COMMISSIONER OF INCOME TAX vs. RAJAN NANDA

The appeals of the Revenue are dismissed and those

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

10(10D) and 37(1) of the Act in a proper perspective. He argued that as per the aforesaid Circular, the object of a keyman insurance policy is to enable business organizations to insure the life of a keyman in order to protect the business against the financial loss which may occur in the likely eventuality of premature death

COMMISSIONER OF INCOME TAX vs. RAJAN NANDA

The appeals of the Revenue are dismissed and those

10(10D) and 37(1) of the Act in a proper perspective. He argued that as per the aforesaid Circular, the object of a keyman insurance policy is to enable business organizations to insure the life of a keyman in order to protect the business against the financial loss which may occur in the likely eventuality of premature death

CIT vs. NARESH TREHAN

The appeals of the Revenue are dismissed and those

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

10(10D) and 37(1) of the Act in a proper perspective. He argued that as per the aforesaid Circular, the object of a keyman insurance policy is to enable business organizations to insure the life of a keyman in order to protect the business against the financial loss which may occur in the likely eventuality of premature death

TURNER BROADCASTING SYSTEM ASIA PACIFIC INC.,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

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

Bench: Shri Amit Shukla & Shri B.R.R. Kumar

depreciation, investment losses, deductible expenses, carry forward and set-off losses, etc. However, deviations are made by DTAA in cases of royalty, interest, etc. Such deviations are also made under the IT Act (for example Sections 44-BB, 44-BBA, etc.). Under the impugned ruling delivered by AAR, remuneration to MSAS was justified by a transfer pricing analysis and, therefore

TURNER BROADCASTING SYSTEM ASIA PACIFIC, INC.,NEW DELHI vs. DCIT, NEW DELHI

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

Bench: Shri Amit Shukla & Shri B.R.R. Kumar

depreciation, investment losses, deductible expenses, carry forward and set-off losses, etc. However, deviations are made by DTAA in cases of royalty, interest, etc. Such deviations are also made under the IT Act (for example Sections 44-BB, 44-BBA, etc.). Under the impugned ruling delivered by AAR, remuneration to MSAS was justified by a transfer pricing analysis and, therefore

TURNER BROADCASTING SYSTEM ASIA PACIFIC INC.,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

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

Bench: Shri Amit Shukla & Shri B.R.R. Kumar

depreciation, investment losses, deductible expenses, carry forward and set-off losses, etc. However, deviations are made by DTAA in cases of royalty, interest, etc. Such deviations are also made under the IT Act (for example Sections 44-BB, 44-BBA, etc.). Under the impugned ruling delivered by AAR, remuneration to MSAS was justified by a transfer pricing analysis and, therefore

TURNER BROADCASTING SYSTEMASIA PACIFIC, INC.,NEW DELHI vs. DDIT, NEW DELHI

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

Bench: Shri Amit Shukla & Shri B.R.R. Kumar

depreciation, investment losses, deductible expenses, carry forward and set-off losses, etc. However, deviations are made by DTAA in cases of royalty, interest, etc. Such deviations are also made under the IT Act (for example Sections 44-BB, 44-BBA, etc.). Under the impugned ruling delivered by AAR, remuneration to MSAS was justified by a transfer pricing analysis and, therefore

SHANTI BHUSHAN vs. COMMISSIONER OF INCOME TAX

10(5) of the 1922 Act which was similar to the definition given in Section 43(3) of the 1961 Act and this Court after approving the definition of plant given by Lindley L.J. in Yarmouth v. France as expounded in Jarrold v. John Good and sons limited 1962, 40 T.C. 681(CA), held that sanitary and pipe-line fittings

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. PTC INDIA FINANCIAL SERVICES LTD, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

M/S. PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, CIRCLE- 19(2), NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

ACIT, NEW DELHI vs. M/S. PTC INDIA FINANCIAL SERVICES LTD., NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

DIVYA CREATION,NOIDA vs. PR.CIT, NOIDA

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2013-14 M/S. Divya Creation, Vs. Pr. Cit, Plot No. 97, Nsez, Noida Aayakar Bhawan, A2 D- Block, Sector 24, Noida Pan :Aadfd4879K (Appellant) (Respondent)

depreciation allowable in accordance with the provisions of section 32 as if no deduction under section 35AD was allowed in respect of the assets on which the deduction under that section is claimed.” 12. It is evident from the above that if the deduction is claimed under chapter VIA or under section 10AA or under section 35D 16 then

NALWA STEEL POWER LIMITED,NEW DELHI vs. ACIT, CIRCLE- 17(2), NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

depreciation charged by the assessee in respect of electrical installation, the Ld. AR submitted that it is fully covered in assessee’s own case and moreover the DRP has also given the direction for deletion. 26. The Ld. DR relied upon the order of the TPO, directions of the DRP and Assessment Order. 27. We have heard both the parties

AKSHAY KHETTERPAL,NEW DELHI vs. ACIT, CIRCLE- 41(1), NEW DELHI

In the result, the Appeal filed by the Assessee is partly allowed

Bench: Shri R.K.Panda & Shri N. K. Choudhryakshaykhetterpal, Vs. Acit, C/O. Surindermahajan& Circle-41(1), Associates, A-134, Defence New Delhi Colony, New Delhi Pan: Bhupk0131J (Appellant) (Respondent)

37(1) of the Act since the same have been paid on account of infraction of law. 4. That on the facts and circumstances of the case, Learned CIT(A) has grossly erred in holding that fines and penalty paid are not of compensating nature.” 5 Heard the parties and perused the material available on record. In the instant case

M/S. RELIGARE COMMODITIES LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result the disallowance made by the Ld

Bench: Ms Suchitra Kamble & Shri Prashant Maharishireligare Commodities Ltd, Acit, D3, P3B, District Centre, Saket, Circle-15(1), Vs. New Delhi New Delhi Pan:Aaacf8356R (Appellant) (Respondent) Religare Commodities Ltd, Dcit, D3, P3B, District Centre, Saket, Circle-15(1), Vs. New Delhi New Delhi Pan:Aaacf8356R (Appellant) (Respondent)

depreciation and allowances are dealt with in section 32, therefore, the parliament has used expression "any expenditure" in section 37 to cover both. Therefore, the expression "expenditure" as used in section 37 made in the circumstances of a particular case, covers an amount which is really a "loss" even though the said amount has not gone out from the pocket

DCIT CIRCLE 12 (1) vs. G.E. CAPITAL SERVICES INDIA,

In the result, the appeals of the assessee and Revenue are partly allowed for

Bench: Smt Diva Singh & Sh.L.P.Sahu

depreciation thereon at the normal rate of 25 per cent in the absence of any specific rate prescribed in the schedule for the software. On appeal, the Commissioner (Appeals) upheld the order of the Assessing Officer. On second appeal, the assessee contended that by incurring the impugned expenditure, it had acquired only the license to use the software and there

GE CAPITAL SERVICES INDIA vs. ADDL CIT RANGE 2,

In the result, the appeals of the assessee and Revenue are partly allowed for

Bench: Smt Diva Singh & Sh.L.P.Sahu

depreciation thereon at the normal rate of 25 per cent in the absence of any specific rate prescribed in the schedule for the software. On appeal, the Commissioner (Appeals) upheld the order of the Assessing Officer. On second appeal, the assessee contended that by incurring the impugned expenditure, it had acquired only the license to use the software and there