LARSEN & TOUBRO INFOTECH LTD,MUMBAI vs. THE PRINCIPAL COMMISSIONER OF INCOMNE TAX-2, MUMBAI

In the result, appeal of the assessee is allowed, as above

Bench: Shri G.S. Pannu & Shri C.N. Prasad: A.Y : 2006-07

reassessment proceedings, which was reopened on the issue of exemption u/s 10A of the Act, the Assessing Officer had called for details and made inquiries and thereafter varied the assessee’s claim of exemption u/s 10A of the Act. 7 Larsen & Toubro Infotech Ltd. Thus, admittedly Assessing Officer has arrived at a particular conclusion which is now sought

ITO WD 20(3)(1), MUMBAI vs. UNNOSOURCE CORPORATION, MUMBAI

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

section 10A of the Act. It is a matter of record that the said reassessment orders for assessment years 2005-06 to 2008-09 dated

ITO WD 20(3)(1), MUMBAI vs. UNNOSOURCE CORPORATION, MUMBAI

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

section 10A of the Act. It is a matter of record that the said reassessment orders for assessment years 2005-06 to 2008-09 dated

ITO WD 20(3)(1), MUMBAI vs. UNNOSOURCE CORPORATION, MUMBAI

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

section 10A of the Act. It is a matter of record that the said reassessment orders for assessment years 2005-06 to 2008-09 dated

ITO WD 20(3)(1), MUMBAI vs. UNNOSOURCE CORPORATION, MUMBAI

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

section 10A of the Act. It is a matter of record that the said reassessment orders for assessment years 2005-06 to 2008-09 dated

ECHJAY INDUSTRIES P.LTD,MUMBAI vs. ASST CIT CEN CIR 45, MUMBAI

Appeals are allowed

Bench: : Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm Assessment Year :2006-07) Assessment Year :2010-11) Assessment Year :2011-12) Assessment Year :2012-13) Assessment Year :2013-14) Assessment Year :2014-15) Assessment Year :2010-11) & Assessment Year :2012-13) M/S. Echjay Industries Pvt. Ltd. M/S. Echjay Industries Pvt. Vs. Asst. Commissioner Of Ltd., Income Tax, Central Circle- 83, Bajaj Bhavan 45,/Dy.Commissioner Of Nariman Point Income Tax-Circle 8(2) Mumbai – 400 023 Mumbai, Aayakar Bhavan Mumbai – 400 020 Pan/Gir No. : Aaace1157B (Appellant) .. (Respondent)

reassessment is quashed, the adjudication of the various additions made on merits becomes academic in nature and we refrain to give our opinion on the same. Accordingly the grounds raised by the assessee on the validity of reopening are allowed. M/s. Echjay Industries Pvt. Ltd. 3. ADDITION MADE TOWARDS VALUATION OF CLOSING STOCK OF WORK IN PROGRESS AND FINISHED GOODS

SIEMENS TECHNOLOGY AND SERVICES P.LTD,MUMBAI vs. CIT 7, MUMBAI

In the result assessee’s appeals for the Assessment Years 2003-04 and 2005-06 are partly allowed for statistical purposes

Bench: Shri G.S. Pannu & Shri C.N. Prasadsiemens Information Systems V. Assistant Commissioner Of Income- Limited Tax, 130, Pandurang Budhkar Marg, 7(2), Aaykar Bhavan, M.K.Raod Worli, Mumbai 400 020 Mumbai 400 018 Pan : Aaacs 9788 E (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent)

section 10A, as amended, is a provision for deduction, the stage of deduction would be while computing the gross total income of the eligible undertaking under Chapter IV of the Act and not at the stage of computation of the total income under Chapter VI. Decision of the Karnataka High Court in CIT v. YOKOGAWA India

SIEMENS INFORMATION SYSTEMS LTD,MUMBAI vs. ADDL CIT 7(2), MUMBAI

In the result assessee’s appeals for the Assessment Years 2003-04 and 2005-06 are partly allowed for statistical purposes

Bench: Shri G.S. Pannu & Shri C.N. Prasadsiemens Information Systems V. Assistant Commissioner Of Income- Limited Tax, 130, Pandurang Budhkar Marg, 7(2), Aaykar Bhavan, M.K.Raod Worli, Mumbai 400 020 Mumbai 400 018 Pan : Aaacs 9788 E (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent)

section 10A, as amended, is a provision for deduction, the stage of deduction would be while computing the gross total income of the eligible undertaking under Chapter IV of the Act and not at the stage of computation of the total income under Chapter VI. Decision of the Karnataka High Court in CIT v. YOKOGAWA India

BLUE STAR INFOTECH LTD,MUMBAI vs. DCIT CIR 6(1), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Shamim Yahya & Shri Pawan Singhm/S Blue Star Infotech Ltd. Dcit Circle-6(1), 8Th Floor, The Great Oasis, Plot No. Mumbai. D-13, Midc, Andheri (East), Vs. Mumbai-400093. Pan: Aaacb6385J (Appellant) (Respondent)

reassessment order under section 143(3) r.w.s. 147 is valid under the law. 3. The ld. CIT(A) erred in law and denying the set-off of losses of 10A

LARSEN & TOURBRO INFOTECH LTD,MUMBAI vs. ASST CIT 2(2)(1), MUMBAI

In the result, appeal of the assessee for A

Section 147, ergo, the limitation and the condition provided therein has to be satisfied, whether AO has assumed valid jurisdiction or not. The case of the AO is that, the issue of escapement is established in the A.Y 2009-10 when the fact came to light that the assessee is not eligible for deduction u/s 10A to the extent

LARSEN & TOUBRO INFOTECH LTD.,MUMBAI vs. DCIT-2(2)(1), MUMBAI

In the result, appeal of the assessee for A

Section 147, ergo, the limitation and the condition provided therein has to be satisfied, whether AO has assumed valid jurisdiction or not. The case of the AO is that, the issue of escapement is established in the A.Y 2009-10 when the fact came to light that the assessee is not eligible for deduction u/s 10A to the extent

DCIT(CC)-8(3), MUMBAI vs. 63 MOONS TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

reassessment proceedings have been initiated after a period of four years from the end of the relevant assessment years and thus, conditions prescribed under the first proviso to section 147 squarely applies in this case. There are two conditions which are to be met as per the first proviso to section 147, first, the original assessment u/s. 143(3) ought

DCIT(CC)-8(3), MUMBAI vs. 63 MOONS TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

reassessment proceedings have been initiated after a period of four years from the end of the relevant assessment years and thus, conditions prescribed under the first proviso to section 147 squarely applies in this case. There are two conditions which are to be met as per the first proviso to section 147, first, the original assessment u/s. 143(3) ought

DCIT(CC)-8(3), MUMBAI vs. 63 MOONS TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

reassessment proceedings have been initiated after a period of four years from the end of the relevant assessment years and thus, conditions prescribed under the first proviso to section 147 squarely applies in this case. There are two conditions which are to be met as per the first proviso to section 147, first, the original assessment u/s. 143(3) ought

DCIT 15(3)(1), MUMBAI vs. ROAMWARE (INDIA) P.LTD, MUMBAI

In the result appeal of the Revenue and CO by the assessee both are

Bench: Shri R.C. Sharma(Am) & Shri Sandeep Gosain (Jm) Assessment Year: 2007-08

reassessment proceeding were initiated by issuance of notice under section 148 dt. 29/03/2012 after recording reasons for reopening of the assessment and after serving statutory notices and seeking reply of the assessee, AO passed order of assessment under section 143(3)(ii)r.w.s 147 of the Income tax Act, 1961 on 28/03/2013 and accordingly

DCIT 3(2)(1), MUMBAI vs. JEWELEX INDIA P LTD, MUMBAI

In the result, the cross objections filed by the assessee are hereby allowed whereas the appeal of the Revenue is hereby dismissed

Bench: Shri D. Karunakara Rao & Shri Sanjay Gargassessment Year: 2008-09 Dy. Commissioner Of Income M/S. Jewelex India Pvt. Ltd., Tax, - 3(2)(1), 401, Trade Centre, R.No.674, 6Th Floor, Vs. Bandra Kurla Complex, Aayakar Bhavan, Bandra (East), M.K. Road, Mumbai – 400 051 Mumbai - 400020 Pan: Aabcj4523H (Appellant) (Respondent) Co No.81/M/2016 (Arising Out Of Ita No.7240/M/2014) Assessment Year: 2008-09 M/S. Jewelex India Pvt. Ltd., Dy. Commissioner Of Income 401, Trade Centre, Tax, - 3(2)(1), R.No.674, 6Th Floor, Bandra Kurla Complex, Vs. Bandra (East), Aayakar Bhavan, Mumbai – 400 051 M.K. Road, Pan: Aabcj4523H Mumbai - 400020 (Appellant) (Respondent)

10A or Section 10B applied will also be subjected to the provisions of MAT. The assessee had also relied on the 3 ITA No.7240/M/2014 & CO No.81/M/2016 M/s. Jewelex India Pvt. Ltd. decision of ITAT in the case of “Genesys International Corporation Ltd. v. ACIT” in ITA Nos.6903/M/2011 and 609/M/2012. However, the A.O. held that the facts of the assessee

TCS-E-SERVE LTD ( EARLIER KNOWN AS E-SEREVE INTERNAIONTAL LTD),MUMBAI vs. DCIT RG 9(1), MUMBAI

Appeal stand dismissed since the only issue in revenue’s appeal is deduction u/s 10A

Bench: Hon’Ble Shri Saktijit Dey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) 1. आयकरअपील सं./ I.T.A. No.5089/Mum/2010 (धििाारण वर्ा / Assessment Year: 2003-04) & 2. आयकरअपील सं./ I.T.A. No.5090/Mum/2010 (धििाारण वर्ा / Assessment Year: 2004-05) Tata Consultancy Services Limited Dcit- 9(1) / 9(3) (Upon Merger Of Tcs E-Serve Ltd Aaykar Bhawan बिाम With Tata Consultancy Services Ltd) M.K.Road / Vs. 9Th Floor, Nirmal Building Mumbai-400 020 Nariman Point, Mumbai-400 021 स्थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacc-4480-F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & 3. आयकरअपील सं./ I.T.A. No.4928/Mum/2010 (धििाारण वर्ा / Assessment Year: 2003-04) & 4. आयकरअपील सं./ I.T.A. No.4929/Mum/2010 (धििाारण वर्ा / Assessment Year: 2004-05) & 5. आयकरअपील सं./ I.T.A. No.5478/Mum/2014 (धििाारण वर्ा / Assessment Year: 2010-11) & 6. आयकरअपील सं./ I.T.A. No.7446/Mum/2010 (धििाारण वर्ा / Assessment Year: 2003-04) & 7. आयकरअपील सं./ I.T.A. No.7447/Mum/2010 (धििाारण वर्ा / Assessment Year: 2004-05) Acit, Range-9(3) / Circle-9(3) Tata Consultancy Services Limited Aaykar Bhawan, M.K.Road (Upon Merger Of Tcs E-Serve Ltd बिाम Mumbai-400 020 With Tata Consultancy Services Ltd) / Vs. 9Th Floor, Nirmal Building Nariman Point, Mumbai-400 021 स्थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacc-4480-F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

10A on the ground that these units were formed by reconstruction / splitting-up of existing business. Accordingly, the deduction was denied to the assessee. However, this reassessment proceedings were quashed by Tribunal in ITA No.3725/Mum/2010 order dated 24/01/2018 (para 8 & 9). This issue again came up for challenge before Tribunal by the revenue for AY 2002-03, ITA No.3927/Mum/2010 order

DCIT 1(2)(1), MUMBAI vs. INTELNET GLOBAL SERVICES P. LTD, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2007-08 Dcit-1(2)(1), M/S Intelnet Global Services R. No.535, 5Th Floor, Pvt. Ltd. Intelnet Towers, बनाम/ Aayakar Bhavan, Mindspace, Malad West, Vs. M. K. Road, Mumbai-400064 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aaaci7387P C.O. No.99/Mum/2016 (Arising Out Of Ita No.7428/Mum/2014) Assessment Year: 2007-08 M/S Intelnet Global Services Dcit-1(2)(1), Pvt. Ltd. Intelnet Towers, R. No.535, 5Th Floor, बनाम/ Mindspace, Malad West, Aayakar Bhavan, Vs. Mumbai-400064 M. K. Road, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aaaci7387P

10A of the Act, which says that effect is to be given at the stage of computing profit and gains of business at first instance i.e. anterior to application of provisions of section 72, which deals with carry forward and set off of business losses, whereas, the issue before us is with respect to justification of reopening of assessment within

DCIT 2 (3), MUMBAI vs. TECH MAHINDRA P.LTD, MUMBAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy () & Shri N.K. Pradhan () Assessment Year: 2007-05

section 10A deduction has been claimed by the assessee on profits before exceptional items, further exceptional items are the subject upfront discount, (v) the AO has considered the submissions made by the assessee during the course of assessment proceedings, and also applied his mind to the computation of deduction and after certain adjustments (i.e. M/s Tech Mahindra