Pr. CIT v. Novell Software Development India (P.) Ltd.

434 ITR 154High Court2021#6596 most cited
18

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 to 2025.

Also reported as

126 Taxmann.com 29

Sections most often in play

Section 143(3)Section 14ASection 32(1)(ii)Section 36(1)(va)Section 37(1)Section 144BSection 144C(13)Section 40(a)(ia)

Issues it is cited on

depreciation on non-compete feenon-compete feemat creditsection 32(1)(ii)section 32(1)enduring benefitsection 36(1)(iii)section 32section 36(1)(va)section 14arevenue expenditurecapital expenditure

Judgments citing Pr. CIT v. Novell Software Development India (P.) Ltd.

TABLEZ FOOD COMPANY PRIVATE LIMITED,KOCHI vs. CORPORATE CIR 2(1), KOCHI

In the result, appeal filed by the assessee is allowed

ITA 831/COCH/2025[2016-17]Status: DisposedITAT Cochin28 Nov 2025AY 2016-17

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2016-17 Tablez Food Company Pvt. Ltd. .......... Appellant 971/B Y Tower, Mkk Nair Road Vazhakkala, Kochi 682030 [Pan: Aadct6643G] Vs. Ito, Corporate Ward -2(4), Kochi .......... Respondent Assessee By: ------- None ------- Revenue By: Ms. Neethu S. Sr. Dr Date Of Hearing: 27.11.2025 Date Of Pronouncement: 28.11.2025 O R D E R This Appeal Filed By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals), Panaji [Cit(A)] Dated 29.08.2025 For Assessment Year (Ay) 2016-17. 2. Brief Facts Of The Case Are That The Appellant Is A Private Limited Company Engaged In The Business Of Running Of Restaurants. The Appellant Filed The Return Of Income For Ay 2016-17 On 15.10.2016 Declaring Loss Of Rs. 3,30,247/-. Against The Said Return Of Income, The Assessment Was Completed By The Income Tax Officer, Corporate Ward – 2(4), Kochi (Hereinafter Called "The Ao") Vide Order Dated

For Appellant: ------- None -------For Respondent: Ms. Neethu S. Sr. DR
Section 143(3)Section 14A

…/s. 14A of the Act can be made. Reliance in this regard is placed on the following judgments: (1) CIT vs. Tamilnadu Road Development Company Ltd (2021) 435 ITR 323 (Mad.) (2) Tamil Nadu Development Co Ltd vs. DCIT, 436 ITR 298 (3) PCIT vs. Nam Estates P Ltd, 434 ITR 154 7. Respectfully following the ratio of the above decisions, we hold that the AO was not justified in making the disallowance u/s. 14A in the absence of exempt income. 3 Tablez Food Company Pvt. Ltd. 8. In the result, appeal filed by the assessee is allowed. Order pronounced in the open court on 28th November, 2025. 6. (INTURI RAMA RAO) ACCOUNT…

DREAM FLOWER HOUSING PROJECTS PRIVATE LIMITED,ERNAKULAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), KOCHI

In the result, appeal filed by the assessee is allowed

ITA 122/COCH/2025[2015-16]Status: DisposedITAT Cochin30 Jun 2025AY 2015-16

Bench: Shri Inturi Rama Rao, Am & Sonjoy Sarma, Jm Assessment Year:2015-16 Dream Flower Housing Projects Private Limited .......... Appellant 49/1295E, Ponckkara Road, Edapally Po Kochi-682024. Pan: Aaccd4362K Vs. Dcit .......... Respondent Corporate Circle-1(1), Kochi, Kerala.

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 14ASection 40

…/s. 14A of the Act can be made. Reliance in this regard is placed on the following judgments: (1) CIT vs. Tamilnadu Road Development Company Ltd (2021) 435 ITR 323 (Mad.) (2) Tamil Nadu Development Co Ltd vs. DCIT, 436 ITR 298 (3) PCIT vs. Nam Estates P Ltd, 434 ITR 154 7. Respectfully following the ratio of the above decisions, we hold that the AO was not justified in making the disallowance U/s. 14A in the absence of exempt income. 8. In the result, appeal filed by the assessee is allowed. Order pronounced in the open court on 30th June, 2025. (SONJOY SARMA) ACCOUNTANT MEMBER Cochin, Dated: 30th June, 2025 o…

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS "JRG SECURITIES LTD"),KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 243/COCH/2023[2017-18]Status: DisposedITAT Cochin14 May 2025AY 2017-18

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

…i) CIT v. Chettinad Logistics Pvt. Ltd. (2018) 95 taxmann.com 250 (SC) (iii) Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Delhi) (iv) Pr.CIT v. Amadeus India Pvt. Ltd. (2023) 452 ITR 206) (Delhi) (v) Pr.CIT v. Novell Software Development (India) Pvt. Ltd. (2021) 434 ITR 154 (Karn.) [The Hon’ble Supreme Court also dismissed the SLP filed by the department in the case of Pr.CIT v. GVK Project and Technical Services Ltd. (2019) 106 taxmann.com 180 (Delhi) both on delay and on merits] 19. The statute is amended by insertion of explanation to sec.14A of the Act, by Finance Act, 2022 proposing to make disallowance of expe…

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 242/COCH/2023[2014-15]Status: DisposedITAT Cochin14 May 2025AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

…i) CIT v. Chettinad Logistics Pvt. Ltd. (2018) 95 taxmann.com 250 (SC) (iii) Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Delhi) (iv) Pr.CIT v. Amadeus India Pvt. Ltd. (2023) 452 ITR 206) (Delhi) (v) Pr.CIT v. Novell Software Development (India) Pvt. Ltd. (2021) 434 ITR 154 (Karn.) [The Hon’ble Supreme Court also dismissed the SLP filed by the department in the case of Pr.CIT v. GVK Project and Technical Services Ltd. (2019) 106 taxmann.com 180 (Delhi) both on delay and on merits] 19. The statute is amended by insertion of explanation to sec.14A of the Act, by Finance Act, 2022 proposing to make disallowance of expe…

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 241/COCH/2023[2013-14]Status: DisposedITAT Cochin14 May 2025AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

…i) CIT v. Chettinad Logistics Pvt. Ltd. (2018) 95 taxmann.com 250 (SC) (iii) Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Delhi) (iv) Pr.CIT v. Amadeus India Pvt. Ltd. (2023) 452 ITR 206) (Delhi) (v) Pr.CIT v. Novell Software Development (India) Pvt. Ltd. (2021) 434 ITR 154 (Karn.) [The Hon’ble Supreme Court also dismissed the SLP filed by the department in the case of Pr.CIT v. GVK Project and Technical Services Ltd. (2019) 106 taxmann.com 180 (Delhi) both on delay and on merits] 19. The statute is amended by insertion of explanation to sec.14A of the Act, by Finance Act, 2022 proposing to make disallowance of expe…

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 240/COCH/2023[2012-13]Status: DisposedITAT Cochin14 May 2025AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

…i) CIT v. Chettinad Logistics Pvt. Ltd. (2018) 95 taxmann.com 250 (SC) (iii) Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Delhi) (iv) Pr.CIT v. Amadeus India Pvt. Ltd. (2023) 452 ITR 206) (Delhi) (v) Pr.CIT v. Novell Software Development (India) Pvt. Ltd. (2021) 434 ITR 154 (Karn.) [The Hon’ble Supreme Court also dismissed the SLP filed by the department in the case of Pr.CIT v. GVK Project and Technical Services Ltd. (2019) 106 taxmann.com 180 (Delhi) both on delay and on merits] 19. The statute is amended by insertion of explanation to sec.14A of the Act, by Finance Act, 2022 proposing to make disallowance of expe…

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 239/COCH/2023[2011-12]Status: DisposedITAT Cochin14 May 2025AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

…i) CIT v. Chettinad Logistics Pvt. Ltd. (2018) 95 taxmann.com 250 (SC) (iii) Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Delhi) (iv) Pr.CIT v. Amadeus India Pvt. Ltd. (2023) 452 ITR 206) (Delhi) (v) Pr.CIT v. Novell Software Development (India) Pvt. Ltd. (2021) 434 ITR 154 (Karn.) [The Hon’ble Supreme Court also dismissed the SLP filed by the department in the case of Pr.CIT v. GVK Project and Technical Services Ltd. (2019) 106 taxmann.com 180 (Delhi) both on delay and on merits] 19. The statute is amended by insertion of explanation to sec.14A of the Act, by Finance Act, 2022 proposing to make disallowance of expe…

ASSTT. COMMISSINER OF INCOME TAX-6(1)(1), MUMBAI, MUMBAI vs. ALOK INFRASTRUCTURE P. LTD, MUMBAI

In the result, the appeal filed by the Revenue is partly allowed

ITA 5254/MUM/2024[2018-19]Status: DisposedITAT Mumbai04 Dec 2024AY 2018-19

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri B.R. Baskaranassessment Year : 2018-19 Asst. Commissioner Of M/S. Alok Infrastructure Income Tax-6(1)(1), Private Limited, 5Th Floor, Vs. 2Nd & 3Rd Floor, Aayakar Bhavan, Tower-B, M.K. Road, Peninsula Business Park, Mumbai. G.K. Marg, Lower Parel, Mumbai. Pan : Aagca1949P (Appellant) (Respondent) For Assessee : Shri Nimesh Vora & Ms. Moksha Mehta For Revenue : Shri Akshay Tapdiya, Sr.Dr Date Of Hearing : 21-11-2024 Date Of Pronouncement : 04-12-2024 O R D E R Per B.R. Baskaran, A.M : The Revenue Has Filed This Appeal Challenging The Order Dated 09-08-2024 Passed By Ld.Cit(A)-Nfac, Delhi & It Relates To The Assessment Year (Ay) 2018-19. The Revenue Is Challenging The Relief Granted By The Ld.Cit(A) In Respect Of Following Additions Made By The Assessing Officer (Ao):- (A) Addition Made U/S 14A Of The Income Tax Act, 1961 („The Act‟); (B) Disallowance Of Expenses Related To The Assets Sold; (C) Disallowance Of Claim Of Write Off Of Cement Bags.

For Appellant: Shri Nimesh Vora &For Respondent: Shri Akshay Tapdiya, Sr.DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE JUSTICE (RETD.) SHRI C.V. BHADANG, PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2018-19 Asst. Commissioner of M/s. Alok Infrastructure Income Tax-6(1)(1), Private Limited, 5th Floor, vs. 2nd and 3rd Floor, Aayakar Bhavan, Tower-B, M.K. Road, Peninsula Business Park, Mumbai. G.K. Marg, Lower Parel, Mumbai. PAN : AAGCA1949P (Appellant) (Respondent) For Assessee : Shri Nimesh Vora & Ms. Moksha Mehta For Revenue : Shri Akshay Tapdiya, Sr.DR Date of Hearing : 21-11-2024 Date of Pronouncement : 04-12-2024 O R D E R PER B.R. BA…

MULTIPLE CONCRETE PVT. LTD.,KOLKATA vs. ITO, WARD-10(3), KOLKATA

The appeal of the assessee is allowed

ITA 341/KOL/2024[2012-13]Status: DisposedITAT Kolkata30 Aug 2024AY 2012-13

Bench: Shri Sonjoy Sarma, Jm & Shri Rakesh Mishra, Am Income Tax Officer, Ward 10(3), Multiple Concrete Pvt. Ltd. 13, Dum Dum Road, Aaykar Bhavan, Vs. Kolkata-700 074 P-7, Chowringhee Square, Kolkata (Appellant) (Respondent) Pan No. Aabcm7885R Assessee By : Shri S.K. Tulsiyan & Ms. Puja Somani, Ars Revenue By : Shri Rakesh Kumar Das, Dr Date Of Hearing: 06.08.2024 Date Of Pronouncement : 30.08.2024

For Appellant: Shri S.K. Tulsiyan &For Respondent: Shri Rakesh Kumar Das, DR
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE SHRI SONJOY SARMA, JM AND SHRI RAKESH MISHRA, AM Income Tax Officer, Ward 10(3), Multiple Concrete Pvt. Ltd. 13, Dum Dum Road, Aaykar Bhavan, Vs. Kolkata-700 074 P-7, Chowringhee Square, Kolkata (Appellant) (Respondent) PAN No. AABCM7885R Assessee by : Shri S.K. Tulsiyan & Ms. Puja Somani, ARs Revenue by : Shri Rakesh Kumar Das, DR Date of hearing: 06.08.2024 Date of pronouncement : 30.08.2024 O R D E R PER SONJOY SARMA, JM: 01. The caption appeal filed by the assessee is directed against the order passed by the National Faceless Appeal Centre, De…

TRUWORTH INFOTECH PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER, WARD-2(2), JAIPUR

In the result, the appeal of the assessee is allowed

ITA 79/JPR/2023[2014-15]Status: DisposedITAT Jaipur04 Jul 2023AY 2014-15

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.R. Sharma, CA &For Respondent: Mrs. Monisha Choudhary, Addl. CIT-DR
Section 115JSection 143(2)Section 143(3)Section 14A

…the assessee earned no exempt income during the year and therefore no disallowance can be made u/s 6 TRUWORTH INFOTECH PVT LTD. VS ITO , WARD 2(2), JAIPUR 14A of the I.T. Act, 1961. In case of Principal CIT Vs. Novell Software Development India P. Ltd. (2021) 434 ITR 154/278 Taxmann 390 The Hon'ble Karnataka High Court held that where there is no exempt income earned by the assessee during the year no disallowance u/s 14A was to be made similar legal view was upheld in Bicom Ltd. Vs. Dy. CIT (2021) 431 ITR 326(Kar) and in case of Pr. CIT Vs. Sterling Developers P. Ltd. (2021) 129 taxmann.com 116 (Kar). The Madras…

AMD INDIA PRIVATE LIMITED,BENGALURU vs. ACIT, CIRCLE-1(1)(1), BANGALORE

ITA 262/BANG/2022[2017-18]Status: DisposedITAT Bangalore26 Jun 2023AY 2017-18

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Sunil Kumar Singh, CIT(DR)(ITAT), Bengaluru
Section 133(6)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER SP Nos.4 & 5/Bang/2023 & IT(TP)A Nos. 238/Bang/2021 & 262/Bang/2022 Assessment years : 2016-17 & 2017-18 AMD India Private Limited, Vs. The Assistant Commissioner BMTC Building, 80 Feet Road, of Income Tax, 6th Block, Near KHB Games Village, Circle 1(1)(1), Koramangala, Bangalore. Bangalore – 560 095. PAN: AABCC 3447R APPELLANT RESPONDENT Appellant by : Shri Padamchand Khincha, CA Respondent by : Shri Sunil Kumar Singh, CIT(DR)(ITAT), Bengaluru. Date of hearing :…

AMD INDIA PRIVATE LIMITED,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BANGALORE

ITA 238/BANG/2021[2016-17]Status: DisposedITAT Bangalore26 Jun 2023AY 2016-17

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Sunil Kumar Singh, CIT(DR)(ITAT), Bengaluru
Section 133(6)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER SP Nos.4 & 5/Bang/2023 & IT(TP)A Nos. 238/Bang/2021 & 262/Bang/2022 Assessment years : 2016-17 & 2017-18 AMD India Private Limited, Vs. The Assistant Commissioner BMTC Building, 80 Feet Road, of Income Tax, 6th Block, Near KHB Games Village, Circle 1(1)(1), Koramangala, Bangalore. Bangalore – 560 095. PAN: AABCC 3447R APPELLANT RESPONDENT Appellant by : Shri Padamchand Khincha, CA Respondent by : Shri Sunil Kumar Singh, CIT(DR)(ITAT), Bengaluru. Date of hearing :…

M/S. NSL SUGARS LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-5(1)(1), BANGALORE

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 120/BANG/2023[2012-13]Status: DisposedITAT Bangalore19 Apr 2023AY 2012-13

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.T.Gandhi, CAFor Respondent: Ms.Neera Malhotra, CIT-DR
Section 143(3)Section 14ASection 154Section 250

…IT v. IL and FS Energy Development Co. Ltd. (2017) 399 ITR 483 (Delhi) (ii) Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Delhi) (iii) Redington (India) Ltd. v. Addl.CIT (2017) 392 ITR 633 (Mad.) (iv) Pr.CIT v. Novell Software Development (India) Pvt. Ltd. (2021) 434 ITR 154 (Karn.) 8. It is to be mentioned that Finance Act, 2022 had amended section 14A of the I.T.Act, whereby it is stated that irrespective whether the assessee is not in receipt of exempt income, disallowance u/s 14A of the I.T.Act can be made. However, the Hon’ble Delhi High Court in the case of Pr.CIT v. Era Infrastructure (India) Ltd reported in…

M/S TOYOTA KIRLOSKAR MOTORS (P) LTD ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE-1 , BANGALORE

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

ITA 150/BANG/2017[2012-13]Status: DisposedITAT Bangalore02 Dec 2022AY 2012-13

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Sri Padam Chand Khincha, A.RFor Respondent: Sri Sunil Kumar Singh, D.R
Section 40A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER IT(TP)A No.150/Bang/2017 & 320/Bang/2019 Assessment Year : 2012-2013 & 2014-2015 M/s. Toyota Kirloskar Motor (P) Ltd. Plot No.21, Bidadi Industrial Area Ramanagar District ACIT LTU Circle-1 Vs. Bngalore 562 109 Bangalore PAN NO : AAACT5415B APPELLANT RESPONDENT Appellant by : Sri Padam Chand Khincha, A.R. Respondent by : Sri Sunil Kumar Singh, D.R. Date of Hearing : 27.09.2022 Date of Pronouncement : 02.12.2022 O R D E R PER LAXMI PRASAD SAHU, ACCOUNTANT MEM…

M/S. TE CONNECTIVITY SERVICES INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

ITA 300/BANG/2021[2016-17]Status: DisposedITAT Bangalore26 May 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.300/Bang/2021 Assessment Year : 2016-17

For Appellant: Shri Sriram Sheshadri & Ms. Amulya K., CAsFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(TP)A No.300/Bang/2021 Assessment year : 2016-17 TE Connectivity Services Vs. The Assessing Officer, India Private Ltd., National Faceless 59/2, 1st Floor, Gurudas Heritage, Assessment Centre, Block-b, 100 Feet Ring Road, Delhi. Banashankari 2nd Stage, Bangalore – 560 070. PAN: AAFCT 3474R APPELLANT RESPONDENT Appellant by : Shri Sriram Sheshadri & Ms. Amulya K., CAs Respondent by : Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru. Date of hearing : 15.03.2022 Dat…

SHREE BALAJI ENGICONS PVT. LTD,JHARSUGUDA vs. PRINCIPAL CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

ITA 195/CTK/2019[204-15]Status: DisposedITAT Cuttack15 Dec 2021

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…~ Pr. CIT-04 v. IL & FS Energy Development Company Ltd. reportedin /2017/ 399 ITR 483 (Delhl) ~ Biocon Ltd. v. DCI~ Circie-ll(2), Bangalore reported in /2021/ 431 ITR 326 (Karnataka) ~ Pr. CIT v. Novell Software Development India (P.) Ltd. reported in /2021/ 434 ITR 154 (Karnataka) ~ Pr. CIT-I, Chandigarh v. Vardhman Chemtech (P) Ltd. reported in /2020/ 423 ITR 241 (Punjab & Haryana) • It is further well settled that only those investments are to be considered for computing average value of investment which yielded exempt income during the year. The Hon'ble ITAT Delhi Bench cH' (Special Bench) in the case of ACI…

M/S- SBEP-GRIL(JOINT VENTURE),JHARSUGUDA vs. PRINCIPAL CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

ITA 194/CTK/2019[2014-15]Status: DisposedITAT Cuttack15 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…~ Pr. CIT-04 v. IL & FS Energy Development Company Ltd. reportedin /2017/ 399 ITR 483 (Delhl) ~ Biocon Ltd. v. DCI~ Circie-ll(2), Bangalore reported in /2021/ 431 ITR 326 (Karnataka) ~ Pr. CIT v. Novell Software Development India (P.) Ltd. reported in /2021/ 434 ITR 154 (Karnataka) ~ Pr. CIT-I, Chandigarh v. Vardhman Chemtech (P) Ltd. reported in /2020/ 423 ITR 241 (Punjab & Haryana) • It is further well settled that only those investments are to be considered for computing average value of investment which yielded exempt income during the year. The Hon'ble ITAT Delhi Bench cH' (Special Bench) in the case of ACI…

M/S- RAWAT BALAJI (JOINT VENTURE),JHARSUGUDA vs. PRILNCIPAL, CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

ITA 193/CTK/2019[204-15]Status: DisposedITAT Cuttack15 Dec 2021

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…~ Pr. CIT-04 v. IL & FS Energy Development Company Ltd. reportedin /2017/ 399 ITR 483 (Delhl) ~ Biocon Ltd. v. DCI~ Circie-ll(2), Bangalore reported in /2021/ 431 ITR 326 (Karnataka) ~ Pr. CIT v. Novell Software Development India (P.) Ltd. reported in /2021/ 434 ITR 154 (Karnataka) ~ Pr. CIT-I, Chandigarh v. Vardhman Chemtech (P) Ltd. reported in /2020/ 423 ITR 241 (Punjab & Haryana) • It is further well settled that only those investments are to be considered for computing average value of investment which yielded exempt income during the year. The Hon'ble ITAT Delhi Bench cH' (Special Bench) in the case of ACI…