DCIT, NEW DELHI vs. M/S. BHARAT SANCHAR NIGAM LTD., NEW DELHI

In the result, assessee’s appeal is allowed to the extent as mentioned above on the preliminary issue and the departmental appeal is dismissed

Bench: Smt Diva Singh & Sh.J.S.Reddyi.T.A .No.-3304/Del/2010 (Assessment Year-2004-05) Bharat Sanchar Nigam Ltd., Vs Dcit, Corporate Office, Taxation Section, Circle-2(1), Room No.-398, First Floor, Bharat Sanchar Bhawan, C.R.Building, I.P.Estate, Janpath, New Delhi-1110001. New Delhi Pan-Aabcb5576G (Appellant) (Respondent)

Capital Services [2000] 5 SCC 515; and Padman Sundra Rao vs State of Tamil Page 12 of 44 I.T.A .No.-3304 & 3386/Del/2010 Nadu [2002] 255 ITR 147 (SC), for the proposition that it is one of the fundamental principles of interpretation of statute that omissions in statute as a general Rule cannot be supplied by construction. It was submitted that

CIT vs. TEI TECHNOLOGIES PVT LTD

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Capital gains” under section 74(1) and no tax holiday deficiency under section 80J(3) in respect of any of the assessment years comprised in the tax holiday period will, in so far as such loss or deficiency relates to the business of industrial undertaking, be carried forward or set off in computing the income of the assessment year immediately

CIT vs. TEI TECHNOLOGIES PVT LTD

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Capital gains” under section 74(1) and no tax holiday deficiency under section 80J(3) in respect of any of the assessment years comprised in the tax holiday period will, in so far as such loss or deficiency relates to the business of industrial undertaking, be carried forward or set off in computing the income of the assessment year immediately

ACIT, NEW DELHI vs. M/S. NIIT TECHNOLOGIES LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed and cross objection of the assessee is allowed for statistical purposes

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2006-07

Capital Gain 64,46,187 Income from Other Sources 1,68,98,037 50,90,742 Less : Brought forward unabsorbed depreciation 14,22,71,036 Gross Total Loss (13,71,80,294) From the above table, the Assessing Officer observed that the assessee has claimed deduction u/s. 10B without considering the brought forward unabsorbed depreciation and that the assessee

COMMISSIONER OF INCOME TAX DELHI -II vs. KEI INDUSTRIES LIMITED

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.K.GAUBA

capital gains). Under section 72, a provision has been made for carry forward and setting off of a loss sustained against the head of profits and gains of business or profession. Under section 72, where a loss which has been sustained under the head of profits and gains of business or profession cannot be set-off against income under

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

UNITEDHEALTH GROUP INFORMATION SERVICES PVT. LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE- 9, NEW DELHI

Bench: Shri N.K.Billaiya & Shri Kuldip Singh

capital adjusted margin of the comparables any further adjustment on account of delayed payment of outstanding receivables from AE would distort the entire picture of re- characterization the transactions. In other words, transactions as to outstanding receivables cannot be re-characterized as loan deemed to be advanced by the taxpayer to its AE. We are of the considered view that

(Now known as Sony India Limited)

capital, transportation, level of the market, i.e. retail or wholesale and so forth. The Rules and the analytical steps. 71. Sub-Sections (1) and (2) to Section 92C are applicable to the assessed, as well as the Assessing Officer invoking power under Sub-Section (3) to Section 92C of the Act. As noted above, sub-section (2) to Section

DCIT, NEW DELHI vs. M/S UNITED HEALTH GROUP INFORMATION SERVICES PVT. LTD, NEW DELHI

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri R.K. Panda & Shri Amit Shuklaassessment Year: 2011-12 Optum Global Solutions (India) Vs Dcit, Private Limited Circle-27(1), (Formerly Known As United Health Cr Building, Group Information Services Pvt. New Delhi. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q Assessment Year: 2011-12 Dcit, Vs Optum Global Solutions (India) Circle-27(1), Private Limited Cr Building, (Formerly Known As United Health New Delhi Group Information Services Pvt. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q (Appellant) (Respondent) Assessee By : Shri Nageshwar Rao & Shri S. Chakraborty, Advocates Revenue By : Shri Anupam Kant Garg, Cit, Dr Date Of Hearing : 16.06.2020 Date Of Pronouncement : 25.08.2020

gains of such undertaking or unit or enterprise or eligible business, as the case may be" made it clear that a unit seeking deduction under Section 10B would be eligible to do so only insofar as such income was directly attributable to the business of export. Any income that might be merely incidental to the business of the undertaking

UNITED HEALTH GROUP INFORMATION SERVICES PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri R.K. Panda & Shri Amit Shuklaassessment Year: 2011-12 Optum Global Solutions (India) Vs Dcit, Private Limited Circle-27(1), (Formerly Known As United Health Cr Building, Group Information Services Pvt. New Delhi. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q Assessment Year: 2011-12 Dcit, Vs Optum Global Solutions (India) Circle-27(1), Private Limited Cr Building, (Formerly Known As United Health New Delhi Group Information Services Pvt. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q (Appellant) (Respondent) Assessee By : Shri Nageshwar Rao & Shri S. Chakraborty, Advocates Revenue By : Shri Anupam Kant Garg, Cit, Dr Date Of Hearing : 16.06.2020 Date Of Pronouncement : 25.08.2020

gains of such undertaking or unit or enterprise or eligible business, as the case may be" made it clear that a unit seeking deduction under Section 10B would be eligible to do so only insofar as such income was directly attributable to the business of export. Any income that might be merely incidental to the business of the undertaking

ACIT, CIRCLE-7(1) vs. SYSTEM AMERICA INDIA LTD.,,

In the result, appeal of the assessee is partly allowed and that of the Department is dismissed

Bench: Shri N.K. Saini & Shri Kuldip Singh

gains during the A.Y. 2001-02, the transferor clearly admits that the transfer took place during the A.Y. 2001-02. The learned counsel could not rebut the above findings with any cogent materials. He has merely relied on a photo copy of the “agreement to sell” purported to have been entered on 30/3/2000 between Mrs. Prem Lata (transferor

SYSTEMS AMERICA (INDIA) LTD. vs. ADDL. COMMISSIONER OF INCOME TAX,,

In the result, appeal of the assessee is partly allowed and that of the Department is dismissed

Bench: Shri N.K. Saini & Shri Kuldip Singh

gains during the A.Y. 2001-02, the transferor clearly admits that the transfer took place during the A.Y. 2001-02. The learned counsel could not rebut the above findings with any cogent materials. He has merely relied on a photo copy of the “agreement to sell” purported to have been entered on 30/3/2000 between Mrs. Prem Lata (transferor

THE COMMISSIONER OF INCOME TAX vs. REGENCY CREATIONS LTD

gains derived by an undertaking from export of articles or things or computer software manufactured or produced by it. The deduction is available for a period of ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertaking begins to manufacture or produce such articles or things or computer software. The tax benefit

M/S R SYSTEMS INTERNATIONAL LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee in ITA No

Bench: Shri N.K. Billaiya & Shri Sudhanshu Srivastava[A.Y 2011-12]

10B, in Hindustan Unilever Ltd. v. Deputy Commissioner of Income Tax MANU/MH/0417/2010: [2010] 325 ITR 102 (Bom.) at paragraph 24. The submission of the Revenue placed its reliance on the literal reading of Section 10A under which a deduction of such profits and gains as are derived by an undertaking from the export of articles or things or computer software

ACIT, DEHRADUN vs. M/S. WINDLASS STEEL CRAFT, DEHRADUN

In the result, the appeal of the department is dismissed

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 5506/Del/2012 : Asstt. Year : 2009-10 Asstt. Commissioner Of Income Tax, Vs M/S Windlass Steel Craft, Circle-1, 11-A, Rajpur Road, Dehradun Dehradun (Appellant) (Respondent) Pan No. Aaafw0958M Assessee By : Sh. Ashwani Kumar, Ca Revenue By : Sh. P. Dum Kanunjna, Sr. Dr Date Of Hearing : 30.09.2015 Date Of Pronouncement : 06.11.2015 Order Per N. K. Saini, Am:

gains as are derived by it from the export of articles or things for a period of 10 consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertaking begins to manufacture or produce articles or things or computer 14 Windlass Steel Craft software, as the case may be and that there are also

ACIT (LTU), NEW DELHI vs. MAX NEW YORK LIFE INSURANCE COMPANY LTD., NEW DELHI

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal & Shri Sudhanshu Srivastavaassessment Year : 2002-03

gains" or "Income from other sources", or in section 199 or in sections 28 to 43B, and then secondly, by computing income in terms of section 92 of the Act, by making addition on account of transfer pricing adjustment, if warranted. The additional ground raised under Rule 27 of the ITAT Rules, 1963, is, therefore, dismissed. 21. Now we take

NEC HCL SYSTEM TECHNOLOGIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result we confirm the finding the of the CIT (A) regarding deletion of disallowance u/s 40a (i) of The Income tax Act of Rs

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

Capital gains • Income from other sources 5.2 The income computed under various heads of income in accordance with the provisions of Chapter IV of the IT Act shall be aggregated in accordance with the provisions of Chapter VI of the IT Act, 1961. This means that first the income/loss from various sources i.e. eligible and ineligible units, under the same

DCIT, GURGAON vs. M/S. Q.H. TALBROS LTD., GURGAON

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Inturi Rama Rao & Ms. Suchitra Kambleassessment Year: 2007-08 Acit, Circle-2, Vs. M/S Qh Talbros Ltd., Plot No. 400, Gurgaon Udyog Vihar, Phase-Iii, Gurgaon (Pan: Aaaco2191D) (Appellant) (Respondent) & Assessment Year: 2008-09 Dcit, Circle-2, Vs. M/S Qh Talbros Ltd., Plot No. 400, Gurgaon Udyog Vihar, Phase-Iii, Gurgaon (Pan: Aaaco2191D) (Appellant) (Respondent) Appellant By :Smt. Anjula Jain, Sr. Dr Respondent By : Sh. V.K. Aggarwal, Ar Date Of Hearing: 29.10.2015 Date Of Pronouncement: 04.11.2015 Order Per Inturi Rama Rao, A.M.: The Present Appeals Filed By The Revenue Are Directed Against The Orders Of Cit(A), Faridabad, Dated 27.12.2011 & 20.12.2012 Passed For The Assessment Years 2007-08 & 2008-09 Respectively. The Revenue Raised The Following Grounds Of Appeal In Ita No. 1321/Del/2012:

capital loan, as sale proceeds etc., do not have any different colour of business receipts and have no separate identification. Sources have no concern whatsoever. 3. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred on facts and in law in deleting the disallowance of interest liability of Rs. 65,07,805/- made