2013 (2) TMI 296

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....derpreet Singh, Advocate for the appellant. Mr. Kulvir Narwal, Advocate for the respondent.   HEMANT GUPTA, J. (Oral) This order shall dispose of afore-mentioned 17 appeals arising out of order dated 31.03.2010 passed by the Income Tax Appellate Tribunal, Delhi Bench 'D' New Delhi (for short 'the Tribunal') in respect of the assessment year 2006-07. The Revenue has....

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....after applying the provisions of Section 44-AD of the Income Tax Act, 1961 (for short 'the Act'). However, during the course of assessment proceedings, it was found that the assessees have not done any contract work of PACL India Limited. Since no work has been done by the assessees, therefore, no expense can be allowed. Thus, the receipts of the assessees from PACL India Limited were trea....

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.... a finding that if the Assessing Officer was of the view that no work has been done by any of the contractor, the amount received itself cannot be considered to be income of the assessees but only the profit from such receipts can be brought to tax. The assessees herein being found to be name lenders could have charged only the commission for lending the name. Therefore, the income of the prese....