RADIUS INDUSTRIES,NEW DELHI vs. ACIT, CIRCLE-28(1), NEW DELHI

Bench: Shri H.S. Sidhu & Shri O.P. Kanta.Y. : 2015-16

194A of the Act were inapplicable and as such, disallowance so made is not in accordance with law. 3.2 That in any case since the payee had paid the taxes on the interest paid by the assessee, no disallowance was warranted in view of second proviso to section 40(a)(ia) of the Act. 4 That the learned Commissioner

ACIT, CIRCLE-28(1), NEW DELHI vs. RADIUS INDUSTRIES, NEW DELHI

Bench: Shri H.S. Sidhu & Shri O.P. Kanta.Y. : 2015-16

194A of the Act were inapplicable and as such, disallowance so made is not in accordance with law. 3.2 That in any case since the payee had paid the taxes on the interest paid by the assessee, no disallowance was warranted in view of second proviso to section 40(a)(ia) of the Act. 4 That the learned Commissioner

ACIT, MEERUT vs. M/S. PIONEER FABRICATORS PVT. LTD., MEERUT

In the result ground No. 6 of the appeal of the assessee is allowed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiacit, Vs. Pioneer Fabricators Pvt. Ltd, Circle-2, Meerut B-2, Saraswati Industrial Estate, Partapur, Meerut Pan:Aabcp3296R (Appellant) (Respondent) Pioneer Fabricators Pvt. Ltd, Acit, Vs. B-2, Saraswati Industrial Estate, Circle-2, Meerut Pioneer Partapur, Meerut Fabricators Pvt. Ltd, Pan:Aabcp3296R B-2, Saraswati Industrial Estate, Partapur, Meerut Pan:Aabcp3296R (Appellant) (Respondent)

v. The Ld. assessing officer during the year noted that the assessee has unsecured loan of Rs. 10912667/– and assessee was asked to produce the details of unsecured loans along with the confirmation and copy of the transactions etc. Further, the notices under section 133 (6) of the income tax act were also issued to the unsecured loan depositors

ITO, NEW DELHI vs. M/S. PARAGON XT, NEW DELHI

In the result appeal of the revenue is dismissed

Bench: Shri Amit Shukla & Shri L.P. Sahuasstt. Year: 2010-11

68,08,746/- (Rs. 63,97,422 + Rs. 4,11,324/-) 2. Whether the Ld. CIT(A) has erred in deleting addition amounting to Rs. 81,000/- on account of disallowance of accounting charges claimed in Profit & Loss account 3. Whether the Ld. CIT(A) has erred in Restricted disallowance of donation amounting to Rs. 5,000/- in absence

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

194A and stated that TDS was required to be deducted on payments to bank. 66. The said Notification No. 56/2012 dated 31.12.2012 is quoted below: "Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f). In exercise of the powers conferred by sub-section

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

194A and stated that TDS was required to be deducted on payments to bank. 66. The said Notification No. 56/2012 dated 31.12.2012 is quoted below: "Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f). In exercise of the powers conferred by sub-section

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

194A and stated that TDS was required to be deducted on payments to bank. 66. The said Notification No. 56/2012 dated 31.12.2012 is quoted below: "Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f). In exercise of the powers conferred by sub-section

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

194A and stated that TDS was required to be deducted on payments to bank. 66. The said Notification No. 56/2012 dated 31.12.2012 is quoted below: "Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f). In exercise of the powers conferred by sub-section

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

194A and stated that TDS was required to be deducted on payments to bank. 66. The said Notification No. 56/2012 dated 31.12.2012 is quoted below: "Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f). In exercise of the powers conferred by sub-section

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

194A and stated that TDS was required to be deducted on payments to bank. 66. The said Notification No. 56/2012 dated 31.12.2012 is quoted below: "Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f). In exercise of the powers conferred by sub-section

DLF LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Bench: Shri Amit Shukla & Shri L.P. Sahu

194A. In any case, once amount decreed by Arbitral Tribunal, it is a kind of a judgment debt and overrides the provisions of Income Tax Act; and in support, he relied upon the following judgments:- 1. Islamic Investment Co. v. UOI [2004] 265 ITR 254 (Bom.) I.T.A. No.2126 & 2749/DEL/2013 16 2. Madhusudan Shrikrishna v. Emkay Exports [2010] 188 Taxman

DCIT, NEW DELHI vs. M/S. DLF LTD., NEW DELHI

Bench: Shri Amit Shukla & Shri L.P. Sahu

194A. In any case, once amount decreed by Arbitral Tribunal, it is a kind of a judgment debt and overrides the provisions of Income Tax Act; and in support, he relied upon the following judgments:- 1. Islamic Investment Co. v. UOI [2004] 265 ITR 254 (Bom.) I.T.A. No.2126 & 2749/DEL/2013 16 2. Madhusudan Shrikrishna v. Emkay Exports [2010] 188 Taxman

R.N. KHEMKA ENTERPRISES (P) LTD.,DELHI vs. ITO WARD- 20(3), NEW DELHI

In the result, the appeal filed by the assessee is

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2011-12]

section 153C of the Act as per ground of appeal no.2, for which the learned DR has no objection. Therefore, the ground of appeal no. 2 is dismissed as not pressed. 11. Ground of appeal no.8 being general in nature and is dismissed. 12. Ground of appeal nos.1, 3, 3.1 and 4 relate to the validity of reassessment proceedings

GM OVERSEAS,NEW DELHI vs. ACIT CIRCLE-48(1), NEW DELHI

In the result, the appeal filed by the assessee is allowed

68 of the IT Act explaining nature and source of the credits by filing requisite documents proving identity and creditworthiness of the lenders and also to establish genuineness of the transaction during assessment proceedings. 8. The appellant craves leave to add, delete, modify / amend the above grounds of appeal with the permission of the Hon’ble appellate authority

ACIT, NEW DELHI vs. M/S SUBASH DABAS, NEW DELHI

In the result, all the appeals of the Assessees are allowed

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

194A of the Income Tax Act, 1961. Therefore, payment of interest on which TDS was not deduction amounting to Rs. 5,94,317/- was added back to the income of the assessee. On this issue the assessee submission is as under: “total interest payable to M/s Swam Software Ltd. was Rs. 7,48,510/- on which

RAJAT ALLOYS (P) LTD.,GHAZIABAD vs. ITO WARD-21(1), NEW DELHI

In the result, the appeal is allowed

68 of the Act viz. the identity of the lender, creditworthiness and genuineness of transaction. She submitted, to prove the identity of the creditor, the assessee furnished PAN details, 7 ITA No.9087/Del./2019 copy of ITR filed by the lender, copy of ROC master data on the portal of MCA showing the status of the lender as active company

PUNJAB NATIONAL BANK,DELHI vs. DCIT, CIRCLE-19(1), DELHI

In the result, appeal of assessee in ITA No

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

V. Rajakumar, Adv Department By : Shri Jitender Singh, CIT-DR Date of Hearing : 28.08.2025 Date of Pronouncement : 28.08.2025 ORDER PER NAVEEN CHANDRA, AM :- Page 1 of 12 ITA No. 2712 & 3039 /DEL/2024 Punjab National Bank [A.Y 2020-21] Both the above captioned cross appeals by the assessee and the Revenue are directed against the order of the NFAC, New Delhi

DCIT, CIRCLE - 19(1), DELHI vs. PUNJAB NATIONAL BANK, MAHARASHTRA

In the result, appeal of assessee in ITA No

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

V. Rajakumar, Adv Department By : Shri Jitender Singh, CIT-DR Date of Hearing : 28.08.2025 Date of Pronouncement : 28.08.2025 ORDER PER NAVEEN CHANDRA, AM :- Page 1 of 12 ITA No. 2712 & 3039 /DEL/2024 Punjab National Bank [A.Y 2020-21] Both the above captioned cross appeals by the assessee and the Revenue are directed against the order of the NFAC, New Delhi