DCIT IT 3 3 2 MUMBAI, MUMBAI vs. PRAMARICA ASPF II CYPRUS HOLDING LTD, CTPRUS

The appeal of the revenue is dismissed

Bench: Shri Saktijit Dey & Ms Padmavathy S, Am

reassessment the AO held that the assessee is not the beneficial owner of the interest income and is only a conduit entity to avail the beneficial tax rate under the treaty. Therefore the AO held that the interest income is to be taxed at 20% as per section 115A

DEPUTY COMMISSIONER OF INCOME TAX(IT)-2(1)-2, MUMBAI, MUMBAI vs. DZ BANK INDIA REPRESENTATIVE OFFICE, MUMBAI

In the result, the appeals by the Revenue and the cross-objections by the assessee are dismissed

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhail

reassessment was subjective and open to interpretation, whereas the facts are different and heads of income have been confirmed by the ITAT and only the rate of taxability has been altered based on beneficial provisions of India- Germany DTAA.” 3. The only dispute raised by the Revenue, in its appeals, is against the deletion of the penalty levied under section

DEPUTY COMMISSIONER OF INCOME TAX(IT)-2(1)-2, MUMBAI, MUMBAI vs. DZ BANK INDIA REPRESENTATIVE OFFICE, MUMBAI

In the result, the appeals by the Revenue and the cross-objections by the assessee are dismissed

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhail

reassessment was subjective and open to interpretation, whereas the facts are different and heads of income have been confirmed by the ITAT and only the rate of taxability has been altered based on beneficial provisions of India- Germany DTAA.” 3. The only dispute raised by the Revenue, in its appeals, is against the deletion of the penalty levied under section

DEPUTY COMMISSIONER OF INCOME TAX(IT)-2(1)-2, MUMBAI, MUMBAI vs. DZ BANK INDIA REPRESENTATIVE OFFICE, MUMBAI

In the result, the appeals by the Revenue and the cross-objections by the assessee are dismissed

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhail

reassessment was subjective and open to interpretation, whereas the facts are different and heads of income have been confirmed by the ITAT and only the rate of taxability has been altered based on beneficial provisions of India- Germany DTAA.” 3. The only dispute raised by the Revenue, in its appeals, is against the deletion of the penalty levied under section

DEPUTY COMMISSIONER OF INCOME TAX(IT)-2(1)-2, MUMBAI, MUMBAI vs. DZ BANK INDIA REPRESENTATIVE OFFICE, MUMBAI

In the result, the appeals by the Revenue and the cross-objections by the assessee are dismissed

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhail

reassessment was subjective and open to interpretation, whereas the facts are different and heads of income have been confirmed by the ITAT and only the rate of taxability has been altered based on beneficial provisions of India- Germany DTAA.” 3. The only dispute raised by the Revenue, in its appeals, is against the deletion of the penalty levied under section

GENERAL MOTORS OVERSEAS CORPORATION,GURGAON vs. DDIT (IT) 3(1), MUMBAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Laliet Kumar & Shri M. Balaganesha.Y : 2004-05 :

115A of the Income Tax Act, whereas a domestic company doing exactly the same works contract would be taxed @ 2% under section 194C of the Act and also would be subject to tax on its net profits without the application of section 44D. If the case of the assessee is carefully seen, then the tax that has been levied

GENERAL MOTORS OVERSEAS CORPORATION vs. ACIT (IT) 3(1), MUMBAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Laliet Kumar & Shri M. Balaganesha.Y : 2004-05 :

115A of the Income Tax Act, whereas a domestic company doing exactly the same works contract would be taxed @ 2% under section 194C of the Act and also would be subject to tax on its net profits without the application of section 44D. If the case of the assessee is carefully seen, then the tax that has been levied

GENERAL MOTORS OVERSEAS CORPORATION,MUMBAI vs. DEPUTY DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) 3(1), MUMBAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Laliet Kumar & Shri M. Balaganesha.Y : 2004-05 :

115A of the Income Tax Act, whereas a domestic company doing exactly the same works contract would be taxed @ 2% under section 194C of the Act and also would be subject to tax on its net profits without the application of section 44D. If the case of the assessee is carefully seen, then the tax that has been levied

GENERAL MOTORS OVERSEAS CORPORATION,GURGAON vs. DDIT (IT) 3(1), MUMBAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Laliet Kumar & Shri M. Balaganesha.Y : 2004-05 :

115A of the Income Tax Act, whereas a domestic company doing exactly the same works contract would be taxed @ 2% under section 194C of the Act and also would be subject to tax on its net profits without the application of section 44D. If the case of the assessee is carefully seen, then the tax that has been levied

ACIT(IT)-4(3)(2),MUMBAI, MUMBAI vs. WELLS FARGO BANK NATIONAL ASSOCIATION,MUMBAI, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Saktijit Dey, Hon'Ble & Shri Girish Agrawal

reassessment proceedings, Revenue has raised up the issue on the relief so granted by ld. CIT(A). 5.1. In our considered view, ld. CIT(A) has rightly dealt with the issue and has held it to be infructuous since it was already settled in favour of the assessee while adjudicating on appeal against the original

NGC NETWORK ASIA LLC,MUMBAI vs. DCIT (IT) RG 3(3)(1), MUMBAI

In the result, all the appeals are allowed in the terms indicated above

reassessment proceedings is time barred under proviso to Section 147 of the Act in the absence of failure on the part of the Appellant to fully and truly disclose all material facts, as the same has been initiated after the expiry of four years from the end of relevant AY and scrutiny assessment proceedings for subject AY has been completed

NGC NETWORK ASIA LLC,MUMBAI vs. DCIT (IT) RG 3(3)(1), MUMBAI

In the result, all the appeals are allowed in the terms indicated above

reassessment proceedings is time barred under proviso to Section 147 of the Act in the absence of failure on the part of the Appellant to fully and truly disclose all material facts, as the same has been initiated after the expiry of four years from the end of relevant AY and scrutiny assessment proceedings for subject AY has been completed

NGC NEWORK ASIA LLC,MUMBAI vs. DCIT (IT) RG 3(3)(1), MUMBAI

In the result, all the appeals are allowed in the terms indicated above

reassessment proceedings is time barred under proviso to Section 147 of the Act in the absence of failure on the part of the Appellant to fully and truly disclose all material facts, as the same has been initiated after the expiry of four years from the end of relevant AY and scrutiny assessment proceedings for subject AY has been completed

NGC NETWORK ASIA LLC,MUMBAI vs. DDIT (IT) RG 4(2), MUMBAI

In the result, all the appeals are allowed in the terms indicated above

reassessment proceedings is time barred under proviso to Section 147 of the Act in the absence of failure on the part of the Appellant to fully and truly disclose all material facts, as the same has been initiated after the expiry of four years from the end of relevant AY and scrutiny assessment proceedings for subject AY has been completed

SGL ENTERTAINMENT LTD,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

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

Bench: Shri Amit Shukla & Shri Ashwani Taneja

115A and examine the contention of the assessee that tax rate of 10.45% and 20.91% should be applied. 27. Likewise, disallowance of interest expense as raised vide ground no.10 should also be deleted, because it stands already disallowed by the assessee while computing PSM profit. Thus, such disallowance made by the AO in the computation of income, as incorporated above

SATELLITE TELEVISION ASIAN REGION LTD,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

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

Bench: Shri Amit Shukla & Shri Ashwani Taneja

115A and examine the contention of the assessee that tax rate of 10.45% and 20.91% should be applied. 27. Likewise, disallowance of interest expense as raised vide ground no.10 should also be deleted, because it stands already disallowed by the assessee while computing PSM profit. Thus, such disallowance made by the AO in the computation of income, as incorporated above

WORLD SPORT GROUP (MAURITIUS) LTD,MUMBAI vs. DCIT (IT) 4(3)(2), MUMBAI

In the result, appeal of the assessee is allowed

section 115A of the Act. 9. Based on the facts and circumstances of the case and in law, the AO has erred in not categorically stating in the final order that the reassessment

CELESTIAL VISION LIMITED,BVI vs. ASSISSTANT COMMISSIONER OF INCOME TAX INT TAX CIRCLE 2(1)(1), MUMBAI

Appeal is allowed for statistical purposes

Bench: Smt. Beena Pillai & Smt. Renu Jauhriआयकर अपील सं./Ita No.1625/Mum/2025 (निर्धारण वर्ा/Assessment Year: 2022-23) Celestial Vision V/S. Assistant Commissioner Of Limited बिधम Income Tax Circle 2(1)(1) Po Box No. 146, Road 604, Kautilya Bhawan, G Block, Town, Tortola, British Bandra Kurla Complex, Bandra Virgin Islands (East)400051. 111000. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No: Aaicc1160A Appellant/अपीलधथी .. Respondent/प्रनिवधदी निर्धाररिी की ओर से /Assessee By: Shri. Vipul J. Shah-Adv. रधजस्व की ओर से /Revenue By: Shri Krishna Kumar Sr Dr सुिवधई की िधरीख / Date Of Hearing 05.08.2025 घोर्णध की िधरीख/Date Of Pronouncement 24.09.2025

115A r.w.s. 91 of the Act as there is no Double Taxation Avoidance Agreement (DIAA) with the BVI of which assessee in a tax resident. 4. The assessee filed objections before the DRP which are reproduced below: “1. On the facts and circumstances of the case and in law, the learned Assessing Officer erred in treating the Charter Hire Charges