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)

disallowance made under section 14 A of the act and under the normal computation of income is also required to be added back for computing book profits under section 115JB of the act. The appellant submits that section 115JB of the act is a separate code by itself and the provisions of section 14 A and rule 8D cannot

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)

disallowance made under section 14 A of the act and under the normal computation of income is also required to be added back for computing book profits under section 115JB of the act. The appellant submits that section 115JB of the act is a separate code by itself and the provisions of section 14 A and rule 8D cannot

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)

disallowance made under section 14 A of the act and under the normal computation of income is also required to be added back for computing book profits under section 115JB of the act. The appellant submits that section 115JB of the act is a separate code by itself and the provisions of section 14 A and rule 8D cannot

MONDELEZ INDIA FOODS P. LTD,MUMBAI vs. DCIT RG 5(1)(2), MUMBAI

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

section 92C(1) has been restricted within the precinct of the five specific methods. This gathers strength from the fact that even in the Rules, relevant Rule 10B provides with the similar wordings. 68. Taking into account the clear and unambiguous wordings of the provisions of the Income-tax Act and Rules and respectfully following the decision of the Special

MONDELEZ INDIA FOODS P.LTD,MUMBAI vs. ASST CIT RG 5(1)(2), MUMBAI

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

section 92C(1) has been restricted within the precinct of the five specific methods. This gathers strength from the fact that even in the Rules, relevant Rule 10B provides with the similar wordings. 68. Taking into account the clear and unambiguous wordings of the provisions of the Income-tax Act and Rules and respectfully following the decision of the Special

MONDELEZ INDIA FOODS P.LTD (FORMERLY KNOWN AS CADBURY INDIA LIMITED),MUMBAI vs. ASST CIT RG 5(1)(2), MUMBAI

In the result, appeal filed by the assessee for AY 2013-14 is allowed for statistical purpose

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

section 92C(1) has been restricted within the precinct of the five specific methods. This gathers strength from the fact that even in the Rules, relevant Rule 10B provides with the similar wordings. 68. Taking into account the clear and unambiguous wordings of the provisions of the Income-tax Act and Rules and respectfully following the decision of the Special

ACIT-23(1), MUMBAI, PIRAMAL CHAMBER, MUMBAI vs. PARISHI DIAMONDS, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2012-13 Acit-23(1), Parishi Diamonds, 511, 5Th Floor, Piramal Chamber, Cc2091 To Cc 2093 Tower Central Vs. Lalbaug, Parel, Wings Bharat Diamond Bourse Bandra Mumbai-400012. Kurla Complex, Bandra East, Mumbai-400051. Pan No. Aajfp 2118 B Appellant Respondent

section 92C(1). of the method prescribed under section 92C(1). 38. The assessee's main argument is that due to the trade practice The assessee's main argument is that due to the trade practice The assessee's main argument is that due to the trade practice prevailing in the in the diamond industry separate identity of the diamond

KAYBEE P.LTD,MUMBAI vs. ITO 10(1)(3) (ERSTWHILE JURIDICTIONAL ITO 8(2)(2), MUMBAI

In the result, ground no.6 is allowed for statistical purpose

Bench: Shri R.C. Sharma & Shri Pawan Singhm/S Kaybee Private Limited Ito-10(1)(3) 301, ‘A’ Wing, Solaris-1, Room No. 25 B, Ground Saki Vihar Road, Andheri (E), Vs. Floor, Aayakar Bhavan, Mumbai-400072. Mumbai (Erstwhile Pan: Aaack1715H Jurisdictional Ito-8(2)(2), Mumbai. Appellant Respondent M/S Kaybee Private Limited Ito-10(1)(3) 301, ‘A’ Wing, Solaris-1, Room No. 25 B, Ground Saki Vihar Road, Andheri (E), Vs. Floor, Aayakar Bhavan, Mumbai-400072. Mumbai (Erstwhile Pan: Aaack1715H Jurisdictional Ito-8(2)(2), Mumbai. Appellant Respondent Appellant By : Shri Madhur Agarwal (Advocate) Respondent By : Shri Jayant Kumar With Shri V. Jenerdhanan (Cit-Dr) Date Of Hearing : 28.05.2018 Date Of Pronouncement : 08.08.2018

section 92C(2) of Act. 6. The Ld. CIT (A) grossly erred, in fact and in law, in upholding the disallowance

DEUTSCHE EQUITIES INDIA PVT. LTD.,MUMBAI vs. ADDL.C.I.T. RG. 4(1), MUMBAI

92C(2)", "9(1)(vii)", "194J", "40(a)(ii)" ], "issues": "Disallowance of expenses under Section 14A and Section 40(a)(ia), and transfer

MACROTECH DEVEOPERS LIMITED (SUCESSOR TO SHREENIWAS COTTON MILLS LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX , CENTRAL RANGE-7(3), MUMBAI

In the result appeal of the learned assessing officer and assessee are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm M/S. Macrotech Developers Limited (Successor Of Shreeniwas Cotton Dcit, Cc-7(3) Mills Ltd) 412, 4Th Floor, 17G, Vardhaman Room No. 655, Aayakar Bhavan, Vs. M.K.Road, Mumbai-400 020 Chamber, Cawasji Patel Street, Fort Mumbai-400 001 (Appellant) (Respondent) M/S. Macrotech Developers Limited (Successor Of Shreeniwas Cotton Mills Ltd) Dcit, Cc-7(3) 412, 4Th Floor, 17G, Vardhaman Room No. 655, Aayakar Bhavan, Vs. Chamber, Cawasji Patel Street, M.K.Road, Mumbai-400 020 Fort Mumbai-400 001 (Appellant) (Respondent) Pan No. Aaacl1490J Assessee By : Shri Niraj Sheth Revenue By : Shri Asif Karmali

disallowance based on calculation as per section 14A r.w. Rule 8. 6. Whether on the facts and circumstances of the case and in law, the Learned CIT(A) is erred in directing the AO/TPO by taking ALP of Guarantee Commission at 0.3523% instead of 1.25% thereby allowing relief of ₹ 42,44,426/-. 7.Whether on the facts and circumstances

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. DCIT RG 5(3), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, 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, 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 The Great Eastern Shipping Income-Tax, Co. 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)

disallowance u/s 14A of the Act are allowed with above directions. 034. Ground number 9 of the appeal is with respect to the taxation of the long-term capital gain at the rate of 20% as against the current rate of 10% while passing the assessment order under section 143 (3) read with section 144C

DCIT 5(3)(2), MUMBAI vs. THE GREAT EASTERN SHIPPING CO.LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, 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, 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 The Great Eastern Shipping Income-Tax, Co. 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)

disallowance u/s 14A of the Act are allowed with above directions. 034. Ground number 9 of the appeal is with respect to the taxation of the long-term capital gain at the rate of 20% as against the current rate of 10% while passing the assessment order under section 143 (3) read with section 144C

VODAFONE INDIA LTD,MUMBAI vs. ASST CIT 8(3)(2), MUMBAI

disallowed by the Assessing Officer and the CIT(A). The Id. Counsel for the assessee submitted that Delhi Bench of the Tribunal in the case of Bharat Sanchar Nigam Ltd.(BSNL) reported as 156 ITD 847 (Del-Trib) has held that deduction for telecommunication services is allowable in respect of “profits of eligible business and not restricted to profits derived

DY.CIT 7(1) (1) , MUMBAI vs. M/S. MATTEL TOYS (INDIA) PVT. LTD, MUMBAI

In the result, the appeal of the Revenue is dismissed, whereas,

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2012-13 Dy. Cit, Circle-7(1)(1), M/S Mattel Toys (India) Pvt. Ltd., Room No. 126, 1St Floor, Phoenix House, B-Wing, 4Th Floor, Vs. Aayakar Bhavan, M.K. Road, 462, Senapati Bapat Marg, Lower Mumbai-400020. Parel, Mumbai-400013. Pan No. Aaccm 2563 P Appellant Respondent

disallowance of depreciation on unused plant and machinery of ₹1,73,829/- on unused plant and machinery of -. Further, the Assessing Officer vide order u/s 154 dated 30.03.2017 rectified the Assessing Officer vide order u/s 154 dated 30.03.2017 rectified the Assessing Officer vide order u/s 154 dated 30.03.2017 rectified the stment and added further sum of ₹36,86,308/- transfer

SITEL INDIA LTD,MUMBAI vs. DCIT RG 8(3), MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

disallowed in computing the total income under sub-section (4) of section 92C, then, the amount so added or disallowed

ADDL CIT RG 4(3), MUMBAI vs. MORGAN STANLEY INDIA CO P. LTD, MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 2 Disallowance under section 14A 3 Disallowance of lease line charges, VSAT charges paid to stock exchange and transaction

MORGAN STANLEY INDIA COMPANY P.LTD,MUMBAI vs. ASST CIT RG 4(3), MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 2 Disallowance under section 14A 3 Disallowance of lease line charges, VSAT charges paid to stock exchange and transaction

ACIT 4(3), MUMBAI vs. MORGAN STANLEY INDIA CO. PVT. LTD., MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 2 Disallowance under section 14A 3 Disallowance of lease line charges, VSAT charges paid to stock exchange and transaction