DCIT, CIRCLE- 1, LTU, NEW DELHI vs. THE ORIENTAL INSURANCE CO. LTD., NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

34). Accordingly Revenue ground on this issue is rejected.” 19. Thus, in any way we look, the assessee is entitled exemption u/s 10(38) like any other assessee for computation of Income and ld tax authorities below have fallen in error in not extending the benefit. In fact the ld CIT(A) has decided the issue against the assessee following

THE ORIENTAL INSURANCE CO. LTD.,NEW DELHI vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

34). Accordingly Revenue ground on this issue is rejected.” 19. Thus, in any way we look, the assessee is entitled exemption u/s 10(38) like any other assessee for computation of Income and ld tax authorities below have fallen in error in not extending the benefit. In fact the ld CIT(A) has decided the issue against the assessee following

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

34 of the Act was deleted and hence, Mahindra Mills Ltd. (supra) had no applicability to the present case. 2.5 Accordingly, the Assessing Officer made the necessary adjustment in profits and gains returned by the Assessee by deducting the depreciation in order to arrive at the eligible profits for purpose of deduction under Section 80IB and 80 HHC. 3. Being

DCIT, NEW DELHI vs. M/S. ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

Accordingly, the appeal of the Revenue for the assessment year 2006-07 is hereby allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaassessment Year : 2004-05 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Acit, Central Circle-20, Ansal Housing & Construction New Delhi. Ltd., Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent)

depreciation as allowed in the past. In the result, ground nos.2 and 3 are allowed for statistical purposes. 10. Apropos ground nos.6 and 7, ld. counsel pointed out that during the course of assessment proceedings, the assessee vide letter dated 21.12.2006, filed revised computation of income claiming additional TDS of Rs.50,192/-. The certificates were also annexed to the said

ANSAL HOUSING & CONSTRUCTION LTD,NEW DELHI vs. ACIT CC-20, NEW DELHI

Accordingly, the appeal of the Revenue for the assessment year 2006-07 is hereby allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaassessment Year : 2004-05 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Acit, Central Circle-20, Ansal Housing & Construction New Delhi. Ltd., Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent)

depreciation as allowed in the past. In the result, ground nos.2 and 3 are allowed for statistical purposes. 10. Apropos ground nos.6 and 7, ld. counsel pointed out that during the course of assessment proceedings, the assessee vide letter dated 21.12.2006, filed revised computation of income claiming additional TDS of Rs.50,192/-. The certificates were also annexed to the said

THE ACIT.,, NEW DELHI vs. M/S. ANSAL HOUSING & CONSTRUCTION LTD.,, NEW DELHI

Accordingly, the appeal of the Revenue for the assessment year 2006-07 is hereby allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaassessment Year : 2004-05 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Acit, Central Circle-20, Ansal Housing & Construction New Delhi. Ltd., Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent)

depreciation as allowed in the past. In the result, ground nos.2 and 3 are allowed for statistical purposes. 10. Apropos ground nos.6 and 7, ld. counsel pointed out that during the course of assessment proceedings, the assessee vide letter dated 21.12.2006, filed revised computation of income claiming additional TDS of Rs.50,192/-. The certificates were also annexed to the said

ANSAL HOUSING & CONSTRUCTION LTD,NEW DELHI vs. ACIT, NEW DELHI

Accordingly, the appeal of the Revenue for the assessment year 2006-07 is hereby allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaassessment Year : 2004-05 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Ansal Housing & Construction Acit, Central Circle-20, Ltd., New Delhi. Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent) Assessment Year : 2005-06 Acit, Central Circle-20, Ansal Housing & Construction New Delhi. Ltd., Ugf-15, Indraprakash Bldg., Vs. 21, Barakhamba Road, New Delhi. Pan : Aaaca 0377 R (Appellant) (Respondent)

depreciation as allowed in the past. In the result, ground nos.2 and 3 are allowed for statistical purposes. 10. Apropos ground nos.6 and 7, ld. counsel pointed out that during the course of assessment proceedings, the assessee vide letter dated 21.12.2006, filed revised computation of income claiming additional TDS of Rs.50,192/-. The certificates were also annexed to the said

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

depreciation, therefore, the action of the Assessing Officer in computing the deduction under section 1 OB is correct. The reference of the CIT(A) to sub-section (6) of section 10B is misplaced as the said sub-section provides for the procedure to be adopted in the year immediately following the year in which the tax holiday comes

COMMISSIONER OF INCOME TAX vs. RAJAN NANDA

The appeals of the Revenue are dismissed and those

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

depreciation as tax planning. 24. Rebutting the arguments of Mr. Sahni, predicated on the alleged violation of terms of scheme of keyman insurance policy by assigning the same to the kayman, it was argued that no such contention was ever raised before the Authorities below. Even otherwise, the insurance company had accepted the assignment. So much so, even the Department

M/S LANDBASE INDIA LTD.,,GURGAON vs. ACIT, NEW DELHI

In the result, appeal of the assessee for assessment year 2011-12 is allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

section 254/148/143(3) of the Act giving effect to the said order of the Tribunal. In the said order, the assessing officer, after considering the entire material available on record, reiterated the findings given in original assessment and allowed depreciation on golf course @ 10% by treating the same as „building‟. On further appeal against the said order

LANDBASE INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee for assessment year 2011-12 is allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

section 254/148/143(3) of the Act giving effect to the said order of the Tribunal. In the said order, the assessing officer, after considering the entire material available on record, reiterated the findings given in original assessment and allowed depreciation on golf course @ 10% by treating the same as „building‟. On further appeal against the said order

LANDBASE INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee for assessment year 2011-12 is allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

section 254/148/143(3) of the Act giving effect to the said order of the Tribunal. In the said order, the assessing officer, after considering the entire material available on record, reiterated the findings given in original assessment and allowed depreciation on golf course @ 10% by treating the same as „building‟. On further appeal against the said order

LANDBASE INDIA LTD.,GURGAON vs. DCIT, NEW DELHI

In the result, appeal of the assessee for assessment year 2011-12 is allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

section 254/148/143(3) of the Act giving effect to the said order of the Tribunal. In the said order, the assessing officer, after considering the entire material available on record, reiterated the findings given in original assessment and allowed depreciation on golf course @ 10% by treating the same as „building‟. On further appeal against the said order

LANDBASE INDIA LTD.,GURGAON vs. DCIT, NEW DELHI

In the result, appeal of the assessee for assessment year 2011-12 is allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

section 254/148/143(3) of the Act giving effect to the said order of the Tribunal. In the said order, the assessing officer, after considering the entire material available on record, reiterated the findings given in original assessment and allowed depreciation on golf course @ 10% by treating the same as „building‟. On further appeal against the said order

ACIT, NEW DELHI vs. M/S. LANDBASE INDIA LTD., NEW DELHI

In the result, appeal of the assessee for assessment year 2011-12 is allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

section 254/148/143(3) of the Act giving effect to the said order of the Tribunal. In the said order, the assessing officer, after considering the entire material available on record, reiterated the findings given in original assessment and allowed depreciation on golf course @ 10% by treating the same as „building‟. On further appeal against the said order

COMMISSIONER OF INCOME TAX vs. RAJAN NANDA

The appeals of the Revenue are dismissed and those

depreciation as tax planning. 24. Rebutting the arguments of Mr. Sahni, predicated on the alleged violation of terms of scheme of keyman insurance policy by assigning the same to the kayman, it was argued that no such contention was ever raised before the Authorities below. Even otherwise, the insurance company had accepted the assignment. So much so, even the Department

VOCATIONAL EDUCATION FOUNDATION ,NEW DELHI vs. ACIT, EXEMPTIONS , GHAZIABAD

In the result, all the four appeals filed by the assessee for assessment year

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

34. In that matter also, a similar argument, as in the present case, was advanced on behalf of the revenue, namely, that depreciation can be allowed as deduction only under section 32 of the Income- tax Act and not under general principles. The Court rejected this argument. It was held that normal depreciation can be considered as a legitimate deduction

VOCATIONAL EDUCATION FOUNDATION,NEW DELHI vs. JCIT, EXEMPTION RANGE, GHAZIABAD

In the result, all the four appeals filed by the assessee for assessment year

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

34. In that matter also, a similar argument, as in the present case, was advanced on behalf of the revenue, namely, that depreciation can be allowed as deduction only under section 32 of the Income- tax Act and not under general principles. The Court rejected this argument. It was held that normal depreciation can be considered as a legitimate deduction