THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED INDIA BRANCHES ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

depreciation against\nHFT/AFS.\nAccounting for repos/reverse repos (including liquidity adjustment facility)\nRepurchase (repos) and reverse repurchase (reverse repos) transactions are accounted for as collateralized borrowing and\nlending respectively with an agreement to repurchase on agreed terms in accordance with RBI guidelines vide master circular\nDBOD No. BP.BC.13/21.04.141/2012-13 dated 2 July 2012. The difference between the consideration amounts of first

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

depreciation against\nHFT/AFS.\nAccounting for repos/reverse repos (including liquidity adjustment facility)\nRepurchase (repos) and reverse repurchase (reverse repos) transactions are accounted for as collateralized borrowing and\nlending respectively with an agreement to repurchase on agreed terms in accordance with RBI guidelines vide master circular\nDBOD No. BP.BC.13/21.04.141/2012-13 dated 2 July 2012. The difference between the consideration amounts of first

DCIT(IT)-2(2)(2), AIR INDIA BUILDING vs. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD, BANDRA

In the result, appeals by the revenue are accordingly dismissed\nand those by the assessee are allowed

depreciation against\nHFT/AFS.\nAccounting for repos/reverse repos (including liquidity adjustment facility)\nRepurchase (repos) and reverse repurchase (reverse repos) transactions are accounted for as collateralized borrowing and\nlending respectively with an agreement to repurchase on agreed terms in accordance with RBI guidelines vide master circular\nDBOD No. BP.BC.13/21.04.141/2012-13 dated 2 July 2012. The difference between the consideration amounts of first

DCIT(IT) - 2(2)(2), AIR INDIA BUILDING vs. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD, BANDRA

depreciation against\nHFT/AFS.\nAccounting for repos/reverse repos (including liquidity adjustment facility)\nRepurchase (repos) and reverse repurchase (reverse repos) transactions are accounted for as collateralized borrowing and\nlending respectively with an agreement to repurchase on agreed terms in accordance with RBI guidelines vide master circular\nDBOD No. BP.BC.13/21.04.141/2012-13 dated 2 July 2012. The difference between the consideration amounts of first

DCIT RG 8(2) (OSD), MUMBAI vs. HSBC PROFESSIONAL SERVICES (I) P. LTD, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2006-07 Jcit-8(2), (Osd), M/S Hsbc Professional Services Room No. 216-A, Aayakar (India) Pvt. Ltd., Bhavan, M.K. Road, Vs. Kamla Bhavan, Swami Nityanand Mumbai-400020. Marg, Andheri (East), Mumbai-400069. Pan No. Aabch 0705 R Appellant Respondent Assessment Year: 2006-07 Hsbc Professional Services The Deputy Commissioner Of (India) Private Limited, Income-Tax Range 8(2), 6Th Floor, Shiv Building, Cts Vs. Mumbai. No. 139 & 140B, Sahar Road, Vile Parle (East), Mumbai-400057. Pan No. Aabch 0705 R Appellant Respondent Assessee By : Mr. Niraj Sheth, Ar Revenue By : Mr. V.K. Agarwal, Dr Date Of Hearing : 01/07/2022 Date Of Pronouncement : 13/09/2022

140B, Sahar Road, Vile Parle (East), Mumbai-400057. PAN No. AABCH 0705 R Appellant Respondent Assessee by : Mr. Niraj Sheth, AR Revenue by : Mr. V.K. Agarwal, DR Date of Hearing : 01/07/2022 Date of pronouncement : 13/09/2022 M/s HSBC Professional Services Pvt. Ltd. Professional Services Pvt. Ltd. ITA Nos. 8753 & 8823/M/2011 ORDER PER OM PRAKASH KANT, AM KANT, AM These cross appeals

HSBC PROFESSIONAL SERVICES (I) P. LTD,MUMBAI vs. DCIT RG 8(2), MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2006-07 Jcit-8(2), (Osd), M/S Hsbc Professional Services Room No. 216-A, Aayakar (India) Pvt. Ltd., Bhavan, M.K. Road, Vs. Kamla Bhavan, Swami Nityanand Mumbai-400020. Marg, Andheri (East), Mumbai-400069. Pan No. Aabch 0705 R Appellant Respondent Assessment Year: 2006-07 Hsbc Professional Services The Deputy Commissioner Of (India) Private Limited, Income-Tax Range 8(2), 6Th Floor, Shiv Building, Cts Vs. Mumbai. No. 139 & 140B, Sahar Road, Vile Parle (East), Mumbai-400057. Pan No. Aabch 0705 R Appellant Respondent Assessee By : Mr. Niraj Sheth, Ar Revenue By : Mr. V.K. Agarwal, Dr Date Of Hearing : 01/07/2022 Date Of Pronouncement : 13/09/2022

140B, Sahar Road, Vile Parle (East), Mumbai-400057. PAN No. AABCH 0705 R Appellant Respondent Assessee by : Mr. Niraj Sheth, AR Revenue by : Mr. V.K. Agarwal, DR Date of Hearing : 01/07/2022 Date of pronouncement : 13/09/2022 M/s HSBC Professional Services Pvt. Ltd. Professional Services Pvt. Ltd. ITA Nos. 8753 & 8823/M/2011 ORDER PER OM PRAKASH KANT, AM KANT, AM These cross appeals