Annexure XIV Continued… - Edelweiss

1. Appeal filed by Assistant Commissioner of Income Tax, Circle 14(1), New Delhi v. PVL before ITAT
for A.Y. 2002-2003
Appeal No. 970/Del-2011 dated February 18, 2011 before the ITAT
The Income Tax Department filed an appeal no. 970/Del-2011 dated February 18, 2011 before the ITAT
against the CIT Appeals XVII order dated November 01, 2010. The appellate authority disallowed the addition
of ` 1.12 million made by the Deputy Commissioner of Income Tax in the assessment order. The Deputy
Commissioner of Income Tax vide its assessment order passed on November 11, 2009 has treated share
application received of ` 1.12 million as unexplained investment under section 68 of the I.T. Act. The total
amount involved in this appeal is ` 0.79 million and the matter is currently pending.
2. Assistant Commissioner of Income Tax, Circle 14(1), New Delhi v. PVL for scrutiny assessment
proceedings for A.Y. 2009-2010
PVL has received a notice under section 143(2) of the I.T. Act dated August 28, 2010 from Assistant
Commissioner of Income Tax Circle 14(1), New Delhi for scrutiny assessment proceedings calling for certain
information and record. PVL has submitted the details and information as sought by Assistant Commissioner
of Income Tax from time to time and the assessment proceedings are pending.
3. PVL v. Assistant Commissioner of Income Tax, Circle-14(1), New Delhi before CIT- XVII, New Delhi
for A.Y. 2003-2004
Appeal No. 140074 of 2011 filed before the CIT Appeal-XVII
PVL filed an appeal no. 140074 dated January 17, 2011 before the CIT Appeals – XVII, New Delhi against the
Assessment order dated December 23, 2010 passed by the Assistant Commissioner of Income Tax, Circle –
14(1), New Delhi. The assessing officer made an addition of ` 1.12 million made under section 68 of the I.T.
Act on account of share application money received. The total amount involved in this appeal is ` 0.80 million
and the matter is currently pending.
4. PVL v. Assistant Commissioner of Income Tax, Circle-14(1), New Delhi before ITAT for A.Y. 2007-
2008
Appeal No. 193/Del-2011 of 2011 before the ITAT, Delhi
PVL filed an appeal no. 193/Del-2011 dated January 13, 2011 before ITAT Delhi against the CIT Appeals
order dated November 1, 2010 wherein CIT Appeals has upheld the addition made by assessing officer vide its
order dated November 30, 2009. The Assistant Commissioner of Income Tax, Circle-14(1) vide assessment
order dated November 30, 2009 has made addition ` 4.25 million being interest disallowance on the amount of
share application money given by PVL. The total amount involved in this appeal is ` 0.45 million and the
matter is currently pending.
5. PVL v. Assistant Commissioner of Income Tax, Circle-14(1), New Delhi before ITAT for A.Y. 2008-
2009
PVL has filed an appeal before ITAT on April 21, 2011 against the CIT Appeals order dated February 23,
2011 wherein CIT Appeals has upheld the addition made by assessing officer vide its order dated November
15, 2010. The Assistant Commissioner of Income Tax, Circle – 14(1) vide assessment order dated November
15, 2010has disallowed ` 1.27 million under section 14A of the I.T. Act. The total amount involved in this
appeal is ` 3.14 million and the matter is currently pending.
3. Bhandari Consultancy and Finance Limited (“BCFL”) #
Pursuant to the order of Calcutta High Court dated August 19, 2010, Suvidha Stock Broking Services Private
Limited and Reward Vinimay Private Limited and pursuant to the order of Delhi High Court dated January
19, 2011, Uttaranchal Finance Limited, Parnami Habitat Developers Limited, Sindhu Trade Links Limited,
Garuda Imaging and Diagnostic Private Limited and Sindhu Holdings Limited have been merged with BCFL.
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