DLF LIMITED,DELHI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

section 145 of the Act. Reliance is placed on the decision of the Supreme Court in the i) case of Apollo Tyres Ltd. v. CIT [2002] 298 ITR 273/122 taxman 562 (SC) (refer Page 405-415 of Paper Book Vol-2), wherein while determining net profit, arrears of depreciation

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

section 145 of the Act. Reliance is placed on the decision of the Supreme Court in the i) case of Apollo Tyres Ltd. v. CIT [2002] 298 ITR 273/122 taxman 562 (SC) (refer Page 405-415 of Paper Book Vol-2), wherein while determining net profit, arrears of depreciation

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

section 145 of the Act. Reliance is placed on the decision of the Supreme Court in the i) case of Apollo Tyres Ltd. v. CIT [2002] 298 ITR 273/122 taxman 562 (SC) (refer Page 405-415 of Paper Book Vol-2), wherein while determining net profit, arrears of depreciation

INCOME TAX OFFICER WARD-2(1), FARIDABAD vs. PRAHLAD, PALWAL

In the result, the Revenue’s appeal is partly allowed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

section 145(3) of the Income Tax Ad. 1961 which was forwarded to the Range Head on the very same day. The Range Head of this unit on 27.00.2022 has given the following directions u/s 144A of the Act. 1. Being the data of High Risk Billers received from the CBIC and the CASS Rationale highlighted to verify the genuineness

DCIT CENTRAL CIRCLE, KARNAL vs. RELIABLE REALTECH PVT LTD, BHIWANI

In the result, appeal of the Revenue is dismissed

Bench: Shri M Balaganesh & Ms. Astha Chandraasstt. Year: 2014-15 Dcit, Central Circle, Vs. Reliable Realtech Pvt. Ltd. Ayakar Bhawan, C/O Nk Jain Adv. Sec-12, Karnal, Naya Bazar, Bhiwani Haryana Pin 132001 Haryana Pin 127021 Pan Aadcr4203L (Appellant) (Respondent)

Section 145 of the Act and its profits were computed by applying the AS-7. The AO added a sum of Rs. 1,56,88,100 to the Assessee's declared income by applying the percentage completion method. Apart from this the AO disallowed certain other sums including the sums on account of depreciation

DCIT, NEW DELHI vs. SMT. DEEPTI AGARWAL, NEW DELHI

In the result appeal of the revenue is dismissed and Cross objection of the assessee is partly allowed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishidcit, Vs. Deepti Agarwal, Circle-31(1), Room No. 1405, Prop M/S. Superior Fabrics, 14Th Floor, E-2, Block, Maharaja Lane, Civil Lines, Prataykshkar Bhawan, Dr. New Delhi Shyama Prasad, Mukherjee Civc Pan: Aampa0573C Centre, Jn Nehru Marg, New Delhi (Appellant) (Respondent)

145(8) of the Act is not based on well founded ground is held as DCIT Vs. Deepti Agarwal, ITA No. 3609/Del/2013 & CO No. 234/Del/2013 (Assessment Year: 2009-10) bad in law. Therefore the book results are admitted for the purpose of computation of income. 14. Regarding the disallowance made by the Assessing Officer

M/S. GL LITMUS EVENTS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

Appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri K. N. Charygl Litmus Events Pvt. Ltd, The Assistant Commissioner Vs. B-90, Second Floor, Of Income Tax Vishwakarma Colony, New Delhi Central Circle-7, New Delhi Pan: Aadcg6909N (Appellant) (Respondent)

section 145, which concerns are correct and complete account but which, in the opinion of the officer, does not disclose the true and proper income.” 35. Further at page number 53 the honourable Supreme Court further held that:- “it is not only the right but the duty of the assessing officer to consider whether or not the books disclose

DCIT, NEW DELHI vs. M/S RAILTEL CORPORATION OF INDIA LTD.,, DELHI

Bench: Shri S.K. Yadav & Shri Anadee Nath Misshra

section 145(2) of the Act. (b) Any change in method of accounting will have to strictly comply with the requirements- If the requirements cannot be justified, as statutorily required, or otherwise as mentioned on the basis of sound commercial reasoning or application of accounting principles, such change in the method of accounting could be disregarded by the Assessing Officer

JCIT, GHAZIABAD vs. M/S. SYSTEM CONTROLS & TRANSFORMERS PVT. LTD., GHAZIABAD

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

Bench: Smt Diva Singh & Shri Anadi N. Mishrasystem Controls & Transformers Pvt. Jcit, Ltd., Range-2, Cgo-2, Vs. Ghaziabad Urban Cooperative Bank Ltd, Hapur Road, Ghaziabad Ghaziabad (Appellant) (Respondent)

145 (2) of the Act, the trading addition has been to the Account Of Rs. 7482642/-. However, since additions totalling Rs. 2944719/- under the heads purchases from Raj Lubricants not sold nor shown in the closing stock (Rs. 316250/-), disallowance of job work made in contravention to the provisions of section 40A(3) to the two fabricators (Rs. 2327698/-), profit

HCL COMNET LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result this ground is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

section Income-tax act, 1961. 145 and the effect thereof on the profit or loss. 13.2. Ld. counsel submitted that there is no change in the method followed. He pointed out that since consistent method is being followed, therefore, the same is revenue neutral and cannot be disturbed in one year. He pointed out that assessee has estimated

DCIT, NEW DELHI vs. M/S. HCL COMNET LTD., NEW DELHI

In the result this ground is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

section Income-tax act, 1961. 145 and the effect thereof on the profit or loss. 13.2. Ld. counsel submitted that there is no change in the method followed. He pointed out that since consistent method is being followed, therefore, the same is revenue neutral and cannot be disturbed in one year. He pointed out that assessee has estimated

HCL COMNET LTD.,NEW DELHI vs. CIT, NEW DELHI

In the result this ground is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

section Income-tax act, 1961. 145 and the effect thereof on the profit or loss. 13.2. Ld. counsel submitted that there is no change in the method followed. He pointed out that since consistent method is being followed, therefore, the same is revenue neutral and cannot be disturbed in one year. He pointed out that assessee has estimated

ACIT, NEW DELHI vs. M/S. HCL COMNET LTD., NEW DELHI

In the result this ground is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

section Income-tax act, 1961. 145 and the effect thereof on the profit or loss. 13.2. Ld. counsel submitted that there is no change in the method followed. He pointed out that since consistent method is being followed, therefore, the same is revenue neutral and cannot be disturbed in one year. He pointed out that assessee has estimated

DCIT, NEW DELHI vs. M/S. HCL COMNET LTD., NEW DELHI

In the result this ground is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

section Income-tax act, 1961. 145 and the effect thereof on the profit or loss. 13.2. Ld. counsel submitted that there is no change in the method followed. He pointed out that since consistent method is being followed, therefore, the same is revenue neutral and cannot be disturbed in one year. He pointed out that assessee has estimated

M/S. GL LITMUS EVENTS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is partly allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastavam/S.Gl Litmus Events Pvt. Vs. Acit Ltd. Central Circle-17, B-90, Second Floor, Room No. 356, Vishwakarma Colony Ara Centre, New Delhi – 110 044 Jhandewalan Extension Pan Aadcg6909N New Delhi – 110 055 (Appellant) (Respondent) Asstt. Year: 2012-13

section 145, which concerns are correct and complete account but which, in the opinion of the officer, does not disclose the true and proper income.” 26 GL Litmus Events Pvt. Ltd. vs ACIT 35. Further at page number 53 the honourable Supreme Court further held that:- “it is not only the right but the duty of the assessing officer

M/S. PARAMOUNT COMMUNICTIONS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

section 145(2) of the Act. Referring to the decision of the Hon’ble Delhi High Court in the case of CIT v. Virtual Soft Systems Ltd. (2012) 341 ITR 593(Del) @ 602 – 603, he submitted that the Hon’ble Delhi High Court has elaborated the duty of the AO to follow Accounting Standards. This judgment has been approved

PARAMOUNT COMMUNICATIONS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

section 145(2) of the Act. Referring to the decision of the Hon’ble Delhi High Court in the case of CIT v. Virtual Soft Systems Ltd. (2012) 341 ITR 593(Del) @ 602 – 603, he submitted that the Hon’ble Delhi High Court has elaborated the duty of the AO to follow Accounting Standards. This judgment has been approved

DCIT, NEW DELHI vs. M/S. PARAMOUNT COMMUNICATION PVT. LTD., NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

section 145(2) of the Act. Referring to the decision of the Hon’ble Delhi High Court in the case of CIT v. Virtual Soft Systems Ltd. (2012) 341 ITR 593(Del) @ 602 – 603, he submitted that the Hon’ble Delhi High Court has elaborated the duty of the AO to follow Accounting Standards. This judgment has been approved