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

section 14A to the extent of the exempted income. Following the finding of the Hon’ble Delhi High Court in the case of Joint Stock Investment Ltd. (supra), The Ld CIT(A) has restricted the disallowance u/s 14A of the Act in the case of the assessee to the extent of excepted income. In the facts and circumstances

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

section 14A to the extent of the exempted income. Following the finding of the Hon’ble Delhi High Court in the case of Joint Stock Investment Ltd. (supra), The Ld CIT(A) has restricted the disallowance u/s 14A of the Act in the case of the assessee to the extent of excepted income. In the facts and circumstances

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

section 14A to the extent of the exempted income. Following the finding of the Hon’ble Delhi High Court in the case of Joint Stock Investment Ltd. (supra), The Ld CIT(A) has restricted the disallowance u/s 14A of the Act in the case of the assessee to the extent of excepted income. In the facts and circumstances

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

section 14A to the extent of the exempted income. Following the finding of the Hon’ble Delhi High Court in the case of Joint Stock Investment Ltd. (supra), The Ld CIT(A) has restricted the disallowance u/s 14A of the Act in the case of the assessee to the extent of excepted income. In the facts and circumstances

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

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

42. It was further submitted that even otherwise, there is no nexus of expenses, like interest expenditure and other administrative expenses with investments, warranting disallowance under section

M/S. BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. JCIT (INTERNATIONAL TAXATION), DEHRADUN

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

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Bg Exploration & Production India Jcit (International Taxation), Ltd., Dehradun. Lake Boulevard Road, Vs. Hiranandani Business Park, Powai, Mumbai.

42 of the Act read with the PSCs, the expenditure of Rs. 39,18,72,912 incurred on non-producing PSCs. Ground No. 11: Disallowance of exploration expenditure written off 11.1 The learned AO / DRP erred in disallowing exploration expenditure written off of Rs.68,39,51,972, under section

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

42. That the assessing officer erred on facts and in law in making an ad hoc disallowance of Rs. 40,12,000, being 50% of expenses incurred through credit card on the ground that assessee failed to provide requisite information in the prescribed format. 42.1 That the assessing officer erred in making the ad hoc disallowance without examining the nature

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)

section 14A read with the formula given in Rule 81) of the Rules, disallowance has to be computed with reference to the exempt income earned in the relevant assessment year, more particularly, having regard to the concept of real income. The relevant observations of the Court are reproduced as under [refer pages 63-69 @ 66 of CLPB

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]

Disallowance under Section 37(1) [Page 42, Para 8.2]: The Ld. CIT(A) noted that CSR expenditure is a mandatory

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 Rs.9,65,00,120 made by the assessing officer being difference of (i) depreciation of Rs.35,07,63,697 claimed on vehicles given on finance lease; and (ii) Rs. 25,42,63,574/- being portion recovery of principal amount of asset included in lease rentals offered to tax; claimed offered by the appellant in revised return of income

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 Rs.9,65,00,120 made by the assessing officer being difference of (i) depreciation of Rs.35,07,63,697 claimed on vehicles given on finance lease; and (ii) Rs. 25,42,63,574/- being portion recovery of principal amount of asset included in lease rentals offered to tax; claimed offered by the appellant in revised return of income

DCIT, 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 Rs.9,65,00,120 made by the assessing officer being difference of (i) depreciation of Rs.35,07,63,697 claimed on vehicles given on finance lease; and (ii) Rs. 25,42,63,574/- being portion recovery of principal amount of asset included in lease rentals offered to tax; claimed offered by the appellant in revised return of income

RELIGARE FINVEST LTD.,NEW DELHI vs. ACIT, 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 Rs.9,65,00,120 made by the assessing officer being difference of (i) depreciation of Rs.35,07,63,697 claimed on vehicles given on finance lease; and (ii) Rs. 25,42,63,574/- being portion recovery of principal amount of asset included in lease rentals offered to tax; claimed offered by the appellant in revised return of income

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 Rs.9,65,00,120 made by the assessing officer being difference of (i) depreciation of Rs.35,07,63,697 claimed on vehicles given on finance lease; and (ii) Rs. 25,42,63,574/- being portion recovery of principal amount of asset included in lease rentals offered to tax; claimed offered by the appellant in revised return of income

ACIT (OSD), 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 Rs.9,65,00,120 made by the assessing officer being difference of (i) depreciation of Rs.35,07,63,697 claimed on vehicles given on finance lease; and (ii) Rs. 25,42,63,574/- being portion recovery of principal amount of asset included in lease rentals offered to tax; claimed offered by the appellant in revised return of income

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 Rs.9,65,00,120 made by the assessing officer being difference of (i) depreciation of Rs.35,07,63,697 claimed on vehicles given on finance lease; and (ii) Rs. 25,42,63,574/- being portion recovery of principal amount of asset included in lease rentals offered to tax; claimed offered by the appellant in revised return of income

TECHNOLOGIES LTD) vs. ACIT

Appeals are allowed

42,404/- and since the Assessee had already made a disallowance of Rs. 3 Lacs, no further disallowance was called for. 35. In order to disallow this expense the AO had to first record, on examining the accounts, that he was not satisfied with the correctness of the Assessee's claim of Rs. 3 lakhs being the administrative expenses. This

TECHNOLOGIES LTD) vs. ACIT

Appeals are allowed

42,404/- and since the Assessee had already made a disallowance of Rs. 3 Lacs, no further disallowance was called for. 35. In order to disallow this expense the AO had to first record, on examining the accounts, that he was not satisfied with the correctness of the Assessee's claim of Rs. 3 lakhs being the administrative expenses. This