ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

depreciation is nil; or] (iv) to (vi) [****] (vii) the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 171 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1

ORIENTAL BANK OF COMMERCE,GURGAON vs. ADDL. CIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

depreciation is nil; or] (iv) to (vi) [****] (vii) the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 171 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

depreciation is nil; or] (iv) to (vi) [****] (vii) the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 171 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, CIRCLE- 19(1), NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

depreciation is nil; or] (iv) to (vi) [****] (vii) the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 171 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

depreciation is nil; or] (iv) to (vi) [****] (vii) the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 171 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, SPL. RANGE-07, NEW DELHI

In the result, the appeal filed by the Assessee stands allowed

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2016-17

depreciation is nil; or] (iv) to (vi) [****] (vii) the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 171 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

36 ITA.No.3377 to 3383/Del./2018 M/s. Sharda Educational Trust, Greater Noida, Uttar Pradesh. decision of the Hon’ble Jurisdictional Delhi High Court in the case of Director of Income tax (Int. Tax) Vs. Panalfa Autoelectrik Ltd ITA No. 292/2014 he drew the attention of the Bench to the same wherein the meaning of -managerial, technical and consultancy services were

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

36 ITA.No.3377 to 3383/Del./2018 M/s. Sharda Educational Trust, Greater Noida, Uttar Pradesh. decision of the Hon’ble Jurisdictional Delhi High Court in the case of Director of Income tax (Int. Tax) Vs. Panalfa Autoelectrik Ltd ITA No. 292/2014 he drew the attention of the Bench to the same wherein the meaning of -managerial, technical and consultancy services were

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

36 ITA.No.3377 to 3383/Del./2018 M/s. Sharda Educational Trust, Greater Noida, Uttar Pradesh. decision of the Hon’ble Jurisdictional Delhi High Court in the case of Director of Income tax (Int. Tax) Vs. Panalfa Autoelectrik Ltd ITA No. 292/2014 he drew the attention of the Bench to the same wherein the meaning of -managerial, technical and consultancy services were

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

36 ITA.No.3377 to 3383/Del./2018 M/s. Sharda Educational Trust, Greater Noida, Uttar Pradesh. decision of the Hon’ble Jurisdictional Delhi High Court in the case of Director of Income tax (Int. Tax) Vs. Panalfa Autoelectrik Ltd ITA No. 292/2014 he drew the attention of the Bench to the same wherein the meaning of -managerial, technical and consultancy services were

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

36 ITA.No.3377 to 3383/Del./2018 M/s. Sharda Educational Trust, Greater Noida, Uttar Pradesh. decision of the Hon’ble Jurisdictional Delhi High Court in the case of Director of Income tax (Int. Tax) Vs. Panalfa Autoelectrik Ltd ITA No. 292/2014 he drew the attention of the Bench to the same wherein the meaning of -managerial, technical and consultancy services were

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

36 ITA.No.3377 to 3383/Del./2018 M/s. Sharda Educational Trust, Greater Noida, Uttar Pradesh. decision of the Hon’ble Jurisdictional Delhi High Court in the case of Director of Income tax (Int. Tax) Vs. Panalfa Autoelectrik Ltd ITA No. 292/2014 he drew the attention of the Bench to the same wherein the meaning of -managerial, technical and consultancy services were

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

36 ITA.No.3377 to 3383/Del./2018 M/s. Sharda Educational Trust, Greater Noida, Uttar Pradesh. decision of the Hon’ble Jurisdictional Delhi High Court in the case of Director of Income tax (Int. Tax) Vs. Panalfa Autoelectrik Ltd ITA No. 292/2014 he drew the attention of the Bench to the same wherein the meaning of -managerial, technical and consultancy services were

RICHMOND EDUCATIONAL SOCIETY,NOIDA vs. DCIT/ACIT CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD

In the result, the appeal of the Assessee is allowed

vii) any lineal descendant of a brother or sister of either the individual or of the\nspouse of the individual.\nExplanation 2.—...........\nExplanation 3.—For the purposes of this section, a person shall be deemed to have a\nsubstantial interest in a concern, —\n(i) in a case where the concern is a company, if its shares (not being shares

PRAGATI POWER CORPORATION LTD,NEW DELHI vs. ACIT, CIRCLE 20(1), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed as indicated above

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

section 36(1)(iii) of the Act to disallow interest expenditure after such put to use. n) Source of funding in respect of Addition to Fixed Assets i) Addition of Rs.26,611.33 lakh was made to fixed asset which includes Rs.6,966.69 lakh pertaining to completed portion of Bawana Project transferred from CWIP ii) Assessee Co. had purchased other assets

CIT vs. CITICORP MARUTI FINANCE LIMITED

Appeal is dismissed accordingly

1) (vii) R/W Section 36 (2) of the Act.? (iv) Whether ITAT was correct in law in allowing depreciation @ 60% to the assessee

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

36,43,550/- made under section 44BB of the Act asserting that the assessee being non-resident company (resident of Canada) is entitled to be assessed in accordance with the provisions of the Act or provisions of the Double Taxation Avoidance Agreement between India and Canada (“India-Canada DTAA”) whichever is more beneficial at the option of the assessee. Vide

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

36,43,550/- made under section 44BB of the Act asserting that the assessee being non-resident company (resident of Canada) is entitled to be assessed in accordance with the provisions of the Act or provisions of the Double Taxation Avoidance Agreement between India and Canada (“India-Canada DTAA”) whichever is more beneficial at the option of the assessee. Vide