M/S Ambience Developers & Infrastructure Pvt. Ltd., New Delhi vs. DCIT, New Delhi
In the result appeal filed by assessee stands partly
ITA 6767/DEL/2015[2010-11]Status: DisposedITAT Delhi28 Feb 2019AY 2010-11
Bench: Shri N.K.Billaiya & Smt. Beena A Pillaiay: 2009-10 Ay: 2011-12 Dcit Vs. Ambience Developers & Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Developers & Vs. Dcit Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Hotels & Vs. Dcit Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aadca7906K (Appellant) (Respondent) Department By : Ms. Nidhi Srivastava, Cit, D.R. Assessee By : : Sh. T.R. Talwar, Adv. Date Of Hearing : 06/02/2019 Date Of Pronouncement: 28 /02/2019
For Appellant: : Sh. T.R. Talwar, AdvFor Respondent: Ms. Nidhi Srivastava, CIT, D.R
Section 60
…of that ITA Nos. 6413 & 6414/Del/15 AY:2009-10/2011-12 ITA Nos. 6767 & 6766/Del/15 AY:2010-11 Ambience Developers and Infrastructure P Ltd./Ambience Hotels & Resorts Pvt.Ltd. income is a mere application of the income (CIT vs. Dr. Rameshwar Lal Pahwa, (1980) 123 ITR 681, 687-88 (Del). Also see Provat Kumar Mitter v. CIT, (1961) 41 ITR 624 (SC); CIT v. Smt. Nandiniben Narottamdas, (1983) 140 ITR 16, 26 (Guj)]. Also see, “Diversion or application of income", u/s. 4, ante. The object underlying the provisions of section 60 is to meet with the device which was being adopted by the assessees by which while retaining…
