YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

viia)(II). Though the provision underwent several modifications as to the definition of "technician" as well as the quantum and period for which the exemption was available, the basic requirement that the technician must have been employed in a business carried on in India existed right from the beginning. Therefore, the contention of the revenue about the inherent implausibility

CONVERGYS INDIA SERVICES PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 4(2), NEW DELHI

In the result, the appeal of the assessee is allowed and the Stay Application of the assessee is dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 782/Del/2021 : Asstt. Year : 2016-17 & Sa No. 132/Del/2021 : Asstt. Year : 2016-17 Convergys India Services Pvt. Ltd., Vs Dcit, Industrial Plot No. 243, Tower-A, Circle-4(2), 3Rd, 4Th, 5Th 1St & Tower-B, New Delhi 2Nd 5Th Ground & Floors, Sp Infocity, Udyog Vihar, Gurgaon, Haryana-122001 (Appellant) (Respondent) Pan No. Aabcc5056G Assessee By : Sh. K. M. Gupta, Adv. & Ms. Shruti Khimta, Ar Revenue By : Sh. Mahesh Shah, Cit Dr & Sh. Mrinal Kumar Das, Sr. Dr Date Of Hearing: 20.07.2022 Date Of Pronouncement: 01.08.2022

disallowed the claim of the assessee u/s 43B of the Act holding, • that section 43B of the Act is qua 'an assessee’ 7 SA No. 132/Del/2021 Convergys India Services Pvt. Ltd. • that the Act contains specific provisions in other sections to entitle the amalgamated company to claim the deductions to which the amalgamating company was entitled to and such language

ACIT, CENTRAL CIRCLE- 13, NEW DELHI vs. ELECTRICAL & ELECTRONICS INDIA LTD., KOLKATA

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

Bench: Sh. N. K. Billaiya & Ms. Astha Chandraassessment Year: 2015-16 Acit Electrical & Electronics Central Circle-13 India Ltd. New Delhi Vs. Business Communication Centre, 21 Parsi Church Street, Opp. 18 Ezra Street, Kolkata West Bengal - 700001 Pan No.Aaace5419J (Appellant) (Respondent) Appellant By Sh. Vivek Upadhyay, Sr. Dr Respondent By Sh. Salil Aggarwal, Advocate Sh. Madhur Aggarwal, Advocate Sh. Shailesh Gupta, Ca Date Of Hearing: 06/11/2023 Date Of Pronouncement: 10/11/2023 Order Per N. K. Billaiya, Am: This Appeal By The Revenue Is Preferred Against The Order Of The Cit(A)-26, New Delhi Dated 27.08.2018 Pertaining To A.Y.2015-16. 2. The Grievance Of The Revenue Read As Under :- 1. Whether On The Facts & In The Circumstances Of The Case, Hon'Ble Cit(A) Is Erred In Deleting The Addition To Rs.5,63,34,120/- U/S 56(2)(Viia) Of The Income Tax Act, 1961. 2. Whether On The Facts & In The Circumstances Of The Case, Hon'Ble Cit(A) Is Erred In Deleting The Addition Of Rs.16,06,000/-On Account Of Business Loss Incurred On Sales Of Shree Shaleen Taxtiles Ltd. 3. Whether On The Facts & In The Circumstances Of The Case, Hon'Ble Cit(A) Is Erred In Deleting The Addition Of Rs.1,59,777/-On Account Of Business Loss On The Valuation Of Shares Of M/S Cressanda Solution Ltd. 4. The Order Of Ld. Cit(A) Is Erroneous & Not Tenable In Law & On Facts. 5. The Appellant Craves Leave To Add, Alter Or Amend Any/All Of The Grounds Of Appeal Before Or During The Course Of The Hearing Of The Appeal.

section 56(2)(viia) of the Act, therefore, no interference is called for in the findings of the CIT(A). Ground No.1 is dismissed. 16. Coming to the 2 ground we find that the assessee has done trading in the shares of Shree Shalin Textile Limited wherein it incurred losses of Rs.159777/-. The assessee had also invested in the shares

CRAYONS ADVERTISING (P) LTD.,NEW DELHI vs. DCIT CIRCLE-6(2), NEW DELHI

In the result, this appeal of the assessee is partly allowed for statistical purpose

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Us[Assessment Year: 2015-16]

disallowance of Rs. 3,40,313/- representing bed debt allowable under section 36(l)(vii) of the Act and alternatively as business loss under section 28 of the Act. 5. That the learned Commissioner of Income Tax (Appeals) has erred both in law and on facts in upholding the levy of interest under section 234B of the Act. Apropos Ground

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, CIRCLE- 19(1), NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ORIENTAL BANK OF COMMERCE,GURGAON vs. ADDL. CIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ACIT, CIRCLE- 19(1), NEW DELHI vs. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

YOUNG INDIAN,NEW DELHI vs. ACIT(E), NEW DELHI

Bench: Shri Anil Chaturvedi & Shri Amit Shukla(Through Video Conference)

56(2)(viia) that governs the taxation of receipts of shares of a company, the AO could not have invoked Section 28(iv) of the Act in respect of such transaction. WITHOUT PREJUDICE TO GROUNDS NO. I TO VI GROUND NO. VII: REFERENCE TO THE DEPARTMENTAL VALUATION OFFICER ("DVO") BEYOND THE SCOPE OF SECTION 142A

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, SPL. RANGE-07, NEW DELHI

In the result, the appeal filed by the Assessee stands allowed

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2016-17

disallowed.” 42. However, the assessee has claimed deduction u/s 36(1)(vii) for a sum of Rs.315.00 crores in respect of bad debts written off identified separately in the profit & loss account other than those provisions which were claimed u/s 36(1)(viia). The AO has mentioned in his order that the assessee has provided complete details

M/S. TOURISM FINANCE CORPORATION OF INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal filed by the Assessee is partly

Bench: the time of hearing."

viia) by erroneously treating the reversal of provision for bad and doubtful debts made in earlier year as part of provision made during the year. 6) That on the facts and in the circumstances of the case, the learned CIT(A) has erred in confirming the disallowance of Rs. 6,77,25,599/- u/s 14A in respect of dividend income

DCIT, NEW DELHI vs. CARISSA INVESTMENT PVT. LTD., DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

disallowed by the Assessing Officer with the following observations as noted by the ld. CIT(A): “The facts of the assessee’s case were also examined with reference to agreement entered by it with M/s. Indiabulls Financial Services Ltd on 12.12.2009. It is worth to note that amount paid towards settlement of capital transaction was done

SHAIL GAS PVT LTD,GHAZAIBAD vs. PR.CIT -7, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

viia) of the Income Tax Act, 1961.  The Long Term loans advanced, sources thereof and receipt of income and interest thereon. 4. Aggrieved, the assessee filed appeal before the Tribunal. 5. The main arguments of the ld. AR were that the case has been originally selected for limited scrutiny by CASS and hence 3 Shail Gas Pvt. Ltd. the issues

HOUSING & URBAN DEVELOPMENT CORPORATION LTD,NEW DELHI vs. ADDL. CIT, RANGE-4, NEW DELHI

The appeal of the assessee is partly allowed for statistical

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

56,197/-, By no stretch of imagination can Section 14A or Rule 8D be interpreted so as to mean that the entire tax exempt income is to be disallowed. The window for disallowance is indicated in Section 14A, and is only to the extent of disallowing expenditure "incurred by the assessee in relation to the tax exempt income". This proportion

ADDL. CIT, SPECIAL RANGE-4, NEW DELHI vs. HUDCO LTD. (HOUSING & URBAN DEVELOPMENT CORPORATION LTD), NEW DELHI

The appeal of the assessee is partly allowed for statistical

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

56,197/-, By no stretch of imagination can Section 14A or Rule 8D be interpreted so as to mean that the entire tax exempt income is to be disallowed. The window for disallowance is indicated in Section 14A, and is only to the extent of disallowing expenditure "incurred by the assessee in relation to the tax exempt income". This proportion