ACIT, CIRCLE- 3, NAINITAL vs. KUMAON MANDAL VIKAS NIGAM LTD., NAINITAL

In the result, both appeals of the Revenue are partly allowed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

38,08,610/- on accrual basis (viii) Disallowance of interest under section 14A. 3.1 Vide 5 grounds; the Revenue has raised following issues (i) Disallowance of employees’ contribution in ECGI under section 36(1)(va) r.w.s.2(24)(x) of the Act. (ii) Disallowance of interest of Rs.50,50,442/- on Government loans/ advances (iii) Disallowance of interest of Rs.65

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(1), DEHRADUN, DEHRADUN vs. THDC INDIA LIMITED, TEHRI

In the result, the appeal of the Revenue is dismissed as above

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishra

section 80IA of the Act 2. Addition on account of late payment 280,34,10,000/- surcharge leviable on outstanding debtors as on 31.03.2017 3. Disallowance of provision of gratuity u/s 7,38

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

38. Where an assessee has filed his return of income as prescribed by law, even if as a consequence of search carried out under section 132 and in consequence of notice issued under section 153A, the assessee is obviously entitled for claiming corresponding deductions provided in law. The deduction claimed in a return filed under section 153A cannot be denied

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

10,000. Therefore, the total volume of loan issue transactions decreased considerably indicating towards scarcity of funds in the global financial markets. Further, out of the total loan transactions, 6,534 transactions were having fixed interest rate structure i.e. during the post crisis period more than 65% of the total transactions were executed with fixed rate of interest as compared

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

10,000. Therefore, the total volume of loan issue transactions decreased considerably indicating towards scarcity of funds in the global financial markets. Further, out of the total loan transactions, 6,534 transactions were having fixed interest rate structure i.e. during the post crisis period more than 65% of the total transactions were executed with fixed rate of interest as compared

MUSSOORIE DEHRADUN DEVELOPMENT AUTHORITY,MDDA, TRANSPORT NAGAR DEHRADUN vs. ASSISTANT COMMISSIONER OF INCOME TAX, INCOME TAX DEPARTMENT DEHRADUN

In the result, both appeals of the assessee are dismissed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

disallowance of Rs.28,080/- under section 43B r.w.s. 36(1)(va) of the Act is concerned, the Ld. AR submitted that the amount of Rs.28,080/- had been paid after the due date specified in the said Provident Act. However, the same had been paid before filing of the ITR. The Ld. AR submitted that the issue involved in this

MUSSOORIE DEHRADUN DEVELOPMENT AUTHORITY,MDDA, TRANSPORT NAGAR DEHRADUN vs. ASSISTANT COMMISSIONER OF INCOME TAX, NATIONAL FACELESS ASSESSMENT CENTRE

In the result, both appeals of the assessee are dismissed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

disallowance of Rs.28,080/- under section 43B r.w.s. 36(1)(va) of the Act is concerned, the Ld. AR submitted that the amount of Rs.28,080/- had been paid after the due date specified in the said Provident Act. However, the same had been paid before filing of the ITR. The Ld. AR submitted that the issue involved in this

PURAN SINGH NEGI,HALDWANI vs. THE ASSIST COMMISSIONER OF INCOME TAX , NANITAL

In the result, the appeal of the assessee is allowed for statistical purpose

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.I.T.A. No. 33/Ddn/2020 (A.Y 2016-17)

disallowed. Accordingly, income of the assessee was assessed at Rs. 38,67,996/- against the returned income as per the revised return of income at Rs. 37,17,350/-. The Ld.CIT(A) by considering the relevant provision u/s 10(1) & 10(10C) of the Act, found that claim made by the assessee is genuine and based on bonafide ground even

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 of Guidance Note on Tax Audit under section 44AB of the Act issued by the Institute of Chartered Accountants of India wherein it has been mentioned that view taken by tax auditor is not binding on the appellant . The relevant paragraph has been reproduced as under: It will be appreciated that even Guidance Note on Tax Audit recognizes 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. Ground No.7 is regarding disallowance of branch office expenditure and ground No. 8 is regarding disallowance of expenditure incurred due to non-producing of production sharing contracts. 11. We have heard ld. Sr. Counsel as well as ld. DR and carefully perused the orders of the authorities below on this issue as well as the decision of this Tribunal

DCIT, CIRCLE-2(2)(1), KASHIPUR vs. NAINI TISSUES LTD, U S NAGAR

In the result, appeal of the Revenue is 10

Bench: Shri Anil Chaturvedi & Shri Challa Nagendra Prasad

38,530/-. Aggrieved by the order of the A.O, the assessee carried the matter in appeal before the Ld. CIT(A) who vide order dated 31.07.2018 in Appeal No.10212/CIT(A)/HLD/2017-18 allowed the appeal of assessee. 3. Aggrieved by the order of the Ld. CIT(A), the Revenue is now in appeal before the Tribunal by raising the following grounds

KSHIPRA DHAWAN,SAHARANPUR vs. DCIT CEN CIR DDN, DEHRADUN

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

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singh

38, the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession",— xxxxxx (ia) thirty per cent of any sum payable to a resident, on which tax is deductible at source under Chapter XVII-B and such tax has not been deducted or, after deduction, has not been paid

KSHIPRA DHAWAN,SAHARANPUR vs. DCIT CEN CIR DDN, DEHRADUN

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

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singh

38, the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession",— xxxxxx (ia) thirty per cent of any sum payable to a resident, on which tax is deductible at source under Chapter XVII-B and such tax has not been deducted or, after deduction, has not been paid

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

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

38,89,94,500/-. In this regard, vide order dated 28th March 2013, it has been held by the AO as under: “During the year under consideration it is noticed that the opening WDV for the assets for A.Y. 2004-05 do not tally with the closing WDV for A.Y.2003-04. Hence for the purpose of coming to the amount

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

38,89,94,500/-. In this regard, vide order dated 28th March 2013, it has been held by the AO as under: “During the year under consideration it is noticed that the opening WDV for the assets for A.Y. 2004-05 do not tally with the closing WDV for A.Y.2003-04. Hence for the purpose of coming to the amount

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

38,89,94,500/-. In this regard, vide order dated 28th March 2013, it has been held by the AO as under: “During the year under consideration it is noticed that the opening WDV for the assets for A.Y. 2004-05 do not tally with the closing WDV for A.Y.2003-04. Hence for the purpose of coming to the amount

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

38,89,94,500/-. In this regard, vide order dated 28th March 2013, it has been held by the AO as under: “During the year under consideration it is noticed that the opening WDV for the assets for A.Y. 2004-05 do not tally with the closing WDV for A.Y.2003-04. Hence for the purpose of coming to the amount