DCIT (LTU), NEW DELHI vs. M/S. EXL SERVICE.COM (INDIA) PVT. LTD., NEW DELHI

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

Section 92B of the Act with retrospective effect from 01.04.2002. Therefore, interest charged/not charged on outstanding receivables is an international transaction. The reliance was placed on the judgment of the Hon’ble Bombay High Court in the case of CIT-2, Pune Vs Patni Computers System Pvt. Ltd. reported at 215 Taxman 108 (Mum.). The reliance was also placed

EXL SERVICE.COM (INDIA) PVT. LTD.,NEW DELHI vs. DCIT (LTU), NEW DELHI

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

Section 92B of the Act with retrospective effect from 01.04.2002. Therefore, interest charged/not charged on outstanding receivables is an international transaction. The reliance was placed on the judgment of the Hon’ble Bombay High Court in the case of CIT-2, Pune Vs Patni Computers System Pvt. Ltd. reported at 215 Taxman 108 (Mum.). The reliance was also placed

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

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

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

200 Disallowed Assessee had not provided 2013-14 21,78,04,800 Disallowed Pending before C1T(A) sufficient evidence 18. It can be seen from the above chart that upto A.Y 2011-12, no adjustment was made on this account and the Revenue has changed its stand from A.Y 2012-13 onwards. 19. At the very outset, we have

THE PR. COMMISSIONER OF INCOME TAX - CENTRAL -3 vs. ORIENTAL PATHWAYS ( NAGPUR) PVT. LTD.

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

section l43(3) of the Act on 23.12.2011 at a loss of Rs.34,24,76,200/-, by making disallowance of Rs.34,12,759/- on account of preliminary expenditure. During the said assessment proceedings, no interference was made by the AD on other issues including depreciation

THE PR. COMMISSIONER OF INCOME TAX - CENTRAL -3 vs. ORIENTAL PATHWAYS ( NAGPUR) PVT. LTD.

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

200/-, by making disallowance of Rs.34,12,759/- on account of preliminary expenditure. During the said assessment proceedings, no interference was^frtddeifBy the^i'A&^on other issues including depreciation, though the appellant has claimed depreciation on road @ 10% of the capitalized cost. A Search was carried out in Bakshi group of cases on 10.12.2012 and the case of appellant

M/S. KEI INDUSTRIES LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, Ground No.3

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

200 bps, as applicable to 7 ITA.No.1433/D/2014, CO.No.200/D/2017, CO.No.34/D/2019 in ITA.No.3564/D/2015 & ITA.No.528/D/2016 M/s. K.E.I. Industries Ltd., New Delhi. short term borrowings. In other cases, the all-in-cost for the relevant maturity of the ECB, as laid down in A.P. (DIR Series) No. 26 dated October 22, 2008 shall apply. 8. The Appellant in terms

ACIT, NEW DELHI vs. M/S. K.E.I. INDUSTRIES LTD., NEW DELHI

In the result, Ground No.3

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

200 bps, as applicable to 7 ITA.No.1433/D/2014, CO.No.200/D/2017, CO.No.34/D/2019 in ITA.No.3564/D/2015 & ITA.No.528/D/2016 M/s. K.E.I. Industries Ltd., New Delhi. short term borrowings. In other cases, the all-in-cost for the relevant maturity of the ECB, as laid down in A.P. (DIR Series) No. 26 dated October 22, 2008 shall apply. 8. The Appellant in terms

M/S. CONTAINER CORPORATION OF INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the Revenue’s appeal is dismissed

Bench: Shri H.S. Sidhu & Dr. B.R.R. Kumar

200/- on account of depreciation on intangible assets being value of License acquired from the Indian Railways for running container trains on Indian Railways. 3. Ld. CIT(A) erred, on facts and in law, in confirming the disallowance of Rs. 2,62,74,970/- being the claim of deduction on account of advance lease rent paid for the land taken

DCIT, NEW DELHI vs. M/S. CONTAINER CORPORATION OF INDIA LTD., NEW DELHI

In the result, the Revenue’s appeal is dismissed

Bench: Shri H.S. Sidhu & Dr. B.R.R. Kumar

200/- on account of depreciation on intangible assets being value of License acquired from the Indian Railways for running container trains on Indian Railways. 3. Ld. CIT(A) erred, on facts and in law, in confirming the disallowance of Rs. 2,62,74,970/- being the claim of deduction on account of advance lease rent paid for the land taken

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

200 Sq. Yards) in Narela Housing Scheme In my name There is not other immovable property my name or in name of my family members or our business concerns. Q.4. Have your or your family members received and gift during the last ten years? Ans. I have received a gift of Rs. 50,00,000/- in Indian rupees from

ACIT, NEW DELHI vs. M/S NIIT TECHNOLOGIES LTD.,, NEW DELHI

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section IDA in this context means the global income off the assessee and not the total income as defined in section 2(45). …………………………………. 27. Form No.1 read with Rule 12 of the Income Tax Rules, 1962 provides for return of income and return of fringe benefits. ITA Nos. 5524 & 5525/Del/2013 28. In Schedule NO.9 at column NO.7 it is clearly

ACIT, NEW DELHI vs. M/S NIIT TECHNOLOGIES LTD.,, NEW DELHI

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section IDA in this context means the global income off the assessee and not the total income as defined in section 2(45). …………………………………. 27. Form No.1 read with Rule 12 of the Income Tax Rules, 1962 provides for return of income and return of fringe benefits. ITA Nos. 5524 & 5525/Del/2013 28. In Schedule NO.9 at column NO.7 it is clearly