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

disallowance of expenses on account of purchase of mobile phones in the draft order?‖ 6) Now we 1st take up the appeal of the assessee and deal with each of the grounds. 7) The first ground of the appeal of the assessee is against the overall assessed income, since no arguments have been advanced before us by the parties

DCIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE ENTERPRISES LTD.,, NEW DELHI

In the result, revenue’s appeal is dismissed and cross-objection

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia:Assessment Year: 2014-15 Deputy Commissioner Of Vs. M/S. Religare Enterprises Income-Tax, Circle-21(1), Ltd., 2Nd Floor, Rajlok New Delhi Building, 24-Nehru Place, New Delhi-110019 Pan :Aaacv5888N (Appellant) (Respondent)

disallowance under section 14A of the Act, held that the said rule, being a substantive one, cannot be regarded as merely clarificatory and the same has been held to be applicable prospectively: • Godrej and Boyce Manufacturing Co. Ltd vs. DOT: 394 ITR 449 (SC); 13 ITA No. 7552 & CO. 27/Del./2018 • Maxopp Investment

ACIT (OSD), CIRCLE- 21(1), NEW DELHI vs. RELIGARE FINVEST LTD., NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

202 B, 2nd floor, C. R. Building, New Delhi PAN No. AAFCS6801H ( APPELLANT ) ( RESPONDENT ) Sh. Rohit Jain, Adv & Ms. Assessee by : Somya Jain, Adv. Department by: Sh. T. Kipgen, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 13.07.2023 ORDER PER YOGESH KUMAR U.S., JM The above ITA No. 4796/Del/2017 (A.Y 2012-13), ITA No. 547/Del/2018

RELIGARE FINVEST LTD.,NEW DELHI vs. DCIT, CIRCLE- 21(1), NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

202 B, 2nd floor, C. R. Building, New Delhi PAN No. AAFCS6801H ( APPELLANT ) ( RESPONDENT ) Sh. Rohit Jain, Adv & Ms. Assessee by : Somya Jain, Adv. Department by: Sh. T. Kipgen, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 13.07.2023 ORDER PER YOGESH KUMAR U.S., JM The above ITA No. 4796/Del/2017 (A.Y 2012-13), ITA No. 547/Del/2018

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

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

202 B, 2nd floor, C. R. Building, New Delhi PAN No. AAFCS6801H ( APPELLANT ) ( RESPONDENT ) Sh. Rohit Jain, Adv & Ms. Assessee by : Somya Jain, Adv. Department by: Sh. T. Kipgen, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 13.07.2023 ORDER PER YOGESH KUMAR U.S., JM The above ITA No. 4796/Del/2017 (A.Y 2012-13), ITA No. 547/Del/2018

RELIGARE FINVEST LTD.,NEW DELHI vs. DCIT, CIRCLE- 21(1), NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

202 B, 2nd floor, C. R. Building, New Delhi PAN No. AAFCS6801H ( APPELLANT ) ( RESPONDENT ) Sh. Rohit Jain, Adv & Ms. Assessee by : Somya Jain, Adv. Department by: Sh. T. Kipgen, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 13.07.2023 ORDER PER YOGESH KUMAR U.S., JM The above ITA No. 4796/Del/2017 (A.Y 2012-13), ITA No. 547/Del/2018

RELIGARE FINVEST LTD.,NEW DELHI vs. DCIT, CIRCLE- 21(1), NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

202 B, 2nd floor, C. R. Building, New Delhi PAN No. AAFCS6801H ( APPELLANT ) ( RESPONDENT ) Sh. Rohit Jain, Adv & Ms. Assessee by : Somya Jain, Adv. Department by: Sh. T. Kipgen, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 13.07.2023 ORDER PER YOGESH KUMAR U.S., JM The above ITA No. 4796/Del/2017 (A.Y 2012-13), ITA No. 547/Del/2018

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

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

202 B, 2nd floor, C. R. Building, New Delhi PAN No. AAFCS6801H ( APPELLANT ) ( RESPONDENT ) Sh. Rohit Jain, Adv & Ms. Assessee by : Somya Jain, Adv. Department by: Sh. T. Kipgen, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 13.07.2023 ORDER PER YOGESH KUMAR U.S., JM The above ITA No. 4796/Del/2017 (A.Y 2012-13), ITA No. 547/Del/2018

DCIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE FINVEST LTD., NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

202 B, 2nd floor, C. R. Building, New Delhi PAN No. AAFCS6801H ( APPELLANT ) ( RESPONDENT ) Sh. Rohit Jain, Adv & Ms. Assessee by : Somya Jain, Adv. Department by: Sh. T. Kipgen, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 13.07.2023 ORDER PER YOGESH KUMAR U.S., JM The above ITA No. 4796/Del/2017 (A.Y 2012-13), ITA No. 547/Del/2018

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

section 37(1) of the Act. 45.8. Without prejudice the assessing officer erred on facts and in law in not holding that depreciation was allowable on the payment of export commission if the same were to constitute capital expenditure. 46. That the Assessing Officer erred on facts and in law in making ad-hoc disallowance of Rs.12

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, the appeal of the Revenue in ITA No

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

disallowance made by the assessee u/s 43B of the Act was denied by the AO. The AO computed the disallowance out of R&D cess amounting to Rs.33.89 crores. Ld. Counsel for the assessee submitted that at the outset, it may be noted that as per the provision of Land Research and Development, cess is imposed on import of technology

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the Revenue in ITA No

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

disallowance made by the assessee u/s 43B of the Act was denied by the AO. The AO computed the disallowance out of R&D cess amounting to Rs.33.89 crores. Ld. Counsel for the assessee submitted that at the outset, it may be noted that as per the provision of Land Research and Development, cess is imposed on import of technology

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

SECTION 45, READ WITH SECTION 28(i), OF THE INCOME-TAX ACT, 1961 - CAPITAL GAINS, CHARGEABLE AS - ISSUE OF TAXABILITY OF SURPLUS ON SALE OF SHARES AND SECURITIES - CAPITAL GAINS OR BUSINESS INCOME - INSTRUCTIONS IN ORDER TO REDUCE LITIGATION CIRCULAR NO.6/2016 [F.NO.225/12/2016-ITA-II], DATED 29-2-2016 1. Sub-section (14) of section 2 of the Income

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

SECTION 45, READ WITH SECTION 28(i), OF THE INCOME-TAX ACT, 1961 - CAPITAL GAINS, CHARGEABLE AS - ISSUE OF TAXABILITY OF SURPLUS ON SALE OF SHARES AND SECURITIES - CAPITAL GAINS OR BUSINESS INCOME - INSTRUCTIONS IN ORDER TO REDUCE LITIGATION CIRCULAR NO.6/2016 [F.NO.225/12/2016-ITA-II], DATED 29-2-2016 1. Sub-section (14) of section 2 of the Income

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the assessee is allowed in part for statistical purposes

Bench: Shri N.K. Saini & Shri K.N. Charry

202 per TPO’s order Disallowance on account of Expenditure on xi. 58,61,136 Excise Duty paid xii. Disallowance on account of Provisional liability 32,11,63,153 Non deduction of tax on royalty for purchase of xiii. NIL software xiv. Depreciation on software capitalized (-) 1,48,228 xv. Depreciation on Royalty and R&D Cess

MUFG BANK LTD,NEW DELHI vs. ACIT (INTERNATIONAL TAXATION) CIRCLE-2(2)(1), NEW DELHI

In the result appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Mufg Bank Ltd, Vs. Acit (International Taxation), 5Th Floor, Worldmark 2, Asset 8, Circle-2(2)(1), Aerocity, Nh-8, New Delhi New Delhi Pan: Aabct3880D (Appellant) (Respondent)

disallowance is called for under that Section. Accordingly, made by the learned assessing officer u/s 14A of the income tax act of ₹ 22,521,366/– is unwarranted. Further, as the assessee is granted relief on the first argument that Section 14 A is not applicable in case of bank when the investments are held as stock in trade, other arguments

M/S MARUTI SUZUKI INDIA LTD.,,NEW DELHI vs. DCIT, NEW DELHI

disallowance.”\n30. Respectfully following the decision of the coordinate Bench (supra), we allow ground\nnos.8 to 8.2.\n\n23\n31. With regard to Ground Nos.9 to 9.4 regarding income from trading in mutual\nfunds/shares treated as business income and not as long term/short term capital gain,\nld. AR of the assessee submitted as under :-\n“The appellant, as a consistent

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 by the assessing officer has been deleted. The Tribunal, while allowing the claim of the assessee under section 80-IC of the Act, held that for the purpose of computing market price of inter-unit transfer of goods, when the non-eligible units procured goods at market price from third party vendors and supplied the same