DCIT 4(3), MUMBAI vs. JM MORGAN STANLEY SECURITIES 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

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

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

MORGAN STANLEY INDIA COMPANY P.LTD,MUMBAI vs. ADDL 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

DCIT CIR. 4(3)(2), 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

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

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

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

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

DCIT 8(2)(2), MUMBAI vs. SONATA SOFTWARE LTD, MUMBAI

In the result, appeal filed by the Revenue is dismissed and In the result, appeal filed by the Revenue is dismissed and appeal by the Assessee appeal by the Assessee is allowed

Bench: Shri Shamim Yahya, Hon’Ble & Shri Pawan Singh, Hon’Ble] I.T.A. No. 594/Mum/2017 Assessment Year: 2010-11 Dcit 8(2)(2), Mumbai……...........…...…………..….....................................................................Appellant Room No. 348, M.K. Road, Mumbai – 400 020. Vs. M/S. Sonata Software Ltd……………….......…..…………………....….......................................Respondent 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai – 400 030. [Pan: Aabcs 8459 D

section 92C(2) the price at which the C(2) the price at which the international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed to be the arm’s length price. ength price. This is so because

SONATA SOFTWARE LIMITED,MUMBAI vs. DCIT RANGE - 7(2) PRESENTLY ASSESSED WITH DCIT 8(2)(2), MUMBAI

In the result, appeal filed by the Revenue is dismissed and In the result, appeal filed by the Revenue is dismissed and appeal by the Assessee appeal by the Assessee is allowed

Bench: Shri Shamim Yahya, Hon’Ble & Shri Pawan Singh, Hon’Ble] I.T.A. No. 594/Mum/2017 Assessment Year: 2010-11 Dcit 8(2)(2), Mumbai……...........…...…………..….....................................................................Appellant Room No. 348, M.K. Road, Mumbai – 400 020. Vs. M/S. Sonata Software Ltd……………….......…..…………………....….......................................Respondent 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai – 400 030. [Pan: Aabcs 8459 D

section 92C(2) the price at which the C(2) the price at which the international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed to be the arm’s length price. ength price. This is so because

DCIT 4(1), MUMBAI vs. DEUTSCHE EQUITIES INDIA P.LTD, MUMBAI

Bench: SHRI B.R. BASKARAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

2. On the facts and in the circumstances of the case and in law, the Ld.CIT(A)) erred in allowing the disallowance being benefit of variation / reduction of 5% from the arithmetic CO No. 227/Mum/2012 (Assessment Year: 2005-06) mean as per provisions of section 92C

HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P. LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

2,58,839/- on account of non-deduction of TDS under section 40a(ia) of the Act. AO further disallowed Rs. 27, 16, 560/- under section 14A. Against this draft order of AO, assessee objected the same before the DRP through Form No. 35A. 7. DRP vide its order under section 144C (13) sustained the draft order

HSBC SECURITIES AND CAPITAL MARKETS (I) P.LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

2,58,839/- on account of non-deduction of TDS under section 40a(ia) of the Act. AO further disallowed Rs. 27, 16, 560/- under section 14A. Against this draft order of AO, assessee objected the same before the DRP through Form No. 35A. 7. DRP vide its order under section 144C (13) sustained the draft order

DCIT 4(1), MUMBAI vs. HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P.LTD, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

2,58,839/- on account of non-deduction of TDS under section 40a(ia) of the Act. AO further disallowed Rs. 27, 16, 560/- under section 14A. Against this draft order of AO, assessee objected the same before the DRP through Form No. 35A. 7. DRP vide its order under section 144C (13) sustained the draft order

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

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

2)to the Indian Income Tax Act,1922,could be made in this regard-as it was a somewhat similar section and dealt with the trans-border transactions. The provisions of the said section broadly provided that where a nonresident carried out business with the person resident in the taxable territory and it appeared to the AO that on account