THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

section under which ESOP expenditure is allowable under the Income Tax Act 1961 ('Act). The only provision where a company can claim the expenditure is section 37 of the ActHence, it is pertinent to test the conditions mentioned in section 37 in order to conclude whether the expenditure is allowable? Section 37 of the Act Page

TATA INTERNATIONAL LTD,MUMBAI vs. DCIT RG 14(3)1), MUMBAI

In the result, the ground no

Bench: Shri Anikesh Banerjee & Miss Padmavathy S.

penalty u/s 271(l)(c) of the Income Tax Act as all the facts and details were disclosed in return of Income and its annexure and Report under Section 92E

TATA INTERNATIONAL LTD,MUMBAI vs. ADDL CIT 7(3), MUMBAI

penalty u/s. 271(1)(c) & 271G of the Income Tax\nAct as all the facts and details were disclosed in return of Income and its annexures\nand Report under Section 92E

ITP PUBLISHING INDIA PVT LTD,MUMBAI vs. ACIT 12 (2)(2), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Amit Shukla & Shri Gagan Goyalm/S Itp Publishing India Pvt. Ltd. Norton Plaza, 3Rd Floor, 898, Turner Road, Bandra (W), Mumbai-400050. Pan: Aabci8454Q ...... Appellant Vs. Acit-12(2)(2), Room No. 109, Aayakar Bhavan, M.K. Road, Churchgate, Mumbai-400020. ..... Respondent Appellant By : Sh. Dharan Gandhi, Adv. Respondent By : Sh. Soumendu Kumar Dash, Sr. Dr Date Of Hearing : 30/11/2022 Date Of Pronouncement : 13/01/2023

penalty proceedings u/s. 271(1)(c) of the Act.” 2. Brief facts of the case are that the assessee is a company in the business of magazine publishing and event management. The return of income was filed on 29-11-2013 declaring NIL income under the normal provisions of the act and Rs. 61, 91,743/- as book profit u/s