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 made under section 14A of the Act while computing the book profit under section 115JB of the Act. 55. We have dealt with this issue while deciding ground no.11, raised by the assessee in its appeal being ITA no.6518/Mum./2017, wherein we have upheld the decision of the learned Commissioner (Appeals). Facts being identical, following our decision therein

CABLE CORPORATION OF INDIA LTD,MUMBAI vs. DCIT CIRCLE 2(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Amarjeet Singhassessment Year: 2010-11

section 56(2)(vii)(a) of the Act are applicable to the gifts received by a company or firm even then the said provisions are not applicable to the assessee as it is a company in the public are substantially interested and this class of companies haves been specifically excluded from the application of clause 56

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 53,98,087 - Disallowance of Prior Period Expenditure 3,92,675 Total Addition in dispute before the Tribunal 57,90,762 Tax on Income at normal rates 17,37,229 Add: Surcharge @7.5% 1,30,292 18,67,521 Add: Education Cess @3% 56

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 53,98,087 - Disallowance of Prior Period Expenditure 3,92,675 Total Addition in dispute before the Tribunal 57,90,762 Tax on Income at normal rates 17,37,229 Add: Surcharge @7.5% 1,30,292 18,67,521 Add: Education Cess @3% 56

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 53,98,087 - Disallowance of Prior Period Expenditure 3,92,675 Total Addition in dispute before the Tribunal 57,90,762 Tax on Income at normal rates 17,37,229 Add: Surcharge @7.5% 1,30,292 18,67,521 Add: Education Cess @3% 56

25FPS MEDIA PVT. LTD.,MUMBAI vs. ITO ,RANGE -6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

56(1) towards the market value of the shares of Zee News Ltd. received from the holding company at nil consideration, the disallowance of Rs.1,65,85,334/- was made u/s 14A, disallowance of expenses of Rs.2,58,769/- was made u/s 37 of the Act and addition of 2 3085/M/2018 A.Y. 2012-13 interest on Income Tax refund

ITO 6(3)(1), MUMBAI vs. 25 FPS MEDIA PVT. LTD. , MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

56(1) towards the market value of the shares of Zee News Ltd. received from the holding company at nil consideration, the disallowance of Rs.1,65,85,334/- was made u/s 14A, disallowance of expenses of Rs.2,58,769/- was made u/s 37 of the Act and addition of 2 3085/M/2018 A.Y. 2012-13 interest on Income Tax refund

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 ()

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

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

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

In the result, appeal of the assessee is partly allowed

56 SOT 214 (Mum. Trib.). 24. The ld. DR endorsed that in so far as issue no. 2 & 3 raised in the present appeal relating to disallowance of interest expenditure under section

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

In the result, appeal of the assessee is partly allowed

56 SOT 214 (Mum. Trib.). 24. The ld. DR endorsed that in so far as issue no. 2 & 3 raised in the present appeal relating to disallowance of interest expenditure under section

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

In the result, appeal of the assessee is partly allowed

56 SOT 214 (Mum. Trib.). 24. The ld. DR endorsed that in so far as issue no. 2 & 3 raised in the present appeal relating to disallowance of interest expenditure under section

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

In the result, appeal of the assessee is partly allowed

56 SOT 214 (Mum. Trib.). 24. The ld. DR endorsed that in so far as issue no. 2 & 3 raised in the present appeal relating to disallowance of interest expenditure under section

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

In the result, appeal of the assessee is partly allowed

56 SOT 214 (Mum. Trib.). 24. The ld. DR endorsed that in so far as issue no. 2 & 3 raised in the present appeal relating to disallowance of interest expenditure under section

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

In the result, appeal of the assessee is partly allowed

56 SOT 214 (Mum. Trib.). 24. The ld. DR endorsed that in so far as issue no. 2 & 3 raised in the present appeal relating to disallowance of interest expenditure under section

JOSEPH MUDALIAR,MUMBAI vs. DCIT CC 4 (3), MUMBAI

In the result, appeal is partly allowed

Bench: Shri Saktijit Dey () & Shri S. Rifaur Rahman ()

56(2)(viib), ignoring the fact that property was booked under construction in OCT2013 when the property market price was lower. 2. The Learned CIT(A) has erred in disallowing Rs. 150000/ being development charges paid to builders for 4 flats & bank interest of Rs.173308/- paid during construction period while calculating long term capital gain, ignoring the fact that these

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

disallowance under Section 14A read with Rule 8D was restricted to INR 27,87,56,385/- (INR 28,79,62,023/- Less