PCIT v. E-City Investment (117 Taxmann.com 123)

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

ITA 588/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh08 Sept 2025AY 2012-13

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

For Appellant: Shri Ashwani Kumar, Shri Ashish Aggarwal &For Respondent: Shri Manav Bansal, CIT, DR

Section 10(38)Section 143(1)Section 14ASection 36(1)(iii)

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP & SHRI. KRINWANT SAHAY, AM आयकर अपील सं./ ITA No. 588/Chd/ 2018 िनधा"रण वष" / Assessment Years : 2012-13 The DCIT बनाम M/s Hero Cycles Ltd. C-V, Ludhiana Hero Nagar, G.T. Road Ludhiana "ायी लेखा सं./PAN NO: AAACH4073P अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 473/Chd/ 2018 िनधा"रण वष" / Assessment Years : 2012-13 M/s Hero Cycles Ltd. बनाम The ACIT Hero Nagar, G.T. Road Ludhia…

IHHR HOSPITALITY PRIVATE LIMITED,NEW DELHI vs. THE ACIT, CIRCLE 12(1), DELHI, NEW DELHI

In the result, Appeal of the Assessee is partly allowed

ITA 443/DEL/2025[2017-2018]Status: DisposedITAT Delhi13 Aug 2025AY 2017-2018

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwal

Section 14ASection 36(1)(iii)Section 36(1)(va)

…spitality business. Thus the advances are also driven by business exigency. 10. The assessee submitted that the issue is squarely covers in favour of the assessee by the decision of the Hon'ble Bombay High Court in Pr CIT Vs. ECT Investment Holdings Pvt. Ltd 117 Taxmann.com 123 wherein, the claim of the assessee was allowed. 11. Hon Delhi High court in Principal Commissioner of Income Tax v. Gaursons Realty (P.) Ltd.* [2020] 120 taxmann.com 259 (Delhi) has held that Where assessee, real estate company, had advanced loan to sister company for purpose of acquisition of land and to acquire a controlling stake in s…

PARAKKOTT INVESTMENT INDIA PVT LTD ,MUMBAI vs. INCOME TAX OFFICER WARD 14(2)(4), MUMBAI

In the result, no question of law arises

ITA 2137/MUM/2024[2017-18]Status: DisposedITAT Mumbai19 Feb 2025AY 2017-18

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2017-18

For Appellant: Shri M. Subramaniam, AdvocateFor Respondent: Shri Krishna Kumar, Sr. DR

Section 143(3)Section 14ASection 36

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2017-18 Parakkott Investments India Income-tax Officer – 14(2)(4), Pvt. Ltd., Mumbai C-206, Ghatkopar Industrial Estate, Off LBS Marg, Vs. Ghatkopar (West), Mumbai – 400 086 (PAN : AAECP5669F) (Appellant) (Respondent) Present for: Assessee : Shri M. Subramaniam, Advocate Revenue : Shri Krishna Kumar, Sr. DR Date of Hearing : 25.11.2024 Date of Pronouncement : 19.02.2025 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the assessee…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI vs. SHRI. MOOLCHAND KIRAN KUMAR JAIN, CHENNAI

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

ITA 6/CHNY/2024[2021-22]Status: DisposedITAT Chennai12 Jul 2024AY 2021-22

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner Of Shri. Moolchandkiran Kumar Income Tax, V. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [Pan:Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ"क"ओरसे/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तारीख/Date Of Hearing : 13.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.07.2024 आदेश /O R D E R Per S. R. Raghunatha, Am: These Appeals Are Preferred By The Revenue Against The Common Order Of The Learned Commissioner Of Income Tax (Appeals)-18, (Hereinafter In Short "The Ld.Cit(A)”), Chennai, Dated 15.11.2022 Against The Assessment Order U/S.153A/143(3) Of The Income Tax Act, 1961 (Hereinafter In Short "The Act”) For :-2-: Ita. Nos: 5 & 6/Chny/2024

For Appellant: Shri. R. Clement Ramesh Kumar, CITFor Respondent: Shri. D. Anand, Advocate

Section 132Section 143(3)Section 153ASection 36(1)Section 36(1)(iii)

…आयकर अपीलीय अिधकरण,‘सी’"यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी एबी टी वक", "याियक सद"य एवं "ी एस. आर.रघुनाथा, लेखा सद"य के सम" BEFORE SHRI ABY T VARKEY, HON’BLE JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, HON’BLE ACCOUNTANT MEMBER आयकरअपीलसं./ITA Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner of Shri. MoolchandKiran Kumar Income Tax, v. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [PAN:ACHPM-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant by : Shri. R. Clement Ramesh Kum…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(4), CHENNAI vs. SHRI. MOOLCHAND KIRAN KUMAR JAIN, CHENNAI

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

ITA 5/CHNY/2024[2020-21]Status: DisposedITAT Chennai12 Jul 2024AY 2020-21

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner Of Shri. Moolchandkiran Kumar Income Tax, V. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [Pan:Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ"क"ओरसे/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तारीख/Date Of Hearing : 13.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.07.2024 आदेश /O R D E R Per S. R. Raghunatha, Am: These Appeals Are Preferred By The Revenue Against The Common Order Of The Learned Commissioner Of Income Tax (Appeals)-18, (Hereinafter In Short "The Ld.Cit(A)”), Chennai, Dated 15.11.2022 Against The Assessment Order U/S.153A/143(3) Of The Income Tax Act, 1961 (Hereinafter In Short "The Act”) For :-2-: Ita. Nos: 5 & 6/Chny/2024

For Appellant: Shri. R. Clement Ramesh Kumar, CITFor Respondent: Shri. D. Anand, Advocate

Section 132Section 143(3)Section 153ASection 36(1)Section 36(1)(iii)

…आयकर अपीलीय अिधकरण,‘सी’"यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी एबी टी वक", "याियक सद"य एवं "ी एस. आर.रघुनाथा, लेखा सद"य के सम" BEFORE SHRI ABY T VARKEY, HON’BLE JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, HON’BLE ACCOUNTANT MEMBER आयकरअपीलसं./ITA Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner of Shri. MoolchandKiran Kumar Income Tax, v. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [PAN:ACHPM-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant by : Shri. R. Clement Ramesh Kum…

IND SWIFT LABORATORIES LTD.,CHANDIGARH vs. DCIT, CIRCLE 1(1), CHANDIGARH

In the result, the appeal is allowed, as indicated

ITA 350/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh04 Jun 2024AY 2017-18

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri T.N.Singla, C.AFor Respondent: Shri Rohit Sharma, CIT-DR

Section 250Section 35Section 35(1)Section 35(1)(i)Section 35(2)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘A’ CHANDIGARH BEFORE: SHRI A.D.JAIN, VICE PRESIDENT AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 350/CHD/2023 "नधा"रण वष" / Assessment Year : 2017-18 Ind Swift Laboratories Ltd., The DCIT, बनाम 850, NAC, Mani Majra, Circle 1(1), VS Chandigarh. Chandigarh. "थायी लेखा सं./PAN /TAN No: AAACI6306G अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri T.N.Singla, C.A. राज"व क" ओर से/ Revenue by : Shri Rohit Sharma, CIT-DR तार"ख/Date of Hearing : 08.05.2024 उदघोषणा क" तार"…

IHHR HOSPITALITY PVT. LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE- 04, NEW DELHI

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

ITA 3109/DEL/2018[2014-15]Status: DisposedITAT Delhi04 Jun 2024AY 2014-15

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Usm/S. Ihhr Hospitality Pvt. Ltd., Vs. Addl. Cit, 32/7, Samalka, Nh 8, Range – 04, New Delhi – 110 037. New Delhi. (Pan : Aaaci9385B) (Appellant) (Respondent) Assessee By : Shri Ranjan Chopra, Ca Revenue By : Shri Javed Akhtar, Cit Dr Date Of Hearing : 30.05.2024 Date Of Order : 04.06.2024 Order Per Shamim Yahya: This Appeal By The Assessee Is Directed Against The Order Of The Ld. Cit (Appeals)-35, New Delhi Dated 13.02.2018 For The Assessment Year 2014-15. 2. Grounds Of Appeal Taken By The Assessee Read As Under :- “1. That The Revenue Has Erred In Law & On Facts In Making Disallowance Of ‘Project Pending Capitalization Written Off’ Expenses, Amounting To Rs.7,71,40,000/- & Treating These Expenses To Be Of Capital Nature. 2. That The Revenue Has Erred In Law & On Facts In Disallowing Interest Of Rs.5,40,62,940/- U/S 36(1)(Iii) Of The Income Tax Act, 1961. (Revised Ground). 3. That The Revenue Has Erred In Law & On Facts In Disallowing A Sum Of Rs.9,61,305/- On Account Of Claim Of Roc Fee Under Section 35D Of The Income Tax Act, 1961. 2 .”

For Appellant: Shri Ranjan Chopra, CAFor Respondent: Shri Javed Akhtar, CIT DR

Section 35DSection 36(1)(iii)

…ospitality business. Thus the advances are also driven by business exigency. 10. The assessee submitted that the issue is squarely covers in favour of the assessee by the decision of the Hon’ble Bombay High Court in Pr CIT Vs. ECT Investment Holdings Pvt. Ltd 117 Taxmann.com 123 wherein, the claim of the assessee was allowed. 11. Hon Delhi High court in Principal Commissioner of Income Tax v. Gaursons Realty (P.) Ltd.* [2020] 120 taxmann.com 259 (Delhi) has held that Where assessee, real estate company, had advanced loan to sister company for purpose of acquisition of land and to acquire a controlling 8 stake in…

GUJARAT NIPPON ENTERPRISES PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-2(1)(1),, AHMEDABAD

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

ITA 410/AHD/2017[2005-06]Status: DisposedITAT Ahmedabad01 Feb 2022AY 2005-06

Bench: Shri Waseem Ahmed & Ms Suchitra Kambleआयकर अपील सं./Ita No. 410/Ahd/2017 िनधा"रण वष"/Asstt. Year:2005-2006 Gujarat Nippon Enterprises Pvt. Ltd., I.T.O., (Formerly Known As Gujarat Nippon Vs. Ward-2(1)(1), Bimetals Pvt. Ltd.) Ahmedabad. 404, Soham-2, Near Navrang School Six Roads, Navrangpura, Ahmedabad.

For Appellant: Shri Manish Shah, A.RFor Respondent: Shri R.R. Makwana, Sr.D.R

Section 14ASection 36Section 36(1)(ii)Section 36(1)(iii)

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ SMC’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And MS SUCHITRA KAMBLE, JUDICIAL MEMBER आयकर अपील सं./ITA No. 410/AHD/2017 िनधा"रण वष"/Asstt. Year:2005-2006 Gujarat Nippon Enterprises Pvt. Ltd., I.T.O., (Formerly known as Gujarat Nippon Vs. Ward-2(1)(1), Bimetals Pvt. Ltd.) Ahmedabad. 404, Soham-2, Near Navrang School Six Roads, Navrangpura, Ahmedabad. PAN: AABCG3516H (Applicant) (Respondent) Assessee by : Shri Manish Shah, A.R Revenue by : Shri R.R. Makwana, Sr.D.R सु…

M/S. LUCINA LAND DEVELOPMENT LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, grounds no

ITA 962/DEL/2017[2012-13]Status: DisposedITAT Delhi26 Nov 2021AY 2012-13

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2012-13 M/S. Lucina Land Vs. Acit, Development Ltd., Circle-15(2), M-62 & 63, 1St Floor, New Delhi Connaught Place, New Delhi Pan :Aabcl2130N (Appellant) (Respondent)

Section 143(3)Section 234BSection 36Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘E’ NEW DELHI BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2012-13 M/s. Lucina Land Vs. ACIT, Development Ltd., Circle-15(2), M-62 & 63, 1st Floor, New Delhi Connaught Place, New Delhi PAN :AABCL2130N (Appellant) (Respondent) Appellant by Sh. Gautam Jain, Adv. Sh. Lalit Mohan, CA Respondent by Ms. Sarita Kumari, CIT(DR) Date of hearing 18.11.2021 Date of pronouncement 26.11.2021 ORDER PER O.P. KANT, AM: This appeal by the assessee is directed against order dated 23/12/2016 passed by the learned Commis…

PCIT v. E-City Investment

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