M/S. A K CAPITAL MARKETS LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

Bench: Sh. N. K. Sainiita No. 6859/Del/2014 : Asstt. Year : 2006-07 A. K. Capital Markets Ltd., Vs Dcit, Central Circle-2, 609, 6Th Floor, Antriksh Bhawan, 22, New Delhi Kasturba Gandhi Marg, Connaught Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aadca9960D Assessee By : Sh. Ved Jain, Adv. Revenue By : Sh. Sarabhjit Singh, Dr Date Of Hearing : 16.09.2015 Date Of Pronouncement : 04.12.2015 Order

disallowed for being speculative as no delivery takes place in Future and Options/Derivatives as such loss was not admissible in view of the provisions of Section 43(5) and 73

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

73,658 pertaining to prior period. Details enclosed at page no. 96 of PB on Merits. AO: In the assessment order, the assessing officer has disallowed the aforesaid expenses, on the ground that same pertained to prior period and are not allowable revenue expenditure against income of the relevant year. CIT(A): The CIT(A) deleted the disallowance made

SUCON INDIA LTD.,FARIDABAD vs. DCIT, CIRCLE- II, FARIDABAD

In the result, appeal by the assessee stands allowed

Section 73. Thus, disallowance of amount of Rs.2,58,72,839/- in Assessment Year 2015-16 and Rs.55,96,812/- in Assessment

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

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

section 80IC, on a rational and scientific basis. In that view of the matter, the expenses on brand /advertisement, etc. incurred at Head Office were duly allocated to manufacturing units and have been deducted, while computing profits of the unit eligible for claim of deduction under section 80IC of the Act. The price realized on sale of the products

M/S SUCON INDIA LTD.,,FARIDABAD vs. ACIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2009-10 Vs. Acit, Circle-Ii, New Delhi M/S. Sucon India Ltd., B-532, Nehru Ground Nit, Faridabad Pan : Aagcs9603L (Appellant) (Respondent) Appellant By Dr. Rakesh Gupta & Sh. Amit Kumar, Advocates Respondent By Sh. S.S. Rana, Cit(Dr) Date Of Hearing 29.11.2016 Date Of Pronouncement 18.01.2017 Order Per O.P. Kant, A.M.:

section 73 are specific and relevant for the limited purpose of setoff of the business. In view of the observations, the Assessing Officer disallowed

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

disallowed on the ground of the same being contingent in nature. He further submitted that similar provision for increase in prices as at the end of the year was accepted and allowed in Hero MotoCorp Limited Vs. JCIT & DCIT Vs. Hero MotoCorp Ltd. ITA Nos. 1545/Del/2015 and 2424/Del/2015 (AY 2010-11) ITA No. 1609/Del/2016 and 914/Del/2016 (AY 2011-12) Page

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)

73,862 on account of interest on non-convertible debentures (NCDs). Whereas, it has only considered a part of such interest cost for the purpose of disallowance under Section

ASIA SUGAR INDUSTRIES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee is dismissed

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2011-12 M/S. Asia Sugar Industries Vs. Acit, Pvt. Ltd., Central Circle-5, New Delhi 6-B, Jor Bagh Lane, New Delhi Pan :Aaaca2286D (Appellant) (Respondent)

73 of the Act, the assessee company was liable to be treated as carrying on speculation business to the extent to which the business consist of purchase and sale of shares/derivatives. The Ld. CIT(A) issued a show cause notice under section 251(2), proposing as why the loss from speculation business should not be disallowed

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.49,73,520/- under section 14A of the Act by erroneously holding that the appellant cannot earn dividend

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

73 (Mum.)] In view thereof, the Ld. AR submitted that the provision for increase in price of material being an ascertained liability made on an actual and scientific basis for the reasons submitted above would also be allowable while computing book profits under section 115.1 B of the Act. 22. The Ld. DR relied upon the Assessment Order and order

NIIT TECHNOLOGIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section 14A of the Act, which include disallowance of Rs.37,33,490/- towards indirect ITA Nos. 5524 & 5525/Del/2013 interest expenditure and ₹ 44,71,541/- towards administrative expenses. 5.1 The facts qua the issue in dispute that during the year under consideration, the assessee shown investment in mutual funds at ₹ 144,42,73

ACIT, NEW DELHI vs. M/S NIIT TECHNOLOGIES LTD.,, NEW DELHI

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section 14A of the Act, which include disallowance of Rs.37,33,490/- towards indirect ITA Nos. 5524 & 5525/Del/2013 interest expenditure and ₹ 44,71,541/- towards administrative expenses. 5.1 The facts qua the issue in dispute that during the year under consideration, the assessee shown investment in mutual funds at ₹ 144,42,73

NIIT TECHNOLOGIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section 14A of the Act, which include disallowance of Rs.37,33,490/- towards indirect ITA Nos. 5524 & 5525/Del/2013 interest expenditure and ₹ 44,71,541/- towards administrative expenses. 5.1 The facts qua the issue in dispute that during the year under consideration, the assessee shown investment in mutual funds at ₹ 144,42,73

ACIT, NEW DELHI vs. M/S NIIT TECHNOLOGIES LTD.,, NEW DELHI

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section 14A of the Act, which include disallowance of Rs.37,33,490/- towards indirect ITA Nos. 5524 & 5525/Del/2013 interest expenditure and ₹ 44,71,541/- towards administrative expenses. 5.1 The facts qua the issue in dispute that during the year under consideration, the assessee shown investment in mutual funds at ₹ 144,42,73

M/S STYLISH CONSTRUCTION PVT. LTD. vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishistylish Construction Pvt. Ltd, Dcit, 1027, Top Floor, Ward No. 8, Circle-9(1), Vs. Mehra Chowk, Mehrauli New Delhi Pan: Aaics4664H (Appellant) (Respondent)

disallowed by the ld AO as sham transaction and which is upheld by the ld CIT (A) not as a sham loss but as speculation loss applying explanation to section 73

ACIT, CENTRAL CIRCLE- 27, NEW DELHI vs. UFLEX LTD., NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73

UFLEX LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 27, NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73

UFLEX LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 27, NEW DELHI

In the result, appeals of the assessee for AY 2011-12 and subsequent

Bench: N.K. Billaiya & Ms. Astha Chandra

disallowance under section 14A and 115JB of the Act and decide Ground No. 1, 2 and 3 of the assessee’s appeal in its favour. 23. Ground No. 4 of the assessee’s appeal relates to denial of reduction of refund claim of excise duty (CENVAT) of Rs. 7,82,73