RAKESH KUMAR GUPTA,DELHI vs. LD. ITO, WARD 35(1), DELHI, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2021-22] Rakesh Kumar Gupta, Income Tax Officer, Ward-35(1), B-2/38, Ground Floor, E-2, Civic Centre, Delhi-110002 Ashok Vihar, Phase-Ii, Vs Delhi-110052 Pan-Aafhr8657H Appellant Respondent

4) shall be deemed to be amount of income under-reported for the preceding year in the following order— (a) the preceding year immediately before the year in which the receipt, deposit or investment appears, being the first preceding year; and (b) where the amount added or deducted in the first preceding year is not sufficient to cover the receipt

AISHANI CONSULTANTS PVT LTD.,NEW DELHI vs. ITO WARD 2(1), NEW DELHI

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

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

249(4)(b) of the Income-tax Act, 1961 [the Act, for short] despite the fact that the provisions of this section are not applicable in the case of the assessee. 3. Representatives of both the sides were heard at length. Case records carefully perused. Relevant documentary evidence brought on record duly considered in light of Rule

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

XL INDIA BUSINESS SERVICES PVT. LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

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

Bench: Shri Bhavnesh Saini & Shri O.P. Kantassessment Year: 2011-12 M/S. Xl India Business Vs. Addl. Cit, Services Pvt. Ltd., Special Range-9, New Delhi Ff-101, Building No. G-11, Sarines Sonia Sadan, Community Centre, Vikas Puri, New Delhi Pan :Aaacx0309A (Appellant) (Respondent) & S.A. No.16/Del/2019 [Arising Out Of Ita No.2145/Del/2017] Assessment Year: 2011-12 M/S. Xl India Business Vs. Addl. Cit, Services Pvt. Ltd., Special Range-9, New Delhi Ff-101, Building No. G-11, Sarines Sonia Sadan, Community Centre, Vikas Puri, New Delhi Pan :Aaacx0309A (Appellant) (Respondent)

disallowances made in the assessment order issued by the Ld. AO, is erroneous and bad in law. Part I - Corporate Tax Grounds 4. That, in view of the facts and circumstances of the case, the Ld. CIT(A)/AO erred in facts and in law, in upholding the taxation of interest income on short term fixed deposits amounting

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)

disallowed the same treating the same as capital expenditure. The Ld. DRP also held that entire amount of Rs. 5 853 5098 to be capital in nature and observed that the appellant had claimed depreciation at the rate of 15% amounting to Rs. 81,94,914/– on the said expenditure. The Ld. DRP did not noticed that assessee had bifurcated

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

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

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

B. The average of value of investment, income from which does not or shall not form part of the total income appearing in the balance sheet of the assessee on the first day and the last day of the previous year Rs.20,00,44,93,634 + Rs.30,19,67,88,502 = Rs.50,20,12,82,136/- Average of the above

BSES RAJDHANI POWER LTD.,,NEW DELHI vs. PR.CIT, NEW DELHI

In the result, impugned order dated 31

Bench: Shri C.M. Garg & Shri Anadi N Mishra

B) Assessment order was passed by the Assessing Officer u/s 143(3) of Income Tax Act on 29.10.2013. The assessee filed appeal before Ld. CIT(A) which was disposed off vide order dated 3.5.2014 of the Ld. CIT(A). Ld. Pr. CIT issued a show cause notice dated 16.3.2016 relevant portion of the show cause notice is reproduced as under

DCIT, CIRCLE-20(1), NEW DELHI vs. PRIAPUS DEVELOPERS PRIVATE LIMITED, NEW DELHI

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

B, Worldmark-1, Circle-20(1), New Delhi. Aerocity, New Delhi. TAN/PAN: AAFCP2747R (Appellant) (Respondent) Assessee by: Shri Rajeev Khandelwal, CA Shri Karan Kumra, CA Department by: Shri B.S. Anand, Sr.DR Date of hearing: 21 11 2022 Date of pronouncement: 27 12 2022 O R D E R PER PRADIP KUMAR KEDIA, A.M.: The captioned appeal has been filed

IMSI INDIA PVT. LTD.,NEW DELHI vs. DCIT, DEHRADUN

In the result, the appeals of the assessee are allowed

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 5856/Del/2011 : Asstt. Year : 2007-08 Ita No. 4277/Del/2012 : Asstt. Year : 2008-09 Ita No. 5744/Del/2012 : Asstt. Year : 2009-10 Ita No. 2506/Del/2013 : Asstt. Year : 2010-11 Imsi India Pvt. Ltd., Vs Deputy/Assistant Commissioner C/O Luthra & Luthra Law Offices, Of Income Tax, Circle-2, 103, Ashoka Estate, Barakhamba Dehradun, Uttranchal Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aabci1797A Assessee By : Sh. Ashwani Kumar, Sh. Sudhindra Jain & Sh. Alok Kumar Jain, Cas Revenue By : Sh. Amrit Lal, Sr. Dr Date Of Hearing : 15.09.2017 Date Of Pronouncement : 27.10.2017 Order Per N. K. Saini, Am: This Appeal By The Assessee For The Assessment Year 2007- 08 Is Directed Against The Order Dated 03.10.2011 Of Ld. Cit(A)-Ii, Dehradun & The Other Appeals Of The Assessee Are Directed Against The Separate Orders Dated 09.02.2012, 20.12.2011 & 30.11.2012 Passed By The Ld. Cit(A)-I, Dehradun For The Assessment Years 2008-09, 2009-10 & 2010-11 Respectively. 2. Since The Issue Involved Is Common In All These Appeals Which Were Heard Together So These Are Being Disposed Off By This Consolidated Order For The Sake Of Convenience & Brevity.

disallowance of the claim u/s 80IC of the Income Tax Act, 1961 (hereinafter referred to as the Act) made by the AO. 5. The facts related to this issue in brief are that the assessee was mainly engaged in development, repair & maintenance of software and providing consultancy services in the field of software development, maintenance, desktop support, both

IMSI INDIA PVT. LTD.,NEW DELHI vs. ACIT, DEHRADUN

In the result, the appeals of the assessee are allowed

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 5856/Del/2011 : Asstt. Year : 2007-08 Ita No. 4277/Del/2012 : Asstt. Year : 2008-09 Ita No. 5744/Del/2012 : Asstt. Year : 2009-10 Ita No. 2506/Del/2013 : Asstt. Year : 2010-11 Imsi India Pvt. Ltd., Vs Deputy/Assistant Commissioner C/O Luthra & Luthra Law Offices, Of Income Tax, Circle-2, 103, Ashoka Estate, Barakhamba Dehradun, Uttranchal Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aabci1797A Assessee By : Sh. Ashwani Kumar, Sh. Sudhindra Jain & Sh. Alok Kumar Jain, Cas Revenue By : Sh. Amrit Lal, Sr. Dr Date Of Hearing : 15.09.2017 Date Of Pronouncement : 27.10.2017 Order Per N. K. Saini, Am: This Appeal By The Assessee For The Assessment Year 2007- 08 Is Directed Against The Order Dated 03.10.2011 Of Ld. Cit(A)-Ii, Dehradun & The Other Appeals Of The Assessee Are Directed Against The Separate Orders Dated 09.02.2012, 20.12.2011 & 30.11.2012 Passed By The Ld. Cit(A)-I, Dehradun For The Assessment Years 2008-09, 2009-10 & 2010-11 Respectively. 2. Since The Issue Involved Is Common In All These Appeals Which Were Heard Together So These Are Being Disposed Off By This Consolidated Order For The Sake Of Convenience & Brevity.

disallowance of the claim u/s 80IC of the Income Tax Act, 1961 (hereinafter referred to as the Act) made by the AO. 5. The facts related to this issue in brief are that the assessee was mainly engaged in development, repair & maintenance of software and providing consultancy services in the field of software development, maintenance, desktop support, both

ITO, NEW DELHI vs. M/S. DELHI PRESS SAMACHAR PATRA PVT. LTD., NEW DELHI

In the result ground No. 1 of the appeal of the Revenue is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

249 ((Chd). Further a disallowance under section 40 (A) (2) (b) on adhoc basis, as percentage 10 | P a g e ITO, Ward 10 (1) , New Delhi Vs Delhi Pres samachar Patra Private Limited ITA NO 1433 , 1061/ Del/2013 & 5001 & 6515/ Del/2014 A.Y. 2008-09 to 2011-12 of total expenditure is incurred inherently bad in law because such disallowance

M/S. TRINITY GLOBAL ENTERPRISES LTD.,JAIPUR vs. ITO, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

4 Trinity Global Enterprises Ltd. of share application received of Rs.90,00,000/- u/s 68 of the Income Tax Act, 1961. 5. Aggrieved, the assessee filed appeal before the ld. CIT(A) who affirmed the order of the Assessing Officer. 6. Excerpts taken from the ld. CIT(A):  The assessee failed to furnish confirmation of the share applicants.  Replies received

PUNJAB NATIONAL BANK,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, assessee’s appeals, namely, ITA Nos

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

4. During the financial year 2006-07, assessee earned exempt income amounting to Rs.58,39,06,899/- from dividend and tax-free income on account of other securities, but the assessee has not disallowed any expense under section 14 A of the Income Tax Act, 1961 (hereinafter, for short “the Act”). Learned Assessing Officer observed that the assessee, having, infrastructure

PUNJAB NATIONAL BANK,NEW DELHI vs. ACIT, NEW DELHI

In the result, assessee’s appeals, namely, ITA Nos

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

4. During the financial year 2006-07, assessee earned exempt income amounting to Rs.58,39,06,899/- from dividend and tax-free income on account of other securities, but the assessee has not disallowed any expense under section 14 A of the Income Tax Act, 1961 (hereinafter, for short “the Act”). Learned Assessing Officer observed that the assessee, having, infrastructure

ACIT, NEW DELHI vs. M/S. PUNJAB NATIONAL BANK, NEW DELHI

In the result, assessee’s appeals, namely, ITA Nos

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

4. During the financial year 2006-07, assessee earned exempt income amounting to Rs.58,39,06,899/- from dividend and tax-free income on account of other securities, but the assessee has not disallowed any expense under section 14 A of the Income Tax Act, 1961 (hereinafter, for short “the Act”). Learned Assessing Officer observed that the assessee, having, infrastructure

DCIT, NEW DELHI vs. M/S. PUNJAB NATIONAL BANK, NEW DELHI

In the result, assessee’s appeals, namely, ITA Nos

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

4. During the financial year 2006-07, assessee earned exempt income amounting to Rs.58,39,06,899/- from dividend and tax-free income on account of other securities, but the assessee has not disallowed any expense under section 14 A of the Income Tax Act, 1961 (hereinafter, for short “the Act”). Learned Assessing Officer observed that the assessee, having, infrastructure

PUNJAB NATIONAL BANK,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, assessee’s appeals, namely, ITA Nos

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

4. During the financial year 2006-07, assessee earned exempt income amounting to Rs.58,39,06,899/- from dividend and tax-free income on account of other securities, but the assessee has not disallowed any expense under section 14 A of the Income Tax Act, 1961 (hereinafter, for short “the Act”). Learned Assessing Officer observed that the assessee, having, infrastructure