2023 (10) TMI 513

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....venue : Ms. Sheetal Sarin, DR ORDER PER K. NARASIMHA CHARY, J.M: Aggrieved by the order dated 21/03/2023 passed by the learned Commissioner of Income Tax (Appeals)-11, Hyderabad ("Ld. CIT(A)"), in the case of VIZ Infra Consultants Private Limited [presently known as Motorcity Enterprises Pvt. Ltd.] ("the assessee") for the assessment year 2013-14, Revenue preferred this appeal. 2. Only questio....

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....ngly submits that a plain reading of this explanation makes it abundantly clear that this explanation is deemed to have applied for the assessment year 2013-14 also. 4. Per contra, learned AR, placed reliance on the decision of the Hon'ble Delhi High Court in the case of PCIT vs. Era Infrastructure (India) Ltd. (2022) 141 taxmann.com 289 (Delhi) and Cheminvest Ltd., Vs. CIT (2015) [378 ITR 33....

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....nt Co. Ltd., (2017) 84 taxmann.com 186, Hon'ble Delhi High Court and also the memorandum of Finance Bill, 2022 accordingly to clauses 5 to 7 thereof. The Hon'ble High Court analysed the same in the light of the decision of the Hon'ble Supreme Court in the case of Sedco Forex International Drill. Inc. vs. CIT (2005) 149 Taxman 352 reiterated in M.M. Aqua Technologies Ltd. vs. CIT (2021)....