BAJAJ INTERNATIONAL REALTY PRIVATE LIMITED ,MUMBAI vs. DCIT, 1(2)1, MUMBAI

In the result both the appeals of the parties are partly allowed for In the result both the appeals of the parties are partly allowed for the statistical purposes

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Section 14A of the Income-tax Act, 1961, quantified at tax Act, 1961, quantified at ₹1,19,32,795/-. 8.1 Briefly stated, the Assessing Officer noted that the assessee was Briefly stated, the Assessing Officer noted that the assessee was Briefly stated, the Assessing Officer noted that the assessee was holding investments in quoted and unquoted shares amounting to lding

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

23. Ground No.13 relating to credit not granted for Dividend Distribution Tax paid has not been pressed, therefore, the same is dismissed as not pressed. 24. In ground No.15-17 and additional ground Nos. 1 & 2 relating to TP adjustment on performance guarantee given on behalf of the AE, the facts in brief which has been stated are that the assessee

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. ADD/JOINT/DEPUTY/ACIT, NATIONAL E-ASSESSMENT CENTRE, DELHI

disallowance to the suo-moto disallowance offered by the assessee and the\nsaid relief has not been considered by the CIT (A). 4. The Id. AR with regard to the plea that\ndisallowance should be restricted to the suo-moto disallowance, submitted that the\nassessee has investments which are in the nature of stock in trade and also are strategic

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

disallowed by the AO should be allowed as a deduction. Through additional ground the assessee is making an additional claim of Rs. 3,36,85,160/- towards ESOP expenditure being the difference between the value of shares using Fair Value method of Rs.4,95,88,603 and the intrinsic value of Rs.1,59,03,443 debited in the books

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

disallowed by the AO should be allowed as a deduction. Through additional ground the assessee is making an additional claim of Rs. 3,36,85,160/- towards ESOP expenditure being the difference between the value of shares using Fair Value method of Rs.4,95,88,603 and the intrinsic value of Rs.1,59,03,443 debited in the books

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

disallowed by the AO should be allowed as a deduction. Through additional ground the assessee is making an additional claim of Rs. 3,36,85,160/- towards ESOP expenditure being the difference between the value of shares using Fair Value method of Rs.4,95,88,603 and the intrinsic value of Rs.1,59,03,443 debited in the books

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

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S.RIFAUR RAHMAN (Accountant Member)

disallowance of interest expenditure of Rs.42,75,635/-suo moto made by the assessee company in the Return of Income as being capital in nature, but has brought to tax the receipt of a capital nature in the hands of the assessee. 14 The Great Eastern Shipping Co. Ltd. 19. However, ld. AO in his final assessment order held that

ACIT-CIRCLE-5(3)(2), MUMBAI vs. M/S GREAT EASTERN SHIPPING CO. LTD., MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S.RIFAUR RAHMAN (Accountant Member)

disallowance of interest expenditure of Rs.42,75,635/-suo moto made by the assessee company in the Return of Income as being capital in nature, but has brought to tax the receipt of a capital nature in the hands of the assessee. 14 The Great Eastern Shipping Co. Ltd. 19. However, ld. AO in his final assessment order held that

DCIT-2(3)(1), MUMBAI vs. KOTAK MAHINDRA BANK LIMITED, MUMBAI

In the result the appeal filed by the assessee in ITA No

23 ITR 832 (Guj.) have upheld the legal\nproposition that where mistake in assessment is caused by either an erroneous\nconstruction of transaction or due to its non- consideration, or caused by a mistake of law\napplicable even where there has been a complete disclosure of all relevant facts upon\nwhich a correct assessment could have been based, would

GOLD COIN APARTMENTS CO OPERATIVE HOUSING SOCIETY LTD ,MUMBAI vs. ITO WARD 22(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

disallowance on the contending the Assessee was entitled to claim deduction of INR.3,15,256/- under Section 80P(2)(d) of the Act. 4. We have heard both the sides on the issue and have perused the material on record. 5. The appeal preferred by the Assessee is delayed by 101 days. In the application seeking condonation of delay

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

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

x 1% p.a.\n31. Before us ld. Counsel submitted that this issue is covered by\nthe decision of the Tribunal in assessee's own case for the\npreceding assessment years, however, he submitted that the\nTribunal had taken a different view for A.Y.2008-09 as compared\nto A.Y.2009-10 and 2010-11. In A.Y.2008-09, the Tribunal vide\nits order dated 11/08/2022 agreed

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)

23,672,543 and disallowance under section 14 A of ₹ 115,296,911 made by the learned assessing officer pursuant to the order of the learned transfer pricing officer and subject to the direction of the learned dispute resolution panel dated 12/11/2014. 03. Assessee is aggrieved with the same and has preferred this appeal before us raising following grounds

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)

23,672,543 and disallowance under section 14 A of ₹ 115,296,911 made by the learned assessing officer pursuant to the order of the learned transfer pricing officer and subject to the direction of the learned dispute resolution panel dated 12/11/2014. 03. Assessee is aggrieved with the same and has preferred this appeal before us raising following grounds

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)

23,672,543 and disallowance under section 14 A of ₹ 115,296,911 made by the learned assessing officer pursuant to the order of the learned transfer pricing officer and subject to the direction of the learned dispute resolution panel dated 12/11/2014. 03. Assessee is aggrieved with the same and has preferred this appeal before us raising following grounds

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)

23,672,543 and disallowance under section 14 A of ₹ 115,296,911 made by the learned assessing officer pursuant to the order of the learned transfer pricing officer and subject to the direction of the learned dispute resolution panel dated 12/11/2014. 03. Assessee is aggrieved with the same and has preferred this appeal before us raising following grounds

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

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

x 1% p.a.\n31. Before us ld. Counsel submitted that this issue is covered by\nthe decision of the Tribunal in assessee's own case for the\n19\nITA No. 1129/Mum/2016\nThe Great Eastern Shipping Co. Ltd.\npreceding assessment years, however, he submitted that the\nTribunal had taken a different view for A.Y.2008-09 as compared\nto A.Y.2009-10

HDFC BANK LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX-2(3)(1), MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

x C Where A amount of expenditure by way of = interest other than the amount of interest included in clause (i) incurred during the previous year: B the average of value of investment, = income from which does not or shall not form part of the total income, as appearing in the balance 3451,64,41,000 sheet of the assessee

DCIT 2(3)(1), MUMBAI vs. HDFC BANK LIMITED , MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

x C Where A amount of expenditure by way of = interest other than the amount of interest included in clause (i) incurred during the previous year: B the average of value of investment, = income from which does not or shall not form part of the total income, as appearing in the balance 3451,64,41,000 sheet of the assessee