ACIT, CIRCLE- 3, NAINITAL vs. KUMAON MANDAL VIKAS NIGAM LTD., NAINITAL

In the result, both appeals of the Revenue are partly allowed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

Disallowance of interest under section 14A. (v) Taxability of contract receipt of Rs.8,19,265/- on accrual basis 4. The facts of the case giving rise to these appeals are that the assessee, a Government Corporation, filed its Income Tax Returns (hereinafter, the ‘ITR’) of AYs 2012-13 and 2013-14 declaring tentative losses of (-) Rs.76,05,926/- and (-) Rs.20

KARAM SAFETY PRIVATE LIMITED,UDHAM SINGH NAGAR vs. THE INCOME TAX OFFICER, WARD-2(3)(5), UDHAM SINGH NAGAR

In the result, both the appeals of the assessee are allowed and that of the Stay Applications are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

Section 80-IA(10) of the Act and still enhancing the business profit of the tax holiday entity (instead of reducing tax holiday deduction), leading to a dichotomy in its own approach. b. In doing so, AO also went against the order of the TPO which clearly stated that transfer pricing adjustment should be given effect by disallowing

KARAM SAFETY PRIVATE LIMITED,SITARGANJ vs. THE INCOME TAX OFFICER, WARD-2(3)(5), UDHAM SINGH NAGAR

In the result, both the appeals of the assessee are allowed and that of the Stay Applications are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

Section 80-IA(10) of the Act and still enhancing the business profit of the tax holiday entity (instead of reducing tax holiday deduction), leading to a dichotomy in its own approach. b. In doing so, AO also went against the order of the TPO which clearly stated that transfer pricing adjustment should be given effect by disallowing

LAKSAR CO OPERATIVE CANE DEV. UNION LTD.,LAKSAR vs. ITO, W- 1(3)(4), ROORKEE, ROORKEE

In the result, the assessee’s appeal is allowed for statistical purposes

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishra

80,010/- was paid by M/s R.B Narain Singh Sugar Mills Lhaksar in consonance with the State Govt. direction and such receipts had been claimed as deduction under section 80P(2) of the Act, which has been allowed since decades. The relevant finding of the Ld. CIT(A) is as under: “5.2 These grounds pertain to mainly to not allowing

M/S KUMAON MANDAL VIKASH NIGAM LIMIED.,NAINITAL vs. ACIT, CIRCLE-3, NAINITAL

In the result, both appeals of the assessee are allowed

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

section 143(3)of the Income Tax Act, 1961 (hereinafter, the ‘Act’), wherein various additions/disallowances were made. During the course of the assessment, the Assessing Officer (hereinafter, the ‘AO’) noted that the assessee had claimed interest expenditure on the said loan @ Rs.1,12,80,692/- every year. However, such interest was never paid in any year since such loan

M/S KUMAON MANDAL VIKASH NIGAM LIMITED,NAINITAL vs. ACIT, NAINITAL

In the result, both appeals of the assessee are allowed

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

section 143(3)of the Income Tax Act, 1961 (hereinafter, the ‘Act’), wherein various additions/disallowances were made. During the course of the assessment, the Assessing Officer (hereinafter, the ‘AO’) noted that the assessee had claimed interest expenditure on the said loan @ Rs.1,12,80,692/- every year. However, such interest was never paid in any year since such loan

M/S. SARASWATI DYNAMICS PVT. LTD.,ROORKEE vs. ACIT, HARIDWAR

In the result, the appeal filed by the assesee is partly allowed for statistical purpose

Bench: Sh. R. K Panda & Sh. Anubhav Sharmaassessment Year: 2009-10 M/S. Saraswati Dynamics Acit Circle Pvt. Ltd. Vs Haridwar C-7, Industrial Estate, Roorkee Pan No.Aaecs6262M (Appellant) (Respondent)

Section 80 IC of the Act on the AMC charges. The Id. Counsel for the assessee further submits that for the assessment year 2012-13 the assessee claimed deduction only at 30%, but the Id. Assessing Officer disallowed

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(1), DEHRADUN, DEHRADUN vs. THDC INDIA LIMITED, TEHRI

In the result, the appeal of the Revenue is dismissed as above

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishra

disallowance of claim of deduction of under section 80IA of the Act on the income derived from the excess provisions written back and the late payment surcharges on debtors was squarely covered by the decision of the Tribunal in the assessee’s own cases for AYs 2008-09 to 2015-16 as mentioned in grounds of appeal; hence, this appeal

SBL PVT. LTD.,UTTRAKHAND vs. DCIT, DEHRADUN

In the result, appeal of the assessee is dismissed

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A No.540/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Sbl Pvt. Ltd. Dcit Iie, Sidcul, Plot No.3, Vs. Office Of Commissioner Sector-12, Ranipur, Haridwar, Of Income Tax, Uttarakhand. Dehradun. Pan No Aaics9462M अपीलाथ" Appellant ""यथ"/Respondent

section 80 IC on the full amount of Rs.5,24,320/- is unjust, illegal, arbitrary, illusory and uncalled for.” 2. In spite of issue of several notices, none appeared on behalf of the assessee nor any adjournment was sought. The appeal is disposed off on hearing the Ld. DR. 3. Ground no.1 to 3 raised by the assessee are directed

DCIT, CIRCLE-2(2)(1), KASHIPUR vs. NAINI TISSUES LTD, U S NAGAR

In the result, appeal of the Revenue is 10

Bench: Shri Anil Chaturvedi & Shri Challa Nagendra Prasad

disallowed on similar grounds in the assessment framed under section 143(3) of the I.T. Act, 1961. The A.O, therefore, restricted the deduction under section 80IC at 30% of the profits i.e., at Rs.11,03,96,671/- and the excess claim of deduction amounting to Rs.25,75,92,232/- was added to the income of the assessee. 6.1. Aggrieved

BHUPENDRA BORA,GHAZIABAD vs. DCIT, DEHRADUN

In the result, the appeal is allowed

Bench: Shri M. Balaganesh & Shri Satbeer Singh Godara(Through Video Conferencing) Bhupendra Bora, Vs. Dcit, Flat No. S4, Plot No. 618A, Circle-1(1)(1), Sector-1, Vaishali, Dehradun Ghaziabad (Appellant) (Respondent) Pan: Ajkpb5486A Assessee By : None Revenue By: Shri A. S. Rana, Sr. Dr Date Of Hearing 17/03/2025 Date Of Pronouncement 02/04/2025

disallowed if the assessee does not file Form 67 within the due date prescribed under section 139(1) of the Act. It was submitted that that there are many sections in the Act which specifically deny deduction or exemption or relief in case the return is not filed within prescribed time. Reference was made to section 80AC, 80

GRAND LEGACY,DEHRADUN vs. DCIT CIRCLE 1, DEHRADUN

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singh & Shri Manish Agarwal[Assessment Year : 2018-19] Grand Legacy Vs Dcit Khasra No.384 Min/New Circle-1, No.642K, Dehra Khas Dehradun Adjoining Lal Pul Patel Uttarakhand Nagar, Dehradun Uttarakhand -248001 Pan-Aaifg4885D Appellant Respondent Appellant By Shri Rajan Malik & Shri A.K. Kashyap Respondent By Ms. Poonam Sharma, Cit Dr Date Of Hearing 10.03.2026 Date Of Pronouncement 12.03.2026 Order Per Manish Agarwal, Am : The Present Appeal Is Filed By Assessee Against The Order Dated 19.09.2025 By Ld. Commissioner Of Income Tax (A), Nfac, Delhi [“Ld. Cit(A)”] In Appeal No. Nfac/2017-18/10101141 Passed U/S 250 Of The Income Tax Act, 1961 [“The Act”] Arising Out Of Assessment Order Dated 26.03.2021 Passed U/S 143(3) R.W.S. 143(3A) & 143(3B) Of The Act Pertaining To Assessment Year 2018-19. 2. Brief Facts Of The Case Are That Assessee Had Claimed Deduction U/S 80-Ic Of The Act Which Was Disallowed By The Ao For The Reason That The Assessee Has Not Fulfilled The Conditions Prescribed For Claiming Said Deduction & Initiated The Penalty Proceedings U/S 271A For Under Reporting As A Consequence Of Mis-Reporting Of Income. Thereafter, Ao Levied Penalty U/S 271A Of The Act Of Inr 67,820/- For Under Reporting By Invoking Clause (E) Of Sub-Section (9) Of Section 270A Of The Act.

80-IC of the Act which was disallowed by the AO for the reason that the assessee has not fulfilled the conditions prescribed for claiming said deduction and initiated the penalty proceedings u/s 271A for under reporting as a consequence of mis-reporting of income. Thereafter, AO levied penalty u/s 271A of the Act of INR 67,820/- for under

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

section 42(1) of the Act. Accordingly, such expenses incurred by the appellant were held to be in the nature of head office expenditure allowable only to the extent of 5% of the adjusted total income of the appellant. The AO did not, however, make any addition since the said expenses had already been disallowed

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN, UTTARAKHAND

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

section 42(1) of the Act. Accordingly, such expenses incurred by the appellant were held to be in the nature of head office expenditure allowable only to the extent of 5% of the adjusted total income of the appellant. The AO did not, however, make any addition since the said expenses had already been disallowed

M/S. JAIPRAKASH POWER VENTURES LTD.,DEHRADUN vs. DCIT, DEHRADUN

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 57 of the IT Act. 5. Both the parties next invite our attention to the CIT(A)’s detailed discussion dismissing the assessee’s lower appeal thereby upholding the Assessing Officer’s action not only rejecting its claim of interest income sought to be treated under the head “business” but also further disallowing netting of the interest expenditure against

DCIT, DEHRADUN vs. M/S JAI PRAKASH POWER VENTURE LTD., H.P.

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 57 of the IT Act. 5. Both the parties next invite our attention to the CIT(A)’s detailed discussion dismissing the assessee’s lower appeal thereby upholding the Assessing Officer’s action not only rejecting its claim of interest income sought to be treated under the head “business” but also further disallowing netting of the interest expenditure against

M/S. JAIPRAKASH POWER VENTURES LTD.,,H.P. vs. DCIT, DEHRADUN

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 57 of the IT Act. 5. Both the parties next invite our attention to the CIT(A)’s detailed discussion dismissing the assessee’s lower appeal thereby upholding the Assessing Officer’s action not only rejecting its claim of interest income sought to be treated under the head “business” but also further disallowing netting of the interest expenditure against

M/S. JAIPRAKASH POWER VENTURES LTD.,DEHRADUN vs. DCIT, DEHRADUN

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 57 of the IT Act. 5. Both the parties next invite our attention to the CIT(A)’s detailed discussion dismissing the assessee’s lower appeal thereby upholding the Assessing Officer’s action not only rejecting its claim of interest income sought to be treated under the head “business” but also further disallowing netting of the interest expenditure against