YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

disallowed. We do not think that the language of Sub-section (5) of Section 40A of the Act provides for or permits such a course. Sub-section (5) applies where an assessee claims a certain deduction saying that he has spent that money in providing, directly or indirectly, either as salary to an employee or in the provision of perquisite

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

17, 2014 (in SLP CC No. 175 of 2014). This court is also supported in its reasoning by the text of section 194C (TDS for "work") and section 194J (TDS of income from "professional services"—the latter expression defined expansively by section 194J(3) Explanation (a)). Neither the provision obliges the person making the payment to deduct anything from contractual

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

17, 2014 (in SLP CC No. 175 of 2014). This court is also supported in its reasoning by the text of section 194C (TDS for "work") and section 194J (TDS of income from "professional services"—the latter expression defined expansively by section 194J(3) Explanation (a)). Neither the provision obliges the person making the payment to deduct anything from contractual

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

17, 2014 (in SLP CC No. 175 of 2014). This court is also supported in its reasoning by the text of section 194C (TDS for "work") and section 194J (TDS of income from "professional services"—the latter expression defined expansively by section 194J(3) Explanation (a)). Neither the provision obliges the person making the payment to deduct anything from contractual

M/S. DHARAMPAL SATYAPAL LTD.,DELHI vs. ACIT, NEW DELHI

Bench: Shri Amit Shukla & Sh. Prashant Maharishi(Through Video Conferencing) Assessment Year: 2012-13 M/S. Dharampal Satyapal Ltd. Acit, 1711, S. P. Mukherjee Marg, Vs Central Circle – 29, Delhi-110006 New Delhi Pan No. Aaacd0132H (Appellant) (Respondent) Appellant By Sh. R. S. Singhavi, Ca Sh. Satyajeet Goel, Ca Respondent By Sh. Sanjay I. Bara, Cit Dr Date Of Hearing: 28/08/2020 Date Of Pronouncement: 07/10/2020 Order

d) of proviso to section 43(5) as per Disallowance of loss AO: arising from sale of which transaction Page 9 Para 13.5 commodities on 5,74,71,113/ NA carried out on 6 commodity exchange - (Fresh issue) on account of DRP: recognized stock speculative loss u/s Page 21 Para 9.3 exchange shall be 43(5) of the Act considered

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)

17-20 that the expression "said due date" used in clause A of proviso to unamended section refers to time specified in Section 139(1) of the Act. The amended section 40(a)(ia) expands and further liberalises the statue when it stipulates that deductions made in the first eleven months of the previous year but paid before

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

5,72,619 Other additions/disallowances Addition w.r.t. to expenditure incurred on in-house 12,01,42,780 scientific research under section 35(2AB) of the Act Disallowance w.r.t. deduction claimed under section 638,13,601 80G of the Act on account of donations given Addition w.r.t. difference in Duty Drawback 2,18,481 10. On receipt of the draft order

PRABHU SARAN GARG CHARITABLE TRUST,NEW DELHI vs. JCIT, GHAZIABAD

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Usita No. 3558/Del/2015 : Asstt. Year 2010-11 Prabhu Saran Garg Charitable Vs. Jcit, Trust, C/O M/S O.P. Sapra & Range-2, Associates, C-763, New Friends Ghaziabad Colony, New Delhi-110025 (Appellant) (Respondent) Pan No. Aaatp9634M Assessee By : Sh. Akhilesh Kumar, Adv. Revenue By : Sh. Girish Kumar Kohali, Sr. Dr Date Of Hearing: 26.07.2022 Date Of Pronouncement: 11.08.2022

disallowing exemption claimed. 2. That, learned commissioner of income tax (Appeals) manifestly erred in rejecting the contention that alleged advances made to three 2 Prabhu Saran Garg Charitable Trust unrelated parties are not ‘investment or deposit’ so as to hit by provisions of S. 13(1)(d) of Act as per the settled law. 3. That, learned commissioner of income

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

17,767/- under section 40(a)(ia) of the Act. Further, the assessing officer held that the entire total trade discount of Rs. 56,90,94,045 given to dealers on sales invoice at the time of sale while alleging that the same was based on achievement of turnover targets which represented commission on which TDS under section 194H

M/S. BECHTEL INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed on transfer

Bench: Shri S.V. Mehrotra & Shri Chandra Mohan Garg

D E R PER CHANDRAMOHAN GARG, J.M. This appeal by the assessee has been preferred against the order of DCIT, Circle 2(1), New Delhi dated 6.1.2014 passed u/s 143(3) r/w section 144C of the Income Tax Act, 1961 (for short the Act) in pursuance to the directions of the Dispute Resolution Panel-I (DRP), New Delhi dated

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

17,070/- from various mutual funds. 10.2 The assessee suo-motu made disallowance of ₹49,25,241/- under section 14A of the Act read with rule 8D of Income-tax Rules, 1962 ( in short ‘the Rules’) as under: Investment Details As at March 31, As at March 31, 2009 2008 Amount (Rs.) Amount (Rs.) Karnatka Bank Limited

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

17,070/- from various mutual funds. 10.2 The assessee suo-motu made disallowance of ₹49,25,241/- under section 14A of the Act read with rule 8D of Income-tax Rules, 1962 ( in short ‘the Rules’) as under: Investment Details As at March 31, As at March 31, 2009 2008 Amount (Rs.) Amount (Rs.) Karnatka Bank Limited

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

17,070/- from various mutual funds. 10.2 The assessee suo-motu made disallowance of ₹49,25,241/- under section 14A of the Act read with rule 8D of Income-tax Rules, 1962 ( in short ‘the Rules’) as under: Investment Details As at March 31, As at March 31, 2009 2008 Amount (Rs.) Amount (Rs.) Karnatka Bank Limited

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

17,070/- from various mutual funds. 10.2 The assessee suo-motu made disallowance of ₹49,25,241/- under section 14A of the Act read with rule 8D of Income-tax Rules, 1962 ( in short ‘the Rules’) as under: Investment Details As at March 31, As at March 31, 2009 2008 Amount (Rs.) Amount (Rs.) Karnatka Bank Limited

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

17. Owing to the non-specificity of the “initial assessment year” which lead to conflicting interpretations, CBDT has clarified as to what constitutes initial assessment year with reference to Section 80IA(5) vide Circular No. 1 of 2016 dated 15.02.2016. Since, the Circular is clarificatory in nature, it is treated as applicable from the year, the statute came into force

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

17. Owing to the non-specificity of the “initial assessment year” which lead to conflicting interpretations, CBDT has clarified as to what constitutes initial assessment year with reference to Section 80IA(5) vide Circular No. 1 of 2016 dated 15.02.2016. Since, the Circular is clarificatory in nature, it is treated as applicable from the year, the statute came into force

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

17. Owing to the non-specificity of the “initial assessment year” which lead to conflicting interpretations, CBDT has clarified as to what constitutes initial assessment year with reference to Section 80IA(5) vide Circular No. 1 of 2016 dated 15.02.2016. Since, the Circular is clarificatory in nature, it is treated as applicable from the year, the statute came into force

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

17. Owing to the non-specificity of the “initial assessment year” which lead to conflicting interpretations, CBDT has clarified as to what constitutes initial assessment year with reference to Section 80IA(5) vide Circular No. 1 of 2016 dated 15.02.2016. Since, the Circular is clarificatory in nature, it is treated as applicable from the year, the statute came into force