

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2007-08 & Assessment Year: 2008-09 Pfizer Limited, Acit Range 8(2), Patel Estate, Off S.V. Rd. Aayakar Bahwan, बनाम/ Jogeshwari (W), M.K. Marg, Vs. Mumba-400102 Mumbai- (Assessee) (Revenue) P.A. No.Aaacp3334M

section 234C(1)(b). 12.2. There is no dispute on the fact that the exact estimate could not be done by the assessee on the amount of capital gains. The assessee has relied upon the judgment of Hon’ble Rajasthan High Court in the case of CIT vs. Smt. Premlata Jalani (supra), wherein view has been taken supporting the claim

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

capital gains on equity\nshares. The CIT(A) upheld the said addition and rejected the\ncontention that the same was assessable under a different head.\nThe CIT(A) directed the Assessing Officer to verify and allow\ncorrect credit of tax deducted at source and treated the levy of\ninterest under sections 234B and 234C as consequential.\n10. Aggrieved

LEGRAND NEDERLAND B.V.,MUMBAI vs. ASSTT. COMM. OF INCOME TAX 3(1)(2), MUMBAI

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

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blelegrand Nederland B.V. V. Acit (Intl. Taxation) – 3(1)(2) 16Th Floor, Air India Building 61/62, 6Th Floor Nariman Point, Mumbai Kalpatru Square, Kondivita Road Off. Andheri Road, Andheri (E) Mumbai - 400059 Pan: Aaccl1156B (Appellant) (Respondent) Assessee Represented By : Shri P.J. Pardiwala & Shri Prayas Jain Department Represented By : Shri Amit Kumar Soni

gains arising pursuant to capital reduction by Novateur as exempt from tax in view of Article 13 of the Tax Treaty and also erred in not granting refund along with interest under section 244A

H.U.F. OF HIS LATE HIGHNESS SIR J.M. SCINDIA,MUMBAI vs. ACIT RANGE -18(2)(4), MUMBAI

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

Bench: Us :-

244A of the Act for the period 21.10.1997 till the date of passing order u/s 143(3) of the Act i.e. 28.2.2000. 4.1. The ld. DR before us vehemently relied on the order of the ld. CIT(A). We hold that even if a particular claim of exemption from capital gains is made by the assessee for the first time

TOLANI SHIPPING CO. LTD.,MUMBAI vs. DCIT,CIR-5(3)(2), MUMBAI

In the result, this appeal by the assessee for A

Capital Gains' and did not fall within ambit of sections 28 to 43C - Whether in view of above, receipt in question could not be considered as turnover as per provisions of section 115VA and, thus, it was out of purview of Chapter- XII-G of Act - Held, yes - Whether, consequently, authorities below were justified in making separate addition in respect

M/S. STANDARD CHARTERED BANK,MUMBAI vs. THE ACIT (IT)1(3), MUMBAI

In the result, appeal filed by the assessee is allowed and appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blestandard Chartered Bank V. Acit – Range-1(3) Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Adit (It)– 2(3) V. Standard Chartered Bank Room No. 120, 1St Floor Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Shri P.J. Pardiwala & Assessee Represented By : Shri Fenil Bhatt Shri Soumendu Kumar Dash Department Represented By :

244A on account of assessment under Section 143(3), the interest granted in earlier year gets substituted and it is the reduced amount of interest that would form part of income of that year. Thus, it would amount to mistake rectifiable under Section 154 of the Act. In our opinion, if the basis, on which income was assessed is varied

IL&FS INVESTMENT MANAGERS LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 14(1)(1), MUMBAI

In the result the appeal filed by the assessee stands allowed

capital gains amounting\nof Rs.54,71,205/- and instead upholding Learned CPC's action to offset the loss against\nIncome from other sources only.\nThe appellant prays before Your Honours to direct the Learned CPC / jurisdictional\nAssessing Officer to allow the set-off and re-compute the total income\n\n4. Ground No. 4:\nOn the facts

IL&FS INVESTMENT MANAGERS LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 14(1)(1), MUMBAI

In the result the appeal filed by the assessee stands allowed

capital gains amounting\nof 54,71,205/- and instead upholding Learned CPC's action to offset the loss against\nIncome from other sources only.\nThe appellant prays before Your Honours to direct the Leamed CPC / jurisdictional\nAssessing Officer to allow the set-off and re-compute the total income\n\n4. Ground No. 4:\nOn the facts

INDER JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

capital gains arising on shares offered under OFS, the cost of shares of Polycab India Ltd should be considered to be Fair Market Value ('FMV) of shares as on 31 January 2018in light of provision of Explanation a(i) Section 55(2)(ac); Without prejudice, provisions of section 55(2)(aa)(ilia) of the Act cannot be imported into

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).

244A on account of assessment under section 143(3), the interest granted in earlier year gets substituted and it is the reduced amount of interest that would form part of income of that year. Thus, it would amount to mistake rectifiable under section 154 of the Act. In our opinion, if the basis, on which income was assessed is varied

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

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2009-10 Thermo Fisher Scientific India Dy. Cit-15(3)(1), Pvt. Ltd., Room No. 360, Aayakar Vs. 403-404, ‘B’ Wing, Delphi, Bhavan, New Marine Lines, Hiranandani Business Park, Mumbai-400020. Mumbai-400076. Pan No. Aabct 3207 A Appellant Respondent

244A of the IT Act in the computation sheet and delete the erroneous demand of Rs. 80,79,043. sheet and delete the erroneous demand of Rs. 80,79,043. sheet and delete the erroneous demand of Rs. 80,79,043. Ground 5 - Penalty proceeding Penalty proceeding 5.1 On the facts and in the circumstan On the facts

TATA MOTORS LTD,MUMBAI vs. DCIT LTU 2, MUMBAI

In the result, appeal of the assessee is allowed

capital gains tax u/s. 45 r.w.s 2(47) of the Act. 6.8. Considering the above facts of the case, it is respectfully submitted to your Honour that the in the captioned notice, reliance placed upon the decision of the Hon'ble Mumbai Tribunal in the case of ACIT v. ABC Bearings Ltd. (44 SOT 338) (enclosed as Exhibit