Ltd. v. DCIT

22 SOT 7Income Tax Appellate Tribunal2008#848 most cited

What is Ltd. v. DCIT authority for?

An adverse inference cannot be drawn against an assessee based on a document found with a third party during a search, as possession is only attributable to the searched person. An addition to income based solely on an undated, unsigned seized document, without further corroborative evidence or inquiry, is not sustainable.

123

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2010 to 2025.

Also referred to as

SMC Share Brokers Ltd. v. DCIT · Section 153C · Section 132 · Section 69 · document seized · third party possession · adverse inference · undated unsigned document · unexplained investment · block assessment · incriminating evidence

Also reported as

102 TTJ 235152 ITD 320

Sections most often in play

Section 153CSection 131Section 132(4)Section 292CSection 132(4A)Section 271AABSection 69Section 132

Issues it is cited on

section 153c(1)section 132(4a)section 292csection 34satisfaction notesection 132(1)loose paperssection 153a(1)documents seizedsection 292section 158bsection 132a

Judgments citing Ltd. v. DCIT

M/S Orkla Asia Pacific Pte Ltd, Bangalore vs. Deputy Commissioner of Income Tax (It) Circle-2(1), Bangalore

In the result, the appeal of the assessee stands allowed

ITA 193/BANG/2019[2015-16]Status: DisposedITAT Bangalore30 Dec 2021AY 2015-16

Bench: Shri. B.R. Baskaran & Smt. Beena Pillaiassessment Year : 2015-16 M/S. Orkla Asia Pacific Pte Ltd., The Deputy C/O Mtr Foods Pvt. Ltd., Commissioner Of No. 1, 2Nd & 3Rd Floor, Income Tax (It), 100 Feet Inner Ring Road, Asmnt, Circle – 2(1), Ejipura, Vs. Bangalore. Bangalore – 560 047. Pan: Aabco4087B Appellant Respondent Assessee By : Shri Sharath Rao, Advocate : Shri Pradeep Kumar, Cit Revenue By (Dr) Date Of Hearing : 03-11-2021 Date Of Pronouncement : 30-12-2021 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Final Assessment Order Dated 17/12/2018 Passed U/S. 143 (3) By The Ld.Dcit, Asmnt, Circle-2(1), Bangalore For Assessment Year 2015-16 On Following Grounds Of Appeal: “The Grounds Mentioned Hereinafter Are Without Prejudice To One Another. 1. Barred By Limitation The Order Passed By The Learned Assessing Officer ('Learned Ao') Is Barred By Limitation In View Of The Express Provisions Of Section 144C(13) Of The Income-Tax Act, 1961 ('The Act') Wherein, The Order Should Be Passed Within One Month From The End Of The Month In Which Dispute

For Appellant: Shri Sharath Rao, Advocate
Section 143Section 144C(13)Section 234ASection 234BSection 9(1)(vii)

…xmann.com 96 (AAR)  GVK Industries Ltd (2015) 54 Taxmann 347 (SC) The AR has relied on the below mentioned decisions:  Commissioner of Income tax vs. De beers India Minerals (P) Ltd (2012) 21 taxmann.com  214 (HC) (Kar) Page 8 of 26  Raymond Ltd vs DCIT (80 TTJ 120) (Mum 1TAT)  Shell International B.V vs ITO (2013) 37 taxmann.com 142 (Ahmedabad Trib)  Batliwala & Karani Securities (India) (P) Ltd vs DCIT, Circle-5, Kolkata(2016) 71 taxmann.com 142 (Kolkata Trib)  Lufthansa Cargo India (P) Ltd vs DCIT (2004) 91 ITD 133  DIT Vs. Lufthansa Cargo India (2015) 60 taxmann.com 187 (Delhi)  Titan Industries Ltd…

J and P Coats Limited, Bangaluru vs. Deputy Commissioner of Income Tax (International Taxation), Circle 1(2), Bangalore

In the result, the appeals are allowed

ITA 1367/BANG/2019[2015-16]Status: DisposedITAT Bangalore29 Nov 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Ajay Rotti, CAFor Respondent: Shri K. V. Arvind, Standing Counsel for Department
Section 143(3)Section 144C(13)

…he service may require technical input by the person providing the service does not per se mean that technical knowledge, skills, etc. are made available to the person purchasing the service. Airports Authority of India 273 ITR 437 (AAR) Raymond Ltd v DCIT 80 TTJ 120 (Bombay Tribunal) De Beers India Private Limited - ITA No: 3402/B/04 (Bangalore Tribunal) It was submitted that in the instant case, the entire work of providing connectivity is carried out by BT using its own technology and agents. It was submitted that there is no transfer of technology at any point of time when connectivity is provided by BT…

J and P Coats Limited, Bengaluru vs. Deputy Commissioner of Income Tax (International Taxation), Circle 1(2), Bangalore

In the result, the appeals are allowed

ITA 1366/BANG/2019[2014-15]Status: DisposedITAT Bangalore29 Nov 2021AY 2014-15

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Ajay Rotti, CAFor Respondent: Shri K. V. Arvind, Standing Counsel for Department
Section 143(3)Section 144C(13)

…he service may require technical input by the person providing the service does not per se mean that technical knowledge, skills, etc. are made available to the person purchasing the service. Airports Authority of India 273 ITR 437 (AAR) Raymond Ltd v DCIT 80 TTJ 120 (Bombay Tribunal) De Beers India Private Limited - ITA No: 3402/B/04 (Bangalore Tribunal) It was submitted that in the instant case, the entire work of providing connectivity is carried out by BT using its own technology and agents. It was submitted that there is no transfer of technology at any point of time when connectivity is provided by BT…

J and P Coats Limited, Bengaluru vs. Deputy Commissioner of Income Tax (International Taxation), Circle 1(1), Bangalore

In the result, the appeals are allowed

ITA 1365/BANG/2019[2013-14]Status: DisposedITAT Bangalore29 Nov 2021AY 2013-14

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Ajay Rotti, CAFor Respondent: Shri K. V. Arvind, Standing Counsel for Department
Section 143(3)Section 144C(13)

…he service may require technical input by the person providing the service does not per se mean that technical knowledge, skills, etc. are made available to the person purchasing the service. Airports Authority of India 273 ITR 437 (AAR) Raymond Ltd v DCIT 80 TTJ 120 (Bombay Tribunal) De Beers India Private Limited - ITA No: 3402/B/04 (Bangalore Tribunal) It was submitted that in the instant case, the entire work of providing connectivity is carried out by BT using its own technology and agents. It was submitted that there is no transfer of technology at any point of time when connectivity is provided by BT…

J & P Coats Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, the appeals are allowed

ITA 2135/BANG/2016[2012-13]Status: DisposedITAT Bangalore29 Nov 2021AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Ajay Rotti, CAFor Respondent: Shri K. V. Arvind, Standing Counsel for Department
Section 143(3)Section 144C(13)

…he service may require technical input by the person providing the service does not per se mean that technical knowledge, skills, etc. are made available to the person purchasing the service. Airports Authority of India 273 ITR 437 (AAR) Raymond Ltd v DCIT 80 TTJ 120 (Bombay Tribunal) De Beers India Private Limited - ITA No: 3402/B/04 (Bangalore Tribunal) It was submitted that in the instant case, the entire work of providing connectivity is carried out by BT using its own technology and agents. It was submitted that there is no transfer of technology at any point of time when connectivity is provided by BT…

J & P Coats Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeals are allowed

ITA 382/BANG/2015[2010-11]Status: DisposedITAT Bangalore29 Nov 2021AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Ajay Rotti, CAFor Respondent: Shri K. V. Arvind, Standing Counsel for Department
Section 143(3)Section 144C(13)

…he service may require technical input by the person providing the service does not per se mean that technical knowledge, skills, etc. are made available to the person purchasing the service. Airports Authority of India 273 ITR 437 (AAR) Raymond Ltd v DCIT 80 TTJ 120 (Bombay Tribunal) De Beers India Private Limited - ITA No: 3402/B/04 (Bangalore Tribunal) It was submitted that in the instant case, the entire work of providing connectivity is carried out by BT using its own technology and agents. It was submitted that there is no transfer of technology at any point of time when connectivity is provided by BT…

J & P Coats Limited, U.K vs. DCIT, Bangalore

In the result, the appeals are allowed

ITA 1493/BANG/2015[2011-12]Status: DisposedITAT Bangalore29 Nov 2021AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Ajay Rotti, CAFor Respondent: Shri K. V. Arvind, Standing Counsel for Department
Section 143(3)Section 144C(13)

…he service may require technical input by the person providing the service does not per se mean that technical knowledge, skills, etc. are made available to the person purchasing the service. Airports Authority of India 273 ITR 437 (AAR) Raymond Ltd v DCIT 80 TTJ 120 (Bombay Tribunal) De Beers India Private Limited - ITA No: 3402/B/04 (Bangalore Tribunal) It was submitted that in the instant case, the entire work of providing connectivity is carried out by BT using its own technology and agents. It was submitted that there is no transfer of technology at any point of time when connectivity is provided by BT…

M/S. Edelweiss Broking Limited, Ahmedabad vs. The DCIT, Circle-1(3), Ahmedabad

Appeal of the Revenue is dismissed whereas the ground of appeal of the assessee is allowed

ITA 2021/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad26 Oct 2021AY 2013-14

Bench: Shri Mahavir Prasad & Shri Wassem Ahmedआयकर अपील सं./I.T.A. No. 2021/Ahd/2017 ("नधा"रण वष" / Assessment Year: 2013-14) M/S. Edelweiss Broking Ltd. Dcit बनाम/ (On Behalf Of Amalgamating Cricle-1(3), Vs. 1St Floor, B-109, Company, Edelweiss Financial Advisors Ltd.) Pratyaksh Kar Bhavan, Nr. 801-804, 8Th Floor, Abhishree Panjrapole, Ambawadi, Avenue, Opp. Hanumanji Ahmedabad-380015 Temple, Nehrunagar, Ambawadi, Ahmedabad- 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce9421H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Shri Vartik Chokshi, AR
Section 40

…Accordingly, we conclude that the provisions of explanation to Section 73 of the Act cannot be applied to the case on hand. In holding so we find support and guidance from the order of this Tribunal in the case of Parker securities Ltd versus DCIT reported in 102 TTJ 235 wherein it was held as under: "Explanation to Section 73 provides that where any part of the business of a company (other than certain specified companies as mentioned in the Explanation) consists in the purchase and sale of .-shares of other companies, such company shall, for the purposes of this Section, be deemed to be carrying on a speculatio…

DCIT, Circle-1(3), Ahmedabad vs. Edelweiss Broking Ltd.(on Behalf of Amalgamating Company Edelweiss Financial Advisors Ltd.), Ahmedabad

Appeal of the Revenue is dismissed whereas the ground of appeal of the assessee is allowed

ITA 1939/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad26 Oct 2021AY 2013-14

Bench: Shri Mahavir Prasad & Shri Wassem Ahmedआयकर अपील सं./I.T.A. No. 2021/Ahd/2017 ("नधा"रण वष" / Assessment Year: 2013-14) M/S. Edelweiss Broking Ltd. Dcit बनाम/ (On Behalf Of Amalgamating Cricle-1(3), Vs. 1St Floor, B-109, Company, Edelweiss Financial Advisors Ltd.) Pratyaksh Kar Bhavan, Nr. 801-804, 8Th Floor, Abhishree Panjrapole, Ambawadi, Avenue, Opp. Hanumanji Ahmedabad-380015 Temple, Nehrunagar, Ambawadi, Ahmedabad- 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce9421H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Shri Vartik Chokshi, AR
Section 40

…Accordingly, we conclude that the provisions of explanation to Section 73 of the Act cannot be applied to the case on hand. In holding so we find support and guidance from the order of this Tribunal in the case of Parker securities Ltd versus DCIT reported in 102 TTJ 235 wherein it was held as under: "Explanation to Section 73 provides that where any part of the business of a company (other than certain specified companies as mentioned in the Explanation) consists in the purchase and sale of .-shares of other companies, such company shall, for the purposes of this Section, be deemed to be carrying on a speculatio…

ACIT, Central Circle- 30, New Delhi vs. Sarvottam Commodities Pvt. Ltd., New Delhi

ITA 4059/DEL/2017[2008-09]Status: DisposedITAT Delhi09 Jul 2021AY 2008-09

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sushma Singh, CIT-D.R
Section 132(1)Section 153ASection 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F” NEW DELHI (Through Video Conferencing) BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND Dr. B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.As. No.4059/DEL/2017 Assessment Years: 2008-09 ACIT, Vs. Sarvottam Commodities Pvt. Central Circle-30, Ltd. New Delhi. 303, Himaland House, D-5, Karampura Commercial Complex, New Delhi. TAN/PAN: AALCS2583C (Appellant) (Respondent) Assessee by: Shri Ajay Wadhwa, Adv. Department by: Shri Sushma Singh, CIT-D.R. Date of hearing: 12 04 2021 Date of pronouncement: 9 07 2021 O R D E R PER AMIT SHUKLA, JM The aforesaid appeal pertaining to…

ACIT, CC-30, New Delhi vs. Sanskriti Tie Up Pvt. Ltd., New Delhi

ITA 4058/DEL/2017[2008-09]Status: DisposedITAT Delhi09 Jul 2021AY 2008-09

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sushma Singh, CIT-D.R
Section 132(1)Section 153ASection 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F” NEW DELHI (Through Video Conferencing) BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND Dr. B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.As. No.4058/DEL/2017 Assessment Years: 2008-09 ACIT, Vs. M/s. Sanskriti Tie Up Pvt. Central Circle-30, Ltd., New Delhi. 203, Puja House, Karampura Commerical Complex, New Delhi. TAN/PAN: AALCS2575G (Appellant) (Respondent) Assessee by: Shri Ajay Wadhwa, Adv. Department by: Shri Sushma Singh, CIT-D.R. Date of hearing: 12 04 2021 Date of pronouncement: 09 07 2021 O R D E R PER AMIT SHUKLA, JM : The aforesaid appeal pertaining to A.Y.2…

ACIT, CC-30, New Delhi vs. Amarjyoti Vanijya Pvt. Ltd., New Delhi

ITA 4045/DEL/2017[2007-08]Status: DisposedITAT Delhi09 Jul 2021AY 2007-08

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sushma Singh, CIT-D.R
Section 132(1)Section 153ASection 153CSection 68Section 88

…r judgements such as R.L. Allied Services – (54 taxmann.com 222), Inlay Marketing Private Ltd. (60 taxmann.com 431, Lairy Distributors Pvt. Ltd. (74 taxmann.com 122), Champak NiketanPvt. Ltd. (ITA No. 5692/Del/2016), DSL Properties (P.) Ltd. v. Dy. CIT [2013] 60 SOT 88/33 taxmann.com 420 (Delhi - Trib.) 9. The ld. Counsel for the appellant also filed the detailed submissions on this ground which are reproduced as under:- Synopsis Brief Facts: 1. The appellant was incorporated on 02.01.2007 and was engaged in the business of investment and sale purchase of shares during the relevant assessment year. It filed its…

ACIT, CC- 30, New Delhi vs. Ankit Nivesh & Management Pvt. Ltd., New Delhi

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

ITA 4052/DEL/2017[2008-09]Status: DisposedITAT Delhi18 Jun 2021AY 2008-09

Bench: Shri Amit Shukla & Shri B.R.R. Kumar

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sushma Singh, CIT-D.R
Section 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F” NEW DELHI (Through Video Conferencing) BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.As. No.4051, 4052/DEL/2017 Assessment Years: 2007-08, 2008-09 ACIT, Vs. M/s. Ankit Nivesh & Central Circle-30, Management Pvt. Ltd., New Delhi. 203 Puja House, Karampura Commercial Complex, New Delhi. TAN/PAN: AACCA2546A (Appellant) (Respondent) Appellant by: Shri Ajay Wadhwa, Adv. Respondent by: Shri Sushma Singh, CIT-D.R. Date of hearing: 24/03/2021 Date of pronouncement: 18/06/2021 O R D E R PER AMIT SHUKLA, JM The aforesaid app…

ACIT, CC- 30, New Delhi vs. Ankit Nivesh & Management Pvt. Ltd., New Delhi

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

ITA 4051/DEL/2017[2007-08]Status: DisposedITAT Delhi18 Jun 2021AY 2007-08

Bench: Shri Amit Shukla & Shri B.R.R. Kumar

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sushma Singh, CIT-D.R
Section 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F” NEW DELHI (Through Video Conferencing) BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.As. No.4051, 4052/DEL/2017 Assessment Years: 2007-08, 2008-09 ACIT, Vs. M/s. Ankit Nivesh & Central Circle-30, Management Pvt. Ltd., New Delhi. 203 Puja House, Karampura Commercial Complex, New Delhi. TAN/PAN: AACCA2546A (Appellant) (Respondent) Appellant by: Shri Ajay Wadhwa, Adv. Respondent by: Shri Sushma Singh, CIT-D.R. Date of hearing: 24/03/2021 Date of pronouncement: 18/06/2021 O R D E R PER AMIT SHUKLA, JM The aforesaid app…

Clsa India P.Ltd, Mumbai vs. Asst CIT RG 4(1), Mumbai

ITA 4824/MUM/2015[2003-04]Status: DisposedITAT Mumbai14 Dec 2020AY 2003-04

Bench: Shri Pramod Kumar & Shri Ravish Soodclsa India Private Limited Acit, Range-4(1) 6Th Floor, Room No.640, (Formerly Clsa India Limited) 8/F Dalamal House, Vs. Aayakar Bhavan, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 Pan – Aaacc2262K (Appellant) (Respondent)

For Appellant: Shri Mukesh Butani &For Respondent: Shri Akhtar Hussain Ansari, D.R
Section 143(3)Section 250Section 253(1)Section 92CSection 92C(3)

…peculation loss. In support of his aforesaid contention the ld. A.R relied on certain judicial pronouncements viz. (i) CIT-4 Vs. HSBC Securities & Capital Markets (I) Pvt. Ltd. (2015) 379 ITR 146 (Bom); (ii) Parkar Securities ltd. Vs. DCIT, Circle 2(5) (2006) 102 TTJ 235 (Ahd); and (iii) ACIT Vs. Subhash Chandra Shorewala (2004) 91 TTJ 57 (Del). Lastly, it was submitted by the ld. A.R that the lower authorities had erred in not following the directions that were given by the CIT(A) while disposing off ITA No.4824/Mum/2015 AY. 2003-04 9 CLSA India Private Limited Vs. ACIT, Range-4(1) the assessee‟s appeal for A.Y…

The DCIT, Circle-1(3), Ahmedabad vs. Edelweiss Broking Ltd., Ahmedabad

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

ITA 446/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2012-13

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…Accordingly, we conclude that the provisions of explanation to Section 73 of the Act cannot be applied to the case on hand. In holding so we find support and guidance from the order of this Tribunal in the case of Parker securities Ltd versus DCIT reported in 102 TTJ 235 wherein it was held as under: “Explanation to Section 73 provides that where any part of the business of a company (other than certain specified companies as mentioned in the Explanation) consists in the purchase and sale of shares of other companies, such company shall, for the purposes of this Section, be deemed to be carrying on a speculation…

The DCIT, Circle-1(3), Ahmedabad vs. Edelweiss Financial Advisors Ltd., ( Formerly Known Anagram Stock Broking Ltd., Ahmedabad

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

ITA 445/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2011-12

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…Accordingly, we conclude that the provisions of explanation to Section 73 of the Act cannot be applied to the case on hand. In holding so we find support and guidance from the order of this Tribunal in the case of Parker securities Ltd versus DCIT reported in 102 TTJ 235 wherein it was held as under: “Explanation to Section 73 provides that where any part of the business of a company (other than certain specified companies as mentioned in the Explanation) consists in the purchase and sale of shares of other companies, such company shall, for the purposes of this Section, be deemed to be carrying on a speculation…

M/S. Edelweiss Broking Ltd. ( Amalgamating Company Edelweiss Financial Advisors Ltd.), Ahmedabad vs. The Jt. CIT, Range-3, Ahmedabad

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

ITA 318/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2011-12

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…Accordingly, we conclude that the provisions of explanation to Section 73 of the Act cannot be applied to the case on hand. In holding so we find support and guidance from the order of this Tribunal in the case of Parker securities Ltd versus DCIT reported in 102 TTJ 235 wherein it was held as under: “Explanation to Section 73 provides that where any part of the business of a company (other than certain specified companies as mentioned in the Explanation) consists in the purchase and sale of shares of other companies, such company shall, for the purposes of this Section, be deemed to be carrying on a speculation…

Steria (India) Ltd., Noida vs. Addl. CIT, Spl. Range- 8, New Delhi

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

ITA 5745/DEL/2018[2014-15]Status: DisposedITAT Delhi28 Sept 2020AY 2014-15

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Sh. Anupam Kant Garg, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…ndia Ltd: ITA No. - 756/Del/2009 dated 03.08.2015 (Del) Perfect Circle India Ltd v. DCIT: ITA No. - 7241/Mum/2012 dated 27.03.2015 (Mum) DCIT vs. Kotak Mahindra Investment Ltd: 59 SOT 4 - (Mum) Quality Engineering & Software Technologies (P.) - Ltd. vs. DCIT: 152 ITD 320 ACIT vs. Sri Ramalingeswara Rice & Oil Mill: 162 - ITD 696 (Visakhapatnam) Inventurus Knowledge Services (P.) Ltd. vs. Income - Tax Officer: 45 ITR(T) 57 (Mum) (xiii) Having regard to the aforesaid settled legal position, loss or gain arising on trading account due to exchange rate fluctuation is, in our respectful submission, to be treated on r…

M/S Steria Ndia Ltd., Noida vs. Addl CIT, New Delhi

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

ITA 741/DEL/2017[2012-13]Status: DisposedITAT Delhi28 Sept 2020AY 2012-13

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Sh. Anupam Kant Garg, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…ndia Ltd: ITA No. - 756/Del/2009 dated 03.08.2015 (Del) Perfect Circle India Ltd v. DCIT: ITA No. - 7241/Mum/2012 dated 27.03.2015 (Mum) DCIT vs. Kotak Mahindra Investment Ltd: 59 SOT 4 - (Mum) Quality Engineering & Software Technologies (P.) - Ltd. vs. DCIT: 152 ITD 320 ACIT vs. Sri Ramalingeswara Rice & Oil Mill: 162 - ITD 696 (Visakhapatnam) Inventurus Knowledge Services (P.) Ltd. vs. Income - Tax Officer: 45 ITR(T) 57 (Mum) (xiii) Having regard to the aforesaid settled legal position, loss or gain arising on trading account due to exchange rate fluctuation is, in our respectful submission, to be treated on r…