DCIT (OSD)(TDS)-2(3), MUMBAI vs. TOTAL ENERGIES MARKETING INDIA PVT LTD, MUMBAI

Appeals are partly allowed

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

3 years on the basis of guidance note 18 on accounting for employee share-based payments issued by the Institute of chartered accountants ITA Nos. 127 to 133/Mum/2023 Total Energies Marketing India Pvt. Ltd.; A.Ys. 2013-14 to 19-20 of India. The employee becomes eligible for vesting exercise at the end of two years. Therefore performance shares granted

DCIT (OSD)(TDS)-2(3), MUMBAI vs. TOTAL ENERGIES MARKETING INDIA PVT LTD, MUMBAI

Appeals are partly allowed

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

3 years on the basis of guidance note 18 on accounting for employee share-based payments issued by the Institute of chartered accountants ITA Nos. 127 to 133/Mum/2023 Total Energies Marketing India Pvt. Ltd.; A.Ys. 2013-14 to 19-20 of India. The employee becomes eligible for vesting exercise at the end of two years. Therefore performance shares granted

DCIT (OSD)(TDS)-2(3) , MUMBAI vs. TOTAL ENERGIES MARKETING INDIA PVT LTD, MUMBAI

Appeals are partly allowed

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

3 years on the basis of guidance note 18 on accounting for employee share-based payments issued by the Institute of chartered accountants ITA Nos. 127 to 133/Mum/2023 Total Energies Marketing India Pvt. Ltd.; A.Ys. 2013-14 to 19-20 of India. The employee becomes eligible for vesting exercise at the end of two years. Therefore performance shares granted

DCIT (OSD)(TDS)-2(3), MUMBAI vs. TOTAL ENERGIES MARKETINGS INDIA PVT LTD, MUMBAI

Appeals are partly allowed

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

3 years on the basis of guidance note 18 on accounting for employee share-based payments issued by the Institute of chartered accountants ITA Nos. 127 to 133/Mum/2023 Total Energies Marketing India Pvt. Ltd.; A.Ys. 2013-14 to 19-20 of India. The employee becomes eligible for vesting exercise at the end of two years. Therefore performance shares granted

DCIT (OSD)(TDS)-2(3), MUMBAI vs. TOTAL ENERGIES MARKETING INDIA PVT LTD, MUMBAI

Appeals are partly allowed

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

3 years on the basis of guidance note 18 on accounting for employee share-based payments issued by the Institute of chartered accountants ITA Nos. 127 to 133/Mum/2023 Total Energies Marketing India Pvt. Ltd.; A.Ys. 2013-14 to 19-20 of India. The employee becomes eligible for vesting exercise at the end of two years. Therefore performance shares granted

DCIT (OSD)(TDS)-2(3), MUMBAI vs. TOTAL ENERGIES MARKETING INDIA PVT LTD, MUMBAI

Appeals are partly allowed

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

3 years on the basis of guidance note 18 on accounting for employee share-based payments issued by the Institute of chartered accountants ITA Nos. 127 to 133/Mum/2023 Total Energies Marketing India Pvt. Ltd.; A.Ys. 2013-14 to 19-20 of India. The employee becomes eligible for vesting exercise at the end of two years. Therefore performance shares granted

DCIT (OSD)(TDS)-2(3) , MUMBAI vs. TOTAL ENERGIES MARKETING INDIA PVT LTD, MUMBAI

Appeals are partly allowed

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

3 years on the basis of guidance note 18 on accounting for employee share-based payments issued by the Institute of chartered accountants ITA Nos. 127 to 133/Mum/2023 Total Energies Marketing India Pvt. Ltd.; A.Ys. 2013-14 to 19-20 of India. The employee becomes eligible for vesting exercise at the end of two years. Therefore performance shares granted

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

Disallowance under section 40A(3) of Rs 2,37,52,201\n8.1. The CIT(A) erred in sustaining the disallowance

SHRI RENUKAMATA MULTI-STATE CO-OPERATIVE URBAN SOCIETY LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(4), MUMBAI

Disallowance under section 40A(3) of Rs 2,37,52,201\n8.1. The CIT(A) erred in sustaining the disallowance

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

In the result, the appeal by the assessee is partly allowed, while the\nappeal by the Revenue is dismissed

Disallowance under section 40A(3) of Rs 2,37,52,201\n8.1. The CIT(A) erred in sustaining the disallowance

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

Disallowance under section 40A(3) of Rs 2,37,52,201\n\n8.1. The CIT(A) erred in sustaining the disallowance

ACIT (TDS) -2(1), MUMBAI vs. OMKAR REALTORS AND DEVELOPERS PVT. LTD., MUMBAI

In the result, appeals filed by the revenue are dismissed and the Cross

Bench: Shri Rajesh Kumar (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2010-2011 The Asst. Commissioner Of Income Omkar Realtors & Developers Tax (Tds) – 2(1), Pvt. Ltd., Room No. 615, 6Th Floor, Omkar House, Off Eastern Smt. K.G. Mittal Ayurvedic Hospital Vs. Express Highway, Bldg., Charni Road (W), Opp. Sion Chunabhatti Signal, Mumbai - 400002 Sion, Mumbai - 400022 Pan: Aaaco7919F (Appellant) (Respondent) Co No. 237/Mum/2019 (Arising Out Of Ita No. 6814/Mum/2018) Assessment Year: 2010-2011 Omkar Realtors & Developers Pvt. The Asst. Commissioner Of Ltd., Income Tax (Tds) – 2(1), Omkar House, Off Eastern Express 6Th Floor, Smt. K.G. Mittal Highway, Vs. Ayurvedic Hospital Bldg., Charni Opp. Sion Chunabhatti Signal, Sion Road (West), East, Mumbai - 400022 Mumbai - 400002 Pan: Aaaco7919F (Appellant) (Respondent) Assessment Year: 2011-2012 The Asst. Commissioner Of Income Omkar Realtors & Developers Tax (Tds) – 2(1), Pvt. Ltd., Room No. 615, 6Th Floor, Omkar House, Off Eastern Smt. K.G. Mittal Ayurvedic Hospital Vs. Express Highway, Bldg., Charni Road (W), Opp. Sion Chunabhatti Signal, Mumbai - 400002 Sion, Mumbai - 400022 Pan: Aaaco7919F (Appellant) (Respondent)

3,95,00,000/- as on 31.03.2010. b) In this similar manner, the ledger account of M/s Tarun Enterprises reflected an opening balance of Rs. 4,90,29,647/-. Against the same, the appellant had received back Rs. 1,41,24,536/- as repayment of the said loan given. The outstanding interest on the said loan was added

SAFE AND SURE MARINE SERVICES PRIVATE LIMITED,MUMBAI vs. ITO (TDS), WARD 8(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee is partly allowed for partly allowed for 7

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2013-14

Section 201(I) should be deleted. 2 Supported by Law: SC in Hindustan should be deleted. 2 Supported by Law: SC in Hindustan should be deleted. 2 Supported by Law: SC in Hindustan Coca Cola Beverage Pvt. Lid. v. CIT (2007) 293 ITR 226 (SC) Coca Cola Beverage Pvt. Lid. v. CIT (2007) 293 ITR 226 (SC) Coca Cola Beverage

STRIDES PHARMA SCIENCE LTD.,NAVI MUMBAI vs. THE DY CIT -5(1)(2), MUMBAI

In the result ITA number 1004/M/2021 filed by the assessee for assessment year 2016 – 17 is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Strides Pharma Science Ltd. Dcit 15(1)(2) 201, Devavrata, Sector-17, Aayakar Bhavan, M K Road, Vs. Vashi, Navi Mumbai, 400703 Mumbai 400020 (Appellant) (Respondent) Pan No. Aadcs8104P

201, Devavrata, Sector-17, Aayakar Bhavan, M K Road, Vs. Vashi, Navi Mumbai, 400703 Mumbai 400020 (Appellant) (Respondent) PAN No. AADCS8104P : Shri Nishant Gandh, AR Assessee by Revenue by : Ms Samruddhi Hande SR DR, Aditya M Rai Sr AR, Suresh Gaikwad SR AR Date of hearing: 17-02-023,23/06/2023 and 07/07/2023 Date of pronouncement

M/S.LAKESIDE PROPERTIES PVT. LTD,MUMBAI vs. DCIT ,CENTRAL CIRCLE -1(4), MUMBAI

In the result, the appeal filed by the assessee is dismissed

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2017-18 M/S Lakeside Properties Private Dcit, Central Circle-1(4), Limited, Room No. 902, 9Th Floor, Old 312/3 Sharda Chamber No. 131, Vs. Cgo Building, M.K. Road, Keshavji Naik Road, Bhat Bazar, Mumbai-400020. Masjid (West), Mumbai-400 009. Pan No. Aabcl 4041 Q Appellant Respondent Assessee By : Mr. Siddharth Kothari, Ar Revenue By : Ms. Shailja Rai, Cit-Dr Date Of Hearing : 25/08/2022 Date Of Pronouncement : 27/09/2022

disallowed the said expenditure expenditure holding same was towards infringement of infringement of provision of law and has not provision of law and has not been incurred for the purpose of business. been incurred for the purpose of business. Whereas, Whereas, according to the assessee, the payment is not in the nature of illeg the assessee, the payment

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Section 115JB of the I.T.Act, 1961 are not \napplicable in the case of the assessee. \n9. Whether on the facts and circumstances of the case and in \nlaw, the Ld. CIT(A) was right in deleting the disallowance \nof Rs.776,13,61,000/- on account of reserve for \nunexpired risk without appreciating the fact the said \nreserved was created

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)

disallowance made under section 14 A of the act and under the normal computation of income is also required to be added back for computing book profits under section 115JB of the act. The appellant submits that section 115JB of the act is a separate code by itself and the provisions of section 14 A and rule 8D cannot

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)

disallowance made under section 14 A of the act and under the normal computation of income is also required to be added back for computing book profits under section 115JB of the act. The appellant submits that section 115JB of the act is a separate code by itself and the provisions of section 14 A and rule 8D cannot

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)

disallowance made under section 14 A of the act and under the normal computation of income is also required to be added back for computing book profits under section 115JB of the act. The appellant submits that section 115JB of the act is a separate code by itself and the provisions of section 14 A and rule 8D cannot