DDIT, NEW DELHI vs. M/S. CAIRN ENERGY HYDROCARBONS LTD., GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

DCIT, INTL. TAXATION, CIRCLE, GURGAON vs. CAIRN ENERGY HYDROCARBON LTD. , GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

CAIRN ENERGY HYDROCARBON LTD. ,GURGAON vs. DCIT, INTL. TAXATION, CIRCLE, GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

DCIT, INTL. TAXATION, CIRCLE, GURGAON vs. CAIRN ENERGY HYDROCARBON LTD. , GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

CAIRN ENERGY HYDROCARBON LTD. ,GURGAON vs. DCIT, INTL. TAXATION, CIRCLE, GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

CAIRN ENERGY HYDROCARBONS LTD.,GURGAON vs. DDIT, NEW DELHI

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

VENETIAN LDF PROJECTS LLP,GURGAON vs. ACIT CIRCLE-4(1), GURGAON

In the result, grounds raised by the assessee are dismissed

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

House: 139 ITR 182 (P&H) 158 In the facts of the present case, the Pr. CIT, in respect of all the issues, have merely held that further enquiry and examination is required, without even recording as to how the assessment order sought to be revised is erroneous on such issues; no error whatsoever has been pointed out regarding

AMAZON SMART COMMERCE SOLUTIONS PRIVATE LIMITED,DELHI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, DELHI-1, DELHI

In the result, grounds raised by the assessee are dismissed

House: 139 ITR 182 (P&H)\n158 In the facts of the present case, the Pr. CIT, in respect of all the issues, have merely held that further enquiry and examination is required, without even recording as to how the assessment order sought to be revised is erroneous on such issues; no error whatsoever has been pointed out regarding

UNIVERSE HEIGHTS PRIVATE LIMITED,KOLKATA vs. ITO WARD 27(1), NEW DELHI

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

Bench: Dr. B. R. R. Kumarsh. Sudhir Kumarita No. 8125/Del/2019 : Asstt. Year : 2015-16 Universe Heights (India) Pvt. Ltd., Vs Income Tax Officer, 5G/1, Everest 46C, Chowringee Ward-27(1), Road, Kolkata-700071 New Delhi (Appellant) (Respondent) Pan No. Aabcu4605K

Section 40A(2)(a). • The assessee has not furnished any documentary evidences before the AO in respect of the work executed by the CLHPL. • In response to the notices issued by the AO, CLHPL filed only bank statement and ITR and the other queries remained unanswered. • Summons given to the Directors were not complied with. • There was no documentary evidence

ITO WARD-27(1), NEW DELHI vs. UNIVERSAL HEIGHTS (INDIA) PVT. LTD., NEW DELHI

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

Bench: Dr. B. R. R. Kumarsh. Sudhir Kumarita No. 8125/Del/2019 : Asstt. Year : 2015-16 Universe Heights (India) Pvt. Ltd., Vs Income Tax Officer, 5G/1, Everest 46C, Chowringee Ward-27(1), Road, Kolkata-700071 New Delhi (Appellant) (Respondent) Pan No. Aabcu4605K

Section 40A(2)(a). • The assessee has not furnished any documentary evidences before the AO in respect of the work executed by the CLHPL. • In response to the notices issued by the AO, CLHPL filed only bank statement and ITR and the other queries remained unanswered. • Summons given to the Directors were not complied with. • There was no documentary evidence

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

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

40A(2) of the Act. It would be pertinent to point out that similar disallowance made in the immediately preceding two assessment years, viz. AY 2010-11 and 2011-12 was also reversed by the Hon‟ble Tribunal, following the aforementioned order of the Tribunal for assessment years 2007-08 and 2008-09. While deciding the appeal for the assessment

M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

Bench: Shri G.S. Pannu & Before Shri G.S. Pannu & Before Shri G.S. Pannu Before Shri G.S. Pannu & Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble Ms. Suchitra Kamble

b) In not appreciating that without examining the Memorandum of Association (MOA) and its Object Clauses, it is not permissible to arrive at any finding or conclusion that income from unsold flats/office spaces, lying vacant and held as stock-in-trade, is liable to be taxed as income from House property on the basis of the Notional

M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

Bench: Shri G.S. Pannu & Before Shri G.S. Pannu & Before Shri G.S. Pannu Before Shri G.S. Pannu & Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble Ms. Suchitra Kamble

b) In not appreciating that without examining the Memorandum of Association (MOA) and its Object Clauses, it is not permissible to arrive at any finding or conclusion that income from unsold flats/office spaces, lying vacant and held as stock-in-trade, is liable to be taxed as income from House property on the basis of the Notional

M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

Bench: Shri G.S. Pannu & Before Shri G.S. Pannu & Before Shri G.S. Pannu Before Shri G.S. Pannu & Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble Ms. Suchitra Kamble

b) In not appreciating that without examining the Memorandum of Association (MOA) and its Object Clauses, it is not permissible to arrive at any finding or conclusion that income from unsold flats/office spaces, lying vacant and held as stock-in-trade, is liable to be taxed as income from House property on the basis of the Notional

AJAY ENTERPRISES PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

Appeal is dismissed and appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

properties in view of “sub-prime crisis” in USA and because of global recession. It was further explained that most of the large corporate houses postponed their proposed acquisitions and suddenly the availability of space in the real estate market exceeded than the demand due to which there was sudden and uncontrollable crash in the market prices. It was further

DCIT, NEW DELHI vs. M/S AJAY ENTERPRISES PVT. LTD., NEW DELHI

Appeal is dismissed and appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

properties in view of “sub-prime crisis” in USA and because of global recession. It was further explained that most of the large corporate houses postponed their proposed acquisitions and suddenly the availability of space in the real estate market exceeded than the demand due to which there was sudden and uncontrollable crash in the market prices. It was further

DCIT, NEW DELHI vs. M/S AJAY ENTERPRISES PVT. LTD.,, NEW DELHI

Appeal is dismissed and appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

properties in view of “sub-prime crisis” in USA and because of global recession. It was further explained that most of the large corporate houses postponed their proposed acquisitions and suddenly the availability of space in the real estate market exceeded than the demand due to which there was sudden and uncontrollable crash in the market prices. It was further