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

57,22,635/- respectively. The assessee's case was selected for scrutiny and the statutory notices were duly served on the assessee. The Assessing Officer (AO) completed the assessment by making the following disallowance: (i) Disallowance under section

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

57,22,635/- respectively. The assessee's case was selected for scrutiny and the statutory notices were duly served on the assessee. The Assessing Officer (AO) completed the assessment by making the following disallowance: (i) Disallowance under section

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

57 (iii) of the act. Ratio of Hon’ble Bombay High Court in the case of AMRITABEN R SHAH was followed. 28 g) Hon’ble ITAT Mumbai D bench in the case of GANJAM TRADING CO PVT LTD ( ITA NO 3724/ MUM/2005) wide order dated 28-6-2012 dealt with section 14 A as well

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

57,22,635/-\nrespectively. The assessee's case was selected for scrutiny and the statutory notices\nwere duly served on the assessee. The Assessing Officer (AO) completed the\nassessment by making the following disallowance:\n(i) Disallowance under section

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)

57,96,000/- and has not disallowed the proportionate interest expenses and a show cause notice was issued for invoking provisions u/sec 14A r.w.r.8D of IT Rules. Whereas the assessee has filed details on 10.03.2016 mentioning that in the assesses own case, the Hon’ble Tribunal for AY:2008-09 has dismissed the appeal of the revenue on the ground

BENNETT PROPERTY HOLDINGS COMPANY LIMITED,MUMBAI vs. ADDITIONAL -JOINT -DEPUTY-ASST. COMMISSIONER OF INCOME TAX- ITO, DELHI

Section 14A(2) of the Act without coming to an objective satisfaction based on the accounts of the appellant that the disallowance made in the return of income was incorrect, the order of the Ld. CIT(A) confirming the said disallowance of Rs 6,72,57

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)

Section 14A read with Rule 8D of the Income- tax Rules, 1962. Honorable Bombay High court in THE COMMISSIONER OF INCOME TAX, MUMBAI V. JSW ENERGY LTD. 2015 SCC ONLINE BOM 5243 has also held that such adjustment is not permitted. Therefore pg. 16 adjustment to the book profit as computed u/s 115 JB of the act and further increasing

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)

Section 14A read with Rule 8D of the Income- tax Rules, 1962. Honorable Bombay High court in THE COMMISSIONER OF INCOME TAX, MUMBAI V. JSW ENERGY LTD. 2015 SCC ONLINE BOM 5243 has also held that such adjustment is not permitted. Therefore pg. 16 adjustment to the book profit as computed u/s 115 JB of the act and further increasing

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)

Section 14A read with Rule 8D of the Income- tax Rules, 1962. Honorable Bombay High court in THE COMMISSIONER OF INCOME TAX, MUMBAI V. JSW ENERGY LTD. 2015 SCC ONLINE BOM 5243 has also held that such adjustment is not permitted. Therefore pg. 16 adjustment to the book profit as computed u/s 115 JB of the act and further increasing

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)

Section 14A read with Rule 8D of the Income- tax Rules, 1962. Honorable Bombay High court in THE COMMISSIONER OF INCOME TAX, MUMBAI V. JSW ENERGY LTD. 2015 SCC ONLINE BOM 5243 has also held that such adjustment is not permitted. Therefore pg. 16 adjustment to the book profit as computed u/s 115 JB of the act and further increasing

DCIT 2(2), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee for assessment year 2006 – 07 and 2007 – 08 is partly allowed

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm A.Y.2006-07 [ By Assessee] &

section 143(3) of the Act held that claim of the assessee was required to be disallowed in the light of the decision of the Supreme Court in Vijaya Bank Ltd. v. Addl CIT [1991] 57

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

57,00,000/- and therefore, no disallowance was warranted in respect of interest cost attributable to earning the exempt income in terms of Section

DCIT 2(1)(1), MUMBAI vs. BAJAJ ELECTRICALS LTD, 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

57,22,635/-\nrespectively. The assessee's case was selected for scrutiny and the statutory notices\nwere duly served on the assessee. The Assessing Officer (AO) completed the\nassessment by making the following disallowance:\n(i) Disallowance under section

DCIT CIR 3(1)(1), MUMBAI vs. AIRMID DEVELOPERS LTD, MUMBAI

In the result, the appeal by the Revenue is dismissed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

disallowed the deduction claimed under section 57(iii) of the Act. The AO further held that the assessee has used

DCIT CIR 3(1)(1), MUMBAI vs. AIRMID DEVELOPERS LTD, MUMBAI

In the result, the appeal by the Revenue is dismissed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

disallowed the deduction claimed under section 57(iii) of the Act. The AO further held that the assessee has used

AIRMID DEVELOPERS LTD,NEW DELHI vs. DCIT CIR 3(1)(1), MUMBAI

In the result, the appeal by the Revenue is dismissed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

disallowed the deduction claimed under section 57(iii) of the Act. The AO further held that the assessee has used

AIRMID DEVELOPERS LTD,NEW DELHI vs. DCIT CIR 3(1), MUMBAI

In the result, the appeal by the Revenue is dismissed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

disallowed the deduction claimed under section 57(iii) of the Act. The AO further held that the assessee has used

BENNETT PROPERTY HOLDINGS COMPANY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 1 (1) (1), MUMBAI, MUMBAI

Section 14A(2) of the Act without coming to an objective satisfaction based on the accounts of the appellant that the disallowance made in the return of income was incorrect, the order of the Ld. CIT(A) confirming the said disallowance of Rs 6,72,57