DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

33B, in the circumstances and within the period specified in that section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose: Provided that nothing contained in this sub-section shall apply in the case of transfer, either in whole or in part, of machinery or plant previously used

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

33B, in the circumstances and within the period specified in that section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose: Provided that nothing contained in this sub-section shall apply in the case of transfer, either in whole or in part, of machinery or plant previously used

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

33B, in the circumstances and within the period specified in that section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose: Provided that nothing contained in this sub-section shall apply in the case of transfer, either in whole or in part, of machinery or plant previously used

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

33B, in the circumstances and within the period specified in that section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose: Provided that nothing contained in this sub-section shall apply in the case of transfer, either in whole or in part, of machinery or plant previously used

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

33B, in the circumstances and within the period specified in that section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose: Provided that nothing contained in this sub-section shall apply in the case of transfer, either in whole or in part, of machinery or plant previously used

COMMISSIONER OF INCOME TAX,DEL vs. M/S DEWAN CHAND SATYAPAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

disallowed the claim of deduction under section 80-IA on the ground that the deduction is allowable to a new industrial undertaking unit, whereas the installation of new machines by the Assessee was just an ITA Nos. 87/03, 1411, 1541/06 Page 4 expansion of existing business, as the assessee’s Radiology and imaging unit was in existence since

COMMISSIONER OF INCOME TAX vs. M/S. DEWAN CHAND SATYAPAL

disallowed the claim of deduction under section 80-IA on the ground that the deduction is allowable to a new industrial undertaking unit, whereas the installation of new machines by the Assessee was just an 2012:DHC:7635-DB ITA Nos. 87/03, 1411, 1541/06 Page 4 expansion of existing business, as the assessee’s Radiology and imaging unit

THE COMMISSIONER OF INCOME TAX vs. REGENCY CREATIONS LTD

disallowed the claim for deduction under Section 10B. The Appellate 2012:DHC:5783-DB ITAs 69/08, 783/09, 1239/11, 2002/10, 438,439,440,441/12 Page 5 Commissioner accepted the assessees’ argument following his previous order for the assessment year 2003-04 and also after observing that the appellant had exported computer software through proper banking channels and after duly complying with

SH. DEVENDER KUMAR MITTAL,NEW DELHI vs. ITO, NEW DELHI

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

Bench: : Smt. Diva Singh & Shri L.P. Sahu

section and paid the tax on it stating that he is accepting the disallowance just for the peace of mind and to avoid further litigation. The Assessing Officer, therefore, initiated penalty proceedings u/s. 271(1)(c) of the Act and imposed a penalty of Rs.3,53,286/- for furnishing inaccurate particulars of income. Aggrieved by this penalty order, the assessee

M/S. P.K. COTTON MILLS (P) LTD.,,MEERUT vs. ACIT, MEERUT

In the result, appeal by the Assessee is partly allowed

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

disallow under section 40(a)(ia) of the Act, we find from the questionnaire dated 13/05/10 that following queries were made in respect of sundry creditors, unsecured loans and TDS. “Query No. 5: Confirmation of sundry creditors alongwith there PAN and complete address and copy of return of income to prove their identity, genuineness of transaction and creditworthiness. Query

M/S. P.K. COTTON MILLS PVT. LTD.,MEERUT vs. CIT, MEERUT

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

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2008-09 Vs. Commissioner Of Income Tax, M/S. P.K. Cotton Mills Pvt. Ltd., 202, New Mohan Puri, Meerut. Meerut Pan : Aadcp4270D (Appellant) (Respondent) Appellant By Sh. Vinod Kr. Goel, Adv. Respondent By Sh. Ankur Garg, Cit(Dr) Date Of Hearing 24.08.2016 Date Of Pronouncement 18.11.2016 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against Order Dated 18/03/2013 Passed By The Learned Commissioner Of Income Tax, Meerut Under Section 263 Of The Income-Tax Act, 1961(In Short “The Act”) Revising The Assessment Order Under Section 143(3) Of The Act For Assessment Year 2008-09. The Assessee Revised Its Grounds Of Appeal Vide Letter Dated 07/07/2015, Which Are Reproduced As Under: “1. That Notice U/S 263 Issued By Cit, Meerut Was Vague & Is Based Upon Incorrect Facts & Law & No Reasonable & Proper Opportunity Being Heard Was Allowed. Hence, Entire Proceeding Is Against The Principle Of Natural Justice. 2. That Ld. Cit, Meerut Has Not Justified In Making Addition Of Rs. 49,46,196/- Claimed By The Assessee As Loss On Account Of Machinery, Which Is After Due Consideration Accepted By The Ld. A.O.. This Addition Is Against Law & Facts Of The Case.

disallow under section 40(a)(ia) of the Act, we find from the questionnaire dated 13/05/10 that following queries were made in respect of sundry creditors, unsecured loans and TDS. “Query No. 5: Confirmation of sundry creditors alongwith there PAN and complete address and copy of return of income to prove their identity, genuineness of transaction and creditworthiness. Query

M/S. LAULS LIMITED,FARIDABAD vs. ADDL. CIT, FARIDABAD

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Smt. Beena A. Pillai & Assessment Years: 2010-11 & 2011-12 M/S Lauls Limited Vs. Addl Cit, 33B, Nit, Range-Ii, Faridabad Faridabad. Pan: Aaacl3118P (Appellant) (Respondent) Assessee By : Sh. P.C. Parwal, Ca Department By : Sh. S.L. Anuragi, Sr. Dr Date Of Hearing : 04.06.2018 Date Of Pronouncement : 05.06.2018 Order Per R.S. Syal, Vp: These Two Appeals Have Been Filed By The Assessee Relating To Assessment Years 2010-11 & 2011-12. Since Some Of The Issues Raised In

33B, NIT, Range-II, Faridabad Faridabad. PAN: AAACL3118P (Appellant) (Respondent) Assessee By : Sh. P.C. Parwal, CA Department By : Sh. S.L. Anuragi, Sr. DR Date of Hearing : 04.06.2018 Date of Pronouncement : 05.06.2018 ORDER PER R.S. SYAL, VP: These two appeals have been filed by the assessee relating to assessment years 2010-11 and 2011-12. Since some of the issues raised

JINDAL STEEL POWER LTD.,NEW DELHI vs. CIT, HISAR

In the result, the appeal of the assessee is partly allowed

Bench: Sh. C.M. Garg & Sh. O.P. Kant

disallowed under section 43B of the Act since under 3128/Del/2014, AY: 2008-09 M/s. Jindal Steel & Power Ltd. that section deduction of gratuity is allowed only on payment basis. It was further contended that allegation of Revenue that assessee had not filed reconciliation and ledger account of gratuity was factually incorrect. It was submitted that ledger accounts were filed before

JINDAL STEEL & POWER LTD.,NEW DELHI vs. ACIT, HISAR

In the result, the appeal of the assessee is partly allowed

Bench: Sh. C.M. Garg & Sh. O.P. Kant

disallowed under section 43B of the Act since under 3128/Del/2014, AY: 2008-09 M/s. Jindal Steel & Power Ltd. that section deduction of gratuity is allowed only on payment basis. It was further contended that allegation of Revenue that assessee had not filed reconciliation and ledger account of gratuity was factually incorrect. It was submitted that ledger accounts were filed before

C.I.T vs. LEISURE WEAR EXPORTS LTD

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MS. JUSTICE REVA KHETRAPAL

disallowed the entire claim, there was no reason for alleging that the ITA No.1165/2007 Page 5 of 17 AO did not make any third party inquiry in so far as the export business of the assessee was concerned, that is regarding its purchase of stock, sundry debtors on account of export sales etc. With regard to income of ` 1.61 crores

M/S. LUCINA LAND DEVELOPMENT LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, grounds no

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2012-13 M/S. Lucina Land Vs. Acit, Development Ltd., Circle-15(2), M-62 & 63, 1St Floor, New Delhi Connaught Place, New Delhi Pan :Aabcl2130N (Appellant) (Respondent)

disallowance made by the Assessing Officer under section 36(1)(iii) of the Act. 5.7 We find that Hon’ble Bombay High Court in the case of Shapporji Pallonji Mistry (supra) held as under: “It is always wise to consider the practical effects of ones judgment and especially in matters of tax and revenue

COMMISSIONER OF INCOME TAX DELHI IV vs. DLF POWER LTD.

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SIDDHARTH MRIDUL

disallowed for calculating the book profits u/s 155JB, it does not appeal to reason that a different view could be taken on this point. Be as it may, the Assessing Officer has not examined this issue in the assessment order which again as rendered the assessment order in question erroneous and prejudicial to the interests of revenue inasmuch

MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED,DELHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2, DELHI , JHANDEWALAN EXTENSION, NEW DELHI

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

Bench: Shri Mahavir Singh & Shri Naveen Chandra

33B; (b) if the business is acquired by the assessee by way of transfer from any other person or as a result of any business reorganisation; (c) unless the assessee furnishes alongwith the return of income the report of the accountant, as defined in the Explanation to section 288 giving such particulars in the report as may be prescribed. Explanation

LEMON TREE LAND AND DEVELOPERS PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 2, GURGAON

In the result, the appeal of the assessee is partly allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

disallowing Rs. 1,96,45,788/- 50. Before us, the ld. counsel for the assessee vehemently stated that the ld. CIT(A) has travelled beyond the assessment and has made enhancement for new source which was never considered by the Assessing Officer while framing the assessment u/s 143(3) of the Act. 51. Strong reliance was placed on the decision