Akzo Nobel Car Refinishes India (P’j Ltd. v. DCIT (ITAT, Del)

M/S. Ndtv Studios Ltd., New Delhi vs. ITO, New Delhi

In the result, the Appeal filed by the assessee is dismissed

Bench: Shri N. K. Billaiya & Shri Yogesh Kumar U.S.

…ss and delivery its service prior to June, 2009. 6 M/s. NDTV Studios Ltd., New Delhi 13. The identical issue has come up for consideration before the coordinate bench of this Tribunal in the case of DCIT v. Akzo Nobel Car Refinishes India (P.) Ltd. in [2008] 25 SOT 226 (DELHI) have held that: “12. Section 2(13) provides the definition of expression "business" according to which business includes any trade, commerce manufacture or any adventure or concern in the nature of trade, commerce or manufacture. In various authoritative pronouncements of j Hon’bie Supreme Court and Hon’ble High Courts, meaning and scope…

M/S. Vignette India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee in ITA No

…of business. It was argued that the Assessing Officer has disallowed the expenditure holding that the business has not commenced. In this regard, the ld. DR placed reliance on the judgment in the case of Akzo Nobel Car Refinishes India (P) Ltd. Vs DCIT (2008) 25 SOT 226 (Del.). 8. Heard the arguments of both the parties and perused the material available on record. 9. We find that it is a fact that the assessee due to slow down in information technology sector globally the company decided to postpone the commencement of its software development activities. Thus, leading to a conclusion that though business was…

Exevo India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by the assessee stands allowed as discussed above

Bench: Shri N.K.Saini & Smt. Beena A. Pillai

…e of the comparables, which has been upheld in various judicial rulings by coordinate benches of this Tribunal, which are as under: • Mentor Graphics Noida Pvt. Ltd., reported in 109 ITD 101, • Sony India reported in 288 ITR 52, • Philips software reported in 25 SOT 226 and • Mercer Consulting India Pvt. Ltd. reported in 150 ITD 1. 9.1. On the contrary Ld.CIT DR placed reliance upon the orders of authorities below 9.2. We have perused the submissions advanced by both the sides and the light of the records placed before us and the decisions relied upon by Ld. counsel. 9.3. Respectfully following the ratios laid do…

ACIT, New Delhi vs. M/S. Asf Insignia Sez Pvt. Ltd., New Delhi

Appeal is dismissed

Bench: Shri O.P. Kant & Shri Amit Shuklain Ita Nos. 6732 & 6733/Del/2014 Assessment Years: 2010-11 & 2011-12 Acit, Circle-3(2), Vs. Asf Insignia Sez Pvt. Ltd. New Delhi (Earlier Known As Canton Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Co. No. 194/Del/2015 Assessment Year: 2011-12 Asf Insignia Sez Pvt. Ltd. Vs. Acit, Circle-3(2), (Earlier Known As Canton New Delhi Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Revenue By: Shri R.C. Dande, Sr. Dr Assessee By: Ms. Rano Jain, Adovcate Shri Ashish Goel, Ca

…he appeal is allowed.” 6. It has been admitted by both the parties that his issue had been decided by the Tribunal in assessee’s own case for the A.Y. 2009-10. However the Ld. DR relied upon other ITAT case of Akzo Nobel Car Refinishes India Pvt. Ltd. (2008) 25 SOT 226 (Delhi). 7. After considering the rival submissions and on perusal of the impugned order and also the order of the Tribunal in assessee’s own case for the A.Y. 2009-10 in ITA No. 770/Del/2013, we find that this Page 5 of 9 issue has been decided in favour of the assessee after observing and holding as under:- “6.2. Be it as it may, in the case o…

ACIT, New Delhi vs. M/S. Ats Estates Pvt. Ltd., New Delhi

Appeal is dismissed

Bench: Shri O.P. Kant & Shri Amit Shuklain Ita Nos. 6732 & 6733/Del/2014 Assessment Years: 2010-11 & 2011-12 Acit, Circle-3(2), Vs. Asf Insignia Sez Pvt. Ltd. New Delhi (Earlier Known As Canton Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Co. No. 194/Del/2015 Assessment Year: 2011-12 Asf Insignia Sez Pvt. Ltd. Vs. Acit, Circle-3(2), (Earlier Known As Canton New Delhi Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Revenue By: Shri R.C. Dande, Sr. Dr Assessee By: Ms. Rano Jain, Adovcate Shri Ashish Goel, Ca

…he appeal is allowed.” 6. It has been admitted by both the parties that his issue had been decided by the Tribunal in assessee’s own case for the A.Y. 2009-10. However the Ld. DR relied upon other ITAT case of Akzo Nobel Car Refinishes India Pvt. Ltd. (2008) 25 SOT 226 (Delhi). 7. After considering the rival submissions and on perusal of the impugned order and also the order of the Tribunal in assessee’s own case for the A.Y. 2009-10 in ITA No. 770/Del/2013, we find that this Page 5 of 9 issue has been decided in favour of the assessee after observing and holding as under:- “6.2. Be it as it may, in the case o…

Exevo India Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result appeal filed by the assessee stands allowed

Bench: Shri Pramod Kumar & Smt. Beena A. Pillai

…has been upheld in 22 I.T.A.No. 907/Del/2016. various judicial rulings by coordinate benches of this Tribunal, which are as under: • Mentor Graphics Noida Pvt. Ltd., reported in 109 ITD 101, • Sony India reported in 288 ITR 52, • Philips software reported in 25 SOT 226 and • Mercer Consulting India Pvt. Ltd. reported in 150 ITD 1. 6.1. Respectfully following the ratio is laid down in the above judgments we are in agreement with the Ld.AR, that while comparing the margins earned by the comparable companies there is always the assessee, the difference on account of working capital employed should also be factored…