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 133(6) on sample basis amounting to circa 40% of the total expenditure claimed by the assessee and based on the response recomputed the disallowance towards commission paid to those parties. We further notice that for the rest of the parties considering the difficulty in examining the data, the AO has applied 10% as adhoc disallowance

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 133(6) on sample basis amounting to circa 40% of the total expenditure claimed by the assessee and based on the response recomputed the disallowance towards commission paid to those parties. We further notice that for the rest of the parties considering the difficulty in examining the data, the AO has applied 10% as adhoc disallowance

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 133(6) on sample basis amounting to circa 40% of the total expenditure claimed by the assessee and based on the response recomputed the disallowance towards commission paid to those parties. We further notice that for the rest of the parties considering the difficulty in examining the data, the AO has applied 10% as adhoc disallowance

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 ()

95,654 – ₹10,99,16,196) was accordingly disallowed on a proportionate basis 10,99,16,196) was accordingly disallowed on a proportionate basis 10,99,16,196) was accordingly disallowed on a proportionate basis in the ratio of average investments to average total assets, which in the ratio of average investments to average total assets, which in the ratio

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

disallowance\nunder section 14A of the Act.\n(iii) Without prejudice to ground no.1 the appellant prays that investments\ncapable of yielding taxable income ought to be excluded while computing the\ndisallowance under section 14A of the Act.\niv) Without prejudice to ground no.1 the appellant prays that amount of\ndisallowance under section 14A of the Act ought

ACIT, MUMBAI vs. K RAHEJA CORP PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2020-21

disallowance of Rs. 1,45,32,176 under Section 14A r.w. Rule 8D, considering only Rs. 1,45,32,176 under Section 14A r.w. Rule 8D, considering only Rs. 1,45,32,176 under Section 14A r.w. Rule 8D, considering only investments from which exempt income was actually earned. The details of investments from which exempt income was actually earned

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. ()

disallowance being considered for computing book profit under section 115JB, the CIT(A) held that the same could not be made following various judicial precedence. 7. The Ld.AR submitted the below workings to submit that the own funds of the assessee is more than the investments made in tax free income earning investments. Own Funds workings (Rs in lakhs) Particulars

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. ()

disallowance being considered for computing book profit under section 115JB, the CIT(A) held that the same could not be made following various judicial precedence. 7. The Ld.AR submitted the below workings to submit that the own funds of the assessee is more than the investments made in tax free income earning investments. Own Funds workings (Rs in lakhs) Particulars

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

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. 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

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

disallowance of INR 30,95,03,786/- under Section 40(a)(ia) of the Act (as against the disallowance of INR 1,97,54,77,395/- proposed

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] &

95,11,354.00 as broken period interest on purchase of securities during the previous year relevant to the assessment year 1998-99. 6. After hearing the assessee and considering its objection, assessing officer vide the assessment order dated 19-3-2002 passed under section 143(3) of the Act held that claim of the assessee was required to be disallowed

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

disallowance\nunder section 14A of the Act.\n(iii) Without prejudice to ground no.1 the appellant prays that investments\ncapable of yielding taxable income ought to be excluded while computing the\ndisallowance under section 14A of the Act.\niv) Without prejudice to ground no.1 the appellant prays that amount of\ndisallowance under section 14A of the Act ought

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

Section 14A of the Act read with Rule 8D of the Income Tax Rules, 1962 (hereinafter referred to as ‘the Rules’) (b) addition of INR 226,48,84,020/- on account of disallowance of ESOP Expenses and (c) addition of INR 63,88,46,299/- on account of disallowance of excess claim of bad debts. 4. Being aggrieved, the Assessee

HDFC BANK LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX-2(3)(1), MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

disallowance under section 14A r.w.r. 8D(2)(ii) and also 8D(2)(iii) as per the below table: Description Amount as per Addition Rule 8D(2) (i) the amount of expenditure directly Nil Nil relating Nil to income which does not form part of total income; (ii) (ii) in a case where the assessee has incurred expenditure

DCIT 2(3)(1), MUMBAI vs. HDFC BANK LIMITED , MUMBAI

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

disallowance under section 14A r.w.r. 8D(2)(ii) and also 8D(2)(iii) as per the below table: Description Amount as per Addition Rule 8D(2) (i) the amount of expenditure directly Nil Nil relating Nil to income which does not form part of total income; (ii) (ii) in a case where the assessee has incurred expenditure