STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

68,81,76,553 Total of the above (A) 385,26,81,557 Provision for bad & doubtful debts in books (B) 455,78,00,000 Deduction u/s. 36(1)(viia) - lower of A & B 385,26,81,557 9. The AO recomputed the deduction under section 36(1)(viia) on the ground that – (i) that the assessee while computing

DY. CIT CIRCLE 3(4), MUMBAI, MUMBAI vs. ASIAN PAINTS LTD, MUMBAI

In the result, appeals filed by assessee and Revenue for A

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

35. Before us, ld. Counsel for the assessee submitted that - (i) These expenses in comparison to total expenses (i.e. Rs. 3,636.75 crores) are minuscule, which comes to around only 0.02% of our total expenditure. (ii) That expenses attributable to the earlier years but crystallize in the year under consideration on receipt of M/s. Asian Paints invoice/bills ought

PID P.LTD,MUMBAI vs. ASST CIT CIR 11(1), MUMBAI

In the result the Cross Objection of the assessee is allowed for statical purpose

Bench: Shri B.R.Baskaran & Shri Pawan Singh

68, Vs. Tardeo Road, Mumbai-400034. PAN: AAACP7054Q (Appellant) (Respondent) Assessee by : Shri Rakesh Joshi (AR) Revenue by : Shri Maurya Pratap (DR) Date of hearing : 15.11.2016 Date of Pronouncement : 06.01.2017 Order Under Section 254(1) of Income Tax Act 2 ITA Nos. 7182, 6122/M/2014 & C.O. 23/M/16 M/s. PID Pvt. Ltd. PER PAWAN SINGH, JM: 1. These two appeals

NAVNIDHI STEEL AND ENGG CO. P.LTD,MUMBAI vs. DCIT 5(2)(1), MUMBAI

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh, Assessment Year: 2007-08

68 of the Act. 2.2. On appeal before the Ld. Commissioner of Income Tax (Appeal), the factual matrix was considered and finally the addition made by the Ld. Assessing Officer was affirmed on the ground that the creditworthiness of the parties and the genuineness of the transaction were not satisfactorily explained. 2.3. The assessee is in appeal before this Tribunal

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

35,01,455/- in the normal computation of total income and further same was also added to the computation of book profit under Section 115JB of the Act. iii. Disallowance of depreciation on leased assets of ₹27,31,73,482/- was allowed instead of depreciation claimed by the assessee of ₹7,74,20,633/-. iv. Disallowance of club membership

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed, as indicated above

Bench: Sri Mahavir Singh, Vp & Sri G Manjunatha, Am आयकर अपील सुं./ Ita No. 3644/Mum/2016 (ननर्ाारण वर्ा / Assessment Year 2008-09) State Bank Of India The Dy. Commissioner Of 3Rd Floor, Corporate Centre Income Tax, Circle -2(2)(1) बनाम/ Madam Cama Road Mumbai Vs. Nariman Point Mumbai-400021 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacs8577K

35. The next issue in this appeal of assessee is as regards to the order of CIT(A) confirming the action of AO in disallowing provision for privilege leave encashment. For this assessee raised the following Ground No.3: - “3. Provision for privilege leave encashment of Rs.88,00,00,000 41 | P a g e State Bank of India ITA Nos.3644

BANK OF INDIA,MUMBAI vs. ACIT-2(1)(2), MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

35. Thus, as per the provisions of section 36(1)(viia) of the Act, the provision for bad and doubtful debts account shall include an amount not exceeding 7.5% of the total income and an amount not exceeding 10% of the aggregate average advances made by the rural branches of such bank. As ITA No.1451, 1452, 1547 & 1548/Mum/2023 (A.Ys

ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

35. Thus, as per the provisions of section 36(1)(viia) of the Act, the provision for bad and doubtful debts account shall include an amount not exceeding 7.5% of the total income and an amount not exceeding 10% of the aggregate average advances made by the rural branches of such bank. As ITA No.1451, 1452, 1547 & 1548/Mum/2023 (A.Ys

M/S JR FIBER GLASS INDUSTRIES PVT LTD,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE, MUMBAI

The appeal is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.2848/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2009-10) M/S. Jr Fiber Glass Industries Pvt. Ltd.

section 68 of the Act. Therefore, in view of the foregoing discussion the addition made by the AO on account of receipt of share premium is sustained. The Ground of Appeal No. 2 is dismissed." 5. Aggrieved by the aforesaid action of the Ld. CIT(A), the assessee is before us. 6. We have heard both the parties

ITO 3(3)2, MUMBAI vs. SHAMROCK PHARMACHEMI P.LTD, MUMBAI

In the result appeal of the Revenue in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1774/Mum/2013 (नििाारण वर्ा / Assessment Year: 2009-10) बिाम/ Ito 3(3)2, M/S. Shamrock R.No. 602, Pharmachemi Pvt. Ltd., Aayakar Bhavan, 83E,Hansraj Pragi Bldg., V. M.K Road, Opp. Dr. E Moses Road, Mumbai 400020 Worli, Mumbai-400018 स्थायी ऱेखा सं./ Pan: Aaacs6290H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri. Ashim Kumar Modi (Cit- Dr), Shri V. Justin & Ms. Chaitna Ajaria Shri. Bharat L. Gandhi Assessee By: सुनवाई की तारीख /Date Of Hearing : 01.03.2019 घोषणा की तारीख /Date Of Pronouncement : 30.05.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 1774/Mum/2013, Is Directed Against Appellate Order Dated 29.10.2012, Passed By Learned Commissioner Of Income Tax (Appeals)-7, Mumbai (Hereinafter Called ―The Cit(A)‖) In Appeal Number Cit(A)-7/Ito-3(3)(2)/It-166/11-12, For Assessment Year 2009-10, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 29.12.2011 Passed By Learned Assessing Officer (Hereinafter Called ―The Ao‖) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called ―The Act‖) For Ay 2009-10. I.T.A. No.1774/Mum/2013

68,19,755.00 13. 75% 2009-10 16,93,05,845.00 1,05,30,824.00 6.22% 2010-11 6,00,73,432.00 12,01,469.00 2% I.T.A. No.1774/Mum/2013 The assessee had duly submitted copies of agency agreement/contract and exclusivity agreement pertaining to 4 major overseas agents based in USA & Europe as well copies of ledger account of these agents

THE PREMIER CO-OPERATIVE CREDIT SOCIETY,MUMBAI vs. CIT(A), NFAC, DELHI

In the result, the appeal of the assessee is allowed

Bench: Ms Padmavathy S, Am & Shri Sandeep Singh Karhail, Jm

35,347/- which has been denied in the intimation u/s.143(1)(a). Though as per the provisions of section 80AC, the assessee is denied the deduction u/s.80P it is also important to examine whether the same can be done u/s.143(1)(a). In this regard we will look at the provisions of section 143(1

ILJIN ELECTRIC CO. LTD,MUMBAI vs. DCIT (IT) CIR 2(2)(1), MUMBAI

In the result, appeal for A

Bench: Shri Jason P. Boaz, Accoutant Member & Shri Saktijit Dey

68,12,549 USD one million two hundred fifty nine thousand four hundred 5. Total payable forty five only And Rupees five crore sixty eight lakh twelve thousand five hundred forty nine only 21. Schedule–1(A) specified the goods / equipment to be supplied from abroad; Schedule–1(B) specified the goods / equipments to be supplied from employer‟s country

GATI KINTETSU EXPRESS PRIVATE LIMITED ,MAHARASHTRA AND MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MAHARASHTRA AND MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

ii) advance and loans written off amounting to (ii) advance and loans written off amounting to (ii) advance and loans written off amounting to Rs.35,68,793/-. 13. Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Rs.18

GATI KINTETSU EXPRESS PRIVATE LIMITED,MUMBAI vs. DY.COMMISSIONER OF INCOME , CIRLCE 14(1)(2)TAX, MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

ii) advance and loans written off amounting to (ii) advance and loans written off amounting to (ii) advance and loans written off amounting to Rs.35,68,793/-. 13. Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Rs.18

GATI KINTETSU EXPRESS PRIVATE LIMITED ,MAHARASHTRA AND MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MAHARASHTRA AND MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

ii) advance and loans written off amounting to (ii) advance and loans written off amounting to (ii) advance and loans written off amounting to Rs.35,68,793/-. 13. Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Rs.18

GATI KINTETSU EXPRESS PRIVATE LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

ii) advance and loans written off amounting to (ii) advance and loans written off amounting to (ii) advance and loans written off amounting to Rs.35,68,793/-. 13. Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Before the Assessing Officer it was submitted that sum of Rs.18

DCIT 8(2)(1), MUMBAI vs. SHAMROCK PHARMACHEMI P. LTD., MUMBAI

In the result, both appeals of the revenue are dismissed

Bench: Shri Saktijit Dey & Shri M.Balaganeshita Nos. 862 & 863/Mum/2018 (Assessment Years :2013-14 & 2014-15) Dcit-8(2)(1) Vs. M/S. Shamrock Pharmachemi Room No.624, Pvt.Ltd. Aaykar Bhawan, M.K.Road Off Dr. E Moses Road Mumbai-400 020 Worli, Mumbai-400 025 Pan/Gir No.Aaacs6290H (Appellant) .. (Respondent) Assessee By Shri Bharat Gandhi, Ar Revenue By Shri V.Vinod Kumar, Sr.Ar Date Of Hearing 28/10/2020 Date Of Pronouncement 11/11/2020 आदेश / O R D E R Per M. Balaganesh (A.M): These Two Appeals Filed By Revenue In Ita Nos. 862 & 863/Mum/2018 For Assessment Years (Ay) 2013-14 & 2014-15 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)- 14, Mumbai In Appeals No.Cit(A)-14/It-170/15-16 & Cit(A)-14/It- 119/16-17, Dated 27/11/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 31/08/2016 By The Ld. Deputy Commissioner Of Income Tax-8(2)(1), Mumbai (Hereinafter Referred To As Ld. Ao).

68,19,755.00 13. 75% 2009-10 16,93,05,845.00 1,05,30,824.00 6.22% 2010-11 6,00,73,432.00 12,01,469.00 2%. The assessee had duly submitted copies of agency agreement/contract and exclusivity agreement pertaining to 4 major overseas agents based in USA & Europe as well copies of ledger account of these agents. The four foreign

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE 6(1)(1), MAHARASHTRA

35. Accordingly, we set aside the order of the Ld. CIT(A) on this issue and direct the Assessing Officer to allow the deduction claimed under section 80G amounting to Rs. 92,31,072/-. This ground of appeal is allowed. Additional Grounds 36. Now we deal with additional grounds of appeal raised by the assessee before us. The assessee