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

2) A person shall be considered to have under-reported his income, if— (a) the income assessed is greater than the income determined in the return processed under clause (a) of sub-section (1) of section 143; (b) the income assessed is greater than the maximum amount not chargeable to tax, where no return of income has been furnished

BRIJ GOPAL CONSTRUCTION COMPANY (P) LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE-3, DELHI

In the result, assessee’s appeal is allowed

Bench: Shri M Balaganesh & Ms. Madhumita Royassessment Year: 2017-18

2. As can be seen, the issue pertains to penalty under Section 271 [1](c) of the Income-tax Act, 1961 which the Tribunal had deleted. The quantum additions pertain to disallowance of interest expenditure under Section 14A of the Act read with Rule 8D of the Income-tax Rules, 1962 3. We do not find any evidence of assessee

JAINA MARKETING & ASSOCIATES,DELHI vs. DCIT, CENTRAL CIRCLE-18, DELHI

Accordingly, Appeals filed by the assessee are allowed

Bench: Shri M. Balaganesh & Shri Yogesh Kumar U.S.

disallowances under section 14A of the Act. This by no stretch of imagination can be held to be 'misreporting'. 8. This Court also finds that there is not even a whisper as to which limb of section 270A of the Act is attracted and how the ingredient of sub- section (9) of section 270A is satisfied. In the absence

JAINA MARKETING & ASSOCIATES,DELHI vs. DCIT, CENTRAL CIRCLE-18, DELHI

Accordingly, Appeals filed by the assessee are allowed

Bench: Shri M. Balaganesh & Shri Yogesh Kumar U.S.

disallowances under section 14A of the Act. This by no stretch of imagination can be held to be 'misreporting'. 8. This Court also finds that there is not even a whisper as to which limb of section 270A of the Act is attracted and how the ingredient of sub- section (9) of section 270A is satisfied. In the absence

JAINA MARKETING & ASSOCIATES,DELHI vs. DCIT, CENTRAL CIRCLE-18, DELHI

Accordingly, Appeals filed by the assessee are allowed

Bench: Shri M. Balaganesh & Shri Yogesh Kumar U.S.

disallowances under section 14A of the Act. This by no stretch of imagination can be held to be 'misreporting'. 8. This Court also finds that there is not even a whisper as to which limb of section 270A of the Act is attracted and how the ingredient of sub- section (9) of section 270A is satisfied. In the absence

PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2 vs. JAINA MARKETING AND ASSOCIATES

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

disallowances under section 14A of the Act. This by no stretch of imagination can be held to be 'misreporting'. 8. This Court also finds that there is not even a whisper as to which limb of section 270A of the Act is attracted and how the ingredient of sub- section (9) of section 270A is satisfied. In the absence

PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2 vs. JAINA MARKETING AND ASSOCIATES

disallowances under section 14A of the Act. This by no stretch of imagination can be held to be 'misreporting'. 8. This Court also finds that there is not even a whisper as to which limb of section 270A of the Act is attracted and how the ingredient of sub- section (9) of section 270A is satisfied. In the absence

PR. COMMISSIONER OF INCOME TAX -7 vs. SUMITOMO CORPORATION INDIA (P) LTD.

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

2) of the Act.  Assessing Officer (AO) passed draft assessment order (DAO) dated 27.02.2015 under section 143(3) read with section 144C, making addition of Rs.7,34,36,867, which included transfer pricing adjustment of Rs.5,52,01,139 and disallowance of deduction under section 10B of the Act of Rs.1,82,35,728.  Objections were filed by the Petitioner

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MICROSOFT INDIA ( R & D) PVT. LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

2) of the Act.  Assessing Officer (AO) passed draft assessment order (DAO) dated 27.02.2015 under section 143(3) read with section 144C, making addition of Rs.7,34,36,867, which included transfer pricing adjustment of Rs.5,52,01,139 and disallowance of deduction under section 10B of the Act of Rs.1,82,35,728.  Objections were filed by the Petitioner

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MARUTI SUZUKI INDIA LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

2) of the Act.  Assessing Officer (AO) passed draft assessment order (DAO) dated 27.02.2015 under section 143(3) read with section 144C, making addition of Rs.7,34,36,867, which included transfer pricing adjustment of Rs.5,52,01,139 and disallowance of deduction under section 10B of the Act of Rs.1,82,35,728.  Objections were filed by the Petitioner

JAYPEE CEMENT CORPORATION LIMITED,NOIDA vs. ACIT CIRCLE 5(1)(1), NOIDA

In the result, the appeal of the assessee is allowed and stay application of the assessee is dismissed

Bench: Shri Saktijit Dey & Shri M. Balaganeshm/S. Jaypee Cement Vs. Acit, Corporation Ltd, Circle-5(1)(1), Sector-128, Gautam Noida Budh Nagar, Noida (Appellant) (Respondent) Pan: Aaacz2168D

2) of the Act as the ultimate assessment had the effect of reducing the loss retuned by the assessee. It was further pointed out that under reporting of income has got certain exceptions as provided in section 270A(6) of the Act as under:- M/s. Jaypee Cement Corporation Ltd (6) The under-reported income, for the purposes of this section

AJAY PAL SINGH,NOIDA GAUTOM BUDDH NAGAR vs. ITO WARD 1(1) NOIDA GBN, NOIDA

In the result, the appeal filed by the assessee is allowed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaajay Pal Singh, Vs. Ito, Ward 1 (1), Village Gadi, Near Dadri Noida. Gautam Budh Nagar - 201 301 Uttar Pradesh). (Pan : Axgps6679A) (Appellant) (Respondent) Assessee By : Shri Vijay Kumar Singla, Ca Revenue By : Shri Ajay Kumar Arora, Sr. Dr Date Of Hearing : 02.09.2025 Date Of Order : 26.11.2025 O R D E R Per S. Rifaur Rahman: 1. The Assessee Has Filed Appeal Against The Order Of The Learned Commissioner Of Income Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi [“Ld. Cit(A)”, For Short] Dated 12.02.2025 For The Assessment Year 2020-21. 2. Brief Facts Of The Case Are, Assessee Had Originally Filed His Return Of Income Declaring Total Income Of Rs.43,88,320/-. Subsequently, Assessee Filed Revised Return On 30.03.2021 Declaring Revised Total Income Of Rs.31,26,700/-. The Return Of Income Was Processed Under Section 143(1) Of The Income-Tax Act, 1961 (For Short ‘The Act’). Subsequently, The Case

2) of section 249, grant immunity from imposition of penally under section 270A and initiation of proceedings under section 276C or section 276CC, where the proceedings for penalty under section 270A has not been initiated under the circumstances referred to in sub-section (9) of the said section 270A (4) The Assessing Officer shall, within a period of one month

ACIT CIRCLE-16(1), DELHI vs. MAHASHIAN DI HATTI PRIVATE LIMITED , DELHI

Appeal of the Revenue is dismissed

Bench: Shri Kul Bharat & Shri Brajesh Kumar Singhasstt. Yr: 2017-18

2)(x), case of assessee did not fall in category of under reporting of income and moreover since in penalty notice under section 270A revenue had failed to specify limb "under-reporting" or "misreporting" of income, under which penalty proceedings had been initiated, entire proceeding was not only erroneous but also arbitrary and bereft of any reason

TSI YATRA PVT. LTD.,GURGAON vs. ADDL. CIT, RANGE-25, NEW DELHI

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

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

disallowance of face vaule amounting to Rs.10591530/- is concerned, it is noted that the provision of S. 56(2)(viib) clearly stipulates that consideration received over and above, the FMV is deemed to be income as there is no exception for face value is mentioned therein. In the case of appellant FMV being computed

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

disallowance of Rs.54,031 is again made while computing total income in impugned order. Re: Others 6. That the assessing officer erred on facts and in law in charging/ computing interest under sections 234c and 234d of the Act. 7. That the assessing officer erred on facts and in law in initiating penalty under sections 27IAAC and 270A

ASHOK KUMAR GUPTA,NEW DELHI vs. DCIT, CENTRAL CIRCLE-14, NEW DELHI

In the result grounds of appeal raised by assessee is allowed

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar[Assessment Year : 2017-18] Ashok Kumar Gupta, Vs Dcit, C/O-Anil Jain Dd & Co., 611, Surya Central Circle-14, Kiran Building, 19 K.G.Marg, New Delhi. New Delhi-110001. Pan-Aaapg2240G Appellant Respondent Appellant By Shri Shivam Garg, Adv. & Shri Rahul Aggarwal, Ca Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 22.04.2024 Date Of Pronouncement 26.04.2024

2) A person shall be considered to have under-reported his income, if— (a) the income assessed is greater than the income determined in the return processed under clause (a) of sub-section (1) of section 143; (b) the income assessed is greater than the maximum amount not chargeable to tax, where no return of income has been furnished

MANKIND PHARMA LIMITED,DELHI vs. DCIT, CIRCLE-1(1)(1), MEERUT

In the result, the additional Ground No

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

270A of the Act.” 3. The assessee has also moved an application under Rule 11 of the Income Tax (Appellate Tribunal) Rules, 1963 dated 08.02.2024 seeking admission of additional ground which read as under: “"Re: Disallowance of Deduction under section 35(2AB) amounting to Rs 12,01,42,780 5. That the assessing officer erred on facts

UJALA CREDIT CO-OPERATIVE SOCIETY LIMITED,NETAJI SUBHASH PLACE vs. ACIT CIRCLE 40(1), DELHI

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

Bench: Shri M. Balaganesh & Shri Vimal Kumar

2. Though the assessee has raised several grounds of appeal, the only effective issue to be decided in this appeal is as to whether the ld. NFAC was justified in confirming the levy of penalty u/s 271(1)(c ) of the Act in the facts and circumstances of the instant case. ITA Nos. 1849 & 1850/Del/2024 Ujala Credit Co-operative Society

UJALA CREDIT CO-OPERATIVE SOCIETY LIMITED,NSP PITAMPURA DELHI vs. DCIT CIRCLE 43(1), DELHI

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

Bench: Shri M. Balaganesh & Shri Vimal Kumar

2. Though the assessee has raised several grounds of appeal, the only effective issue to be decided in this appeal is as to whether the ld. NFAC was justified in confirming the levy of penalty u/s 271(1)(c ) of the Act in the facts and circumstances of the instant case. ITA Nos. 1849 & 1850/Del/2024 Ujala Credit Co-operative Society