DCIT, NEW DELHI vs. M/S. JAGSON INTERNATIONAL LTD., NEW DELHI

ITA 276/DEL/2017Status: DisposedITAT Delhi31 January 2022AY 2014-1571 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, finding that the issues were identical to those already decided in favor of the assessee in previous grounds. The Revenue's appeals were dismissed.

What were the facts?

The Assessing Officer (AO) disallowed interest on interest-free loans to a subsidiary, made disallowances under Section 14A, disallowed depreciation on an aircraft, disallowed unpaid operational charges, and disallowed payments made to a foreign entity for non-deduction of TDS. The CIT(A) deleted all these additions.

What were the issues?

Whether the CIT(A) erred in deleting disallowances related to interest-free loans, Section 14A, depreciation, unpaid operational charges, and TDS on foreign payments.

Which sections of the Income-tax Act were involved?

Section 14A,Section 40(a)(ia),Section 115JB,Section 9(1)(vii),Section 195,Section 36(1)(iii)

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Cases cited in this judgment(16)Show list

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Income Tax Appellate Tribunal, DELHI BENCHES “D” : NEW DELHI

Before: SHRI R.K. PANDA & SHRI NARENDRA KUMAR CHOUDHARY

Hearing: 05.01.2022Pronounced: 31.01.2022

PER R.K. PANDA, A.M.

ITA.Nos.1001 & 1002/Del./2016 filed by the Revenue are directed against the common order dated 23.12.2015 of the Ld. CIT(A)-5, Delhi relating to the A.Ys. 2012-13 and 2013-14 respectively. ITA.N

The order continues below.

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