CIT v. S.S. Thiagarajan

HCL TECHNOLOGIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal is allowed as indicated above

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

…ignored and cannot be allowed to be carried forwards separately or in conjunction with any other loss, since the said loss is not a loss determined under the head profits and gains from business or profession In Commissioner of Income-tax. Madrass Dhagarajan, 129 ITR 115 Hon’ble Madras High Court has held that the provisions of section 70 and 71 relating to set off of loss from one head against income from another contemplate loss from a source, the income from which is liable to tax. If income from a source is altogether exempt from tax, loss from that source cannot be set off against income from different sourc…

HCL TECHNOLOGIES LTD,NEW DELHI vs. ACIT, NEW DELHI

The appeal is allowed as indicated above

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

…ignored and cannot be allowed to be carried forwards separately or in conjunction with any other loss, since the said loss is not a loss determined under the head profits and gains from business or profession In Commissioner of Income-tax. Madrass Dhagarajan, 129 ITR 115 Hon’ble Madras High Court has held that the provisions of section 70 and 71 relating to set off of loss from one head against income from another contemplate loss from a source, the income from which is liable to tax. If income from a source is altogether exempt from tax, loss from that source cannot be set off against income from different sourc…

MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarmr. Nikhil Sawhney, Vs. Dcit, 17, Sunder Nagar, Central Circle, New Delhi-11003 Noida (Appellant) (Respondent) Pan: Aaups0222Q

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Mr. Nikhil Sawhney, Vs. DCIT, 17, Sunder Nagar, Central Circle, New Delhi-11003 Noida (Appellant) (Respondent) PAN: AAUPS0222Q Assessee by : Shri Rohit Jain, Adv Ms. Somya Jain, Adv Revenue by: Ms. Harpreet Kaur hansra, Sr. DR Date of Hearing 06/08/2025 Date of pronouncement 10/10/2025 O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.1249/Del/2017 for AY 2013-14, arises out of the order of the Commissioner of Income Tax (Appeals)-I, Noida [hereinafter referred to…

MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimr. Nikhil Sawhney Acit, 17 – Sunder Nagar, Central Circle, Vs. New Delhi – 110 003. Noida. Pan: Aaups0222Q (Appellant) (Respondent)

…ital loss of Rs. 1,44,73,463 can be disallowed on the basis of the decisions of the horible apex court in the case of CIT v. Harprasad and Co. P. Ltd. [1975] 74 | P a g e 99 ITR 118 (SC) and the Madras High Court in the case of CIT v. S.S. Thiagarajan[1981] 129 ITR 115 (Mad.), especially when neither the facts nor the provisions of law discussed in the said decisions are comparable to the facts of the appellant's case and the provisions of law applicable to the appellant's case ? C. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in invoking the provisions of secti…

THE COMMISSIONER OF INCOME TAX vs. INDIAN RENEWABLE ENERGY DEVELOPMENT LTD.

…decision of the Supreme Court in Orissa State Warehousing Corporation vs. CIT, (1991) 237 ITR 589 (SC) and also decision of the Madras High Court  in Commissioner of Income-Tax, Madras-II v. S.S.Thiagarajan (Decd.), by LRs, (1981) 129 ITR 115. The order passed by the Commissioner of Income Tax (Appeals) is more detailed. She had examined various contentions of the assessee but rejected the same. She relied upon Tuticorin Alkali Chemicals & Fertilizers Limited vs. CIT, (1997) 227 ITR 172, Express Newspaper Pvt. Ltd. vs. CIT, 1997 227 ITR 325 and CIT Vs. M/s. Paramount Premises (P) Ltd.…

THE COMMISSIONER OF INCOME TAX vs. INDIAN RENEWABLE ENERGY DEVELOPMENT LTD.

…decision of the Supreme Court in Orissa State Warehousing Corporation vs. CIT, (1991) 237 ITR 589 (SC) and also decision of the Madras High Court  in Commissioner of Income-Tax, Madras-II v. S.S.Thiagarajan (Decd.), by LRs, (1981) 129 ITR 115. The order passed by the Commissioner of Income Tax (Appeals) is more detailed. She had examined various contentions of the assessee but rejected the same. She relied upon Tuticorin Alkali Chemicals & Fertilizers Limited vs. CIT, (1997) 227 ITR 172, Express Newspaper Pvt. Ltd. vs. CIT, 1997 227 ITR 325 and CIT Vs. M/s. Paramount Premises (P) Ltd.…

THE COMMISSIONER OF INCOME TAX vs. INDIAN RENEWABLE ENERGY DEVELOPMENT LTD.

…decision of the Supreme Court in Orissa State Warehousing Corporation vs. CIT, (1991) 237 ITR 589 (SC) and also decision of the Madras High Court  in Commissioner of Income-Tax, Madras-II v. S.S.Thiagarajan (Decd.), by LRs, (1981) 129 ITR 115. The order passed by the Commissioner of Income Tax (Appeals) is more detailed. She had examined various contentions of the assessee but rejected the same. She relied upon Tuticorin Alkali Chemicals & Fertilizers Limited vs. CIT, (1997) 227 ITR 172, Express Newspaper Pvt. Ltd. vs. CIT, 1997 227 ITR 325 and CIT Vs. M/s. Paramount Premises (P) Ltd.…

THE COMMISSIONER OFINCOME TAX vs. INDIAN RENEWABLE ENERGY DEVELOPMENT LTD.

…assessee. He relied upon the decision of the Supreme Court in Orissa State Warehousing Corporation vs. CIT, (1991) 237 ITR 589 (SC) and also decision of the Madras High Court in Commissioner of Income-Tax, Madras-II v. S.S.Thiagarajan (Decd.), by LRs, (1981) 129 ITR 115. The order passed by the Commissioner of Income Tax (Appeals) is more detailed. She had examined various contentions of the assessee but rejected the same. She relied upon Tuticorin Alkali Chemicals & Fertilizers Limited vs. CIT, (1997) 227 ITR 172, Express Newspaper Pvt. Ltd. vs. CIT, 1997 227 ITR 325 and CIT Vs. M/s. Paramount Premises (P) Ltd.…