IFCI LTD. vs. ADDL. CIT, CIRCLE-11(1),,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

gain, or loss accrues to the assessee. Further the Page 9 of 29 argument of the assessee that appellant recorded the diminution in the value of investment because of the RBI guidelines dated 9/11/2000 which mandated the financial institutions to not to record any income on securities if the principal or interest is in arrears and required to classify

DCIT, CIRCLE-II(I) vs. I.F.C.I. LTD.,,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

gain, or loss accrues to the assessee. Further the Page 9 of 29 argument of the assessee that appellant recorded the diminution in the value of investment because of the RBI guidelines dated 9/11/2000 which mandated the financial institutions to not to record any income on securities if the principal or interest is in arrears and required to classify

DCIT (LTU), NEW DELHI vs. M/S. MAWAWAN SUGAR LTD., NEW DELHI

In the result both the grounds of appeal of revenue is dismissed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishidcit (Ltu), Mawana Sugar Ltd, (Presently Known As M/S. Siel Ltd., 5Th Nbcc Plaza, Vs. Pusp Vihar, Floor, Kirti Mahal, 19, New Delhi Rajendra Place, New Delhi Pan:Aahcs4120R (Appellant) (Respondent) Appellant By : Sh. Trandeep Singh, Ca Respondent By : Sh.Balwan Chauhan, Sr. Dr Date Of Hearing 26.11.2015 Date Of Pronouncement 04.12.2015 O R D E R Per Prashant Maharishi, A. M. 01. The Present Appeal Filed By The Revenue Is Directed Against The Order Of Learned Cit(A)-Ix, New Delhi Dated 30.09.2009 Passed For The Assessment Year 2003-04. The Revenue Raised The Following Grounds Of Appeal: “1. On The Facts & In The Circumstances Of The Case, The Ld Cit(A) Has Erred In Holding That There Was Valid ‘Demerger’ U/S 2(19Aa) Of The Act. 2. On The Facts & In The Circumstances Of The Case, The Ld Cit(A) Has Erred In Holding That The Assessee Is To Be Allowed Carry Forward Of Loss & Unabsorbed Deprecation Of Rs.46,57,12,585/-“ 02. This Company Was Incorporated On 26.12.2002 I Under The Name & Style Of Siel Sugar Sugars Limited & Subsequently The Name Of This Assessee Was Changed W.E.F 16.06.2004 To Mawana Sugars Limited. The Facts In Brief Of The Case Are That The Assessee Was Engaged In The Business Of Manufacture & Sale Of Sugar. The Assessee Filed Return Of Income On 24.10.2003 Declaring Loss Of Rs. 26,79,18,903/-. The Case Was Selected For Scrutiny & Processed U/S 143(1) On 19.02.2004. Notices U/S 143(2) Was Issued. The Assessing Officer Noticed In His Order That The Assessee Failed To Furnish Accurate Particulars Of Its Income By Wrongly Claiming Carry

gains of business or profession" (not being a loss sustained in a speculation business) which such predecessor firm or the proprietary concern or amalgamating company or demerged company, would have been entitled to carry forward and set off under the provisions of section 72 if the reorganisation of business or amalgamation or demerger had not taken place; … (b) "unabsorbed depreciation

BHARTI TELEMEDIA LIMITED,NEW DELHI vs. DCIT, CIRCLE-4(2), NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

capital in nature and has to be amortized as per the provision of section 35ABB of the Act. 4. The appellant craves leave to add, alter or amend any/all of the grounds of appeal before or during the course of the hearing of the appeal. 3. The brief facts of the case are that the assessee had entered into

BHARTI TELEMEDIA LIMITED,NEW DELHI vs. DCIT, CIRCLE-4(2), NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

capital in nature and has to be amortized as per the provision of section 35ABB of the Act. 4. The appellant craves leave to add, alter or amend any/all of the grounds of appeal before or during the course of the hearing of the appeal. 3. The brief facts of the case are that the assessee had entered into

DCIT, CIRCLE 4(2), NEW DELHI vs. M/S BHARTI TELEMEDIA LTD, NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

capital in nature and has to be amortized as per the provision of section 35ABB of the Act. 4. The appellant craves leave to add, alter or amend any/all of the grounds of appeal before or during the course of the hearing of the appeal. 3. The brief facts of the case are that the assessee had entered into

DCIT, CIRCLE 4(2), NEW DELHI vs. MS BHARTI TELEMEDIA LTD, NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

capital in nature and has to be amortized as per the provision of section 35ABB of the Act. 4. The appellant craves leave to add, alter or amend any/all of the grounds of appeal before or during the course of the hearing of the appeal. 3. The brief facts of the case are that the assessee had entered into

DALMIA CEMENT (BHARAT) LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Gains of Business or Profession(Not being a loss sustained in speculation Loss is only mentioned. THE LOSS SUCH AS LOSS ON HOUSE PROPERTY/LOSS ON CAPITAL IS NOT INCLUDED. 5.2) Further in the Sec.74 dealing with capital loss, carry forward/set off of capital loss by the amalgamating company/amalgamated company is not discussed and the applicability of the Section is subject

DALMIA CEMENT (BHARAT) LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Gains of Business or Profession(Not being a loss sustained in speculation Loss is only mentioned. THE LOSS SUCH AS LOSS ON HOUSE PROPERTY/LOSS ON CAPITAL IS NOT INCLUDED. 5.2) Further in the Sec.74 dealing with capital loss, carry forward/set off of capital loss by the amalgamating company/amalgamated company is not discussed and the applicability of the Section is subject

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 4(2), DELHI, I.P.ESTATE vs. BUREAU VERITAS CONSUMER PRODUCTS SERVICES(INDIA) PVT. LTD., LAJPAT NAGAR

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Gains of Business or Profession(Not being a loss sustained in speculation Loss is only mentioned. THE LOSS SUCH AS LOSS ON HOUSE PROPERTY/LOSS ON CAPITAL IS NOT INCLUDED. 5.2) Further in the Sec.74 dealing with capital loss, carry forward/set off of capital loss by the amalgamating company/amalgamated company is not discussed and the applicability of the Section is subject