H T Media Ltd. v. PCIT

M/S. Ht Media Limited, New Delhi vs. DCIT, New Delhi

Bench: Shri P. M. Jagtap & Ms Suchitra Kambledcit Vs H. T. Media Ltd. Circle-12(1) Hindustan Times House, New Delhi 18-20, Kasturba Gandhi (Appellant) Marg New Delhi Aabch3165P (Respondent) Dcit Vs H. T. Media Ltd. Circle-12(1) Hindustan Times House, New Delhi 18-20, Kasturba Gandhi (Appellant) Marg New Delhi Aabch3165P (Respondent) H. T. Media Ltd. Vs Dcit Hindustan Times House, Circle-12101) 18-20, Kasturba Gandhi Marg New Delhi New Delhi (Respondent) Aabch3165P (Appellant) Dcit Vs H. T. Media Ltd. Circle-12101) Hindustan Times House, New Delhi 18-20, Kasturba Gandhi (Appellant) Marg New Delhi Aabch3165P (Respondent) Vs Acit Hindustan Times House, Circle-12101) 18-20, Kasturba Gandhi Marg New Delhi New Delhi (Respondent) Aabch3165P (Appellant)

…, disallowance made by the Assessing Officer and by the company in A.Y. 2008-09 and 2009-10 was produced. The facts of the case are identical to the facts of A.Y. 2008-09 wherein the Hon’ble Delhi High Court in case of H.T. Media Ltd. Vs. Principal CIT (2017) 399 ITR 576 held that in the facts of the case no disallowance on account of interest is called for and disallowance made by the company of Rs. 3 lac on account of administrative expenses is to be upheld, since the Assessing Officer had not recorded any satisfaction. The Ld. AR also relied upon the decision of DLF Home Developers Ltd. vs. DCIT (2018) 53 CCH…

DCIT, New Delhi vs. H.T. Media Ltd., New Delhi

Bench: Shri P. M. Jagtap & Ms Suchitra Kambledcit Vs H. T. Media Ltd. Circle-12(1) Hindustan Times House, New Delhi 18-20, Kasturba Gandhi (Appellant) Marg New Delhi Aabch3165P (Respondent) Dcit Vs H. T. Media Ltd. Circle-12(1) Hindustan Times House, New Delhi 18-20, Kasturba Gandhi (Appellant) Marg New Delhi Aabch3165P (Respondent) H. T. Media Ltd. Vs Dcit Hindustan Times House, Circle-12101) 18-20, Kasturba Gandhi Marg New Delhi New Delhi (Respondent) Aabch3165P (Appellant) Dcit Vs H. T. Media Ltd. Circle-12101) Hindustan Times House, New Delhi 18-20, Kasturba Gandhi (Appellant) Marg New Delhi Aabch3165P (Respondent) Vs Acit Hindustan Times House, Circle-12101) 18-20, Kasturba Gandhi Marg New Delhi New Delhi (Respondent) Aabch3165P (Appellant)

…, disallowance made by the Assessing Officer and by the company in A.Y. 2008-09 and 2009-10 was produced. The facts of the case are identical to the facts of A.Y. 2008-09 wherein the Hon’ble Delhi High Court in case of H.T. Media Ltd. Vs. Principal CIT (2017) 399 ITR 576 held that in the facts of the case no disallowance on account of interest is called for and disallowance made by the company of Rs. 3 lac on account of administrative expenses is to be upheld, since the Assessing Officer had not recorded any satisfaction. The Ld. AR also relied upon the decision of DLF Home Developers Ltd. vs. DCIT (2018) 53 CCH…

DCIT, New Delhi vs. M/S. Gujarat Guardian Ltd., New Delhi

In the result, appeal filed by the revenue against the direction of the Ld

Bench: Shri S.K.Yadav & Shri Prashant Maharishim/S. Guajarat Guardian Ltd, Vs. Dcit, 4-7/C, Dda Shopping Centre, Circle-12(1), (Now Circle- New Friends Colony, 10(2), New Delhi Cr Building, Ip Estate, Pan: Aaacg1622K New Delhi (Appellant) (Respondent) Dcit, Vs. M/S. Guajarat Guardian Ltd, Circle-12(1), (Now Circle-10(2), 4-7/C, Dda Shopping Cr Building, Ip Estate, Centre, New Delhi New Friends Colony, New Delhi Pan: Aaacg1622K (Appellant) (Respondent)

…of expenses with exempt income, before rejecting the claim of assessee and computing disallowance under section 14A as per Rule 8D of the Rules. Reference is further made to the decision of the Delhi High Court in the case of H.T. Media Ltd. vs. PCIT: [2017] 399 ITR 576 (Delhi) wherein the Court placed reliance on the decision of the Apex Court in Godrej & Boyce Manufacturing Co. Ltd. v. DCIT (supra) and held that where there was a failure by Assessing Officer to comply with mandatory requirement of section 14A(2) read with rule 8D(1)(a) and record his satisfaction as required there under, question of applying r…

DCIT, New Delhi vs. Montage Enterprises (P) Ltd, New Delhi

In the result, the appeal of the assessee is allowed whereas the appeal of the Revenue is dismissed

Bench: : Shri Amit Shukla & Shri L.P. Sahu

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘E’, New Delhi Before : Shri Amit Shukla, Judicial Member And Shri L.P. Sahu, Accountant Member I.T.A. No.6963/Del/2014 Assessment Year: 2011-12 Montage Enterprises Pvt. Ltd., vs. ACIT, Central Circle-18, C-53, Shashi Garden, Near Pocket-V, New Delhi. Gurudwara, Mayur Vihar, Phase-I, New Delhi. PAN: AACCM8173H (Appellant) (Respondent) Assessment Year: 2011-12 ACIT, Central Circle-18, vs. Montage Enterprises Pvt. Ltd., New Delhi. C-53, Shashi Garden, Near Pocket-V, Gurudwara, Mayur Vihar, Phase-I, New Delhi. (Appellant) (Respondent) Assessee by Shri M.P. Rasto…

M/S. Montage Enterprises Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed whereas the appeal of the Revenue is dismissed

Bench: : Shri Amit Shukla & Shri L.P. Sahu

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘E’, New Delhi Before : Shri Amit Shukla, Judicial Member And Shri L.P. Sahu, Accountant Member I.T.A. No.6963/Del/2014 Assessment Year: 2011-12 Montage Enterprises Pvt. Ltd., vs. ACIT, Central Circle-18, C-53, Shashi Garden, Near Pocket-V, New Delhi. Gurudwara, Mayur Vihar, Phase-I, New Delhi. PAN: AACCM8173H (Appellant) (Respondent) Assessment Year: 2011-12 ACIT, Central Circle-18, vs. Montage Enterprises Pvt. Ltd., New Delhi. C-53, Shashi Garden, Near Pocket-V, Gurudwara, Mayur Vihar, Phase-I, New Delhi. (Appellant) (Respondent) Assessee by Shri M.P. Rasto…

DCIT, New Delhi vs. M/S. Montage Enterprises Pvt. Ltd., Delhi

Appeal is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…), then only he can proceed to make disallowance under Rule 8D, This has been clearly stated by the Hon'ble Delhi High Court in the case of HT Media Ltd. 30 I.T.As. No.5124/Del/2011, 92/Del/2012, 144, 475, 4426 & 4906/Del/2013 vs. Pr.CIT, reported in (2017) 399 ITR 576 (Del.) and Hon'ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. vs. Dy.CIT & Anr., reported in (2017) 394 ITR 449 (SC). Thus, in the absence of any recording of mandatory satisfaction as per Section 14A (2) r.w.s. Rule 8D (1) Assessing Officer cannot mechanically apply Rule 8D for the purpose of disallowance. Accordingly, disal…

DCIT, New Delhi vs. M/S. Montage Enterprises Pvt. Ltd., Delhi

Appeal is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…), then only he can proceed to make disallowance under Rule 8D, This has been clearly stated by the Hon'ble Delhi High Court in the case of HT Media Ltd. 30 I.T.As. No.5124/Del/2011, 92/Del/2012, 144, 475, 4426 & 4906/Del/2013 vs. Pr.CIT, reported in (2017) 399 ITR 576 (Del.) and Hon'ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. vs. Dy.CIT & Anr., reported in (2017) 394 ITR 449 (SC). Thus, in the absence of any recording of mandatory satisfaction as per Section 14A (2) r.w.s. Rule 8D (1) Assessing Officer cannot mechanically apply Rule 8D for the purpose of disallowance. Accordingly, disal…

M/S Montage Enterprises Pvt. Ltd., New Delhi vs. ACIT, New Delhi

Appeal is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…), then only he can proceed to make disallowance under Rule 8D, This has been clearly stated by the Hon'ble Delhi High Court in the case of HT Media Ltd. 30 I.T.As. No.5124/Del/2011, 92/Del/2012, 144, 475, 4426 & 4906/Del/2013 vs. Pr.CIT, reported in (2017) 399 ITR 576 (Del.) and Hon'ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. vs. Dy.CIT & Anr., reported in (2017) 394 ITR 449 (SC). Thus, in the absence of any recording of mandatory satisfaction as per Section 14A (2) r.w.s. Rule 8D (1) Assessing Officer cannot mechanically apply Rule 8D for the purpose of disallowance. Accordingly, disal…

ACIT, New Delhi vs. M/S. Montage Enterprises Pvt. Ltd., New Delhi

Appeal is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…), then only he can proceed to make disallowance under Rule 8D, This has been clearly stated by the Hon'ble Delhi High Court in the case of HT Media Ltd. 30 I.T.As. No.5124/Del/2011, 92/Del/2012, 144, 475, 4426 & 4906/Del/2013 vs. Pr.CIT, reported in (2017) 399 ITR 576 (Del.) and Hon'ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. vs. Dy.CIT & Anr., reported in (2017) 394 ITR 449 (SC). Thus, in the absence of any recording of mandatory satisfaction as per Section 14A (2) r.w.s. Rule 8D (1) Assessing Officer cannot mechanically apply Rule 8D for the purpose of disallowance. Accordingly, disal…

Montage Enterprises Pvt. Ltd., New Delhi vs. DCIT, New Delhi

Appeal is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…), then only he can proceed to make disallowance under Rule 8D, This has been clearly stated by the Hon'ble Delhi High Court in the case of HT Media Ltd. 30 I.T.As. No.5124/Del/2011, 92/Del/2012, 144, 475, 4426 & 4906/Del/2013 vs. Pr.CIT, reported in (2017) 399 ITR 576 (Del.) and Hon'ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. vs. Dy.CIT & Anr., reported in (2017) 394 ITR 449 (SC). Thus, in the absence of any recording of mandatory satisfaction as per Section 14A (2) r.w.s. Rule 8D (1) Assessing Officer cannot mechanically apply Rule 8D for the purpose of disallowance. Accordingly, disal…

DCIT, New Delhi vs. M/S. Ge Capital Services India Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…om the computation of disallowance under Rule 8D (2)(iii). In respect of his contentions, especially on the issue of recording of satisfaction, he relied upon the decision of Hon'ble Delhi High Court in the case of HT Media Ltd. vs. Pr.CIT, reported in (2017) 399 ITR 576 (Del.) and Hon'ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. vs. Dy.CIT & Anr., reported in (2017) 394 ITR 449 (SC). 12. We have heard the rival submissions and also perused the relevant finding given in the impugned orders. First of all, we find that before the Assessing Officer in response to the show cause notice as to w…

DCIT, New Delhi vs. M/S. Ge Capital Services India Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…om the computation of disallowance under Rule 8D (2)(iii). In respect of his contentions, especially on the issue of recording of satisfaction, he relied upon the decision of Hon'ble Delhi High Court in the case of HT Media Ltd. vs. Pr.CIT, reported in (2017) 399 ITR 576 (Del.) and Hon'ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. vs. Dy.CIT & Anr., reported in (2017) 394 ITR 449 (SC). 12. We have heard the rival submissions and also perused the relevant finding given in the impugned orders. First of all, we find that before the Assessing Officer in response to the show cause notice as to w…