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 of the paper-book, which contain details of capital gain of ₹ 1,21,48,156

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 of the paper-book, which contain details of capital gain of ₹ 1,21,48,156

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 of the paper-book, which contain details of capital gain of ₹ 1,21,48,156

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

section 14A. 31.4 Dissatisfied the Revenue is in appeal challenging the deletion of the impugned disallowances in both the AY(s). 32. We have heard the Ld. Representative of the parties and perused the records. We observe that in AY 2010-11 against the deletion of disallowance of Rs. 4,74,88,156

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

section 14A. 31.4 Dissatisfied the Revenue is in appeal challenging the deletion of the impugned disallowances in both the AY(s). 32. We have heard the Ld. Representative of the parties and perused the records. We observe that in AY 2010-11 against the deletion of disallowance of Rs. 4,74,88,156

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

section 14A. 31.4 Dissatisfied the Revenue is in appeal challenging the deletion of the impugned disallowances in both the AY(s). 32. We have heard the Ld. Representative of the parties and perused the records. We observe that in AY 2010-11 against the deletion of disallowance of Rs. 4,74,88,156

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

section 14A. 31.4 Dissatisfied the Revenue is in appeal challenging the deletion of the impugned disallowances in both the AY(s). 32. We have heard the Ld. Representative of the parties and perused the records. We observe that in AY 2010-11 against the deletion of disallowance of Rs. 4,74,88,156

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

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

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

disallowing this claim. Therefore, Ground No. 18 to 18.2 are allowed in favour of the assessee.” From the records it can be seen that the provision for the material is worked out in respect of price amendments which were already issued on 31.03.2009 which was made on the basis of actual supplied made upto the end of the year

VEDANTA LTD (SUCCESSOR TO CAIRN INDIA LTD),GURGAON vs. ACIT, CIRCLE-26(1), NEW DELHI

Bench: Hon’Ble, Shri N.K. Saini & Shri Kuldip Singh

156 Taxman 257 (P&H) to negative the assessee’s claim on this issue as well. That is how, he did not find correct the assessee’s working of disallowance. Thereafter, the provisions of section

PR. COMMISSIONER OF INCOME TAX -7 vs. SUMITOMO CORPORATION INDIA (P) LTD.

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MARUTI SUZUKI INDIA LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MICROSOFT INDIA ( R & D) PVT. LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156

HERO MOTOCROP LTD.,NEW DELHI vs. ACIT, CIRCLE- 11(1), NEW DELHI

The appeal of the assessee is partly allowed

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2015-16

disallowance made in that year was deleted on the ground that since in the first place, the Hero Motocorp Ltd. vs. ACIT parties were not related to the assessee company in terms of section 40A (2), disallowance on ground of excessive purchase price could not have been made under that section. Further, the Tribunal held that the transactions were entered

CIT vs. ENGINEERS INDIA LTD

In the result, the appeal is

disallowance to ₹25,000/-. It was in the course of hearing before the CIT (Appeals) that the assessee raised the question of the AO not having allowed interest under Section 244A of the Income Tax Act on the amount in excess deposited as self-assessment tax. 8. The contentions of the appellant were noted by CIT (Appeals) as under

ACIT, NEW DELHI vs. M/S. SOUL SPACE PROJECTS LTD., NEW DELHI

In the result, the appeals of the revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Ms. Sushma Chowladr. B. R. R. Kumarita No. 193/Del/2015 : Asstt. Year : 2007-08 Ita No. 1849/Del/2015 : Asstt. Year : 2008-09 Acit, Vs Soul Space Projects Ltd., Central Circle-15, E-23/B-1, Extn. Mcie, Mathura New Delhi-110055 Road, New Delhi-110044 (Appellant) (Respondent) Pan No. Aajcs7736F Co No. 271/Del/2015 : Asstt. Year : 2007-08 Co No. 284/Del/2015 : Asstt. Year : 2008-09 Soul Space Projects Ltd., Vs Acit, E-23/B-1, Extn. Mcie, Mathura Central Circle-15, Road, New Delhi-110044 New Delhi-110055 (Appellant) (Respondent) Pan No. Aajcs7736F

156/- made on account of depreciation disallowance. 8. The Ld. Commissioner of Income Tax (Appeals) has erred in law as well as on facts in deleting the addition of Rs. 43,03,908/- made on account of disallowance of proportionate interest expenses. 9. The Ld. Commissioner of Income Tax (Appeals) has erred in law as well as on facts

ACIT, NEW DELHI vs. M/S. SOUL SPACE PROJECTS LTD., DELHI

In the result, the appeals of the revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Ms. Sushma Chowladr. B. R. R. Kumarita No. 193/Del/2015 : Asstt. Year : 2007-08 Ita No. 1849/Del/2015 : Asstt. Year : 2008-09 Acit, Vs Soul Space Projects Ltd., Central Circle-15, E-23/B-1, Extn. Mcie, Mathura New Delhi-110055 Road, New Delhi-110044 (Appellant) (Respondent) Pan No. Aajcs7736F Co No. 271/Del/2015 : Asstt. Year : 2007-08 Co No. 284/Del/2015 : Asstt. Year : 2008-09 Soul Space Projects Ltd., Vs Acit, E-23/B-1, Extn. Mcie, Mathura Central Circle-15, Road, New Delhi-110044 New Delhi-110055 (Appellant) (Respondent) Pan No. Aajcs7736F

156/- made on account of depreciation disallowance. 8. The Ld. Commissioner of Income Tax (Appeals) has erred in law as well as on facts in deleting the addition of Rs. 43,03,908/- made on account of disallowance of proportionate interest expenses. 9. The Ld. Commissioner of Income Tax (Appeals) has erred in law as well as on facts

VEDANTA LTD ,GURGAON vs. ACIT, CIRCLE- 26(2), NEW DELHI

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[Assessment Year: 2014-15]

Section 14A of the Act. It is the say of the ld. DR that suo moto disallowance made by the assessee does not have any scientific working nor any basis and suo moto disallowance of Rs.1.94 crores is meagre as compared to the amount of exempt income. 42. We have carefully considered the rival submissions and have perused the orders