GREAT EASTERN EXPORTS vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

transfer, in either case, had been made at the market value of such goods or services as on that date. Explanation.--For the purposes of this sub-section, the expression “market value”,-- (i) in relation to any goods or services sold or supplied, means the price that such goods or services would fetch if these were sold by the undertaking

ACIT, NEW DELHI vs. NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA, NEW DELHI

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

80P(2)(d) of the Act which contained details of dividend received from co-operative societies claimed to be exempt under this section. 14. Invoking provisions of section 14A of the Act and applying Rule 8D of the Rules, the Assessing Officer computed the disallowance at Rs. 1,05,69,459/-. We find that this quarrel was before

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

price of Rs. 150 per piece, whether the loss of Rs. 50 can be said to be allowable where the assessee accounts for only Rs. 100 as sales and not at Rs. 150. In such a situation, the loss will be only a notional loss or the loss of possible benefit but not the loss or liability incurred

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)

transfer pricing adjustment also during the course of assessment proceedings. Consequently, the returned income of the assessee of INR 30 170 320720/– was assessed at INR 70 21138145/– wide order under section 143 (3) of the income tax act wide order dated 28/3/2013. 4. The order of the learned AO was challenged before the learned CIT – A. He passed

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

d) Disallowance u/s 14A - Rs. 49,84,91,810/- (e) Guest House Expenses - Rs. 47,43,236/- (f) Provision for Standard Assets - Rs. 2,94,82,474/- 3. The Id. Assessing Officer has made an addition of a sum of Rs. 10,27,94,88,259/- on account of gains from transfer of long term capital asset being equity shares

PUNJAB NATIONAL BANK,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the revenue is dismissed and the appeal of the assessee is allowed

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumarita No. 2954/Del/2012 : Asstt. Year : 2013-14 Dcit, Vs M/S Punjab National Bank, Circle-20(1), Ho: Finance Division, 5, Sansad New Delhi Marg, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp0165G

transfer of investment, the disallowance under Rule 8D automatically gets reduced as the closing value of the investment reduces. If the contention of the assessee is accepted, then there will be no disallowance in cases where dividend is earned on shares and securities held on short-term basis, which cannot be the intention of the statute

DCIT, NEW DELHI vs. M/S. PUNJAB NATIONAL BANK, NEW DELHI

In the result, the appeal of the revenue is dismissed and the appeal of the assessee is allowed

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumarita No. 2954/Del/2012 : Asstt. Year : 2013-14 Dcit, Vs M/S Punjab National Bank, Circle-20(1), Ho: Finance Division, 5, Sansad New Delhi Marg, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp0165G

transfer of investment, the disallowance under Rule 8D automatically gets reduced as the closing value of the investment reduces. If the contention of the assessee is accepted, then there will be no disallowance in cases where dividend is earned on shares and securities held on short-term basis, which cannot be the intention of the statute