YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

12. Learned Senior counsel for the assessee, Shri S. Ganesh, and other counsel, i.e Shri Rakesh Gupta, and Shri Salil Kapoor emphasized the phraseology of Section 10(10CC) and argued that the expressions calling for interpretation are "a perquisite, not provided for by way of monetary payment". Likewise, what are "provided for by way of” has to be construed

MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarmr. Nikhil Sawhney, Vs. Dcit, 17, Sunder Nagar, Central Circle, New Delhi-11003 Noida (Appellant) (Respondent) Pan: Aaups0222Q

section 5 and the third proviso thereto: "5. This Act shall apply to every business of which any part of the profits made during the chargeable accounting period is Mr. Nikhil Sawhney chargeable to income-tax by virtue of the provisions of sub- clause (i) or sub-clause (ii) of clause (b) of sub-section (1) of section

THE ORIENTAL INSURANCE CO. LTD.,NEW DELHI vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

Section 10(38) of the Act. However, the matter needs to be restored to the files of the Ld. AO to enquire that claim of assessee u/s 10(38), fulfills the desired conditions about payment of Securities Transaction Tax (STT).” Accordingly, the issue is decided in favour of the assessee and Ld. AO is directed to verify about the status

DCIT, CIRCLE- 1, LTU, NEW DELHI vs. THE ORIENTAL INSURANCE CO. LTD., NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

Section 10(38) of the Act. However, the matter needs to be restored to the files of the Ld. AO to enquire that claim of assessee u/s 10(38), fulfills the desired conditions about payment of Securities Transaction Tax (STT).” Accordingly, the issue is decided in favour of the assessee and Ld. AO is directed to verify about the status

ITO, NEW DELHI vs. M/S ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

In the result, the cross-objection filed by the assessee is dismissed

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

section In the assessment order, the assessing officer proportionately allocated following expenses to the eligible 80IB(10) of the projects in ratio or sales and consequently proposed disallowance of deduction Rs.3,59,98,438 for all nine Act on account projects. However, considering that out of the 9 projects, the assessing officer had already disallowed the of proportionate entire claim

M/S THE ORIENTAL INSSURANCE CO.LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmam/S. The Oriental Insurance Co. Ltd, Vs. The Dcit, A 25/27, Asaf Ali Road, Ltu, New Delhi New Delhi-110002 (Appellant) (Respondent) Pan: Aaact0627R

12,37,16,049/- under normal provisions of the Income Tax Act, 1961 and also computed book loss at Rs.2,18,28,09,334/- u/s. 115JB of the Act after making the following additions/disallowances: (a) Profit on sale of investments - Rs. 10,27,94,88,259/- Interest not recognized as (b) Income - Rs. 80,52,21,000/- (c) Disallowance

MANKIND PHARMA LIMITED,DELHI vs. DCIT, CIRCLE-1(1)(1), MEERUT

In the result, the additional Ground No

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

Disallowance of Deduction under section 35(2AB) amounting to Rs. 12,01,42,780/- 5. That the assessing officer erred on facts and in law in allowing weighted deduction under section 35(2AB) of the Act at Rs.100,90,68,000 as against Rs.112,92,10

DCIT,C-11(1), NEW DELHI vs. HERO MOTOCORP LTD.,, NEW DELHI

Appeal of the Revenue is dismissed

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat

12 Under the provisions of section 115JB of the Act, the assessing officer, it is respectfully submitted, has limited powers of only making adjustments of items as provided in Explanation to that section. The assessing officer does not, it is respectfully submitted, has the authority to make adjustments which are not consistent with the items specified in Explanation to Section

RICHMOND EDUCATIONAL SOCIETY,NOIDA vs. DCIT/ACIT CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD

In the result, the appeal of the Assessee is allowed

12, 13 and section\n12AB of the Act, wherein violations of section 13(1) of the Act are\nconsciously excluded from the list of specified violations under the\nExplanation to Section 12AB(4) of the Act. We find that post Finance\nAct, 2022, the provisions of section 13(1)(c) of the Act very clearly mention\nthat if there

CONFRERE EDUCATIONAL SOCIETY,NOIDA vs. ITO (EXEMPTION), NOIDA

In the result, the appeal of the assessee is allowed

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharma

10. 8. So far as the issue, whether income derived by the assessee from an activity of running school can be treated as income from property held under the trust or not, he submitted that section 2(24) defines the scope of ‘income’ which also refers to voluntary contribution received by the charitable trust or institution and Section

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. PTC INDIA FINANCIAL SERVICES LTD, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

12,525/- and reducing therefrom suo moto disallowance of Rs. 37,56,650/- made by the assessee, the Ld. AO made disallowance of Rs. 1,13,55,875/- under section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment

PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, CIRCLE- 19(2), NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

12,525/- and reducing therefrom suo moto disallowance of Rs. 37,56,650/- made by the assessee, the Ld. AO made disallowance of Rs. 1,13,55,875/- under section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment

ACIT, NEW DELHI vs. M/S. PTC INDIA FINANCIAL SERVICES LTD., NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

12,525/- and reducing therefrom suo moto disallowance of Rs. 37,56,650/- made by the assessee, the Ld. AO made disallowance of Rs. 1,13,55,875/- under section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment

M/S. PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

12,525/- and reducing therefrom suo moto disallowance of Rs. 37,56,650/- made by the assessee, the Ld. AO made disallowance of Rs. 1,13,55,875/- under section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment

DY. COMMISSIONER OF INCOME TAX, CGO COMPLEX, HAPUR CHUNGI vs. KANPUR DEVELOPMENT AUTHORITY, MOTIJHEEL, KANPUR

In the result, Appeal of the Revenue is dismissed

disallowed claims related to infrastructure fund and a contribution to AwasBandhu, treating the surplus as business income. The CIT(A) allowed the assessee's appeal, and the Revenue appealed to the ITAT.", "held": "The ITAT held that the assessee's activities were not hit by the proviso to Section 2(15) and it was eligible for exemption under Sections

BHAGWANT SINGH CHARITABLE TRUST,NEW DELHI vs. ACIT(EXEMPTION), CIRCLE-1(1), NEW DELHI

In the result, the appeal of the assessee is dismissed

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

10. The ld. CIT(A) having considered the assessment order and the submissions of the appellant, School Management and Operation Agreement observed that the assessee trust has entered into an agreement to provide its expertise in consideration of fee. The ld. CIT(A) held that the Memorandum of Association of the assessee society as well as the Management Agreement entered

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

12. Prior to the introduction of section 14A in the said Act, the position in law was as laid down by the Supreme Court in CIT v. Maharashtra Sugar Mills Ltd: 82 ITR 452 (SC) and Rajasthan State Warehousing Corporation v. CIT: 242 ITR 450 (SC). In Maharashtra sugar Mills Ltd (supra) the assessee’s business comprised of two parts

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

12. Prior to the introduction of section 14A in the said Act, the position in law was as laid down by the Supreme Court in CIT v. Maharashtra Sugar Mills Ltd: 82 ITR 452 (SC) and Rajasthan State Warehousing Corporation v. CIT: 242 ITR 450 (SC). In Maharashtra sugar Mills Ltd (supra) the assessee’s business comprised of two parts