TMI Blog2019 (2) TMI 524X X X X Extracts X X X X X X X X Extracts X X X X ..... s Objection No.486/Del/2015 - - - Dated:- 8-2-2019 - SMT. BEENA A PILLAI, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER For The Department : Smt.Naina Soin Kapil, Sr.DR For The Assessee : Sh. Nageswar Rao, Adv. And Sh. Purushottam Anand, Adv. ORDER PER BEENA A PILLAI, JUDICIAL MEMBER Present Cross appeals have been filed by revenue as well as assessee against order dated 27/02/15 passed by Ld.CIT(A)-3, New Delhi on following grounds of appeal: ITA 2821/Del/15 (Revenue) 1. Whether on the facts and in the circumstances of the case and in law, Ld.CIT(A) has erred in deleting the addition made on account of payment of ₹ 1,52,99,818/- by the AO u/s 40(a)(i) of the I.T.Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t interest u/s 234C is consequential. 2. Brief facts of case are as under: Return of income was filed declaring total income of ₹ 7,21,44,97,477/-, which was subsequently revised to total income of ₹ 7,15,67,26,286/-. Assessee is a public limited company and is engaged in business of engineering, consultancy and LSTK contract work. It is a Public Sector Company with Ministry of Petroleum and Natural Gas established under Indian Companies Act, 1956 and is primarily engaged in providing engineering and technical consultancy services and execution of contracts on a Turnkey basis predominantly in Oil/Gas/Hydro Carbon Sectors. The assessment u/s 143(3) of the Income Tax Act, 1961 (the Act) was finalised at total income of & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt year 2010-11 in assessee s own case, has been upheld. 5. We have perused submissions advanced by both sides in light of records placed before us. Admittedly issue stands squarely covered in assessee s favour by decision of this Tribunal in assessee s own case, which has been upheld by Hon ble Delhi High Court (supra). Respectfully following the same we uphold view taken by Ld. CIT (A). 5.1. Accordingly ground raised by revenue stands dismissed. 6. In the result appeal filed by revenue stands dismissed. 7. Cross Objection No. 486/Del/2015 Ground No. 1 is general in nature therefore do not require any adjudication. 7.1. Ground No. 2: Assessee raised issue in respect of TDS credit not being allowed by Ld ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
