APL LOGISTICS (INDIA) P. LTD,MUMBAI vs. ACIT 10(1), MUMBAI

In the result, appeal of the assessee is partly allowed

Disallowance under section 14A r.w.r 8D. & 2917 M 15- APL Logistics (India) Pvt. Ltd. The ld. Counsel submitted that the issue raised in the present appeal are identical to the issues adjudicated by the Tribunal in assessee’s appeal for AY 2006-07 & 2007-08. The ld. Counsel pointed that the submissions made while addressing the issue

DCIT 10(1), MUMBAI vs. APL LOGISTICS (INDIA) P. LTD, MUMBAI

In the result, appeal of the assessee is partly allowed

Disallowance under section 14A r.w.r 8D. & 2917 M 15- APL Logistics (India) Pvt. Ltd. The ld. Counsel submitted that the issue raised in the present appeal are identical to the issues adjudicated by the Tribunal in assessee’s appeal for AY 2006-07 & 2007-08. The ld. Counsel pointed that the submissions made while addressing the issue

DCIT 10(1), MUMBAI vs. APL LOGISTICS (INDIA ) P.LTD, MUMBAI

In the result, appeal of the assessee is partly allowed

Disallowance under section 14A r.w.r 8D. & 2917 M 15- APL Logistics (India) Pvt. Ltd. The ld. Counsel submitted that the issue raised in the present appeal are identical to the issues adjudicated by the Tribunal in assessee’s appeal for AY 2006-07 & 2007-08. The ld. Counsel pointed that the submissions made while addressing the issue

APL LOGISTICS (INDIA) P. LTD,MUMBAI vs. ASST CIT 10(1), MUMBAI

In the result, appeal of the assessee is partly allowed

Disallowance under section 14A r.w.r 8D. & 2917 M 15- APL Logistics (India) Pvt. Ltd. The ld. Counsel submitted that the issue raised in the present appeal are identical to the issues adjudicated by the Tribunal in assessee’s appeal for AY 2006-07 & 2007-08. The ld. Counsel pointed that the submissions made while addressing the issue

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

disallowance of weighted deduction claimed under Section 35(2AB) of the Act, and in doing so have grossly erred: 7.1 In failing to appreciate: 7.1.1 that Section 35(2AB)(1) prescribes the requirement of approval of the facility and not the expenditure. Further, amended Rule 6 ITA NO. 1004/MUM/2021 AY 16-17 Strides Pharma Science Ltd. of the Rules vide

M/S. TATA INDUSTRIES LTD,MUMBAI vs. THE ITO 2(3)(3), MUMBAI

In the result, appeal of the assessee is treated as partly allowed

Bench: Shri G. S. Pannu, Accoutant Member & Shri Sanjay Gargtata Industries Ltd., Vs. The Income Tax Officer, Ward- Bombay House,24,Homi 2 (3) (3), Room No.555, Mody Street, Fort, Mumbai Aayakar Bhavan, Maharshi 400 001 Karve Road, Mumbai 400 020 Pan: Aaact 4058 L Appellant .. Respondent Appellant By Shri Dinesh Vyas, Ar Respondent By Shri Alok Johri, Dr Date Of Hearing 22-06-2016 Date Of Pronouncement 20-07-2016

disallowances of net interest of Rs.67.9 crores (75.21 -7.28) as proportion of loan fund to total fund. 5. The AO, however, noted that assessee had three departments with respective function i. e. head office (HO) for investment and promoting new companies, Tata Strategic Manufacturing Group (TSMG) for consultancy services and Tata Interactive Services (TIS) for E-learning of computer software

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

221,78,42,097/-. The AO complete the assessment by making the following disallowance: (i) Disallowance under section 14A r.w.r. 8D - Rs. 84,68,874/- 34 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited (ii) Disallowance of Prior period expenditure - Rs. 29,31,276/- (iii) Disallowance on account of commission payment - Rs. 1

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

221,78,42,097/-. The AO complete the assessment by making the following disallowance: (i) Disallowance under section 14A r.w.r. 8D - Rs. 84,68,874/- 34 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited (ii) Disallowance of Prior period expenditure - Rs. 29,31,276/- (iii) Disallowance on account of commission payment - Rs. 1

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

221,78,42,097/-. The AO complete the assessment by making the following disallowance: (i) Disallowance under section 14A r.w.r. 8D - Rs. 84,68,874/- 34 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited (ii) Disallowance of Prior period expenditure - Rs. 29,31,276/- (iii) Disallowance on account of commission payment - Rs. 1

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

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

disallowance of depreciation/ reducing of depreciation on appreciation in the value of securities held as available for sale and held for trading category are allowable. We direct the AO accordingly.” 25. The learned DR could not show us any reason to deviate from the aforesaid decision rendered in assessee’s own case and no change in facts

ASST CIT CIR 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

disallowance of depreciation/ reducing of depreciation on appreciation in the value of securities held as available for sale and held for trading category are allowable. We direct the AO accordingly.” 25. The learned DR could not show us any reason to deviate from the aforesaid decision rendered in assessee’s own case and no change in facts

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

1 326 ITR 1/192 Share & Stock Brokers Taxman 211 (SC), the mandate of Section 14A of the Taxman 211 , the mandate of Section 14A of the Act is to curb the practice of claiming deduction of Act is to curb the practice of claiming deduction of Act is to curb the practice of claiming deduction of expenses incurred in relation

NERKA CHEMICALS P. LTD,GUJRAT vs. ASST CIT CEN CIR 38, MUMBAI

In the result this ground of appeal is allowed for statistical purpose

Bench: Shri R.C. Sharma, Accountant Mamber & Shri Pawan Singh

221/-. The return of income was selected for scrutiny and assessment order under section 143(3) was passed by assessing officer on 30. 03. 2013. The assessing officer while passing assessment order made the disallowance under section 14A Rs.18,26,890/- in addition to the voluntary disallowance offered by the assessee of Rs. 34,215/- and treated the receipt

D.C.I.T. CENT. CIR. - 7(2), MUMBAI vs. RAJAHMUNDHRY EXPRESSWAY LTD., MUMBAI

In the result, appeals are dismissed

Bench: Shri Saktijit Dey & Shri G. Manjunatha

221 (SC); and ii) CIT v/s Paul Bros., [2995] 216 ITR 548 (Bom.). 9. The learned Departmental Representative submitted, in course of search and seizure operation conducted in case of the assessee as well as GIL incriminating material relating to assessee‟s claim of deduction under section 80IA of the Act was found. He submitted, the incriminating material found during

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

Disallowance Based on Presumptions and Without Cross Verification with ITR, Form 26AS, OR Portal That the AO did Verification with ITR, Form 26AS, OR Portal That the AO did Verification with ITR, Form 26AS, OR Portal That the AO did not cross not cross-check Form 26AS, ITs of directors, OR income directors, OR income-tax portal records before raising

TOTAL OIL INDIA P.LTD,MUMBAI vs. ADDL CIT RG 8(3), MUMBAI

Bench: Shri G. S. Pannu, Vp & Shri Amarjit Singh, Jm

221 of the I.T. Act. In addition, he would also be liable under Section 201(1A) to pay simple interest at 12 per cent per annum on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid. 8. The most important expression in Section 195(1

ACIT 11(3)(1), MUMBAI vs. TOTAL OIL INDIA P.LTD, MUMBAI

Bench: Shri G. S. Pannu, Vp & Shri Amarjit Singh, Jm

221 of the I.T. Act. In addition, he would also be liable under Section 201(1A) to pay simple interest at 12 per cent per annum on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid. 8. The most important expression in Section 195(1

AMIT CAPITAL & SECURITIES P.LTD,MUMBAI vs. ITO 2(1)(1), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year 2006-07 Amit Capital & Securities Income Tax Officer Private Limited, Range-2(1)(1), बनाम/ 47A, 3Rd Floor, Plot No.308, Aayakar Bhavan, Vs. Hanuman Building, Perin M. K. Road, Nariman Street, Fort, Mumbai-400020 Mumbai-400001 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaaca4219Q "नधा"रती क" ओर से / Assessee By Shri Govind Jhaveri Shri Satishchandra Rajore-Dr राज"व क" ओर से / Revenue By 04/10/2018 सुनवाई क" तार"ख / Date Of Hearing : घोषणा क" तार"ख/Date Of Pronouncement 09/10/2018

section 274 r.w.s 271(1)(c), the relevant limb in the notice has not be struck down by the Assessing Officer. On the other hand, Shri Satishchandra Rajore, Ld. DR, defended the imposition of penalty. 2.1. We have considered the rival submissions and perused the material available on record. Before adverting 3 ITA. No.3443/Mum/2017 Amit Capital & Securities Pvt. Ltd. further