DCIT (INTERNATIONAL TAXATION),CIRCLE-I, DEHRADUN vs. HALLIBURTON OFFSHORE SERVICES INC., DEHRADUN

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

depreciation on capital assets to the extent of 90% of gross revenue. (ix) Whether the CIT (A) has erred in not appreciating the fact that the amount received by the assessee on account of equipment lost in hole’ is infact the reimbursement of expenses and hence includible in the gross revenue for the purpose of computation of profits

ACIT, UTTRAKHAND vs. M/S. UTTARANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri Challa Nagendra Prasadassessment Year: 2012-13 Acit, Vs. Uttaranchal Jal Vidyut Circle-2, Nigam Ltd., 13-A, Subhash Road, Ujjwal, Maharani Bagh, Uttarakhand. Gms Road, Dehradun. Pan: Aaacu6672R (Appellant) (Respondent) Assessee By : Dr. Rakesh Gupta, Advocate & Shri Somil Aggarwal, Advocate Revenue By : Smt. Poonam Sharma, Sr. Dr Date Of Hearing : 22.12.2021 Date Of Pronouncement : 24.12.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 29Th December, 2016 Of The Cit(A), Dehradun, Relating To Assessment Year 2012-13. 2. The Only Effective Ground Raised By The Revenue Reads As Under:- “1. The Ld.Cit(A) Has Erred In Law & On Facts By Allowing Depreciation On Assets For Which The Actual Cost As Per Section 43(1) Of The Income Tax Act, 1961 Was Nil. 2. The Order Of The Ld.Cit(Appeals) Be Set Aside & That Of The Assessing Officer Be Restored.”

section 63 of the U.P. Reorganization Act, 2000 (did not amount*)(* should read “amounted to”) to a demerger. In the circumstances, it is held that the view of the A.O. that the assets have been acquired free of cost and, therefore, the depreciation is not allowable on them is not sustainable. In the circumstances, the disallowance and addition of Rs.4

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE), DEHRADUN, DEHRADUN vs. STONEFIELD CONSTRUCTION, DEHRADUN, DEHRADUN

In the result, appeal of the Revenue is partly allowed

44 (Madhya Pradesh) has held as under: Section 69A, read with sections 28(i) and 1158BE, of the Income-tax Act, 1961-Unexplained moneys (Surrender during search) Assessment year 2017-18 Assessee during search and seizure action surrendered undisclosed income on account of excess stock and excess cash which was not entered in regular books of account Assessing Officer

ACIT, CIRCLE- 2, DEHRADUN vs. UTTRANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal of the revenue is dismissed

Bench: Shri Amit Shukladr. B.R.R. Kumar

44,07,898/-. After application of the rates as per I.T. Act 1961, and the assessee has debited an amount of Rs.32,39,16,600/-. The depreciation amounting to Rs.29,95,08,702/- which is the balance is therefore, disallowed and added back to the taxable income of the assessee.” 2.2 Aggrieved again, the assessee filed an appeal before

ACIT, CIRCLE- 2, DEHRADUN vs. UTTARANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal of the revenue is dismissed

Bench: Shri Amit Shukladr. B.R.R. Kumar

44,07,898/-. After application of the rates as per I.T. Act 1961, and the assessee has debited an amount of Rs.32,39,16,600/-. The depreciation amounting to Rs.29,95,08,702/- which is the balance is therefore, disallowed and added back to the taxable income of the assessee.” 4 ITA No.5311 & Ors. 2.2 Aggrieved again, the assessee filed

ACIT, CIRCLE- 2, DEHRADUN vs. UTTARANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal of the revenue is dismissed

Bench: Shri Amit Shukladr. B.R.R. Kumar

44,07,898/-. After application of the rates as per I.T. Act 1961, and the assessee has debited an amount of Rs.32,39,16,600/-. The depreciation amounting to Rs.29,95,08,702/- which is the balance is therefore, disallowed and added back to the taxable income of the assessee.” 4 ITA No.5311 & Ors. 2.2 Aggrieved again, the assessee filed

ACIT, CIRCLE-2, DEHRADUN vs. M/S. UTTARANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal of the revenue is dismissed

Bench: Shri Amit Shukladr. B.R.R. Kumar

44,07,898/-. After application of the rates as per I.T. Act 1961, and the assessee has debited an amount of Rs.32,39,16,600/-. The depreciation amounting to Rs.29,95,08,702/- which is the balance is therefore, disallowed and added back to the taxable income of the assessee.” 4 ITA No.5311 & Ors. 2.2 Aggrieved again, the assessee filed

ACIT, CIRCLE- 2, DEHRADUN vs. UTTARANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal of the revenue is dismissed

Bench: Shri Amit Shukladr. B.R.R. Kumar

44,07,898/-. After application of the rates as per I.T. Act 1961, and the assessee has debited an amount of Rs.32,39,16,600/-. The depreciation amounting to Rs.29,95,08,702/- which is the balance is therefore, disallowed and added back to the taxable income of the assessee.” 4 ITA No.5311 & Ors. 2.2 Aggrieved again, the assessee filed

ACIT, CIRCLE-2, DEHRADUN vs. M/S. UTTARANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal of the revenue is dismissed

Bench: Shri Amit Shukladr. B.R.R. Kumar

44,07,898/-. After application of the rates as per I.T. Act 1961, and the assessee has debited an amount of Rs.32,39,16,600/-. The depreciation amounting to Rs.29,95,08,702/- which is the balance is therefore, disallowed and added back to the taxable income of the assessee.” 4 ITA No.5311 & Ors. 2.2 Aggrieved again, the assessee filed

METRO FROZEN FRUIT & VEGETABLES PVT. LTD.,ROORKEE vs. DCIT, CIRCLE, HARIDWAR

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

Bench: Shri R.K. Panda & Shri N. K. Choudhry[Assessment Year: 2009-10] Metro Frozen Fruits & Dcit, Vegetables Pvt. Ltd. Circle Haridwar, Plot No.22, Rajpur, Vs Uttarakhan Bhagwanpur, Roorkee, Uttrakhand Pan-Aaecm4521F Assessee Revenue Assessee By Sh. Piyush Kuchhal, Fca Revenue By Ms. Poonam Sharma Cit-Dr Date Of Hearing 23.02.2022 Date Of Pronouncement 08.03.2022 Order Per R.K. Panda, Am, This Appeal Filed By The Assessee Is Directed Against The Order Dated 24.01.2019 Of The Learned Cit(A), Dehradun, Relating To Assessment Year 2009-10. 2. The Grounds Raised By The Assessee Are As Under:-

Section 143(3) of the Act. 6. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law rejecting the contention of the assessee that approval having been granted in a mechanical manner is bad in law, hence the consequential proceedings u/s 147 of the Act are illegal and liable

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

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

44,33,564 in total towards international transactions pertaining to payment of management service and unit charges, IM charges and payroll expenses to its AE. Ground No. 3: Erroneous rejection of Transactional Net Margin Method ("TNMM") and selection of Comparable Uncontrolled Price ("CUP") Method 3.1 The learned TPO / AO / DRP / have erred in law and on facts by disregarding

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

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

44,33,564 in total towards international transactions pertaining to payment of management service and unit charges, IM charges and payroll expenses to its AE. Ground No. 3: Erroneous rejection of Transactional Net Margin Method ("TNMM") and selection of Comparable Uncontrolled Price ("CUP") Method 3.1 The learned TPO / AO / DRP / have erred in law and on facts by disregarding

SHIV RATAN EDUCATION SOCIETY,HARIDWAR vs. ITO EXEMPTION WARD, DEHRADUN

In the result, the appeal of the assessee is allowed

Bench: SHRI YOGESH KUMAR U.S. (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

44,310/- being 200% of the tax sought to be evaded which penalty stood confirmed by Ld. CIT(A). 4. Aggrieved by the said order, the assessee is in appeal before the Tribunal. 5. Heard both the parties and perused the material available on record. From the perusal of the penalty order, it is observed that the AO while imposing