BAJAJ ELECTRICALS LTD,MUMBAI vs. ADDL CIT 2(1), MUMBAI

Accordingly we remit the impugned issue back to the AO with similar directions. The grounds raised by the assessee in this regard are allowed for statistical purposes

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

disallowance under section 14A r.w.r. 8D cannot be applied in assessee's case. The relevant provisions of section 14A of the Act and Rule 8D of the Income Tax Rules read as under – 14A - Expenditure incurred in relation to income not includible in total income (1) For the purposes of computing the total income under this Chapter, no deduction shall

BAJAJ ELECTRICALS LTD,MUMBAI vs. ADDL CIT 2(1), MUMBAI

Accordingly we remit the impugned issue back to the AO with similar directions. The grounds raised by the assessee in this regard are allowed for statistical purposes

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

disallowance under section 14A r.w.r. 8D cannot be applied in assessee's case. The relevant provisions of section 14A of the Act and Rule 8D of the Income Tax Rules read as under – 14A - Expenditure incurred in relation to income not includible in total income (1) For the purposes of computing the total income under this Chapter, no deduction shall

DCIT 2(1)(1), MUMBAI vs. BAJAJ ELECTRICALS LTD, MUMBAI

Accordingly we remit the impugned issue back to the AO with similar directions. The grounds raised by the assessee in this regard are allowed for statistical purposes

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

disallowance under section 14A r.w.r. 8D cannot be applied in assessee's case. The relevant provisions of section 14A of the Act and Rule 8D of the Income Tax Rules read as under – 14A - Expenditure incurred in relation to income not includible in total income (1) For the purposes of computing the total income under this Chapter, no deduction shall

ASIA INVESTMENTS PVT.. LTD.,MUMBAI vs. DCIT ,CIRCLE 2 (1)(1), MUMBAI

In the result, all the three appeal

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

154 (SC), it was submitted that disallowance under section 14A of the , it was submitted that disallowance under section 14A of the , it was submitted

RELIANCE INDUSTRIES LIMITED,MUMBAI vs. DCIT (LTU)-2, MUMBAI

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

Bench: Hon’Ble Justice P.P.Bhatt & Shri Shamim Yahya

section 154(7) 1 143(3) 26-12-2011 Regular assessment order u/s 143(3) 31-03-2016 2 143(3) 11-05-2012 Reopening of assessment disallowing

BAJAJ ELECTRICALS LTD,MUMBAI vs. ADDL CIT 2(1), MUMBAI

Accordingly we remit the impugned\nissue back to the AO with similar directions. The grounds raised by the assessee in\nthis regard are allowed for statistical purposes

disallowance under section 14A r.w.r. 8D\ncannot be applied in assessee's case. The relevant provisions of section 14A of the\nAct and Rule 8D of the Income Tax Rules read as under\n14A - Expenditure incurred in relation to income not includible in total income\n(1) For the purposes of computing the total income under this Chapter, no deduction

DEPUTY COMMISSIONER OF INCOME TAX CC-7(3), MUMBAI vs. M/S MACROTECH DEVELOPERS LIMITED (FORMERLY KNOWN AS LODHA DEVELOPERS PVT LTD) (SUCCESSOER OF M/S BELLISSIMO CROWN BUILDMART PVT LTD ), MUMBAI

Accordingly should be allowed as a deduction

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

154 (SC) to hold that all investments including purchase of shares for gaining control over the investing company to be considered for making disallowance under section

DEPUTY COMMISSIONER OF INCOME TAX, CC-7(3), MUMBAI vs. M/S MACROTECH DEVELOPERS LIMITED , MUMBAI

Accordingly should be allowed as a deduction

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

154 (SC) to hold that all investments including purchase of shares for gaining control over the investing company to be considered for making disallowance under section

SICOM LTD ,MUMBAI vs. DY COMMISSIONER OF INCOME TAX CIRCLE 3(3)(1), MUMBAI

In the result, the appeal filed by the assesee is partly allow for statistical purpose and the appeal filed by the revenue is allowed for statistical purposes

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale, Judicialmember Sicom Ltd, Vs. Dy Commissioner Of Solitaire Corporate Income Tax Circle Park, Bldg No.04, 3(3)(1), Chakala, Andheri(E), 6Th Floor, Room No. Mumbai-400093. 609,Aayakar Bhavan, Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent) Dy Commissioner Of Vs. Sicom Ltd, Income Tax Circle Solitaire Corporate Park, 3(3)(1), Bldg No.04, Chakala, 6Th Floor, Room No. Andheri(E), 609,Aayakar Bhavan, Mumbai-400093. Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent)

154 (SC), it is held that dominant purpose for which investment into shares is made by assessee may not be relevant as section 14A applies irrespective of whether shares are held to gain control or as stock-in-trade. 4.3 We have heard the rival submissions and perused the relevant materials on record. In the instant case, as recorded

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

In the result appeal filed by the assessee for assessment

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm

154, for any assessment year beginning on or before the 1st day of April, 2001." 12. The sub-section (2) and (3) were introduced to the main section by the Finance Act, 2006 with effect from 1-4-2007. 13. The question therefore to be answered is whether section 14A, enables the Department to make disallowance

DCIT 2(2), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee for assessment year 2006 – 07 and 2007 – 08 is partly allowed

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm A.Y.2006-07 [ By Assessee] &

154, for any assessment year beginning on or before the 1st day of April, 2001." 12. The sub-section (2) and (3) were introduced to the main section by the Finance Act, 2006 with effect from 1-4-2007. 13. The question therefore to be answered is whether section 14A, enables the Department to make disallowance

DCIT 2(1)(1), MUMBAI vs. BAJAJ ELECTRICALS LTD, MUMBAI

Accordingly we remit the impugned\nissue back to the AO with similar directions. The grounds raised by the assessee in\nthis regard are allowed for statistical purposes

disallowance under section 14A r.w.r. 8D\ncannot be applied in assessee's case. The relevant provisions of section 14A of the\nAct and Rule 8D of the Income Tax Rules read as under\n14A - Expenditure incurred in relation to income not includible in total income\n(1) For the purposes of computing the total income under this Chapter, no deduction

DCIT 7(3), MUMBAI vs. ZODIAC CLOTHING CO. LTD, MUMBAI

In the result, both the appeals of the Revenue stand dismissed

Bench: Shri Saktijit Dey & Shri Ashwani Taneja

section 154 of the Act, for deletion of the disallowance made under section 40(a)(i) of the Act for the amount

MACROTECH DEVELOPERS LTD.(SUCCESSOR TO BELLISSIMO CROWN BUILDMART PVT LTD.,,MUMBAI vs. DCIT CENTRAL CIRCLE 7(3), MUMBAI

The appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

disallowance under section 14 A the act. 034. Ground number 3 is with respect to the foreign exchange gain incurred on purchase of material ITA Nos. 2266 & 2239/Mum/2022 Macrotech Developers Ltd; A.Ys. 17-18 & 18-19 claimed by the assessee as revenue expenditure and the learned assessing officer is of the view that it should be included in the cost

MACROTECH DEVELOPRS LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 7(3), MUMBAI

The appeal is allowed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

disallowance under section 14 A the act. 034. Ground number 3 is with respect to the foreign exchange gain incurred on purchase of material ITA Nos. 2266 & 2239/Mum/2022 Macrotech Developers Ltd; A.Ys. 17-18 & 18-19 claimed by the assessee as revenue expenditure and the learned assessing officer is of the view that it should be included in the cost

HINDUSTAN PETROLEUM CORP LTD,MUMBAI vs. DCIT 1(1)(2), MUMBAI

Bench: us. 2.

154 read with Section 250 of the Act rectifying order, dated 19/03/2019, passed by the CIT(A). 2.2. The Assessee has raised the following grounds of appeal in ITA No. 3195/Mum/2019: “1. Disallowance

DISH TV INDIA LTD vs. ASST CIT RG 11(1), MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Rajesh Kumardish Tv India Ltd. Fc–19, Firm City, Sector–16A ……………. Appellant Noida 400 063 Pan – Aaaca5478M V/S Asstt. Commissioner Of Income Tax ……………. Respondent Range–11(1), Mumbai Asstt. Commissioner Of Income Tax ……………. Appellant Range–16(1), Mumbai V/S Dish Tv India Ltd. 135, Continental Building Dr. A.B. Road, Worli ……………. Respondent Mumbai 400 018 Pan – Aaaca5478M

disallowance under section 14A of the Act can be made. In support of such contention, the learned Authorised Representative relied upon the decision of the Tribunal, Mumbai Bench, in assessee’s own case for the assessment year 2008– 09 and 2009–10 in ITA no.2066 and 2067/Mum./2015, dated 20th December 2016. To impress upon the fact that during

TATA PETRODYNE LTD,MUMBAI vs. ASST CIT 2(3), MUMBAI

In the result, assessee’s appeal is allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri Ramit Kochar

section 154 of the Income Tax Act, 1961 (for short “the Act”) for the assessment year 2008–09. ITA no.4887/Mum./2012 Assessee’s Appeal – A.Y. 2008–09 2. In the grounds of appeal filed along with the memorandum of appeal, the only issue raised by the assessee relates to disallowance