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

disallowing this claim. Therefore, Ground No. 18 to 18.2 are allowed in favour of the assessee.” From the records it can be seen that the provision for the material is worked out in respect of price amendments which were already issued on 31.03.2009 which was made on the basis of actual supplied made upto the end of the year

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

disallowed the expenditure claimed stating it was not incurred wholly and exclusively for the purpose of business of the assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

disallowed the expenditure claimed stating it was not incurred wholly and exclusively for the purpose of business of the assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

disallowed the expenditure claimed stating it was not incurred wholly and exclusively for the purpose of business of the assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

disallowed the expenditure claimed stating it was not incurred wholly and exclusively for the purpose of business of the assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

disallowed the expenditure claimed stating it was not incurred wholly and exclusively for the purpose of business of the assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

disallowed the expenditure claimed stating it was not incurred wholly and exclusively for the purpose of business of the assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company

TRIVENI ENGINEERING & INDUSTRIES LTD.,NOIDA vs. ACIT, NEW DELHI

Bench: Shri R. K. Panda & Ms Suchitra Kamble

801/-, which was set-off against available brought forward losses / allowances. Long term capital loss of Rs. 1,27,04,048/- for the year as claimed by the assessee was allowed to be carried forward to subsequent years in accordance with the provisions of Section 74 of the Income Tax Act, 1961. The book profits in terms of Section 115JB

TRIVENI ENGINEERING & INDUSTRIES LTD.,NOIDA vs. ACIT, NEW DELHI

Bench: Shri R. K. Panda & Ms Suchitra Kamble

801/-, which was set-off against available brought forward losses / allowances. Long term capital loss of Rs. 1,27,04,048/- for the year as claimed by the assessee was allowed to be carried forward to subsequent years in accordance with the provisions of Section 74 of the Income Tax Act, 1961. The book profits in terms of Section 115JB

TRIVENI ENGINEERING & INDUSTRIES LTD.,NOIDA vs. ADDL. CIT, NEW DELHI

Bench: Shri R. K. Panda & Ms Suchitra Kamble

801/-, which was set-off against available brought forward losses / allowances. Long term capital loss of Rs. 1,27,04,048/- for the year as claimed by the assessee was allowed to be carried forward to subsequent years in accordance with the provisions of Section 74 of the Income Tax Act, 1961. The book profits in terms of Section 115JB

TRIVENI ENGINEERING & INDUSTRIES LTD.,NOIDA vs. ACIT, NEW DELHI

Bench: Shri R. K. Panda & Ms Suchitra Kamble

801/-, which was set-off against available brought forward losses / allowances. Long term capital loss of Rs. 1,27,04,048/- for the year as claimed by the assessee was allowed to be carried forward to subsequent years in accordance with the provisions of Section 74 of the Income Tax Act, 1961. The book profits in terms of Section 115JB

TRIVENI ENGINEERING & INDUSTRIES LTD.,NOIDA vs. ACIT, NEW DELHI

Bench: Shri R. K. Panda & Ms Suchitra Kamble

801/-, which was set-off against available brought forward losses / allowances. Long term capital loss of Rs. 1,27,04,048/- for the year as claimed by the assessee was allowed to be carried forward to subsequent years in accordance with the provisions of Section 74 of the Income Tax Act, 1961. The book profits in terms of Section 115JB

FLYING FABRICATION,NEW DELHI vs. ITO,WARD 1(4), GURGAON

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

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2017-18 M/S. Flying Fabrication, Vs. Income Tax Officer, The Tax Chambers Advocates Ward-1(4) & Legal Advisors, C-177, Gurgaon Defence Colony, Lgf, New Delhi Pan :Aadff9825H (Appellant) (Respondent)

disallowance of deduction claimed of Rs.87,92,801/- representing delayed payment of employees’ contribution to Provident Fund (PF) and Employees State Insurance (ESI). 4. There is no dispute that the assessee has paid/remitted the employees’ contribution to PF and ESI before the due date of filing of return of income under section

DIRECTOR OF INCO:ME-TAX-I vs. JC BAMFORD EXCAVATORS LIMITED,

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MS. JUSTICE DEEPA SHARMA

801,382,848 9,120,631,305 Average Value 10,461,007,077 W.P.(C) 480/2016 & W.P.(C) 526/2016 Page 5 of 15 Total disallowance Total Expenses Less: Interest Expenses to earn Interest Income Less: Expenses for Consultancy Less: Expenses which is disallowed as per Provisions of PGBP Donation 50,000 Provision for diminution in the value of Investment

DCIT (LTU), NEW DELHI vs. M/S. GAIL (INDIA) LTD., NEW DELHI

In the result the appeal filed by the revenue is dismissed and the appeal filed by the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Madhumita Royasstt. Year 1997-98

801 & 801A in the initial assessment year 1992-93. 2. That on the facts and circumstances of the case and in law, the CIT(A) erred in holding that no deduction under section 80HH of the Act was admissible in respect of the customer terminals situated in backward areas, on the ground that “no manufacturing is carried

M/S. GAIL (INDIA) LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result the appeal filed by the revenue is dismissed and the appeal filed by the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Madhumita Royasstt. Year 1997-98

801 & 801A in the initial assessment year 1992-93. 2. That on the facts and circumstances of the case and in law, the CIT(A) erred in holding that no deduction under section 80HH of the Act was admissible in respect of the customer terminals situated in backward areas, on the ground that “no manufacturing is carried

M/S. KEI INDUSTRIES LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, Ground No.3

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

801/- was utilized towards capital expenditure in the assessment year 2010-11. Balance sheet of the Appellant for the financial years 2006-07, 2008-09 & 2009-10 (printed) are at vases 54. 55 & 56 of the paper book. 10. It is submitted that there is no dispute as to the facts leading to repurchase of FCCBs

ACIT, NEW DELHI vs. M/S. K.E.I. INDUSTRIES LTD., NEW DELHI

In the result, Ground No.3

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

801/- was utilized towards capital expenditure in the assessment year 2010-11. Balance sheet of the Appellant for the financial years 2006-07, 2008-09 & 2009-10 (printed) are at vases 54. 55 & 56 of the paper book. 10. It is submitted that there is no dispute as to the facts leading to repurchase of FCCBs

ERADICATUS INFECTUS PRIVATE LIMITED,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, NEW DELHI

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

disallowance of Rs. 3,56,22,484/- on the alleged ground that Form 10CCB is not filed or filed within due date or extended due date for AY 2023-24. Without appreciating the fact that Form 10CCB has been prescribed for claiming deduction under section 801