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:

255 ITR 273 (SC) which held that “the Assessing Officer does not have the jurisdiction to go behind the net profit shown in the profit and loss account except to the extent provided in the Explanation to Section 115J.”The Court declines to frame a question on the above issue.” 40. We, therefore, by keeping in view the ratio laid

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, INTL. TAXATION, CIRCLE, GURGAON vs. CAIRN ENERGY HYDROCARBON LTD. , GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

depreciation’. 7. The revenue has raised the following grounds in ITA No. 5989/Del/2018 for Assessment Year 2014-15:- “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 8,79,43,82,537/- which had been disallowed by the AO on the ground

DDIT, NEW DELHI vs. M/S. CAIRN ENERGY HYDROCARBONS LTD., GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

depreciation’. 7. The revenue has raised the following grounds in ITA No. 5989/Del/2018 for Assessment Year 2014-15:- “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 8,79,43,82,537/- which had been disallowed by the AO on the ground

DCIT, INTL. TAXATION, CIRCLE, GURGAON vs. CAIRN ENERGY HYDROCARBON LTD. , GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

depreciation’. 7. The revenue has raised the following grounds in ITA No. 5989/Del/2018 for Assessment Year 2014-15:- “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 8,79,43,82,537/- which had been disallowed by the AO on the ground

CAIRN ENERGY HYDROCARBON LTD. ,GURGAON vs. DCIT, INTL. TAXATION, CIRCLE, GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

depreciation’. 7. The revenue has raised the following grounds in ITA No. 5989/Del/2018 for Assessment Year 2014-15:- “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 8,79,43,82,537/- which had been disallowed by the AO on the ground

CAIRN ENERGY HYDROCARBON LTD. ,GURGAON vs. DCIT, INTL. TAXATION, CIRCLE, GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

depreciation’. 7. The revenue has raised the following grounds in ITA No. 5989/Del/2018 for Assessment Year 2014-15:- “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 8,79,43,82,537/- which had been disallowed by the AO on the ground

CAIRN ENERGY HYDROCARBONS LTD.,GURGAON vs. DDIT, NEW DELHI

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

depreciation’. 7. The revenue has raised the following grounds in ITA No. 5989/Del/2018 for Assessment Year 2014-15:- “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 8,79,43,82,537/- which had been disallowed by the AO on the ground

PMV MALTINGS PVT LTD,NEW DELHI vs. ACIT CIRCLE-19(2), NEW DELHI

In the result the appeal of the assessee for ITA No

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

section 32 of the Act. The issue whether Goodwill arising on transfer is eligible for depreciation or not, is no longer Res-Integra, and has been settled by the Hon'ble SC in the case of Smifs Securities Ltd. (348 ITR 302), wherein held that “in the present case, it is the valuation that is challenged and not the eligibility

PMV MALTINGS PVT LTD,NEW DELHI vs. ACIT CIRCLE-19(2), NEW DELHI

In the result the appeal of the assessee for ITA No

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

section 32 of the Act. The issue whether Goodwill arising on transfer is eligible for depreciation or not, is no longer Res-Integra, and has been settled by the Hon'ble SC in the case of Smifs Securities Ltd. (348 ITR 302), wherein held that “in the present case, it is the valuation that is challenged and not the eligibility

ARICENT TECHNOLOGIES (HOLDINGS) LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE- 1 , NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla & Shri Prashant Maharishi

255 by allegedly re- characterizing the outstanding receivables from the associated enterprise as in the nature of international transaction of unsecured loans. 4.1 That the assessing officer/TPO erred on facts and in law in not appreciating that delay in receipt of receivable does not constitute an international transaction in terms of section 92B of the Act but is a consequence

ARIVENT TECHNOLOGIES HOLDINGS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla & Shri Prashant Maharishi

255 by allegedly re- characterizing the outstanding receivables from the associated enterprise as in the nature of international transaction of unsecured loans. 4.1 That the assessing officer/TPO erred on facts and in law in not appreciating that delay in receipt of receivable does not constitute an international transaction in terms of section 92B of the Act but is a consequence

ARICENT TECHNOLOGIES (HOLDINGS) LTD.,NEW DELHI vs. DCIT, CIRCLE- 3(1), NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla & Shri Prashant Maharishi

255 by allegedly re- characterizing the outstanding receivables from the associated enterprise as in the nature of international transaction of unsecured loans. 4.1 That the assessing officer/TPO erred on facts and in law in not appreciating that delay in receipt of receivable does not constitute an international transaction in terms of section 92B of the Act but is a consequence

M/S. ARICENT TECHNOLOGIES (HOLDINGS) LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla & Shri Prashant Maharishi

255 by allegedly re- characterizing the outstanding receivables from the associated enterprise as in the nature of international transaction of unsecured loans. 4.1 That the assessing officer/TPO erred on facts and in law in not appreciating that delay in receipt of receivable does not constitute an international transaction in terms of section 92B of the Act but is a consequence

ARICENT TECHNOLOGIES (HOLDINGS) LTD.,NEW DELHI vs. JCIT, SPECIAL RANGE- 1 , NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla & Shri Prashant Maharishi

255 by allegedly re- characterizing the outstanding receivables from the associated enterprise as in the nature of international transaction of unsecured loans. 4.1 That the assessing officer/TPO erred on facts and in law in not appreciating that delay in receipt of receivable does not constitute an international transaction in terms of section 92B of the Act but is a consequence

ADDL. CIT, SPECIAL RANGE- 1 , NEW DELHI vs. ARICENT TECHNOLOGIES (HOLDINGS) LTD., NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla & Shri Prashant Maharishi

255 by allegedly re- characterizing the outstanding receivables from the associated enterprise as in the nature of international transaction of unsecured loans. 4.1 That the assessing officer/TPO erred on facts and in law in not appreciating that delay in receipt of receivable does not constitute an international transaction in terms of section 92B of the Act but is a consequence

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.

Section 43(1) which defines the term “actual cost” and has made the following submissions : 33 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. 34 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. 35 ITA.No.1433/D/2014, CO.No.200/D/2017, CO.No.34/D/2019 in ITA.No

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.

Section 43(1) which defines the term “actual cost” and has made the following submissions : 33 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. 34 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. 35 ITA.No.1433/D/2014, CO.No.200/D/2017, CO.No.34/D/2019 in ITA.No