REENA VERMA,HARIDWAR vs. ITO, WARD-1(3)(5), ROORKEE

In the result, the appeal of the assessee stands partly allowed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

section 145(3) of the Act and applied net profit @ 8% of the annual sale of Rs.1,44,77,740/- as under: “4.12 As per return of income filed by the assessee, a turnover of Rs.1,44,77,740/- has been shown. After claiming various expenses, a net profit of Rs.2,86,150/- has been shown against the turnover

DCIT, CIRCLE- I, INTERNATIONAL TAXATION, DEHRADUN vs. EXPRESS DRILLING SYSTEMS LLC, DEHRADUN

In the result, cross objection filed by the assessee is partly

Bench: Shri Challa Nagendra Prasad & Shri M. Balaganeshआ.अ.सं/.I.T.A No.6114/Del/2017 िनधा"रणवष"/Assessment Year: 2009-10 बनाम Dcit, Express Drilling Circle-1, Vs. Systems Llc, International Taxation, C/O Nangia & Co., 1St Floor, Ida, 46, Dehradun, Uttarakhand. E.C. Road, Dehradun, Uttarakhand. Pan No.Aabce6891R अपीलाथ" Appellant ""यथ"/Respondent & Cross Objection No. 13/Del/2018 (In I.T.A No.6114/Del/2017) िनधा"रणवष"/Assessment Year: 2009-10 बनाम Express Drilling Systems Llc, Dcit, Vs. C/O Nangia & Co., Circle-1, 1St Floor, Ida, 46, International Taxation, E.C. Road, Dehradun, Dehradun, Uttarakhand. Uttarakhand. Pan No. Aabce6891R अपीलाथ" Appellant ""यथ"/Respondent

40(a)(ia) and 201(1) w.e.f. 1st July, 2012 is curative in nature and applies retrospectively to the case of the assessee. (ii) Whether the CIT(A) has erred in directing the Assessing Officer to not levy interest u/s 234B of the Income Tax Act, 1961 when the decision of the Delhi High Court in GE Packaged Power

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

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

Bench: Shri R.K. Panda & Shri V.P. Raoassessment Years: 2016-17

40. Hon’ble Delhi High Court in case cited as CIT vs. Bharat Commerce and Industries Ltd. – 240 ITR 256 (Del.) held that, “An assessee is free to adopt a particular method of valuation of its closing stock which it has to follow regularly from year to year. At the same time it is well settled that irrespective

JOINT COMMISSIONER OF INCOME TAX, SUBHASH ROAD DEHADUN vs. M/S TIMES SQUARE, SAHASTRADHARA ROAD

In the result, appeal of the Revenue is dismissed

40%. It is also noticed that the appellant firm follows\na consistent practice of depositing and withdrawing cash from the bank accounts and\nthe cash withdrawals in the present cash are done as per routine and to conduct\nnormal business activities of the appellant firm and for incurring the day-to-day\nbusiness expenses,\n\n5.1.5 In the present case

ADIT (INTERNATIONAL TAXATION), DEHRADUN vs. M/S. M.I, OVERSEAS LTD., MUMBAI

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

40. In the result, appeal of the assessee for assessment year 2007 – 08 in ITA number 5583/Del/2013 is dismissed. Assessment year 2008 – 09 41. ITA number 462/Del/2012 is filed by the assessee against the order passed by the learned Assistant Director Of Income Tax, International Taxation, Dehradun (the learned AO) passed on 25 November 2011 u/s 143 (3) read with

MI OVERSEAS LTD.,MUMBAI vs. ADIT, DEHRADUN

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

40. In the result, appeal of the assessee for assessment year 2007 – 08 in ITA number 5583/Del/2013 is dismissed. Assessment year 2008 – 09 41. ITA number 462/Del/2012 is filed by the assessee against the order passed by the learned Assistant Director Of Income Tax, International Taxation, Dehradun (the learned AO) passed on 25 November 2011 u/s 143 (3) read with

MI OVERSEAS LTD.,NEW DELHI vs. ADIT, DEHRADUN

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

40. In the result, appeal of the assessee for assessment year 2007 – 08 in ITA number 5583/Del/2013 is dismissed. Assessment year 2008 – 09 41. ITA number 462/Del/2012 is filed by the assessee against the order passed by the learned Assistant Director Of Income Tax, International Taxation, Dehradun (the learned AO) passed on 25 November 2011 u/s 143 (3) read with

MI OVERSEAS LTD.,MUMBAI vs. ADIT, DEHRADUN

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

40. In the result, appeal of the assessee for assessment year 2007 – 08 in ITA number 5583/Del/2013 is dismissed. Assessment year 2008 – 09 41. ITA number 462/Del/2012 is filed by the assessee against the order passed by the learned Assistant Director Of Income Tax, International Taxation, Dehradun (the learned AO) passed on 25 November 2011 u/s 143 (3) read with

MI OVERSEAS LTD.,MUMBAI vs. ADIT, DEHRADUN

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

40. In the result, appeal of the assessee for assessment year 2007 – 08 in ITA number 5583/Del/2013 is dismissed. Assessment year 2008 – 09 41. ITA number 462/Del/2012 is filed by the assessee against the order passed by the learned Assistant Director Of Income Tax, International Taxation, Dehradun (the learned AO) passed on 25 November 2011 u/s 143 (3) read with

ADIT (INTERNATIONAL TAXATION), DEHRADUN vs. M/S. M.I, OVERSEAS LTD., MUMBAI

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

40. In the result, appeal of the assessee for assessment year 2007 – 08 in ITA number 5583/Del/2013 is dismissed. Assessment year 2008 – 09 41. ITA number 462/Del/2012 is filed by the assessee against the order passed by the learned Assistant Director Of Income Tax, International Taxation, Dehradun (the learned AO) passed on 25 November 2011 u/s 143 (3) read with

ADIT, DEHRADUN vs. M/S. M.I. OVERSEAS LTD., NOIDA

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

40. In the result, appeal of the assessee for assessment year 2007 – 08 in ITA number 5583/Del/2013 is dismissed. Assessment year 2008 – 09 41. ITA number 462/Del/2012 is filed by the assessee against the order passed by the learned Assistant Director Of Income Tax, International Taxation, Dehradun (the learned AO) passed on 25 November 2011 u/s 143 (3) read with

DCIT, CENTRAL CIRCLE, DEHRADUN vs. SWARNGANGA CONSTRUCTION P.LTD, BHILWARA

In the result, both the appeals of the revenue are allowed for statistical purposes

Bench: Shri R.K. Panda & Shri V.P. Rao

40,95,000/- without appreciating that in view of the amended provisions, the burden u/s 68 could not have been said to be discharged by assessee just by filing confirmations/financial statement for the first time at appellate stage in view of the ratio of decision in case of NR Portfolio Pvt. Ltd.264 CTR 258(Delhi), Nova promoters &finlease

M/S. SHEEL CHAND AGROILS (P) LTD.,NEW DELHI vs. ACIT, HALDWANI

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

40,00,000/- on account of sundry creditors by treating it as alleged unexplained cash credit u/s 68 and more so when no incriminating material was found as a result of search. 7. That in any case and in any view of the matter, action of Ld. CIT(A) in confirming the action of Ld. AO in making aggregate addition

ACHARYA BALKRISHNA,HARIDWAR vs. DCIT, DEHRADUN

In the result appeal of the assessee is allowed

Bench: SHRI YOGESH KUMAR U.S. (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

40,460/. The case of the assessee was reopened u/s 147 of the Act by issue of notice u/s 148 on 28.06.2021, copy of the same is placed in PB-2 of the assessee. In terms of the decisions of Hon’ble Supreme Court in the case of Union of India and Ors. vs. Ashish Agarwal in Civil Appeal No.3005/2022

ACIT, NAINITAL vs. M/S. 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

40,612/- received from the Government since 2006 (vi) Disallowance of interest Rs.65,56,936/- on earmarked fund (vii) Taxability of contract receipt of Rs.1,38,08,610/- on accrual basis (viii) Disallowance of interest under section 14A. 3.1 Vide 5 grounds; the Revenue has raised following issues (i) Disallowance of employees’ contribution in ECGI under section

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

40,612/- received from the Government since 2006 (vi) Disallowance of interest Rs.65,56,936/- on earmarked fund (vii) Taxability of contract receipt of Rs.1,38,08,610/- on accrual basis (viii) Disallowance of interest under section 14A. 3.1 Vide 5 grounds; the Revenue has raised following issues (i) Disallowance of employees’ contribution in ECGI under section

SH. NITIN SINGHAL,U.S.NAGAR vs. ITO, U.S.NAGAR

In the result, appeal filed by the Assessee is dismissed

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwali.T.A. No. 08/Ddn/2024 (A.Y 2015-16) Sh. Nitin Singhal Vs. Ito Matta Garg & Co. Chartered U.S. Nagar Accountants, 15, Astley Hall, Ward-2(2)(4), Bajpur, Dehradun, Uttarakhand Udhamsingh Nagar, Pan: Aqwps4877P Uttarakhand, 262401

40 lacs in the capital account of M/s. Rajlaxmi Foods through sale of shares of HPC Biosciences Ltd and Esteem Bio Organic Food Processing Ltd, LTCG on 5 Sh. Nitin Singhal Vs. ITO which was claimed exempt u/s 10(38), the Ld PCIT, Haldwani set aside the AO's order by way of order u/s 263 and directed

SCHLUMBERGER ASIA SERVICES LTD.,DEHRADUN vs. DCIT, CIRCLE- 2, INTL. TAXATION, DEHRADUN

In the result, the appeal of the assessee for the Asst Year 2015-16 is partly allowed and that of the revenue is dismissed

Bench: Shri Saktijit Dey & Shri M. Balaganeshita No. 5223/Del/2018 (A. Y.: 2015-16) Schlumberger Asia Services Ltd, Vs. Dcit, 14Th Floor, Tower-C, Building Circle-2, No. 1, Dlf City, Phase-Ii, International Taxation, Gurgaon Dehradun (Appellant) (Respondent) Pan: Aadcs1107J

68,19,422/- c) Reimbursement amounting to Rs 10,84,47,712/-. 4.5. The ld. AO held that the service tax receipts mentioned in a) above should be included as part of gross contractual receipts taxable u/s 44BB of the Act. As far as amount received towards Lost in Hole, the ld. AO by following the decision