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 amounting to INR 17,54,78,992 claimed under Section 35(2AB) of the Act (Page 25

ASIA INVESTMENTS PVT.. LTD.,MUMBAI vs. DCIT ,CIRCLE 2 (1)(1), MUMBAI

In the result, all the three appeal

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

disallowance ance ance under under under section section section 14A 14A 14A read read read with with with Rule Rule Rule 8D 8D 8D at at at ₹17,25

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

section section (1) of the said section, so as to include a non-obstante clause in said section, so as to include a non obstante clause in respect of other provisions of the Income- -tax Act and respect of other provisions of the Income provide that no deduction shall be allowed in provide that no deduction shall be allowed

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

disallowance under section 14A r.w.r 8D to Rs. 67,84,065/- and deleted 25 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited

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

disallowance under section 14A r.w.r 8D to Rs. 67,84,065/- and deleted 25 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited

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

disallowance under section 14A r.w.r 8D to Rs. 67,84,065/- and deleted 25 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited

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

In the result, appeal of the assessee is partly allowed

disallowance under section 14A r.w.r 8D, they are identical to the one raised in appeal by the assessee for AY 2006-07. As regards the issue of mismatch in AIR Information, the ld. DR vehemently supported the findings of CIT(A). 25

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, they are identical to the one raised in appeal by the assessee for AY 2006-07. As regards the issue of mismatch in AIR Information, the ld. DR vehemently supported the findings of CIT(A). 25

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, they are identical to the one raised in appeal by the assessee for AY 2006-07. As regards the issue of mismatch in AIR Information, the ld. DR vehemently supported the findings of CIT(A). 25

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, they are identical to the one raised in appeal by the assessee for AY 2006-07. As regards the issue of mismatch in AIR Information, the ld. DR vehemently supported the findings of CIT(A). 25

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, they are identical to the one raised in appeal by the assessee for AY 2006-07. As regards the issue of mismatch in AIR Information, the ld. DR vehemently supported the findings of CIT(A). 25

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, they are identical to the one raised in appeal by the assessee for AY 2006-07. As regards the issue of mismatch in AIR Information, the ld. DR vehemently supported the findings of CIT(A). 25

PRAMOD RATAN PATIL,THANE vs. ASST CIT CIR 3, KALYAN

In the result, Appeal of Ld AO is dismissed, appeal of assessee is allowed partly

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Shri Pramod Ratan Patil Acit A–1, Chandresh Oasis, Lodha Circle–3, Kalyan, 2 Nd Floor, Heaven, Vs. Kalyan Shil Road, Dombivali (East), Rani Mansion, Murbad Road, Thane–421201 Kalyan West–421301 (Appellant) (Respondent) Pan No. Aadpp6274F Acit Shri Pramod Ratan Patil Circle–3, A–1, Chandresh Oasis, Lodha Kalyan, 2 Nd Floor, Heaven, Vs. Rani Mansion, Murbad Road, Kalyan Shil Road, Dombivali (East), Kalyan West–421301 Thane–421201 (Appellant) (Respondent) Assessee By : Mr. Satyaprakash Singh, Ar Revenue By : Mr. Nihar Ranjan Samal, Dr

section 40 A (3) and consequent disallowance thereafter. Needless to say the onus lies on the assessee to demonstrate that there is no disallowance called for u/s 40A 93) of the Act. 041. With respect to the disallowance made by the learned CIT – A by making an enhancement by disallowing 25

ASST CIT 3, MUMBAI vs. PRAMOD RATAN PATIL, MUMBAI

In the result, Appeal of Ld AO is dismissed, appeal of assessee is allowed partly

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Shri Pramod Ratan Patil Acit A–1, Chandresh Oasis, Lodha Circle–3, Kalyan, 2 Nd Floor, Heaven, Vs. Kalyan Shil Road, Dombivali (East), Rani Mansion, Murbad Road, Thane–421201 Kalyan West–421301 (Appellant) (Respondent) Pan No. Aadpp6274F Acit Shri Pramod Ratan Patil Circle–3, A–1, Chandresh Oasis, Lodha Kalyan, 2 Nd Floor, Heaven, Vs. Rani Mansion, Murbad Road, Kalyan Shil Road, Dombivali (East), Kalyan West–421301 Thane–421201 (Appellant) (Respondent) Assessee By : Mr. Satyaprakash Singh, Ar Revenue By : Mr. Nihar Ranjan Samal, Dr

section 40 A (3) and consequent disallowance thereafter. Needless to say the onus lies on the assessee to demonstrate that there is no disallowance called for u/s 40A 93) of the Act. 041. With respect to the disallowance made by the learned CIT – A by making an enhancement by disallowing 25

BAJAJ ELECTRICALS LTD,MUMBAI vs. ADDL CIT 2(1), MUMBAI

Accordingly we remit the impugned\nissue back to the AO with similar directions. The grounds raised by the assessee in\nthis regard are allowed for statistical purposes

25 & 30 of PB). The ld.\nAR further submitted that it is a settled position that when own funds are more than\nthe investments earning exempt income, then no disallowance towards interest\nunder Rule 8D(2)(ii) is required to be made. On the quantum of disallowance under\nRule 8D(2)(iii) the ld AR submitted that

SICOM LTD ,MUMBAI vs. DY COMMISSIONER OF INCOME TAX CIRCLE 3(3)(1), MUMBAI

In the result, the appeal filed by the assesee is partly allow for statistical purpose and the appeal filed by the revenue is allowed for statistical purposes

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale, Judicialmember Sicom Ltd, Vs. Dy Commissioner Of Solitaire Corporate Income Tax Circle Park, Bldg No.04, 3(3)(1), Chakala, Andheri(E), 6Th Floor, Room No. Mumbai-400093. 609,Aayakar Bhavan, Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent) Dy Commissioner Of Vs. Sicom Ltd, Income Tax Circle Solitaire Corporate Park, 3(3)(1), Bldg No.04, Chakala, 6Th Floor, Room No. Andheri(E), 609,Aayakar Bhavan, Mumbai-400093. Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent)

25 April 2022 (b) No disallowance under section 36(1)(iii) of the Act when loan given to subsidiary due to commercial

ACIT, MUMBAI vs. K RAHEJA CORP PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2020-21

disallowance of Rs. 1,45,32,176 under Section 14A r.w. Rule 8D, considering only Rs. 1,45,32,176 under Section 14A r.w. Rule 8D, considering only Rs. 1,45,32,176 under Section 14A r.w. Rule 8D, considering only investments from which exempt income was actually earned. The details of investments from which exempt income was actually earned

DCIT, CIR 16(2), MUMBAI vs. M/S KPMG ASSURANCE AND CONSULTING SERVICES LLP, MUMBAI

disallowed deduction claimed\nby the Assessee for remittance made by the Assessee to KPMG\nInternational Co-operative, Switzerland holding that the\ndeduction as claimed by the Assessee could not be allowed in\nview of Section 40(a)(i) of the Act since the Assessee has failed\nto deduct tax at source from the aforesaid remittances.\nAdditionally, 25