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

section 92CA of the Act amounting to INR 9,5,.43,090, details of which are provided below. 2. Imputation of interest on the Share application money pending allotment - INR 9,25,35,248 [ Page 3 and 4 of the Final Assessment Order] The learned AO/ the learned TPO and the Hon'ble DRP erred in facts

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

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 the disallowance made towards prior period expenditure. Both the assessee and the revenue are in appeal against the order of the CIT(A). ITA 5749 Mum 2015 – Revenue's appeal 33

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

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 the disallowance made towards prior period expenditure. Both the assessee and the revenue are in appeal against the order of the CIT(A). ITA 5749 Mum 2015 – Revenue's appeal 33

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

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 the disallowance made towards prior period expenditure. Both the assessee and the revenue are in appeal against the order of the CIT(A). ITA 5749 Mum 2015 – Revenue's appeal 33

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 ()

33,64,56,570/-. The assessee, on its own accord, made a assessee, on its own accord, made a suo-motu disallowance of ₹10,53,55,857/- under section

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. & 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

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. 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

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

ASST. COMMISSIONER OF INCOME-TAX-CIRCLE 6(1)(2), MUMBAI, MUMBAI vs. 360 ONE PRIME LTD., MUMBAI

In the result, the appeal of the Revenue is allowed for t, the appeal of the Revenue is allowed for t, the appeal of the Revenue is allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2016-17 Asst. Cit Circle-6(1)(2), 360 One Prime Ltd., Room No. 506, 5Th Floor, Aayakar Iifl Centre, Kamala City, Senapati Vs. Bhavan, M.K. Road, Bapat Marg, Lower Parel (W), Mumbai-400020. Mumbai-400013. Pan No. Aabcc 3347 E Appellant Respondent

disallowance computed under Rule 8D cannot be imported into the provisions of section 115JB of the Act for computing the rovisions of section 115JB of the Act for computing the rovisions of section 115JB of the Act for computing the book profit. 4.1 As far as the issue of dissatisfaction to the claim of the As far as the issue

SAPHALE PARISAR BIGARSHETI , SAHKARI PATSANSTHA MARYADIT, SAPHALE,MUMBAI vs. PCIT-1, THANE

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

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2017-18 Saphaleparisarbigarshetisahkaripatsansthamaryadit, Pr. Cit-1, Saphale, Ashar It Vs. Ambika Nagar, Ambika Rice Mill Compound, Park, 6Th Tandulwadi Road, Umbarpada, Saphale East, Dist Floor, Palghar-401 102. Income Tax Office, Wagle Estate, Thane- 400604. Pan No. Aafas 4609 H Appellant Respondent Assessee By : Mr. Unmesh Narvekar, Ar Revenue By : Dr. Kishor Dhule, Cit-Dr : Date Of Hearing 20/03/2023 Date Of Pronouncement : 31/03/2023 Order

disallowed and added back to income. The Karnataka High Court in the case of PCIT, Hubli Vs. The Karnataka High Court in the case of PCIT, Hubli Vs. The Karnataka High Court in the case of PCIT, Hubli Vs. Totgar Co-op. Sale Society 395 IT 611 dated 16.06.2017 (ITA op. Sale Society 395 IT 611 dated

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

section 10(33) that was available and not to disallow any part of the expenditure claimed, hence it was not open

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

33, we uphold the plea of the assessee that no disallowance under section 14A was and in the circumstances of the case

DEPUTY COMMISSIONER OF INCOME TAX, CC-7(3), MUMBAI vs. M/S MACROTECH DEVELOPERS LIMITED , MUMBAI

Accordingly should be allowed as a deduction

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

disallowance being considered for computing book profit under section 115JB, the CIT(A) held that the same could not be made following various judicial precedence. 7. The Ld.AR submitted the below workings to submit that the own funds of the assessee is more than the investments made in tax free income earning investments. Own Funds workings (Rs in lakhs) Particulars

DEPUTY COMMISSIONER OF INCOME TAX CC-7(3), MUMBAI vs. M/S MACROTECH DEVELOPERS LIMITED (FORMERLY KNOWN AS LODHA DEVELOPERS PVT LTD) (SUCCESSOER OF M/S BELLISSIMO CROWN BUILDMART PVT LTD ), MUMBAI

Accordingly should be allowed as a deduction

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

disallowance being considered for computing book profit under section 115JB, the CIT(A) held that the same could not be made following various judicial precedence. 7. The Ld.AR submitted the below workings to submit that the own funds of the assessee is more than the investments made in tax free income earning investments. Own Funds workings (Rs in lakhs) Particulars

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)

section 14A applies irrespective of whether shares are held to gain control or as stock-in-trade. In view of the above decisions which are relevant to the instant case, we set aside the order of the Ld. CIT(A) and restore the matter to the file of the AO to recomputed the disallowance u/s 14A r.w. Rule