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

57,05,766/- on investment made in windmills; disallowance of Rs. 20,54,47,894/- being notional loss booked under the head foreign exchange loss; disallowance of Rs. 56,97,665/- for non- deduction of TDS; disallowance of Rs. 1,16,97,590/- 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

57,05,766/- on investment made in windmills; disallowance of Rs. 20,54,47,894/- being notional loss booked under the head foreign exchange loss; disallowance of Rs. 56,97,665/- for non- deduction of TDS; disallowance of Rs. 1,16,97,590/- under 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

57,05,766/- on investment made in windmills; disallowance of Rs. 20,54,47,894/- being notional loss booked under the head foreign exchange loss; disallowance of Rs. 56,97,665/- for non- deduction of TDS; disallowance of Rs. 1,16,97,590/- under section

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, the appeal of the Revenue in ITA No

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

section 43B was allowed by the AO himself and confirmed by the DRP in AY 2007-08. 5. That the Assessing Officer erred on facts and in law in making further disallowance of expenses amounting to Rs. 32,57

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the Revenue in ITA No

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

section 43B was allowed by the AO himself and confirmed by the DRP in AY 2007-08. 5. That the Assessing Officer erred on facts and in law in making further disallowance of expenses amounting to Rs. 32,57

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

section 14A of the Act read with Rule 8D of the Income Tax Rules. 5. That the assessing officer/DRP erred on facts and in law in disallowing weighted deduction of Rs.249,57

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

section 14A of the Act read with Rule 8D of the Income Tax Rules. 5. That the assessing officer/DRP erred on facts and in law in disallowing weighted deduction of Rs.249,57

DCIT, CIRCLE-20(1), NEW DELHI vs. PRIAPUS DEVELOPERS PRIVATE LIMITED, NEW DELHI

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

disallowance under Section 14A amounting to Rs.26,99,57,241/-. 4. Aggrieved by the disallowances made under Section 14A under

THE COMMISSIONER OF INCOME TAX vs. J.B.ROY

Section 57(iii) of the Act. The Tribunal appears to have put to the Revenue that this was not the ground on which the interest payment claimed as a deduction was disallowed

C & S ELECTRIC LTD.,NEW DELHI vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

In the result, the revenue's appeal stands dismissed as above

57,724/- from sale of scrap by SEZ unit.\n6. On the facts and circumstances of the case and in law, the Ld. CIT(A) has\nerred\nin reducing the disallowance to Rs.12,42,840/- from\nRs.49,82,586/- made by the AO u/s 14A of the I.T. Act read with Rule 8D\nof the Income Tax Rules

JAYPEE INFRA VENTURES PRIVATE LIMITED,GAUTAM BUDH NAGAR vs. ACIT CIRCLE 13(1) , NEW DELHI

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

Bench: Shri Anubhav Sharma & Shri Avdhesh Kumar Mishra

Disallowance of Rs.6,57,25,564/- under section 14A of the Income Tax Act, 1961 (Act) and iii. Addition of Rs.2

ACIT, CIRCLE-10(1), NEW DELHI vs. IRCON INTERNATIONAL LTD, NEW DELHI

In the result, both appeals of the Revenue are dismissed as above

Bench: Shri Anubhav Sharma & Shri Avdhesh Kumar Mishra

57,16,297/-. 6. That the department craves to add or amend the grounds of appeal before Hon'ble ITAT is finally heard or disposed off.” Ircon International Ltd. 3.2 Following effective issues require adjudication in these appeals: - (i) Deduction under section 80IA of the Income Tax Act, 1961 (‘Act’) (both appeals), (ii) Disallowance

ACIT CIRCLE 10(1), NEW DELHI vs. IRCON INTERNATIONAL LTD, NEW DELHI

In the result, both appeals of the Revenue are dismissed as above

Bench: Shri Anubhav Sharma & Shri Avdhesh Kumar Mishra

57,16,297/-. 6. That the department craves to add or amend the grounds of appeal before Hon'ble ITAT is finally heard or disposed off.” Ircon International Ltd. 3.2 Following effective issues require adjudication in these appeals: - (i) Deduction under section 80IA of the Income Tax Act, 1961 (‘Act’) (both appeals), (ii) Disallowance

M/S MARUTI SUZUKI INDIA LTD.,,NEW DELHI vs. DCIT, NEW DELHI

disallowing\nweighted deduction of Rs.249,57,70,000/- claimed by the appellant under\nsection 35(2AB) of the Act in respect of R&D expenditure of Rohtak Unit.\n5.1 That the assessing officer/DRP filed to appreciate that since Rohtak\nUnit was duly approved, R&D deduction of Rs.249,57,70,000/- claimed for\nthat unit is allowable deduction under section

ACIT CIRCLE-26(2), NEW DELHI vs. VIHAAN NETWORKS PVT LTD, NEW DELHI

In the result, appeal of the Revenue is dismissed and Cross Objection of the assessee is allowed

Bench: Shri M Balaganesh & Ms. Astha Chandraasstt. Year: 2011-12 Acit,Circle-26(2) Vs. Vihaan Networks Pvt. Ltd. New Delhi. A-60, Naraina Industrial Area, Phase-01, New Delhi – 110 028 Pan Aaccr2460C (Appellant) (Respondent)

57 taxmann.com 28 (Delhi) wherein it is held that section 14A will not apply if no exempt income is received or receivable during the relevant previous year. Relying on decisions (supra) the Ld. CIT(A) deleted the disallowance

CHEMINVEST LIMITED vs. COMMISSIONER OF INCOME TAX-VI

The appeal is allowed in the above terms

disallowance irrespective of the fact whether any income is earned by the assessee or not. Section 14A does not envisage any such exception. This is even if the interest paid on borrowings for the purchase of share were allowable u/s 57

ACIT, CIRCLE- 1, LTU, NEW DELHI vs. C&S ELECTRIC LTD., NEW DELHI

In the result, the revenue’s appeal stands dismissed as above

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishraita No. 2622/Del/2018, A.Y. 2013-14 Ita No. 2623/Del/2018, A.Y. 2014-15 Ita No. 7981/Del/2018, A.Y. 2015-16 C & S Electric Limited Deputy Commissioner Of 222, Okhla Industrial Estate Income Tax, Phase-Iii, New Delhi Vs. Circle-1, Ltu, New Delhi Pan: Aaacc0909K (Appellant) (Respondent) Ita No. 2532/Del/2018, A.Y.2013-14 Ita No. 2533/Del/2018, A.Y.2014-15 Ita No. 8274/Del/2018, A.Y.2015-16 Deputy Commissioner Of C & S Electric Limited Income Tax, (Formerly Controls & Circle-1, Ltu, Vs. Switchgear Co. Ltd.) New Delhi 222, Okhla Industrial Estate, Phase-Iii, New Delhi Pan: Aaacc0909K (Appellant) (Respondent) Appellant By Sh. Anil Bhalla, Ca Respondent By Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 05/06/2025 Date Of Pronouncement 30/06/2025 Order Per Bench Cross Appeal By The Assessee & Revenue Containing Common Facts Were Heard Together Being Inter-Connected With Each Other & Are Being Disposed Off By This Common Order. Ita No.2532, 2533 & 8274/Del/2018 C & S Electric Ltd. 2. These Appeals Filed By The Assessee & Revenue Are Directed Against Orders Dated 10.01.18 & 25.09.2018 Respectively Of The Commissioner Of Income Tax (Appeals)-22, New Delhi [‘Cit(A)’].

57,724/- SEZ unit u/s 10AA 4 On a/c of disallowance u/s 14A 49,82,586/- 5 On a/c of foreign travelling 13,42,417/- 6 On a/c of depreciation on 1,09,592/- goodwill 7 Club Membership fees 1,59,005/- 8 Disallowance of deduction u/s 11,42,000/- 1,82,42,791/- 35(2AB) of the Act Total

C & S ELECTRIC LTD.,NEW DELHI vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

In the result, the revenue’s appeal stands dismissed as above

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishraita No. 2622/Del/2018, A.Y. 2013-14 Ita No. 2623/Del/2018, A.Y. 2014-15 Ita No. 7981/Del/2018, A.Y. 2015-16 C & S Electric Limited Deputy Commissioner Of 222, Okhla Industrial Estate Income Tax, Phase-Iii, New Delhi Vs. Circle-1, Ltu, New Delhi Pan: Aaacc0909K (Appellant) (Respondent) Ita No. 2532/Del/2018, A.Y.2013-14 Ita No. 2533/Del/2018, A.Y.2014-15 Ita No. 8274/Del/2018, A.Y.2015-16 Deputy Commissioner Of C & S Electric Limited Income Tax, (Formerly Controls & Circle-1, Ltu, Vs. Switchgear Co. Ltd.) New Delhi 222, Okhla Industrial Estate, Phase-Iii, New Delhi Pan: Aaacc0909K (Appellant) (Respondent) Appellant By Sh. Anil Bhalla, Ca Respondent By Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 05/06/2025 Date Of Pronouncement 30/06/2025 Order Per Bench Cross Appeal By The Assessee & Revenue Containing Common Facts Were Heard Together Being Inter-Connected With Each Other & Are Being Disposed Off By This Common Order. Ita No.2532, 2533 & 8274/Del/2018 C & S Electric Ltd. 2. These Appeals Filed By The Assessee & Revenue Are Directed Against Orders Dated 10.01.18 & 25.09.2018 Respectively Of The Commissioner Of Income Tax (Appeals)-22, New Delhi [‘Cit(A)’].

57,724/- SEZ unit u/s 10AA 4 On a/c of disallowance u/s 14A 49,82,586/- 5 On a/c of foreign travelling 13,42,417/- 6 On a/c of depreciation on 1,09,592/- goodwill 7 Club Membership fees 1,59,005/- 8 Disallowance of deduction u/s 11,42,000/- 1,82,42,791/- 35(2AB) of the Act Total