STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

depreciation on Automated Tailor Machine (ATM) and 3 other computer peripherals by reclassifying as Plant & Machinery Disallowance of certain liabilities by treating as contingent liability 4 Disallowance of deduction under section 36(1)(viii) 5 Disallowance of unamortized incremental payment / contribution to 6 approved gratuity fund and payment/contribution to approved pension fund Disallowance of contribution to retired employees medical benefit

DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

depreciation on Automated Tailor Machine (ATM) and 3 other computer peripherals by reclassifying as Plant & Machinery Disallowance of certain liabilities by treating as contingent liability 4 Disallowance of deduction under section 36(1)(viii) 5 Disallowance of unamortized incremental payment / contribution to 6 approved gratuity fund and payment/contribution to approved pension fund Disallowance of contribution to retired employees medical benefit

RAMKRISHNA BAJAJ CHARITABLE TRUST,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 26(1), MUMBAI, MUMBAI

Bench: Shri Amit Shukla, Jm & Shri Arun Khodpia, Am

1 April, 2015 and will be applicable from Assessment Year 2015 2016 onwards. Similar amendment, simultaneously introduced through Section 11(6) of the Act by the Finance (No.2) Act, 2014, in respect of the deduction for depreciation

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

Depreciation of investments of Rs.46,19,11,355. (d) Deduction allowed under section 36(1) (viia) of Rs. 159,22,24,604. (e) Excess

NAVAJBAI RATAN TATA TRUST ,MUMBAI vs. PR CIT 17, MUMBAI

Bench: Us, Are As Follows: Page 2 Of 47 1 A) The Impugned Order Dated 31.10.2019 Passed By The Learned Principal Commissioner Of Income-Tax-17 ('Pcit') Under Section 12Aa(3)/(4) Of The Income-Tax Act, 1961 ('Ita') Cancelling The Registration Of The Appellant Is Without Jurisdiction And, Hence, Void Ab Initio.

1) of the ITA which would be construed as an activity of the Trust which is being carried out in a manner that provisions of section 11 and 12 of the ITA do not apply to exclude either whole or any part of the income of the Trust, resulting in withdrawal of the registration under section

JAMSETJI TATA TRUST ,MUMBAI vs. PR CIT 17, MUMBAI

Bench: Us, Are As Follows: Assessment Year: 2019-20

1) of the ITA which would be construed as an activity of the Trust which is being carried out in a manner that provisions of section 11 and 12 of the ITA do not apply to exclude either whole or any part of the income of the Trust, resulting in withdrawal of the registration under section

TATA EDUCATION TRUST,MUMBAI vs. PR CIT 17, MUMBAI

1) of the ITA which would be construed as an activity of the Trust which is being carried out in a manner that provisions of section 11 and 12 of the ITA do not apply to exclude either whole or any part of the income of the Trust, resulting in withdrawal of the registration under section

SARVAJANIK SEVA TRUST ,MUMBAI vs. PR CIT 17, MUMBAI

Bench: Us, Are As Follows: Assessment Year: 2019-20

1) of the ITA which would be construed as an activity of the Trust which is being carried out in a manner that provisions of section 11 and 12 of the ITA do not apply to exclude either whole or any part of the income of the Trust, resulting in withdrawal of the registration under section

R D TATA TRUST,MUMBAI vs. PR CIT 17, MUMBAI

Bench: Us, Are As Follows: Assessment Year: 2019-20

1) of the ITA which would be construed as an activity of the Trust which is being carried out in a manner that provisions of section 11 and 12 of the ITA do not apply to exclude either whole or any part of the income of the Trust, resulting in withdrawal of the registration under section

TATA SOCIAL WELFARE TRUST,MUMBAI vs. PR CIT 17, MUMBAI

Bench: Us, Are As Follows: Assessment Year: 2019-20

1) of the ITA which would be construed as an activity of the Trust which is being carried out in a manner that provisions of section 11 and 12 of the ITA do not apply to exclude either whole or any part of the income of the Trust, resulting in withdrawal of the registration under section

KETAN BROTHERS DIAMONDS EXPORTS ,MUMBAI vs. ACIT 23(2) /ACIT 23(1) , MUMBAI

In the result, appeal by the assessee is allowed for statistical purpose

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

depreciation on motor car.” 3. The first issue arising in present appeal is pertaining to disallowance of Rs.32,140, on account of alleged delay in payment towards employee’s contribution to Provident Fund (P.F.) under section 36(1)(va) r/w section 2(24) of the Act, by the Centralized Processing Centre, Bengaluru, while processing the income tax return under section

THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL,MUMBAI vs. ASST CIT (E) RG 2(1), MUMBAI

In the result, all the appeals of the assessee are allowed for 10

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13 & Assessment Year: 2013-14 The Gem & Jewellery Export Acit (Exemptions) Range- Promotion Council, 2(1), Vs. Tower-A, Aw-1010, G Block, 5Th Floor, Room No. 519, Bharat Diamond Bourse, Piramal Chambers, Lalbaug, B.K.C., Bandra East, Mumbai-400012. Mumbai-400051. Pan No. Aaatt 3202 H Appellant Respondent Assessment Year: 2014-15 The Gem & Jewellery Export Dcit (Exemptions) Range- Promotion Council, 2(1), Tower-A, Aw-1010, G Block, Vs. 5Th Floor, Piramal Chambers, Bharat Diamond Bourse, Lalbaug, B.K.C., Bandra East, Mumbai-400012. Mumbai-400051. Pan No. Aaatt 3202 H Appellant Respondent

11 are reproduced as under: 17 The Gem & Jewellery Exports Promotion Council The Gem & Jewellery Exports Promotion Council ITA No. 752/M/2017, 989/M/2019 & 2250/M/2019 AYs 2012-13, 2013-14 & 2014-15 AYs 2012 “GROUNDS OF APPEAL: GROUNDS OF APPEAL: 1 Whether on the facts of the case and in law the la CITCA) 1 Whether on the facts of the case

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

depreciable asset under section 32(1)(ii) of the Act section 32(1)(ii) of the Act. Even otherwise, this issue is concluded Even otherwise, this issue is concluded by the decision of the Hon'ble Supreme Court in Smifs Securities by the decision of the Hon'ble Supreme Court in Smifs Securities by the decision

PUNJAB KESARI CHARITABLE TRUST,MUMBAI vs. INCOME TAX OFFICER (EXEMPTION) WARD 2(2), MUMBAI

The appeal of the appellant is allowed in above terms

Bench: Prashant Maharishi, Am & Shri Raj Kumar Chauhan, Jm Income Tax Officer (Exemption) – 2(2) Punjab Kesari Charitable Room No. 502, Trust, 5Th Floor, 242, Bhandar Galli, Vs. Piramal Chamber, L.J. Road, Mahim- 400016 Lalbaug- 400012, Mumbai. (Appellant) (Respondent) Pan No. Aaatp0040R Assessee By : Shri. S. M. Kapoor Revenue By : Ms Madhu Malati Ghosh (Cit-Dr)

depreciation of Rs.26,21,923/- was disallowed on account of double deduction claimed by the assessee. Further, the assessee has claimed exemption Under Section 11 of the Act, with regard to income from dispensaries and hospital to the tune of Rs. 6,21,14,204/-. The Ld. Assessing Officer has disallowed the said amount claimed as exemption holding that

DENA BANK,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX 2, MUMBAI

In the result, appeal filed by the assesse is allowed

Bench: Shri G. Manjunatha & Shri Ravish Sooddena Bank Vs. Pcit-2 Room No.344, 3Rd Floor Accounts Department Dena Bank Building Aaykar Bhawan 2Nd Floor M.K.Road 17/B, Horniman Circle Mumbai-400 020 Fort, Mumbai-400 023 Pan/Gir No.Aaacd4249B Appellant) .. Respondent)

depreciation on value of investments and re- computation of deduction claimed u/s 36(1)(viia) and 36(1)(viii), in respect of provisions of bad debts, as well as bad debt written off. 4. Subsequently, the Ld.PCIT-2, Mumbai has issued a show cause notice u/s 263 of the I.T.Act, 1961 and called upon the assessee to explain

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed, as indicated above

Bench: Sri Mahavir Singh, Vp & Sri G Manjunatha, Am आयकर अपील सुं./ Ita No. 3644/Mum/2016 (ननर्ाारण वर्ा / Assessment Year 2008-09) State Bank Of India The Dy. Commissioner Of 3Rd Floor, Corporate Centre Income Tax, Circle -2(2)(1) बनाम/ Madam Cama Road Mumbai Vs. Nariman Point Mumbai-400021 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacs8577K

11. He stated that provisions of Section 37(1) of the Act grants a deduction from the profit of the business in respect of any expenditure not been in the nature of capital expenses or personal expenses laid out wholly and exclusively for the purpose of business. He stated that provisions of Section 43B of the Act are not applicable

DOW CHEMICALS INTERNATIONAL PRIVATE LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TA-14(1)(2), MUMBAI

In the result, the appeal by the assessee for the

Section\n32(1)(ii) of the Act and were accordingly eligible for depreciation under that\nSection.\"\n35. Further, we find that the coordinate bench of the Tribunal in SKS Micro\nFinance Ltd. v/s DCIT, reported in [2013] 37 taxmann.com 192 (Hyd. - Trib.)\nheld that where the taxpayer was engaged in the business of micro-financial\nlending services

ACIT - 14(2) (2), MUMBAI vs. PFIZER LTD, MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

1) of section 32, "depreciation actually allowed" shall not include depreciation allowed under sub- clauses (a), (b) and (c) of clause (vi) of sub-section (2) of section 10 of the Indian Income-tax Act, 1922 (11