ONGC Videsh Ltd. v. DCIT

37 SOT 97Income Tax Appellate Tribunal2010#5232 most cited
23

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2022.

Also reported as

127 TTJ 497

Issues it is cited on

section 24asection 35esection 269uasection 75section 52interest under section 201(1a)section 32(1)(ii)commercial rightssection 192section 32(1)section 269enduring benefit

Judgments citing ONGC Videsh Ltd. v. DCIT

M/S KARNATAKA EMTA COAL MINES LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the result, assessee’s appeals are partly allowed for statistical purposes

ITA 2139/BANG/2018[2014-15]Status: DisposedITAT Bangalore14 Nov 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri Gudimella V.P. Pavan Kumar &
Section 32(1)(ii)Section 35ESection 37

…re and ITA Nos.2135 to 2139/Bang/2018 M/s. Karnataka EMTA Coal Mines Ltd., Bangalore Page 36 of 55 thereby disallowing the deduction claimed by the assessee in respect of the same.” 8.30 In the case of ONGC Videsh Ltd. Vs. Deputy Commissioner of Income-tax (37 SOT 97), wherein the Coordinate Bench of Delhi Tribunal considered similar issue that the Commercial rights of exploration of minerals, oil, by entering into production sharing agreement with Russian Government fall under the expression “any other business or commercial rights on similar nature”, same being akin to licenses “as stipulated in section 32(1)…

M/S KARNATAKA EMTA COAL MINES LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the result, assessee’s appeals are partly allowed for statistical purposes

ITA 2138/BANG/2018[2013-14]Status: DisposedITAT Bangalore14 Nov 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri Gudimella V.P. Pavan Kumar &
Section 32(1)(ii)Section 35ESection 37

…re and ITA Nos.2135 to 2139/Bang/2018 M/s. Karnataka EMTA Coal Mines Ltd., Bangalore Page 36 of 55 thereby disallowing the deduction claimed by the assessee in respect of the same.” 8.30 In the case of ONGC Videsh Ltd. Vs. Deputy Commissioner of Income-tax (37 SOT 97), wherein the Coordinate Bench of Delhi Tribunal considered similar issue that the Commercial rights of exploration of minerals, oil, by entering into production sharing agreement with Russian Government fall under the expression “any other business or commercial rights on similar nature”, same being akin to licenses “as stipulated in section 32(1)…

M/S KARNATAKA EMTA COAL MINES LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the result, assessee’s appeals are partly allowed for statistical purposes

ITA 2137/BANG/2018[2012-13]Status: DisposedITAT Bangalore14 Nov 2022AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri Gudimella V.P. Pavan Kumar &
Section 32(1)(ii)Section 35ESection 37

…re and ITA Nos.2135 to 2139/Bang/2018 M/s. Karnataka EMTA Coal Mines Ltd., Bangalore Page 36 of 55 thereby disallowing the deduction claimed by the assessee in respect of the same.” 8.30 In the case of ONGC Videsh Ltd. Vs. Deputy Commissioner of Income-tax (37 SOT 97), wherein the Coordinate Bench of Delhi Tribunal considered similar issue that the Commercial rights of exploration of minerals, oil, by entering into production sharing agreement with Russian Government fall under the expression “any other business or commercial rights on similar nature”, same being akin to licenses “as stipulated in section 32(1)…

M/S KARNATAKA EMTA COAL MINES LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the result, assessee’s appeals are partly allowed for statistical purposes

ITA 2136/BANG/2018[2011-12]Status: DisposedITAT Bangalore14 Nov 2022AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri Gudimella V.P. Pavan Kumar &
Section 32(1)(ii)Section 35ESection 37

…re and ITA Nos.2135 to 2139/Bang/2018 M/s. Karnataka EMTA Coal Mines Ltd., Bangalore Page 36 of 55 thereby disallowing the deduction claimed by the assessee in respect of the same.” 8.30 In the case of ONGC Videsh Ltd. Vs. Deputy Commissioner of Income-tax (37 SOT 97), wherein the Coordinate Bench of Delhi Tribunal considered similar issue that the Commercial rights of exploration of minerals, oil, by entering into production sharing agreement with Russian Government fall under the expression “any other business or commercial rights on similar nature”, same being akin to licenses “as stipulated in section 32(1)…

M/S KARNATAKA EMTA COAL MINES LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the result, assessee’s appeals are partly allowed for statistical purposes

ITA 2135/BANG/2018[2010-11]Status: DisposedITAT Bangalore14 Nov 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri Gudimella V.P. Pavan Kumar &
Section 32(1)(ii)Section 35ESection 37

…re and ITA Nos.2135 to 2139/Bang/2018 M/s. Karnataka EMTA Coal Mines Ltd., Bangalore Page 36 of 55 thereby disallowing the deduction claimed by the assessee in respect of the same.” 8.30 In the case of ONGC Videsh Ltd. Vs. Deputy Commissioner of Income-tax (37 SOT 97), wherein the Coordinate Bench of Delhi Tribunal considered similar issue that the Commercial rights of exploration of minerals, oil, by entering into production sharing agreement with Russian Government fall under the expression “any other business or commercial rights on similar nature”, same being akin to licenses “as stipulated in section 32(1)…

BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, DDIT/ADIT (INTERNATIONAL TAXATION), CIRCLE -1, DEHRADUN

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 5/DDN/2022[2017-2018]Status: DisposedITAT Dehradun31 Mar 2022AY 2017-2018
For Appellant: Shri Ajay Vohra, Sr. Advocate &For Respondent: Shri T.S. Mapwal, Sr. DR
Section 143(3)Section 144C(13)Section 92C

…nses for the future projects o f the Assessee for which even the PSC is not executed. The Ld . Authorised Representative has submitted that this issue of allowability of this expenditure is covered in its favour by the decision of ONGC Videsh Ltd versus DCIT [37 SOT 97] wherein it has been held as under:- “15 . With regard to disallowing claim of expenses of Rs . 43.85 lakhs incurred for purchase and evaluation of the seismic data of foreign blocks , on the plea of same being capital in nature, we found that Assessee being engaged in the business of exploration and production of hydrocarbons in other countries to…

BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX DDIT/ADIT (INTERNATIONAL TAXATION ) CIRCLE-1, DEHRADUN

In the result, the appeal of the assessee is partly allowed

ITA 7/DDN/2021[2016-17]Status: DisposedITAT Dehradun14 Dec 2021AY 2016-17

Bench: Shri R.K. Panda & Shri V.P. Raoassessment Years: 2016-17

For Appellant: Sh. Ajay Vohra, Sr. AdvocateFor Respondent: Sh. N.S. Jangpangi, CIT/DR
Section 143(3)Section 144C(13)Section 144C(5)Section 44C

…penses for the future projects of the Assessee for which even the PSC is not executed. The Ld. Authorised Representative has submitted that this issue of allowability of this expenditure is covered in its favour by the decision of ONGC Videsh Ltd versus DCIT [37 SOT 97] wherein it has been held as under:- “15. With regard to disallowing claim of expenses of Rs. 43.85 lakhs incurred for purchase and evaluation of the seismic data of foreign blocks, on the plea of same being capital in nature, we found that Assessee being engaged in the business of exploration and production of hydrocarbons in other countries to a…

SHREE GAVI SIDDESHWARA MINERALS ,BANGALORE vs. DEPUTY COMMISSIONER OF INOCME TAX CENTRAL CIRCLE-1(2), BANGALORE

ITA 514/BANG/2019[2014-15]Status: DisposedITAT Bangalore20 Sept 2019AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…ng/2019 & 863/Bang/2017 Page 8 of 25 Thus the Mining lease and licence is a capital asset which enables the assessee to do its business of Mining. On this issue the assessee has relied on the decision of the ITAT Delhi in the case of ONGC Videsh Ltd vs DCIT - 127 TTJ 497 (PBI - I page 100, relevant page 109,110) wherein the Tribunal in paras 14 & 14A has held as under: " 14…….If it is an asset being the right then it is obvious that same is commercial right, therefore in the nature of asset in the form of license. This right had been granted to the assessee by way of license and the assessee became owner of such…

SHREE GAVI SIDDESHWARA MINERALS ,BANGALORE vs. DEPUTY COMMISSIONER OF INOCME TAX CENTRAL CIRCLE-1(2), BANGALORE

ITA 513/BANG/2019[2012-13]Status: DisposedITAT Bangalore20 Sept 2019AY 2012-13

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…ng/2019 & 863/Bang/2017 Page 8 of 25 Thus the Mining lease and licence is a capital asset which enables the assessee to do its business of Mining. On this issue the assessee has relied on the decision of the ITAT Delhi in the case of ONGC Videsh Ltd vs DCIT - 127 TTJ 497 (PBI - I page 100, relevant page 109,110) wherein the Tribunal in paras 14 & 14A has held as under: " 14…….If it is an asset being the right then it is obvious that same is commercial right, therefore in the nature of asset in the form of license. This right had been granted to the assessee by way of license and the assessee became owner of such…

SHREE GAVI SIDDESHWARA MINERALS ,BANGALORE vs. DEPUTY COMMISSIONER OF INOCME TAX CENTRAL CIRCLE-1(2), BANGALORE

ITA 512/BANG/2019[202-13]Status: DisposedITAT Bangalore20 Sept 2019

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…ng/2019 & 863/Bang/2017 Page 8 of 25 Thus the Mining lease and licence is a capital asset which enables the assessee to do its business of Mining. On this issue the assessee has relied on the decision of the ITAT Delhi in the case of ONGC Videsh Ltd vs DCIT - 127 TTJ 497 (PBI - I page 100, relevant page 109,110) wherein the Tribunal in paras 14 & 14A has held as under: " 14…….If it is an asset being the right then it is obvious that same is commercial right, therefore in the nature of asset in the form of license. This right had been granted to the assessee by way of license and the assessee became owner of such…

SHREE GAVI SIDDESHWARA MINERALS ,BANGALORE vs. DEPUTY COMMISSIONER OF INOCME TAX CENTRAL CIRCLE-1(2), BANGALORE

ITA 511/BANG/2019[2011-12]Status: DisposedITAT Bangalore20 Sept 2019AY 2011-12

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…ng/2019 & 863/Bang/2017 Page 8 of 25 Thus the Mining lease and licence is a capital asset which enables the assessee to do its business of Mining. On this issue the assessee has relied on the decision of the ITAT Delhi in the case of ONGC Videsh Ltd vs DCIT - 127 TTJ 497 (PBI - I page 100, relevant page 109,110) wherein the Tribunal in paras 14 & 14A has held as under: " 14…….If it is an asset being the right then it is obvious that same is commercial right, therefore in the nature of asset in the form of license. This right had been granted to the assessee by way of license and the assessee became owner of such…

M/S SHREE GAVI SIDDESHWARA MINERALS ,BANGALORE vs. THE COMMISSIONE OF INCOME TAX (CENTRAL) , BANGALORE

ITA 863/BANG/2017[2012-13]Status: DisposedITAT Bangalore20 Sept 2019AY 2012-13

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…ng/2019 & 863/Bang/2017 Page 8 of 25 Thus the Mining lease and licence is a capital asset which enables the assessee to do its business of Mining. On this issue the assessee has relied on the decision of the ITAT Delhi in the case of ONGC Videsh Ltd vs DCIT - 127 TTJ 497 (PBI - I page 100, relevant page 109,110) wherein the Tribunal in paras 14 & 14A has held as under: " 14…….If it is an asset being the right then it is obvious that same is commercial right, therefore in the nature of asset in the form of license. This right had been granted to the assessee by way of license and the assessee became owner of such…

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. MUNDRA INTERNATIONAL CONTAINER TERMINAL PVT. LTD.,, KUTCH

In the result, the appeal of the revenue is dismissed

ITA 2171/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2013-14
For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Alok Singh, CIT-D.R
Section 143(2)Section 14ASection 32

…Forex Brokerage Ltd. Vs. ACIT (2009) 33 SOT 237 (Mum) - DCIT 11 (OSD) Mumbai Vs. Weizmann Forex Ltd. (2012) 21 taxmann.com 99 (Mum) - Birla Global Assets Finance Co. Ltd. in ITA No.6835 of 2010 (Hon'ble Bombay High Court) - ONGC Videsh Business Ltd. Vs. DCIT 127 TTJ 497 (Delhi) - S. Amika Vs. DCIT 15 Taxmann.com 28 (Kerala) - Piem Hotels Ltd. Vs. DCIT 128 ITD 272 (Mum) 2.5. Further submitted that this right has been acquired through the lease agreement dtd. 5.6.2003 and accordingly the A.Y. 2004-05 was the first year of this operation and in that year the deprecation of Rs.101,20,91,8887- has been claimed leavin…

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. MUNDRA INTERNATIONAL CONTAINER TERMINAL PVT. LTD.,, KUTCH

In the result, the appeal of the revenue is dismissed

ITA 1117/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2012-13
For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Alok Singh, CIT-D.R
Section 143(2)Section 14ASection 32

…Forex Brokerage Ltd. Vs. ACIT (2009) 33 SOT 237 (Mum) - DCIT 11 (OSD) Mumbai Vs. Weizmann Forex Ltd. (2012) 21 taxmann.com 99 (Mum) - Birla Global Assets Finance Co. Ltd. in ITA No.6835 of 2010 (Hon'ble Bombay High Court) - ONGC Videsh Business Ltd. Vs. DCIT 127 TTJ 497 (Delhi) - S. Amika Vs. DCIT 15 Taxmann.com 28 (Kerala) - Piem Hotels Ltd. Vs. DCIT 128 ITD 272 (Mum) 2.5. Further submitted that this right has been acquired through the lease agreement dtd. 5.6.2003 and accordingly the A.Y. 2004-05 was the first year of this operation and in that year the deprecation of Rs.101,20,91,8887- has been claimed leavin…

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

ITA 7477/DEL/2018[2014-15]Status: DisposedITAT Delhi03 Apr 2019AY 2014-15

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR
Section 143(3)

…le business deduction under section 37(1), de hors section 42 of the Act. ITA Nos. 7476 & 7477Del/2018 21 BG Exploration & Production India Ltd. Ld. Counsel placed reliance on decision of Delhi Bench of the Tribunal in the case of ONGC Videsh Ltd. v. DCIT: 37 SOT 97. 30. The ld. Counsel at the outset submitted that fact and circumstances of the case are similar to assessment year 2010- 11 and this issue stands covered by this Tribunal for assessment year 2010-11 as under: “55. From the above chart it is apparent that out of the total expenditure incurred of Rs. 931819021/– the Ld. Assessing Officer has allowed…

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

ITA 7476/DEL/2018[2013-14]Status: DisposedITAT Delhi03 Apr 2019AY 2013-14

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR
Section 143(3)

…le business deduction under section 37(1), de hors section 42 of the Act. ITA Nos. 7476 & 7477Del/2018 21 BG Exploration & Production India Ltd. Ld. Counsel placed reliance on decision of Delhi Bench of the Tribunal in the case of ONGC Videsh Ltd. v. DCIT: 37 SOT 97. 30. The ld. Counsel at the outset submitted that fact and circumstances of the case are similar to assessment year 2010- 11 and this issue stands covered by this Tribunal for assessment year 2010-11 as under: “55. From the above chart it is apparent that out of the total expenditure incurred of Rs. 931819021/– the Ld. Assessing Officer has allowed…

HUNTSMAN INTERNATIONAL (INDIA) P.LTD,MUMBAI vs. ASST CIT 10(1)(1), MUMBAI

In the result, assessee’s appeal is partly allowed

ITA 1099/MUM/2017[2012-13]Status: DisposedITAT Mumbai12 Sept 2018AY 2012-13

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwalassessment Year : 2012-13 Huntsman International (India) Acit 10(1)(1), Private Ltd., Mumbai Vs. Light Hall B-Wing, Saki Vihar Road, Andheri (E), Mumbai 400 072

For Appellant: Shri F V IraniFor Respondent: Shri Rignesh Das
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “K”, MUMBAI Before Shri Saktijit Dey, Judicial Member & Shri Manoj Kumar Aggarwal, Accountant Member Assessment Year : 2012-13 Huntsman International (India) ACIT 10(1)(1), Private Ltd., Mumbai Vs. Light Hall B-Wing, Saki Vihar Road, Andheri (E), Mumbai 400 072 PAN AAACH9149J (Appellant) (Respondent) Appellant By : Shri F V Irani Respondent By : Shri Rignesh Das Date of Hearing :04.09.2018 Date of Pronouncement : 12.09.2018 O R D E R Per Saktijit Dey, Judicial Member This appeal by the assessee is directed against the assessment order dated 17.01.2017…

M/S. BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. JCIT (INTERNATIONAL TAXATION), DEHRADUN

In the result, the appeal filed by the assessee is partly allowed for

ITA 1478/DEL/2017[2011-12]Status: DisposedITAT Delhi18 Jul 2018AY 2011-12

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Bg Exploration & Production India Jcit (International Taxation), Ltd., Dehradun. Lake Boulevard Road, Vs. Hiranandani Business Park, Powai, Mumbai.

For Appellant: Shri Ajay Vohra, Sr.Adv
Section 143(3)Section 144C(5)Section 153Section 153(4)Section 92C

…wing conditions need to be satisfied :- (i) Expense should be incurred wholly and exclusively for the purposes of the business. (ii) The expense should be revenue in nature. 28. Referring to the decision in the case of ONGC Videsh Ltd. vs. DCIT reported in 37 SOT 97, he submitted that the assessee in that case was engaged in business of exploration and production of hydrocarbons incurred expenditure on purchase and evaluation of seismic data of foreign blocks. It was held that expenditure so incurred was for furtherance of activities undertaken by it in 19 normal course of business and, therefore, same was t…

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, DEHRADUN

ITA 6791/DEL/2017[2012-13]Status: DisposedITAT Delhi17 Jul 2018AY 2012-13

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri H.K. Chaudhary, CIT DR
Section 143Section 144C

…was already running and exploratory expenses are necessary to carry out its business in India which were to be based upon the evaluation of particulars and technical analysis. Coordinate Bench of the Tribunal in the case of ONGC 18. Videsh Ltd. vs. DCIT – 37 SOT 97 allowed expenses incurred by the taxpayer on exploration, acquiring seismic data and undertaking feasibility status for production of crude oil and natural gas u/s 37 (1) of the Act by returning following findings :- “Section 37 (1) of the Income-tax Act, 1961 – Business expenditure – Allowability of – Assessment Year 2002-03 – Whether where asses…

DCIT CEN CIR 1(1), MUMBAI vs. ASSOCIATE STONE INDUSTRIES (KOTA) LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 5394/MUM/2016[2003-04]Status: DisposedITAT Mumbai28 May 2018AY 2003-04

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Shri Vijay Mehta, A.RFor Respondent: Shri V. Vidhyadhar, D.R
Section 32(1)(ii)Section 43BSection 73

…e the Ld. D.R. also argued that the payment made by the assessee to acquire mining rights is not specified under the head intangible assets and hence not eligible for depreciation. Therefore, reliance by the Ld. CIT(A) in the case of ONGC Videsh Ltd. vs. DCIT 37 SOT 97 (Delhi) is wrong and the order of CIT(A) should be reversed. 14. The Ld. A.R., on the other hand, argued that the compensation paid by the assessee to acquire mining rights has not resulted in the acquisition of any fixed assets as the M/s. Associate Stone Industries (Kotah)Ltd. assessee has not acquired any ownership in the said land but a limite…

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