M/S. ACC LTD ( FORMELY KNOWN AS THE ASSOCIATED CEMEMTN COMPANIES LTD),MUMBAI vs. THE ADDL CIT RG 1(1), MUMBAI

Appeal of the Revenue is partly allowed while the appeal of the Assessee is dismissed

68,521 10.7. We find that Assessing Officer has, in paragraph 9.3 of the Assessment Order, examined the provisions of different schemes and returned a finding that the scheme under which incentive have been claimed by the Assessee are similar to the scheme in the case of Sahney Steel and Press Works Ltd.(supra) and therefore, the incentive/sales tax subsidy

BATLIBOI LTD,MUMBAI vs. DCIT CIR 2(1), MUMBAI

In the result, appeal of the assessee is allowed in part

Bench: Shri M.Balaganesh, Am & Shri Pavan Kumar Gadale, Jm M/S. Batliboi Limited Vs. Dy. Cit, Circle 2(1) Bharat House, Aayakar Bhavan 5Th Floor, 104 5Th Floor, Mumbai-400001 Mumbai Samachar Marg Fort, Mumbai -400 001 Pan/Gir No. Aaacb4408L (Appellant) .. (Respondent)

68 Taxman 145 (SC) to drive home the point that even if a receipt does not fall within the ambit of any of the sub-clauses of section 2(24) of the Act, it may still be income if it partakes the nature of income. Based on these observations, the ld AO brought

ACIT-6(1)(1), MUMBAI, MUMBAI vs. ALOK INDUSTRIES LTD., MUMBAI

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

68,844/- under the provisions of section 115JB of the Act. The assessee’s case was selected for scrutiny and assessment order u/s. 143(3) of the Act was passed on 29.12.2018, determining total income at Rs. 1,96,69,150/-, where the learned Assessing Officer (‘ld. AO’ for short) made certain addition/disallowance to the total income

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

68 of the Act, is absolutely erroneous and the same deserves to be deleted on this ground, itself. V. Further, the AO could not re-compute the profits in profit and loss account by adding the impugned share premium of Rs.32,21,48,679, for the determination of book profit under section 115JB

ACIT-6(1)(1), MUMBI, MUMBAI vs. ALOK INDUSTRIES LTD., MUMBAI

In the result, the appeal filed by the revenue is dismissed

68,844/- under the provisions of section 115JB\nof the Act. The assessee's case was selected for scrutiny and assessment order u/s.\n143(3) of the Act was passed on 29.12.2018, determining total income at Rs.\n1,96,69,150/-, where the learned Assessing Officer (‘ld. AO' for short) made certain\naddition/disallowance to the total income

ACIT-6(1)(1), MUMBAI, MUMBAI vs. ALOK INDUSTRIES LTD., MUMBAI

In the result, the appeal filed by the revenue is dismissed

68,844/- under the provisions of section 115JB\nof the Act. The assessee's case was selected for scrutiny and assessment order u/s.\n143(3) of the Act was passed on 29.12.2018, determining total income at Rs.\n1,96,69,150/-, where the learned Assessing Officer (‘ld. AO' for short) made certain\naddition/disallowance to the total income

RELIANCE INDUSTRIES LIMITED,MUMBAI vs. ACIT , MUMBAI

In the result, the ITA No

115J, does not apply in terms of section 115JB, we cannot be at liberty to be guided by the coordinate bench decision implying otherwise. The very foundation of deviation by the coordinate bench does not, therefore, hold good in law. In any event, this issue is decided on merits in favour of the assessee by Hon‟ble Calcutta High

DCIT (LTU)-2, MUMBAI vs. M/S RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the ITA No

115J, does not apply in terms of section 115JB, we cannot be at liberty to be guided by the coordinate bench decision implying otherwise. The very foundation of deviation by the coordinate bench does not, therefore, hold good in law. In any event, this issue is decided on merits in favour of the assessee by Hon‟ble Calcutta High

RELIANCE INDUSTRIES LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX LARGE TAXPAYER UNIT-2, MUMBAI

In the result, the ITA No

115J, does not apply in terms of section 115JB, we cannot be at liberty to be guided by the coordinate bench decision implying otherwise. The very foundation of deviation by the coordinate bench does not, therefore, hold good in law. In any event, this issue is decided on merits in favour of the assessee by Hon‟ble Calcutta High

RELIANCE INDUSTRIES LTD.,MUMBAI vs. ASSTT. CIT-CC-3(4), MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar, Vice Preside & Shri Sandeep Singh Karhail

115J.‖ 23. In view of the above, once assessee’s accounts have been maintained in accordance with Companies Act and the same have also been scrutinised and audited by the statutory auditor, in absence of any material to negate these facts, the AO has limited power under section 115 JB of the Act to make adjustment to book profit