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

section 36(1)(viii). This addition may kindly be deleted. 6. That the disallowances made/upheld and the observations made are unjust, unlawful and based on mere surmises and conjectures. additions/disallowances made cannot be justified by any material on record and in any case they are excessive. 7. That the explanation given and the evidence produced, material placed and available

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

section 36(1)(viii). This addition may kindly be deleted. 6. That the disallowances made/upheld and the observations made are unjust, unlawful and based on mere surmises and conjectures. additions/disallowances made cannot be justified by any material on record and in any case they are excessive. 7. That the explanation given and the evidence produced, material placed and available

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

1. Proportionate Methodology: Section 40(a)(ia) provides that if an assessee tails to deduct or deducts short TDS on specified payments (sections 194A-194N), the amount shall be disallowed. The question is: how much? The statute is not clear on whether the AO should disallow (A) the entire payment amount, (B) only the TDS shortfall, or (C) a proportionate

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

1. Proportionate Methodology: Section 40(a)(ia) provides that if an assessee tails to deduct or deducts short TDS on specified payments (sections 194A-194N), the amount shall be disallowed. The question is: how much? The statute is not clear on whether the AO should disallow (A) the entire payment amount, (B) only the TDS shortfall, or (C) a proportionate

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

1. Proportionate Methodology: Section 40(a)(ia) provides that if an assessee tails to deduct or deducts short TDS on specified payments (sections 194A-194N), the amount shall be disallowed. The question is: how much? The statute is not clear on whether the AO should disallow (A) the entire payment amount, (B) only the TDS shortfall, or (C) a proportionate

DCIT CC-2 , FARIDABAD vs. A2Z MAINTENANCE AND ENGINEERING SERVICES LTD., GURGAON

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

A2Z MAINTENANCE & ENGINEERING SERVICES LTD.,GURGAON vs. DCIT, CENTRAL CIRCLE-II, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

DCIT-CENTRAL CIRCLE-2, FARIDABAD vs. A2Z INFRA ENGINEERS LTD., GURGAON

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT CC-2 , FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. CCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

INFRA ENGINEERS LTD.,GURGAON vs. DCIT, CC-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

65 lakh made under Section 132(4) of the Act and incorporated in the ROI. 6. On perusal of the assessment order framed under S. 153A, it is noticed that the Assessing Officer in paragraph 3 of the assessment order has admitted that the disclosure made under Section 132(4) of Rs.65 lakh was duly included in the return

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

1) of the Act proceeded to treat the aforesaid sum of Rs.134.99 crores as unexplained credit under section 68 of the Act. While making the said addition, the NFAC vaguely alleged that the assessee has not filed the requisite details/ documentary evidence to establish the nature and source of credit in the form of share capital, nor it is proved

ASIA SATELLITE TELECOMMUNICATIONS CO. LTD. vs. DIRECTOR OF INCOME TAX

The appeal of the Revenue is dismissed

disallowing provisions thereof would be inapplicable. 23. As regards the levy of interest under Sections 234A and 234B was concerned, the Tribunal held that the appellant would be liable to pay interest under Section 234A. However, with regard to levy of interest under Section 234B, the Tribunal held that if the receipt of income by the appellant was of such

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)

1-4-2013: Provided further that where an assessee fails to deduct the whole or any part of the tax in accordance with the provisions of Chapter XVH-B on any such sum but is not deemed to be an assessee in default under the first proviso to sub-section (I) of section 201, then, for the purpose of this

SHRI VALMIK THAPAR,NEW DELHI vs. DCIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

65,215/- . Assessee further made an investment in construction of a residential unit at 19 Kautilya Marg, New Delhi [As per agreement with the builder] and claimed deduction of Rs 1.70 Crore. He claimed deduction of purchase of these two properties u/s 54 of the act. 13. Further assessee made investment of Rs 50 Lakhs in Rural Electrification Corp capital

SH. VALMIK THAPAR,NEW DELHI vs. ACIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

65,215/- . Assessee further made an investment in construction of a residential unit at 19 Kautilya Marg, New Delhi [As per agreement with the builder] and claimed deduction of Rs 1.70 Crore. He claimed deduction of purchase of these two properties u/s 54 of the act. 13. Further assessee made investment of Rs 50 Lakhs in Rural Electrification Corp capital