CA COOPERATIVE THRIFT & CREDIT SOCIETY LIMITED ,DELHI vs. PCIT, DELHI-20, DELHI

In the result the appeal of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

2,87,90,915/- in A.Y 2015-16 after making addition u/s 68 of the Act. 5. Assuming jurisdiction conferred upon him by provisions of section 263 of the Act, the PCIT issued a show cause notice holding that the assessment order dated 24.12.2019 is not only erroneous but also prejudicial to the interest of the revenue

CA COOPERATIVE THRIFT & CREDIT SOCIETY LTD,DELHI vs. PCIT, DELHI

In the result the appeal of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

2,87,90,915/- in A.Y 2015-16 after making addition u/s 68 of the Act. 5. Assuming jurisdiction conferred upon him by provisions of section 263 of the Act, the PCIT issued a show cause notice holding that the assessment order dated 24.12.2019 is not only erroneous but also prejudicial to the interest of the revenue

NTT DATA GLOBAL DELIVERY SERVICES LTD.,BANGALORE vs. DCIT, NEW DELHI

The appeal of the assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishintt Data Global Delivery Vs. Dcit, Services Ltd, Circle-13(1), No. 17, South End Road, New Delhi Bangalore Pan: Aabck7777J (Appellant) (Respondent)

68,037/- on the Short Term Deposits made by it to the tune of Rs. 6,46,88,606/- out of its Surplus Funds temporarily parked in the Current Account held in Citi Bank, Hong Kong and also earned interest of Rs. 6,02,309/- from the Advances of loans to its staff members. The deduction in respect of both

M/S. RELIGARE SECURITIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee stands allowed in terms of our directions contained in the preceding

Bench: Shri N.K. Billaiya & Shri Sudhanshu Srivastavaasstt. Year: 2008-09

68,020/- which was subsequently revised declaring total income of Rs. 1,21,16,08,860/-. Return of income was initially processed u/s 143(1) of the Income Tax Act, 1961 (hereinafter called ‘the Act’) and was later selected for scrutiny under CASS. The assessment was completed at an income of Rs. 1,36,67,12,228/- after, inter alia

DIVYA CREATION,NOIDA vs. PR.CIT, NOIDA

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2013-14 M/S. Divya Creation, Vs. Pr. Cit, Plot No. 97, Nsez, Noida Aayakar Bhawan, A2 D- Block, Sector 24, Noida Pan :Aadfd4879K (Appellant) (Respondent)

68,296/- earned on various FDR’s is concerned, the Ld. DR submitted that the Ld. CIT pointed out to the assessee that interest income earned on surplus fund parked or interest income earned on FDRs for availing credit cannot be said to be derived from business of export in view of the decision in the case of CIT versus

ACIT, MEERUT vs. M/S. SARVA UP GRAMIN BANK, MEERUT

In the result, the appeal of the Revenue is dismissed

Bench: Sh. Bhavnesh Saini & Dr. B. R. R. Kumar

80P" The object of the substitution, as explained in para 5 of the CBDT Circular No. 464, dt. 18th July, 1986, was to give the separate deduction, viz., one in respect of rural advances and the other for provision for bad and doubtful debts in general and also to extend the benefit of deduction to all banks including foreign banks

ADDL.CIT, SPECIAL RANGE-3, NEW DELHI vs. DELHI TOURISM TRANSPORTATION AND DEVELOPMENT CORPORATION LTD., NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

80P(2)(a)(i) of the Act on merit as well, as discussed above. This reasoned finding of CIT(A) needs no interference from our side. We uphold the same 15.9 Hon'ble Delhi High Court in the case of CIT vs. Contimeters Electricals (P.) Ltd. [(2009) 178 TAXMAN 422], taken a view regarding the non-filing of Form 10CCB

ADDL.CIT, SPECIAL RANGE-3, NEW DELHI vs. DELHI TOURISM TRANSPORTATION AND DEVELOPMENT CORPORATION LTD., NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

80P(2)(a)(i) of the Act on merit as well, as discussed above. This reasoned finding of CIT(A) needs no interference from our side. We uphold the same 15.9 Hon'ble Delhi High Court in the case of CIT vs. Contimeters Electricals (P.) Ltd. [(2009) 178 TAXMAN 422], taken a view regarding the non-filing of Form 10CCB

DELHI TOURISM & TRANSPORTATION DEVELOPMENT CORPORATION LTD. ,NEW DELHI vs. DCIT CIRCLE-10(1), NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

80P(2)(a)(i) of the Act on merit as well, as discussed above. This reasoned finding of CIT(A) needs no interference from our side. We uphold the same 15.9 Hon'ble Delhi High Court in the case of CIT vs. Contimeters Electricals (P.) Ltd. [(2009) 178 TAXMAN 422], taken a view regarding the non-filing of Form 10CCB

DELHI TOURISM TRANSPORTATION AND DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE-3, NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

80P(2)(a)(i) of the Act on merit as well, as discussed above. This reasoned finding of CIT(A) needs no interference from our side. We uphold the same 15.9 Hon'ble Delhi High Court in the case of CIT vs. Contimeters Electricals (P.) Ltd. [(2009) 178 TAXMAN 422], taken a view regarding the non-filing of Form 10CCB

ADDI. CIT SPL. RANGE-3, NEW DELHI vs. DELHI TOURISM & TRANSPORTATION DEVELOPMENT CORPORATION LTD. , NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

80P(2)(a)(i) of the Act on merit as well, as discussed above. This reasoned finding of CIT(A) needs no interference from our side. We uphold the same 15.9 Hon'ble Delhi High Court in the case of CIT vs. Contimeters Electricals (P.) Ltd. [(2009) 178 TAXMAN 422], taken a view regarding the non-filing of Form 10CCB

ADDL.CIT, SPECIAL RANGE-3, NEW DELHI vs. DELHI TOURISM TRANSPORTATION AND DEVELOPMENT CORPORATION LTD., NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

80P(2)(a)(i) of the Act on merit as well, as discussed above. This reasoned finding of CIT(A) needs no interference from our side. We uphold the same 15.9 Hon'ble Delhi High Court in the case of CIT vs. Contimeters Electricals (P.) Ltd. [(2009) 178 TAXMAN 422], taken a view regarding the non-filing of Form 10CCB

ACIT SPECIAL RANGE-3, NEW DELHI vs. DELHI TOURISM & TRANSPORTATION DEVELOPMENT CORPORATION LTD., NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

80P(2)(a)(i) of the Act on merit as well, as discussed above. This reasoned finding of CIT(A) needs no interference from our side. We uphold the same 15.9 Hon'ble Delhi High Court in the case of CIT vs. Contimeters Electricals (P.) Ltd. [(2009) 178 TAXMAN 422], taken a view regarding the non-filing of Form 10CCB

COOPERATIVE CANE DEVELOPMENT SOCIETY LTD MORNA,MORNA MUZAFFARNAGAR vs. AO NFAC DELHI, NFAC DELHI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2020-21 Cooperative Cane Vs. Assessing Officer, Development Society Ltd., Nfac, Delhi Morna, District Muzaffarnagar, Uttar Pradesh Pan: Aaefc0580D (Appellant) (Respondent)

68 and the Hon'ble Kolkata High Court in the case of CIT Vs. Southern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eligible for exemption u/s.80P(2

M/S THE ORIENTAL INSSURANCE CO.LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmam/S. The Oriental Insurance Co. Ltd, Vs. The Dcit, A 25/27, Asaf Ali Road, Ltu, New Delhi New Delhi-110002 (Appellant) (Respondent) Pan: Aaact0627R

68,13,01,144/- u/s. 115 JB of the Act. The assessee claimed that ld Assessing Officer ought to have not applied the provisions of Section 115 JB of the Income Tax Act, 1961 for levy of Minimum Alternate Tax as the appellant being an insurance company, the computation of its profits and gains of business are governed

NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA,NEW DELHI vs. ACIT CIRCLE-32(1), NEW DELHI

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

2,500/- iv. Disallowance of fixed asset written off Rs. 1,360/- v. Disallowance of speculative loss Rs. 8,43,27,778/- vi. Disallowance of misc. services purchased Rs.1,74,13,753/- vii. Disallowance of proportionate interest U/s 36/37 Rs 18,01,74,500/- viii. Disallowance U/s 43B as discussed above Rs. 99,50,659/- ix. Disallowance

ACIT CIRCLE-54(1), NEW DELHI vs. NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA, NEW DELHI

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

2,500/- iv. Disallowance of fixed asset written off Rs. 1,360/- v. Disallowance of speculative loss Rs. 8,43,27,778/- vi. Disallowance of misc. services purchased Rs.1,74,13,753/- vii. Disallowance of proportionate interest U/s 36/37 Rs 18,01,74,500/- viii. Disallowance U/s 43B as discussed above Rs. 99,50,659/- ix. Disallowance

ACIT CIRCLE-54(1), NEW DELHI vs. NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA, NEW DELHI

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

2,500/- iv. Disallowance of fixed asset written off Rs. 1,360/- v. Disallowance of speculative loss Rs. 8,43,27,778/- vi. Disallowance of misc. services purchased Rs.1,74,13,753/- vii. Disallowance of proportionate interest U/s 36/37 Rs 18,01,74,500/- viii. Disallowance U/s 43B as discussed above Rs. 99,50,659/- ix. Disallowance