Lally Motors India (P.) Ltd. v. PCIT

93 Taxmann.com 39High Court2018#4402 most cited

What is Lally Motors India (P.) Ltd. v. PCIT authority for?

Disallowance of expenditure under Section 14A cannot exceed the income from the relevant exempt investments.

27

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2024.

Also referred to as

Lally Motors India · Section 14A · disallowance · exempt income · expenditure · interest · total income · dividend income

Also reported as

148 ITD 326

Sections most often in play

Section 143(3)Section 14ASection 115BBESection 115JBSection 133ASection 145(3)Section 14A(2)Section 14A(3)

Issues it is cited on

disallowance u/s 14asection 14acompanysection 14indiatotal incomeinterestsection 143(3)

Judgments citing Lally Motors India (P.) Ltd. v. PCIT

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. NARESH KUMAR GUPTA, SRIGANGANAGAR

In the results the appeal of the revenue stands dismissed and the

ITA 458/JPR/2024[2014-15]Status: DisposedITAT Jaipur28 Nov 2024AY 2014-15

Bench: Him The Order Passed Under Section 143(3) Of The Income Tax Act, [ For Short “Act” ] By The Acit, Circle, Sri Ganganagar [

For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Ms. Alka Gautam (CIT) (V.H.)
Section 143(3)Section 14ASection 36(1)(iii)

…आयकरअपीलीय अधिकरण] जयपुरन्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh]U;kf;dlnL; ,oa Jh jkBkSM+ deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 458/JPR/2024 fu/kZkj.k o"kZ@Assessment Year : 2014-15 cuke Deputy Commissioner of Sh. Naresh Kumar Gupta Vs. Income Tax, 168, New Mandi Yard, Central Circle-3, Sri Ganganagar-335001. Jaipur LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABMPK3234H vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 09/JPR/2024 (Arising out of ITA No. 458/JPR/202…

PEE KAY VANIJYA PVT. LTD.,KOLKATA vs. DCIT, CIR. 7(1), KOLKATA

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

ITA 851/KOL/2024[2017-18]Status: DisposedITAT Kolkata09 Sept 2024AY 2017-18

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishraassessment Year: 2017-18

For Appellant: Akkal Dudhwewala, ARFor Respondent: S.B. Chakraborthy, JCIT, Sr. DR
Section 143(3)Section 14ASection 234BSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA BEFORE SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Year: 2017-18 Pee Kay Vanijya Private Limited, DCIT, Circle-7(1), Kolkata, 7C, Kiran Shankar Roy Road, Aayakar Bhawan, P-7, Hasting Chambers, 4th Floor, Vs Chowringhee Square, Kolkata - 700001 Kolkata - 700069 (PAN: AABCP6488P) (Appellant) (Respondent) Present for: Appellant by : Akkal Dudhwewala, AR Respondent by : S.B. Chakraborthy, JCIT, Sr. DR Date of Hearing : 20.08.2024 Date of Pronouncement : 09.09.2024 O R D E R PER RAKESH MISHRA, ACCOUNTANT MEMB…

INDIABULLS REAL ESTATE LIMITED,NEW DELHI vs. DCIT CENTRAL CIRCLE 12(1), NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 5954/DEL/2019[2013-14]Status: DisposedITAT Delhi17 May 2024AY 2013-14

Bench: Shri M. Balaganesh & Shri Vimal Kumarm/S. Indiabulls Real Estate Ltd, Vs. Dcit, M-62 & 63, First Floor, Central Circle-12(1), Connaught Place, New Delhi New Delhi (Appellant) (Respondent) Pan:Aabci5194F

For Appellant: Shri Lalit Mohan, CAFor Respondent: Shri Sandip Kumar Mishra, Sr. DR
Section 143(3)Section 14ASection 14A(2)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER M/s. Indiabulls Real Estate Ltd, Vs. DCIT, M-62 & 63, First Floor, Central Circle-12(1), Connaught Place, New Delhi New Delhi (Appellant) (Respondent) PAN:AABCI5194F Assessee by : Shri Lalit Mohan, CA Shri Parth Singhal, Adv Revenue by: Shri Sandip Kumar Mishra, Sr. DR Date of Hearing 14/05/2024 Date of pronouncement /05/2024 O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.5954/Del/2019 for AY 2013-14, arises out of the order of the Commissioner of Income Tax (…

ACIT CENTRAL -2, INDORE vs. M/S KETI CONSTRUCTION LTD, INDORE

In the result, appeal of the Revenue is dismissed

ITA 96/IND/2022[2017-18]Status: DisposedITAT Indore30 Jan 2023AY 2017-18

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyaniassessment Year: 2017-18

For Appellant: Shri Somya Bumb, CAFor Respondent: Shri P.K. Mishra, CIT(DR)
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH: DB: INDORE BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER Assessment Year: 2017-18 The ACIT (Central)-2, M/s Keti Construction Ltd., Indore, MP 452001 Vastalya Chambers, Sapna vs. Sangeeta, 31/6, Sneh Nagar, Main Road, Indore, MP PAN AAACK6893Q (Appellant) (Respondent) For Revenue : Shri P.K. Mishra, CIT(DR) For Assessee : Shri Somya Bumb, CA Date of Hearing : 17.11.2022 Date of Pronouncement : 30.01.2023 ORDER PER CHANDRA MOHAN GARG, J.M. This appeal filed by the Revenue is directed against the order date…

GUARDIAN LIFECARE PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 10(2), NEW DELHI

In the result, appeal of the Revenue is partly allowed for 22

ITA 6152/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Oct 2022AY 2014-15

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaacit Vs. Guardian Lifecare Pvt. Ltd. Circle – 10(2) A-258, Okhla Industrial New Delhi Area, Phase-I, New Delhi-110 020 Pan No. Aabcg 9903 G (Appellant) (Respondent) & Guardian Lifecare Pvt. Ltd. Vs. Acit Wz-56, Second Floor, Circle – 10(2) Ram Nagar, Tilak Nagar, New Delhi New Delhi – 110018 Pan No. Aabcg 9903 G (Appellant) (Respondent) Assessee By -None- Revenue By Shri Hemant Gupta, Sr. D.R. Date Of Hearing: 03.10.2022 Date Of Pronouncement: 25.10.2022 Order Per Anil Chaturvedi, Am: These Two Cross Appeals Filed By The Revenue & Assessee Are Directed Against The Order Dated 14.06.2018 Passed By The 2 Commissioner Of Income Tax (Appeals)-35, New Delhi Relating To Assessment Year 2014-15. 2. Brief Facts Of The Case As Culled Out From The Material On Record Are As Under :-

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ACIT Vs. Guardian Lifecare Pvt. Ltd. Circle – 10(2) A-258, Okhla Industrial New Delhi Area, Phase-I, New Delhi-110 020 PAN No. AABCG 9903 G (APPELLANT) (RESPONDENT) And Guardian Lifecare Pvt. Ltd. Vs. ACIT WZ-56, Second Floor, Circle – 10(2) Ram Nagar, Tilak Nagar, New Delhi New Delhi – 110018 PAN No. AABCG 9903 G (APPELLANT) (RESPONDENT) Assessee by -None- Revenue by Shri Hemant Gupta, Sr. D.R. Date of hearing: 03.10.2022 Date of Pronouncement: 25.10.2022 ORDER PE…

ACIT, CIRCLE- 10(2), NEW DELHI vs. GUARDIAN LIFECARE PVT. LTD., NEW DELHI

In the result, appeal of the Revenue is partly allowed for 22

ITA 5874/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Oct 2022AY 2014-15

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaacit Vs. Guardian Lifecare Pvt. Ltd. Circle – 10(2) A-258, Okhla Industrial New Delhi Area, Phase-I, New Delhi-110 020 Pan No. Aabcg 9903 G (Appellant) (Respondent) & Guardian Lifecare Pvt. Ltd. Vs. Acit Wz-56, Second Floor, Circle – 10(2) Ram Nagar, Tilak Nagar, New Delhi New Delhi – 110018 Pan No. Aabcg 9903 G (Appellant) (Respondent) Assessee By -None- Revenue By Shri Hemant Gupta, Sr. D.R. Date Of Hearing: 03.10.2022 Date Of Pronouncement: 25.10.2022 Order Per Anil Chaturvedi, Am: These Two Cross Appeals Filed By The Revenue & Assessee Are Directed Against The Order Dated 14.06.2018 Passed By The 2 Commissioner Of Income Tax (Appeals)-35, New Delhi Relating To Assessment Year 2014-15. 2. Brief Facts Of The Case As Culled Out From The Material On Record Are As Under :-

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ACIT Vs. Guardian Lifecare Pvt. Ltd. Circle – 10(2) A-258, Okhla Industrial New Delhi Area, Phase-I, New Delhi-110 020 PAN No. AABCG 9903 G (APPELLANT) (RESPONDENT) And Guardian Lifecare Pvt. Ltd. Vs. ACIT WZ-56, Second Floor, Circle – 10(2) Ram Nagar, Tilak Nagar, New Delhi New Delhi – 110018 PAN No. AABCG 9903 G (APPELLANT) (RESPONDENT) Assessee by -None- Revenue by Shri Hemant Gupta, Sr. D.R. Date of hearing: 03.10.2022 Date of Pronouncement: 25.10.2022 ORDER PE…

DCIT, C-2, AJMER vs. JAI NARAYAN AGARWAL,, JAIPUR

In the result, appeal of the Revenue is dismissed

ITA 38/JPR/2022[2014-15]Status: DisposedITAT Jaipur16 Aug 2022AY 2014-15

Bench: Or At The Time Of Hearing.”

For Appellant: Shri Nikhelesh Kataria (C.A.) aFor Respondent: Ms. Monisha Choudhary (JCIT) fu/kZkfjrh dh vksj ls@
Section 142(1)Section 143(2)Section 143(3)Section 148Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR MkWa- ,e- ,y- ehuk] ys[kk lnL; ,oa MkWa- ,l- lhrky{eh] U;kf;d lnL; ds le{k BEFORE: DR. M.L. MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA. No. 38/JP/2022 fu/kZkj.k o"kZ@Assessment Years : 2014-15 cuke Dy. Commissioner of Income-tax, Jai Narayan Agarwal Circle-2, Vs. Near Agarsen Bhawan Street, Ajmer. Mandangaj, Kishangarh. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAPPA1532J vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@ Revenue by : Ms. Monisha Choudhary (JCIT) fu/kZkfjrh dh vksj ls@ A…

VIKAS OIL PRODUCTS,DAUSA vs. PCIT-1, JAIPUR, JAIPUR

In the result, this appeal of the assessee stands dismissed

ITA 28/JPR/2021[2011-12]Status: DisposedITAT Jaipur23 Nov 2021AY 2011-12

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am

For Appellant: Shri Rajiv Sogani (CA)For Respondent: Shri B.K. Gupta (Pr.CIT-DR)
Section 147Section 148Section 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “B”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 26/JP/2021 Assessment Year: 2011-12 JR Industries, cuke P.C.I.T-1 Vs. H-36-37-38, RIICO Industrial Area, Jaipur. Dausa, (Rajasthan) PAN No.: AAEFJ 4186 G vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 27/JP/2021 Assessment Year: 2011-12 OM Industries, cuke P.C.I.T-1 Vs. E-6A, Dausa, RIICO Industrial Area, Jaipur. Agra Road, Dausa, (Rajas…

OM INDUSTRIES,DAUSA vs. PCIT-1, JAIPUR, JIAPUR

In the result, this appeal of the assessee stands dismissed

ITA 27/JPR/2021[2011-12]Status: DisposedITAT Jaipur23 Nov 2021AY 2011-12

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am

For Appellant: Shri Rajiv Sogani (CA)For Respondent: Shri B.K. Gupta (Pr.CIT-DR)
Section 147Section 148Section 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “B”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 26/JP/2021 Assessment Year: 2011-12 JR Industries, cuke P.C.I.T-1 Vs. H-36-37-38, RIICO Industrial Area, Jaipur. Dausa, (Rajasthan) PAN No.: AAEFJ 4186 G vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 27/JP/2021 Assessment Year: 2011-12 OM Industries, cuke P.C.I.T-1 Vs. E-6A, Dausa, RIICO Industrial Area, Jaipur. Agra Road, Dausa, (Rajas…

JR INDUSTRIES,DAUSA vs. PCIT-1,JAIPUR, JAIPUR

In the result, this appeal of the assessee stands dismissed

ITA 26/JPR/2021[2011-12]Status: DisposedITAT Jaipur23 Nov 2021AY 2011-12

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am

For Appellant: Shri Rajiv Sogani (CA)For Respondent: Shri B.K. Gupta (Pr.CIT-DR)
Section 147Section 148Section 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “B”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 26/JP/2021 Assessment Year: 2011-12 JR Industries, cuke P.C.I.T-1 Vs. H-36-37-38, RIICO Industrial Area, Jaipur. Dausa, (Rajasthan) PAN No.: AAEFJ 4186 G vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 27/JP/2021 Assessment Year: 2011-12 OM Industries, cuke P.C.I.T-1 Vs. E-6A, Dausa, RIICO Industrial Area, Jaipur. Agra Road, Dausa, (Rajas…

DCIT, NEW DELHI vs. M/S. RRPR HOLDING PVT. LTD., NEW DELHI

In the result, the appeal filed by the Revenue in ITA No

ITA 192/DEL/2013[2009-10]Status: DisposedITAT Delhi18 Aug 2021AY 2009-10

Bench: Shri N.K. Billaiya & Shri Pawan Singh[A.Y 2009-10]

For Appellant: Shri Sachit Jolly, AdvFor Respondent: Smt. Sushma Singh, CIT- DR
Section 14A

…e assessee in relation to the tax exempt income". This proportion or portion of the tax exempt income surely cannot swallow the entire amount as has happened in this case. “ 11. The ld. DR has relied upon the decision of the Amritsar Bench of the Tribunal in 93 Taxmann.com 39 but we are of the opinion that the same is not relevant considering the ratio laid down by the Hon'ble Jurisdiction High Court Delhi [supra]. 12. Respectfully following the ratio laid down by the Hon'ble High Court of Delhi [supra] we direct the Assessing Officer to restrict the disallowance to the extent of exempt income which is Rs. 37…

SHREE CEMENT LIMITED,BEAWAR vs. PR.CIT, , UDAIPUR

In the result, the appeal of the assessee is allowed

ITA 4/JPR/2021[2014-15]Status: DisposedITAT Jaipur23 Jun 2021AY 2014-15

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 04/Jp/2021 Assessment Year: 2014-15 Shree Cement Limited, Cuke Pr.Cit, Vs. Bangur Nagar, Post Box No. 33, Udaipur. Beawar. Pan No.: Aaccs 8796 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Dilip Desai (Ca) Shri Vijay Shah (Ca) Shri Mohit Choudhary (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 01/04/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 23/06/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of Ld. Pcit, Udaipur Dated 03.02.2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short The Act) For The Assessment Year 2014-15. The Grounds Of Appeal Taken By The Assessee Are As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Principal Commissioner Of Income Tax – Udaipur, (Here- In- After Referred To As Ld. Pr. Cit) Was Not Justified In Initiating Proceedings U/S 263 Of The Income Tax Act, 1961 Since The Order Passed By The Assessing Officer (A.O.) Was Neither Erroneous Nor Prejudicial To The Interest Of The Revenue.

For Appellant: Shri Dilip Desai (CA)For Respondent: Shri B.K. Gupta (CIT-DR)
Section 115JSection 142(1)Section 143(2)Section 143(3)Section 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “B”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 04/JP/2021 Assessment Year: 2014-15 Shree Cement Limited, cuke Pr.CIT, Vs. Bangur Nagar, Post Box No. 33, Udaipur. Beawar. PAN No.: AACCS 8796 G vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by: Shri Dilip Desai (CA) Shri Vijay Shah (CA) Shri Mohit Choudhary (CA) jktLo dh vksj ls@ Revenue by : Shri B.K. Gupta (CIT-DR) lquokbZ d…

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(1), HYDERABAD vs. INDU PROJECTS LIMITED , HYDERABAD

Appeals is dismissed"

ITA 2044/HYD/2018[2014-15]Status: DisposedITAT Hyderabad04 May 2021AY 2014-15

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri Md.Afzal, ARFor Respondent: Dr.Dipak R., DR
Section 143(3)Section 14A

…T 'A' Bench, Hyderabad, held as under: "3. The learned DR supported the order of the AO and also placed reliance upon the decision of the Coordinate Bench of the Tribunal at ITAT Amritsar in the case of Lally Motors India (P) Ltd vs. Pr.CIT reported in (2018) 93 Taxmann.com 39 (Amritsar - Trib.) whereas the learned Counsel for the assessee has placed reliance upon the following decisions: i) Hon'ble Delhi High Court in the case of Jt.Investments (P) Ltd vs. CIT in ITA No.117/2015 dated 25th February 2015. ii) ITAT Hyderabad in the case of Kamadhenu Sukrit Put Ltd vs. ITO in ITA No.460/Hyd/ 2017, dated 22.11.2017…

ACIT, NEW DELHI vs. M/S. INDIABULLS FINANCIAL SERVICES LTD., NEW DELHI

In the result, both the appeals of the revenue are dismissed

ITA 6603/DEL/2016[2012-13]Status: DisposedITAT Delhi11 Mar 2020AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 6602/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner Of Vs M/S Indiabulls Real Estate Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aabci5194F

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Sh. Rajesh Kumar Kedia, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 6602/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner of Vs M/s Indiabulls Real Estate Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AABCI5194F ITA No. 6603/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner of Vs M/s Indiabulls Financial Services Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (APPELLANT) (RESPONDENT) PA…

ACIT, NEW DELHI vs. M/S. INDIABULLS REAL ESTATE LTD., NEW DELHI

In the result, both the appeals of the revenue are dismissed

ITA 6602/DEL/2016[2012-13]Status: DisposedITAT Delhi11 Mar 2020AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 6602/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner Of Vs M/S Indiabulls Real Estate Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aabci5194F

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Sh. Rajesh Kumar Kedia, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 6602/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner of Vs M/s Indiabulls Real Estate Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AABCI5194F ITA No. 6603/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner of Vs M/s Indiabulls Financial Services Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (APPELLANT) (RESPONDENT) PA…

M/S. SRI VISHNU SHANKAR MILLS LTD.,RAJAPALAYAM vs. ITO, CORP WARD 1, MADURAI

In the result, the appeal filed by assessee in ITA No

ITA 577/CHNY/2019[2014-15]Status: DisposedITAT Chennai27 Feb 2020AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar"नधा'रण वष' /Assessment Year: 2014-15

For Appellant: Mr. A.R.V.Sreenivasan, JCIT
Section 115JSection 143(3)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 "ी र!मत कोचर, लेखा सद"य के सम& BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER "नधा'रण वष' /Assessment Year: 2014-15 v. M/s. Sri Vishnu Shankar Mill Ltd., The Income Tax Officer, Sri Vishnu Shankar Mill Premises, Corporate Ward-1, P.A.C.Ramasamy Raja Salai, CR Building, 2 V P Post Box No.109, Rathinasamy Nadar Road, Rajapalayam-626 117, Tamil Nadu Bibikulam, Madurai-625 002, Tamil Nadu [PAN: AACCS 0536 Q] (अपीलाथ*/Appellant) (+,यथ*/Respondent)…

SUBBURAAJ COTTON MILL PRIVATE LIMITED,RAJAPALAYAM vs. ACIT CORPORATE CIRCLE 2, MADURAI

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

ITA 1233/CHNY/2019[2014-15]Status: DisposedITAT Chennai21 Aug 2019AY 2014-15

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.1233/Chny/2019 "नधा"रण वष"/Assessment Year:2014-15

For Appellant: Shri A.R.V. Sreenivasan, JCITFor Respondent: 28.07.2019
Section 14A

…आयकर अपील"य अ"धकरण, ‘‘ए” "यायपीठ, चे"नई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी धु"वु" आर.एल रे"डी, "या"यक सद"य एवं एस जयरामन, लेखा सद"य के सम" Before Shri Duvvuru RL Reddy, Judicial Member & Shri S. Jayaraman, Accountant Member आयकर अपील सं./I.T.A.No.1233/Chny/2019 "नधा"रण वष"/Assessment Year:2014-15 M/s. Subburaaj Cotton Mill Pvt. Ltd., The Asst. Commissioner of Income Tax, Mill Premises, Vs. Corporate Circle-2, Srivilliputtur Road, Rajapalayam, Madurai. Tamil Nadu. [PAN: AADCS 8760K] (अपीलाथ" /Appellant) (""यथ"/Respondent) Shri V.Srikrishnan, C.A अपीलाथ" क" ओर से / Appellant by : Shri A.R.…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(2), MUMBAI vs. ASSOCIATE HOLDINGS PRIVATE LIMITED, MUMBAI

In the result, appeals of the Revenue and cross objections of the assessee are dismissed

ITA 7092/MUM/2017[2013-14]Status: DisposedITAT Mumbai08 May 2019AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri K. Gopal &For Respondent: Shri Anadi Varma
Section 14Section 14A

…sociate Holdings Pvt. Ltd. 4. Ld. DR however strongly supporting the orders of the Assessing Officer also placed reliance on the decisions in the cases of Lally Motors India (P.) Ltd v. PCIT [170 ITD 370 (ASR)], in the case of J.H. Fin Vest (P.) Ltd. v. DCIT [148 ITD 326 (Del)] and Doubledot Finance Ltd v. DCIT [65 SOT 324 (Mum)]. 5. We have heard the rival submissions, perused the orders of the Authorities below. On a perusal of the decision of the Coordinate Bench, we find that identical issue came up for hearing for the A.Y. 2011-12 wherein the Tribunal sustained the order of the Ld.CIT(A) in restricting the…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(2), MUMBAI vs. ASSOCIATE HOLDINGS PRIVATE LIMITED, MUMBAI

In the result, appeals of the Revenue and cross objections of the assessee are dismissed

ITA 7074/MUM/2017[2012-13]Status: DisposedITAT Mumbai08 May 2019AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri K. Gopal &For Respondent: Shri Anadi Varma
Section 14Section 14A

…sociate Holdings Pvt. Ltd. 4. Ld. DR however strongly supporting the orders of the Assessing Officer also placed reliance on the decisions in the cases of Lally Motors India (P.) Ltd v. PCIT [170 ITD 370 (ASR)], in the case of J.H. Fin Vest (P.) Ltd. v. DCIT [148 ITD 326 (Del)] and Doubledot Finance Ltd v. DCIT [65 SOT 324 (Mum)]. 5. We have heard the rival submissions, perused the orders of the Authorities below. On a perusal of the decision of the Coordinate Bench, we find that identical issue came up for hearing for the A.Y. 2011-12 wherein the Tribunal sustained the order of the Ld.CIT(A) in restricting the…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(2), MUMBAI vs. ASSOCIATE HOLDINGS PRIVATE LIMITED, MUMBAI

In the result, appeals of the Revenue and cross objections of the assessee are dismissed

ITA 7073/MUM/2017[2014-15]Status: DisposedITAT Mumbai08 May 2019AY 2014-15

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri K. Gopal &For Respondent: Shri Anadi Varma
Section 14Section 14A

…sociate Holdings Pvt. Ltd. 4. Ld. DR however strongly supporting the orders of the Assessing Officer also placed reliance on the decisions in the cases of Lally Motors India (P.) Ltd v. PCIT [170 ITD 370 (ASR)], in the case of J.H. Fin Vest (P.) Ltd. v. DCIT [148 ITD 326 (Del)] and Doubledot Finance Ltd v. DCIT [65 SOT 324 (Mum)]. 5. We have heard the rival submissions, perused the orders of the Authorities below. On a perusal of the decision of the Coordinate Bench, we find that identical issue came up for hearing for the A.Y. 2011-12 wherein the Tribunal sustained the order of the Ld.CIT(A) in restricting the…

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Lally Motors India (P.) Ltd. v. PCIT (93 Taxmann.com 39) — Cited in 27 Judgments | BharatTax