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

Assessment Year 1994-95
K.Raheja Pvt. Ltd.
The company filed an appeal bearing no CIT (A) CII /AP-25/97-98 before the CIT (A)
against the assessment order made by the A.O. The CIT(A) allowed deduction for interest
of Rs.8,21,400/- relating to interest on borrowed funds utilised for investment in properties
and further allowed deduction for interest of Rs.4,87,972/- relating to incomplete project.
The CIT (A) also granted relief of Rs.85,147 out of total disallowance of interest of
Rs.7,03,983/- relating to loans advanced to sister concerns through order dated April 16
1997 . The Department then filed an appeal bearing No ITA 3015/M/99 before the ITAT.
Assessment Year 1995-96
K.Raheja Corp Pvt. Ltd.
The company filed an appeal bearing no CIT(A)XLII.JC.SR.6/IT-99/00-01 before the CIT
(A) against the assessment order made by the A.O. The CIT(A) allowed relief by deleting
the interest disallowance of Rs.84,150/- on share application money and Rs.27,65,151/-
on interest free loans through order dated May 16 2001. The Department then filed an
appeal bearing No ITA 4975/M/2001 before the ITAT.
Assessment Year 1995-96
K.Raheja Pvt. Ltd.,
The company filed an appeal bearing no CIT(A)XII/SR-6/2/97-98 before the CIT (A)
against the assessment order made by the A.O. The CIT(A) allowed deduction of interest
of Rs.32,45,493/- as period cost which was capitalised by the AO towards project
expenditure through order dated February 18 1999. The Department then filed an appeal
bearing No ITA 2294/M/99 before the ITAT .
Assessment Year 1996-97
K. Raheja Corp Pvt. Limited (formerly Paramount Hotels Limited)
The company filed an appeal bearing no CIT(A)XLII/SR.6/IT.81/99-00 before the CIT (A)
against the assessment order made by the A.O. The CIT(A) allowed deduction in respect
of interest of Rs.1,00,000/- on share application money and Rs.37,15,880/- on interest
free loans to sister concerns. CIT (a) also allowed deduction for electricity charges of
Rs.5,00,000/- through order dated April 22 1999. The Department then filed an appeal
bearing No ITA No 4431 M/2000 before the ITAT .
Assessment Year 1997-98
K. Raheja Corp Pvt. Limited (formerly Paramount Hotels Limited)
The company filed an appeal bearing no CIT(A)XLII/JC.SR.30/265/99-00 before the CIT
(A) against the assessment order made by the A.O. The CIT(A) allowed deduction in
respect of interest of Rs.86,250/- on share application money and Rs.31,94,528/- in
respect of interest free loans to sister concern through an order dated March 21 2000.
The Department then filed an appeal bearing No ITA No 4976/M/2001 before the ITAT.
Assessment Year - 1999 – 2000
K. Raheja Corp Pvt. Ltd.
The company filed an appeal bearing No CIT(A)-C-V/DCCC29/102/02-03 before the CIT
(A) against the assessment order made by the A.O. The CIT(A) allowed relief in respect
of disallowance of interest of Rs.80,900/- on share application money of Rs.5,00,000/-
and allowed deduction for interest of Rs.28,07,877/- on interest free loans advanced to
sister concerns through order dated 11.2.03. The Department then filed an appeal
bearing No ITA 2847/M/2003 before the ITAT.
Assessment Year - 2001-02
K. Raheja Corp Pvt. Ltd.
Demand of interest for Rs.1,91,152/- u/s.201 (1A) read with section 193 was raised by
ITO, TDS, Ward 1 (5), Mumbai for non deduction of tax. The company filed appeal with
CIT(A) bearing No.CIT(A)XXX/IT-48/TDS-RG.1/03-04. CIT(A) dismissed the company’s
appeal. The company has filed further appeal before ITAT.
Assessment Year - 2002-03
K. Raheja Corp Pvt. Ltd.
Demand of interest for Rs.2,41,039/- u/s.201 (1A) read with section 193 was raised by
ITO, TDS, Ward 1 (5), Mumbai for non deduction of tax. The company filed appeal with
CIT(A) bearing No.CIT(A)XXX/IT-49/TDS-RG.1/03-04. CIT(A) dismissed the company’s
appeal. company has filed further appeal before ITAT.
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