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)

section 14A of the Act cannot be made in the absence of any exempt income. In coming to the said 19 ITA No. 7552 & CO. 27/Del./2018 conclusion, the Hon’ble Court observed as under [refer pages 56-62 of CLPB II]: “13. We are confused about the stand taken by the appellant-Revenue. Thus, we had asked senior standing

VIKAS GLOBALONE LTD.,NEW DELHI vs. DCIT, CIRCLE- 26(2), NEW DELHI

In the result, appeal of Assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section 14A is not permissible, where no nexus between expenses incurred and income generated. Where no expenditure incurred, no disallowance could be made. Similarly, Hon’ble Punjab and Haryana High Court in the case of CIT vs., Winsome Textile Industries Ltd., 319 ITR 204

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

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

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

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

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

ACIT, NEW DELHI vs. M/S. RESURGERE MINES AND MINERALS INDIA LTD., MUMBAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

disallowance of expenditure claimed by the assessee] iv) CIT vs. Dhamchand 1. Shah,(1993) 204 ITR 462, 468-69(Bombay) [penalty cannot be sustained merely on the grounds that certain additions ITA No.- 1531/Del/2017. M/s Resurgere Mines and Minerals India Ltd. were made and the same were accepted by the assessee without invoking the Explanation to Section

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. 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

SHRI SURESH VERMA,DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee is allowed

204 to hold that Section 14A cannot be invoked when no exempt income was earned. The second decision is of the Gujarat High Court in Commissioner of Income Tax-I Vs. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj.). The third decision is of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of 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

disallowed under section 14A of the Act, where the assessee had sufficient surplus funds and there was no finding by the assessing officer of any direct nexus of borrowed funds with investments: ITA No.-6021/Del/2012 6.11. Lastly it is contended on behalf of the assessee that the disallowance computed under section 14A of the Act is incorrect since while

M/S. PEARL POLYMERS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is allowed partly for statistical purpose

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2009-10 Vs. Deputy M/S. Pearl Polymers Ltd., 204, Commissioner Of Rohit House, 3, Tolstoy Marg, Income Tax, Circle-14(1), New New Delhi Delhi Pan : Aaacp0182F (Appellant) (Respondent) Appellant By Sh. R.K. Kapoor, Ca Respondent By Sh. F.R. Meena, Sr.Dr Date Of Hearing 24.08.2016 Date Of Pronouncement 18.11.2016 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against Order Dated 23/09/2013 Passed By The Learned Commissioner Of Income Tax (Appeals)-Xvii, Laxmi Nagar, Delhi For Assessment Year 2009-10 Raising Following Grounds: “1.0 That The Learned Cit(A) Has Grossly Erred In Law & On Facts & In The Circumstances Of The Appellant’S Case In Confirming The Disallowance Of Rs.4.45.076/- U/S.40A(3Ijof The Income-Tax Act, On Wholly Untenable Grounds. 1.1 That The Learned Cit(A) Has Failed To Appreciate The Circumstances Under Which The Cash Payment Exceeding The Prescribed Limit U/S.40A(3) Had To Be Made By The Assessee, Although The Payees Were Fully Identified & Even Tds Has Been Made. 1.2 That The Disallowance Made U/S.40A(3) Is Bad In Law.

204, Commissioner of Rohit House, 3, Tolstoy Marg, Income Tax, Circle-14(1), New New Delhi Delhi PAN : AAACP0182F (Appellant) (Respondent) Appellant by Sh. R.K. Kapoor, CA Respondent by Sh. F.R. Meena, Sr.DR Date of hearing 24.08.2016 Date of pronouncement 18.11.2016 ORDER PER O.P. KANT, A.M.: This appeal by the assessee is directed against order dated 23/09/2013 passed

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

Section 144C of The Income Tax Act, 1961 (The Act) by The Asst Commissioner Of Income Tax, Central Circle – 29, New Delhi (the Learned AO) for assessment year 2012 – 13 wherein the returned income of the assessee filed on 28/11/2012 of ₹ 375,363,411/- was assessed at Rs. 1,204,023,319/– and the book profit computed u/s 115JB