DEPUTY COMMISSIONER OF INCOME-TAX vs. BAJAJ FINANCE LTD., (FORMERLY: BAJAJ AUTO FINANCE LTD.,),, PUNE

In the result, appeal of Revenue and Cross Objections of assessee are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.356/Pun/2016 यििाारण वषा / Assessment Year : 2009-10

253 (Del), wherein the Hon’ble High Court held that if in any particular transaction, deductees were not ascertainable, TDS provision may not be enforced. Further, reference was made to the decision of Pune Bench of Tribunal in Kirloskar Oil Engines Ltd. Vs. DCIT (supra), wherein on similar facts, penalty levied under section 271C of the Act was deleted. Hence

DEPUTY COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. KSH INTERNATIONAL PVT.LTD,, PUNE

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

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1242/Pun/2017 यििाारण वषा / Assessment Year : 2013-14 The Dy. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle 9, Pune …. Vs. M/S. Ksh International Pvt. Ltd., Gat No.11/3, 11/4, Vill-Birdewadi, Chakan, …. प्रत्यथी / Respondent Tal-Khed, Pune – 410501 Pan:Aaacb1897K

4 M/s. KSH International Pvt. Ltd. & Ors then mandatory provisions of Rule 8D of the Rules are to be applied. He worked out the disallowance at ₹ 75,15,975/-. 6. The CIT(A) accepted the plea of assessee that where it had not earned any exempt income during the year, then no disallowance under section

M/S. NYATI BUILDERS PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

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

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1242/Pun/2017 यििाारण वषा / Assessment Year : 2013-14 The Dy. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle 9, Pune …. Vs. M/S. Ksh International Pvt. Ltd., Gat No.11/3, 11/4, Vill-Birdewadi, Chakan, …. प्रत्यथी / Respondent Tal-Khed, Pune – 410501 Pan:Aaacb1897K

4 M/s. KSH International Pvt. Ltd. & Ors then mandatory provisions of Rule 8D of the Rules are to be applied. He worked out the disallowance at ₹ 75,15,975/-. 6. The CIT(A) accepted the plea of assessee that where it had not earned any exempt income during the year, then no disallowance under section

MAGARPATTA TOWNSHIP DEVELOPMENT & CONSTRUCTION CO. LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

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

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1242/Pun/2017 यििाारण वषा / Assessment Year : 2013-14 The Dy. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle 9, Pune …. Vs. M/S. Ksh International Pvt. Ltd., Gat No.11/3, 11/4, Vill-Birdewadi, Chakan, …. प्रत्यथी / Respondent Tal-Khed, Pune – 410501 Pan:Aaacb1897K

4 M/s. KSH International Pvt. Ltd. & Ors then mandatory provisions of Rule 8D of the Rules are to be applied. He worked out the disallowance at ₹ 75,15,975/-. 6. The CIT(A) accepted the plea of assessee that where it had not earned any exempt income during the year, then no disallowance under section

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

BAJAJ FINANCE LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

disallowance for the earlier assessment years which were on the ground that the assessee which was following the mercantile system of banking had to pay tax on interest on accrual basis. 3.2 The issue eventually reached the Tribunal. The Tribunal, by the impugned judgment, allowed the assessee's claim, upon which, the Revenue has filed this appeal. 4. Learned counsel

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE vs. M/S. BAJAJ FINANCE LTD,, PUNE

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

disallowance for the earlier assessment years which were on the ground that the assessee which was following the mercantile system of banking had to pay tax on interest on accrual basis. 3.2 The issue eventually reached the Tribunal. The Tribunal, by the impugned judgment, allowed the assessee's claim, upon which, the Revenue has filed this appeal. 4. Learned counsel

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE vs. M/S. BAJAJ FINANACE LTD,, PUNE

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

disallowance for the earlier assessment years which were on the ground that the assessee which was following the mercantile system of banking had to pay tax on interest on accrual basis. 3.2 The issue eventually reached the Tribunal. The Tribunal, by the impugned judgment, allowed the assessee's claim, upon which, the Revenue has filed this appeal. 4. Learned counsel

BAJAJ FINANCE LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

disallowance for the earlier assessment years which were on the ground that the assessee which was following the mercantile system of banking had to pay tax on interest on accrual basis. 3.2 The issue eventually reached the Tribunal. The Tribunal, by the impugned judgment, allowed the assessee's claim, upon which, the Revenue has filed this appeal. 4. Learned counsel

BAJAJ FINANCE LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

disallowance for the earlier assessment years which were on the ground that the assessee which was following the mercantile system of banking had to pay tax on interest on accrual basis. 3.2 The issue eventually reached the Tribunal. The Tribunal, by the impugned judgment, allowed the assessee's claim, upon which, the Revenue has filed this appeal. 4. Learned counsel