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

131 TTJ 1 (ITAT (SB) - Chennai))  Treasure Island Resorts (P) Ltd. vs. DCIT : 90 ITD 814 (Hyd)  Akash Lavlesh Leisure (P) Ltd v. ITO: 78 taxmann.com 338 (Hyd.)  T.K. International Ltd. v. ACIT : 91 ITD 481 (Cuttack) - Consideration received towards sale of time share for 99 years – held taxable over the years in which assessee was to provide services

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

131 TTJ 1 (ITAT (SB) - Chennai))  Treasure Island Resorts (P) Ltd. vs. DCIT : 90 ITD 814 (Hyd)  Akash Lavlesh Leisure (P) Ltd v. ITO: 78 taxmann.com 338 (Hyd.)  T.K. International Ltd. v. ACIT : 91 ITD 481 (Cuttack) - Consideration received towards sale of time share for 99 years – held taxable over the years in which assessee was to provide services

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

131 TTJ 1 (ITAT (SB) - Chennai))  Treasure Island Resorts (P) Ltd. vs. DCIT : 90 ITD 814 (Hyd)  Akash Lavlesh Leisure (P) Ltd v. ITO: 78 taxmann.com 338 (Hyd.)  T.K. International Ltd. v. ACIT : 91 ITD 481 (Cuttack) - Consideration received towards sale of time share for 99 years – held taxable over the years in which assessee was to provide services

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

131 TTJ 1 (ITAT (SB) - Chennai))  Treasure Island Resorts (P) Ltd. vs. DCIT : 90 ITD 814 (Hyd)  Akash Lavlesh Leisure (P) Ltd v. ITO: 78 taxmann.com 338 (Hyd.)  T.K. International Ltd. v. ACIT : 91 ITD 481 (Cuttack) - Consideration received towards sale of time share for 99 years – held taxable over the years in which assessee was to provide services

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

131 TTJ 1 (ITAT (SB) - Chennai))  Treasure Island Resorts (P) Ltd. vs. DCIT : 90 ITD 814 (Hyd)  Akash Lavlesh Leisure (P) Ltd v. ITO: 78 taxmann.com 338 (Hyd.)  T.K. International Ltd. v. ACIT : 91 ITD 481 (Cuttack) - Consideration received towards sale of time share for 99 years – held taxable over the years in which assessee was to provide services

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

131 TTJ 1 (ITAT (SB) - Chennai))  Treasure Island Resorts (P) Ltd. vs. DCIT : 90 ITD 814 (Hyd)  Akash Lavlesh Leisure (P) Ltd v. ITO: 78 taxmann.com 338 (Hyd.)  T.K. International Ltd. v. ACIT : 91 ITD 481 (Cuttack) - Consideration received towards sale of time share for 99 years – held taxable over the years in which assessee was to provide services

THE COMMISSIONER OF INCOME TAX vs. M.S.AGGARWAL

depreciation under subsection (2) of Section 32 shall not be set off against the undisclosed income determined in the block assessment under this Chapter, but may be carried forward for being set off in the regular assessments. (underlined portion was inserted by Finance Act, 2002 w.r.e.f. 1st July, 1995. Prior to its substitution, clause (c) read as under, ―(c) where

VEDANTA LTD ,GURGAON vs. ACIT, CIRCLE- 26(2), NEW DELHI

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[Assessment Year: 2014-15]

Section 37 of the act may be prospective, but at the same time, assessee had to justify the claim of expenditure being spent on CSR. Details mentioned hereinabove do not justify the claim of expenditure on account of commercial expediency. Considering the claim from all possible angles, we do not find any merit in such claim of expenditure. Disallowance

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]

Section 32 of the Act was that once the capital expenditure is treated as application of income for charitable purposes, the assessees had virtually enjoyed a 100 per cent write off of the cost of assets and, therefore, the grant of depreciation would amount to giving double benefit to the assessee. Though it appears that in most of these cases

M/S. AT & T GLOBAL NETWORK SERVICES (INDIA) PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed and appeal of the revenue is dismissed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiat & T Global Network Services Dcit, (India) Pvt Ltd., Circle-2(1), Vs. Vatika Lok-1, Block-A, Gurgaon New Delhi Pan:Aafca8810L (Appellant) (Respondent) Dcit, At & T Global Network Services Circle-2(1), (India) Pvt Ltd., Vs. New Delhi Vatika Lok-1, Block-A, Gurgaon Pan:Aafca8810L (Appellant) (Respondent)

131 towards interest expenditure incurred in relation to the ECBs availed by the Appellant for acquisition of fixed assets, by invoking the proviso to section 36( 1 )(iii) of the Act. 3.2 Without prejudice to the above ground, on the facts and circumstances of the case and in law, the learned AO has erred in not allowing depreciation

JINDAL STEEL & POWER LTD.,NEW DELHI vs. ADDL. CIT, HARYANA

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings

DCIT, HISAR vs. JINDAL STEEL & POWER LTD., HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings

DCIT, HISAR vs. JINDAL STEEL & POWER LTD., HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings

ACIT, HISAR vs. JINDAL STEEL & POWER LTD., HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings

JINDAL STEEL & POWER LTD.,HARYANA vs. DCIT, HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings

JINDAL STEEL & POWER LTD.,NEW DELHI vs. DCIT, HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings

ACIT, HISAR vs. M/S JINDAL STEEL & POWER LTD., HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings

JINDAL STEEL & POWER LIMITED vs. ADDL. CIT,

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest was also recognized upto financial year 1999-2000; 3. Jindal Holdings