HINDUSTAN PETROLEUM CORP LTD,MUMBAI vs. DCIT 1(1)(2), MUMBAI

Bench: us. 2.

253 to 257/Mum/2021), the aforesaid order, dated 15/02/2021, was recalled as the Assessee had failed to make payment of tax amount. In the above background the appeals came up for hearing before us. Assessment Year 2014-15 2. We would first take up three appeals pertaining to the Assessment Year 2014-15. 2.1. ITA No. 3195/Mum/2019 preferred by the Assessee

TATA CHEMICALS LTD.,MUMBAI vs. DY CIT 2 (3)(1), MUMBAI

253/- u/s 14A of\nthe Act.\n3. Disallowance of Deduction u/s 80(IA) in respect of captive power\nplant:- Rs. 40,04,53,625/-\nThe learned Assessing Officer erred in disallowing the deduction u/s\n80(IA) of Rs. 40,04,53,625/-\nin respect of the captive power plant\nby relying on the orders

THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL,MUMBAI vs. ASST CIT (E) RG 2(1), MUMBAI

In the result, all the appeals of the assessee are allowed for 10

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13 & Assessment Year: 2013-14 The Gem & Jewellery Export Acit (Exemptions) Range- Promotion Council, 2(1), Vs. Tower-A, Aw-1010, G Block, 5Th Floor, Room No. 519, Bharat Diamond Bourse, Piramal Chambers, Lalbaug, B.K.C., Bandra East, Mumbai-400012. Mumbai-400051. Pan No. Aaatt 3202 H Appellant Respondent Assessment Year: 2014-15 The Gem & Jewellery Export Dcit (Exemptions) Range- Promotion Council, 2(1), Tower-A, Aw-1010, G Block, Vs. 5Th Floor, Piramal Chambers, Bharat Diamond Bourse, Lalbaug, B.K.C., Bandra East, Mumbai-400012. Mumbai-400051. Pan No. Aaatt 3202 H Appellant Respondent

Section 2(15). indicated by proviso (ii) to Section 2(15). 174. The insertion of Section 13(8)144 , the seventeenth 74. The insertion of Section 13(8)144 , the seventeenth 74. The insertion of Section 13(8)144 , the seventeenth proviso to Section 10(23C) and third proviso to Section proviso to Section 10(23C) and third proviso

DCIT-1(1)(2), MUMBAI vs. M/S HINDUSTAN PETROLEUM CORPORATION LTD., MUMBAI

2), Mumbai,\n579, Aayakar Bhavan, M.K. Road,\nMumbai - 400020\nAppellant\nM/s Hindustan Petroleum\nCorporation Limited,\nPetroleum House, 17\nJ. Tata Road, Churchgate,\nMumbai - 400020\n[PAN: AAACH1118B]\nVs\nRespondent\nITA Nos. 3195-3196, 3911-3913 & 4579/Mum/2019\n& ITA Nos. 266 & 806/Mum/2020\nAYs 2014-15, 2015-16 & 2016-17\nAppearance\nFor the Appellant/Assessee\nFor the Respondent/Department :\nDate\nConclusion of hearing\nPronouncement

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

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Choudhary , 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, 5 Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Fort, Mumbai-400 001 Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaact1565C The Dy. Commissioner Of Income- The Great Eastern Shipping Co. Tax, 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)

disallowed notional expenditure aggregating to Rs.8.57 crores under clause 2(iii) of Rule 8D, which is completely erroneous and unwarranted. Reliance in this regard is placed on the following decisions: a) Adani Agro (P.) Ltd. - 253 Taxman 507 (Guj) This issue is covered in favour of the Appellant by the Hon‟ble Income Tax Appellate Tribunal, Mumbai, in the Appellant

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narfendrakumar Choudhary , Jm & & The Great Eastern Shipping Co. The Dy. Commissioner Of Ltd. Income-Tax, Kalyaniwalla & Mistry Llp Range-5(3), Esplanade House, 2 N D 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 Income- The Great Eastern Shipping Co. Tax, Ltd. Range-5(3), Kalyaniwalla & Mistry Llp Vs. Esplanade House, 2 N D Floor, Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Mumbai-400 020 Fort, Mumbai-400 001 (Appellant) (Respondent)

disallowed notional expenditure aggregating to Rs.8.57 crores under clause 2(iii) of Rule 8D, which is completely erroneous and unwarranted. Reliance in this regard is placed on the following decisions: a) Adani Agro (P.) Ltd. - 253 Taxman 507 (Guj) This issue is covered in favour of the Appellant by the Hon‟ble Income Tax Appellate Tribunal, Mumbai, in the Appellant

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narfendrakumar Choudhary , Jm & & The Great Eastern Shipping Co. The Dy. Commissioner Of Ltd. Income-Tax, Kalyaniwalla & Mistry Llp Range-5(3), Esplanade House, 2 N D 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 Income- The Great Eastern Shipping Co. Tax, Ltd. Range-5(3), Kalyaniwalla & Mistry Llp Vs. Esplanade House, 2 N D Floor, Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Mumbai-400 020 Fort, Mumbai-400 001 (Appellant) (Respondent)

disallowed notional expenditure aggregating to Rs.8.57 crores under clause 2(iii) of Rule 8D, which is completely erroneous and unwarranted. Reliance in this regard is placed on the following decisions: a) Adani Agro (P.) Ltd. - 253 Taxman 507 (Guj) This issue is covered in favour of the Appellant by the Hon‟ble Income Tax Appellate Tribunal, Mumbai, in the Appellant

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

In the result, appeal of the assessee (ITA number 1597/M/2018) is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Shri Narfendrakumar Choudhary , Jm & & The Great Eastern Shipping Co. The Dy. Commissioner Of Ltd. Income-Tax, Kalyaniwalla & Mistry Llp Range-5(3), Esplanade House, 2 N D 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 Income- The Great Eastern Shipping Co. Tax, Ltd. Range-5(3), Kalyaniwalla & Mistry Llp Vs. Esplanade House, 2 N D Floor, Room No.525B, 5Th Floor, M.K. Marg, 29, Hazarimal Somani Marg, Mumbai-400 020 Fort, Mumbai-400 001 (Appellant) (Respondent)

disallowed notional expenditure aggregating to Rs.8.57 crores under clause 2(iii) of Rule 8D, which is completely erroneous and unwarranted. Reliance in this regard is placed on the following decisions: a) Adani Agro (P.) Ltd. - 253 Taxman 507 (Guj) This issue is covered in favour of the Appellant by the Hon‟ble Income Tax Appellate Tribunal, Mumbai, in the Appellant

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

253. The Hon’ble Delhi High Court had ble Delhi High Court had ruled that, in absence of any exempt income, disallowance u/s ruled that, in absence of any exempt income, disallowance u ruled that, in absence of any exempt income, disallowance u 14A of the Act of any amount was not permissible. In arriving

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

2) no disallowance of expenditure in the absence of the actual expenditure incurred by the company, (3) nexus between the exempt income and expenditure disallowed under section 14 A of the act needs to be established and the assessee has disallowed on its own , ₹ 6,996,212 which is computed on a rational basis and therefore the disallowance should

INCOME TAX OFFICER 8(3)(3), MUMBAI vs. M/S.VIBGYOR TEXOTECH PRIVATE LIMITED, MUMBAI

In the result, the appeal of the assessee is partly allowed, whereas appeal of the Revenue is allowed

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

disallowed expenditure amounting to Rs.3,97,90,291/-in terms of section 40(a)(ia) of the Act. Additions for unexplained cash credit in terms of section 68 of the Act amounting to Rs.1,46,24,270/- and difference in valuation of fixed asset of Rs.2,50,19,760/- being written off were also made. The Assessing Officer made addition

M/S.VIBGYOR TEXOTECH PRIVATE LIMITED,MUMBAI vs. ACIT-8(3)(2), MUMBAI

In the result, the appeal of the assessee is partly allowed, whereas appeal of the Revenue is allowed

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

disallowed expenditure amounting to Rs.3,97,90,291/-in terms of section 40(a)(ia) of the Act. Additions for unexplained cash credit in terms of section 68 of the Act amounting to Rs.1,46,24,270/- and difference in valuation of fixed asset of Rs.2,50,19,760/- being written off were also made. The Assessing Officer made addition

GRASIM INDUSTRIES LTD.,MUMBAI vs. DY CIT, CENTRAL CIRCLE-1(4), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

253/– was reduced to Rs. 13,380.68 crores for the purpose of charging dividend distribution tax. Therefore, both the parties are aggrieved with the appellate order and are in appeal before us. 2. The assessee is appellant in ITA No. 1935/MUM/2020 raising following grounds of appeal: - “GROUND NO. 1: 1.1 On the facts and in the circumstances of the case

DY CIT CC-1(4), MUMBAI vs. M/S GRASIM INDUSTRIES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

253/– was reduced to Rs. 13,380.68 crores for the purpose of charging dividend distribution tax. Therefore, both the parties are aggrieved with the appellate order and are in appeal before us. 2. The assessee is appellant in ITA No. 1935/MUM/2020 raising following grounds of appeal: - “GROUND NO. 1: 1.1 On the facts and in the circumstances of the case

DY. COMMISSIONER OF INCOME TAX(EXEMPTIONS)-2(1), MUMBAI, MUMBAI vs. MUMBAI RAILWAY VIKAS CORPORATION LTD, MUMBAI

In the result, all the three appeals of the Revenue are dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawal

disallowance towards non deduction of tax at source u/s. 40(a)(ia) on professional/consultancy fee/fee for technical services u/s 194J. We take up all the three appeals together for adjudication by this consolidated order since common issue is involved. Ground no. 3 for Assessment Year 2018-19 shall be dealt separately. For the purpose of Mumbai Railway Vikas Corporation

DY. COMMISSIONER OF INCOME TAX(EXEMPTIONS)-2(1),MUMBAI, MUMBAI vs. MUMBAI RAILWAY VIKAS CORPORATION LTD, MUMBAI

In the result, all the three appeals of the Revenue are dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawal

disallowance towards non deduction of tax at source u/s. 40(a)(ia) on professional/consultancy fee/fee for technical services u/s 194J. We take up all the three appeals together for adjudication by this consolidated order since common issue is involved. Ground no. 3 for Assessment Year 2018-19 shall be dealt separately. For the purpose of Mumbai Railway Vikas Corporation

DY. COMMISSIONER OF INCOME TAX(EXEMPTIONS)-2(1),MUMBAI, MUMBAI vs. MUMBAI RAILWAY VIKAS CORPORATION LTD, MUMBAI

In the result, all the three appeals of the Revenue are dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawal

disallowance towards non deduction of tax at source u/s. 40(a)(ia) on professional/consultancy fee/fee for technical services u/s 194J. We take up all the three appeals together for adjudication by this consolidated order since common issue is involved. Ground no. 3 for Assessment Year 2018-19 shall be dealt separately. For the purpose of Mumbai Railway Vikas Corporation

ALLIED DIGITAL SERVICES LTD,MUMBAI vs. DCIT CEN CIR 3, MUMBAI

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

Bench: Shri G.S. Pannu & Shri Pawan Singhm/S Allied Digital Services Ltd. Dcit, Cc- 3, 13A, 13Th Floor, Earnest House, Mumbai. Ncpa, Nariman Point, Vs. Mumbai-400020. Pan: Aaaca5509K Appellant Respondent M/S Allied Digital Services Ltd. Dcit, Cc- 3, 13A, 13Th Floor, Earnest House, Mumbai. Ncpa, Nariman Point, Vs. Mumbai-400020. Pan: Aaaca5509K Appellant Respondent Appellant By : Shri Rakesh Joshi (Ar) Respondent By : Shri R.P. Meena (Cit-Dr) Date Of Hearing : 03.05.2018 Date Of Pronouncement : 29.06.2018 Order Under Section 254(1) Of Income –Tax Act Per Pawan Singh;

section 253 of the Income-tax Act (the Act) are directed against the separate order of ld. Commissioner of Income-Tax (Appeals)-47 [ld. CIT(A)], Mumbai dated 21.03.2016 for Assessment Year 2010-11 & 2011-12. In appeal for Assessment Year 2010-11, the assessee has raised the following grounds of appeal: 1) On the facts and circumstances

GREAVES COTTON LTD,MUMBAI vs. ASST CIT CIR 6(3), MUMBAI

In the result this ground of appeal

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhgreaves Cotton Ltd. Acit Circle-6(3), Industry Manor, Appasaheb Aayakar Bhavan, M.K. Road, Vs. Marathe Marg, Prabhadevi, Mumbai-400020. Mumbai-400025. Pan: Aaacg2062M Appellant Respondent Greaves Cotton Ltd. Acit Circle-6(3), Industry Manor, Appasaheb Aayakar Bhavan, M.K. Road, Vs. Marathe Marg, Prabhadevi, Mumbai-400020. Mumbai-400025. Pan: Aaacg2062M Appellant Respondent Appellant By : Smt. Arati Vissanji (Advocate) Respondent By : Shri Abbi Rama Karthikey (Dr) Date Of Hearing : 04.06.2019 Date Of Pronouncement : 07.06.2019 Order Under Section 254(1)Of Income Tax Act

253 of the Income-tax Act (‘the Act’) are directed against the assessment order passed under section 143(3) r.w.s. 144C passed in pursuance of direction of ld. Dispute Resolution Panel- 1 (ld. DRP), Mumbai for Assessment Year 2006-07 & 2007-08. In both the appeals, the assessee has raised certain identical grounds of appeal, therefore, both the appeals were