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

disallowance of expenses on various grounds. The assessee pleaded before the ld AO that its income from the execution of the two contracts should be determined in accordance with the provisions of section 44BB(1) of the Act. The assessee also gave detailed note on contract income earned by it with ONGC, Petrogas E&P LLC. As under:- 3.0 Detailed

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

disallowance of set off of losses to the file of AO with the direction to determine the nature of losses on the basis of documentary evidence and in view of amended section 43(5) of the Act should allow the set off of losses incurred by the assessee from futures and options segment of stock market, if they are eligible

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

disallowance of set off of losses to the file of AO with the direction to determine the nature of losses on the basis of documentary evidence and in view of amended section 43(5) of the Act should allow the set off of losses incurred by the assessee from futures and options segment of stock market, if they are eligible

INSTITUTE OF CLINICAL RESEARCH INDIA SOCIETY,DEHRADUN vs. CIT(A), DEHRADUN

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri M. Balaganesh(Through Video Conferencing) Assessment Year: 2012-13 Institute Of Clinical Research Vs. Commissioner Of Income India Society, Tax (Appeals), 1St Floor, Building No.1, Dehradun Treenetra Vihar, Near Kargt Chowk, Dehradun Pan :Aabai3710P (Appellant) (Respondent) Assessee By None Department By Sh. Amar Pal Singh, Sr. Dr

1) to Section 11(5). Section 13 provides exception to Section 11 wherein such an income can be excluded from the exempt income of the trust. Thus, Section 11 to 13 provides for application of income by a trust for charitable purposes and to that extent, subject to certain conditions, income of the trust is treated to be exempted from

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

In the result, the appeal of the assessee is allowed

disallowance made as per para 5.1 of the draft assessment order regarding "Depreciation and Amortization expenses" of Rs.49,86,844/-, has been perused and found not acceptable. The assessee could not prove the genuineness of this claim of depreciation and amortization expenses even during these proceedings. No documentary evidence was filed in support of their claim even now. The assessee

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

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

disallow Rs.3,43,90,634/- being the expenses holding that since the said expenses had been incurred for prospecting new business opportunities, therefore, the same were to be treated as pre-operative in nature and not allowable under section 37(1

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

disallow Rs.3,43,90,634/- being the expenses holding that since the said expenses had been incurred for prospecting new business opportunities, therefore, the same were to be treated as pre-operative in nature and not allowable under section 37(1

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

Appeal is dismissed

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

section 42(1) of the Act. Accordingly, such expenses incurred by the assessee were held to be in the nature of head office expenditure allowable only to the extent of 5% of the adjusted total income of the appellant. The AO did not, however, make any addition since the said expenses had already been disallowed

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 42(1) of the Act. Accordingly, such expenses incurred by the assessee were held to be in the nature of head office expenditure allowable only to the extent of 5% of the adjusted total income of the appellant. The AO did not, however, make any addition since the said expenses had already been disallowed

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

43,25,025/- under various heads as mentioned in the above table may not be treated as income for assessment year 2017-18. Rejecting the various explanations given by the assessee and following the order for the preceding year the AO held that the amount received by the assessee form BGEPIL is taxable and cannot be accepted to be reimbursement

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. UTTARANCHAL JAL VIDYUT NIGAM LTD., DEHRADUN

In the result, the appeal of the revenue is dismissed

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

Section 43(1) of the Act. This has been negated by the Hon’ble Delhi High Court vide order dated 09th May 2013 reported in 355 ITR 188(Del) by observing as under: 7 ITA No.5311 & Ors. “26. The scheme of hiving off the business of telecom services by Government of India to a corporate entity entailed incorporation

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

Section 43(1) of the Act. This has been negated by the Hon’ble Delhi High Court vide order dated 09th May 2013 reported in 355 ITR 188(Del) by observing as under: 7 ITA No.5311 & Ors. “26. The scheme of hiving off the business of telecom services by Government of India to a corporate entity entailed incorporation

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

Section 43(1) of the Act. This has been negated by the Hon’ble Delhi High Court vide order dated 09th May 2013 reported in 355 ITR 188(Del) by observing as under: 7 ITA No.5311 & Ors. “26. The scheme of hiving off the business of telecom services by Government of India to a corporate entity entailed incorporation

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

Section 43(1) of the Act. This has been negated by the Hon’ble Delhi High Court vide order dated 09th May 2013 reported in 355 ITR 188(Del) by observing as under: 7 ITA No.5311 & Ors. “26. The scheme of hiving off the business of telecom services by Government of India to a corporate entity entailed incorporation

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

Section 43(1) of the Act. This has been negated by the Hon’ble Delhi High Court vide order dated 09th May 2013 reported in 355 ITR 188(Del) by observing as under: 7 ITA No.5311 & Ors. “26. The scheme of hiving off the business of telecom services by Government of India to a corporate entity entailed incorporation

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

1 to 8. It may be brought to your kind notice that for the AY 2005-06 most of the relief was allowed by the Ld. Commissioner of I. Tax Appeals, as such no appeal was filed by the assessee for the aforesaid Assessment Year. However, the department had filed an appeal before the Hon’ble ITAT against the order