PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation carried forward in the year the deduction is claimed. 34. This ratio applies to ground nos. 1 & 2 of the departmental appeal for the assessment years 2009-10, 2010-11 and ground no. 1 for the assessment year 2011-12. Deduction u/s 14A: The appeal of the revenue on Rule 8D(2)(ii) The appeal of the assessee

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation carried forward in the year the deduction is claimed. 34. This ratio applies to ground nos. 1 & 2 of the departmental appeal for the assessment years 2009-10, 2010-11 and ground no. 1 for the assessment year 2011-12. Deduction u/s 14A: The appeal of the revenue on Rule 8D(2)(ii) The appeal of the assessee

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation carried forward in the year the deduction is claimed. 34. This ratio applies to ground nos. 1 & 2 of the departmental appeal for the assessment years 2009-10, 2010-11 and ground no. 1 for the assessment year 2011-12. Deduction u/s 14A: The appeal of the revenue on Rule 8D(2)(ii) The appeal of the assessee

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation carried forward in the year the deduction is claimed. 34. This ratio applies to ground nos. 1 & 2 of the departmental appeal for the assessment years 2009-10, 2010-11 and ground no. 1 for the assessment year 2011-12. Deduction u/s 14A: The appeal of the revenue on Rule 8D(2)(ii) The appeal of the assessee

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation carried forward in the year the deduction is claimed. 34. This ratio applies to ground nos. 1 & 2 of the departmental appeal for the assessment years 2009-10, 2010-11 and ground no. 1 for the assessment year 2011-12. Deduction u/s 14A: The appeal of the revenue on Rule 8D(2)(ii) The appeal of the assessee

DCIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE FINVEST LTD., NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

depreciation claimed on vehicles give on finance lease requires to be deleted. Accordingly, the Ground No. 2 to 2.4 of the Assessee’s Appeal in I.T.A. No. 4796/Del/2017 are allowed. 23 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT Ad-hoc disallowances of support service fee and reimbursement of expenses 17. Ground No. 3

RELIGARE FINVEST LTD.,NEW DELHI vs. DCIT, CIRCLE- 21(1), NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

depreciation claimed on vehicles give on finance lease requires to be deleted. Accordingly, the Ground No. 2 to 2.4 of the Assessee’s Appeal in I.T.A. No. 4796/Del/2017 are allowed. 23 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT Ad-hoc disallowances of support service fee and reimbursement of expenses 17. Ground No. 3

RELIGARE FINVEST LTD.,NEW DELHI vs. ACIT, CIRCLE- 21(1), NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

depreciation claimed on vehicles give on finance lease requires to be deleted. Accordingly, the Ground No. 2 to 2.4 of the Assessee’s Appeal in I.T.A. No. 4796/Del/2017 are allowed. 23 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT Ad-hoc disallowances of support service fee and reimbursement of expenses 17. Ground No. 3

RELIGARE FINVEST LTD.,NEW DELHI vs. DCIT, CIRCLE- 21(1), NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

depreciation claimed on vehicles give on finance lease requires to be deleted. Accordingly, the Ground No. 2 to 2.4 of the Assessee’s Appeal in I.T.A. No. 4796/Del/2017 are allowed. 23 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT Ad-hoc disallowances of support service fee and reimbursement of expenses 17. Ground No. 3

ACIT (OSD), CIRCLE- 21(1), NEW DELHI vs. RELIGARE FINVEST LTD., NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

depreciation claimed on vehicles give on finance lease requires to be deleted. Accordingly, the Ground No. 2 to 2.4 of the Assessee’s Appeal in I.T.A. No. 4796/Del/2017 are allowed. 23 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT Ad-hoc disallowances of support service fee and reimbursement of expenses 17. Ground No. 3

RELIGARE FINVEST LTD.,NEW DELHI vs. DCIT, CIRCLE- 21(1), NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

depreciation claimed on vehicles give on finance lease requires to be deleted. Accordingly, the Ground No. 2 to 2.4 of the Assessee’s Appeal in I.T.A. No. 4796/Del/2017 are allowed. 23 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT Ad-hoc disallowances of support service fee and reimbursement of expenses 17. Ground No. 3

ACIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE FINVEST LTD.,, NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

depreciation claimed on vehicles give on finance lease requires to be deleted. Accordingly, the Ground No. 2 to 2.4 of the Assessee’s Appeal in I.T.A. No. 4796/Del/2017 are allowed. 23 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT Ad-hoc disallowances of support service fee and reimbursement of expenses 17. Ground No. 3

DLF LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Bench: Shri Amit Shukla & Shri L.P. Sahu

194A. In any case, once amount decreed by Arbitral Tribunal, it is a kind of a judgment debt and overrides the provisions of Income Tax Act; and in support, he relied upon the following judgments:- 1. Islamic Investment Co. v. UOI [2004] 265 ITR 254 (Bom.) I.T.A. No.2126 & 2749/DEL/2013 16 2. Madhusudan Shrikrishna v. Emkay Exports [2010] 188 Taxman

DCIT, NEW DELHI vs. M/S. DLF LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri L.P. Sahu

194A. In any case, once amount decreed by Arbitral Tribunal, it is a kind of a judgment debt and overrides the provisions of Income Tax Act; and in support, he relied upon the following judgments:- 1. Islamic Investment Co. v. UOI [2004] 265 ITR 254 (Bom.) I.T.A. No.2126 & 2749/DEL/2013 16 2. Madhusudan Shrikrishna v. Emkay Exports [2010] 188 Taxman

ACIT, MEERUT vs. M/S. PIONEER FABRICATORS PVT. LTD., MEERUT

In the result ground No. 6 of the appeal of the assessee is allowed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiacit, Vs. Pioneer Fabricators Pvt. Ltd, Circle-2, Meerut B-2, Saraswati Industrial Estate, Partapur, Meerut Pan:Aabcp3296R (Appellant) (Respondent) Pioneer Fabricators Pvt. Ltd, Acit, Vs. B-2, Saraswati Industrial Estate, Circle-2, Meerut Pioneer Partapur, Meerut Fabricators Pvt. Ltd, Pan:Aabcp3296R B-2, Saraswati Industrial Estate, Partapur, Meerut Pan:Aabcp3296R (Appellant) (Respondent)

v. The Ld. assessing officer during the year noted that the assessee has unsecured loan of Rs. 10912667/– and assessee was asked to produce the details of unsecured loans along with the confirmation and copy of the transactions etc. Further, the notices under section 133 (6) of the income tax act were also issued to the unsecured loan depositors

HUAWEI TELECOMMUNICATIONS (INDIA) COMPANY PVT. LTD.,GURGAON vs. ACIT, CIRCLE- 2(1), GURGAON

Bench: Shri R.K. Panda & Shri Kuldip Singh

depreciation at the rate of 25 percent of the advertisement expenses allegedly held as capital in nature. 4. Addition on account of provision for customer claims – Rs.1,010,856,249 4.1 The Ld. AO and the Hon'ble DRP erred on the facts and in law in confirming disallowance towards provision for customer claims

HUAWEI TELECOMMUNICATIONS (INDIA) COMPANY PVT. LTD.,GURGAON vs. ACIT, CIRCLE- 2(1), GURGAON

Bench: Shri R.K. Panda & Shri Kuldip Singh

depreciation at the rate of 25 percent of the advertisement expenses allegedly held as capital in nature. 4. Addition on account of provision for customer claims – Rs.1,010,856,249 4.1 The Ld. AO and the Hon'ble DRP erred on the facts and in law in confirming disallowance towards provision for customer claims

RAM GARHIA CO-OPERATIVE BANK LIMITED,NEW DELHI vs. ACIT, CIRCLE- 63(1), NEW DELHI

In the result, the Appeal of the assessee is partly allowed for statistical purpose

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.I.T.A. No. 6792/Del/2018 (A.Y 2013-14)

V. Disallowance out of Entertainment Expenses Rs. 59,480 /- VI. Disallowance out of staff welfare Expenses Rs.4,085/- VII. Disallowance out of Miscellaneous Expenses Rs. 1,30,778/- VIII. Disallowance out of Honorarium Expenses Rs.1.58,719/- IX. Disallowance out of General body meeting Expenses Rs.41,184/- X. Disallowance out of Repairs and renovation Expenses ' Rs.1,27,823/- XL Disallowances

ACIT, NEW DELHI vs. M/S SUBASH DABAS, NEW DELHI

In the result, all the appeals of the Assessees are allowed

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

depreciation at Rs.31,255/- and 1/5th of repair and maintenance at Rs.20,495/- . Thus, the Assessing Officer determined the total income of the assessee at Rs.19,19,39,700/-. 9. Before the Ld. CIT(A), the assessee made elaborate submissions and filed an application under Rule 46A of the Income Tax Rules, 1962 (in short ‘the Rules) for admission