THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narfendrakumar Choudhary , Jm & & The Great Eastern Shipping Co. The Dy. Commissioner Of Ltd. Income-Tax, Kalyaniwalla & Mistry Llp Range-5(3), Esplanade House, 2 N D Floor, Vs. Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Fort, Mumbai-400 001 Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaact1565C The Dy. Commissioner Of Income- The Great Eastern Shipping Co. Tax, Ltd. Range-5(3), Kalyaniwalla & Mistry Llp Vs. Esplanade House, 2 N D Floor, Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Mumbai-400 020 Fort, Mumbai-400 001 (Appellant) (Respondent)

section 14 A are not attracted in case of the appellant. pg. 2 2. The learned DRP ought in holding that the aggregate interest expenditure incurred by the appellant pertaining to the tonnage and non-tonnage activities was to be considered for computing the amount liable for disallowance

DCIT CIR 5(3)(2), MUMBAI vs. THE GREAT EASTERN SHIPPING CO. LTD, MUMBAI

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Choudhary , Jm & & The Great Eastern Shipping Co. The Dy. Commissioner Of Ltd. Income-Tax, Kalyaniwalla & Mistry Llp Range-5(3), Esplanade House, 2 Nd Floor, Vs. Room No.525B, 5 Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Fort, Mumbai-400 001 Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaact1565C The Dy. Commissioner Of Income- The Great Eastern Shipping Co. Tax, Ltd. Range-5(3), Kalyaniwalla & Mistry Llp Vs. Esplanade House, 2 Nd Floor, Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Mumbai-400 020 Fort, Mumbai-400 001 (Appellant) (Respondent)

section 14 A are not attracted in case of the appellant. pg. 2 2. The learned DRP ought in holding that the aggregate interest expenditure incurred by the appellant pertaining to the tonnage and non-tonnage activities was to be considered for computing the amount liable for disallowance

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narfendrakumar Choudhary , Jm & & The Great Eastern Shipping Co. The Dy. Commissioner Of Ltd. Income-Tax, Kalyaniwalla & Mistry Llp Range-5(3), Esplanade House, 2 N D Floor, Vs. Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Fort, Mumbai-400 001 Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaact1565C The Dy. Commissioner Of Income- The Great Eastern Shipping Co. Tax, Ltd. Range-5(3), Kalyaniwalla & Mistry Llp Vs. Esplanade House, 2 N D Floor, Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Mumbai-400 020 Fort, Mumbai-400 001 (Appellant) (Respondent)

section 14 A are not attracted in case of the appellant. pg. 2 2. The learned DRP ought in holding that the aggregate interest expenditure incurred by the appellant pertaining to the tonnage and non-tonnage activities was to be considered for computing the amount liable for disallowance

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. DCIT CIR 5(3)(2), MUMBAI

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narfendrakumar Choudhary , Jm & & The Great Eastern Shipping Co. The Dy. Commissioner Of Ltd. Income-Tax, Kalyaniwalla & Mistry Llp Range-5(3), Esplanade House, 2 N D Floor, Vs. Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Fort, Mumbai-400 001 Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaact1565C The Dy. Commissioner Of Income- The Great Eastern Shipping Co. Tax, Ltd. Range-5(3), Kalyaniwalla & Mistry Llp Vs. Esplanade House, 2 N D Floor, Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Mumbai-400 020 Fort, Mumbai-400 001 (Appellant) (Respondent)

section 14 A are not attracted in case of the appellant. pg. 2 2. The learned DRP ought in holding that the aggregate interest expenditure incurred by the appellant pertaining to the tonnage and non-tonnage activities was to be considered for computing the amount liable for disallowance

DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-1(1), MUMBAI, MUMBAI vs. ALL INDIA GEM AND JEWELLERY DOMESTIC COUNCIL, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2015-16

14 under section 11(5), does not convert the institution into a under section 11(5), does not convert the institution into a under section 11(5), does not convert the institution into a commercial or mutual entity. commercial or mutual entity. 4.1 In opinion of the AO of the AO if the assessee was not not entitled for charitable

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] &

disallowance under section 14 A with rule 8D (2) (ii) is called for, thereby granting the relief to the assessee

JEEVANDEEP EDUMEDIA PRIVATE LIMITED,MUMBAI vs. PRINCIPLE CIT-6, MUMBAI

In the result, the a In the result, the appeal of the assessee is stands allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2020-21 Jeevandeep Edumedia Pvt. Ltd., Pr. Cit-6, 1St Floor, Sun Paradise Business 501,5Th Floor, Aayakar Bhavan, Plaza, Senapati Bapat Marg, Vs. Maharishi Karve Road, Lower Parel (West), Mumbai-400020. Mumbai-400013. Pan No. Aabcj 0180 G Appellant Respondent

2,00,000 Trust Total Donation 24,98,000 24,98,000 Qualifying Amount 24,98,000 24,98,000 Deductible amount under section 80 G @ 50% Deductible amount under section 80 G @ 50% 12,49,000 12,49,000 Jeevandeep Edumedia Pvt. Ltd. Jeevandeep Edumedia Pvt. Ltd. proceedings. Contemporaneously, the above donations of Rs.24,98,000/ Contemporaneously, the above

INCOME TAX OFFICER , MUMBAI vs. IDBI STAFF CO-OPERATIVE CREDIT SOCIETY LTD , MUMBAI

In the result, all the appeals in ITA Nos

disallowing the claim made by the assessee U/s.\n80P(2)(a)(i) of the Act. We have perused the ratio laid down by the\nHon'ble Apex Court in the case of M/s. Totgars Cooperative Sale Society\nLtd (supra) and found that in that case the society is engaged in\nmarketing of the agricultural produce by its members

ELARA CAPITAL (INDIA) PRIVATE LIMITED,MUMBAI vs. ACIT- CIRCLE 6(2)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Elara Capital (India) Pvt. Ltd., The Acit-Circle 6(2)(2), Tower 3, 21St Floor, One Room No. 506, 5Th Floor, Vs. International Center, Senapati Aayakar Bhavan, Maharshi Bapat Marg, Elphinstone Karve Road, Mumbai- Road (West), Mumbai-400013. 400020. Pan No. Aabce 6487 B Appellant Respondent

2. The Assessing Officer The Assessing Officer (AO) and later the CIT and later the CIT (A) made the disallowance by taking into account only the made the disallowance by taking into account only the made the disallowance by taking into account only the investment patterns of the assessee for the concerned investment patterns of the assessee for the concerned

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

section 14A - Ground No. 1 to 14 38. During the year under consideration the assessee did not earn any exempt income. However the assessee while filing the return of income has made a suo- motu disallowance of Rs. 2

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

section 14A - Ground No. 1 to 14 38. During the year under consideration the assessee did not earn any exempt income. However the assessee while filing the return of income has made a suo- motu disallowance of Rs. 2

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

section 14A - Ground No. 1 to 14 38. During the year under consideration the assessee did not earn any exempt income. However the assessee while filing the return of income has made a suo- motu disallowance of Rs. 2

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

In the result, appeals of the assessee are allowed and appeals of the Revenue are dismissed

Section 14A of the Act was computed at Rs. 1,14,95,165/-. 5. However, the ld. AO did not accept the assessee's computation of disallowance and proceeded to recomputed the disallowance u/s.14A r.w.r.8D. First of all, he accepted the amount liable for disallowance under clause 2

DY. COMMISSIONER OF INCOME-TAX, MUMBAI vs. QUANTUM ADVISORS PVT. LTD., MUMBAI

In the result, the appeal of the Revenue is allowed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2015-16 Dcit-1(3)(1), M/S Quantum Advisors Pvt. Ltd., Room No. 535, 5Th Floor, 503, Regent Chambers, Nariman Vs. Aayakar Bhavan, Point, Mumbai-400021. M.K. Road, Mumbai-400020. Pan No. Aaacq 0281 C Appellant Respondent

14,65,880 and the said assessment orders have been placed on record. placed on record. (vi) (vi) Under t (vi) Under the CBDT Circular No. 6-P, dated 6th July, 1968 it is P, dated 6th July, 1968 it is stated that no disallowance is to be made under section 40A(2

RELIANCE POWER LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, 15(3)(1), MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

14 A and also computed the disallowance under rule 8D (2) (ii) of the act computed such disallowance at Rs. 1,682,398,967/–while computing taxable income of the assessee as per normal computation provisions. The AO also imputed the disallowance while working out taxable income to the provisions of section

DCIT-15(3)(1), MUMBAI, MUMBAI vs. RELIANCE POWER LTD, NAVI MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

14 A and also computed the disallowance under rule 8D (2) (ii) of the act computed such disallowance at Rs. 1,682,398,967/–while computing taxable income of the assessee as per normal computation provisions. The AO also imputed the disallowance while working out taxable income to the provisions of section

DCIT-15(3)(1), MUMBAI , MUMBAI vs. RELIANCE POWER LTD, MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

14 A and also computed the disallowance under rule 8D (2) (ii) of the act computed such disallowance at Rs. 1,682,398,967/–while computing taxable income of the assessee as per normal computation provisions. The AO also imputed the disallowance while working out taxable income to the provisions of section

RELIANCE POWER LIMITED,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 15(3)(1), MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

14 A and also computed the disallowance under rule 8D (2) (ii) of the act computed such disallowance at Rs. 1,682,398,967/–while computing taxable income of the assessee as per normal computation provisions. The AO also imputed the disallowance while working out taxable income to the provisions of section