NTT DATA GLOBAL DELIVERY SERVICES LTD.,BANGALORE vs. DCIT, NEW DELHI

The appeal of the assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishintt Data Global Delivery Vs. Dcit, Services Ltd, Circle-13(1), No. 17, South End Road, New Delhi Bangalore Pan: Aabck7777J (Appellant) (Respondent)

disallowance of deduction under section 10 A, is required to be made on other income and miscellaneous income of the assessee. Accordingly, he held that INR 24 4340 5880/– is other income, though it can be assessed as the business income of the assessee. However same cannot be said to be the income derived from export-oriented undertaking. Therefore

CHAUDHARY CHARAN SINGH HARYANA AGRICULTURAL UNIVERSITY,HISSAR vs. ITO,EXEMPTION, ROHTAK

In the result, the appeal of the assessee is allowed

Bench: Ms. Madhumita Roy & Shri Brajesh Kumar Singh[Assessment Year 2018-19]

section 139(4C)(e) of the Act, as the assessee had failed to file its return of income u/s 139(1) of the Act, which was mandatory for claiming exemption u/s 10(23C)(iiiab) of the Act and therefore the exemption claimed u/s 10(23C)(iiiab) of the Act was not allowable. The AO, thereafter, disallowed the exemption of Rs.25

ACIT(E), CIRCLE- 1(1), NEW DELHI vs. INDIAN AIRLINES EMPLOYEES PROVIDENT FUND, NEW DELHI

In the result, appeal of the ld AO is dismissed

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing) Acit(E), Vs. Indian Airlines Employees Circle-1(1), Provident Fund, 113, Airlines New Delhi House, Gurudwara Rakab Ganj Road, Near Sansad Marg, New Delhi Pan: Aaati2893R (Appellant) (Respondent)

section 10(25)(i) of the Act as only interest of government securities and public securities is exempt. Therefore, the above sum of Rs. 21.62 was disallowed

YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

10 (10CC) is neutral about the kind of benefit availed by the employee. The 2013:DHC:3744-DB ITA 441/2003 and connected cases Page 25 decisions of the Supreme Court, on Section 40(1) (c) and Section 40A are, in the context of the expressions "any expenditure which results… in the provision of any benefit or amenity or perquisite" read

YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

10 (10CC) is neutral about the kind of benefit availed by the employee. The 2013:DHC:3744-DB ITA 441/2003 and connected cases Page 25 decisions of the Supreme Court, on Section 40(1) (c) and Section 40A are, in the context of the expressions "any expenditure which results… in the provision of any benefit or amenity or perquisite" read

YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

10 (10CC) is neutral about the kind of benefit availed by the employee. The 2013:DHC:3744-DB ITA 441/2003 and connected cases Page 25 decisions of the Supreme Court, on Section 40(1) (c) and Section 40A are, in the context of the expressions "any expenditure which results… in the provision of any benefit or amenity or perquisite" read

M/S. BHARTI AIRTEL LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result appeal of the assessee with respect to ground No

Bench: Shri I.C.Sudhir & Shri Prashant Maharishibharti Airtel Ltd, Addl Cit, Bharti Crescent, 1, Vs. Range-2, Cr Building, Ip Nelson Mandela Road, Vasant Estate, New Delhi Kunj, New Delhi Pan:Aaacb2894G (Appellant) (Respondent) Bharti Airtel Ltd, Addl Cit, Bharti Crescent, 1, Vs. Range-2, Cr Building, Ip Nelson Mandela Road, Vaxant Estate, New Delhi Kunj, New Delhi Pan:Aaacb2894G (Appellant) (Respondent)

25 of 59 second proviso to section 40(a)(ia) of the Act is declaratory and curative in nature and(__it_ has retrospective effect from 1.4.2005 being the date from which which sub-clause (ia} of section 40(a) w as inserted by the Finance Act [No. 2] 2004. From the operative para 6.7 of the first appellate order

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

DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

25 lakh as dividend income (exempt u/s 10(34)) • Some administrative expense must have been incurred in • holding/managing the dividend-yielding shares A proportionate disallowance of Rs. 5 lakh (20% of dividend) is • Revenue's Legal Arguments-While acknowledging CIT(A)'s correct II. analysis of Section

DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

25 lakh as dividend income (exempt u/s 10(34)) • Some administrative expense must have been incurred in • holding/managing the dividend-yielding shares A proportionate disallowance of Rs. 5 lakh (20% of dividend) is • Revenue's Legal Arguments-While acknowledging CIT(A)'s correct II. analysis of Section

DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

25 lakh as dividend income (exempt u/s 10(34)) • Some administrative expense must have been incurred in • holding/managing the dividend-yielding shares A proportionate disallowance of Rs. 5 lakh (20% of dividend) is • Revenue's Legal Arguments-While acknowledging CIT(A)'s correct II. analysis of Section

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

In the result, appeal of the assessee is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimr. Nikhil Sawhney Acit, 17 – Sunder Nagar, Central Circle, Vs. New Delhi – 110 003. Noida. Pan: Aaups0222Q (Appellant) (Respondent)

25,36,949/- which was claimed in the original return. The above loss included a loss of ₹ 9,080,571/- pertaining to the transfer of equity shares and equity oriented mutual funds subject to levy of security transaction tax i.e. u/s 10 (38) of the Act. The balance loss of ₹ 3,456,378 was incurred on transactions other than security

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

25. Section 27B (1) of the IA mandates that no insurer carrying on general insurance business shall "invest or keep invested any part of his assets otherwise than in any of the following approved investments." These 'approved investments are set out in clauses (a) to (j) there under. Section 27B (4) states that an insurer "shall not invest or keep

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

25. Section 27B (1) of the IA mandates that no insurer carrying on general insurance business shall "invest or keep invested any part of his assets otherwise than in any of the following approved investments." These 'approved investments are set out in clauses (a) to (j) there under. Section 27B (4) states that an insurer "shall not invest or keep

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

25. Section 27B (1) of the IA mandates that no insurer carrying on general insurance business shall "invest or keep invested any part of his assets otherwise than in any of the following approved investments." These 'approved investments are set out in clauses (a) to (j) there under. Section 27B (4) states that an insurer "shall not invest or keep

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

ACIT,, NEW DELHI vs. M/S RELIGARE FINVEST LTD.,, NEW DELHI

In the result, for assessment year 2007-08 the appeal of the assessee as well as Revenue are dismissed

Bench: Shri O.P. Kant & Shri Kuldip Singh, Judicialmember

section 10(34)/10(35) of the Act as under: (i) Rs.1,54,00,000/- on equity shares in M/s Karnataka bank Ltd (KBL) held as investment and (ii) Rs.1,23,17,070/- from various mutual funds. 10.2 The assessee suo-motu made disallowance of ₹49,25

RELIGARE FINVEST LTD,NEW DELHI vs. ADDL.CIY, RANGE-21, NEW DELHI

In the result, for assessment year 2007-08 the appeal of the assessee as well as Revenue are dismissed

Bench: Shri O.P. Kant & Shri Kuldip Singh, Judicialmember

section 10(34)/10(35) of the Act as under: (i) Rs.1,54,00,000/- on equity shares in M/s Karnataka bank Ltd (KBL) held as investment and (ii) Rs.1,23,17,070/- from various mutual funds. 10.2 The assessee suo-motu made disallowance of ₹49,25