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 36(1)(iii) of the Act; and - Ground No. (vi) of appeal is with regard to interest charged under section 234A

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

In the result, appeal of the assessee is partly allowed

disallowance under section 36(1)(iii) of the Act; and - Ground No. (vi) of appeal is with regard to interest charged under section 234A

APL LOGISTICS P.LTD,MUMBAI vs. DCIT 14(1)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

disallowance under section 36(1)(iii) of the Act; and - Ground No. (vi) of appeal is with regard to interest charged under section 234A

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

In the result, appeal of the assessee is partly allowed

disallowance under section 36(1)(iii) of the Act; and - Ground No. (vi) of appeal is with regard to interest charged under section 234A

LAQSHYA MEDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-10(2)(1), MUMBAI

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

Bench: Shri Pawan Singh & Shri M. Balaganesh(Virtual Hearing In Vc No. –Ii) M/S. Laqshya Media Ltd. D C I T - 10(2)(1) Laqshya House Room No. 509/216A Next To Rameshwar Temple, Vs. Aayakar Bhavan, M.K. Road Saraswti Baug, Society Road, Mumbai 400020 Jogeshwari (E), Mumbai 400060 Pan – Aaacl5004C Appellant Respondent Appellant By: Shri Rajan Vora-Ar Respondent By: Shri Anand Mohancit-Dr Date Of Hearing: 08.07.2020 Date Of Pronouncement: 17.07.2020 O R D E R Per Pawan Singhthis Appeal Filed By The Assessee Is Directed Against The Assessment Order Passed By The Assessing Officer Under Section 143(3) R.W.S. 144C(1) Of The Income Tax Act, 1961 (Hereinafter "The Act") Dated 29Th October, 2018, Passed In Pursuance Of The Directions Of Dispute Resolution Penal (Drp) Dated 28Th August, 2018 For A.Y. 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “On The Facts & In The Circumstances Of The Case & In Law, The Learned Ao/ Learned Deputy Commissioner Of Income-Tax, Transfer Pricing - 3(1)(1)(Hereinafter Referred To As Tpo')/ Hon'Ble Drp Has: General Ground 1. Erred In Assessing The Total Income At 5,67,38,117As Against Returned Loss Of Rs.8,55,13,089 Computed By The Appellant; Part B -Transfer Pricing Ground: 2. Adjustment Of Rs.20.58.028/- Pertaining To Providing Of Corporate Guarantee (Cg) To Associated Enterprise (Ae)

234A of the Act of Rs.2,85,932, without appreciating the fact that the Appellant had filed the return of income, within the time limit prescribed under section 139(1) of the Act. 10. Levy on interest under section 234B 10.1 erred in levying interest under section 234B of the Act of Rs.78,63,130. 11. Penalty under section

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

Disallowance of deduction under section 35(2AB) 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the Ld. Commissioner of Income Commissioner

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

Disallowance of deduction under section 35(2AB) 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the Ld. Commissioner of Income Commissioner

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

Disallowance of deduction under section 35(2AB) 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the Ld. Commissioner of Income Commissioner

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

Disallowance of deduction under section 35(2AB) 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the Ld. Commissioner of Income Commissioner

DEEPAK NOVOCHEM TECHNOLOGIES LTD,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(1), MUMBAI

In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are In the result, the appeals filed by the assessee are allowed partly for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita Nos. 2558 To 2562/Mum/2023 Assessment Years: 2014-15 To 2018-19 Deepak Novochem The Acit, Cc-8(1), Technologies Ltd., Aayakar Bhavan, Room No. Vs. 515, 5Th Floor, Citi Point, Boat 656, 6Th Floor, M.K. Road, Club Road, Pune City, Mumbai-400020. Pune-411 001. Pan No. Aaccd 5796 K Appellant Respondent Assessee By : Mr. H.P. Mahajani Revenue By : Mrs. Sanyogita Nagpal, Cit-Dr : Date Of Hearing 16/11/2023 Date Of Pronouncement : 28/11/2023

Disallowance of deduction under section 35(2AB) 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the 1. On the facts and in the circumstances of the case and in law, both the Ld. Commissioner of Income Commissioner

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Acit-2(2)(2), Room No. 545, 5Th Floor, Aayakar Bhavan, Mumbai-400020. Appellant Yes Bank Ltd., 15Th Floor, Yes Bank Tower, Ifc 2, Senapati Bapat Marg, Elphistone (West), Mumbai-400013. Pan No. Aaacy 2068 D Appellant Assessee By Revenue By Date Of Hearing Date Of Pronouncement

section 40(a) (i)/ (ia) of the Act. 2. The appellant prays that the AO be directed to allow the expenses in connection with QIP. GROUND NO. IX: SETTING ASIDE TO THE AO THE ISSUE OF ALLOWANCE OF BROKERAGE PAID ON HTM SECURITIES: 1. On the facts and circumstances of the case

GROWMORE EXPORTS LTD,MUMBAI vs. DCIT CC 31, MUMBAI

In the result, the assessee ‘s appeal for the assessment year 2008-09

Bench: Shri Jason P. Boaz & Shri Ram Lal Negi

section 115JB of the Act. This issue was set aside to the file of the Ld. CIT(A) for fresh adjudication. Following the aforesaid order of the Co-ordinate Bench of this Tribunal in the case of Hitesh S Mehta (supra), we are of the considered opinion that the issue of disallowance of interest expenditure is to be set aside

KUNTAL HASMUKHLAL SHAH ,MUMBAI vs. ASST. COMMISSIONER OF INCOME TAX 4(1)(1), MUMBAI

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

Bench: Shri Amit Shukla & Shri Makarand Vasant Mahadeokarkuntal Hasmukhlal Shah Acit-4(1)(1) 104, 1St Floor, Plot No. 53, Aayakar Bhawan, Panchsheel, P. M. Shukla Vs. Churchgate, Marg, C-Road, Mumbai-400 020 Churchgate, Mumbai-400 020 Pan/Gir No. Aagps5867F (Applicant) (Respondent) Assessee By Shri Ashok Shah, Ld. Ar Revenue By Shri Aditya Rai, Ld. Dr Date Of Hearing 08.01.2026 Date Of Pronouncement 12.01.2026

disallowance to Rs. 13,76,621/-, being the total expenses debited by the assessee during the year. The said amount of Rs. 13,76,621/- was added to the total income of the assessee, and the assessment was completed under section 143(3) of the Act at a total income of Rs. 35,46,700/-, after allowing deduction under Chapter

GOLDMAN SACHS (INDIA) FINANCE PRIVATE LIMITED,MUMBAI vs. ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, NEW DELHI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

disallowance under section 36 read with section 37 of the Act\nwhich lacks basis and is contrary to law.\n6. Ground No. 6: Short-grant of TDS credit in the assessment order\namounting to INR 12,14,349\nThe learned AO, erred in law and facts, in granting TDS credit of INR\n12,14,349, which was rightly claimed

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

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

section 40(a) (i)/ (ia) of the Act. 2. The appellant prays that the AO be directed to allow the expenses in connection with QIP. GROUND NO. IX: SETTING ASIDE TO THE AO THE ISSUE OF ALLOWANCE OF BROKERAGE PAID ON HTM SECURITIES: 1. On the facts and circumstances of the case

MONDELEZ INDIA FOODS P.LTD,MUMBAI vs. ASST CIT RG 5(1)(2), MUMBAI

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

234A of the Ground No.39 Ground No.39 Act Levy of interest under section 234C of the Ground No.40 Ground No.40 Act 2. The assessee also raised an additional ground in both AY 2011-12 and AY 2012-13 contending the validity of final assessment order passed under section 143(3) r.w.s.144C relying on the decision of the Hon'ble Madras

MONDELEZ INDIA FOODS P. LTD,MUMBAI vs. DCIT RG 5(1)(2), MUMBAI

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

234A of the Ground No.39 Ground No.39 Act Levy of interest under section 234C of the Ground No.40 Ground No.40 Act 2. The assessee also raised an additional ground in both AY 2011-12 and AY 2012-13 contending the validity of final assessment order passed under section 143(3) r.w.s.144C relying on the decision of the Hon'ble Madras

DCIT 2 2 1, MUMBAI vs. YES BANK LIMITED, MUMBAI

In the result, the appeal of the assessee bearing ITA No

Bench: Shrinarendra Kumar Billaiya & Shri Anikesh Banerjeeyes Bank Limited Vs Additional Commissioner Of Income Yes Bank House, 8Th Floor, Tax (Appeals), Panchkula Prabhat Colony, Off Western Express Highway, Santacruz East, Mumbai-400 055 Pan : Aaacy2068D Appellant Respondent Additional Commissioner Of Vs Yes Bank Limited Yes Bank House, 8Th Floor Income Tax (Appeals), Panchkula Prabhat Colony, Off Western Express Highway, Santacruz East, Mumbai-400 055 Pan : Aaacy2068D Appellant Respondent

234A of the Act and Rs.17,37,64,891/- under Section 234C of the Act for deferred payment of advance tax. Aggrieved by the order, the assessee preferred an appeal before the Ld. CIT(A). After considering the assessee’s submissions, the Ld. CIT(A) deleted the addition of Rs.30crore made under Section 43B but upheld the disallowance