Hero Cycles Pvt. Ltd. v. CIT

379 ITR 347Supreme Court of India2015#208 most cited

What is Hero Cycles Pvt. Ltd. v. CIT authority for?

The Revenue cannot substitute its judgment for that of a businessman regarding the necessity or reasonableness of an expenditure. If an expense is incurred wholly and exclusively for business purposes, it is deductible, and the Revenue cannot question its commercial expediency.

361

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2011 to 2026.

Also referred to as

Hero Cycles Pvt. Ltd. v. CIT · 379 ITR 347 · 16 SCC 359 · Section 36(1)(iii) · commercial expediency · business expediency · disallowance of expenditure · interest-free advances · corporate guarantee · wholly and exclusively for business · Revenue's armchair approach · sales promotion expenditure

Also reported as

16 SCC 359

Sections most often in play

Section 143(3)Section 36(1)(iii)Section 147Section 1961Section 143(2)Section 14ASection 132Section 142(1)
Read the full judgment

Issues it is cited on

interest free advancescommercial expediencysection 36(1)(iii)corporate guaranteebusiness expediencysection 36book profitssection 36(1)arm's length pricetransfer pricing adjustmentassociated enterprisessection 92c

Judgments citing Hero Cycles Pvt. Ltd. v. CIT

M/S Hype Realtors Pvt. Ltd., Mohali vs. DCIT, C-6(1), Mohali

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

ITA 616/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh29 Nov 2018AY 2014-15

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

For Appellant: Sh. Jaspal Sharma, AdvocateFor Respondent: Sh. Manjit Singh, Sr DR
Section 36Section 36(1)(iii)

…in the case of ‘ACIT Vs. Janak Global Resources Pvt Ltd’ ITA No. 470/Chd/2018 order dated 16.10.2018 , wherein, the issue has been decided in favour of the assessee also considering the decision of the Hon'ble Apex Court in the case of ‘Hero Cycles Vs. CIT’ 379 ITR 347 (SC). The relevant part of the order of the Tribunal in ‘ACIT Vs. Janak Global Resources Pvt Ltd’ (supra) dated 16.10.2018, for the sake of completeness is reproduced herein under:- “7. The Ld. counsel for assessee, on the other hand, vehemently opposed this contention of the Ld. DR. The Ld. counsel for assessee pointed out that the decision r…

DCIT, C-I, Ludhiana vs. M/S Kapsons Associates Investments (P) Ltd., Ludhiana

In the result, appeal of the Revenue stands dismissed

ITA 1434/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh15 Nov 2018AY 2013-14

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

For Appellant: Smt. Chanderkanta, Sr.DRFor Respondent: Sh. Vipin Gupta, CA
Section 14Section 14A

…Resources Pvt Ltd’ ITA No. 470/Chd/2018 order dated 16.10.2018 (incidentally consisted of both of us), wherein, the issue has been decided in favour of the assessee also considering the decision of the Hon'ble Apex Court in the case of ‘Hero Cycles Vs. CIT’ 379 ITR 347 (SC) . The relevant part of the order of this Tribunal in the case of ‘ACIT Vs. M/s Janak Global Resources Pvt Ltd.’ (supra) is reproduced as under:- “9. We have carefully considered the contentions of both the parties and have also gone through various case laws referred to before us. The issue to be adjudicated, as narrowed down from the arg…

DCIT, CC-III, Ludhiana vs. M/S Sel Textiles Limited, Ludhiana

ITA 300/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh14 Nov 2018AY 2014-15

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

For Appellant: Sh. G.S. Phani Kishore, CIT DRFor Respondent: Sh. Ashwani Kumar, CA
Section 36Section 36(1)(iii)Section 36(1)(iv)

…3.2014 at Rs. 530.77 crores. He, in this respect has relied upon the decision of the Hon'ble Jurisdictional High Court in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC) and deleted the disallowance. The relevant part of the order of the Ld. CIT(A) on this issue is reproduced as under:- “7. The ground No.4 of the appeal is against the order passed by the AO who erred in disallowing a sum of Rs. 2,25,54,011/- out of interest paid by resort to provisions of Section 36(1)(iii) on account M/s SEL Textiles Ltd,…

DCIT, Ludhiana vs. M/S Rico Auto Industries Limited, Ludhiana

ITA 203/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh05 Nov 2018AY 2012-13

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

For Appellant: Shri G.S. Phani Kishore, CITFor Respondent: Sh. V.K.Gupta
Section 14ASection 36(1)(iii)

…Court in ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H), Lakhani Marketing Inc.’ 226 Taxman 45 (P&H) and further of the ITA No. -203/Chd/2017 & C.O. 23/Chd/2017 M/s Rico Auto Industries , Ludhiana 3 Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC). Further, the Ld. Counsel for the assessee has brought our attention to the decisions of the ITAT in the own case of the assessee for assessment year 2010-11 in ITA No. 1093/Chd/2014 dated 22.11.2016 and also of assessment year 2011-12 (ITA No. 692/Chd/2016 alongwith C.O.33/Chd/2016) and submitted that the issue is squarely covered in fav…

ACIT, Sangrur vs. M/S H.M.Steels Ltd, Dirba

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

ITA 1101/CHANDI/2016[2011-12]Status: DisposedITAT Chandigarh05 Nov 2018AY 2011-12

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

For Appellant: Sh. N.K.Garg, AdvocateFor Respondent: Smt. Chanderkanta, Sr.DR
Section 234BSection 80Section 80ISection 8O

…hd/2014 & 1101/Chd/2016- H.M. Steels & Padmawati Steel Ltd., Sangrur 30 Jurisdictional High Court of Punjab & Haryana in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC), since the assessee’s own funds were sufficient to meet the aforesaid interest free advances and also taking into consideration the claim of the assessee that the funds were given out of business expediency, we do not find any justification on the part of the lower authorities in disallowing the aforesaid claim of the assessee. This issu…

H.M. Steels Ltd., Sangrur vs. ACIT, Sangrur

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

ITA 590/CHANDI/2014[2010-11]Status: DisposedITAT Chandigarh05 Nov 2018AY 2010-11

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

For Appellant: Sh. N.K.Garg, AdvocateFor Respondent: Smt. Chanderkanta, Sr.DR
Section 234BSection 80Section 80ISection 8O

…hd/2014 & 1101/Chd/2016- H.M. Steels & Padmawati Steel Ltd., Sangrur 30 Jurisdictional High Court of Punjab & Haryana in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC), since the assessee’s own funds were sufficient to meet the aforesaid interest free advances and also taking into consideration the claim of the assessee that the funds were given out of business expediency, we do not find any justification on the part of the lower authorities in disallowing the aforesaid claim of the assessee. This issu…

H.M. Steels Ltd., Sangrur vs. ACIT, Sangrur

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

ITA 589/CHANDI/2014[2009-10]Status: DisposedITAT Chandigarh05 Nov 2018AY 2009-10

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

For Appellant: Sh. N.K.Garg, AdvocateFor Respondent: Smt. Chanderkanta, Sr.DR
Section 234BSection 80Section 80ISection 8O

…hd/2014 & 1101/Chd/2016- H.M. Steels & Padmawati Steel Ltd., Sangrur 30 Jurisdictional High Court of Punjab & Haryana in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC), since the assessee’s own funds were sufficient to meet the aforesaid interest free advances and also taking into consideration the claim of the assessee that the funds were given out of business expediency, we do not find any justification on the part of the lower authorities in disallowing the aforesaid claim of the assessee. This issu…

DCIT, Sangrur vs. M/S H.M. Steel Ltd., Sangrur

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

ITA 584/CHANDI/2014[2010-11]Status: DisposedITAT Chandigarh05 Nov 2018AY 2010-11

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

For Appellant: Sh. N.K.Garg, AdvocateFor Respondent: Smt. Chanderkanta, Sr.DR
Section 234BSection 80Section 80ISection 8O

…hd/2014 & 1101/Chd/2016- H.M. Steels & Padmawati Steel Ltd., Sangrur 30 Jurisdictional High Court of Punjab & Haryana in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC), since the assessee’s own funds were sufficient to meet the aforesaid interest free advances and also taking into consideration the claim of the assessee that the funds were given out of business expediency, we do not find any justification on the part of the lower authorities in disallowing the aforesaid claim of the assessee. This issu…

DCIT, Sangrur vs. M/S H.M. Steel Ltd., Sangrur

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

ITA 583/CHANDI/2014[2009-10]Status: DisposedITAT Chandigarh05 Nov 2018AY 2009-10

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

For Appellant: Sh. N.K.Garg, AdvocateFor Respondent: Smt. Chanderkanta, Sr.DR
Section 234BSection 80Section 80ISection 8O

…hd/2014 & 1101/Chd/2016- H.M. Steels & Padmawati Steel Ltd., Sangrur 30 Jurisdictional High Court of Punjab & Haryana in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC), since the assessee’s own funds were sufficient to meet the aforesaid interest free advances and also taking into consideration the claim of the assessee that the funds were given out of business expediency, we do not find any justification on the part of the lower authorities in disallowing the aforesaid claim of the assessee. This issu…

DCIT, Sangrur vs. M/S H.M. Steel Ltd., Sangrur

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

ITA 585/CHANDI/2013[2008-09]Status: DisposedITAT Chandigarh05 Nov 2018AY 2008-09

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

For Appellant: Sh. N.K.Garg, AdvocateFor Respondent: Smt. Chanderkanta, Sr.DR
Section 234BSection 80Section 80ISection 8O

…hd/2014 & 1101/Chd/2016- H.M. Steels & Padmawati Steel Ltd., Sangrur 30 Jurisdictional High Court of Punjab & Haryana in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC), since the assessee’s own funds were sufficient to meet the aforesaid interest free advances and also taking into consideration the claim of the assessee that the funds were given out of business expediency, we do not find any justification on the part of the lower authorities in disallowing the aforesaid claim of the assessee. This issu…

M/S H.M. Steel Ltd., Sangrur vs. Addl. CIT, Sangrur

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

ITA 366/CHANDI/2013[2008-09]Status: DisposedITAT Chandigarh05 Nov 2018AY 2008-09

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

For Appellant: Sh. N.K.Garg, AdvocateFor Respondent: Smt. Chanderkanta, Sr.DR
Section 234BSection 80Section 80ISection 8O

…hd/2014 & 1101/Chd/2016- H.M. Steels & Padmawati Steel Ltd., Sangrur 30 Jurisdictional High Court of Punjab & Haryana in the case of ‘CIT Vs. Kaspsons Associates’, 381 ITR 204 (P&H) and further of the Hon'ble Supreme Court in the case of ‘Hero Cycles Ltd., 379 ITR 347 (SC), since the assessee’s own funds were sufficient to meet the aforesaid interest free advances and also taking into consideration the claim of the assessee that the funds were given out of business expediency, we do not find any justification on the part of the lower authorities in disallowing the aforesaid claim of the assessee. This issu…

M/S Trident Limited, Ludhiana vs. DCIT, C-1, Ludhiana

The appeal of the Revenue is dismissed

ITA 1615/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh31 Oct 2018AY 2012-13
For Appellant: Shri. Ashwani KumarFor Respondent: Shri. G.S. Phani Kishore CIT (DR)
Section 14ASection 250(6)Section 36(1)(iii)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ “बी” , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH "ी संजय गग", "या"यक सद"य एवं डा. बी.आर.आर, कुमार, लेखा सद"य BEFORE: Sh. SANJAY GARG, JM & DR. B.R.R. KUMAR, AM आयकर अपील सं./ ITA NO. 1615/Chd/2017 "नधा"रण वष" / Assessment Year : 2012-13 M/s Trident Limited The DCIT, बनाम E-212, Kitchlu Nagar C-1, Rishi Nagar Ludhiana, Punjab Ludhiana, Punjab "थायी लेखा सं./PAN NO: AABCA4139J अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ ITA NO. 1590/Chd/2017 "नधा"रण वष" / Assessment Year : 2012-13 The DCIT, M/s Trident Limited बनाम C-1, Ludhiana, Punjab…

DCIT, C-1, Ludhiana vs. M/S Trident Limited, Ludhiana

The appeal of the Revenue is dismissed

ITA 1590/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh31 Oct 2018AY 2012-13
For Appellant: Shri. Ashwani KumarFor Respondent: Shri. G.S. Phani Kishore CIT (DR)
Section 14ASection 250(6)Section 36(1)(iii)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ “बी” , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH "ी संजय गग", "या"यक सद"य एवं डा. बी.आर.आर, कुमार, लेखा सद"य BEFORE: Sh. SANJAY GARG, JM & DR. B.R.R. KUMAR, AM आयकर अपील सं./ ITA NO. 1615/Chd/2017 "नधा"रण वष" / Assessment Year : 2012-13 M/s Trident Limited The DCIT, बनाम E-212, Kitchlu Nagar C-1, Rishi Nagar Ludhiana, Punjab Ludhiana, Punjab "थायी लेखा सं./PAN NO: AABCA4139J अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ ITA NO. 1590/Chd/2017 "नधा"रण वष" / Assessment Year : 2012-13 The DCIT, M/s Trident Limited बनाम C-1, Ludhiana, Punjab…

JCIT, Rang-2, Kota vs. Chambal Fertilisers and Chemicals Limited, Kota

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 575/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 461/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke M/s Chambal Fertilisers & The JCIT, Vs. Chemicals Limited, Range-2, District- Kota. Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAACC 9762 A vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 575/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke The ACIT, M/s Chambal Fertilise…

Chambal Fertilisers and Chemicals Limited, Kota vs. JCIT, Kota

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 461/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 461/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke M/s Chambal Fertilisers & The JCIT, Vs. Chemicals Limited, Range-2, District- Kota. Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAACC 9762 A vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 575/JP/2015 fu/kZkj.k o"kZ@Assessment Years : 2011-12 cuke The ACIT, M/s Chambal Fertilise…

ACIT, Circle, Panchkula vs. M/S Janak Global Resources Pvt. Ltd., Panchkula

In the result, the appeal of the Revenue is dismissed

ITA 470/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh16 Oct 2018AY 2014-15
For Appellant: Shri Manoj KumarFor Respondent: Shri Parikshit Aggarwal, CA
Section 36Section 36(1)(iii)

…the fact situation revealed the limited fact of mixed funds available with the assessee, disallowance u/s 14A was warranted. The Ld. counsel for assessee thereafter contended that in fact the Hon'ble Apex Court, in the case of Hero Cycles Pvt. Ltd. Vs. CIT, 379 ITR 347(SC), had upheld the presumption theory of utilization of own interest free funds for making non business advances where sufficiency of such funds is adequately demonstrated. It was pointed out that the Hon’ble Supreme Court in the said case ,on the issue of disallowance of interest u/s 36(1)(iii) on advances made to directors had held that wh…

M/S Rpa Developers, Ludhiana vs. DCIT, CC-III, Ludhiana

In the result, all the appeals filed by the assessee are hereby allowed

ITA 1026/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh16 Oct 2018AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Gupta

For Appellant: Sh. Pankaj Bhalla, CAFor Respondent: Smt. Anita Sinha, CIT DR alongwith
Section 132(1)Section 139(1)Section 143(2)Section 153CSection 250(6)Section 3Section 36(1)(iii)Section 72

…owever, considering that the assessee has his own sufficient funds to meet the aforesaid advances, we find that the issue is squarely covered in favour of the assessee by the decision of the Hon'ble Supreme Court in the case of ‘Hero Cycles P. Ltd Vs. CIT’, 379 ITR 347 (SC), and of the Hon'ble Bombay High Court on in the case of ‘CIT Vs. Reliance Utilities & Power Ltd.’ 313 ITR 340, wherein, the Hon'ble Courts have held that where the own funds of the assessee are sufficient to meet the interest free advances given during the year, then the presumption would arise that such advances or investments have been…

Principal Commissioner of Income Tax-7 vs. The Basti Sugar Mills Company Limited

ITA/205/2018HC Delhi28 Sept 2018

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

Section 260ASection 36(1)(iii)

…cts as found by the first appellate authority, the Tribunal has dismissed the appeal filed by the Revenue. 8. Decision of the Supreme court in S.A. Builders(supra) has been followed in Hero Cycles Private Limited versus Commissioner of Income Tax (2015) 16 SCC 359 and Munjal Sales Corporation versus Commissioner of Income Tax and Another (2008) 3 SCC 185. The reasons ITA No.205/2018 Page 5 of 5 and grounds given in the assessment order cannot be supported and sustained in view o…

Principal Commissioner of Income Tax-7 vs. The Basti Sugar Mills Company Limited

ITA-205/2018HC Delhi28 Sept 2018
Section 260ASection 36(1)(iii)

…cts as found by the first appellate authority, the Tribunal has dismissed the appeal filed by the Revenue. 8. Decision of the Supreme court in S.A. Builders(supra) has been followed in Hero Cycles Private Limited versus Commissioner of Income Tax (2015) 16 SCC 359 and Munjal Sales Corporation versus Commissioner of Income Tax and Another (2008) 3 SCC 185. The reasons 2018:DHC:6312-DB ITA No.205/2018 Page 5 of 5 and grounds given in the assessment order cannot be supported and su…

Ksc Engineers Private Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by assessee stands dismissed

ITA 5224/DEL/2016[2012-13]Status: DisposedITAT Delhi06 Sept 2018AY 2012-13

Bench: Shri R.K.Panda & Smt. Beena A Pillaiassessment Year : 2011-12 M/S Ksc Engineers Vs. Acit, Circle 14(2) Pvt.Ltd. Room No.311A 4-H, Gopala Tower 3Rd Floor, C.R.Building Rajendra Place I.P.Estate New Delhi 110 008 New Delhi 110 002 Pan: Aaack6112C Assessment Year : 2011-12 Acit, Circle 14(2) Vs. M/S Ksc Engineers Pvt.Ltd. Room No.311A 4-H, Gopala Tower 3Rd Floor, C.R.Building Rajendra Place I.P.Estate New Delhi 110 008 New Delhi 110 002 Pan: Aaack6112C Assessment Year : 2012-13 M/S Ksc Engineers Vs. Acit, Circle 14(2) Pvt.Ltd. Room No.311A 4-H, Gopala Tower 3Rd Floor, C.R.Building Rajendra Place I.P.Estate New Delhi 110 008 New Delhi 110 002 Pan: Aaack6112C (Appellant) (Respondent)

Section 143(2)Section 143(3)Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’: NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER Assessment Year : 2011-12 M/s KSC Engineers vs. ACIT, Circle 14(2) Pvt.Ltd. Room No.311A 4-H, Gopala Tower 3rd Floor, C.R.Building Rajendra Place I.P.Estate New Delhi 110 008 New Delhi 110 002 PAN: AAACK6112C Assessment Year : 2011-12 ACIT, Circle 14(2) vs. M/s KSC Engineers Pvt.Ltd. Room No.311A 4-H, Gopala Tower 3rd Floor, C.R.Building Rajendra Place I.P.Estate New Delhi 110 008 New Delhi 110 002 PAN: AAACK6112C Assessment Year : 2012-13 M/s KSC Engineers vs. ACIT, C…