CIT v. L.G. Electronic (India) Ltd.

282 ITR 545High Court2006#5102 most cited

What is CIT v. L.G. Electronic (India) Ltd. authority for?

The setting up of a business and the commencement of a business are distinct events and do not necessarily occur on the same date. Expenses incurred before the commencement of business but after the setting up of business may be considered for determining profits.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2012 to 2025.

Also referred to as

CIT v. L.G. Electronic (India) Ltd. · 282 ITR 545 · setting up of business · commencement of business · previous year · section 10(2) · revenue expenditure

Sections most often in play

Section 10(2)Section 143(1)Section 143(2)Section 143(3)Section 1961Section 2(11)Section 2(34)Section 28(i)

Issues it is cited on

section 2(11)section 10(2)section 57(iii)section 57section 44abrevenue expendituresection 10previous yearincome from other sourcesassistant commissionerappeal before the tribunalcompany

Judgments citing CIT v. L.G. Electronic (India) Ltd.

DCIT, NEW DELHI vs. M/S ARICENT TECHNOLOGIES (HOLDING) PVT. LTD.,, NEW DELHI

The Appeal of the Revenue is dismissed

ITA 1344/DEL/2016[2007-08]Status: DisposedITAT Delhi04 Jun 2025AY 2007-08

Bench: Shri M. Balaganesh & Sh. Yogesh Kumar U.S.Dcit Vs. Aricent Technologies (Holding) Cricle-3(1), R. No. Pvt. Ltd. 380B, 5, Jain Mandir Marg (Annexe) C. R. Building, I. P. Connaught Place Estate, New Delhi New Delhi Pan: Aacck8280B Appellant Respondent

Section 143Section 143(1)Section 143(2)Section 143(3)

…of the same.” 12 DCIT Vs. Aricent Technologies (Holding) Pvt. ltd. Similar ratio has been laid down by the Jurisdictional High Court in following cases • CIT v. Hughes Escorts Communications Ltd. 311 ITR 253 (Del HC) • CIT vs. LG Electronics (India) Limited: 282 ITR 545 (Del Hon'ble High Court • CIT v. ESPN Software India (P) Ltd. 218 CTR 427 (Del HC) 17. In view of the above settled position of law having been laid down by the Courts, we are of the opinion that the Assessee which is an investment company would be regarded to have set up its business when it was ready to make investment i.e. when it received…

DCIT-13(1)(2), MUMBAI, INCOME TAX DEPT. MUMBAI vs. QYUKI DIGITAL MEDIA PVT. LTD., BANDRA

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

ITA 3758/MUM/2023[2012-13]Status: DisposedITAT Mumbai10 Dec 2024AY 2012-13

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri B.R. Baskaranassessment Year : 2012-13 Dcit-13(1)(2), Qyuki Digital Media Pvt. Ltd., Room No. 218, 7/8, Hari Niwas Building, Aayakar Bhavan, Vs. 30Th Cross Road, Mumbai. Off S.V. Road, Bandra (W) Mumbai. Pan : Aaocs4185R (Appellant) (Respondent) For Assessee : Shri Prateek Jha & Shri Prayag Jha, For Revenue : Smt. Sanyogita Nagpal, Cit-Dr Date Of Hearing : 10-12-2024 Date Of Pronouncement : 10-12-2024

For Appellant: Shri Prateek Jha &For Respondent: Smt. Sanyogita Nagpal, CIT-DR
Section 68

…ropriate tax efficient structure forfunds and employed necessary personnel for purpose of running its business, Tribunal was justified in holding that assesse had set up is business during relevant assessment year. In the case of L.G. Electronics ltd. (2006) 282 ITR 545 (Delhi) it is held that there is distinction between commencement of business and setting up of business and the two dates need not necessarily overlap and (b) of Sec. 3 referred to date of setting up of business and as such it is only thereafter that previous year of newly set up business would commence and therefore, expenses incurred prior the…

M/S. COASTAL ENERGEN PRIVATE LIMITED,EGMORE, CHENNAI vs. DCIT, CORPORATE CIRCLE-1(2), , CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

ITA 507/CHNY/2023[2014-15]Status: DisposedITAT Chennai12 Jun 2024AY 2014-15

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos. 505, 506 & 507/Chny/2023 िनधा"रण वष" /Assessment Years:2012-2013, 2013-2014 & 2014-2015. M/S. Coastal Energen Private The Assistant Commissioner Of Limited, V. Income Tax No. 5, Buhari Building, Central Circe 1(1) Moores Road, Egmore, Chennai Chennai 600 006. ( Previously The Deputy Commissioner Of Income Tax, Corporate Circle 1(2) Pan: Aadcc 0886G Chennai.) (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri B. Ramakrishnan, C.A. ""यथ" क" ओर से/Respondent By : Shri N. Balakrishnan, Irs, Cit. सुनवाई क" तारीख/Date Of Hearing : 14.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.06.2024 आदेश /O R D E R

For Appellant: Shri B. Ramakrishnan, C.AFor Respondent: Shri N. Balakrishnan, IRS, CIT
Section 143Section 143(3)Section 44A

…e deductions under section 10(2).” ITA Nos.505, 506 & 507/2023 7 7. The aforesaid distinction is relevant when we examine and refers to the definition of „previous year‟. Following the said judgment, in the case of CIT Vs. L.G. Electronic (India) Ltd. [2006] 282 ITR 545 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics (supra) has been followed in CIT Vs. ESPN Software India P. Ltd., [2008] 301 ITR 368 (Delhi) wherein it has been held that a business will “commence” with the first pur…

M/S. COASTAL ENERGEN PRIVATE LIMITED,EGMORE, CHENNAI vs. DCIT, CORPORATE CIRCLE-1(2), , CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

ITA 506/CHNY/2023[2013-14]Status: DisposedITAT Chennai12 Jun 2024AY 2013-14

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos. 505, 506 & 507/Chny/2023 िनधा"रण वष" /Assessment Years:2012-2013, 2013-2014 & 2014-2015. M/S. Coastal Energen Private The Assistant Commissioner Of Limited, V. Income Tax No. 5, Buhari Building, Central Circe 1(1) Moores Road, Egmore, Chennai Chennai 600 006. ( Previously The Deputy Commissioner Of Income Tax, Corporate Circle 1(2) Pan: Aadcc 0886G Chennai.) (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri B. Ramakrishnan, C.A. ""यथ" क" ओर से/Respondent By : Shri N. Balakrishnan, Irs, Cit. सुनवाई क" तारीख/Date Of Hearing : 14.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.06.2024 आदेश /O R D E R

For Appellant: Shri B. Ramakrishnan, C.AFor Respondent: Shri N. Balakrishnan, IRS, CIT
Section 143Section 143(3)Section 44A

…e deductions under section 10(2).” ITA Nos.505, 506 & 507/2023 7 7. The aforesaid distinction is relevant when we examine and refers to the definition of „previous year‟. Following the said judgment, in the case of CIT Vs. L.G. Electronic (India) Ltd. [2006] 282 ITR 545 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics (supra) has been followed in CIT Vs. ESPN Software India P. Ltd., [2008] 301 ITR 368 (Delhi) wherein it has been held that a business will “commence” with the first pur…

M/S. COASTAL ENERGEN PRIVATE LIMITED,EGMORE, CHENNAI vs. DCIT, CORPORATE CIRCLE-1(2), , CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

ITA 505/CHNY/2023[2012-13]Status: DisposedITAT Chennai12 Jun 2024AY 2012-13

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos. 505, 506 & 507/Chny/2023 िनधा"रण वष" /Assessment Years:2012-2013, 2013-2014 & 2014-2015. M/S. Coastal Energen Private The Assistant Commissioner Of Limited, V. Income Tax No. 5, Buhari Building, Central Circe 1(1) Moores Road, Egmore, Chennai Chennai 600 006. ( Previously The Deputy Commissioner Of Income Tax, Corporate Circle 1(2) Pan: Aadcc 0886G Chennai.) (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri B. Ramakrishnan, C.A. ""यथ" क" ओर से/Respondent By : Shri N. Balakrishnan, Irs, Cit. सुनवाई क" तारीख/Date Of Hearing : 14.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.06.2024 आदेश /O R D E R

For Appellant: Shri B. Ramakrishnan, C.AFor Respondent: Shri N. Balakrishnan, IRS, CIT
Section 143Section 143(3)Section 44A

…e deductions under section 10(2).” ITA Nos.505, 506 & 507/2023 7 7. The aforesaid distinction is relevant when we examine and refers to the definition of „previous year‟. Following the said judgment, in the case of CIT Vs. L.G. Electronic (India) Ltd. [2006] 282 ITR 545 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics (supra) has been followed in CIT Vs. ESPN Software India P. Ltd., [2008] 301 ITR 368 (Delhi) wherein it has been held that a business will “commence” with the first pur…

M/S QYUKI DIGITAL MEDIA PVT. LTD,MUMBAI vs. DCIT - 3(3)(2), MUMBAI

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

ITA 3499/MUM/2019[2013-14]Status: DisposedITAT Mumbai09 Jan 2023AY 2013-14

Bench: Shri Amarjit Singh & Shri Rahul Chaudharym/S Qyuki Digital Media Vs. Dy. Cit-3(3)(2) Private Limited Aayakar Bhavan, 2Nd Floor, Hari Niwas, Maharishi Karve Road, 30Th Cross Road, Off. Mumbai - 400020 S.V. Road, Bandra (West) Mumbai – 400 050 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaocs4185R Appellant .. Respondent

For Appellant: Prateek Jha &For Respondent: Riddhi Mishra
Section 143(2)

…l Media Pvt. Ltd. Vs. Dy.CIT-3(3)(2) funds and employed necessary personnel for purpose of running its business, Tribunal was justified in holding that assesse had set up is business during relevant assessment year. In the case of L.G. Electronics ltd. (2006) 282 ITR 545 (Delhi) it is held that there is distinction between commencement of business and setting up of business and the two dates need not necessarily overlap and (b) of Sec. 3 referred to date of setting up of business and as such it is only thereafter that previous year of newly set up business would commence and therefore, expenses incurred prior the…

VATIKA HOTELS PVT. LTD.,,NEW DELHI vs. DCIT CIRCLE-17(1), NEW DELHI

In the result, the appeal is partly allowed for statistical

ITA 3987/DEL/2019[2008-09]Status: DisposedITAT Delhi29 Jun 2022AY 2008-09

Bench: Saktijit Dey & Shri Pradip Kumar Kediaassessment Year: 2008-09

Section 147Section 32

…ments Pvt. Ltd., 216 Taxman 76 (Del.) 2. Western Vegetable Products Ltd. Vs. CIT, 26 ITR 151 (Bom.) 3. Sarabhai Management Corporation Ltd. Vs. CIT, 102 ITR 25 (Guj.) 4. Saurashtra Cement and Chemicals Ltd. 91 ITR 170 (SC) 5. CIT Vs. L.G. Electronics (I) Ltd. 282 ITR 545 (Del.) 6. CIT Vs. Hughes Escorts Communications Ltd., 311 ITR 253 (Del.) 7. Carefour WC & C India P. Ltd. Vs. Dy. CIT [2014] 368 ITR 692 (Delhi); 8. Omniglobe Information Tech India (P.) Ltd. Vs. CIT [2014] 369 ITR 1 (Delhi); 9. Indian Railway Stations Development Corporations Ltd. Vs. Pr. CIT [2019] 107 taxmann.com 79 (Delhi) 10. Challapalli Sug…

ITO WARD-7(2), NEW DELHI vs. DARRAMEKS HOTELS & DEVELOPERS PRIVATE LIMITED, NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 9888/DEL/2019[2016-17]Status: DisposedITAT Delhi28 Jun 2022AY 2016-17

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Usita No. 9888/Del/2019 : Asstt. Year : 2016-17 Income Tax Officer, Vs Darrameks Hotels & Developers Ward-7(2), Pvt. Ltd., 15, Ring Road, Lajpat New Delhi Nagar, New Delhi (Appellant) (Respondent) Pan No. Aaccd9005F

For Appellant: Sh. Sanjiv Rai Mehra, CAFor Respondent: Sh. Lalit Kishore, Sr. DR
Section 179Section 62(1)(a)Section 62(2)

…. The company has shown capital work in progress of Rs. 21.90 crores as on 31.03.2016 in the balance sheet. 10. The Hon’ble Delhi High Court in the cases of Carfour WC & C India Pvt. Ltd. vs. DCIT 368 ITR 692 (Delhi) and CIT vs. L.G. Electronics (India) Ltd. 282 ITR 545 (Delhi) held that business of the assessee may commence on date and the income generation may start at a much later date. Despite the fact that no revenue is generated the expenses u/s 37(1) and u/s 32 have to the allowed. 11. In this regard, reference is made to the decision of the Hon’ble High Court of Delhi in the case of CIT vs. Dhoomketu 8…

IMPERIAL SAUERMANN ROTOMOULDING P LTD,CHENNAI vs. ITO, CORP WARD -2(4), CHENNAI

In the result, the appeal filed by the assessee is allowed

ITA 905/CHNY/2019[2013-14]Status: DisposedITAT Chennai17 Nov 2021AY 2013-14

Bench: Shri V. Durga Raoआयकर अपील सं./Ita No.905/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14

For Appellant: Mr. Arjunraj, C.A for S.SridharFor Respondent: Mr. ARV. Sreenivasan

…raw material not reached the place of the business of the assessee, the assessee has commenced his business. In support of his contention, he relied on the judgment of the Hon’ble Delhi High Court of in the case of CIT v. LG Electronic (India) Ltd. [2006] 282 ITR 545 (Del.) and submitted that the loss claimed by the assessee is allowed. I.T.A No.905/Chny/2019 :- 4 -: 6. On the other hand, the ld. Departmental Representative has strongly supported the orders passed by the authorities below. 7. Both the parties have been heard, perused the material available on record and gone through the orders of the aut…

ACIT, CIRCLE - 2(1), , KOLKATA vs. TCG URBAN INFRASTRUCTURE HOLDINGS PVT LTD.,, KOLKATA

Accordingly, the same is dismissed

ITA 2584/KOL/2019[2004-05]Status: DisposedITAT Kolkata26 Oct 2021AY 2004-05

Bench: Shri Sanjay Garg & Dr. M.L.Meenaआयकर अपील सं.य/

Section 36Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL BENCH “B” KOLKATA Before Shri Sanjay Garg, Judicial Member and Dr. M.L.Meena, Accountant Member आयकर अपील सं.य/ ITA Nos.2584 to 2588/Kol/2019 Assessment Years:2004-05, ’05- 06, ’06-07,’07-08 & ’09-10 बनाम / ACIT,Cir-2(1), Kolkata M/s. TCG Urban Circle-2(1), Aaykar Bhawan, Infrastructure Holdings Pvt. V/s. P-7 Chowringhee Square, Ltd. (Earlier known as TCG Kolkata-700 069. Infrastructure Holdings Ltd.) Ground Fl., Bldg Beta, Bengal Intelligent Park, Salt Lake Electronics Complex, Block EP & GP, Sector V, Salt Lake, Kolkata. PAN: AADCS8821M अपीलाथ" /Appellant ""यथ" /Respondent…

STATKRAFT MARKETS PRIVATE LTD.,NEW DELHI vs. DCIT, CIRCLE- 24(2), NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 4536/DEL/2017[2014-15]Status: DisposedITAT Delhi26 Apr 2021AY 2014-15

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 4536/Del/2017 : Asstt. Year : 2014-15 Statkraft Markets Pvt. Ltd., Vs Dcit, 403, 4Th Floor, Salcon Rasvilas Circle-24(2), Building, Saket District Centre, New Delhi New Delhi-110017 (Appellant) (Respondent) Pan No. Aaqcs6900E Assessee By : Sh. R. M. Mehta, Adv. Revenue By : Ms. Richa Khoda, Cit Dr Date Of Hearing: 08.03.2021 Date Of Pronouncement: 26.04.2021

For Appellant: Sh. R. M. Mehta, AdvFor Respondent: Ms. Richa Khoda, CIT DR

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Bhavnesh Saini, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 4536/Del/2017 : Asstt. Year : 2014-15 Statkraft Markets Pvt. Ltd., Vs DCIT, 403, 4th Floor, Salcon Rasvilas Circle-24(2), Building, Saket District Centre, New Delhi New Delhi-110017 (APPELLANT) (RESPONDENT) PAN No. AAQCS6900E Assessee by : Sh. R. M. Mehta, Adv. Revenue by : Ms. Richa Khoda, CIT DR Date of Hearing: 08.03.2021 Date of Pronouncement: 26.04.2021 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has…

ACIT, CIRCLE - 5(2), KOLKATA, KOLKATA vs. M/S. THIESS MINES INDIA PVT. LTD., KOLKATA

In the result, this issue is adjudicated in favour of the assessee

ITA 485/KOL/2018[2013-14]Status: DisposedITAT Kolkata09 Jan 2019AY 2013-14

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 250

…nterregnum, would be permissible deductions under section 10(2)." 7. The aforesaid distinction is relevant when we examine and refers to the definition of 'previous year'. Following the said judgment, in the case of CIT v. L.G. Electronics (India) Ltd. [2006] 282 ITR 545/[2005] 149 Taxman 166 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics(supra) has been followed in CIT v. ESPN Software India (P.) Ltd. [2008] 301 ITR 368/[2009] 184 Taxman 452 (Delhi) wherein it has been held that a…

ACIT, CIRCLE-5(2), KOLKATA, KOLKATA vs. M/S THIESS MINES INDIA PVT. LTD., KOLKATA

In the result, this issue is adjudicated in favour of the assessee

ITA 2163/KOL/2016[2012-13]Status: DisposedITAT Kolkata09 Jan 2019AY 2012-13

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 250

…nterregnum, would be permissible deductions under section 10(2)." 7. The aforesaid distinction is relevant when we examine and refers to the definition of 'previous year'. Following the said judgment, in the case of CIT v. L.G. Electronics (India) Ltd. [2006] 282 ITR 545/[2005] 149 Taxman 166 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics(supra) has been followed in CIT v. ESPN Software India (P.) Ltd. [2008] 301 ITR 368/[2009] 184 Taxman 452 (Delhi) wherein it has been held that a…

M/S TAMILNADU CHEMISTS & ALLIED DISTRIBUTORS ALLIANCE LTD (IN LIQUIDATION),CHENNAI vs. ITO CORP WARD 3 (1), CHENNAI

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

ITA 406/CHNY/2018[2009-10]Status: DisposedITAT Chennai15 Oct 2018AY 2009-10

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.406/Chny/2018 िनधा"रण वष"/Assessment Year:2009-10 M/S. Tamilnadu Chemists & Allied The Income Tax Officer, Distributors Alliance Ltd. [In Vs. Corporate Ward 3(1), Liquidation], D-36, 8Th Floor, Halls Nungambakkam, Tower, No. 33, Halls Road, Egmore, Chennai. Chennai 600 008. [Pan:Aacct7540H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Viswanathan, C.A. ""थ" की ओर से/Respondent By : Shri B. Sagadevan, Jcit सुनवाई की तारीख/ Date Of Hearing : 09.08.2018 घोषणा की तारीख /Date Of Pronouncement : 15.10.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 11, Chennai Dated 14.11.2017 Relevant To The Assessment Year 2009-10. The Only Effective Ground Raised In The Appeal Of The Assessee Is That The Ld. Cit(A) Has Erred In Confirming The Disallowance Of Expenditure Of ₹.2,34,411/- On The Ground That The Assessee Has Not Commenced Its Business Operation.

For Appellant: Shri R. Viswanathan, C.AFor Respondent: Shri B. Sagadevan, JCIT

…आयकर अपीलीय अिधकरण, “डी” "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद" एवं "ी धु"ु" आर.एल रे"ी, "ाियक सद" के सम" Before Shri Abraham P. George, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member आयकर अपील सं./I.T.A.No.406/Chny/2018 िनधा"रण वष"/Assessment Year:2009-10 M/s. Tamilnadu Chemists & Allied The Income Tax Officer, Distributors Alliance Ltd. [in Vs. Corporate Ward 3(1), Liquidation], D-36, 8th Floor, Halls Nungambakkam, Tower, No. 33, Halls Road, Egmore, Chennai. Chennai 600 008. [PAN:AACCT7540H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओ…

DCIT CIR 2(2)(1), MUMBAI vs. L & T MHI BOILERS P.LTD, MUMBAI

Appeal stands dismissed

ITA 712/MUM/2016[2009-10]Status: DisposedITAT Mumbai07 Sept 2018AY 2009-10

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./I.T.A. No.712/Mum/2016 (िनधा"रणवष" / Assessment Year:2009-10) Deputy Commissioner Of Income Tax L & T Mhi Boilers Private Limited 3Rd Floor, L & T House, N.M.Marg, Circle-2(2)(1) बनाम/ Room No.545, Aaykar Bhavan, Vs. Ballard Estate, Fort M.K.Road, Mumbai-400 020 Mumbai-400 098 "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aabcl-2635-C (अपीलाथ"/Appellant) (""थ" / Respondent) : Revenue By : R.P.Meena, Ld.Cit Dr Assessee By : Vijay Mehta, Ld. Ar सुनवाई की तारीख/ : 10/07/2018 Date Of Hearing घोषणा की तारीख / : 07/09/2018 Date Of Pronouncement

For Appellant: Vijay Mehta, Ld. ARFor Respondent: R.P.Meena, Ld.CIT DR
Section 143(3)Section 14A

…l expenses during the interregnum, would be permissible deductions under section 10(2)" The ratio of the above decision has been followed by various courts of the country from time to time. The Hon’ble Delhi High Court in CIT v. L.G. Electronic (India) Ltd. [282 ITR 545] & CIT Vs Hughes Escorts Communications Ltd. [311 ITR 253] & also in CIT Vs. Dhoomketu Builders and Development P. Ltd. [368 ITR 680] derived ratio from the above decision. Further, Hon’ble Bombay High Court in CIT Vs Axis Private Equity Limited [IT Appeal No. 1204 of 2014 30/01/2017] expressed similar view. The Ld. CIT-DR has relied upon the dec…

ACIT, NEW DELHI vs. M/S. ASF INSIGNIA SEZ PVT. LTD., NEW DELHI

Appeal is dismissed

ITA 6732/DEL/2014[2010-11]Status: DisposedITAT Delhi15 Sept 2017AY 2010-11

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

For Appellant: Ms. Rano Jain, AdovcateFor Respondent: Shri R.C. Dande, Sr. DR
Section 143(3)

…ITA Nos. 6732 & 6733/Del/2014 CO No. 194/Del/2015 Assessment Years: 2010-11 & 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH “A” BENCH NEW DELHI) BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER & SHRI AMIT SHUKLA, JUDICIAL MEMBER In 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…

ACIT, NEW DELHI vs. M/S. ATS ESTATES PVT. LTD., NEW DELHI

Appeal is dismissed

ITA 6753/DEL/2014[2008-09]Status: DisposedITAT Delhi11 Sept 2017AY 2008-09

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

For Appellant: Ms. Rano Jain, AdovcateFor Respondent: Shri R.C. Dande, Sr. DR
Section 143(3)

…ITA Nos. 6732 & 6733/Del/2014 CO No. 194/Del/2015 Assessment Years: 2010-11 & 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH “A” BENCH NEW DELHI) BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER & SHRI AMIT SHUKLA, JUDICIAL MEMBER In 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…

SHRI ARIHANT TRADERS,MUMBAI vs. PR CIT 20, MUMBAI

In the result, the appeal filed by the Assessee is partly allowed with our directions as given above

ITA 2255/MUM/2015[2010-11]Status: DisposedITAT Mumbai21 Sept 2016AY 2010-11

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 2010-11 Shri Arihant Traders, Pr. Cit-20 211- B Prabhat Bldg, Pirmal Chambers बनाम/ Deodhar Rd Matunga (Cr) Mumbai- Vs. Mumbai -400019 (Revenue) (Respondent ) P.A. No.Ablfs6608N Assessee By Shri Vijay Mehta (Ar) Revenue By Shri Sanjay Singh (Cit-Dr)

Section 143(3)Section 263

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,J,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “J”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 2010-11 Shri Arihant Traders, PR. CIT-20 211- B Prabhat Bldg, Pirmal Chambers बनाम/ Deodhar Rd Matunga (CR) Mumbai- Vs. Mumbai -400019 (Revenue) (Respondent ) P.A. No.ABLFS6608N Assessee by Shri Vijay Mehta (AR) Revenue by Shri Sanjay Singh (CIT-DR) 08/09/2016 सुनवाई क" तार"ख / Date of Hearing : 21/09/2016 आदेश क" तार"ख /Date of Order: आदेश / O R D E R Per Ashwani Taneja (Accountant Member): This appeal h…

ACIT, NEW DELHI vs. M/S. BUSSAN AUTO FINANCE INDIA PVT. LTD., NEW DELHI

In the result the appeal of the Revenue is dismissed

ITA 2842/DEL/2012[2008-09]Status: DisposedITAT Delhi10 Mar 2016AY 2008-09

Bench: Shri J. Sudhakar Reddy & Shri A.T. Varkeyay: 2008-09

For Appellant: Sh. SK Jain, D.RFor Respondent: Sh. C.J.S.Nanda, C.A
Section 139(5)

…52) of the paper book. From the above evidence it is clear that the business was set up from 01.11.1995, by which date the company was ready and in a position to commence its business.” (Emphasis ours). 5.5. In the case of CIT vs. L.G. Electronics India Ltd. 282 ITR 545 (Delhi), the Hon’ble Jurisdictional High Court at para 9 held as follows. “9. There is no doubt that the date of setting up a business and the date of its commencement could be two separate dates. Section 3(1) of the Act, as it stood at the relevant time (and even as it stands today) has reference to the date of setting up the business. The CIT(…

DCIT, NEW DELHI vs. M/S DLF HOMES PANCHKULA PVT. LTD.,, NEW DELHI

In the result appeal of the department is dismissed

ITA 4344/DEL/2012[2009-10]Status: DisposedITAT Delhi14 Oct 2015AY 2009-10

Bench: Sh. N. K. Saini, Am & Sh. C. M. Garg, Jm Ita No. 4344/Del/2012 : Asstt. Year : 2009-10 Dcit, Vs M/S Dlf Homes Panchkula Pvt. Ltd. Circle-10(1), 1-E, Naaz Cinema Complex, New Delhi Jhandewalan Extn., New Delhi (Appellant) (Respondent) Pan No. Aabch8735M Assessee By : Sh. R. S. Singvi, Ca Revenue By: Smt. Parwinder Kaur, Sr. Dr Date Of Hearing : 31.07.2015 Date Of Pronouncement : 14.10.2015 Order Per N.K. Saini, A.M. This Is An Appeal By The Department Against The Order Dated 24.05.2012 Of The Ld. Cit(A)-Xiii, New Delhi.

For Appellant: Sh. R. S. Singvi, CAFor Respondent: Smt. Parwinder Kaur, Sr. DR
Section 4Section 5A

…laws: " CIT Vs Sarabhai 192 ITR 151 " Western India Vegetable Products Vs CIT 26 ITR 151 " Prem Vs CIT 108 ITR 654 8 DLF Homes Panchkula Pvt. Ltd. " CIT Vs Western India 199 ITR 777 " CIT Vs Piem Hotel 209 ITR 616 " CIT Vs L G Electronics (India) Ltd. (2006) 282 ITR 545 (Del) " CIT Vs Herbalife International India (P) Ltd. 297 ITR 303 (Del) " CIT Vs Sarabhai Management Corpn. Ltd. (1991) 192 ITR 151 " Whirlpool of India Ltd. Vs JCIT (2008) 19 SOT 593 " CIT Vs Sponge Iron Ltd. 201 ITR 770, 780 (AP) " M/s Club Resorts Pvt. Ltd. 287 ITR 552 (Mad) " DCIT Vs Core Health Care Ltd. 298 ITR 194 (2008) (SC) 7. The ld. CI…

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