JCIT(OSD)-14(1)(1), MUMBAI vs. AVENDUS CAPITAL PVT. LTD., MUMBAI

Appeal is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2020-21 Jcit (Osd)-14(1)(1), M/S Avendus Capital Pvt. Ltd., Room No. 432, 4Th Floor, 901, Platina, 9Th Floor, Plot No. Vs. Aayakar Bhavan, M.K. Road, C59, Bandra Kurla Complex, Mumbai-400020. Bandra East, Mumbai-400051. Pan No.Aabcc 2404 Q Appellant Respondent

disallowance of ESOP expenses under section 37(1) of the Act. for disallowance of ESOP expenses under section 37(1) of the for disallowance

LIC HOUSING FINANCE LIMITED,MUMBAI vs. ACIT 2(2)(1), MUMBAI, AAYKAR BHAVAN, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2017-18

disallowed under section 37 as per essence, the CSR expenditure disallowed under section 37 as per essence, the CSR expenditure

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 under Section 36(1)(iii), Section 37 and Section 38 of the Act amounting to INR 15,34,55,236 (Page

DY. COMMISSIONER OF INCOME-TAX, MUMBAI vs. QUANTUM ADVISORS PVT. LTD., MUMBAI

In the result, the appeal of the Revenue is allowed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2015-16 Dcit-1(3)(1), M/S Quantum Advisors Pvt. Ltd., Room No. 535, 5Th Floor, 503, Regent Chambers, Nariman Vs. Aayakar Bhavan, Point, Mumbai-400021. M.K. Road, Mumbai-400020. Pan No. Aaacq 0281 C Appellant Respondent

disallowable under section 37(1) of the Act, having regard to the stand o under section 37(1) of the Act, having

ICICI SECURITIES LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, MUMBAI -4, MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

disallowances in accordance with Section 28-44BB of the Act including Explanation to Section 37(1). Thus, Section 37

MAHANSARIA ENTERPRISES PVT LTD,MUMBAI vs. PR. CIT, MUMBAI-5, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Vikram Singh Yadav & Shri Rahul Chaudharyassessment Year : 2020-21 Mahansaria Enterprises Private The Principal Commissioner Of Limited, Income Tax (Pcit), 301-304, 3Rd Floor, Vs. Room No. 515, 5Th Floor, Peninsula Chambers, Aayakar Bhavan, Peninsula Corporate Park, Maharshi Karve Road, G.K. Marg, Lower Parel West, Mumbai-400020 Mumbai-400026 Pan : Aaacy1568L (Appellant) (Respondent) For Assessee : Shri Vipul Joshi, Adv. & Prashant Bhumare For Revenue : Shri Satyaprakash R. Singh, Cit-Dr Date Of Hearing : 14-05-2025 Date Of Pronouncement : 11-06-2025 O R D E R Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Principal Commissioner Of Income Tax, Mumbai-5 [„Ld.Pcit‟] U/S. 263 Of The Income Tax Act, 1961 („The Act‟), Dated 17-03-2025, Pertaining To Assessment Year (Ay) 2020-21, Wherein The Assessee Has Taken The Following Grounds Of Appeal:

disallowances in accordance with Section 28-44BB of the Act including Explanation to Section 37(1). Thus, Section 37

BALRAJSINGH JAGJITSINGH KHARBANDA,MUMBAI vs. ADIT, CPC , BANGALORE

In the result, appeal of the assessee is In the result, appeal of the assessee is dismissed dismissed

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2019-2020 Balrajsinghjagjitsingh Adit, Cpc Bangalore, Kharbanda, Cpc, Bangalore-560500. C/3, Ravi Darshan, Sherly Vs. Rajan Road, Bandra West, Mumbai-400050. Pan No. Adhpk 1733 G Appellant Respondent Assessee By : Mr. Rajesh S. Kothari Revenue By : Kamble Minal Mohan, Dr : Date Of Hearing 05/06/2023 : Date Of Pronouncement 07/06/2023 Order

disallowable under section 37 (1) utilising the services of the club as disallowable under section 37 (1) utilising the services

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

disallowing the sum of Rs.\n6,37,00,000/-, expenditure in respect of post-retirement medical\nbenefit by considering the same under the provisions of section

AXIS SECURITIES LIMITED ,MUMBAI vs. PCIT -4 , MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Sandeep Gosain(Jm) & Shri Prabhash Shankar(Am) Axis Securities Limited Pcit-4 Unit 002A & 002B, Agastya Room No. 629 Corporate Park, Pirmal Realty Vs. Aayakar Bhavan Kamani Junction, Kurla-W M.K. Road Mumbai-400 070. Mumbai-400 020. Pan : Aabce6263F Appellant Respondent

disallowances in accordance with Section 28-44BB of the Act including Explanation to Section 37(1). Thus, Section 37

A.K. CAPITAL SERVICES LIMITED ,MUMBAI vs. PCIT, MUMBAI

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

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

section 37(1) of the Act. Thus, there is no correlation between suomoto disallowance in section 37(1) and claim

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

disallowance under section 14A of the Act can be made for that year. section 14A of the Act can be made for tha section 14A of the Act can be made for tha Such an interpretation is not in line with the intention of Such an interpretation is not in line with the intention of Such an interpretation

DCIT 3(3)(1), MUMBAI vs. SIKKA PORTS AND TERMINAL LIMITED, MUMBAI

Accordingly the grounds raised by the revenue contending these two issues are dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

disallowances in accordance with Section 28-44BB of the Act including Explanation to Section 37(1). Thus, Section 37

ACIT-3(3)(1), MUMBAI, MUMBAI vs. SIKKA PORTS AND TERMINALS LIMITED, MUMBAI

Accordingly the grounds raised by the revenue contending these two issues are dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

disallowances in accordance with Section 28-44BB of the Act including Explanation to Section 37(1). Thus, Section 37

INDIABULLAS HOUSING FINANCE LIMITED,MUMBAI vs. DCIT, CENTRAL CIRCLE-6(4), MUMBAI

disallowance. Therefore, the Revenue is now in appeal before us on this issue. 8.2. We have heard the rival contentions and perused the material on record. 8.3. This issue of deductibility of ESOP Expenses under Section 37

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

disallowance Amount rupees number 1 Transportation charges under section 37 ₹ 4,435,916 2 Hiring charges under section 37 ₹ 6,302,742 3 Unproved

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

disallowance Amount rupees number 1 Transportation charges under section 37 ₹ 4,435,916 2 Hiring charges under section 37 ₹ 6,302,742 3 Unproved

CAPRI GLOBAL ADVISORY SERVICES PVT. LTD. (NOW AMALGAMATED WITH CAPRI GLOBAL HOLDINGS PVT. LTD.),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), MUMBAI

In the result all the appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

disallowances in accordance with Section 28- 44BB of the Act including Explanation to Section 37(1). Thus, Section 37(1) and Section

CAPRI GLOBAL ADVISORY SERVICES PVT. LTD. (NOW AMALGAMATED WITH CAPRI GLOBAL HOLDINGS PVT. LTD.),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), MUMBAI

In the result all the appeals of the assessee are allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

disallowances in accordance with Section 28- 44BB of the Act including Explanation to Section 37(1). Thus, Section 37(1) and Section