ACIT (E), CIRCLE- 2(1), NEW DELHI vs. SANSKRITI EDUCATIONAL SOCIETY, NEW DELHI

Appeal is dismissed

Bench: Shri Tarvinder Singh Kapoor & Shri Chandra Mohan Garg

deduction” and thereafter depreciation was being claimed. The said case, therefore, appears to be a peculiar one wherein deduction as expenditure

DABUR INDIA LIMITED vs. COMMISSIONER OF INCOME TAX,

The appeals are dismissed

Bench: We Consider The Submissions Made In Support Of The Appeal The Following Facts Require To Be Noted:- 2.1 The Assessee Is In The Business Of Manufacturing Herbal Products & Cosmetics. On 30.11.2000 Assessee Filed Its Return For Assessment Year 2000-01 Wherein, It Declared An Income Of Rs 12,15,25,093/-. On 10.5.2001 The Return Was Processed Under Section 143(1)(A) Of The Act As The Returned Income. However, Notices Were Issued Under Section 143(2) Of The Act. 2.2 In Response To The Aforesaid Notices, Hearing Was Attended By An Authorized Representative Before The Assessing Officer. 2008:Dhc:2521

deduction under Section 80 IB, no depreciation had been provided for in determining profits and gains eligible for deductions under

VEDANTA LTD (SUCCESSOR TO CAIRN INDIA LTD),GURGAON vs. ACIT, CIRCLE-26(1), NEW DELHI

Bench: Hon’Ble, Shri N.K. Saini & Shri Kuldip Singh

deduction in respect of depreciation in computing his total income”. The effect of this Explanation is that deduction on account

PRASIDH FINCAP LTD,NEW DELHI vs. ITO, WARD-20(1), NEW DELHI

In the result, all the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

depreciation deducted in arriving at the taxable income or the depreciation deducted in arriving at the world income (composite income

PRASIDH FINCAP LTD,NEW DELHI vs. ITO, WARD-20(2), NEW DELHI

In the result, all the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

depreciation deducted in arriving at the taxable income or the depreciation deducted in arriving at the world income (composite income

PRASIDH FINCAP LTD. ,NEW DELHI vs. DCIT CIRCLE-20(1), NEW DELHI

In the result, all the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

depreciation deducted in arriving at the taxable income or the depreciation deducted in arriving at the world income (composite income

KANPUR DEVELOPMENT AUTHORITY,KANPUR vs. ADDL.CIT, EXEMPTION RANGE, GHAZIABAD

In the result the appeal of the revenue is dismissed

Bench: Shri Shamim Yahya, /And Shri Sudhir Pareek

depreciation of assets owned by such institution is a necessary deduction on commercial principles, hence, the amount of depreciation has to be deducted

KANPUR DEVELOPMENT AUTHORITY,KANPUR vs. DCIT, EXEMPTION RANGE, GHAZIABAD

In the result the appeal of the revenue is dismissed

Bench: Shri Shamim Yahya, /And Shri Sudhir Pareek

depreciation of assets owned by such institution is a necessary deduction on commercial principles, hence, the amount of depreciation has to be deducted

KANPUR DEVELOPMENT AUTHORITY,KANPUR vs. ADDL.CIT, EXEMPTION RANGE, GHAZIABAD

In the result the appeal of the revenue is dismissed

Bench: Shri Shamim Yahya, /And Shri Sudhir Pareek

depreciation of assets owned by such institution is a necessary deduction on commercial principles, hence, the amount of depreciation has to be deducted

JUBILANT INFRASTRUCTURE LTD. ,NOIDA vs. ACIT CIRCLE-5 (1)(1), NOIDA

In the result, the appeal of the assessee is allowed

Bench: Ms. Madhumita Roy & Sh. Naveen Chandra

depreciation is not expenditure eligible for deduction, the contention of the assessee that the amount of depreciation disallowed should be allowed

DCIT (EXEMPTION), NEW DELHI vs. M/S. NAV NIRMAN SEWA SAMITI, DELHI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri O.P. Kant & Shri Kuldip Singh[Through Video Conferencing]

deduction by way of depreciation etc. was being claimed and such amount of notional deduction was not being applied for charitable

SVP INDUSTRIES LTD.,NEW DELHI vs. ACIT CIRCLE-22(2), NEW DELHI

In the result, the appeals of the assessee are partly allowed in the manner as indicated above

Bench: Shri Chandra Mohan Garg & M.Balaganesh

deduction by the amount of depreciation of Rs. 1,12,94,053/- and calculated the amount eligible for deduction u/s. 80JJA

SVP INDUSTRIES LTD.,NEW DELHI vs. ACIT, CIRCLE- 22(2), NEW DELHI

In the result, the appeals of the assessee are partly allowed in the manner as indicated above

Bench: Shri Chandra Mohan Garg & M.Balaganesh

deduction by the amount of depreciation of Rs. 1,12,94,053/- and calculated the amount eligible for deduction u/s. 80JJA

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

deduction and not exemption. Since profits are required to be computed as per the provisions of the IT Act, viz., section 29 to section 43A, this includes section 32(2). Therefore, one cannot exclude depreciation

HARISH CHAND RAM KALI CHARITABLE TRUST,GHAZIABAD vs. ADDL. CIT, GHAZIABAD

In the result, we allow appeal of the assessee partly

Bench: Ms. Sushma Chowla & Shri Prashant Maharishiharish Chand Ram Kali Vs. The Addl Commissioner Of Charitable Trust Income Tax Kf-91, Kavi Nagar Range-1 Ghaziabad Ghaziabad Up Up Pan: Aath3018B (Appellant) (Respondent)

deduction of expenditure of Rs 21868399 resulting in to net profit from hostel business of ₹ 8591641/– . He considered it as a business income to which provision of section 11 (4A) of the Act applies. 6. The learned assessing officer further found that assessee has claimed depreciation

DIRECTOR OF INCOME TAX (EXEMPTION) vs. INDIAN TRADE PROMOTION ORGANISATION

depreciation on such asset would not be allowable to the assessee. Such notional statutory deductions like depreciation, if claimed as deduction

M/S. RAJ BUILDCON CONSTRUCTION LTD.,,GURGAON vs. JCIT, GURGAON

In the result, the appeal of the assessee is allowed partly for statistical purposes

Bench: Shri Bhavnesh Saini & Shri O.P. Kantassessment Year: 2010-11 M/S. Raj Buildcon Vs. Jcit(A), Construction Ltd., Range-Ii, Gurgaon (Haryana) 404, Welldone Tech Park, Sector-48, Sohna Road, Gurgaon (Haryana) Pan :Aadcr6387F (Appellant) (Respondent) Appellant By Shri Rohit Tiwari, Adv. Respondent By Smt. Rinku Singh, Sr.Dr

depreciation. The Punjab and Haryana High Court therefore held that the assessee was entitled to a deduction for depreciation from

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

deduction under Section 80-IA. Owing to depreciation and loss, the assessee did not claim s. 80-IA deduction in AY 2006-07 & 2007- 08 and set-off the loss