HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. DCIT, NEW DELHI

Appeals of the assessee stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

disallowed in computing the total income of such person as a result thereof shall, for the purposes of clause (c) of this sub-Section be deemed to represent the income in respect of which particulars have been concealed." Housing and Urban Development Corporation Ltd. vs. DCIT Section 274

M/S. HOUSING AND URBAN DEVELOPMENT CORPORATION LTD.(HUDCO),NEW DELHI vs. DCIT, NEW DELHI

Appeals of the assessee stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

disallowed in computing the total income of such person as a result thereof shall, for the purposes of clause (c) of this sub-Section be deemed to represent the income in respect of which particulars have been concealed." Housing and Urban Development Corporation Ltd. vs. DCIT Section 274

SMT. MANJEET KAUR SRAN,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the 05 appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri R.K. Panda

274. Penalty orders passed by ITO for assessment years 1968-69 to 1969-70 were perfectly valid and there was no justification for quashing same on ground of absence of jurisdiction. 4. New Holland Tractors (India) (P.) Ltd. Vs CIT [2014] 49 taxmann.com 573 (Delhi)/[2015] 228 Taxman 66 (Delhi)/[2015] 275 CTR 291 (Delhi) where Hon’ble Delhi High

SMT. MANJEET KAUR SRAN,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the 05 appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri R.K. Panda

274. Penalty orders passed by ITO for assessment years 1968-69 to 1969-70 were perfectly valid and there was no justification for quashing same on ground of absence of jurisdiction. 4. New Holland Tractors (India) (P.) Ltd. Vs CIT [2014] 49 taxmann.com 573 (Delhi)/[2015] 228 Taxman 66 (Delhi)/[2015] 275 CTR 291 (Delhi) where Hon’ble Delhi High

SMT. MANJEET KAUR SRAN,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the 05 appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri R.K. Panda

274. Penalty orders passed by ITO for assessment years 1968-69 to 1969-70 were perfectly valid and there was no justification for quashing same on ground of absence of jurisdiction. 4. New Holland Tractors (India) (P.) Ltd. Vs CIT [2014] 49 taxmann.com 573 (Delhi)/[2015] 228 Taxman 66 (Delhi)/[2015] 275 CTR 291 (Delhi) where Hon’ble Delhi High

SMT. MANJEET KAUR SRAN,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the 05 appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri R.K. Panda

274. Penalty orders passed by ITO for assessment years 1968-69 to 1969-70 were perfectly valid and there was no justification for quashing same on ground of absence of jurisdiction. 4. New Holland Tractors (India) (P.) Ltd. Vs CIT [2014] 49 taxmann.com 573 (Delhi)/[2015] 228 Taxman 66 (Delhi)/[2015] 275 CTR 291 (Delhi) where Hon’ble Delhi High

SMT. MANJEET KAUR SRAN,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the 05 appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri R.K. Panda

274. Penalty orders passed by ITO for assessment years 1968-69 to 1969-70 were perfectly valid and there was no justification for quashing same on ground of absence of jurisdiction. 4. New Holland Tractors (India) (P.) Ltd. Vs CIT [2014] 49 taxmann.com 573 (Delhi)/[2015] 228 Taxman 66 (Delhi)/[2015] 275 CTR 291 (Delhi) where Hon’ble Delhi High

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

section 14A. Interest Expenditure [Disallowance under Rule 8D(ii)l The assessee is a cash rich company, which does not borrow funds for making investment. The marginal interest expenditure of Rs. 11.82 crores was incurred on other temporary loans/dealers deposit, having nexus with main business function. Further, no direct nexus of interest expenditure with investments or earning of dividend income

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

LODHI PROPERTY COMPANY LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri Kuldip Singh & Dr. M.L. Meena

disallowance of Rs.1,34,56,177/- claimed by the assessee under the head “professional and legal charges” by treating the same as capital expenditure, initiated the penalty proceedings by way of issuance of notice under section 274

MOVING PICTURE COMPANY INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri R.K. Panda & Shri Kuldip Singh

disallowance on account of amount written off respectively), AO initiated the penalty proceedings u/s 271(1)(c) of the Act by way of issuance of notices u/s 274 read with section

M/S. OCHOA LABORATORIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri R.K.Panda & Shri Kuldip Singh

disallowance of FBT, PF, ESI and IT. The 3 ITA No.4967/Del./2016 AO initiated the penalty proceedings by way of issuance of notice u/s 274 read with section

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

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

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

disallowance without arriving at a prima facie satisfaction with respect to infraction by the assessee of clause (c) of sub-section (1) of Section 271 of the Act. A requirement which is mandated by the provision itself. 15.7 Learned ASG also sought to place reliance on the Memorandum as well as Clause 48 of the Notes on Clauses appended