AREVA T & D INDIA LTD vs. THE COMMISSIONER OF INCOME TAX-II

Appeals are dismissed in favour of the assessee and

depreciation. On behalf of the respondent it was argued that applying the doctrine of noscitur sociis the expression “any other business or commercial rights of similar nature” used in Explanation 3(b) to Section 32(1) has to take colour from the preceding words “knowhow, patents, copyrights, trademarks, licenses, franchises”. It was urged that the Supreme Court had clearly held

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

In the result, the appeal of the Revenue is dismissed and cross objection of the assessee is allowed for statistical purposes

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2006-07

29 to section 43A, this includes section 32(2). Therefore, one cannot exclude depreciation allowance while computing profits derived from

PITNEY BOWES INDIA (P) LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, out of the five appeals of the assessee, the ITA Nos

Bench: Sh. I.C. Sudhir & Sh. O.P. Kant

section 143(3) of the Act on 09/12/2011 after disallowing depreciation on government approvals and rejecting the claim of depreciation on non-compete fee. In the appeal filed before the ld. CIT- (A), the assesee challenged validity of reassessment proceeding and contested disallowance made by the Assessing Officer. The assessee also raised additional ground seeking depreciation on goodwill

VEDANTA LTD (SUCCESSOR TO CAIRN INDIA LTD),GURGAON vs. ACIT, CIRCLE-26(1), NEW DELHI

Bench: Hon’Ble, Shri N.K. Saini & Shri Kuldip Singh

depreciation of Rs.17,12,04,096/- under clause (iia) read with clause (ii) of section 32(1) of the Act. Consequently, Grounds No. 4 and 4.1 are determined against the taxpayer. GROUNDS NO. 5 and 5.1 29

KARAN RAGHAV EXPORT P LTD

Appeal is dismissed

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

29 provides that it is done in accordance with provision of section 30 to 43D. The depreciation is covered by section

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 32(1)(ii) of the Act and hence depreciation on the same shall be eligible at the rate applicable to other intangible assets specified therein. The assessee has also placed reliance on various judicial precedents.” 68. The ld. DRP after considering the submissions of the assessee directed the AO to allow the depreciation on the goodwill by observing

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 32(1)(ii) of the Act and hence depreciation on the same shall be eligible at the rate applicable to other intangible assets specified therein. The assessee has also placed reliance on various judicial precedents.” 68. The ld. DRP after considering the submissions of the assessee directed the AO to allow the depreciation on the goodwill by observing

COMMISSIONER OF INCOME TAX DELHI-2 vs. CENTRAL WAREHOUSING CORPORATION

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 10 (29) of the Act is to be computed after excluding depreciation as part of the expenditure and taking

PRASIDH FINCAP LTD,NEW DELHI vs. ITO, WARD-20(1), NEW DELHI

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

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

depreciation is to his advantage. Income under the head "profits and gains of business or profession" is chargeable to income-tax under section 28 and income under section 29

PRASIDH FINCAP LTD,NEW DELHI vs. ITO, WARD-20(2), NEW DELHI

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

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

depreciation is to his advantage. Income under the head "profits and gains of business or profession" is chargeable to income-tax under section 28 and income under section 29

PRASIDH FINCAP LTD. ,NEW DELHI vs. DCIT CIRCLE-20(1), NEW DELHI

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

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

depreciation is to his advantage. Income under the head "profits and gains of business or profession" is chargeable to income-tax under section 28 and income under section 29

ADIT (E), NEW DELHI vs. FORTUNE SOCIETY FOR DEVELOPMENT AND PROMOTION OF INTERNATIONAL BUSINESS, NEW DELHI

In the result ground No. 2

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiadit(E), Vs. Fortune Society For Tc-Ii, New Delhi Development & Promotion Of International Business, G-4, Community Centre, Naraina Vihar, New Delhi Pan:Aaatf0849L (Appellant) (Respondent)

Section 2(45) of the Act and that the word "income" is a wider term than the expression "profits and gains of business or profession". Reference was made to the nature of depreciation and it was pointed out that depreciation was nothing but decrease in the value of property through wear, deterioration or obsolescence. It was observed that depreciation

CENTRAL WAREHOUSING CORPORATION,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the Revenue and appeal of the assessee are partly allowed as indicated above

Bench: Shri Challa Nagendra Prasada N D Shri M. Balaganesh

section 10(29) of the Act in respect of such income. However, in the year under ITA. No. 4190/Del/2011 AND ITA. No. 4334/Del/2011 consideration it is the finding of the ld. CIT (Appeals) that in the special audit it is clearly identified the expenditure to which the benefit is to be given to the assessee the matter need

ACIT, NEW DELHI vs. M/S. CENTRAL WAREHOUSING CORPORATION, NEW DELHI

In the result, appeal of the Revenue and appeal of the assessee are partly allowed as indicated above

Bench: Shri Challa Nagendra Prasada N D Shri M. Balaganesh

section 10(29) of the Act in respect of such income. However, in the year under ITA. No. 4190/Del/2011 AND ITA. No. 4334/Del/2011 consideration it is the finding of the ld. CIT (Appeals) that in the special audit it is clearly identified the expenditure to which the benefit is to be given to the assessee the matter need

COMMISSIONER OF INCOME TAX - IV vs. BEVERAGES PVT. LTD

Section 143(3) of the Act and the assessment was completed and loss was determined at Rs.2,82,90,29,838/- and the assessing officer had allowed the depreciation

COMMISSIONER OF INCOME TAX - IV vs. BEVERAGES PVT. LTD

Section 143(3) of the Act and the assessment was completed and loss was determined at Rs.2,82,90,29,838/- and the assessing officer had allowed the depreciation

COMMISSIONER OF INCOME TAX - IV vs. BEVERAGES PVT. LTD

Section 143(3) of the Act and the assessment was completed and loss was determined at Rs.2,82,90,29,838/- and the assessing officer had allowed the depreciation

COMMISSIONER OF INCOME TAX vs. HYBRID RICE INTERNATIONAL PVT. LTD

The appeals are dismissed

Bench: Becoming An “Assessee” Can Still Be Treated As Actual Cost To The Assessee In Complete Disregard To The Peculiar Circumstances Of The Case?”

depreciation is to his advantage. Income under the head “profits and gains of business or profession” is chargeable to income tax under section 28 and income under section 29

CIT vs. DHARAMPAL SATYAPAL

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

Section provides for a mechanism for computation of the value of depreciable assets for the purposes of determining the net worth of an undertaking or a division. 35. In Mahendra Mills (supra) the Court considered the question whether it was obligatory on the Assessee to claim depreciation and held that the deduction on account of depreciation allowance was available