Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« From the Courts »
Open DEMAT Account in 24 hrs
 Karnataka High Court restrains Bengaluru-based Institute of Chartered Tax Practitioners India from enrolling candidates for its courses
 Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate
 Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court
 Inordinate delay in income tax appeal hearings
 Income Tax leviable on Tuition Fee in the Year of Rendering of Services: ITAT
 Supreme Court invoked its power under Article 142 of Constitution to validate notices issued under section 148 as notices issued under section 148A. However the same shall be subject to amended provisions of section 149.
 ITAT refuses to stay tax demand on former owner of Raw Pressery brand
 Bombay HC sets aside rejection of refund claims by GST authorities
 [Income Tax Act] Faceless Assessment Scheme does not take away right to personal hearing: Delhi High Court
 Rajasthan High Court directs GST Authority to Unblock Input Tax Credit availed in Electronic Credit Ledger
 Sebi-taxman fight over service tax dues reaches Supreme Court

ACIT, Circle-12(1), New Delhi. Vs. Holcim India Pvt. Ltd., Suite No.304, 3rd Floor, DLF South Court, New Delhi.
October, 07th 2015
       IN THE INCOME TAX APPELLATE TRIBUNAL
           DELHI BENCH : SMC-I : NEW DELHI

     BEFORE SHRI R.S. SYAL, ACCOUNTANT MEMBER
                       ITA No.4509/Del/2014
                      Assessment Year : 2010-11

ACIT,                              Vs.   Holcim India Pvt. Ltd.,
Circle-12(1),                            Suite No.304, 3rd Floor,
New Delhi.                               DLF South Court,
                                         New Delhi.
                                         PAN: AABCH3635C


      (Appellant)                           (Respondent)

           Appellant by : Shri R.S. Singhvi, CA
           Respondent by: Shri S.L. Anuragi, Sr.DR

           Date of Hearing      : 01.10.2015
           Date of Pronouncement: 06.10.2015

                                ORDER


      This appeal by the Revenue is directed against the order passed by

the CIT(A) on 30.5.2014 in relation to the Assessment Year 2010-11.



2.    The only issue raised in this appeal is against the deletion of

addition of Rs.1,55,71,643/-
                                                           ITA No.4509/Del/2014   2







3.   Briefly stated, the facts of the case are that the assessee declared

revenue receipts of Rs.8,74,667/-. As against that, the assessee claimed

deduction for expenses amounting to Rs.1,55,71,643/-. The AO opined

that the business of the assessee was not set up and, hence, no deduction

could be allowed. He, therefore, made disallowance of Rs.1.55 Crore.

The ld. CIT(A) deleted the addition. The Revenue is aggrieved against

the deletion of the addition.

4.   I have heard the rival submissions and perused the relevant

material on record. It is noticed that the ld. CIT(A) has deleted the

addition by relying on the Tribunal order passed in the assessee's own

case for earlier years deciding the issue in the assessee's favour. The ld.

AR invited my attention towards a copy of the judgment rendered by the

Hon'ble Delhi High Court in the assessee's own case for the AYs 2007-

08 and 2008-09 in which a categorical finding has been recorded that

the business was set up and had commenced. It has further been noticed

by the Hon'ble High Court that the assessee was required to incur

expenses for the business in the form of investment in shares of cement

companies. That is how the deduction was allowed. In view of the fact

that the Hon'ble High Court has, in identical circumstances, for
                                                          ITA No.4509/Del/2014   3







assessment years 2007-08 and 200-09,          allowed deduction for such

expenses, respectfully following the precedent, I also order for the

deduction of expenses because no distinguishing facts for the year under

consideration vis-à-vis those considered and examined by the Hon'ble

High Court, have been brought to my notice by the ld. DR. I, therefore,

uphold the impugned order.



5.    In the result, the appeal filed is dismissed.

      The decision was pronounced in the open court on 06th October,

      2015.

                                                         Sd/-
                                                   (R.S. SYAL)
                                             ACCOUNTANT MEMBER
Dated:06th October, 2015.

dk

Copy forwarded to

1.   Appellant
2.   Respondent
3.   CIT
4.   CIT(A)
5.   DR
                                          Dy. Registrar, ITAT, New Delhi

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting