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 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 215

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 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 215

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 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 215

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

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

disallowance under section 14A. 43. With respect to the interest expenditure, it was submitted that the appellant is a cash rich company, which does not borrow funds for making investment. The marginal interest expenditure of Rs. 2.15 crores was incurred on other temporary loans/dealers deposit, having nexus with main business function. Further, no direct nexus of interest expenditure with investments

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

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

disallowance of interest was called for under section 14A of the Act. Further he submitted that the above order passed by the High Court for AY 1999-00 has now been confirmed by the Hon’ble Supreme Court vide order dated 27.03.2025.Further, Department’s appeal on the aforesaid issue has not been admitted by the Delhi High Court for assessment

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

disallowance of interest was called for under section 14A of the Act. Further he submitted that the above order passed by the High Court for AY 1999-00 has now been confirmed by the Hon’ble Supreme Court vide order dated 27.03.2025.Further, Department’s appeal on the aforesaid issue has not been admitted by the Delhi High Court for assessment

SUDHAKAR ARORA,DELHI vs. ADIT, CPC, BENGALURU

In the result, the appeal of the assessee is dismissed

Bench: Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh[Assessment Year: 2018-19]

disallowance in terms of section 143(1) of the Act. 18. Regarding the alternate argument of the Counsel for the assessee that the claim of the assessee is allowable under Section 37 of the Act, we would like to refer to the decision of Hon’ble Jodhpur ITAT, in the case of Tarun Construction Company vs. ITO 157 taxmann.com

DCIT, NEW DELHI vs. M/S. GUJARAT GUARDIAN LTD., NEW DELHI

In the result, appeal filed by the revenue against the direction of the Ld

Bench: Shri S.K.Yadav & Shri Prashant Maharishim/S. Guajarat Guardian Ltd, Vs. Dcit, 4-7/C, Dda Shopping Centre, Circle-12(1), (Now Circle- New Friends Colony, 10(2), New Delhi Cr Building, Ip Estate, Pan: Aaacg1622K New Delhi (Appellant) (Respondent) Dcit, Vs. M/S. Guajarat Guardian Ltd, Circle-12(1), (Now Circle-10(2), 4-7/C, Dda Shopping Cr Building, Ip Estate, Centre, New Delhi New Friends Colony, New Delhi Pan: Aaacg1622K (Appellant) (Respondent)

section 80 IA of Rs. 1 8351 0398 been disallowed. The assessee submitted that that it is maintaining separate books of accounts for both the units, which are duly audited by a chartered accountant in form No. 10 CCB. In addition, it is further stated that deduction is allowable to the assessee. The Ld. assessing officer was of the view

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

215 Taxman 8 (Mag.) held that where there are ITA No.-6021/Del/2012 sufficient interest free funds to meet tax free investments, they are presumed to be made from interest free funds and not loaned funds and no disallowance can be made under section

THOMSON PRESS (INDIA) LTD.,NEW DELHI vs. ADDL. CIT, SPL. RANGE- 9, NEW DELHI

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

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandraassessment Year: 2013-14

disallowance of a sum of Rs. 1,03,215/- under section 14A of the Act which disallowance is unjustified and untenable

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)

section 14A ofthe Act as the provisions of DTAA do not permit disallowance of expenses based on provisions inserted in domestic law after the signing of the convention. Therefore, the provisions of the DTAA being more beneficial to the assessee, shall prevail over the domestic law. In this regard, reliance is placed on the Judgment of Bombay High Court

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

disallowance of interest\nwas called for under section 14A of the Act. Further he submitted that the above\norder passed by the High Court for AY 1999-00 has now been confirmed by the\nHon’ble Supreme Court vide order dated 27.03.2025.Further, Department’s appeal on\nthe aforesaid issue has not been admitted by the Delhi High Court for assessment

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

SURENDER KUMAR,HARYANA vs. ADIT,CPC, BANGALORE

Bench: Sh. Saktijit Deydr. B. R. R. Kumar(Through Video Conferencing) Ita No. 1045/Del/2021 : Asstt. Year : 2018-19 Surender Kumar, Vs Adit, M Sahu & Associates, Ca, House No. Cpc, 651, 1St Floor, Sector-10A, Near Union Bangalore Bank Of India, Gurgaon, Haryana-122001 (Appellant) (Respondent) Pan No. Agupk6911C Assessee By : Sh. M. R. Sahu, Ca Revenue By : Sh. Umesh Takyar, Sr. Dr Date Of Hearing: 10.03.2022 Date Of Pronouncement: 15.03.2022

disallow deductions claimed merely by making a book entry based on the mercantile system of accounting. At the same time, Section 43B made it mandatory for the Department to grant deduction in computing income under Section 28 in the year in which tax, duty, cess etc. is actually paid. Parliament took cognizance of the fact that accounting year

HANS RUBBER & SPORTS PRIVATE LIMITED,MEERUT vs. DCIT, CIRCLE-1, MEERUT

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Shri Saktijit Deyassessment Year: 2019-20

disallow deductions claimed merely by making a book entry based on the mercantile system of accounting. At the same time, Section 43B made it mandatory for the Department to grant deduction in computing income under Section 28 in the year in which tax, duty, cess etc. is actually paid. Parliament took cognizance of the fact that accounting year

FARIDABAD SERVICE STATION,HARYANA vs. ITO, WARD-30(4), DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Shri Saktijit Deyassessment Year: 2019-20

disallow deductions claimed merely by making a book entry based on the mercantile system of accounting. At the same time, Section 43B made it mandatory for the Department to grant deduction in computing income under Section 28 in the year in which tax, duty, cess etc. is actually paid. Parliament took cognizance of the fact that accounting year