M/S LIFE INSURANCE CORPORATION OF INDIA,MUMBAI-400021 vs. DY COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

Appeal is disposed off as being partly allowed

115Q of the Act and made addition of the aforesaid amount. In first appeal the CIT(A) deleted the addition by following the order of Tribunal in assessee‘s own case in ITA No.2025/Mum/2000 for assessment year 1998-99 dated 18/12/2006, which has been subsequently followed by the Tribunal in assessee‘s own case for assessment years

DY CIT CC-1(4), MUMBAI vs. M/S GRASIM INDUSTRIES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

115Q read with Section 115O of the act determining the deemed distribution of dividend u/s 2 (22) (a) of the act amounting to rupees 24037,37,18,198 being the value of 92,02,66,915 shares at the rate of ₹ 261.20 per share determining the dividend distribution tax payable of ₹ 48,934,440,243 and interest thereon amounting

GRASIM INDUSTRIES LTD.,MUMBAI vs. DY CIT, CENTRAL CIRCLE-1(4), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

115Q read with Section 115O of the act determining the deemed distribution of dividend u/s 2 (22) (a) of the act amounting to rupees 24037,37,18,198 being the value of 92,02,66,915 shares at the rate of ₹ 261.20 per share determining the dividend distribution tax payable of ₹ 48,934,440,243 and interest thereon amounting

CLSA INDIA LTD,MUMBAI vs. ADDL CIT, MUMBAI

In the result, appeal is partly allowed

Bench: Shri Pramod Kumar & Shri Saktijit Dey

68,070. The adjustment proposed by the Transfer Pricing Officer was added to the income of the assessee in the draft assessment order. Though, the assessee objected to the adjustment made to brokerage commission, however, learned DRP agreed with the decision of the Transfer Pricing Officer. 16. The leaned Sr. Counsel for the assessee submitted, the issue is squarely covered