ACIT, NEW DELHI vs. M/S. BHARAT SANCHAR NIGAM LTD., NEW DELHI

The appeals of the assessee are allowed

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaay: 2005-06 Ay: 2009-10

section 115JB regarding provision for bad and doubtful debts (amount set aside towards provision of diminution in the value of assets) was not in the Statute and, therefore, we do not see any infirmity in the order passed by the Ld. CIT (A) on this issue and decline to interfere. Accordingly, drawing support from the order passed by ITAT Delhi

BHARAT SANCHAR NIGAM LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeals of the assessee are allowed

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaay: 2005-06 Ay: 2009-10

section 115JB regarding provision for bad and doubtful debts (amount set aside towards provision of diminution in the value of assets) was not in the Statute and, therefore, we do not see any infirmity in the order passed by the Ld. CIT (A) on this issue and decline to interfere. Accordingly, drawing support from the order passed by ITAT Delhi

GE MONEY FINANCIAL SERVICES PVT. LTD.,DELHI vs. DCIT, NEW DELHI

In the result ground, no

Bench: Shri A.T.Varkey & Shri Prashant Maharishi

244A of the Act as a consequence to the above disallowances confirmed by the Hon'ble DRP. H. Initiation of penalty proceedings under Section 271 (1 )(c) of the Act 8 On the facts and circumstances of the case, the Ld. AO erred in initiating penalty proceedings under section 271(1)(c) of the Act for furnishing inaccurate particulars

GE MONEY FINANCIAL SERVICES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result ground, no

Bench: Shri A.T.Varkey & Shri Prashant Maharishi

244A of the Act as a consequence to the above disallowances confirmed by the Hon'ble DRP. H. Initiation of penalty proceedings under Section 271 (1 )(c) of the Act 8 On the facts and circumstances of the case, the Ld. AO erred in initiating penalty proceedings under section 271(1)(c) of the Act for furnishing inaccurate particulars

HERO MOTO CORP LTD.,NEW DELHI vs. NEAC, DELHI

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

depreciation of Rs. 19,11,47,917 on „leasehold rights‟ in land under section 32(1 )(ii) of the Act can even otherwise be allowed as additional ground by the Hon‟ble Tribunal. Re: Deduction of education cess on income tax 22. That the assessing officer/ Hon‟ble Dispute Resolution Panel („DRP‟) erred on facts

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

244A of the Act. 6. That on the facts and circumstances of the case and in law, the Ld.AO erred in initiating penalty proceedings under Section 271(1)(c) of the Act. Grounds of Appeal for AY 2012-13 1. That on the facts and circumstances of the case and in law, the impugned assessment order passed by the Learned

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

244A of the Act. 6. That on the facts and circumstances of the case and in law, the Ld.AO erred in initiating penalty proceedings under Section 271(1)(c) of the Act. Grounds of Appeal for AY 2012-13 1. That on the facts and circumstances of the case and in law, the impugned assessment order passed by the Learned

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

244A of the Act. 6. That on the facts and circumstances of the case and in law, the Ld.AO erred in initiating penalty proceedings under Section 271(1)(c) of the Act. Grounds of Appeal for AY 2012-13 1. That on the facts and circumstances of the case and in law, the impugned assessment order passed by the Learned

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

244A of the Act. 6. That on the facts and circumstances of the case and in law, the Ld.AO erred in initiating penalty proceedings under Section 271(1)(c) of the Act. Grounds of Appeal for AY 2012-13 1. That on the facts and circumstances of the case and in law, the impugned assessment order passed by the Learned

COMPUTER MODELLING GROUP LIMITED,CANADA vs. ACIT INTERNATIONAL TAXATION CIRCLE 1(2)(1), NEW DELHI

In the result, all the four appeals of the assessee for AY 2012-13,

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandra

depreciation and brought forward loss shall be allowed to the assessee for such previous year. Explanation.—For the purposes of this section,— (i) "plant" includes ships, aircraft, vehicles, drilling units, scientific apparatus and equipment, used for the purposes of the said business; (ii) "mineral oil" includes petroleum and natural gas.” 8. Thus, a reading of the above section shows that

COMPUTER MODELLING GROUP LIMITED,CANADA vs. DCIT CIRCLE INTERNATIONAL TAXATION 1(2)(1), NEW DELHI

In the result, all the four appeals of the assessee for AY 2012-13,

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandra

depreciation and brought forward loss shall be allowed to the assessee for such previous year. Explanation.—For the purposes of this section,— (i) "plant" includes ships, aircraft, vehicles, drilling units, scientific apparatus and equipment, used for the purposes of the said business; (ii) "mineral oil" includes petroleum and natural gas.” 8. Thus, a reading of the above section shows that

COMPUTER MODELLING GROUP LIMITED,CANADA vs. ACIT, CIRCLE-1(2)(1), INT. TAXATION, NEW DELHI

In the result, all the four appeals of the assessee for AY 2012-13,

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandra

depreciation and brought forward loss shall be allowed to the assessee for such previous year. Explanation.—For the purposes of this section,— (i) "plant" includes ships, aircraft, vehicles, drilling units, scientific apparatus and equipment, used for the purposes of the said business; (ii) "mineral oil" includes petroleum and natural gas.” 8. Thus, a reading of the above section shows that

PASUPATI FABRICS LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is allowed

Bench: Shri O.P. Kant & Shri Kuldip Singh

depreciation as claimed may kindly be allowed. 5. That the AO has erred in observing that assets were not used for the purpose of business &the CIT (A) erred in upholding such observations. 6. That the learned CIT (A) has erred in upholding the action of the AO in disallowing Rs. 10,750/- from expenditure under the head "Professional Charges

GE MONEY FINANCIAL SERVICES (P) LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, revenue’s appeal is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

depreciation on leased vehicles (net of principal recovery) of Rs.69,67,067/- claimed under section 32 of the Income-tax Act, 1961 ('hereinafter referred to as Act'). 2. That on the facts and in the circumstances of the case and in law, the CIT(A) has erred in sustaining an addition of Rs.2,07,06,434/- on account of interest

GE MONEY FINANCIAL SERVICES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, revenue’s appeal is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

depreciation on leased vehicles (net of principal recovery) of Rs.69,67,067/- claimed under section 32 of the Income-tax Act, 1961 ('hereinafter referred to as Act'). 2. That on the facts and in the circumstances of the case and in law, the CIT(A) has erred in sustaining an addition of Rs.2,07,06,434/- on account of interest

GE COUNTRYWIDE CONSUMER FINANCIAL SERVICES LTD. vs. DCIT, CIRCLE-12(1),,

In the result, revenue’s appeal is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

depreciation on leased vehicles (net of principal recovery) of Rs.69,67,067/- claimed under section 32 of the Income-tax Act, 1961 ('hereinafter referred to as Act'). 2. That on the facts and in the circumstances of the case and in law, the CIT(A) has erred in sustaining an addition of Rs.2,07,06,434/- on account of interest

ACIT, NEW DELHI vs. M/S. GE MONEY FINANCIAL SERVICES LTD., NEW DELHI

In the result, revenue’s appeal is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

depreciation on leased vehicles (net of principal recovery) of Rs.69,67,067/- claimed under section 32 of the Income-tax Act, 1961 ('hereinafter referred to as Act'). 2. That on the facts and in the circumstances of the case and in law, the CIT(A) has erred in sustaining an addition of Rs.2,07,06,434/- on account of interest

GE MONEY FINANCIAL SERVICES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, revenue’s appeal is dismissed

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

depreciation on leased vehicles (net of principal recovery) of Rs.69,67,067/- claimed under section 32 of the Income-tax Act, 1961 ('hereinafter referred to as Act'). 2. That on the facts and in the circumstances of the case and in law, the CIT(A) has erred in sustaining an addition of Rs.2,07,06,434/- on account of interest