AGARWAL HOLDINGS PRIVATE LIMITED ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, MUMBAI

In the result, the appeal by the assessee is dismissed

Bench: Shri Sandeep Singh Karhailshri Girish Agrawalagarwal Holdings Private Ltd. 211, 2Nd Floor Atlanta Arcade, Marol Church Road Marol, Andheri (East) Mumbai - 400059 ............... Appellant Pan: Aauca5094K V/S Principal Commissioner Of Income Tax, Mumbai-1 ……………… Respondent Room No.330, 3Rd Floor, Aayakar Bhavan, Maharishi Karve Road, Mumbai Assessee By : Shri Ashok Bansal Revenue By : Shri Rajesh Kumar Yadav, Cit-Dr

section 142(1) of the Act were issued and served on the assessee: - “• Large squared up loans during the year  Large short -term capital gains declared u/s 111A  Expenditure debited to P&L for earning Exempt Income is very less in comparison to the Investments made to earn exempt income • Substantial payments shown to entities not registered under GST  Claim

TATA AIG GENERAL INSURANCE COMPANY LIMITED (TAGIC),MUMBAI vs. ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, ASSESSMENT UNIT, INCOME-TAX DEPARTMENT

111A of the Act and section 112 of the Act on short\nterm gains and long term gains, respectively.\n5. The learned CIT(A), on the facts and circumstances of the case and in law, erred in confirming\nthe action of the learned AO in not allowing deduction of Rs 16,37,818 towards rent\nequalisation adjustment representing rent paid

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

depreciation. The Tribunal relied heavily on its own previous decisions and those of higher courts.", "result": "Allowed", "sections": [ "250", "143(3)", "260", "144B", "6E", "10(38)", "111A

RAYMOND LTD,MUMBAI vs. ADDL CIT RG 2(3), MUMBAI

Accordingly, the same are dismissed as not pressed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleraymond Limited V. The Addl. Cit– 2(3) New Hind House Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent C.O. No. 287/Mum/2017 [Arising Out Of Ita No. 2218/Mum/2011 (A.Y. 2007-08)] The Addl. Cit– 2(3) V. Raymond Limited Aayakar Bhavan, M.K. Road New Hind House Mumbai - 400020 Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent M/S. Raymond Limited V. The Dcit – Osd- 2(3) New Hind House, Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai – 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent

depreciation and amortization and current liabilities and provisions as on the Balance Sheet date for the purpose of calculating 33 ITA No. 4322/MUM/2012 (A.Y. 2008-09) C.O. NO. 287& 288/MUM/2017 M/s. Raymond Limited the average value of total assets as per clause (ii) of Rule 8D for disallowance under section 14A of the Act. 41. Further, Ld. AR submitted that

RAYMOND LTD,MUMBAI vs. DCIT (OSD) RG 2(3), MUMBAI

Accordingly, the same are dismissed as not pressed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleraymond Limited V. The Addl. Cit– 2(3) New Hind House Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent C.O. No. 287/Mum/2017 [Arising Out Of Ita No. 2218/Mum/2011 (A.Y. 2007-08)] The Addl. Cit– 2(3) V. Raymond Limited Aayakar Bhavan, M.K. Road New Hind House Mumbai - 400020 Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent M/S. Raymond Limited V. The Dcit – Osd- 2(3) New Hind House, Aayakar Bhavan, M.K. Road Narottam Morarjee Marg Mumbai – 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A Appellant Respondent

depreciation and amortization and current liabilities and provisions as on the Balance Sheet date for the purpose of calculating 33 ITA No. 4322/MUM/2012 (A.Y. 2008-09) C.O. NO. 287& 288/MUM/2017 M/s. Raymond Limited the average value of total assets as per clause (ii) of Rule 8D for disallowance under section 14A of the Act. 41. Further, Ld. AR submitted that

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

111A of the Act and section 112 of the Act on short term gains and long term gains, respectively. 5. The learned CIT(A), on the facts and circumstances of the case and in law, erred in confirming the action of the learned AO in not allowing deduction of Rs 16,37,818 towards rent equalisation adjustment representing rent paid

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

111A of the Act and section 112 of the Act on short term gains and long term gains, respectively. 5. The learned CIT(A), on the facts and circumstances of the case and in law, erred in confirming the action of the learned AO in not allowing deduction of Rs 16,37,818 towards rent equalisation adjustment representing rent paid

L & T FINANCE LTD,MUMBAI vs. JCIT CIR 2(2), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Dr. A.L. Sainil&T Finance Ltd. Taxation Department L&T House, N.M. Marg ……………. Appellant Ballard Estate, Mumbai 400 001 Pan – Aaacl8668G V/S Jt. Commissioner Of Income Tax ……………. Respondent Circle–2(2), Mumbai L&T Finance Ltd. Taxation Department L&T House, N.M. Marg ……………. Appellant Ballard Estate, Mumbai 400 001 Pan – Aaacl8668G V/S Dy. Commissioner Of Income Tax ……………. Respondent Circle–2(2), Mumbai

section 111A at concessional rate on the transactions, where securities transaction tax has not been. It is also noted that the assessee has paid tax on short-term capital gains at normal rates on share transactions executed in the period prior to imposition of securities transactions tax. In our view, the legislative change of this nature, whereby no change

L & T FINANCE LTD,MUMBAI vs. DCIT CIR 2(2), MUMBAI

Appeal stands allowed for statistical purposes

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

111A at concessional rate on the transactions, where securities transaction tax has not been. It is also noted that the assessee has paid tax on short-term capital gains at normal rates on share transactions executed in the period prior to imposition of securities transactions tax. In our view, the legislative change of this nature, whereby no change has been

L & T FINANCE LTD,MUMBAI vs. DCIT CIR 2(2), MUMBAI

Appeal stands allowed for statistical purposes

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

111A at concessional rate on the transactions, where securities transaction tax has not been. It is also noted that the assessee has paid tax on short-term capital gains at normal rates on share transactions executed in the period prior to imposition of securities transactions tax. In our view, the legislative change of this nature, whereby no change has been

DCIT 2(2), MUMBAI vs. LARSEN & TOUBRO FINANCE LTD, MUMBAI

Appeal stands allowed for statistical purposes

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

111A at concessional rate on the transactions, where securities transaction tax has not been. It is also noted that the assessee has paid tax on short-term capital gains at normal rates on share transactions executed in the period prior to imposition of securities transactions tax. In our view, the legislative change of this nature, whereby no change has been

L & T FINANCE LTD,MUMBAI vs. DCIT CIR 2(2), MUMBAI

Appeal stands allowed for statistical purposes

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. Nos.3980, 3981 & 3982/Mum/2013 (िनधा"रण वष" / Assessment Years: 2005-06, 2006-07 & 2007-08) L & T Finance Limited Deputy Commissioner Of Income बनाम/ Taxation Department, L&T House, Tax-Circle 2(2) R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. Mumbai-400 001 M.K.Marg,Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.4459/Mum/2013 (िनधा"रण वष" / Assessment Year: 2006-07) Deputy Commissioner Of Income L & T Finance Limited बनाम/ Tax-Circle 2(2) Taxation Department, L&T House, R.No.545,5Th Floor, Aaykar Bhavan, N.M.Marg, Ballard Estate Vs. M.K.Marg,Mumbai-400 020 Mumbai-400 001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacl-8668-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

111A at concessional rate on the transactions, where securities transaction tax has not been. It is also noted that the assessee has paid tax on short-term capital gains at normal rates on share transactions executed in the period prior to imposition of securities transactions tax. In our view, the legislative change of this nature, whereby no change has been

HDFC BANK LIMITED (AS SUCCESSOR TO HOUSING DEVELOPMENT FINANCE CORPORATION LTD),MUMBAI vs. DCIT 1(1), MUMBAI

section, Assessing Officer has no power to bifurcate on \npro-rata basis and deduct a part of it from the gross dividend income. \nThere is no scope for any estimation of expenditure and hence no scope \n54 \nHDFC Bank Ltd. \nITA No.4315/MUM/2007 and Ors. \nAYs 2002-03 to 2020-21 \nfor allocation of notional expenditure. The deductions contemplated are \nthe

INDIUM IV (MAURITIUS) HOLDINGS LIMITED ,MUMBAI vs. DEPUTY COMM. OF INCOME TAX (INTERNATIONAL TAXATION) 2(2)(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleindium Iv (Mauritius) Holdings Limited V. Dcit (International Transaction)-2(2)(1) Office 201, 2Nd Floor, Sterling Tower Room No. 1722, 17Th Floor Air India Building, Nariman Point 14 Poudriere Street, Port Louis Mumbai – 400 021 Mauritius Pan: Aacci4907P (Appellant) (Respondent)

Depreciation rate. The Treaty does not specify and rate. The Treaty also mentions where any term is not defined the same can be as per the Domestic Tax Laws. This decision again is not on the issue before us and is not relevant. 5.11 In the case of British Airways Plc [2002] 80 ITD 90 (Delhi), the issue was taxability

USHA K. SINGHANIA,MUMBAI vs. ACIT 4(2), MUMBAI

In the result, the assessee’s appeal is allowed

Bench: Shri Jason P. Boaz, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 30/Mum/2015 ("नधा"रण वष" / Assessment Year: 2010-11)

depreciation on motor car amounting to Rs.8,03,523/-, disallowance u/s 94(7) of Rs.40,500/- as well as addition of 3 Usha K. Singhania vs. ACIT Rs.87,895/- on account of notional loss in respect of open positions in the F & O statement were made by the AO. 3. Aggrieved by the order of AO, assessee filed the appeal

HDFC BANK LIMITED (AS SUCCESSOR TO HOUSING DEVELOPMENT FINANCE CORPORATION LTD.),MUMBAI vs. DCIT, RANGE-1(1)(2), MUMBAI

section 50(1) and (2) is restricted only \nto the mode of computation of capital gains contained in Section 48 and \n49 and does not apply to other provisions, since fiction created by the \nlegislature has to be confined to the purpose to which it is created. Also, \nthat section 54E does not make any distinction between depreciable \nassets

DCIT 3(2), MUMBAI vs. KOTAK MAHINDRA BANK LTD, MUMBAI

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

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopaldy. Commissioner Of Vs. M/S Kotak Mahindra Income-Tax, 3(2) Bank Ltd. 36-38A, Room No. 608, 6Th Floor, Nariman Point, Ayakar Bhavan, Mumbai – 400021 Mumbai – 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaack4409J Respondent .. Appellant M/S Kotak Mahindra Vs. Dy. Commissioner Of Bank Ltd. 36-38A, Income-Tax-3(2) 227 Nariman Point, Aayakar Bhavan, Mumbai – 400021 Mumbai – 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaack4409J Appellant .. Respondent

111A was not allowed to the assessee. 7. The assessee filed the appeal before the ld. CIT(A) the ld. CIT(A) has allowed the appeal of the assessee. 8. Heard both the sides and after perusal of the material on record it is observed that assessee is in the business of banking and as per the investment policy

ADDL CIT RG 1(1), MUMBAI vs. HDFC LTD, MUMBAI

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

Section 36(1)(viii) speaks only of special reserve created under that section without making any distinction between reserve created before the amendment introduced by the Finance Act, 1997, in the said section effective from 01.04.1998 and reserve created post amendment. By referring to section 41(4A) according to which, withdrawal from the special reserve created and maintained