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

4. Statutory Disallowance of Gifts—Section 37 and Case Law: While the Act does not explicitly disallow gifts, case law (including

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

disallowing the assessee’s entire purchases of `8,86,36,574/- under Section 37(1) of the Act thereby treating the same as bogus ones i.e., mere accommodation entries going by its authorized persons’ statements recorded in the course of Section 132 search dated 20th September, 2023. We next notice that the learned Assessing Officer had further made Section

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT CENTRAL CIRCLE -05 , DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

disallowing the assessee’s entire purchases of `8,86,36,574/- under Section 37(1) of the Act thereby treating the same as bogus ones i.e., mere accommodation entries going by its authorized persons’ statements recorded in the course of Section 132 search dated 20th September, 2023. We next notice that the learned Assessing Officer had further made Section

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

disallowing the assessee’s entire purchases of `8,86,36,574/- under Section 37(1) of the Act thereby treating the same as bogus ones i.e., mere accommodation entries going by its authorized persons’ statements recorded in the course of Section 132 search dated 20th September, 2023. We next notice that the learned Assessing Officer had further made Section

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

4. The Ld. AO completed the assessment under section 143(3) of the Income Tax Act, 1961 (the “Act”) on total income of Rs. 1,53,74,00,120/- on 19.01.2016 for AY 2013-14 including therein disallowance of depreciation of Rs. 57,05,766/- on investment made in windmills; disallowance of Rs. 20,54,47,894/- being notional loss

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

4. The Ld. AO completed the assessment under section 143(3) of the Income Tax Act, 1961 (the “Act”) on total income of Rs. 1,53,74,00,120/- on 19.01.2016 for AY 2013-14 including therein disallowance of depreciation of Rs. 57,05,766/- on investment made in windmills; disallowance of Rs. 20,54,47,894/- being notional loss

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

4. The Ld. AO completed the assessment under section 143(3) of the Income Tax Act, 1961 (the “Act”) on total income of Rs. 1,53,74,00,120/- on 19.01.2016 for AY 2013-14 including therein disallowance of depreciation of Rs. 57,05,766/- on investment made in windmills; disallowance of Rs. 20,54,47,894/- being notional loss

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

4. The Ld. AO completed the assessment under section 143(3) of the Income Tax Act, 1961 (the “Act”) on total income of Rs. 1,53,74,00,120/- on 19.01.2016 for AY 2013-14 including therein disallowance of depreciation of Rs. 57,05,766/- on investment made in windmills; disallowance of Rs. 20,54,47,894/- being notional loss

TRIVENI TURBINE LTD,NOIDA vs. ACIT, CIRCLE 5(3)(1), NOIDA

In the result, the appeal of the assessee is dismissed

Bench: Shri Anubhav Sharma & Shri Krinwant Sahay[Assessment Year: 2018-19]

4 to 4.9, Page 2-13] 1. During the year under consideration, the appellant had incurred expenditure aggregating to Rs.3,09,22,709 towards Corporate Social Responsibility (‘CSR’) activities in terms of Section 135 of the Companies Act, 2013. The aforesaid expenditure was duly disallowed in terms of section 37

M/S PARNIKA COMMERCIAL & ESTATES (P) LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal is allowed for statistical purposes

Bench: : Shri C.M. Garg & Shri L.P. Sahu

disallowed the claim of the assessee u/s.80IA of the Act by applying the Explanation to sec.80IA of the Act. Against this, the assessee went in appeal before the Commissioner of Income- tax(Appeals), who following the earlier order of the Tribunal in assessee’s own case for the assessment year 2004-05 in ITA No.544/Mds/2010 dated 13.9.2011 allowed the claim

M/S. BHARTI AIRTEL LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result appeal of the assessee with respect to ground No

Bench: Shri I.C.Sudhir & Shri Prashant Maharishibharti Airtel Ltd, Addl Cit, Bharti Crescent, 1, Vs. Range-2, Cr Building, Ip Nelson Mandela Road, Vasant Estate, New Delhi Kunj, New Delhi Pan:Aaacb2894G (Appellant) (Respondent) Bharti Airtel Ltd, Addl Cit, Bharti Crescent, 1, Vs. Range-2, Cr Building, Ip Nelson Mandela Road, Vaxant Estate, New Delhi Kunj, New Delhi Pan:Aaacb2894G (Appellant) (Respondent)

37 of 59 subject matter of any disallowance under section 40(a)(ia) of the Act. a) where TDS return filed stands accepted and there is no specific order under section 201 of the Act; b) where TDS return filed is followed by an order under section 201, wherein there is no specific adverse finding of default in respect

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

4 lacs. On further appeal, the CIT(A) vide order dated 01.02.2018 deleted the disallowance made by the AO in the set aside order. It would, however, be pertinent to point out that the aforesaid disallowance sustained by the Tribunal in assessment years 2007-08 and 2008-09 has been categorically distinguished by the ITAT

BSC C&C JV,NEW DELHI vs. NEAC, NEW DELHI

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

Bench: Shri G.S. Pannu, Hon’Ble & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.705/Del/2021 िनधा"रणवष"/Assessment Year: 2016-17 बनाम Bsc C&C Jv Assessing Officer, 74, Hemkunt Colony, Vs. National E-Assessment New Delhi. Centre, Delhi. Pan No. Aadfb8115G अपीलाथ" Appellant ""यथ"/Respondent

disallowed the deduction claimed u/s 80IA(4) of the Act. The Panel notes that the analysis as well as the conclusions drawn by the AO is based on perusal of contract agreements and its details. Hence, the Panel does not find any reason to interfere with the conclusion drawn by the AO in this regard. Ground number 5 is rejected

MOHAN MEAKIN LTD. vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

4. As noted above, the Assessing Officer was not satisfied with the explanation of the assessee and proceeded to disallow on the ground that the assessee had not been able to produce any evidence regarding efforts made for recovery of the said amount and was also not able to establish that this debt became bad during this year. 5. Learned

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

4. In ITA No. 5232/Del/2015, following grounds have been raised by the assessee: “1. That on the facts and circumstances of the case and in law, the CIT(A) has erred in arbitrarily sustaining the disallowance under section 14A of the Act, made by the Assessing Officer (“AO”) by applying the provisions of Rule 8D(2)(iii) of the Income

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

4. In ITA No. 5232/Del/2015, following grounds have been raised by the assessee: “1. That on the facts and circumstances of the case and in law, the CIT(A) has erred in arbitrarily sustaining the disallowance under section 14A of the Act, made by the Assessing Officer (“AO”) by applying the provisions of Rule 8D(2)(iii) of the Income

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

4. In ITA No. 5232/Del/2015, following grounds have been raised by the assessee: “1. That on the facts and circumstances of the case and in law, the CIT(A) has erred in arbitrarily sustaining the disallowance under section 14A of the Act, made by the Assessing Officer (“AO”) by applying the provisions of Rule 8D(2)(iii) of the Income

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

4. In ITA No. 5232/Del/2015, following grounds have been raised by the assessee: “1. That on the facts and circumstances of the case and in law, the CIT(A) has erred in arbitrarily sustaining the disallowance under section 14A of the Act, made by the Assessing Officer (“AO”) by applying the provisions of Rule 8D(2)(iii) of the Income