Maruti Udyog v. DCIT

Mmtc Ltd vs. DCIT, Circle-5(1)

The appeal is allowed, with aforesaid consequences, as directed in ground wise findings

Bench: Sh. G.S.Pannu, Hon’Ble & Sh. Anubhav Sharmam/S. Mmtc Ltd., Scope Vs. Dcit, Complex, Circle-5(1) Core 1,7, Institutional Area, New Delhi Lodhi Road, New Delhi- 110003 Pan : (Appellant) (Respondent)

…file of Assessing Officer for deciding afresh. 5. Miscellaneous application No. 276/Del/2007 was filed and the question of interest received on loans and advances to the staff was sought to be revisited in the light of judgment in Maruti Udyog Ltd. vs. DCIT 92 ITD 119. The bench had considered the submissions and made certain amendments in the directions M/s. MMTC Ltd. 4 which were issued to the Assessing officer to consider the assessee’s claim afresh. 6. However, the ground no. 4 as raised in the appeal was found to be inadvertently left to be decided and considering the same to be error apparent from the r…

Sarva Haryana Gramin Bank, Rohtak vs. ACIT, Rohtak Circle, Rohtak

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

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…d that assessee has sufficient interest free funds to make investment in tax free bonds/debentures/mutual funds/shares etc. and bank has not incurred any interest expenditure. In this regard, assessee has referred to the decision of Maruti Udyog Ltd. vs. DCIT 92 ITD 119 (Del.). Certain other case laws have been referred and also referred the decision of ITAT in assessee’s own case in ITA No.4073/Del/2018 for AY 2014-15 order dated 25.10.2021. 9. Per contra, ld. DR for the Revenue relied upon the orders of the authorities below. 10. We note that ITAT in assessee’s own case for AY 2014-15 (supra) has dealt with the…

Sarva Haryana Gramin Bank, Rohtak vs. ACIT, Rohtak Circle, Rohtak

In the result, the appeal of the assessee is partly allowed for statistical purposes

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘G’ : NEW DELHI) SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.1984/Del./2019 (ASSESSMENT YEAR : 2015-16) Sarva Haryana Gramin Bank, vs. ACIT, Rohtak Circle, SHGB House, Plot No.1, Sector 3, Rohtak. Rohtak – 124 001 (Haryana). (PAN : AAKAS1464M) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Vivek Gupta, Advocate REVENUE BY : Shri Abhishek Kumar, Sr. DR Date of Hearing : 19.10.2022 Date of Order : 19.10.2022 ORDER PER SHAMIM YAHYA, ACCOUNTANT MEMBER : This appeal by the assessee is directed against the order of the ld. CIT (…

Bigfoot Retail Solution Pvt Ltd, New Delhi vs. ACIT Circle 5(1), New Delhi

In the result, the appeal of the assessee is allowed

Bench: Shri Anil Chaturvedi & Ms. Astha Chandraassessment Year: 2015-16

…d. CIT(A) confirmed the disallowance observing that since the software was an integral and essential part of computer, the expenditure on software services was rightly treated as capital expenditure. He mentioned the decision of Delhi Tribunal in Maruti Udyog 92 ITD 119 (Del). 6.3 Aggrieved, the assessee is before the Tribunal. 6.4 The Ld. AR reiterated the same arguments which were advanced before the Ld. AO/CIT(A). The Ld. DR supported the orders of the Revenue authorities. 6.5 We have given our careful thought to the rival submissions and perused the material on record. It is well settled that if the expend…