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 make the disallowance of Rs. 1,05,10,437/- consisting of disallowance towards interest under Rule 8D(2)(ii) amounting to Rs. 90

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 make the disallowance of Rs. 1,05,10,437/- consisting of disallowance towards interest under Rule 8D(2)(ii) amounting to Rs. 90

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 make the disallowance of Rs. 1,05,10,437/- consisting of disallowance towards interest under Rule 8D(2)(ii) amounting to Rs. 90

TATA CONSULTANCY SERRVICES LIMITED,MUMBAI vs. DCIT-1, MUMBAI

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

Disallowance of claim of deduction under section 10AA in respect of interest income – Grounds 4 (4.1 & 4.2)  Foreign tax credit as per the provisions of section 90

ACIT(LTU-1), MUMBAI vs. M/S. TCS LTD, MUMBAI

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

Disallowance of claim of deduction under section 10AA in respect of interest income – Grounds 4 (4.1 & 4.2)  Foreign tax credit as per the provisions of section 90

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 ()

disallowed in full under sub disallowed in full under sub-rule (i); and Asia Investments Pvt. Ltd ITA No. 4529, 6353/MUM/2017, 6209/MUM/2019 (ii) indirect interest expenditure indirect interest expenditure, being interest that cannot be , being interest that cannot be specifically identified or segregated as relating either to taxable specifically identified or segregated as relating either to taxable specifically identified

TATA CONSULTANCY SERVICES LTD,MUMBAI vs. ASST CIT LTU-1, MUMBAI

In the result, appeal by the assessee is partly allowed for statistical purpose

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

disallowed under the provisions of section 40(a)(ii) of the Act. The assessee submitted that as per Explanation–1 to section 40(a)(ii) of the Act only the sum eligible for relief of tax under section 90

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\n- Disallowance of Prior Period Expenditure\nTotal Addition in dispute before the Tribunal\nTax on Income at normal rates\nAdd: Surcharge @7.5%\nAdd: Education Cess @3%\nTotal Tax effects\nAmount – Rs.\n53,98,087\n3,92,675\n57,90

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)

90 taxmann.com 430) (Raipur ITAT) (b) Disallowance under section 14A read with rule 8D cannot exceed 1 percent of exempt

BANK OF INDIA,MUMBAI vs. ASST. CIT-2(1)(1), MUMBAI

In the result, the appeal of the Assessing Officer is partly allowed in the terms indicated above

90 will override the provisions of Section 115JB, and, for this reason, the incomes taxed abroad under the tax treaties should be excluded from taxation of book profits under section 115 JB, he overlooks the fundamental position that such a treaty protection will come normally into play for taxation of non-resident in India, i.e. source country taxation

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. ()

disallowed 50% of the expenses towards capitalization to the cost of project. On further appeal, the CIT(A) held that the directors salary and handover facility expenses are incurred year after year and they are related to the business of the assessee in general and not project specific expenses. The Ld.CIT(A) further held that these expenses are neither capital

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. ()

disallowed 50% of the expenses towards capitalization to the cost of project. On further appeal, the CIT(A) held that the directors salary and handover facility expenses are incurred year after year and they are related to the business of the assessee in general and not project specific expenses. The Ld.CIT(A) further held that these expenses are neither capital

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)

90,58,24,995/– wherein the adjustment of arm‟s-length price of international transaction of ₹ 93,024,605/–, disallowance under section

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)

90,58,24,995/– wherein the adjustment of arm‟s-length price of international transaction of ₹ 93,024,605/–, disallowance under section

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)

90,58,24,995/– wherein the adjustment of arm‟s-length price of international transaction of ₹ 93,024,605/–, disallowance under section

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)

90,58,24,995/– wherein the adjustment of arm‟s-length price of international transaction of ₹ 93,024,605/–, disallowance under section

RELIANCE RETAIL LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 8(1)(1), MUMBAI

In the result, the appeal filed by the Revenue is dismissed,\nwhereas the appeal filed by the assessee is partly allowed

disallowance of deduction under section 80G was not sustainable, and the claim for Foreign Tax Credit was allowed for statistical purposes. The Revenue's appeal was dismissed, while the assessee's appeal was partly allowed.", "result": "Partly Allowed", "sections": [ "80G", "80JJAA", "14A", "41(1)", "90

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

section 14A\nDisallowance of Prior Period Expenditure\nTotal Addition in dispute before the Tribunal\nTax on Income at normal rates\nAdd: Surcharge @7.5%\nAdd: Education Cess @3%\nTotal Tax effects\nAmount – Rs.\n53,98,087\n3,92,675\n57,90,762\n17,37,229\n1,30,292\n18,67,521\n56,026\n19,23,546\n48.\nWe heard the parties