PCIT v. Triumph Realty Pvt. Ltd.

450 ITR 271High Court2023#20901 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2023 to 2023.

Judgments citing PCIT v. Triumph Realty Pvt. Ltd.

The Pr. Commissioner of Income Tax -5 vs. Jaypee Powergrid Ltd

ITA-397/2019HC Delhi30 Nov 2023

Bench: The Tribunal Was Whether The Interest Earned By The Respondent/Assessee From The Investment Made In Fixed Deposits, Out Of The Funds Received For Setting Up A Power Transmission System In The State Of Himachal Pradesh, Would Be Amenable To Tax Under The Head “Income From Other Sources”? 4. The Assessing Officer (Ao), Via The Assessment Order Dated Digitally Signed By:Atul Jain Signing Date:14.12.2023 15:33:37 Signature Not Verified

…Page 11 of 13 Development Pvt. Ltd., [2021] 437 ITR 285; ITA No. 66/2015 titled Commissioner of Income Tax-6 vs NTPC Tamil Nadu ER Company Ltd.; Principal Commissioner of Income-Tax v. Triumph Realty (P) Ltd., [2023] 450 ITR 271 (Delhi); NTPC Sail Power Company Pvt. Ltd. vs Commissioner of Income Tax, 2012 (10) TMI 524; Principal Commissioner of Income Tax vs Facor Power Ltd., [2016] 380 ITR 474; Commissioner of Income Tax v/s Sasan Power Ltd., 2012 (1) TMI 25, and Principal Commissioner of Income Tax, Jaipur-II vs Road Infrastructure Development Corporation of Ind…

Pride Purple Builders Private Ltd., Pune vs. Deputy Commissioner of Income-Tax, Central Circle - 1 (1), Pune

In the result, the appeal of the Assessee is allowed

ITA 699/PUN/2022[2015-16]Status: DisposedITAT Pune04 Oct 2023AY 2015-16

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.699/Pun/2022 िनधा"रण वष" / Assessment Year : 2015-16 Pride Purple Builders Private The Deputy Limited, V Commissioner Income Pride House, 5Th Floor, S Tax, Circle-1(1), Pune. S.No.108/7, Shivajinagar, Near Pune University Circle, Pune – 411016. Pan: Aadcp 4286 H Appellant / Assessee Respondent / Revenue Assessee By Shri Suhas Bora – Ar Revenue By Shri M G Jasnani, Irs - Dr Date Of Hearing 03/10/2023 Date Of Pronouncement 04/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By Assessee Is Directed Against The Order Of Ld. Commissioner Of Income Tax(Appeal), Pune-11 Dated 18.08.2022For A.Y.2015-16 Emanating From The Assessment Order Under Section 143(3) Of The Income Tax Act, 1961 Dated 30.11.2017. The Assessee Has Raised The Following Grounds Of Appeal: Pride Purple Builders Private Limited [A]

Section 143(2)Section 143(3)

…Court held that when nexus is established between Interest paid and Interest earned then only Net Interest shall be taxed. 17 Pride Purple Builders Private Limited [A] 16. The Hon’ble Delhi High Court in the case of PCIT Vs Triumph Reality Pvt. Ltd., [2023] 450 ITR 271 (Delhi) has held as under : Quote, “3. The admitted facts of the present case are that the assessee had taken Foreign ECB loan of Rs. 82.37 crores for the purpose of acquisition of a capital asset i.e. renovation and refurbishment of hotel acquired by the assessee under SARFAESI Act. The entire ECB loan was disbursed in a single trench in the yea…

Addl.CIT, Special Range-4, New Delhi vs. Idemitsu Lube India P.Ltd, New Delhi

In the result, Cross objection of assessee is allowed for statistical purposes

ITA 7256/DEL/2018[2013-14]Status: DisposedITAT Delhi27 Apr 2023AY 2013-14

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaita Nos. 7255 & 7256/Del/2018 (Assessment Years : 2012-13 & 2013-14) Acit Vs. Idemitsu Lube India P. Ltd. Special Range -4, 603, 6Th Floor, Erose New Delhi Corporate Tower, Nehru Place, New Delhi-110 019 Pan No. Aabci 5684 A (Appellant) (Respondent) & Co Nos. 36 & 35/Del/2019 (Arising Out Of Ita Nos.7255 & 7256/Del/2018) (Assessment Years : 2012-13 & 2013-14) Idemitsu Lube India P. Ltd. Vs. Acit 603, 6Th Floor, Erose Special Range -4, Corporate Tower, Nehru New Delhi Place, New Delhi-110 019 Pan No. Aabci 5684 A (Appellant) (Respondent)

Section 115JSection 143(3)

…he order of AO. Learned AR on the other hand reiterated the submissions made before AO and CIT(A) and supported the order of CIT(A). Learned AR also relied on the decision of Delhi High Court in the case of PCIT vs. Triumph Realty Pvt. Ltd. reported in (2023) 450 ITR 271 (Delhi). He also placed on record copy of the decision. He, therefore, submitted in view of the settled law, no interference to the order of CIT(A) is called for. 16. We have heard the rival submissions and perused the material available on record. The issue in the present ground is with respect to the addition of Rs.6,31,06,600/- made on accoun…

Addl.CIT, Special Range-4, New Delhi vs. Idemitsu Lube India P.Ltd, New Delhi

In the result, Cross objection of assessee is allowed for statistical purposes

ITA 7255/DEL/2018[2012-13]Status: DisposedITAT Delhi27 Apr 2023AY 2012-13

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaita Nos. 7255 & 7256/Del/2018 (Assessment Years : 2012-13 & 2013-14) Acit Vs. Idemitsu Lube India P. Ltd. Special Range -4, 603, 6Th Floor, Erose New Delhi Corporate Tower, Nehru Place, New Delhi-110 019 Pan No. Aabci 5684 A (Appellant) (Respondent) & Co Nos. 36 & 35/Del/2019 (Arising Out Of Ita Nos.7255 & 7256/Del/2018) (Assessment Years : 2012-13 & 2013-14) Idemitsu Lube India P. Ltd. Vs. Acit 603, 6Th Floor, Erose Special Range -4, Corporate Tower, Nehru New Delhi Place, New Delhi-110 019 Pan No. Aabci 5684 A (Appellant) (Respondent)

Section 115JSection 143(3)

…he order of AO. Learned AR on the other hand reiterated the submissions made before AO and CIT(A) and supported the order of CIT(A). Learned AR also relied on the decision of Delhi High Court in the case of PCIT vs. Triumph Realty Pvt. Ltd. reported in (2023) 450 ITR 271 (Delhi). He also placed on record copy of the decision. He, therefore, submitted in view of the settled law, no interference to the order of CIT(A) is called for. 16. We have heard the rival submissions and perused the material available on record. The issue in the present ground is with respect to the addition of Rs.6,31,06,600/- made on accoun…

PCIT v. Triumph Realty Pvt. Ltd. (450 ITR 271) — Cited in 4 Judgments | BharatTax