Shopper's Stop Limited - Securities and Exchange Board of India

ASSESSMENT YEAR - 1998-99
Casa Maria Properties Pvt. Ltd.
The company’s Return was assessed under section 143(3) of the Income Tax Act, 1961.
The A.O disallowed Interest of Rs.4,04,395/- relating to investment in shares. The
company filed an appeal (bearing No CIT(A)XLII/SR./IT.109/2000-01)to CIT (A) and
CIT(A) rejected the company's appeal.
The company has appealed to ITAT against the Order of the CIT(A).
ASSESSMENT YEAR - 1998-99
Raghukool Estate Dev. Pvt. Ltd.
The company’s Return was assessed under section 143(3) of the Income Tax Act, 1961.
The A.O disallowed Interest of Rs.3,99,050/- relating to investment in shares. The
company filed an appeal bearing No CIT(A)XLII/SR./IT.100/2000-01 to CIT (A) and
CIT(A) rejected the company's appeal.
The company has appealed to ITAT against the Order of the CIT(A).
ASSESSMENT YEAR -1998-99
K. Raheja Corp Pvt. Ltd. (formerly Paramount Hotels Limited)
The company’s Return was assessed under section 143(3) of the Income Tax Act, 1961.
The A.O disallowed interest of Rs.56,77,721/- relating to investment in shares and further
disallowed sum of Rs.1,01,997/- being expenditure incurred on increase in share capital
during the year and also depreciation of Rs.40,028/- on assets acquired from outside India
where no tax was deducted at source. ( u/s.40a(i)) . The company filed an appeal (bearing
No CIT(A)C-V/DCCC.29/141/2001-02) against these disallowances and CIT(A) rejected
the company appeal.
The company has further appealed against the order of the CIT(A) with ITAT.
ASSESSMENT YEAR 1998-99
Ivory Properties And Hotels Pvt. Ltd.
The company’s Return was assessed under section 143(3) of the Income Tax Act, 1961.
The A.O disallowed finance cost of Rs.10,35,406/- treating the same as forming part of
work in progress. Further, the AO reduced from work in progress Rs.17,67,490/- paid as
technical fees to Skidmore Owing & Merrill LIP and Rs.19,56,221/- being reimbursement
of expenses incurred on foreign Technicians on the ground that no TDS was deducted out
of these two payments. The company filed appeal to CIT (A) bearing No CIT(A)C-
V/DCCC29/142/2001-02 against these disallowances.
The Appeal was rejected by the CIT(A).The company has appealed against the Order of
the CIT(A) with ITAT.
ASSESSMENT YEAR 1998-99
K. Raheja Pvt. Ltd.
The company’s Return was assessed under section 143(3) of the Income Tax Act, 1961.
The A.O disallowed as finance cost of Rs.61,24,181/- as forming part of work in progress
in respect of incomplete project. Further the AO disallowed interest Rs.35,00,000/-
relating to investment in shares. The AO also disallowed 1/10 th of preliminary expenses
u/s.35D of Rs.93,092/-. The AO also made an addition of Rs.6,05,915/- by disallowing the
claim for estimated expenses towards swimming pool and Club House. The company
filed an appeal (bearing No CIT(A)C-V/DCCC29/IT79/2000-01) against the
disallowances.
The Appeal was rejected by the CIT(A).The company has appealed against the Order of
the CIT(A) with ITAT.
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