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

34,94,094 and raised debit notes on the assessee for reimbursement of the said expenses on cost-to-cost basis, without any mark-up. SITV Network had duly deducted and deposited TDS on the said expenditure. Assessing officer's contention The assessing officer disallowed the reimbursement of expenditure made to SITV Network, under section

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

34,94,094 and raised debit notes on the assessee for reimbursement of the said expenses on cost-to-cost basis, without any mark-up. SITV Network had duly deducted and deposited TDS on the said expenditure. Assessing officer's contention The assessing officer disallowed the reimbursement of expenditure made to SITV Network, under section

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, as per Rule 8D. Facts: During the relevant previous year, the assessee company earned dividend/interest income of Rs. 15,11,45,290 from investments in shares, 30 bonds, and mutual funds, which was exempt under section 10(34

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 ₹ 1,80,83,891/-) under section 14A of the Act. 3.2 Brief facts qua the issue in dispute are that the assessee reported dividend income of ₹ 35,09,948/-as exempted under section 10(34

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 ₹ 1,80,83,891/-) under section 14A of the Act. 3.2 Brief facts qua the issue in dispute are that the assessee reported dividend income of ₹ 35,09,948/-as exempted under section 10(34

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 ₹ 1,80,83,891/-) under section 14A of the Act. 3.2 Brief facts qua the issue in dispute are that the assessee reported dividend income of ₹ 35,09,948/-as exempted under section 10(34

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 ₹ 1,80,83,891/-) under section 14A of the Act. 3.2 Brief facts qua the issue in dispute are that the assessee reported dividend income of ₹ 35,09,948/-as exempted under section 10(34

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

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

34. Without prejudice, it is submitted that the appellant was under the bonafide belief that no tax was required to be deducted there from. Reliance in this regard is also placed on the decision of Bombay High Court CIT v. Kotak Securities Ltd.: 245 CTR 3, wherein it was held that an expenditure cannot be disallowed under section

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

disallowance of Rs. 7,92,643/- under section 14A and Rule 8D. The Ld. AO discussed this issue in para 17 page 10-12 of his order. On query the assessee submitted that it earned dividend income of Rs. 45.49 lacs exempt under section 10(34

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

disallowance of Rs. 7,92,643/- under section 14A and Rule 8D. The Ld. AO discussed this issue in para 17 page 10-12 of his order. On query the assessee submitted that it earned dividend income of Rs. 45.49 lacs exempt under section 10(34

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

disallowance of Rs. 7,92,643/- under section 14A and Rule 8D. The Ld. AO discussed this issue in para 17 page 10-12 of his order. On query the assessee submitted that it earned dividend income of Rs. 45.49 lacs exempt under section 10(34

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

disallowance of Rs. 7,92,643/- under section 14A and Rule 8D. The Ld. AO discussed this issue in para 17 page 10-12 of his order. On query the assessee submitted that it earned dividend income of Rs. 45.49 lacs exempt under section 10(34

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

disallowing amount of Rs. 1,47,34,700 on account of provision made towards commission paid on institutional sales to dealers, on the ground that the assessee failed to deduct tax at source under 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)

disallowance must be restricted to actual/ real income earned during the relevant year, the corollary is that judicial interpretation stands accepted and there is, even otherwise, no legislative intent to dilute the principle so laid down in various judicial precedents. 31. Even otherwise, it is further respectfully submitted that on deeper analysis of the relevant provisions of the newly inserted

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.

disallowance of interest on compulsory convertible debentures subscribed by its holding Company i.e. Religare Enterprises Ltd interest for the A.Y 2014-15, wherein the CIT(A) has taken into account of the order passed by its predecessor for the Assessment year 2012-13 and taken a contrary view, which requires no interference. 31. Per contra, the ld. Assessee's Representative

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.

disallowance of interest on compulsory convertible debentures subscribed by its holding Company i.e. Religare Enterprises Ltd interest for the A.Y 2014-15, wherein the CIT(A) has taken into account of the order passed by its predecessor for the Assessment year 2012-13 and taken a contrary view, which requires no interference. 31. Per contra, the ld. Assessee's Representative

ACIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE FINVEST LTD.,, NEW DELHI

In the result, -Appeal in ITA No

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

disallowance of interest on compulsory convertible debentures subscribed by its holding Company i.e. Religare Enterprises Ltd interest for the A.Y 2014-15, wherein the CIT(A) has taken into account of the order passed by its predecessor for the Assessment year 2012-13 and taken a contrary view, which requires no interference. 31. Per contra, the ld. Assessee's Representative

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.

disallowance of interest on compulsory convertible debentures subscribed by its holding Company i.e. Religare Enterprises Ltd interest for the A.Y 2014-15, wherein the CIT(A) has taken into account of the order passed by its predecessor for the Assessment year 2012-13 and taken a contrary view, which requires no interference. 31. Per contra, the ld. Assessee's Representative