CIT v. Glaxo Smithkline Asia (P.) Ltd.

ACIT, Circle- 2(2), New Delhi vs. Anand Divine Developers Pvt. Ltd., New Delhi

In the result, ITA.No.4499/Del

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…without commercial expediency. In this regard, reliance is placed on the decision of Supreme Court in the case of S.A. Builders Limited: 288 ITR 1. Reliance is also placed on the judgment of Hon’ble Supreme Court in the case of Glaxosmithkline Asia Pvt. Ltd. 236 CTR 113 wherein the appellate authorities contended before the Court that allocation of cross 14 ITA.No.4498/Del./2017 M/s. Anand Divine Developers Pvt. Ltd., New Delhi. charges by the assessee company was not correct. The Court held as under : " ..Having gone through the relevant material placed before us concerning Assessment Year 2001- 2002, we are…

ACIT, Circle- 2(2), New Delhi vs. Anand Divine Developers Pvt. Ltd., New Delhi

In the result, ITA.No.4499/Del

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…without commercial expediency. In this regard, reliance is placed on the decision of Supreme Court in the case of S.A. Builders Limited: 288 ITR 1. Reliance is also placed on the judgment of Hon’ble Supreme Court in the case of Glaxosmithkline Asia Pvt. Ltd. 236 CTR 113 wherein the appellate authorities contended before the Court that allocation of cross 14 ITA.No.4498/Del./2017 M/s. Anand Divine Developers Pvt. Ltd., New Delhi. charges by the assessee company was not correct. The Court held as under : " ..Having gone through the relevant material placed before us concerning Assessment Year 2001- 2002, we are…

ITO Ward - 23(1), New Delhi vs. Shradha Mh One Tv Network Pvt Ltd, New Delhi

In the result, appeal of the Revenue is dismissed

Bench: Shri Anil Chaturvedi & Ms. Astha Chandra

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “G” : DELHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER ITA.No.960/Del./2020 Assessment Year 2016-2017 The Income Tax Officer, M/s. Shardha MH One TV Network Pvt. Ltd., 6, SSI Room No.234, 2nd vs. Industrial Area, GT Karnal Floor, C.R. Building, Road, New Delhi–110 033. I.P. Estate, New Delhi PAN AAOCS4566Q PIN 110 002. (Appellant) (Respondent) For Assessee : Sh Vinod Kumar Bindal, C.A. & Ms. Rinky Sharma, ITP For Revenue : Ms. Sunita Singh, CIT-DR Date of Hearing : 13.07.2022 Date of Pronouncement : 19.07.2022 ORDER…

M/S. Honda Siel Power Products Ltd., Gautam Budh Nagar vs. ACIT, New Delhi

In the result the appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2007-08 Honda Siel Power Products Ltd., Vs Acit, Plot No.5, Sector-41 (Kasna), Circle-12(1), Greater Noida Industrial New Delhi. Development Area, Gautam Budh Nagar Pan: Aaach8464L (Appellant) (Respondent) Assessee By : Shri Neeraj Jain, Advocate Ms Shaily Gupta, Ca & Ms Mrinal Goyal, Ca Revenue By : Ms Sunit Singh, Cit-Dr Date Of Hearing : 12.10.2020 Date Of Pronouncement : 23.10.2020 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 14Th February 2014 Passed U/S 263 By The Cit, Delhi-4, Delhi, For Assessment Year 2007-08. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Manufacturing Of Portable Generating Sets, Ic Engines, Water Pumping Sets & Manufacture & Processing Of Pressure Die-Casting Parts. It Filed It'S Return Of Income On 27Th October 2007 Declaring Nil Income. Subsequently, The Assessee Filed A Revised Return On 29Th October 2007 Declaring Total Income At Rs.31,49,18,923/-. The Ao Passed The Order Under Section 143(3) Read With Section 144C Of The Act On 24Th October 2011, Determining The Total Income Of The Assessee At Rs.44,78,49,680/- Wherein He Made Addition Of Rs.13,29,30,660/- Under Various Heads Such As Royalty, Technical Guidance, Expert Commission & On Account Of Tp Adjustment.

…one year @ 50% of stock value. He submitted that the assessee has not claimed any double deduction and it is a revenue neutral exercise. Referring to the decision of the Hon’ble Supreme Court in the case of CIT vs. Glaxo Smithkline Asia (P) Ltd., reported in 236 CTR 113, he submitted that if the allowance is on account of consistent policy and revenue neutral, no 263 proceeding is possible since it is not prejudicial to the interest of the Revenue. He submitted that in any case the provision for slow moving inventory is based on prudent accounting policy which has consistently been followed and the accounts of t…

M/S. Amserve Consultants Ltd., New Delhi vs. ACIT, New Delhi

Bench: Shri R.K. Panda & Shri Kuldip Singh

…ded in favour of the assessee company. Coordinate Bench of the Tribunal by relying upon the decision of CIT vs. B. Dalmia Cement (P) Ltd. (2001) 254 ITR 377 (Del.) and decision rendered by Hon’ble Supreme Court in CIT vs. M/s. Glaxo Smithkline Asia (P) Ltd. – 236 CTR 113 concluded that when the expenditure incurred by the assessee company towards data processing charges was at arm’s length and not excessive and unreasonable, disallowance made by the AO is not sustainable. Furthermore, it is brought to the notice of the 5 ITA No.3062/Del./2015 Bench by the ld. AR for the assessee that decision rendered by the coo…