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

Appeals are dismissed in favour of the assessee and

30 of 31 14. In view of the above discussion, we are of the view that the specified intangible assets acquired under slump sale agreement were in the nature of “business or commercial rights of similar nature” specified in Section 32(1)(ii) of the Act and were accordingly eligible for depreciation

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

depreciation and that the assessee has not completely followed section 32(2) for computing its income whereas the income from profit and gains of the business or profession should be computed as per section 29 of the Act and in accordance with the provisions of section 30

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

section 115 JB of the Act by using “Unit Of Production Method” instead of allowing depreciation on producing facility at 5.28% on straight line method. 9. The taxpayer carried the matter by way of filing objections before the ld. DRP who has disposed of the same by confirming the proposal made by the ld. TPO. 10. In compliance

KAVITA AGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 19, NEW DELHI

Depreciation Allowance u/s 32 and Investment Allowance u/s 32A. 11.9 Now let’s deliberate upon the second part of Rule 5(a) which prescribes for an adjustment on account of “provision for any tax, dividend, reserve or any other provision as may be prescribed which is not admissible under the provisions of sections 30

M/S THE ORIENTAL INSURANCE CO. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Depreciation Allowance u/s 32 and Investment Allowance u/s 32A. 11.9 Now let’s deliberate upon the second part of Rule 5(a) which prescribes for an adjustment on account of “provision for any tax, dividend, reserve or any other provision as may be prescribed which is not admissible under the provisions of sections 30

INTERNATIONAL HOSPITAL LIMITED vs. DCIT CIRCLE 12 (2)

Bench: HON'BLE MR. JUSTICE RAVINDER DUDEJA,HON'BLE MR. JUSTICE YASHWANT VARMA

30. The combined effect, therefore, of section 394(2) of the Companies Act, 1956, section 2(1A) and various other provisions of the Income-tax Act, is that despite amalgamation, the business, enterprise and undertaking of the transferor or amalgamating company - which ceases to exist, after amalgamation, is treated as a continuing one, and any benefits, by way of carry

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:

30,717 pertaining to units other than those claiming deduction under section 1OA of the Act despite the fact that the said business loss is mentioned in the computation of income in the assessment order. 17. The Ld. AO has erred in not allowing deduction under section 80G of the Act amounting to Rs. 104,000 as per the return

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:

30,717 pertaining to units other than those claiming deduction under section 1OA of the Act despite the fact that the said business loss is mentioned in the computation of income in the assessment order. 17. The Ld. AO has erred in not allowing deduction under section 80G of the Act amounting to Rs. 104,000 as per the return

DCIT, NEW DELHI vs. M/S. HERO HONDA MOTORS LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

30,53,826/- under section 80IA of the Act in respect of the power generated at the aforesaid unit and captively consumed by the assessee. The deduction claimed was duly supported by Chartered Accountant’s Report. It was submitted that for the purposes of computing deduction under section 80IA, the assessee adopted transfer price of power, captively consumed

M/S. HERO MOTOCORP LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

30,53,826/- under section 80IA of the Act in respect of the power generated at the aforesaid unit and captively consumed by the assessee. The deduction claimed was duly supported by Chartered Accountant’s Report. It was submitted that for the purposes of computing deduction under section 80IA, the assessee adopted transfer price of power, captively consumed

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 is to be computed in accordance with the provisions contained in sections 30

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 is to be computed in accordance with the provisions contained in sections 30

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 is to be computed in accordance with the provisions contained in sections 30

KARAN RAGHAV EXPORT P LTD

Appeal is dismissed

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

section 30 to 43D. The depreciation is covered by section 32 and therefore, it is to be considered if the depreciation

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

DDIT, NEW DELHI vs. SH. ATUL MEHTA, NEW DELHI

Appeal is dismissed

Bench: Shri I. C. Sudhir & Shri L. P. Sahu

section 56(2)(iii), then both streams of incomes shall be in nature of income from other sources and depreciation shall be available to the assessee even on income component pertaining to house property. The appellant has declared income pertaining to lease rental agreement as income from house property and claimed 30

DCIT, NEW DELHI vs. M/S. SB PACKAGING LTD., NEW DELHI

In the result, appeal of the revenue is dismissed

Bench: Sh. Bhavnesh Saini & Sh. L.P.Sahudcit Sb Packaging Ltd. 3Rd Floor, Vardhaman Plaza Circle-7(1) New Delhi Corner Inder Enclave, Paschim Vihar Vs. New Delhi Pan : Aabcs3731Q Pan : (Appellant) (Respondent)

section 147 of the Income Tax Act, 1961.” 3. The Ld. Assessing officer observed that the assessee company has claimed depreciation of Rs. 1,39,55,650/- and which has been allowed @ 30

RURAL COMMUNICATION AND MARKETING PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee stands dismissed

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra, Ac C O U N Ta N T Member

30 on such commercial vehicles. These vehicles are the main source of income for the assessee and undergo lot of wear and tear while on roads in rural areas. In fact, due to hard rural conditions, these vehicles undergo more than usual depreciation." 2.1 The reply of the assessee was duly considered but not found tenable, as the assessee company