M.B. PETROLEUM SERVICES LLC,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), DEHRADUN

In the result, the appeal of the assessee is allowed

disallowances made by the ld AO either u/s 37(1) of the Act 9 ITA No.6608/Del./2016 or section 40(a)(i) of the Act would not survive. Similarly, the adjudication of additional ground for claim of income tax depreciation u/s 32

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

section 37 (1) of the act . It is al so not the argument of the revenue that such expenditure incurred by the Assessee is capital in nature. Furthermore, the Ld. AR has also pressed into several decisions which say that that expenses incurred towards extension of business which was subsequently abandon or did not fructify , are allowable. Therefore in view

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

ACIT, NAINITAL vs. M/S. 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

Section 2(24)(x) r.w.s. 36(1)(va) and 43B of the Act. The Ld. Senior Departmental Representative (hereinafter ‘Ld. DR’), placing reliance on the decision of the Hon’ble Supreme Court in the case of Checkmate Services P. Ltd. [(2022) 448 ITR 518 (SC)], requested for upholding of the disallowances, to which the Ld. Counsel seemed

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

Section 2(24)(x) r.w.s. 36(1)(va) and 43B of the Act. The Ld. Senior Departmental Representative (hereinafter ‘Ld. DR’), placing reliance on the decision of the Hon’ble Supreme Court in the case of Checkmate Services P. Ltd. [(2022) 448 ITR 518 (SC)], requested for upholding of the disallowances, to which the Ld. Counsel seemed

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

32,059 claimed by the Appellant. Ground No. 15: Disallowance of exchange loss on interest on BGAP loan 15.1 The learned AO / DRP erred in law and in facts in disallowing exchange loss of Rs.58,45,008 on account of foreign exchange fluctuation for loan taken during the year. Ground No. 16: Claim for deduction of cess

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

32,059 claimed by the Appellant. Ground No. 15: Disallowance of exchange loss on interest on BGAP loan 15.1 The learned AO / DRP erred in law and in facts in disallowing exchange loss of Rs.58,45,008 on account of foreign exchange fluctuation for loan taken during the year. Ground No. 16: Claim for deduction of cess

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

1,80,16,32,708 from India are not reimbursement of expenses towards activities performed by the assessee for group entities in India and hence, be regarded as “income” taxable under the Act as well as under the Double Taxation Avoidance Agreement between India and the United kingdom (‘DTAA’). According to the AO the clause in Production Sharing contract

SANJAY BANSAL,NEW DELHI vs. DCIT CENTRAL CIRCLE, DEHRADUN

In the result, appeal of the assessee is allowed

Bench: Sh. Anil Chaturvedi & Sh. Challa Nagendra Prasad

1. That the notice issued u/s 153A of the Act and the assessment order passed u/s 153A r.w.s. 143(3) of the Income Tax Act (‘Act’) is illegal, bad in law and without jurisdiction. 2. That on the facts and circumstances of the case and in law the CIT(A) has grossly erred in upholding the assessment order and additions

SANJAY BANSAL,DEHRADUN vs. DCIT CENTRAL CIRCLE, DEHRADUN

In the result, appeal of the assessee is allowed

Bench: Sh. Anil Chaturvedi & Sh. Challa Nagendra Prasad

1. That the notice issued u/s 153A of the Act and the assessment order passed u/s 153A r.w.s. 143(3) of the Income Tax Act (‘Act’) is illegal, bad in law and without jurisdiction. 2. That on the facts and circumstances of the case and in law the CIT(A) has grossly erred in upholding the assessment order and additions

SANJAY BANSAL,DEHRADUN vs. DCIT CENTRAL CIRCLE, DEHRADUN

In the result, appeal of the assessee is allowed

Bench: Sh. Anil Chaturvedi & Sh. Challa Nagendra Prasad

1. That the notice issued u/s 153A of the Act and the assessment order passed u/s 153A r.w.s. 143(3) of the Income Tax Act (‘Act’) is illegal, bad in law and without jurisdiction. 2. That on the facts and circumstances of the case and in law the CIT(A) has grossly erred in upholding the assessment order and additions

SANJAY BANSAL,DEHRADUN vs. DCIT CENTRAL CIRCLE, DEHRADUN

In the result, appeal of the assessee is allowed

Bench: Sh. Anil Chaturvedi & Sh. Challa Nagendra Prasad

1. That the notice issued u/s 153A of the Act and the assessment order passed u/s 153A r.w.s. 143(3) of the Income Tax Act (‘Act’) is illegal, bad in law and without jurisdiction. 2. That on the facts and circumstances of the case and in law the CIT(A) has grossly erred in upholding the assessment order and additions

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

section 37 (1) of the act. It is also not the argument of the revenue that such expenditure incurred by the Assessee is capital in nature. Furthermore, the Ld. AR has also pressed into several decisions which say that that expenses incurred towards extension of business which was subsequently abandon or did not fructify, are allowable. Therefore in view

ACIT, CIRCLE- 2, DEHRADUN vs. RAJESH BALLABH, DEHRADUN

In the result appeal of the Revenue is dismissed

Bench: Shri R.K.Panda & Shri K.Narasimha Chary

1%. Learned Assessing Officer held that inasmuch as the assessee failed to comply with the provisions under section 40(a)(ia) of the Act, a sum of Rs. 3,65,32,392/-has to be added to the income of the assessee. 4. Learned Assessing Officer further observed that there are vehicle running expenses to the tune

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.”

disallowance of depreciation on the same as per section 32 of the IT. Act, 1961, read with section 43 which defined “Actual Cost”. What was the issue here, was the cost of the assets to the assessee and not the existence of the assets. As the assessee had failed to prove beyond doubt that the assets that were taken over

IMSI (INDIA) PVT. LTD.,DEHRADUN vs. JCIT, DEHRADUN

In the result, all the three appeals filed by the assessee in ITA

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

Section 3.0 of this SOW." From the aforesaid agreements entered between the assessee and its clients, it is clear that assigned work was to be done by the employees of the assessee at the sites of the clients and there was no direct contract between the clients and employees. All the payments in lieu of the work done

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

32 of the I.T. Act, which worked out at Rs. “YYYYY/-“as per provisional accounts produced by the assessee. 4. The appeals involved two issues namely 1) Depreciation 2) Prior Period expenses Depreciation: 5. This issue stands adjudicated by the order of ITAT in ITA No.5724/Del/2015 dated31-05-2021. The operative portion of the said order is reproduced for ready