MARUTI SUZUKI INDIA LIMITED,NEW DELHI vs. ACIT, SPL. RANGE-6, NEW DELHI

Bench: Shri G. S. Pannu, Shri N.V.Vasudevan & Shri Vikas Awasthyआअसुं.6997/म ुं/2019(धन.व. 2016-17) Deputy Commissioner Of Income Tax Circle 11(3)(1), Mumbai ...... अपीलाथी/Appellant बनाम Vs. Total Oil India Pvt. Ltd. 3Rd Floor, The Leela Galleria, Andheri ( East), Mumbai 400 059 ..... प्रधिवादी/Respondent Pan: Aaace-2175-M C.O. No.57/Mum/2019 Total Oil India Pvt. Ltd. Mumbai – 400 059 ...... Cross Objector बनाम Vs. Deputy Commissioner Of Income Tax ...... प्रधिवादी/Respondent Circle 11(3)(1), Mumbai.

Section 115-O introduced by the Finance Bill 1997. In terms of Rule 8(1) of the Rules income derived from the sale of tea grown by the assessee and 53 Special Bench - Total Oil India Pvt. Ltd. manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, CIRCLE-16(1), NEW DELHI

Bench: Shri G. S. Pannu, Shri N.V.Vasudevan & Shri Vikas Awasthyआअसुं.6997/म ुं/2019(धन.व. 2016-17) Deputy Commissioner Of Income Tax Circle 11(3)(1), Mumbai ...... अपीलाथी/Appellant बनाम Vs. Total Oil India Pvt. Ltd. 3Rd Floor, The Leela Galleria, Andheri ( East), Mumbai 400 059 ..... प्रधिवादी/Respondent Pan: Aaace-2175-M C.O. No.57/Mum/2019 Total Oil India Pvt. Ltd. Mumbai – 400 059 ...... Cross Objector बनाम Vs. Deputy Commissioner Of Income Tax ...... प्रधिवादी/Respondent Circle 11(3)(1), Mumbai.

Section 115-O introduced by the Finance Bill 1997. In terms of Rule 8(1) of the Rules income derived from the sale of tea grown by the assessee and 53 Special Bench - Total Oil India Pvt. Ltd. manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent

MARUTI SUZUKI INDIA LTD,NEW DELHI vs. DCIT, CIRCLE-16(1), NEW DELHI

Bench: Shri G. S. Pannu, Shri N.V.Vasudevan & Shri Vikas Awasthyआअसुं.6997/म ुं/2019(धन.व. 2016-17) Deputy Commissioner Of Income Tax Circle 11(3)(1), Mumbai ...... अपीलाथी/Appellant बनाम Vs. Total Oil India Pvt. Ltd. 3Rd Floor, The Leela Galleria, Andheri ( East), Mumbai 400 059 ..... प्रधिवादी/Respondent Pan: Aaace-2175-M C.O. No.57/Mum/2019 Total Oil India Pvt. Ltd. Mumbai – 400 059 ...... Cross Objector बनाम Vs. Deputy Commissioner Of Income Tax ...... प्रधिवादी/Respondent Circle 11(3)(1), Mumbai.

Section 115-O introduced by the Finance Bill 1997. In terms of Rule 8(1) of the Rules income derived from the sale of tea grown by the assessee and 53 Special Bench - Total Oil India Pvt. Ltd. manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent

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

disallowance of made under section 14A read with Rule 8D of the Rules cannot be added while computing book profits under section 115

MITSUI KINZOKU COMPONENTS PVT LTD,REWARI vs. INCOME TAX OFFICER, ITO WARD TWO

In the result, appeal of the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

disallowed under Section 14A pf the Act. The Assessee argued that dividend income could not be treated as 'exempt' as the income suffered tax under Section 115

MITSUI KINZOKU COMPONENTS INDIA PVT LTD,REWARI vs. INCOME TAX OFFICER, ITO WARD TWO

In the result, appeal of the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

disallowed under Section 14A pf the Act. The Assessee argued that dividend income could not be treated as 'exempt' as the income suffered tax under Section 115

MITSUI KINZOKU COMPONENTS PVT LTD,REWARI vs. INCOME TAX OFFICER, ITO WARD TWO

In the result, appeal of the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

disallowed under Section 14A pf the Act. The Assessee argued that dividend income could not be treated as 'exempt' as the income suffered tax under Section 115

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

disallowance under section 14A of the Act would be nil. 3.8 Thirdly, submitted that there is net interest income and thus no interest expenditure is required to be allocated towards the investment in assets yielding exempt income. Further, he referred to page 111 to 115

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

disallowance under section 14A of the Act would be nil. 3.8 Thirdly, submitted that there is net interest income and thus no interest expenditure is required to be allocated towards the investment in assets yielding exempt income. Further, he referred to page 111 to 115

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

disallowance under section 14A of the Act would be nil. 3.8 Thirdly, submitted that there is net interest income and thus no interest expenditure is required to be allocated towards the investment in assets yielding exempt income. Further, he referred to page 111 to 115

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

disallowance under section 14A of the Act would be nil. 3.8 Thirdly, submitted that there is net interest income and thus no interest expenditure is required to be allocated towards the investment in assets yielding exempt income. Further, he referred to page 111 to 115

HERO MOTO CORP LTD.,NEW DELHI vs. NEAC, DELHI

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

section 115 JB of the Act holding the same to be an unascertained liability. Re: Disallowance of alleged excessive purchases

HERO MOTOCORP LIMITED,NEW DELHI vs. JCIT, NEW DELHI

In the result appeal of the assessee in ITA No

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

disallowed on the ground of the same being contingent in nature. He further submitted that similar provision for increase in prices as at the end of the year was accepted and allowed in Hero MotoCorp Limited Vs. JCIT & DCIT Vs. Hero MotoCorp Ltd. ITA Nos. 1545/Del/2015 and 2424/Del/2015 (AY 2010-11) ITA No. 1609/Del/2016 and 914/Del/2016 (AY 2011-12) Page

UFLEX LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 27, NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73,134/- being a capital receipt while computing book profit

ACIT, CENTRAL CIRCLE- 27, NEW DELHI vs. UFLEX LTD., NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73,134/- being a capital receipt while computing book profit

UFLEX LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 27, NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73,134/- being a capital receipt while computing book profit

ACIT, CENTRAL CIRCLE- 27, NEW DELHI vs. UFLEX LTD., NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73,134/- being a capital receipt while computing book profit

UFLEX LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 27, NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73,134/- being a capital receipt while computing book profit