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

46 taxmann.com 444/361ITR 432/[2013] 260 CTR 73/2012 SCC Online CAL12147 dismissed the Revenue's appeal. The relevant para of the said judgement is reproduced herein below: "We are satisfied that the order under challenge is a just order. The reasoning appearing at paragraph 6 of the judgment and/or order under challenge reads as follows : "In the present case before

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

46 taxmann.com 444/361ITR 432/[2013] 260 CTR 73/2012 SCC Online CAL12147 dismissed the Revenue's appeal. The relevant para of the said judgement is reproduced herein below: "We are satisfied that the order under challenge is a just order. The reasoning appearing at paragraph 6 of the judgment and/or order under challenge reads as follows : "In the present case before

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 of deduction of Rs. 46,00,000/- under section 80IC made by the AO with respect to inter-unit

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

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

Disallowance under section 40(a)(ia) for alleged default of non-deduction of TDS on quarterly target and turnover discount and Sales Discount. During the relevant year, the appellant incurred expenditure of Rs. 237,46

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

section 143(3) of the Act and it cannot be said that the issue of valuation of closing stock has not been examined, and (ii) secondly, there is no mistake in the accounting/valuation method followed by the appellant in relation to the aforesaid expenses, since the issue of inclusion of the aforesaid expenses in closing inventory would arise only

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.

section 14A of the Act, inter alia, by wrongly including (a) strategic/ business investments of the appellant; and (b) investments not actually yielding exempt income during the relevant year, while applying formulae prescribed in Rule 8D of the Rules. Re: disallowance of interest paid on Compulsorily Convertible Debentures 2. That the CIT(A) erred on facts

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.

section 14A of the Act, inter alia, by wrongly including (a) strategic/ business investments of the appellant; and (b) investments not actually yielding exempt income during the relevant year, while applying formulae prescribed in Rule 8D of the Rules. Re: disallowance of interest paid on Compulsorily Convertible Debentures 2. That the CIT(A) erred on facts

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.

section 14A of the Act, inter alia, by wrongly including (a) strategic/ business investments of the appellant; and (b) investments not actually yielding exempt income during the relevant year, while applying formulae prescribed in Rule 8D of the Rules. Re: disallowance of interest paid on Compulsorily Convertible Debentures 2. That the CIT(A) erred on facts

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.

section 14A of the Act, inter alia, by wrongly including (a) strategic/ business investments of the appellant; and (b) investments not actually yielding exempt income during the relevant year, while applying formulae prescribed in Rule 8D of the Rules. Re: disallowance of interest paid on Compulsorily Convertible Debentures 2. That the CIT(A) erred on facts

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.

section 14A of the Act, inter alia, by wrongly including (a) strategic/ business investments of the appellant; and (b) investments not actually yielding exempt income during the relevant year, while applying formulae prescribed in Rule 8D of the Rules. Re: disallowance of interest paid on Compulsorily Convertible Debentures 2. That the CIT(A) erred on facts

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.

section 14A of the Act, inter alia, by wrongly including (a) strategic/ business investments of the appellant; and (b) investments not actually yielding exempt income during the relevant year, while applying formulae prescribed in Rule 8D of the Rules. Re: disallowance of interest paid on Compulsorily Convertible Debentures 2. That the CIT(A) erred on facts

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.

section 14A of the Act, inter alia, by wrongly including (a) strategic/ business investments of the appellant; and (b) investments not actually yielding exempt income during the relevant year, while applying formulae prescribed in Rule 8D of the Rules. Re: disallowance of interest paid on Compulsorily Convertible Debentures 2. That the CIT(A) erred on facts

GE CAPITAL SERVICES INDIA,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishia N D Shri K. Narasimha Chary

disallowance of Rs.73,46,160/- being Provision for Doubtful Assets created in compliance with the Non-Banking Financial Companies Prudential Norms (RBI) Directives, 1998 issued by The Reserve Bank of India in pursuance of the powers granted to it under section

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

section 37(1) of the Act. 45.8. Without prejudice the assessing officer erred on facts and in law in not holding that depreciation was allowable on the payment of export commission if the same were to constitute capital expenditure. 46. That the Assessing Officer erred on facts and in law in making ad-hoc disallowance

TECHNOLOGIES LTD) vs. ACIT

Appeals are allowed

Section 158-BC of the Act were initiated; or (iv) the year in which block assessment order was passed.” 46. As noted above, that Rule 8-D has again been amended by the Income Tax (Fourteenth Amendment) Rules, 2016 w.e.f. 2-6-2016, by which Rule 8-D sub-rule (2) has been substituted by a new provision which

TECHNOLOGIES LTD) vs. ACIT

Appeals are allowed

Section 158-BC of the Act were initiated; or (iv) the year in which block assessment order was passed.” 46. As noted above, that Rule 8-D has again been amended by the Income Tax (Fourteenth Amendment) Rules, 2016 w.e.f. 2-6-2016, by which Rule 8-D sub-rule (2) has been substituted by a new provision which

TECHNOLOGIES LTD) vs. ACIT

Appeals are allowed

Section 158-BC of the Act were initiated; or (iv) the year in which block assessment order was passed.” 46. As noted above, that Rule 8-D has again been amended by the Income Tax (Fourteenth Amendment) Rules, 2016 w.e.f. 2-6-2016, by which Rule 8-D sub-rule (2) has been substituted by a new provision which

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 statutory obligation under Section 135 of the Companies Act, 2013 and cannot be considered as business expenditure under Section 37(1) of the Income Tax Act, 1961. This position is Page 8 of 16 explicitly clarified in Explanation