DCIT 4(3)(1), MUMBAI vs. RELIANCE TRANSPORT AND TRAVELS P.LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri S. Rifaur Rahman: A.Y : 2013-14 Asst. Commissioner Of Income Vs. M/S. Reliance Transport & Tax – 4(3)(1), Travels Pvt. Ltd., Mumbai (Appellant) 6Th Floor, Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai 400 020. Pan : Aaacr2380M (Respondent)

disallowed on the ground of personal use in the hands of the assessee company. Therefore, the ld. CIT (A) has rightly concluded that the yacht was not used by the assessee for its own personal use as it has operated the yacht for the benefit and use of companies or entities paying operating fee as per the agreement. 12. Insofar

DCITCC 3(2) CEN RG 3, MUMBAI vs. HRISHIKESH D. PAI, MUMBAI

In the result , the appeal of the Revenue in ITA no

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2766/Mum/2017 (नििाारण वर्ा / Assessment Year : 2012-13) बिाम/ Dcit, Cc 3(2) Cen Rg 3 Shri Hrishikesh D. Pai, R.No. 1913, 19Th Floor, C/O M/S. Pregnancy Air India Building, Advice & Services, V. Nariman Point, 304, Pearl Centre, Mumbai S.B. Marg, Dadar, Mumbai 400028 स्थायी ऱेखा सं./ Pan : Aabpp2139C (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri. Manoj Kumar Singh, Dr Assessee By : Shri. Vijay Mehta सुनवाई की तारीख /Date Of Hearing : 23.08.2018 घोषणा की तारीख /Date Of Pronouncement :26.09.2018 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 2766/Mum/2017, Is Directed Against Appellate Order Dated 05.12.2016 Passed By Learned Commissioner Of Income Tax (Appeals)-5, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2012-13, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 30.03.2015 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2012-13. I.T.A. No.2766/Mum/2017

section 50 of the IT Act, the gain arising out of sale of said depreciable assets was rightly treated as short term capital gain by the Assessing Officer and disallowed

D.C.I.T. CENT. CIR. - 7(2), MUMBAI vs. RAJAHMUNDHRY EXPRESSWAY LTD., MUMBAI

In the result, appeals are dismissed

Bench: Shri Saktijit Dey & Shri G. Manjunatha

disallowance of expenditure under section 14A of the Act. 50. This ground is identical to ground no.11, raised by the assessee

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

50 1949( E) [F.NO.370142/7/2016-TPL]. 5. Disallowance under Section 36(1)(iii), Section 37 and Section 38 of the Act amounting

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 - Rs. 1,19,07,328/- (ii) Disallowance of Expenditure towards ESOP - Rs. 7,35,861/- (iii) Disallowance of prior period expenses - Rs. 7,50

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 - Rs. 1,19,07,328/- (ii) Disallowance of Expenditure towards ESOP - Rs. 7,35,861/- (iii) Disallowance of prior period expenses - Rs. 7,50

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 - Rs. 1,19,07,328/- (ii) Disallowance of Expenditure towards ESOP - Rs. 7,35,861/- (iii) Disallowance of prior period expenses - Rs. 7,50

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 u 45. Having held so, the next question for our consideration Having held so, the next question for our consideration Having held so, the next question for our consideration is whether the following Explanation inserted by is whether the following Explanation inserted by is whether the following Explanation inserted by the Finance Act, 2022 in Section

TECHNO SHARES & STOCKS LTD,MUMBAI vs. ADDL CIT RG 4(2), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Shri G.S. Pannu() : A.Y : 2008-09

disallowance made by the Assessing Officer on the ground that since assessee has claimed depreciation on the cost of membership card, the computation of Capital Gains on sale of shares will fall under Section 50

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 ()

Section 14A r.w.r. 8D. Appellant has disallowed suo 14A r.w.r. 8D. Appellant has disallowed suo-motto an amount of motto an amount of Rs.9,08,52,583/ Rs.9,08,52,583/- but there is no proper justification for such but there is no proper justification for such disallowance. As per the appellant's admission by letter dated disallowance

APL LOGISTICS (INDIA) P. LTD,MUMBAI vs. ACIT 10(1), MUMBAI

In the result, appeal of the assessee is partly allowed

disallowance made under section 14A r.w.r 8D are deleted for parity of reasons. 28. In the result, appeal of the Revenue is dismissed and the appeal of assessee is allowed. ITA No. 6473/Mum/2013 for AY 2008-09 (Department’s Appeal) ITA No. 6480/Mum/2013 for AY 2008-09 (Assessee’s Appeal) 29. The ld. Counsel for the assessee pointed that

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

In the result, appeal of the assessee is partly allowed

disallowance made under section 14A r.w.r 8D are deleted for parity of reasons. 28. In the result, appeal of the Revenue is dismissed and the appeal of assessee is allowed. ITA No. 6473/Mum/2013 for AY 2008-09 (Department’s Appeal) ITA No. 6480/Mum/2013 for AY 2008-09 (Assessee’s Appeal) 29. The ld. Counsel for the assessee pointed that

APL LOGISTICS (INDIA) P. LTD,MUMBAI vs. ASST CIT 10(1), MUMBAI

In the result, appeal of the assessee is partly allowed

disallowance made under section 14A r.w.r 8D are deleted for parity of reasons. 28. In the result, appeal of the Revenue is dismissed and the appeal of assessee is allowed. ITA No. 6473/Mum/2013 for AY 2008-09 (Department’s Appeal) ITA No. 6480/Mum/2013 for AY 2008-09 (Assessee’s Appeal) 29. The ld. Counsel for the assessee pointed that

APL LOGISTICS (INDIA) P.LTD,MUMBAI vs. ASST CIT 10(1), MUMBAI

In the result, appeal of the assessee is partly allowed

disallowance made under section 14A r.w.r 8D are deleted for parity of reasons. 28. In the result, appeal of the Revenue is dismissed and the appeal of assessee is allowed. ITA No. 6473/Mum/2013 for AY 2008-09 (Department’s Appeal) ITA No. 6480/Mum/2013 for AY 2008-09 (Assessee’s Appeal) 29. The ld. Counsel for the assessee pointed that

DCIT 10(1), MUMBAI vs. APL LOGISTICS (INDIA) P. LTD, MUMBAI

In the result, appeal of the assessee is partly allowed

disallowance made under section 14A r.w.r 8D are deleted for parity of reasons. 28. In the result, appeal of the Revenue is dismissed and the appeal of assessee is allowed. ITA No. 6473/Mum/2013 for AY 2008-09 (Department’s Appeal) ITA No. 6480/Mum/2013 for AY 2008-09 (Assessee’s Appeal) 29. The ld. Counsel for the assessee pointed that

DCIT 10(1), MUMBAI vs. APL LOGISTICS (INDIA ) P.LTD, MUMBAI

In the result, appeal of the assessee is partly allowed

disallowance made under section 14A r.w.r 8D are deleted for parity of reasons. 28. In the result, appeal of the Revenue is dismissed and the appeal of assessee is allowed. ITA No. 6473/Mum/2013 for AY 2008-09 (Department’s Appeal) ITA No. 6480/Mum/2013 for AY 2008-09 (Assessee’s Appeal) 29. The ld. Counsel for the assessee pointed that

RELIANCE POWER LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 15(3)(1), MUMBAI

In the result, ground of appeal raised by assessee is allowed

Bench: Shri Pawan Singh& Shri Omkareshwar Chidara(Physical Hearing) Dcit – 15(3)(1), Mumbai Reliance Power Limited Room No. 460, 4Th Floor, H-Block, 1St Floor, Dhirubhai Ambani Vs Aayakar Bhavan, M.K. Road, Knowledge City, Koperkhairane, Mumbai – 400020] Navi Mumbai-400710 [Pan: Aaacr2365L] Appellant / Revenue Respondent / Assessee Reliance Power Limited Dcit – 15(3)(1), Mumbai Room No. 460, 4Th Floor, Aayakar Reliance Centre, Ground Floor, 19 Vs Walchand Hirachand Marg, Bhavan, M.K. Road, Ballard Estate, Mumbai – 400001. Mumbai – 400020] [Pan: Aaacr2365L] Appellant / Assessee Respondent / Revenue

section 14A of the Act provides for disallowance of the expenditure even where tax payer in a particular year has not earned any exempt income and such disallowance is mandatory? 3. On the facts and in the circumstances of the case and in law, whether the Ld. CIT(A) has erred in not considering the clarification introduced through Finance

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

section 14A r.w.r. 8D\n- Rs.1,19,07,328/-\n(ii) Disallowance of Expenditure towards ESOP\nRs.\n7,35,861/-\n(iii) Disallowance of prior period expenses\nRs.\n7,50