ACIT-3(4), MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed whereas the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2016-17 Reliance Industries Ltd., Dy. Cit Circle 3(4), 3Rd Floor, Maker Chamber Iv 222 Room No. 559, Aayakar Bhavan, Nariman Point, Vs. Maharshi Karve Road, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent Assessment Year: 2016-17 Acit-3(4), Reliance Industries Ltd., Room No. 481(2), 4Th Floor, 3Rd Floor, Maker Chamber Iv Aayakar Bhavan, N.M. Road, Vs. Nariman Point, New Marine Lines, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent

144C of the Act was completed on 25.03.2019, wherein the total income was assessed at Rs.16797,17,09,934/- under normal provisions of the Act and book profit at Rs.37412,87,67,520/- u/s 115JB of the Act. Along with the assessment order, the Assessing Officer initiated penalty u/s 271(1)(c) of the Act in respect of various additions

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

Accordingly.\n7. To sum-up, these Revenue's twin appeals ITA.Nos.1875 & 1872/Mum./2024 and assessee's cross objections C.O.Nos.88 & 89/MUM./2024 are dismissed in above terms

u/s 143(3) r.w.s. 144C(3) of the Act was completed vide order dated 28.02.2017 determining taxable income at Rs. 19223,66,55, 142/-after deduction under Chapter VIA and Book profit under section 115JB of the Act was computed at Rs. 26485,46, 16,823/-.\n3.4 Aggrieved by the scrutiny assessment order, the Appellant filed appeal before

GENERAL ELECTRIC INTERNATIONAL INC.,GURGAON vs. DCIT, INTERNATIONAL TAXATION CIRCLE 2(3)(2), MUMBAI

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

144C(3) of Act is void ab initio, at nullity and bad in law. 3. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in confirming the action of the Learned Assessing Officer ('Ld. AO') in levying a penalty of INR 30,57,730 under section 271

FRANKLIN TEMPLETON INTERNATIONAL SERVICES (INDIA) P.LTD,MUMBAI vs. DCIT CIR 6(3)(1), MUMBAI

271(1)(c)\nof the Act.\nThe Appellant prays that the penalty proceedings be dropped in the\nmatter.\nGround 5 - Levy of interest under section 234B of the Act\n5.1. On the facts and in the circumstances of the case, the learned AO\nhas erred in charging interest of Rs. 2,81,17,008.\nThe Appellant prays that