ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

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

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

iii) of Income tax Rules 1962.” 7. Apart from the above, assessee’s own case in its favour. It is further submitted that the Hon’ble Supreme Court in the case of South Indian Bank vs. CIT(2021) 112 CCH 00051 (SC) has held as under: “25. Proceeding now to another aspect, it is seen that the Central Board

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

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

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

iii) of Income tax Rules 1962.” 7. Apart from the above, assessee’s own case in its favour. It is further submitted that the Hon’ble Supreme Court in the case of South Indian Bank vs. CIT(2021) 112 CCH 00051 (SC) has held as under: “25. Proceeding now to another aspect, it is seen that the Central Board

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

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

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

iii) of Income tax Rules 1962.” 7. Apart from the above, assessee’s own case in its favour. It is further submitted that the Hon’ble Supreme Court in the case of South Indian Bank vs. CIT(2021) 112 CCH 00051 (SC) has held as under: “25. Proceeding now to another aspect, it is seen that the Central Board

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

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

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

iii) of Income tax Rules 1962.” 7. Apart from the above, assessee’s own case in its favour. It is further submitted that the Hon’ble Supreme Court in the case of South Indian Bank vs. CIT(2021) 112 CCH 00051 (SC) has held as under: “25. Proceeding now to another aspect, it is seen that the Central Board

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, CIRCLE- 19(1), NEW DELHI

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

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

iii) of Income tax Rules 1962.” 7. Apart from the above, assessee’s own case in its favour. It is further submitted that the Hon’ble Supreme Court in the case of South Indian Bank vs. CIT(2021) 112 CCH 00051 (SC) has held as under: “25. Proceeding now to another aspect, it is seen that the Central Board

ACIT, CIRCLE- 19(1), NEW DELHI vs. ORIENTAL BANK OF COMMERCE, GURGAON

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

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

iii) of Income tax Rules 1962.” 7. Apart from the above, assessee’s own case in its favour. It is further submitted that the Hon’ble Supreme Court in the case of South Indian Bank vs. CIT(2021) 112 CCH 00051 (SC) has held as under: “25. Proceeding now to another aspect, it is seen that the Central Board

PRAGATI POWER CORPORATION LTD,NEW DELHI vs. ACIT, CIRCLE 20(1), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed as indicated above

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

transferred. Even the Ld. Assessing Officer has not pointed out any item which had not been used on the date on which, it was acquired. iii) During the assessment proceeding itself, assessee had pointed out that the expenditure had been incurred out of internal accruals. The cash flow statement was also produced before the Assessing Officer, which is as under

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

The appeals are allowed in the above terms, but with no orders as to costs

36 of 45 AMP expenditure is concerned. The Court finds considerable merit in the contention of the Assessee that the only TP adjustment authorised and permitted by Chapter X is the substitution of the ALP for the transaction price or the contract price. It bears repetition that each of the methods specified in S.92C (1) is a price discovery method

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

The appeals are allowed in the above terms, but with no orders as to costs

36 of 45 AMP expenditure is concerned. The Court finds considerable merit in the contention of the Assessee that the only TP adjustment authorised and permitted by Chapter X is the substitution of the ALP for the transaction price or the contract price. It bears repetition that each of the methods specified in S.92C (1) is a price discovery method

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

iii) where the assessee— (a) has furnished his return of income under section 139 or in response to a notice issued under sub-section (1) of section 142 or under sub-section (1) of section 148, and a notice under sub- section (2) of section 143 has been issued by the Assessing Officer or the prescribed income-tax authority

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-25(1), NEW DELHI, DELHI vs. TECHNO TREXIM INDIA PVT. LTD., DELHI

In the result, appeal filed by the assessee is dismissed

36(1)(iii) or section 37 of the Act.\nb. The view taken by the AO during the year under consideration is against the\nprinciples of consistency. Even when the impugned assessment order was passed\non 28-12-2018 that was never relied upon either before the CIT(A) in respect of\nAY 2015-16 when CIT(A) passed order

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, SPL. RANGE-07, NEW DELHI

In the result, the appeal filed by the Assessee stands allowed

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2016-17

36(1 )(vii). The disallowance made is wrong and bad in law and the claim of bad debt should be allowed as complete details of all loan accounts were furnished and the condition of write off is duly satisfied by the appellant. 6. The AO as well as CIT(A) has erred in law and on facts in applying

TECHNO TREXIM (INDIA) PRIVATE LIMITED,NEW DELHI vs. ACIT, CIRCLE- 25(1), DELHI, DELHI

In the result, appeal filed by the assessee is dismissed

36(1)(iii) or section 37 of the Act.\nb. The view taken by the AO during the year under consideration is against the\nprinciples of consistency. Even when the impugned assessment order was passed\non 28-12-2018 that was never relied upon either before the CIT(A) in respect of\nAY 2015-16 when CIT(A) passed order

KUNSHAN Q TECH MICROELECTRONICS (INDIA) PVT. LTD.,UTTAR PRADESH vs. DCIT, CENTRAL CIRCLE-30, DELHI

pricing adjustment particularly when all the requisite details & documents were placed before the authorities with regard to purchase of capital assets and hence, the entire erroneous addition needs to be deleted.\n13. That on the facts, law and in the circumstances of the case, the Ld. AO as well as the Ld. DRP has erred in law in making addition

THOMSON PRESS (INDIA) LTD. vs. COMMISSIONER OF INCOME TAX-II

36. Indisputably, the interest credited by the Assessee in the books of its eligible undertaking is not earned from its business but is only a notional credit in the books on the surplus as generated by the eligible undertaking. Mr Aggarwal had sought to contest the above position by arguing that the CIT had not held the interest credited

THOMSON PRESS (INDIA) LTD. vs. COMMISSIONER OF INCOME TAX-II

36. Indisputably, the interest credited by the Assessee in the books of its eligible undertaking is not earned from its business but is only a notional credit in the books on the surplus as generated by the eligible undertaking. Mr Aggarwal had sought to contest the above position by arguing that the CIT had not held the interest credited

THOMSON PRESS (INDIA) LTD vs. COMMISSIONER OF INCOME TAX-II

36. Indisputably, the interest credited by the Assessee in the books of its eligible undertaking is not earned from its business but is only a notional credit in the books on the surplus as generated by the eligible undertaking. Mr Aggarwal had sought to contest the above position by arguing that the CIT had not held the interest credited

THOMSON PRESS (INDIA) LTD vs. COMMISSIONER OF INCOME TAX-II

36. Indisputably, the interest credited by the Assessee in the books of its eligible undertaking is not earned from its business but is only a notional credit in the books on the surplus as generated by the eligible undertaking. Mr Aggarwal had sought to contest the above position by arguing that the CIT had not held the interest credited