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

250. 44. In view In view of the above catena of judgements, it is of the above catena of judgements, it is abundantly clear that in absence of any exempt income, no abundantly clear that in absence of any exempt income, no abundantly clear that in absence of any exempt income, no disallowance u/s 14A of the Act is permissible

BAJAJ INTERNATIONAL REALTY PRIVATE LIMITED ,MUMBAI vs. DCIT-1(2), MUMBAI

In the result both the appeals of the parties are partly allowed for In the result both the appeals of the parties are partly allowed for the statistical purposes

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

disallowance of Rs. 1,19,32,795/- under under Section 14A read with Rule 8D Rule 8D, both under normal provisions and in the computation of book profits under normal provisions and in the computation of book profits under normal provisions and in the computation of book profits under Section 115JB. 5. In Ground Nos.1 .1-4 of the appeal

BAJAJ INTERNATIONAL REALTY PRIVATE LIMITED ,MUMBAI vs. DCIT, 1(2)1, MUMBAI

In the result both the appeals of the parties are partly allowed for In the result both the appeals of the parties are partly allowed for the statistical purposes

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

disallowance of Rs. 1,19,32,795/- under under Section 14A read with Rule 8D Rule 8D, both under normal provisions and in the computation of book profits under normal provisions and in the computation of book profits under normal provisions and in the computation of book profits under Section 115JB. 5. In Ground Nos.1 .1-4 of the appeal

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

250 of the Income Tax Act, 1961 (the Act) dated 14.03.2013 3 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited for AY 2009-10, dated 07.09.2015 for AY 2011-12, dated 04.09.2015 for AY 2010- 11. AY 2009-10 2. The assessee is a company engaged in the business of manufacturing of Fans, Telecommunication, Transmission Line Towers, Hot Dip Galvanizing and trading

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

250 of the Income Tax Act, 1961 (the Act) dated 14.03.2013 3 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited for AY 2009-10, dated 07.09.2015 for AY 2011-12, dated 04.09.2015 for AY 2010- 11. AY 2009-10 2. The assessee is a company engaged in the business of manufacturing of Fans, Telecommunication, Transmission Line Towers, Hot Dip Galvanizing and trading

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

250 of the Income Tax Act, 1961 (the Act) dated 14.03.2013 3 ITA 4172/M/13-5749-5750/M/15-110- 111/M/16 Bajaj Electricals Limited for AY 2009-10, dated 07.09.2015 for AY 2011-12, dated 04.09.2015 for AY 2010- 11. AY 2009-10 2. The assessee is a company engaged in the business of manufacturing of Fans, Telecommunication, Transmission Line Towers, Hot Dip Galvanizing and trading

RAMESH BUILDERS,MUMBAI vs. ITO 12(1)(1), MUMBAI

In the result, the appeal filed by the assessee-Ramesh Builders(India) in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1797/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08) Ramesh Builders (India), Income Tax बनाम/ 9, Dhiraj Chambers, Officer,12(1)(2),Aayakar V. 9, Hazarimal Somani Marg, Bhavan,M.K. Road, Fort,Mumbai – 400001. Mumbai. "थायी लेखा सं./Pan : Aaafr4655E .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

250 ITR 871 2 (SC), the issue was whether on dissolution or death of one partner and reconstitution with the remaining partners without discontinuance of business how the valuation on the closing stock should be done. This judgment again in our opinion, also does not assist us in consideration of the issue which is before us. In Sunil Siddharthbhai/Kartikeya

RAMESH BUILDERS (INDIA),MUMBAI vs. ITO 12(1)(2), MUMBAI

In the result, the appeal filed by the assessee-Ramesh Builders(India) in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1797/Mum/2012 ("नधा"रण वष" / Assessment Year : 2007-08) Ramesh Builders (India), Income Tax बनाम/ 9, Dhiraj Chambers, Officer,12(1)(2),Aayakar V. 9, Hazarimal Somani Marg, Bhavan,M.K. Road, Fort,Mumbai – 400001. Mumbai. "थायी लेखा सं./Pan : Aaafr4655E .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

250 ITR 871 2 (SC), the issue was whether on dissolution or death of one partner and reconstitution with the remaining partners without discontinuance of business how the valuation on the closing stock should be done. This judgment again in our opinion, also does not assist us in consideration of the issue which is before us. In Sunil Siddharthbhai/Kartikeya

JT. COMM OF INCOME TAX (OSD) , CC - 7(2), MUMBAI vs. M/S. RAJAMUNDRY EXPRESSWAY PVT. LTD, MUMBAI

In the result, the appeal of the revenue is dismissed

Bench: Us :-

disallowance of deduction claimed under section 80IA of the Act, though, on a completely different reasoning. 7. Shri Farookh V. Irani, learned Sr. Counsel for the assessee submitted, the NHAI had entered into a concession agreement with the assessee for developing, operating and maintaining the 4–lane carriage way from kms. 200 to kms. 250

DCIT CC 3(4) CEN RG 3, MUMBAI vs. JIVESH DEVELOPERS & PROPERTIES P. LTD, MUMBAI

In the result, Revenue‟s appeals are dismissed

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

disallowed assessee‟s claim of deduction under section 80IB(10) simply relying upon the unapproved plan. The learned Authorised Representative submitted, assessee has started claiming deduction under section 80IB(10) from assessment year 2004–05. Assessee‟s claim of deduction was examined in detail by the Assessing Officer in assessment year 2004–05 and the Assessing Officer after conducting enquiry

RELIANCE INDUSTRIES LIMITED,MUMBAI vs. ACIT , MUMBAI

In the result, the ITA No

disallowed Rs 8.66 crores for weighted deduction under section 35(2AB) in respect of research and development expenditure by observing as follows: ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment Years: 2014-15 & 2015-16 Page 33 of 105 21.1 On perusal of the computation of income statement, it is seen that during the year under consideration the assesse company

RELIANCE INDUSTRIES LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX LARGE TAXPAYER UNIT-2, MUMBAI

In the result, the ITA No

disallowed Rs 8.66 crores for weighted deduction under section 35(2AB) in respect of research and development expenditure by observing as follows: ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment Years: 2014-15 & 2015-16 Page 33 of 105 21.1 On perusal of the computation of income statement, it is seen that during the year under consideration the assesse company

DCIT (LTU)-2, MUMBAI vs. M/S RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the ITA No

disallowed Rs 8.66 crores for weighted deduction under section 35(2AB) in respect of research and development expenditure by observing as follows: ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019 Assessment Years: 2014-15 & 2015-16 Page 33 of 105 21.1 On perusal of the computation of income statement, it is seen that during the year under consideration the assesse company

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

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

4. The Appellant, therefore, prays that the suo-moto disallowance of Rs. 9,27,255/- be deleted. GROUND NO. III: ORDER MADE ON THE BASIS OF SURMISES AND ASSUMPTIONS IS BAD IN LAW: 1. On the facts and circumstances of the case and in law, the Hon'ble CIT(A) erred in disallowing the claim for deduction

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

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

4. The Appellant, therefore, prays that the suo-moto disallowance of Rs. 9,27,255/- be deleted. GROUND NO. III: ORDER MADE ON THE BASIS OF SURMISES AND ASSUMPTIONS IS BAD IN LAW: 1. On the facts and circumstances of the case and in law, the Hon'ble CIT(A) erred in disallowing the claim for deduction

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

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

4. The Appellant, therefore, prays that the suo-moto disallowance of Rs. 9,27,255/- be deleted. GROUND NO. III: ORDER MADE ON THE BASIS OF SURMISES AND ASSUMPTIONS IS BAD IN LAW: 1. On the facts and circumstances of the case and in law, the Hon'ble CIT(A) erred in disallowing the claim for deduction

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

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

4. The Appellant, therefore, prays that the suo-moto disallowance of Rs. 9,27,255/- be deleted. GROUND NO. III: ORDER MADE ON THE BASIS OF SURMISES AND ASSUMPTIONS IS BAD IN LAW: 1. On the facts and circumstances of the case and in law, the Hon'ble CIT(A) erred in disallowing the claim for deduction

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

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

4. The Appellant, therefore, prays that the suo-moto disallowance of Rs. 9,27,255/- be deleted. GROUND NO. III: ORDER MADE ON THE BASIS OF SURMISES AND ASSUMPTIONS IS BAD IN LAW: 1. On the facts and circumstances of the case and in law, the Hon'ble CIT(A) erred in disallowing the claim for deduction