COMMISSIONER OF INCOME TAX vs. GOVIND NAGAR SUGAR LIMITED

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

carry forward of unabsorbed loss including unabsorbed depreciation i.e., Assessing Officer did not allow the assessee to carry forward the unabsorbed

ACIT, CIRCLE-26(1), NEW DELHI vs. VALUE FIRST DIGITAL MEDIA PVT. LTD.,, NEW DELHI

In the result, ITA No. 3143/Del/2019 [A

Bench: Shri Narender Kumar Choudhry & Dr. B.R.R. Kumar

forward losses of the A & S Division claimed by the Appellant amounting to Rs. 4,76,08,087/- and unabsorbed depreciation amounting to Rs. 18,50,582/- on the ground that the business losses were not transferred to the Appellant under the scheme of demerger. Further, carry

ACIT CIRCLE 25-(1), DELHI vs. VALUE FIRST DIGITAL MEDIA PVT. LTD. , GURGAON HARYANA

In the result, ITA No. 3143/Del/2019 [A

Bench: Shri Narender Kumar Choudhry & Dr. B.R.R. Kumar

forward losses of the A & S Division claimed by the Appellant amounting to Rs. 4,76,08,087/- and unabsorbed depreciation amounting to Rs. 18,50,582/- on the ground that the business losses were not transferred to the Appellant under the scheme of demerger. Further, carry

ACIT, CIRCLE-26(1), NEW DELHI vs. VALUE FIRST DIGITAL MEDIA PVT. LTD.,, NEW DELHI

In the result, ITA No. 3143/Del/2019 [A

Bench: Shri Narender Kumar Choudhry & Dr. B.R.R. Kumar

forward losses of the A & S Division claimed by the Appellant amounting to Rs. 4,76,08,087/- and unabsorbed depreciation amounting to Rs. 18,50,582/- on the ground that the business losses were not transferred to the Appellant under the scheme of demerger. Further, carry

ADDL. CIT, NEW DELHI vs. M/S. NORTEL NETWORKS INDIA PVT. LTD., NEW DELHI

Accordingly, both the grounds of appeal raised by the ld AO are dismissed

Bench: Ms. Sushma Chowla & Shri Prashant Maharishiaddl. Cit, Vs. Nortel Networks India Pvt. Ltd, Special Range-6, Room No. 352, C-27, Ground Floor, Cr Building, Ip Estate, New Delhi Near Garden Of Five Senses Westend Marg, Paryavaran Complex, New Delhi Pan: Aabcn1424B (Appellant) (Respondent)

loss of INR 69,18,94,858 cannot be carried forward to subsequent years. However, the aforesaid restriction does not apply to carry forward of unabsorbed depreciation

THE COMMISSIONER OF INCOME TAX vs. SUMI MOTHERSON INNOVATIVE ENGINEERING LTD.

Bench: We Reproduce The Exact Questions, Which Were Formulated While Admitting The Appeal, We

forward loss or unabsorbed depreciation is to be carried out. The appellant‟s case is that once the loss has been

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

carry forward of the set-off of business loss. Sub-section (I) of section 72 provides for the set-off of the brought forward loss of earlier years and sub- section (2) provides for the set- off of unabsorbed depreciation

ACIT, CENTRAL CIRCLE- 17, NEW DELHI vs. SPECTRUM COAL & POWER LTD., NEW DELHI

Bench: Shri N.K. Billaiya & Shri Kuldip Singh(Through Video Conference)

depreciation as per the Act at Rs.7,14,24,272/- and carry forward losses arrived at Rs.35780180/- as carry forward

PVR PICTURES LTD.,NEW DELHI vs. DCIT, CIRCLE- 19(2), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us

forward loss or depreciation as per books of account whichever is less in terms of clause (iii) of Explanation-1 to Section 115JB(2) of the Act. 4. In the first appeal, the assessee reiterated adjustment of carried

COMMISSIONER OF INCOME TAX vs. ELI LILLY & CO. INDIA PVT LTD

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

carried forward losses, losses still remained unabsorbed and the unabsorbed depreciation was not even touched. This figure of unabsorbed depreciation

DCIT, NEW DELHI vs. M/S INDO RAMA SYNTHETICS (I) LTD., NEW DELHI

In the result the appeal filed by the revenue stands dismissed

Bench: Shri G. D. Agrawal, Hon’Ble & Smt. Beena A. Pillai

carried forward loss (for set-off) was less than unabsorbed depreciation. The material before AO at the time of recording

COMMISSIONER OF INCOME TAX, DELHI VIII vs. INDIAN FARMERS FERTILIZERS CO-OP. LTD.

The appeal stands disposed of accordingly

carried forward losses would not be deductible before working out the 8% deduction contemplated by section 80E and therefore the contention that by parity of reasoning or on a priori reasoning unabsorbed development rebate and unabsorbed depreciation

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

forward losses which were either could not be set off against the profits and if the assessee considers any year as the initial assessment year for the benefit of Section 80IA in such cases, the eligible profits would be determined only after setting off of the losses/ unabsorbed depreciation carried

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

forward losses which were either could not be set off against the profits and if the assessee considers any year as the initial assessment year for the benefit of Section 80IA in such cases, the eligible profits would be determined only after setting off of the losses/ unabsorbed depreciation carried

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

forward losses which were either could not be set off against the profits and if the assessee considers any year as the initial assessment year for the benefit of Section 80IA in such cases, the eligible profits would be determined only after setting off of the losses/ unabsorbed depreciation carried

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

forward losses which were either could not be set off against the profits and if the assessee considers any year as the initial assessment year for the benefit of Section 80IA in such cases, the eligible profits would be determined only after setting off of the losses/ unabsorbed depreciation carried

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

forward losses which were either could not be set off against the profits and if the assessee considers any year as the initial assessment year for the benefit of Section 80IA in such cases, the eligible profits would be determined only after setting off of the losses/ unabsorbed depreciation carried

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

forward losses which were either could not be set off against the profits and if the assessee considers any year as the initial assessment year for the benefit of Section 80IA in such cases, the eligible profits would be determined only after setting off of the losses/ unabsorbed depreciation carried

GOLDFIELD SALES AGENCIES LTD.,FARIDABAD vs. DCIT, CENTRAL CIRCLE- 2, FARIDABAD

In the result, the appeal being ITA No

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

carried forward business losses, long term capital loss and unabsorbed depreciation as shown in its computation of income is hereby