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

41 of 2022, 48 of 2022, 53 of 2022, 67 of 2022. The Page 4 ITA No.95 & 96/DDN/2023 MDDA Ld. AR also drew our attention to the decision of the Hon’ble Supreme Court in the case of Ahmedabad Urban Development Authority, Civil Appeal No. 21762 of 2017. The Ld. AR thus, prayed for relief on this score

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

Appeal is dismissed

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

c) of section 42(1) of the Act, if so, to proceed in accordance with the mandate contained in section 42(1) of the Act and, if not, to give an opportunity to the assessee to claim such expenses to be covered by section 44C of the Act. 4.2 The Appellant has relied upon the accounting procedure

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

41 . In view of the settlement proposition of law discussed in the preceding paras, we are of the considered view that when the taxpayer has prepared obsolete inventory in accordance with the system of accounting regularly followed by it in compliance to section 211 (3C) of the Companies (Accounting Standards) Rules , 2006 as amended and other relevant 26 provisions

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

section 144C(5) of the Income-tax Act, 1961 (“the Act”) on the following among other grounds. Ground No. 1: Erroneous disallowance of payment made towards intra-group services by Appellant to its Associated Enterprise (“AE”) 1.1 The learned Transfer Pricing Officer ("TPO") / AO / DRP grossly erred in law and on facts by making an upward transfer pricing adjustment

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

section 144C(5) of the Income-tax Act, 1961 (“the Act”) on the following among other grounds. Ground No. 1: Erroneous disallowance of payment made towards intra-group services by Appellant to its Associated Enterprise (“AE”) 1.1 The learned Transfer Pricing Officer ("TPO") / AO / DRP grossly erred in law and on facts by making an upward transfer pricing adjustment

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

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.65,56,936/- on earmarked fund (iv) Disallowance of interest under section 14A. (v) Taxability of contract receipt of Rs.8,19,265/- on accrual basis 4. The facts of the case giving rise to these

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

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.65,56,936/- on earmarked fund (iv) Disallowance of interest under section 14A. (v) Taxability of contract receipt of Rs.8,19,265/- on accrual basis 4. The facts of the case giving rise to these

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

c) of the Act. 16.3 The Appellant submits that each grounds of appeal are without prejudice to one another 16.4 The Appellant craves leave to add, alter, amend, substitute and / or modify in any manner whatsoever all or any of the foregoing grounds of objections at or before the hearing ofthe appeal.” 2. Ground Nos. 1 to 5 are regarding

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)

1) ,in holding that relief could not be sought for arrears of salary or receipt of salary in advance, when relief was claimed under Sec 10(10)C( on account of amendment in Law) 2.1 That on the facts and in law the CIT(A) has erred in disallowing Rs 2,41,874, as the amount had not been received

MEENA JOHAR,RISHIKESH vs. DCIT, CENTRAL CIRCLE, DEHRADUN

C of the Act but in ITA Nos. 7098 & 7099/De/2017 ITA Nos. 7095 & 7097/Del/2017 Manav Johar & Ors vs. DCIT relation to Section 153A of the Act as well. Consequently, this Court does not find any error having been committed by the ITAT in accepting the plea of the Assessee that there is no incriminating document which was seized

MANSI JOHAR,RISHIKESH vs. DCIT, CENTRAL CIRCLE, DEHRADUN

C of the Act but in ITA Nos. 7098 & 7099/De/2017 ITA Nos. 7095 & 7097/Del/2017 Manav Johar & Ors vs. DCIT relation to Section 153A of the Act as well. Consequently, this Court does not find any error having been committed by the ITAT in accepting the plea of the Assessee that there is no incriminating document which was seized

MANAV JOHAR,RISHIKESH vs. DCIT, CENTRAL CIRCLE, DEHRADUN

C of the Act but in ITA Nos. 7098 & 7099/De/2017 ITA Nos. 7095 & 7097/Del/2017 Manav Johar & Ors vs. DCIT relation to Section 153A of the Act as well. Consequently, this Court does not find any error having been committed by the ITAT in accepting the plea of the Assessee that there is no incriminating document which was seized

MEENA JOHAR,RISHIKESH vs. DCIT, CENTRAL CIRCLE, DEHRADUN

C of the Act but in ITA Nos. 7098 & 7099/De/2017 ITA Nos. 7095 & 7097/Del/2017 Manav Johar & Ors vs. DCIT relation to Section 153A of the Act as well. Consequently, this Court does not find any error having been committed by the ITAT in accepting the plea of the Assessee that there is no incriminating document which was seized

MANSI JOHAR,RISHIKESH vs. DCIT, CENTRAL CIRCLE, DEHRADUN

C of the Act but in ITA Nos. 7098 & 7099/De/2017 ITA Nos. 7095 & 7097/Del/2017 Manav Johar & Ors vs. DCIT relation to Section 153A of the Act as well. Consequently, this Court does not find any error having been committed by the ITAT in accepting the plea of the Assessee that there is no incriminating document which was seized

MANAV JOHAR,RISHIKESH vs. DCIT, CENTRAL CIRCLE, DEHRADUN

C of the Act but in ITA Nos. 7098 & 7099/De/2017 ITA Nos. 7095 & 7097/Del/2017 Manav Johar & Ors vs. DCIT relation to Section 153A of the Act as well. Consequently, this Court does not find any error having been committed by the ITAT in accepting the plea of the Assessee that there is no incriminating document which was seized

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.”

disallowing depreciation is not as per law. As per settled accounting principles, every rupee invested in the business has a cost. The cost of borrowing from the bank is known to the business depending on the rate of interest but that does not mean that the capital introduced in the form of shareholders fund has no cost. In the present

LATE SHRI CHANDRA PRAKASH CHAUDHARY THROUGH LEAGAL HEIR MRS. ANJU CHAUDHARY,NEW DELHI vs. DCIT, CIRCLE- 1 , DEHRADUN

c) C68F9 to the assessee. All the transactions done by the assessee during the such d) period are delivery based, hence loss of Rs. 41,04,315 should be allowed to the assessee as normal business loss. 4. The Appellant craves leave to add, alter or modify the aforesaid grounds of appeal either at or before the hearing of appeal

LATE SHRI CHANDRA PRAKASH CHAUDHARY THROUGH LEAGAL HEIR MRS. ANJU CHAUDHARY,NEW DELHI vs. DCIT, CIRCLE- 1 , DEHRADUN

c) C68F9 to the assessee. All the transactions done by the assessee during the such d) period are delivery based, hence loss of Rs. 41,04,315 should be allowed to the assessee as normal business loss. 4. The Appellant craves leave to add, alter or modify the aforesaid grounds of appeal either at or before the hearing of appeal