M/S. ATUL PROJECTS INDIA PVT LTD.,,MIMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

143(3) of the Act dated 29.12.2016 did not allow the deduction claimed by the assessee under section 80IB(10) for Rs.86,30,612/- for the reason that –  The deduction was not claimed in the original return of income filed under section 139(1) and, therefore, not allowable as per provision of section 80AC;  Certain units are having the built

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

143(3) of the Act dated 29.12.2016 did not allow the deduction claimed by the assessee under section 80IB(10) for Rs.86,30,612/- for the reason that –  The deduction was not claimed in the original return of income filed under section 139(1) and, therefore, not allowable as per provision of section 80AC;  Certain units are having the built

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

143(3) of the Act dated 29.12.2016 did not allow the deduction claimed by the assessee under section 80IB(10) for Rs.86,30,612/- for the reason that –  The deduction was not claimed in the original return of income filed under section 139(1) and, therefore, not allowable as per provision of section 80AC;  Certain units are having the built

GOLDMAN SACHS (INDIA) SECURITIES PVT LTD,MUMBAI vs. ADDL.C.I.T. RG.3(1), MUMBAI

In the result, appeal stands partly allowed

Bench: Shri Saktijit Dey & Shri Ashwani Taneja

143(3) read with section 144C(13) of the Income-tax Act, 1961 ('Act'), the Appellant respectfully submits that the learned A0 erred in passing the order on the following grounds: 1. In making an upward transfer pricing adjustment of Rs. 946,786,679 in determining the arms length pricing (ALP) of the international transactions pertaining to (a) investment advisory

FIRMENICH AROMATICS (INDIA) P. LTD,MUMBAI vs. DCIT 9(3)(1), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

143(3) r/w section 144C(13) of the Income Tax Act, 1961 (for short “the Act”) for the assessment year 2012–13 in pursuance to the directions of the Dispute Resolution Panel (DRP). 2. The assessee has raised five grounds. 3. At the outset, the learned Authorised Representative on the instructions of the assessee did not want to press grounds

ACCENTURE SERVICES P.LTD,MUMBAI vs. ADDL CIT RG 3(1), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

143(3) r/w 144C of the Income Tax Act, 1961 (for short “the Act”) for the assessment year 2008–09, in pursuance to the directions of the Dispute Resolution Panel–I (DRP), Mumbai. 2. Brief facts are, the assessee an Indian Company is a subsidiary of M/s. Beaumont Development Centre Holding Ltd. and part of the Accenture Group. The assessee

UTILITY SUPPLY PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE 8(4) MUMBAI, MUMBAI

In the result, the appeal filed by the Assessee is allowed

143(3) or 147 / 263\netc. is seen and a copy of the relevant order is placed on file and\nensure that the total income assessed under section 153A of the\nI.T. Act is not less than the total income determined in\nproceedings prior to the order under section 153A of the Act.\nThe office note should also give finding

RAMESH JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

143(2), the Assessing Officer called for various details, including the computation of capital gains offered by the assessee. In response, the assessee filed detailed replies and supporting documents on 10 July 2021; 4 February 2022; and 26 March 2022, elaborating the grounds of his claim and the computation issues arising under the Act. After considering the submissions, the Assessing

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. PANKAJ ENTERPRISES, MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

143(3) of the Act on 26/03/2015 on 26/03/2015, the Assessing Officer Assessing Officer held that taxability of the capital gain arises taxability of the capital gain arises in the assessment year 2009 in the assessment year 2009-10. Pankaj Enterprises ITA NO. 3773, 4875 & According to him, under the registered develop According to him, under the registered development agreement

PANKAJ ENTERPRISES,MUMBAI vs. JT CIT RG 25(3), MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

143(3) of the Act on 26/03/2015 on 26/03/2015, the Assessing Officer Assessing Officer held that taxability of the capital gain arises taxability of the capital gain arises in the assessment year 2009 in the assessment year 2009-10. Pankaj Enterprises ITA NO. 3773, 4875 & According to him, under the registered develop According to him, under the registered development agreement

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. PANKAJ ENTERPRISES, MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

143(3) of the Act on 26/03/2015 on 26/03/2015, the Assessing Officer Assessing Officer held that taxability of the capital gain arises taxability of the capital gain arises in the assessment year 2009 in the assessment year 2009-10. Pankaj Enterprises ITA NO. 3773, 4875 & According to him, under the registered develop According to him, under the registered development agreement

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

transferred to some other account. (iv) It means that Bhanwarlal Jain Group companies are providing only accommodation entries and no genuine transactions. In the light of the above facts, the Ld. Assessing Officer treated the amount of Rs.25 lakhs taken as loans/advances as unexplained cash credit u/s 68 of the Act. 2.2. On appeal before the Ld. Commissioner of Income

ACIT CEN CIR 13, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

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

143 (3) read with Section 144C (3) read with Section 144C (4) of the act on 9/file/2013 wherein over and above the transfer pricing adjustment he made the 090. disallowance of additional depreciation of ₹ 28,475,543 with respect to the plant and machinery acquired before 31/3/2008 on which the balance depreciation of 10% was claimed in assessment year

IPCA LABORATORIES LTD,MUMBAI vs. DCIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

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

143 (3) read with Section 144C (3) read with Section 144C (4) of the act on 9/file/2013 wherein over and above the transfer pricing adjustment he made the 090. disallowance of additional depreciation of ₹ 28,475,543 with respect to the plant and machinery acquired before 31/3/2008 on which the balance depreciation of 10% was claimed in assessment year

IPCA LABORATORIES LTD,MUMBAI vs. ACIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

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

143 (3) read with Section 144C (3) read with Section 144C (4) of the act on 9/file/2013 wherein over and above the transfer pricing adjustment he made the 090. disallowance of additional depreciation of ₹ 28,475,543 with respect to the plant and machinery acquired before 31/3/2008 on which the balance depreciation of 10% was claimed in assessment year

IPCA LABORATORIES LTD,MUMBAI vs. ASST CIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

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

143 (3) read with Section 144C (3) read with Section 144C (4) of the act on 9/file/2013 wherein over and above the transfer pricing adjustment he made the 090. disallowance of additional depreciation of ₹ 28,475,543 with respect to the plant and machinery acquired before 31/3/2008 on which the balance depreciation of 10% was claimed in assessment year

IPCA LABORATORIES LTD,MUMBAI vs. DCIT LTU, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

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

143 (3) read with Section 144C (3) read with Section 144C (4) of the act on 9/file/2013 wherein over and above the transfer pricing adjustment he made the 090. disallowance of additional depreciation of ₹ 28,475,543 with respect to the plant and machinery acquired before 31/3/2008 on which the balance depreciation of 10% was claimed in assessment year

ASST CIT (LTU) 1, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

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

143 (3) read with Section 144C (3) read with Section 144C (4) of the act on 9/file/2013 wherein over and above the transfer pricing adjustment he made the 090. disallowance of additional depreciation of ₹ 28,475,543 with respect to the plant and machinery acquired before 31/3/2008 on which the balance depreciation of 10% was claimed in assessment year