DDIT, DEHRADUN vs. M/S. DAELIM INDUSTRIAL COMPANY LIMITED, DEHRADUN

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ITA 4341/DEL/2014Status: DisposedITAT Dehradun31 October 2023AY 2010-1111 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found no infirmity in the CIT(A)'s order regarding the restriction of expense disallowance after considering the evidence. The deletion of liquidated damages was also deemed justified as it was adjusted against prior year receivables.

What were the facts?

The Assessing Officer disallowed expenses of Rs. 2,54,85,276/- and added Rs. 8.90 Crore received as liquidated damages. The CIT(A) restricted the expense disallowance to Rs. 1 Crore and deleted the addition on account of liquidated damages.

What were the issues?

Whether the CIT(A) erred in restricting the disallowance of expenses and deleting the addition on account of liquidated damages.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, [ DEHRADUN BENCH “DB” : DELHI ]

Before: SHRI CHALLA NAGENDRA PRASADSHRIM. BALAGANESH

For Appellant: Shri Mayank Kumar
Hearing: 31/10/2023

आदेश क� �ितिलिप अ�ेिषत / Copy of Order Forwarded to:-

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