DCIT CIRCLE-1 , THANE vs. M/S EVEREST INDUSTRIES LTD. , DELHI

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115J of the Act, as it defies the basic intention behind introduction of provisions of behind introduction of provisions of section 115JB of the section 115JB of the Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Led. (supra

EVEREST INDUSTRIES LTD,NOIDA vs. DY CIT CIRLCE-1, THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115J of the Act, as it defies the basic intention behind introduction of provisions of behind introduction of provisions of section 115JB of the section 115JB of the Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Led. (supra

EVEREST INDUSTRIES LTD.,NOIDA vs. DY CIT CIRCLE- 1, THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115J of the Act, as it defies the basic intention behind introduction of provisions of behind introduction of provisions of section 115JB of the section 115JB of the Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Led. (supra

DCIT, CIRCLE-1 ,, THANE vs. EVEREST INDUSTRIES LTD., MUMBAI

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115J of the Act, as it defies the basic intention behind introduction of provisions of behind introduction of provisions of section 115JB of the section 115JB of the Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Act. The ITAT Jaipur bench, in case of Shree Cement Led. (supra

DCIT 5(3)(1), MUMBAI vs. M/S SERCO BPO PVT. LTD., MUMBAI

In the result, the appeal filed by the revenue is dismissed and the CO filed by the assessee is dismissed as infructuous

Bench: Shri Om Prakash Kant & Shir Pavan Kumar Gadaledcit – 5(3)(1) Vs. M/S Serco Bpo Pvt Room No. 573, Ltd.(As Successor Of Aayakar Bhavan, Intelnet Global Service Mumbai – 400 020. Pvtltd),Teleperformance Tower, Plot Cst No. 1406-A/28, Mindspace, Goregaon (W), Mumbai -400104. Pan/Gir No. : Aabcv2572L Appellant .. Respondent Co No. 136/Mum/2022 [Arising Out Of 2354/Mum/2022] (A.Y: 2009-10) Teleperformance Global Vs. Dcit – 5(3)(1) Service Pvt Ltd(Earlier Room No. 573, Serco Bpo Pvt Ltd), Aayakar Bhavan, Teleperformance Tower, Mumbai – 400020. Plot Cst No. 1406-A/28, Mindspace, Goregaon(W) Mumbai- 400104. Pan/Gir No. : Aabcv2572L Appellant .. Respondent

115J of the Act. In the light of the aforesaid reasons also, addition of the impugned share premium of Rs. 32,21,48,679, made by the AO to the book profits for the computation of MAT under section 115JB of the Act, is totally erroneous and bad in law. 6.3.2 Further, during the course of appeal proceedings, the appellant

RELIANCE INDUSTRIES LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX CIRCLE-3(4), MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

section 115J, then it should be that income which is acceptable to the authorities under the Companies Act. There cannot be two incomes one for the purpose of Companies Act and another for the purpose of the Income-tax Act both maintained under the same Act. If the Legislature intended the Assessing Officer to reassess

DCIT- 3(4) , MUMBAI vs. M/S RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

section 115J, then it should be that income which is acceptable to the authorities under the Companies Act. There cannot be two incomes one for the purpose of Companies Act and another for the purpose of the Income-tax Act both maintained under the same Act. If the Legislature intended the Assessing Officer to reassess

DCIT-3(4), MUMBAI vs. M/S RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

section 115J, then it should be that income which is acceptable to the authorities under the Companies Act. There cannot be two incomes one for the purpose of Companies Act and another for the purpose of the Income-tax Act both maintained under the same Act. If the Legislature intended the Assessing Officer to reassess

RELIANCE INDUSTRIES LTD.,MUMBAI vs. ACIT CIRCLE 3(4), MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

section 115J, then it should be that income which is acceptable to the authorities under the Companies Act. There cannot be two incomes one for the purpose of Companies Act and another for the purpose of the Income-tax Act both maintained under the same Act. If the Legislature intended the Assessing Officer to reassess

ACC LTD.,MUMBAI vs. DCIT(LTU) - 1, MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

reassessment order of the AO be set aside as bad in law.” 22. Similar issue was considered by us in the Assessee’s Appeal in Ground No 6 for the A.Y. 2007-08 and held as under: - “58. Considered the rival submissions and material placed on record. It is observed that during the year under consideration assessee has sold

ACC LTD.,MUMBAI vs. DCIT(LTU) - 1, MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

reassessment order of the AO be set aside as bad in law.” 22. Similar issue was considered by us in the Assessee’s Appeal in Ground No 6 for the A.Y. 2007-08 and held as under: - “58. Considered the rival submissions and material placed on record. It is observed that during the year under consideration assessee has sold

DCIT(LTU) - 1, MUMBAI vs. ACC LTD., MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

reassessment order of the AO be set aside as bad in law.” 22. Similar issue was considered by us in the Assessee’s Appeal in Ground No 6 for the A.Y. 2007-08 and held as under: - “58. Considered the rival submissions and material placed on record. It is observed that during the year under consideration assessee has sold

DY. COMMISSIONER OF INCOME TAX CIRCLE - 3(3)(1), MUMBAI, MUMBAI vs. RADHA MADHAV INVESTMENTS PRIVATE LIMITED, MUMBAI

In the result the appeal is partly allowed

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.] Explanation. For the removal of doubts, it is hereby clarified that notwith- standing anything to the contrary contained

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

reassessment, if any, relating to any assessment year falling within the period of six assessment years referred to in sub-section (1) is pending on the date of initiation of the search u/s. 132 of the Act shall abate. In the present case before us, however, though the second proviso to sub-section (1) of section 153A would not apply

M/S. PATANJALI FOODS LTD (FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD),MUMBAI vs. DY COMM OF INCOME TAX- CENTRAL CIRCLE-7(2), MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

reassessment, if any, relating to any assessment year falling within the period of six assessment years referred to in sub-section (1) is pending on the date of initiation of the search u/s. 132 of the Act shall abate. In the present case before us, however, though the second proviso to sub-section (1) of section 153A would not apply

DCIT(CC)-8(3) , MUMBAI vs. SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED, MUMBAI

In the result, the cross-objection of the assessee is partly\nallowed, whereas the appeal of the Revenue is dismissed

reassessment\nproceedings, the Assessing Officer applied the computation\nmechanism of section 14A read with Rule 8D(2)(ii) and made a\nfurther adjustment of ₹76.99 crores under clause (f) of Explanation\n1 to section 115JB(2), thereby enhancing the book profits.\n13.2 On appeal, the learned CIT(A) deleted the said adjustment,\nholding that the disallowance computed under section

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

reassessment, if any,\nrelating to any assessment year falling within the period of\nsix assessment years referred to in sub-section (1) is\npending on the date of initiation of the search u/s. 132 of the\nAct shall abate. In the present case before us, however,\nthough the second proviso to sub-section (1) of section\n153A would not apply

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are\npartly allowed and the appeals of the revenue are dismissed

reassessment, if any,\nrelating to any assessment year falling within the period of\nsix assessment years referred to in sub-section (1) is\npending on the date of initiation of the search u/s. 132 of the\nAct shall abate. In the present case before us, however,\nthough the second proviso to sub-section (1) of section\n153A would not apply