Case Number: ITA 5919/DEL/2019
Appellant: Addl. CIT Spl Range-3, New Delhi
Respondent: DLF Ltd, New Delhi
Assessment Year: 2016-17
Order Type: Final Tribunal Order
Date of Order: 2023-07-19
Pronounced On: 2023-07-19
Case Filed On: 2019-07-08
This appeal was filed by the Revenue against the order dated 30.04.2019 passed by the CIT(A)-34, New Delhi, for the assessment year 2016-17. The case was heard before the Delhi Bench ‘B’ of the Income Tax Appellate Tribunal (ITAT).
The hearing was conducted on 11.07.2023, with Sh. R.S. Singhvi, CA and Sh. Satyajeet Goel, CA representing the assessee, and Sh. T. James Singson, CIT, DR, representing the Revenue. The issues in this appeal covered various grounds, many of which had been addressed in previous assessment years.
The Tribunal observed that this issue had been addressed in the assessee’s favor in previous assessment years, particularly in A.Y. 2008-09. The Tribunal upheld the decision of the CIT(A) to allow the deduction claimed by the assessee.
The Tribunal noted that the issue of revenue recognition as per the Percentage of Completion Method (POCM) had been consistently decided in favor of the assessee in earlier years, including A.Y. 2006-07 and A.Y. 2008-09. The Tribunal upheld the CIT(A)’s decision to reject the Revenue’s addition on this ground.
The issue of capitalization of interest was also covered in favor of the assessee in previous years. The Tribunal found no basis for the Revenue’s addition and upheld the CIT(A)’s decision to delete the addition.
The Tribunal noted that this issue had been decided in favor of the assessee in A.Y. 2006-07 and subsequent years. The CIT(A) had rightly deleted the addition made by the AO on this account.
The Tribunal found that the issue of net contingency deposits had been consistently decided in favor of the assessee in earlier years. The CIT(A)’s decision to delete the addition was upheld.
The Tribunal observed that this issue had been addressed in the assessee’s favor in A.Y. 2006-07 and subsequent years. The CIT(A) had correctly deleted the addition.
The Tribunal upheld the CIT(A)’s restriction of the addition to Rs. 9,10,488/-, noting that the AO had not recorded satisfaction regarding the assessee’s disallowance, as required by law.
The Tribunal noted that the issue of treating business income as income from house property had been consistently decided in favor of the assessee in earlier years. The CIT(A)’s decision was upheld.
The Tribunal found that this issue had been consistently decided in favor of the assessee in previous years. The CIT(A)’s decision to delete the addition was upheld.
The Tribunal noted that the issue of depreciation on DLF Central Building had been decided in favor of the assessee in earlier years. The CIT(A)’s decision to delete the addition was upheld.
The Tribunal upheld the CIT(A)’s decision, noting that the expenses were incurred for business purposes and had been consistently allowed in earlier years.
The Tribunal noted that the issue of carbon credits had been decided in favor of the assessee by various judicial pronouncements, including the assessee’s own case in A.Y. 2011-12. The CIT(A)’s decision was upheld.
The Tribunal found that the issue had been consistently decided in favor of the assessee in earlier years. The CIT(A)’s decision to delete the addition was upheld.
The Tribunal noted that the issue of prior period expenses had been decided in favor of the assessee in earlier years. The CIT(A)’s decision to delete the addition was upheld.
The Tribunal dismissed the appeal of the Revenue and upheld the decisions of the CIT(A) on all grounds.
Order: The appeal of the Revenue is dismissed.
Pronounced on: 19th July 2023
Accountant Member: N.K. Billaiya
Judicial Member: Anubhav Sharma
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(A)
5. DR, ITAT ‘B’ Bench, Delhi
6. Guard File
Assistant Registrar, ITAT, Delhi
Addl. CIT vs DLF Ltd – Deduction Disallowance and Revenue Recognition Issues
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