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

disallowing inventory written off of Rs.6,54,60,721 on the basis that the Appellant submitted only internal documents which do not suffice for allowance of expenditure. 9.2 The learned AO / DRP erred in not appreciating that amount of obsolete inventory written off was debited to the Profit and Loss Account which has been audited by an independent auditor. Ground

RAJESH AGGARWAL ,DEHRADUN vs. THE DEPUTY COMMISSIONER OF INCOME TAX OFFICER, CENTRAL CIRCLE, DEHRADUN

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

section 115BBE of the Act of getting taxed at a higher rate, the assessee chose to file revised return on 13.12.2018, wherein, the assessee distributed the additional income of Rs.74,96,096/- to all the assessment years commencing from assessment years 2011-12 to 2017-18. Accordingly, the additional income offered by him in the revised return filed

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

KARAM SAFETY PRIVATE LIMITED,SITARGANJ vs. THE INCOME TAX OFFICER, WARD-2(3)(5), UDHAM SINGH NAGAR

In the result, both the appeals of the assessee are allowed and that of the Stay Applications are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

disallowing deduction u/s 80IC/Chapter VI-A of the Act. 4. On the facts and circumstances of the case and in law, the Ld. AO/DRP have failed to appreciate that to invoke the provisions of Section 92BA, existence of any 'arrangement' to ‘more than ordinary profits’ between the Appellant and its Associate Enterprise (“AE”) need to be established under the provisions

KARAM SAFETY PRIVATE LIMITED,UDHAM SINGH NAGAR vs. THE INCOME TAX OFFICER, WARD-2(3)(5), UDHAM SINGH NAGAR

In the result, both the appeals of the assessee are allowed and that of the Stay Applications are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

disallowing deduction u/s 80IC/Chapter VI-A of the Act. 4. On the facts and circumstances of the case and in law, the Ld. AO/DRP have failed to appreciate that to invoke the provisions of Section 92BA, existence of any 'arrangement' to ‘more than ordinary profits’ between the Appellant and its Associate Enterprise (“AE”) need to be established under the provisions

MB PETROLEUM SERVICES LLC,MUMBAI vs. DDIT, DEHRADUN

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

Bench: Shri Saktijit Dey & Shri M. Balaganeshmb Petroleum Services Llc, Vs. Ddit, Kirtane & Pandit, H-16, Circle-1, Saraswati Colony, Sitaldevi International Taxation, Temple Road, Mahim, Dehradun Mumbai (Appellant) (Respondent) Pan: Aaecm2604H

10% on gross receipts actually, then still its income would be determined only in terms of section 44BB(1) of the Act. There is absolutely no scope for determining income of the assessee under normal provisions of the Act. This is so because of non obstante clause provided u/s 44BB of the Act which reads as under:- “Special provision

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

10 per cent of the cost. In the absence of any basis for valuing the obsolete items at 50 per cent of the cost, the Tribunal could not have upheld the findings of the Assessing Officer .” 40 . Hon’ble Delhi High Court in case cited as CIT vs. Bharat Commerce and Industries Ltd. – 240 ITR 256 (De l.) held that

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

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

10 per cent. of the cost. In the absence of any basis for valuing the obsolete items at 50 per cent. of the cost, the Tribunal could not have upheld the findings of the Assessing Officer.” 40. Hon’ble Delhi High Court in case cited as CIT vs. Bharat Commerce and Industries Ltd. – 240 ITR 256 (Del.) held that

BG INTERNATIONAL 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 and stay application filed by the assessee is dismissed

Bench: Shri R.K. Panda & Ms Suchitra Kambleasstt. Year 2017-18

disallowed expenses on the reason that the 6 Stay No. 14/DDN/2020 assessee has not been able to produce the evidence regarding the incurrence of expenses and rendering of services to BGEPIL by relying on decision of 'the Dispute Resolution Panel/ Tribunal for earlier years The AO also rejected the contention of the assessee that all the services provided to BGEPIL

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

27-12-2011 2008-09 68/DDN/2010-11 31-01-2012 2009-10 328/CIT(A)-1/2011-12 30-03-2012 2011-12 16/ CIT(A)/DDN/14-15 30-03-2015 The Ld. CIT (A) has also held that the assessee would be entitled to claim of depreciation on assets transferred from UP Jal Vidyut Nigam Limited to UJVNL. Copy of the orders

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

27-12-2011 2008-09 68/DDN/2010-11 31-01-2012 2009-10 328/CIT(A)-1/2011-12 30-03-2012 2011-12 16/ CIT(A)/DDN/14-15 30-03-2015 The Ld. CIT (A) has also held that the assessee would be entitled to claim of depreciation on assets transferred from UP Jal Vidyut Nigam Limited to UJVNL. Copy of the orders

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

27-12-2011 2008-09 68/DDN/2010-11 31-01-2012 2009-10 328/CIT(A)-1/2011-12 30-03-2012 2011-12 16/ CIT(A)/DDN/14-15 30-03-2015 The Ld. CIT (A) has also held that the assessee would be entitled to claim of depreciation on assets transferred from UP Jal Vidyut Nigam Limited to UJVNL. Copy of the orders

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

27-12-2011 2008-09 68/DDN/2010-11 31-01-2012 2009-10 328/CIT(A)-1/2011-12 30-03-2012 2011-12 16/ CIT(A)/DDN/14-15 30-03-2015 The Ld. CIT (A) has also held that the assessee would be entitled to claim of depreciation on assets transferred from UP Jal Vidyut Nigam Limited to UJVNL. Copy of the orders

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

27-12-2011 2008-09 68/DDN/2010-11 31-01-2012 2009-10 328/CIT(A)-1/2011-12 30-03-2012 2011-12 16/ CIT(A)/DDN/14-15 30-03-2015 The Ld. CIT (A) has also held that the assessee would be entitled to claim of depreciation on assets transferred from UP Jal Vidyut Nigam Limited to UJVNL. Copy of the orders

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

27-12-2011 2008-09 68/DDN/2010-11 31-01-2012 2009-10 328/CIT(A)-1/2011-12 30-03-2012 2011-12 16/ CIT(A)/DDN/14-15 30-03-2015 The Ld. CIT (A) has also held that the assessee would be entitled to claim of depreciation on assets transferred from UP Jal Vidyut Nigam Limited to UJVNL. Copy of the orders

PSB PAPERS PRIVATE LIMITED,U.S. NAGAR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX , BAREILLY

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

27 of the paper-book, containing the screenshot available in Income Tax Department portal qua the assessee. On perusal of the said screenshot, the reply stated to have been filed by the assessee before the learned PCIT is not discernible thereon. With regard to the computation of total income under section 115JB of the Act, even after the disallowance

SMT. SAPNA GUPTA,HARIDWAR vs. THE PRINCIPAL COMMISSIONER OF INCOEM TAX, DEHRADUN

In the result, the appeal of the assessee is dismissed

Bench: Shri Saktijit Dey & Shri M. Balaganeshassessment Year: 2009-10 Smt. Sapna Gupta, Vs The Pr. Cit, 299, Awas Vikas Colony, Dehradun. Vivek Vihar, Haridwar – 249 407, Uttarakhand. Pan: Acspg4083D (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate & Ms Deepashri Rao, Ca Revenue By : Shri N.S. Jangpangi, Cit, Dr Date Of Hearing : 27.04.2023 Date Of Pronouncement : 08.06.2023 Order Per M. Balaganesh, Am: This Appeal In Ita No.16/Ddn/2021 For Ay 2009-10 Arises Out Of The Order Of The Pr. Commissioner Of Income Tax (Appeals), Dehradun, [Hereinafter Referred To As „Ld. Pcit‟, In Short] In Din & Order No. Itba/Rev/F/Rev5/2020- 21/1031815348(1) Dated 27.03.2021 Against The Order Of Assessment Passed U/S 148/147 R.W.S. 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As „The Act‟) Dated 26Th/28Th December, 2018 By The Ld. Assessing Officer, Ward 1(3)(3), Haridwar (Hereinafter Referred To As „Ld. Ao‟). 2. The Only Issue To Be Decided In This Appeal Is As To Whether The Ld. Pcit Was Justified In Invoking Revisionary Jurisdiction U/S 263 Of The Act In Respect Of Disallowance Of Purchases Of Rs 33,35,500/- In The Facts & Circumstances Of The Instant Case.

27,400/- and M/s Bharat Trading Co. for Rs 45,61,700/-. The ld. AO finally concluded that the purchases made by the 5 assessee from M/s Meet Enterprises and the payment made to the said firm amounting to Rs 73,45,040/- was not genuine and only an accommodation entry. Accordingly, this

M/S. SARASWATI DYNAMICS PVT. LTD.,ROORKEE vs. ACIT, HARIDWAR

In the result, the appeal filed by the assesee is partly allowed for statistical purpose

Bench: Sh. R. K Panda & Sh. Anubhav Sharmaassessment Year: 2009-10 M/S. Saraswati Dynamics Acit Circle Pvt. Ltd. Vs Haridwar C-7, Industrial Estate, Roorkee Pan No.Aaecs6262M (Appellant) (Respondent)

10,159/-. It had claimed deduction u/s. 80IC amounting to Rs.76,27,247/-. 2.1 During the course of assessment proceedings the AO noted that the assessee has claimed deduction u/s. 80 IC of the IT Act which is the 5th year of its claim. From the various details furnished by the assessee he noted that the assessee has claimed deduction