MACROTECH DEVEOPERS LIMITED (SUCESSOR TO SHREENIWAS COTTON MILLS LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX , CENTRAL RANGE-7(3), MUMBAI

In the result appeal of the learned assessing officer and assessee are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm M/S. Macrotech Developers Limited (Successor Of Shreeniwas Cotton Dcit, Cc-7(3) Mills Ltd) 412, 4Th Floor, 17G, Vardhaman Room No. 655, Aayakar Bhavan, Vs. M.K.Road, Mumbai-400 020 Chamber, Cawasji Patel Street, Fort Mumbai-400 001 (Appellant) (Respondent) M/S. Macrotech Developers Limited (Successor Of Shreeniwas Cotton Mills Ltd) Dcit, Cc-7(3) 412, 4Th Floor, 17G, Vardhaman Room No. 655, Aayakar Bhavan, Vs. Chamber, Cawasji Patel Street, M.K.Road, Mumbai-400 020 Fort Mumbai-400 001 (Appellant) (Respondent) Pan No. Aaacl1490J Assessee By : Shri Niraj Sheth Revenue By : Shri Asif Karmali

209,973,847/– debited to the profit and loss account should have been carried to the work in progress. The AO further was of the view that some of the projects are at initial stage for the year under consideration and therefore another 10% of the director's office expenses deserve to be located. Accordingly, further disallowance over and above

WNS GLOBAL SERVICES PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMM. OF INCOME TAX-14(1)(2), MUMBAI

Bench: Vikas Awasthy () & Ms. Padmavathy S. ()

section 14A to the tune of Rs.5,47,14,762/- and also made an addition on account of disallowance depreciation on intangible assets amounting to Rs.33,72,60,635/-. Aggrieved, the assessee filed its objections before the DRP. The Ld.DRP gave partial relief to the assessee whereby the transfer pricing adjustment of Depreciation on business rights was deleted

WNS GLOBAL SERVICES PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMM. OF INCOME TAX -14(1)(2), MUMBAI

Bench: Vikas Awasthy () & Ms. Padmavathy S. ()

section 14A to the tune of Rs.5,47,14,762/- and also made an addition on account of disallowance depreciation on intangible assets amounting to Rs.33,72,60,635/-. Aggrieved, the assessee filed its objections before the DRP. The Ld.DRP gave partial relief to the assessee whereby the transfer pricing adjustment of Depreciation on business rights was deleted

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

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, 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, 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 The Great Eastern Shipping Income-Tax, Co. 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)

Disallowance under section 14 A of ₹ 125,686,209/– the identical adjustment was also made in the computation of the book

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

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, 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, 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 The Great Eastern Shipping Income-Tax, Co. 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)

Disallowance under section 14 A of ₹ 125,686,209/– the identical adjustment was also made in the computation of the book

DCIT, MUMBAI vs. HUBTOWN LIMITED , MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

209 (SC) held that where appellant did not have exempt income, no disallowance could be made under section 14A read

HUBTOWN LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(4), MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

209 (SC) held that where appellant did not have exempt income, no disallowance could be made under section 14A read

ASST CIT 19(3), MUMBAI vs. PAHILAJRAI JAIKISHIN, MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

section 40(a)(i) of the Act and tax should have been deducted at source by the assessee firm u/s 195 of the Act or an application should have been made by the assessee firm for no deduction of tax at source u/s 195(2) of the Act . Thus the AO held that these payments to non-resident by assessee

PAHILAJRAI JAIKISHAN,MUMBAI vs. DCIT 19(3), MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

section 40(a)(i) of the Act and tax should have been deducted at source by the assessee firm u/s 195 of the Act or an application should have been made by the assessee firm for no deduction of tax at source u/s 195(2) of the Act . Thus the AO held that these payments to non-resident by assessee

DCIT 2(2), MUMBAI vs. TATA CHEMICALS LTD, MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

disallowed the above 2 items included in computation of deduction claimed under section 80IB of the Act. The learned CIT(A) vide impugned order dismissed the appeal filed by the assessee on this issue. Being aggrieved, the assessee is in appeal before us. 21. During the course of hearing, learned counsel submitted that the coordinate bench of the Tribunal

TATA CHEMICALS LTD,MUMBAI vs. DCIT 2(3), MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

disallowed the above 2 items included in computation of deduction claimed under section 80IB of the Act. The learned CIT(A) vide impugned order dismissed the appeal filed by the assessee on this issue. Being aggrieved, the assessee is in appeal before us. 21. During the course of hearing, learned counsel submitted that the coordinate bench of the Tribunal

TATA CHEMICALS LTD,MUMBAI vs. DCIT 2(2), MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

disallowed the above 2 items included in computation of deduction claimed under section 80IB of the Act. The learned CIT(A) vide impugned order dismissed the appeal filed by the assessee on this issue. Being aggrieved, the assessee is in appeal before us. 21. During the course of hearing, learned counsel submitted that the coordinate bench of the Tribunal

DCIT 2(2), MUMBAI vs. TATA CHEMICALS LTD, MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

disallowed the above 2 items included in computation of deduction claimed under section 80IB of the Act. The learned CIT(A) vide impugned order dismissed the appeal filed by the assessee on this issue. Being aggrieved, the assessee is in appeal before us. 21. During the course of hearing, learned counsel submitted that the coordinate bench of the Tribunal

ADDL CIT 7(2), MUMBAI vs. RELIANCE NATURAL RESOURCES LTD, NAVI MUMBAI

In the result, the appeal is allowed

Bench: Shri Jason P. Boaz & Shri Saktijit Deyreliance Natural Resources Ltd. Addl. Cit, Range 7(2) H Block, 1St Floor, Dhirubhai Room No. 620, 6Th Floor Vs. Ambani Knowledge City Aayakar Bhavan Navi Mumbai 400710 M.K. Road, Mumbai 400020 Pan - Aabcr7656P Appellant Respondent Addl. Cit, Range 7(2) Reliance Natural Resources Ltd. Room No. 620, 6Th Floor H Block, 1St Floor, Dhirubhai Vs. Aayakar Bhavan Ambani Knowledge City M.K. Road, Mumbai 400020 Navi Mumbai 400710 Pan - Aabcr7656P Appellant Respondent

209) was overruled by the supreme court where in fact the case was remanded to the High Court for fresh adjudication. 3. Without prejudice to ground Nos.1 and 2, the CIT(A) erred in law in deleting the disallowance mentioned above because in the alternative even if the expenditure was treated as revenue in nature TDS was not deducted

RELIANCE NATURAL RESOURCES LTD,NAVI MUMBAI vs. ADDL CIT RG 7(2), MUMBAI

In the result, the appeal is allowed

Bench: Shri Jason P. Boaz & Shri Saktijit Deyreliance Natural Resources Ltd. Addl. Cit, Range 7(2) H Block, 1St Floor, Dhirubhai Room No. 620, 6Th Floor Vs. Ambani Knowledge City Aayakar Bhavan Navi Mumbai 400710 M.K. Road, Mumbai 400020 Pan - Aabcr7656P Appellant Respondent Addl. Cit, Range 7(2) Reliance Natural Resources Ltd. Room No. 620, 6Th Floor H Block, 1St Floor, Dhirubhai Vs. Aayakar Bhavan Ambani Knowledge City M.K. Road, Mumbai 400020 Navi Mumbai 400710 Pan - Aabcr7656P Appellant Respondent

209) was overruled by the supreme court where in fact the case was remanded to the High Court for fresh adjudication. 3. Without prejudice to ground Nos.1 and 2, the CIT(A) erred in law in deleting the disallowance mentioned above because in the alternative even if the expenditure was treated as revenue in nature TDS was not deducted

SAIGAL SEATRADE,MUMBAI vs. ASST CIT 21 (3), MUMBAI

Appeal is partly allowed

209, 2nd Floor, Piramal Chamber, Parel, Mumbai - 400012 Appearances For the Appellant/Assessee : Shri Jitendra Jain For the Respondent/Department : Ms. Samruddhi Hande Date of conclusion of hearing : 30.09.2022 Date of pronouncement of order : 22.12.2022 O R D E R Per Rahul Chaudhary, Judicial Member: 1. By way of the present appeal the Appellant/Assessee has challenged the order, dated 23.09.2019, passed

YES BANK LIMITED,MUMBAI vs. DCIT - 2(2)(2), MUMBAI

In the result, both the appeals of the Revenue and assessee he appeals of the Revenue and assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2014-15 Dcit-2(2)(2), M/S Yes Bank Ltd., Room No. 545, 5Th Floor, 9Th Floor, Nehru Centre, Discovery Of Vs. Aayakar Bhavan, India, Dr. Ab Road, Worli, M.K. Road, Churchgate, Mumbai-400018. Mumbai-400020. Pan No. Aaacy 2068 D Appellant Respondent Assessment Year: 2014-15 M/S Yes Bank Ltd., Dcit-2(2)(2), 9Th Floor, Nehru Centre, Room No. 545, 5Th Floor, Aayakar Discovery Of India, Dr. Ab Vs. Bhavan, Road, Worli, M.K. Road, Churchgate, Mumbai-400018. Mumbai-400020. Pan No. Aaacy 2068 D Appellant Respondent

disallowance in the computation of total income computed by it. It is worth noting here that the total income computed by it. It is worth noting here that the total income computed by it. It is worth noting here that the figure figure of of Rs. Rs. 209,42,284/- 209,42,284/ has has been been worked worked

DCIT-2(2)(2), MUMBAI vs. YES BANK LTD., MUMBAI

In the result, both the appeals of the Revenue and assessee he appeals of the Revenue and assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2014-15 Dcit-2(2)(2), M/S Yes Bank Ltd., Room No. 545, 5Th Floor, 9Th Floor, Nehru Centre, Discovery Of Vs. Aayakar Bhavan, India, Dr. Ab Road, Worli, M.K. Road, Churchgate, Mumbai-400018. Mumbai-400020. Pan No. Aaacy 2068 D Appellant Respondent Assessment Year: 2014-15 M/S Yes Bank Ltd., Dcit-2(2)(2), 9Th Floor, Nehru Centre, Room No. 545, 5Th Floor, Aayakar Discovery Of India, Dr. Ab Vs. Bhavan, Road, Worli, M.K. Road, Churchgate, Mumbai-400018. Mumbai-400020. Pan No. Aaacy 2068 D Appellant Respondent

disallowance in the computation of total income computed by it. It is worth noting here that the total income computed by it. It is worth noting here that the total income computed by it. It is worth noting here that the figure figure of of Rs. Rs. 209,42,284/- 209,42,284/ has has been been worked worked