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

disallowance could be made under the said section where no expenditure has 'actually' been incurred by the assessee in relation to earning of the exempt income. The relevant findings are reproduced as under: “26

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

disallowance could be made under the said section where no expenditure has 'actually' been incurred by the assessee in relation to earning of the exempt income. The relevant findings are reproduced as under: “26

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

disallowance under section 14A of the Act: Attention, in this regard, is invited to the decision of the jurisdictional Delhi High Court in the case of ACB India Ltd. v. ACIT: 374 ITR 108. In that case, the assessee, during the relevant previous year, earned exempt income of Rs. 18,26

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 ₹ 2,77,57,100/-under section 14A of the Act read with rule 8D as under: Particulars Amount(Rs.) i) Amount of expenditure directly relating to 578,392 income which does not form part of income ii) Interest cost not directly attributable to 22,253,467 any income or receipt iii) 0.5% of the average value of investments

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 ₹ 2,77,57,100/-under section 14A of the Act read with rule 8D as under: Particulars Amount(Rs.) i) Amount of expenditure directly relating to 578,392 income which does not form part of income ii) Interest cost not directly attributable to 22,253,467 any income or receipt iii) 0.5% of the average value of investments

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

disallowance of ₹ 2,77,57,100/-under section 14A of the Act read with rule 8D as under: Particulars Amount(Rs.) i) Amount of expenditure directly relating to 578,392 income which does not form part of income ii) Interest cost not directly attributable to 22,253,467 any income or receipt iii) 0.5% of the average value of investments

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 ₹ 2,77,57,100/-under section 14A of the Act read with rule 8D as under: Particulars Amount(Rs.) i) Amount of expenditure directly relating to 578,392 income which does not form part of income ii) Interest cost not directly attributable to 22,253,467 any income or receipt iii) 0.5% of the average value of investments

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

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

disallowance of the excessive purchase consideration paid to the related parties. 26. The fact shows that In the course of business of manufacturing two- wheelers, the appellant, inter alia, procures certain critical components like shock absorbers, carburetors, etc., which are fitted in the two-wheelers manufactured by the appellant, from a single vendor, having the requisite technology to manufacture

INTERNATIONAL HOSPITAL LIMITED vs. DCIT CIRCLE 12 (2)

Bench: HON'BLE MR. JUSTICE RAVINDER DUDEJA,HON'BLE MR. JUSTICE YASHWANT VARMA

26 of 52 31. There is no conflict between the decisions of this Court in Spice Enfotainment [CIT v. Spice Enfotainment Ltd., (2020) 18 SCC 353] (dated 2-11-2017) and in Skylight Hospitality LLP v. CIT [Skylight Hospitality LLP v. CIT, (2018) 13 SCC 147] (dated 6-4-2018).” 18. Arguments flowing on lines similar to those which were

PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, CIRCLE- 19(2), NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment (P) Ltd. 372 ITR 694 the Ld. CIT(A) restricted the disallowance to Rs. 45,49,293/- i.e. to the extent of exempt income earned by the assessee during the year. The assessee

M/S. PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment (P) Ltd. 372 ITR 694 the Ld. CIT(A) restricted the disallowance to Rs. 45,49,293/- i.e. to the extent of exempt income earned by the assessee during the year. The assessee

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. PTC INDIA FINANCIAL SERVICES LTD, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment (P) Ltd. 372 ITR 694 the Ld. CIT(A) restricted the disallowance to Rs. 45,49,293/- i.e. to the extent of exempt income earned by the assessee during the year. The assessee

ACIT, NEW DELHI vs. M/S. PTC INDIA FINANCIAL SERVICES LTD., NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

section 14A and added it to the total income of the assessee. 25. On appeal, following the decision of Hon’ble Delhi High Court in Joint Investment (P) Ltd. 372 ITR 694 the Ld. CIT(A) restricted the disallowance to Rs. 45,49,293/- i.e. to the extent of exempt income earned by the assessee during the year. The assessee

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

26. That the assessing officer erred on facts and in law in disallowing deduction of Rs, 8,07,76,420/- claimed under 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 22 of 484 section

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)

26. The fundamental principles governing the applicability of section 14A of the Act may, thus, be culled out from the aforesaid decisions as under: a. The expression “income” in section 14A refers to “real income” earned during the relevant assessment year and mot to any notional/ speculative/ futuristic amount; b. The expression “does not form part of total income” refers

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.

section. 13. Having considered the material placed on record, Ld. CIT(A) reached a conclusion on facts that the assessee had already disallowed in the computation of income the provision for NPA of Rs. 26

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.

section. 13. Having considered the material placed on record, Ld. CIT(A) reached a conclusion on facts that the assessee had already disallowed in the computation of income the provision for NPA of Rs. 26

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.

section. 13. Having considered the material placed on record, Ld. CIT(A) reached a conclusion on facts that the assessee had already disallowed in the computation of income the provision for NPA of Rs. 26