CIT v. Bharti Televenture Ltd.

DCIT, New Delhi vs. M/S. Mira Exim Ltd., New Delhi

In the result, the Appeal of the Revenue and the Cross Objection of the assessee are dismissed

Bench: Shri I.C. Sudhir & Shri B.P. Jainassessment Year 2009-10 Dcit, Vs. Mira Exim Ltd. Circle-6(1), Room No.413, 523-24, World Trade C.R. Building I.P. Estate, Centre, New Delhi. Barakhamba Road, New Delhi. Pan: Aaacm 2066M (Appellant) (Respondent)

…e disallowance of interest payment of 1,02,22,500/-, made by the A.O. on account of interest free advance given to the daughter of the Managing Director of assessee Company, by following the judgement of Hon'ble Delhi High Court in case of Bharti Televentures 331 ITR 502 without appreciating the fact that the assessee failed to prove any Commercial Expediency and failed to substantiate any business purpose of assessee for advancing these interest free loan/advance to its sister concern? 5.Whether on the facts and circumstances of the case & in law, the Ld. CIT (A) erred in deleting the disallowance of interest p…

M/S. Samtel Glass Limited, New Delhi vs. ACIT, New Delhi

In the result, the appeal of the Assessee is allowed

Bench: Shri H.S. Sidhu & Shri Prashant Maharishiassessment Year: 2009-10 M/S Samtel Glass Limited, Vs. Acit, 501, Copia Corporate Suites, Circle-7(1), District Centre-Jasola, C.R. Bldg., New Delhi – 110 025 New Delhi (Pan: Aaacs2730C)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER Assessment Year: 2009-10 M/S SAMTEL GLASS LIMITED, VS. ACIT, 501, Copia Corporate Suites, CIRCLE-7(1), District Centre-Jasola, C.R. BLDG., New Delhi – 110 025 NEW DELHI (PAN: AAACS2730C) (APPELLANT) (RESPONDENT) Assessee by : SH. D.C. GARG, CA Department by : SMT. SHAVETA NAKRA DUTTA, SR. DR ORDER PER H.S. SIDHU, JM The Assessee has filed the Appeal against the impugned Order dated 2.12.2013 of Ld. CIT(A)-X, New Delhi pertaining to assessment year 2009-10. Th…

Goodyear India Ltd., Faridabad vs. ACIT, New Delhi

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

….: 82 ITR 166 (SC) • CIT Vs. Dhanrajgirji Raja Narasingirji 91 ITR 544 • Madhav Prasad Jatia v. CIT U.P.: 118 ITR 200 (SC) • CIT Vs. National Rayon Commercial Co. Ltd. 193 ITR 744 • S.A. Builders Ltd. vs. CIT : 288 ITR 1 (SC) • CIT V. Bharti Televentures Ltd: 331 ITR 502 (Del) • CIT vs. Padmani Packaging (P) Ltd. : 155 Taxmann 268 (Del) • CIT v. Rockman Cycle Industries Ltd.: 331 ITR 401 (P&H) (FB) • CIT vs. EKL Appliances Ltd. : ITA No. 1068/2011 & 1070/2011(Del HC) • CIT v. Dalmia Cement (P.) Ltd: 254 ITR 377 (Del) • CIT vs. Dalmia Cement (B) Ltd. (supra), (Del) It is respectfully submitted that as long as an i…

ACIT, New Delhi vs. M/S Sgs Tekniks Pvt. Ltd., New Delhi

In the result, both the appeal of the assessee and the appeal of the revenue

Bench: Shri N.K. Saini & Shri A.T. Varkey

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘G’: NEW DELHI) BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER and SHRI A.T. VARKEY, JUDICIAL MEMBER ITA No.4571/Del./2009 (ASSESSMENT YEAR : 2006-07) M/s. SGS Tekniks Pvt. Ltd., vs. ACIT, Circle 8 (1), F – 225A, Sainik Farms, New Delhi. New Delhi – 110 062. (PAN : AAACS2999D) ITA No.97/Del./2010 (ASSESSMENT YEAR : 2006-07) ACIT, Circle 8 (1), vs. M/s. SGS Tekniks Pvt. Ltd., New Delhi. F – 225A, Sainik Farms, New Delhi – 110 062. (PAN : AAACS2999D) (APPELLANT) (RESPONDENT) ASSESSEE BY : Prof. S. Sampath REVENUE BY : Shri Sujit Kumar, Senior DR O R D E R PER A.T. VARK…

M/S. Sgs Tekniks Pvt. Ltd, New Delhi vs. DCIT, New Delhi

In the result, both the appeal of the assessee and the appeal of the revenue

Bench: Shri N.K. Saini & Shri A.T. Varkey

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘G’: NEW DELHI) BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER and SHRI A.T. VARKEY, JUDICIAL MEMBER ITA No.4571/Del./2009 (ASSESSMENT YEAR : 2006-07) M/s. SGS Tekniks Pvt. Ltd., vs. ACIT, Circle 8 (1), F – 225A, Sainik Farms, New Delhi. New Delhi – 110 062. (PAN : AAACS2999D) ITA No.97/Del./2010 (ASSESSMENT YEAR : 2006-07) ACIT, Circle 8 (1), vs. M/s. SGS Tekniks Pvt. Ltd., New Delhi. F – 225A, Sainik Farms, New Delhi – 110 062. (PAN : AAACS2999D) (APPELLANT) (RESPONDENT) ASSESSEE BY : Prof. S. Sampath REVENUE BY : Shri Sujit Kumar, Senior DR O R D E R PER A.T. VARK…

Majestic Hotels Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result appeal of the assessee for Ay 2010-11 is allowed

Bench: Sh. C.M.Garg, Jm & Sh. Prashant Maharishi, Am A Y: 2008-09

…titutions ? 2. Whether the facts and circumstances of the case and in law, the learned CIT (A) erred in deleting the disallowance of interest expenses amounting to Rs. 24,05,333/- by relying upon the judgment of Hon’ble Delhi High Court in Bharti Televentures 331 ITR 502 even the assessee failed to prove its commercial expendiency and CIT (A) also held that there was no commercial expediency ? 3. Whether the facts and circumstances of the case and in law, the learned CIT (A) erred in not considering the decision in the case of CIT vs. Abhishek Industries Ltd. 286 ITR 1 in which the Hon’ble Punjab and Haryana High…

Mukul Rohatgi, New Delhi vs. JCIT, New Delhi

The appeal is allowed

Bench: Shri I.C. Sudhir & Shri Laxmi Prashad Sahu Assessment Year: 2008-09 Mukul Rohatgi, Vs. Jcit, 59- Sunder Nagar, Range-37, New Delhi. New Delhi. (Pan: Aacpr4789B) (Appellant) (Respondent) Appellant By: Shri P.C. Yadav, Adv. Respondent By: Shri P.Damkanunjna, Sr. Dr Date Of Hearing : 19 .08.2015 Date Of Pronouncement: 14:10.2015 Order Per I.C. Sudhir:The Assessee Has Questioned First Appellate Order Mainly On The Following Grounds (Revised) : 1. That The Order Of The Learned Cit(Appeals) Is Bad In Law & On Facts: 2. That The Learned Cit(Appeals) Has Erred In Confirming The Assessment Of The Income Of The Assessee At Rs.18.63,90,250 As Against The Returned Income Of Rs.18,54,95,430/-/ 3. That Under The Facts & Circumstances Of The Case & In Law, The Learned Cit(Appeals) Has Erred In Confirming The Disallowance Of Rs.1,18,675 Out Of The Interest Expenses Incurred On Borrowed Funds Pertaining To Higher Purchase Of Car.

…at Rs.21,27,41,082 and during the year the assessee had advanced only Rs.8,89,40,627. The Learned AR cited following decisions in support of his above contention: i) CIT vs. Bharti Televenture Ltd. – 51 DTR 98 (Delhi); ii) Amway India Enterprise Vs. ITO – 331 ITR 502. 11. The Learned Senior DR on the other hand tried to justify the orders of the authorities below on the issue. He contended that assessee had not explained what was the necessity to take the loan for purchasing of the car when the assessee was having sufficient funds available. Thus, taking of the loan was not commercial expediency. 12. Consid…

Commissioner of Income Tax (C) - III vs. M/S Dd Industries Ltd

…ITA Nos.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 1 * IN THE HIGH COURT OF DELHI AT NEW DELHI Decided On: 13.03.2015 + ITA No.512/2013 COMMISSIONER OF INCOME TAX (C) -III ..... Appellant Through: Mr. N.P. Sahni, Sr. Standing Counsel, Advocate. Versus M/s DD INDUSTRIES LTD. ..... Respondent Through: Mr. Salil Aggarwal with Mr. Ravin Pratap, Advocates. AND + ITA No.516/2013 COMMISSIONER OF INCOME TAX (C) -III ..... Appellant Through: Mr. N.P. Sahni, Sr. Standing Counsel, Advocate. Versus M/s DD INDUSTRIES…

Commissioner of Income Tax (C) -III vs. M/S Dd Industries Ltd

…ITA Nos.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 1 * IN THE HIGH COURT OF DELHI AT NEW DELHI Decided On: 13.03.2015 + ITA No.512/2013 COMMISSIONER OF INCOME TAX (C) -III ..... Appellant Through: Mr. N.P. Sahni, Sr. Standing Counsel, Advocate. Versus M/s DD INDUSTRIES LTD. ..... Respondent Through: Mr. Salil Aggarwal with Mr. Ravin Pratap, Advocates. AND + ITA No.516/2013 COMMISSIONER OF INCOME TAX (C) -III ..... Appellant Through: Mr. N.P. Sahni, Sr. Standing Counsel, Advocate. Versus M/s DD INDUSTRIES…