CIT v. Jaypee DSC Ventures Ltd.

335 ITR 132High Court2011#4318 most cited

What is CIT v. Jaypee DSC Ventures Ltd. authority for?

Interest income generated from fixed deposits, if purchased due to business exigencies or for the purpose of carrying on business activities, is to be treated as business income and not income from other sources.

28

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Jaypee DSC Ventures Ltd. · business exigencies · interest income · business income · income from other sources · fixed deposits · Section 143(3) · Section 24(b) · Section 250(6)

Also reported as

17 Taxmann.com 257

Sections most often in play

Section 143(3)Section 24(b)Section 250(6)
Read the full judgment

Issues it is cited on

income from other sourcescompanybusinessinterestsection 143(3)india

Judgments citing CIT v. Jaypee DSC Ventures Ltd.

CROWN TECHNOBUILD PVT. LTD.,NEW DELHI vs. ITO WARD - 6(4), NEW DELHI

In the result, the Assessee’s appeal is party allowed for statistical purposes

ITA 775/DEL/2020[2015-16]Status: DisposedITAT Delhi16 May 2025AY 2015-16

Bench: Shri Shamim Yahya & Shri Sudhir Pareekasstt. Year : 2015-16 Crown Techno Build Pvt. Ltd., Vs. Ito, Ward-6(4), 2Nd Floor, E-3/B1, Mohan Cooperative New Delhi Industrial Estate, New Delhi – 44 (Pan: Aadcc0686L) (Appellant) (Respondent) Appellant By : Sh. V.K. Sabharwal, Adv. & Sh. Rajiv Kumar, Adv. Respondent By : Shri Rajesh Kumar Dhanesta, Sr. Dr

For Appellant: Sh. V.K. Sabharwal, Adv. & Sh. RajivFor Respondent: Shri Rajesh Kumar Dhanesta, Sr. DR
Section 143(1)Section 24

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘B’’ : NEW DELHI) BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI SUDHIR PAREEK, JUDICIAL MEMBER Asstt. Year : 2015-16 Crown Techno Build Pvt. Ltd., VS. ITO, WARD-6(4), 2nd floor, E-3/B1, Mohan Cooperative New Delhi Industrial Estate, New Delhi – 44 (PAN: AADCC0686L) (Appellant) (Respondent) Appellant by : Sh. V.K. Sabharwal, Adv. & Sh. Rajiv Kumar, Adv. Respondent by : Shri Rajesh Kumar Dhanesta, Sr. DR Date of Hearing 08.05.2025 Date of Pronouncement 16.05.2025 ORDER PER SHAMIM YAHYA, AM: The Assessee has filed the instant Appeal against the Order of…

ACIT, CIRCLE 8(2), NEW DELHI vs. ETAWAH CHAKERI (KANPUR) HIGHWAY PVT. LTD., NEW DELHI

In the result, appeal of Revenue is dismissed

ITA 9200/DEL/2019[2015-16]Status: DisposedITAT Delhi25 May 2023AY 2015-16

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaacit Vs. Etawah Chakeri (Kanpur) Circle – 8(2), Highway Pvt. Ltd. New Delhi Ose Commercial Block, Asset 5B, Aerocity, Hospitality, District, Igi Pan No. Aacce 8963 D Airport, New Delhi – 110 037 (Appellant) (Respondent) Assessee By Shri K. V. S. R. Krishna, C.A. Revenue By Shri Javed Akhter, Cit-D.R. Date Of Hearing: 22.05.2023 Date Of Pronouncement: 25.05.2023

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ACIT Vs. Etawah Chakeri (Kanpur) Circle – 8(2), Highway Pvt. Ltd. New Delhi OSE Commercial Block, Asset 5B, Aerocity, Hospitality, District, IGI PAN No. AACCE 8963 D Airport, New Delhi – 110 037 (APPELLANT) (RESPONDENT) Assessee by Shri K. V. S. R. Krishna, C.A. Revenue by Shri Javed Akhter, CIT-D.R. Date of hearing: 22.05.2023 Date of Pronouncement: 25.05.2023 PER ANIL CHATURVEDI, AM : This appeal filed by the Revenue is directed against the order dated 11.09.201…

M/S RAJENDRA PRASAD SRIVASTAVA,AZAMGARH vs. ACIT, RANGE - AZAMGARH, AZAMGARH

In the result, the appeal of the assessee is dismissed

ITA 164/VNS/2019[2013-2014]Status: DisposedITAT Varanasi07 Feb 2023AY 2013-2014

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 M/S Rajendra Prasad Srivastava, Vs. Asstt. Commissioner Of Income Sarfuddinpur, Near Railway Tax, Range-Azamgarh Station, Azamgarh-276001 Pan-Aakfr2986A (Appellant) (Respondent) Appellant By: Sh.Hari N. Singh Bisen, C.A. Respondent By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 11.01.2023 Date Of Pronouncement: 07.02.2023

For Appellant: Sh.Hari N. Singh Bisen, C.AFor Respondent: Sh. A.K. Singh, Sr. DR
Section 143(2)Section 145(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL CIRCUITBENCH,VARANASI BEFORE SHRI.VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER Assessment Year: 2013-14 M/s Rajendra Prasad Srivastava, vs. Asstt. Commissioner of Income Sarfuddinpur, Near Railway Tax, Range-Azamgarh Station, Azamgarh-276001 PAN-AAKFR2986A (Appellant) (Respondent) Appellant by: Sh.Hari N. Singh Bisen, C.A. Respondent by: Sh. A.K. Singh, Sr. DR Date of hearing: 11.01.2023 Date of pronouncement: 07.02.2023 O R D E R PER VIJAY PAL RAO, J.M. This appeal by the assessee is directed against the order dated 09.05.2019 of CIT(A) for the…

NCML BHATTU PVT. LTD. ,HARYANA vs. ITO,WARD-(3)(1), HARYANA

In the result the appeals are allowed

ITA 348/DEL/2022[2018-19]Status: DisposedITAT Delhi14 Nov 2022AY 2018-19

Bench: Shri Saktijit Deyasstt. Year : 2018-19 Ncml Varanasi Private Limited Vs. Ito, Ward 1 (1) Iffco Tower-1, B-Wing, 5Th Haryana. Floor, P.No. 3, Sector-29, Gurgaon, Haryana 122001 Pan Aafcn5105P (Appellant) (Respondent) Asstt. Year : 2018-19 Ncml Bhattu Pvt. Ltd. Vs. Ito, Ward-(3)(1) Iffco Tower-1, Haryana B Wing, 5Th Floor, P. No. 3 Sector 29 Gurgaon Haryana-122 001 Pan Aafcn5113K (Appellant) (Respondent)

For Appellant: Shri Nitish Ranjan, CAFor Respondent: Shri Om Prakash, Sr. DR
Section 143(1)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “SMC”: NEW DELHI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER Asstt. Year : 2018-19 NCML Varanasi Private Limited Vs. ITO, Ward 1 (1) IFFCO Tower-1, B-Wing, 5th Haryana. Floor, P.No. 3, Sector-29, Gurgaon, Haryana 122001 PAN AAFCN5105P (Appellant) (Respondent) Asstt. Year : 2018-19 NCML Bhattu Pvt. Ltd. Vs. ITO, Ward-(3)(1) IFFCO Tower-1, Haryana B Wing, 5th Floor, P. No. 3 Sector 29 Gurgaon Haryana-122 001 PAN AAFCN5113K (Appellant) (Respondent) Assessee by: Shri Nitish Ranjan, CA Department by : Shri Om Prakash, Sr. DR Date of Hearing 23.08.2022 Date of pronouncement…

NCML VARANASI PRIVATE LIMITED ,HARYANA vs. ITO, WARD 1(1), HARYANA

In the result the appeals are allowed

ITA 347/DEL/2022[2018-19]Status: DisposedITAT Delhi14 Nov 2022AY 2018-19

Bench: Shri Saktijit Deyasstt. Year : 2018-19 Ncml Varanasi Private Limited Vs. Ito, Ward 1 (1) Iffco Tower-1, B-Wing, 5Th Haryana. Floor, P.No. 3, Sector-29, Gurgaon, Haryana 122001 Pan Aafcn5105P (Appellant) (Respondent) Asstt. Year : 2018-19 Ncml Bhattu Pvt. Ltd. Vs. Ito, Ward-(3)(1) Iffco Tower-1, Haryana B Wing, 5Th Floor, P. No. 3 Sector 29 Gurgaon Haryana-122 001 Pan Aafcn5113K (Appellant) (Respondent)

For Appellant: Shri Nitish Ranjan, CAFor Respondent: Shri Om Prakash, Sr. DR
Section 143(1)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “SMC”: NEW DELHI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER Asstt. Year : 2018-19 NCML Varanasi Private Limited Vs. ITO, Ward 1 (1) IFFCO Tower-1, B-Wing, 5th Haryana. Floor, P.No. 3, Sector-29, Gurgaon, Haryana 122001 PAN AAFCN5105P (Appellant) (Respondent) Asstt. Year : 2018-19 NCML Bhattu Pvt. Ltd. Vs. ITO, Ward-(3)(1) IFFCO Tower-1, Haryana B Wing, 5th Floor, P. No. 3 Sector 29 Gurgaon Haryana-122 001 PAN AAFCN5113K (Appellant) (Respondent) Assessee by: Shri Nitish Ranjan, CA Department by : Shri Om Prakash, Sr. DR Date of Hearing 23.08.2022 Date of pronouncement…

DCIT- CC- 5(3), MUMBAI vs. IRB JAIPUR DEOLI TOLLWAY LTD., MUMBAI

In the result, the appeal filed by the revenue stands dismissed

ITA 2542/MUM/2021[2012-13]Status: DisposedITAT Mumbai10 Nov 2022AY 2012-13

Bench: Shri B. R. Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No. 2542/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) Dcit, Central Circle-5(3) बिधम/ M/S. Irb Jaipur Deoli Tollway Room No. 1906, 19Th Floor, Ltd. Vs. Air India Building, Irb Complex, Chandivali Nariman Point, Mumbai- Village, Andheri, East, 400021. Mumbai-400072. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacci1724Q (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri P. D. Chougule (Sr. Ar) Assessee By: Shri Nishit Gandhi & Ms. Dhanalaxmi Iyyar सुनवाई की तारीख / Date Of Hearing: 06/10/2022 घोषणा की तारीख /Date Of Pronouncement: 10/11/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By Revenue Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)- 53, Mumbai Dated 03.06.2021. 2. The Main Grievance Of The Revenue Is Against The Action Of The Ld. Cit(A) To Have Deleted The Addition Of Rs.4,70,67,196/- Which Was Added By The Ao U/S 56 Of The Income Tax Act, 1961 (Hereinafter “The Act”).

For Appellant: Shri Nishit Gandhi & MsFor Respondent: Shri P. D. Chougule (Sr. AR)
Section 143(3)Section 147Section 56

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI B. R. BASKARAN, AM AND SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. No. 2542/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT, Central Circle-5(3) बिधम/ M/s. IRB Jaipur Deoli Tollway Room No. 1906, 19th Floor, Ltd. Vs. Air India Building, IRB Complex, Chandivali Nariman Point, Mumbai- Village, Andheri, East, 400021. Mumbai-400072. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AACCI1724Q (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri P. D. Chougule (Sr. AR) Assessee by: Shri Nishit Gandhi & Ms. Dhanalaxmi Iyyar सुनवाई की तारीख…

COURTYARD REAL ESTATE PVT. LTD,`MUMBAI vs. ACIT CENT. CIR -5(4), MUMBAI

In the result, appeal of the assessee is Allowed

ITA 2312/MUM/2021[2017-18]Status: DisposedITAT Mumbai26 Jul 2022AY 2017-18

Bench: Shri Abyt Varkey & Shri Gagan Goyalm/S Courtyard Real Estate Private Limited 1St Floor, Windsor, Cst Road, Kalina, Santacruz East Mumbai-400098 Pan: Aadcr0870K ...... Appellant Vs. Assistant Commissioner Of Income Tax, Central Circle 5(4), Air India Building, Nariman Point, Mumbai-400021 ..…Respondent Appellant By : Shri. Jitendra Jain, Ca Respondent By : Shri Shyam Joshi, Sr. Dr Date Of Hearing : 19/05/2022 Date Of Pronouncement : 26/07/2022 Order Per Gagan Goyal, Am: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-53, Mumbai [Hereinafter Referred To As Cit (A)] Vide Order Dated 26.10.2021 For The Assessment Year (Ay) 2017-18. The Solitary Issue Disputed In Appeal Is As Under: “1. The Cit(A) Erred In Confirming The Action Of Ao In Treating The Interest Income Earned On Fixed Deposits (Fd) Of Rs. 60,49,527/- As “Income From Other Sources” For The Year As Against Reducing The Same From The Total Cost Of Work In Progress. 2. The Appellant Submits That On The Facts & Circumstances Of The Case The Interest Income Earned On Fd Of Rs. 60,49,527/- Reduces The Interest Cost On Funds Borrowed For The Project & Thus Has Been Rightly Reduced From The Cost Of Project. 3. Your Appellant Craves Leave To Add, To Alter, Or To Amend The Aforesaid Grounds Of Appeal. 2 M/S Courtyard Real Estate Pvt. Ltd. 2. Brief Facts Of The Case Are That The Assessee-Company Is In The Business Of Real Estates Development & Construction. It Filed Its Return Of Income For Ay 2017- 18 On 30.3.2018 Declaring Income For The Year At Rs. 56,72,910/-. During The Year Under Consideration, The Assessee Was Constructing A Residential Project At Pokhran Road No 2, Thane. It Was Following Percentage Completion Method (Pcm) Of Accounting For Revenue Recognition.

For Appellant: Shri. Jitendra Jain, CAFor Respondent: Shri Shyam Joshi, Sr. DR

…page 47 – 71 of the paper book. In order to buttress the submission, the AR relied upon following judicial pronouncements:  Bokaro Steel Limited [236 ITR 315 SC]  CIT Vs. Karnal Co-Operative Sugar Mills Ltd [243 ITR 2 SC]  CIT Vs. Jaypee DSC Ventures Ltd [335 ITR 132](Delhi)  CIT Vs. Paramount Premises (P) Ltd [190 ITR 0259 (Bom HC) 6. The Ld. DR vehemently argued and relied upon the CIT(A)’s order. 7. We have heard both the parties and perused the paper book filed by the assessee. The undisputed facts of the present case are that the assessee is engaged in the business of real estate construction and deve…

ADDL.CIT, SPECIAL RANGE-9,, NEW DELHI vs. WORLDS WINDOW INFRASTRUCTURE AND LOGISTICS P.LTD, NEW DELHI

ITA 1123/DEL/2018[2014-15]Status: DisposedITAT Delhi28 Oct 2021AY 2014-15

Bench: Shri R.K. Panda & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Nand Kishore Bansal, CAFor Respondent: Shri Munesh Kumar, CIT DR
Section 14ASection 37Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘F’ : NEW DELHI) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.1122/Del./2018 (ASSESSMENT YEAR : 2013-14) ITA No.1123/Del./2018 (ASSESSMENT YEAR : 2014-15) Addl.CIT, Spl. Range 9, vs. M/s. World Window Infrastructure New Delhi. and Logistics Pvt. Ltd., 75, Khirki Village, Malviya Nagar, New Delhi – 110 017. (PAN : AAACW6405E) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Nand Kishore Bansal, CA REVENUE BY : Shri Munesh Kumar, CIT DR Date of Hearing : 28.10.2021 Date of Order : 28.10.2021 O R D E…

ADDL.CIT, SPECIAL RANGE-9,, NEW DELHI vs. WORLDS WINDOW INFRASTRUCTURE AND LOGISTICS P.LTD, NEW DELHI

ITA 1122/DEL/2018[2013-14]Status: DisposedITAT Delhi28 Oct 2021AY 2013-14

Bench: Shri R.K. Panda & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Nand Kishore Bansal, CAFor Respondent: Shri Munesh Kumar, CIT DR
Section 14ASection 37Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘F’ : NEW DELHI) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA No.1122/Del./2018 (ASSESSMENT YEAR : 2013-14) ITA No.1123/Del./2018 (ASSESSMENT YEAR : 2014-15) Addl.CIT, Spl. Range 9, vs. M/s. World Window Infrastructure New Delhi. and Logistics Pvt. Ltd., 75, Khirki Village, Malviya Nagar, New Delhi – 110 017. (PAN : AAACW6405E) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Nand Kishore Bansal, CA REVENUE BY : Shri Munesh Kumar, CIT DR Date of Hearing : 28.10.2021 Date of Order : 28.10.2021 O R D E…

NAGARJUNA OIL CORPORATION LTD.,CHENNAI vs. ITO CORPORATE WARD 4(2), CHENNAI

In the result, the appeal of the assessee is treated as partly allowed for statistical purpose

ITA 2538/CHNY/2017[2013-14]Status: DisposedITAT Chennai08 Nov 2019AY 2013-14

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.2538/Chny/2017 ("नधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Nagarjuna Oil Corporation Ltd., Corporate Ward – 4(2), Md Chambers, New No.53, Chennai – 34. Dr.R.K. Salai, Mylaypore, Chennai – 600 004. Pan: Aaacn 9369E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Saroj Kumar Parida, Advocate ""यथ" क" ओर से/Respondent By : Shri S. Bharath,Cit सुनवाई क" तार"ख/Date Of Hearing : 28.08.2019 घोषणा क" तार"ख /Date Of Pronouncement : 08.11.2019 आदेश / O R D E R

For Appellant: Shri Saroj Kumar Parida, AdvocateFor Respondent: Shri S. Bharath,CIT
Section 36(1)Section 56Section 57

…llant relies on the following decisions: i) CIT v VGR Foundation 298 ITR 392 (Mad) ii) Pr CIT v Facor Power Ltd ITA No.1 011/2015 dt 07.01.2016 (Del) 4 iii) NTPC SAIL Power Company Pvt. Ltd. Vs. CIT 210 Taxman 358 (Delhi) iv) CIT Vs Jaypee DSC Ventures Ltd. 335 ITR 132 v) CIT Vs UK Bose J B Roy 2012-TIOL-1010 vi) POSCO-India Pvt Ltd. Vs DClT 2013-TIOL-225-ITAT-CUTTACK vii) Adani Power Ltd Vs AClT 2015-TIOL-1327-ITAT-AHM viii) Shapoorji Pallonji Power Co Ltd Vs ITO 2009-TIOL-528-ITAT- MUM 3. Without prejudice to the above claim, the CIT(A), in any event, should have found that the interest paid on borrowings sh…

JHABUA POWER LTD.,KOLKATA vs. THE DCIT, CIRCLE-12, KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

ITA 2074/KOL/2016[2011-12]Status: DisposedITAT Kolkata23 Mar 2018AY 2011-12

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

…21 of the paper book) during the course of assessment proceedings. Relying, inter alia, on the decision of the Hon’ble Delhi High Court in the case of CIT –vs.- Jaypee DSC Ventures Limited I.T.A. No. 2074/KOL./2016 Assessment year: 2011-2012 Page 3 of 4 (335 ITR 132), he contended that the interest earned by the assessee on the FDRs having intrinsic and inseggregable nexus with the work undertaken was the capital receipt and the same was liable to be adjusted against the Project expenditure and could not be assessed as income from other sources. The ld. D.R., on the other hand, relied on the orders of the au…

VIMAL AND SONS,,PUNE vs. INCOME-TAX OFFICER, WARD - 3(1),, PUNE

In the result, appeal of the assessee is allowed

ITA 2169/PUN/2017[2010-11]Status: DisposedITAT Pune13 Mar 2018AY 2010-11

Bench: Shri D. Karunakara Rao, Am

For Appellant: Smt. Deepa KhareFor Respondent: Shri Ajay Modi, JCIT
Section 143(3)Section 40

…ion payable to the partners u/s.40(b) of the Act is valid. In this regard, Ld. Counsel filed the copies of the following judgments/decisions which were relied upon by the Ld. Counsel for the assessee in support his case : 1. CIT Vs. Jaypee DSC Ventures Ltd. 335 ITR 132 2. CIT Vs. Dalmia Promoters Developers Pvt. Ltd. 281 ITR 346 (Del) 3. Md. Serajuddin & Brothers Vs. CIT 210 Taxman 0084 4. CIT Vs. J.J. Industries 358 ITR 0531 (Guj.) 5. M/s. P.G. Bhagwat Vs. ITO – ITA No.1562/PN/2007, order dated 15-04-2009 for the A.Y. 2002-03 6. ACIT Vs. West Gujarat Expressway Ltd. 57 taxmann.com 384 (Mumbai-Trib.) 7. CIT Vs.…

DCIT, CHENNAI vs. ITI HOLDINGS & INVESTMENT LTD., CHENNAI

In the result, the Revenue’s appeal in I

ITA 647/CHNY/2017[2012-13]Status: DisposedITAT Chennai28 Feb 2018AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.646/Mds/2017 "नधा"रण वष" / Assessment Year : 2012-13

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 14A

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.646/Mds/2017 "नधा"रण वष" / Assessment Year : 2012-13 M/s ITI Holdings and Investment Limited (Formerly The Investment of The Assistant Commissioner of Trust of India Ltd.), v. Income Tax (OSD), C/o M/s Subbaraya Aiyar Corporate Circle -3, Padmanabhan & Ramamani Chennai - 600 034. Advocates, New No.75 (Old No.105), Dr. Radhakrishnan Salai, Mylapore…

ITI HOLDINGS AND INVESTMENT LIMITED,CHENNAI vs. ACIT (OSD), CHENNAI

In the result, the Revenue’s appeal in I

ITA 646/CHNY/2017[2012-13]Status: DisposedITAT Chennai28 Feb 2018AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.646/Mds/2017 "नधा"रण वष" / Assessment Year : 2012-13

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 14A

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.646/Mds/2017 "नधा"रण वष" / Assessment Year : 2012-13 M/s ITI Holdings and Investment Limited (Formerly The Investment of The Assistant Commissioner of Trust of India Ltd.), v. Income Tax (OSD), C/o M/s Subbaraya Aiyar Corporate Circle -3, Padmanabhan & Ramamani Chennai - 600 034. Advocates, New No.75 (Old No.105), Dr. Radhakrishnan Salai, Mylapore…

M/S ATRIA POWER CORPROATION LTD.,,BANGALORE vs. ITO, BANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 1394/BANG/2013[2010-11]Status: DisposedITAT Bangalore22 Dec 2017AY 2010-11

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodiaassessment Year : 2010-11

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri H.L. Sowmya Achar, Addl. CIT(DR)(ITAT), Bengaluru
Section 115JSection 211Section 234Section 80I

…by the jurisdictional High Page 4 of 48 Court in the case of CIT v. Chinna Nachimuthu Constructions, 179 Taxman 272 (Kar), CIT v. Hajee Jaffar Shariff in ITA No.1521 of 2005 and by the Hon’ble Delhi High Court in the case of CIT v. Jaypee DSC Ventures Ltd., 335 ITR 132 (Del), in which it was held that wherever the fixed deposits were purchased on account of business exigencies, the interest income generated thereon shall be treated as business income and not income from other sources. 7. Having carefully examined the orders of authorities below, we find that though assessee has claimed that FDRs were purchased…

M/S. KAMAKHAYA OIL COMPANY,NEW DELHI vs. CIT, NEW DELHI

In the result, appeal of the assessee is dismissed

ITA 3030/DEL/2014[2009-10]Status: DisposedITAT Delhi21 Nov 2017AY 2009-10

Bench: Sh. Bhavnesh Saini & Sh. O.P. Kantassessment Year: 2009-10 M/S. Kamakhaya Oil Company, Vs. Cit, Delhi-X, New Delhi C/O- M/S. Rra Taxindia, D-28, South Extension, Part-I, New Delhi. Pan : Aahfk3040R (Appellant) (Respondent) Appellant By Sh. R.S. Singhvi, Ca Respondent By Sh. Vijay Verma, Cit(Dr) Date Of Hearing 07.11.2017 Date Of Pronouncement 21.11.2017 Order Per O.P. Kant, A.M.:

Section 143(2)Section 143(3)Section 263Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘D’, NEW DELHI BEFORE SH. BHAVNESH SAINI, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2009-10 M/s. Kamakhaya Oil Company, Vs. CIT, Delhi-X, New Delhi C/o- M/s. RRA Taxindia, D-28, South Extension, Part-I, New Delhi. PAN : AAHFK3040R (Appellant) (Respondent) Appellant by Sh. R.S. Singhvi, CA Respondent by Sh. Vijay Verma, CIT(DR) Date of hearing 07.11.2017 Date of pronouncement 21.11.2017 ORDER PER O.P. KANT, A.M.: This appeal by the assessee is directed against order dated 30/03/2014 passed the Commissioner of income tax, Delhi –X (in sh…

ITO, NEW DELHI vs. M/S. SMART DIGIVISION PVT.LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 6112/DEL/2013[2008-09]Status: DisposedITAT Delhi07 Apr 2017AY 2008-09

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Sh. Amrit Kumar, Sr. DRFor Respondent: Smt. Ranu Jain, Advocate
Section 143(3)Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘G’ NEW DELHI BEFORE : SHRI BHAVNESH SAINI, JUDICIAL MEMBER & SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA No. 6112/Del./2013 Asstt. Year : 2008-09 Income-tax Officer, vs. Smart Digivision Pvt. Ltd., Ward 9(1), New Delhi. 8, Commercial Complex, Masjid Moth, G.K.-II, New Delhi. (PAN- AALCS 1437P) (Appellant) (Respondent) Appellant by : Sh. Amrit Kumar, Sr. DR Respondent by : Smt. Ranu Jain, Advocate Date of hearing : 06.04.2017 Date of pronouncement : 07.04.2017 ORDER Per L.P. Sahu, Accountant Member: This is an appeal filed by the Revenue against the order of…

SUNCITY HARYANA SEZ DEVELOPERS PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, the Appeal filed by the Assessee stands allowed

ITA 3513/DEL/2013[2009-10]Status: DisposedITAT Delhi05 Oct 2016AY 2009-10

Bench: Shri H.S. Sidhu & Shri O.P. Kant

For Appellant: Sh. Ved Jain, Adv., Sh. AshishFor Respondent: Sh. IPS Bindra, CIT(DR)
Section 132Section 143(3)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER I.T.A. No. 3513/DEL/2013 A.Y. : 2009-10 M/S SUNCITY HARYANA SEZ DCIT, CENTRAL CIRCLE -1 DEVELOPERS PVT. LTD., VS. NEW DELHI N-49, (1ST FLOOR) CONNAUGHT ROOM NO. 322, E-2, ARA PLACE, CENTRE NEW DELHI – 110 001 JHANDEWALAN EXTN., NEW (PAN: AAJCS9416N) DELHI (APPELLANT) (RESPONDENT) Assessee by : Sh. Ved Jain, Adv., Sh. Ashish Chadha, CA Department by : Sh. IPS Bindra, CIT(DR) Date of Hearing : 29-09-2016 Date of Order : 05-10-2016 ORDER PER H.S. SIDHU : JM This Appeal…

ACIT, NEW DELHI vs. BLB LTD, NEW DELHI

The appeal of the assessee is allowed and the appeal

ITA 2901/DEL/2010[2006-07]Status: DisposedITAT Delhi05 Aug 2016AY 2006-07

Bench: Shri G.D. Agrawal & Shri Sudhanshu Srivastavam/S Blb Ltd. Vs Acit 4764/23A, Ansari Road, Circle 3(1) Darya Ganj, C.R. Building, I.P. Estate, New Delhi. New Delhi. Aaacb0184H & Acit Vs M/S Blb Ltd. Circle 3(1) 4764/23A, Ansari Road, C.R. Building, I.P. Estate, Darya Ganj, New Delhi. New Delhi. Aaacb0184H

Section 115JSection 14ASection 2(24)(x)Section 88ESection 94(7)

…ines is inextricably linked with taxable securities transaction, as such, tax payable on interest income is eligible for rebate u/s 88E of the Act. 6.3.5 The Ld. AR relied on the judgment of the Hon’ble High Court of Delhi in CIT vs Jaypee DSC Ventures Ltd 335 ITR 132 (Del) wherein it ITA Nos. 2126 & 2901/D/10 M/s BLB Ltd. Page 17 of 28 has been held that where interest income is inextricably linked with the business income, the same cannot be taxed as income from other sources. The Ld. AR submitted that on perusal of the judgment of Hon’ble High Court of Delhi reported in 335 ITR 132, it would be seen that…

M/S BLB LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is allowed and the appeal

ITA 2126/DEL/2010[2006-07]Status: DisposedITAT Delhi05 Aug 2016AY 2006-07

Bench: Shri G.D. Agrawal & Shri Sudhanshu Srivastavam/S Blb Ltd. Vs Acit 4764/23A, Ansari Road, Circle 3(1) Darya Ganj, C.R. Building, I.P. Estate, New Delhi. New Delhi. Aaacb0184H & Acit Vs M/S Blb Ltd. Circle 3(1) 4764/23A, Ansari Road, C.R. Building, I.P. Estate, Darya Ganj, New Delhi. New Delhi. Aaacb0184H

Section 115JSection 14ASection 2(24)(x)Section 88ESection 94(7)

…ines is inextricably linked with taxable securities transaction, as such, tax payable on interest income is eligible for rebate u/s 88E of the Act. 6.3.5 The Ld. AR relied on the judgment of the Hon’ble High Court of Delhi in CIT vs Jaypee DSC Ventures Ltd 335 ITR 132 (Del) wherein it ITA Nos. 2126 & 2901/D/10 M/s BLB Ltd. Page 17 of 28 has been held that where interest income is inextricably linked with the business income, the same cannot be taxed as income from other sources. The Ld. AR submitted that on perusal of the judgment of Hon’ble High Court of Delhi reported in 335 ITR 132, it would be seen that…

Showing 1–20 of 28 · Page 1 of 2