M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

B-96, Phase-III Industrial Area, Mohali having a covered area of 14346 sq.ft. at a value of Rs. 66 lakhs, which had Nil cost on account of deduction allowed to Deltron Ltd. u/s 35(i)(iv)(35)(2).-PBA-3 4) Explanation 3 to section 43(1) specifically provides that the Assessing Officer shall determine the actual cost having

M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

B-96, Phase-III Industrial Area, Mohali having a covered area of 14346 sq.ft. at a value of Rs. 66 lakhs, which had Nil cost on account of deduction allowed to Deltron Ltd. u/s 35(i)(iv)(35)(2).-PBA-3 4) Explanation 3 to section 43(1) specifically provides that the Assessing Officer shall determine the actual cost having

M/S. CONTINENTAL DEVICE INDIA LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

B-96, Phase-III Industrial Area, Mohali having a covered area of 14346 sq.ft. at a value of Rs. 66 lakhs, which had Nil cost on account of deduction allowed to Deltron Ltd. u/s 35(i)(iv)(35)(2).-PBA-3 4) Explanation 3 to section 43(1) specifically provides that the Assessing Officer shall determine the actual cost having

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 attributable to the taxable income came within the meaning of the words "actually allowed" in the old section corresponding to section 43(6)(b

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 attributable to the taxable income came within the meaning of the words "actually allowed" in the old section corresponding to section 43(6)(b

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 attributable to the taxable income came within the meaning of the words "actually allowed" in the old section corresponding to section 43(6)(b

COMMISSIONER OF INCOME TAX vs. WOODWARD GOVERNOR INDIA PVT. LTD.

The appeal is dismissed

depreciation or investment allowance in the context of Section 43-A of the Act. (e) The amendment to Section 43-A with effect from 1-4- 2003 is only clarificatory and has a retrospective effect. Reliance is placed on the decisions in CWT -vs- Swaran Kumar Swarup, 210 ITR 886 (SC), Poddar Cement -vs- CIT, 226 ITR 625 (SC), Lohia

COMMISSIONER OF INCOME TAX vs. INDIA PVT. LTD.

The appeal is dismissed

depreciation or investment allowance in the context of Section 43-A of the Act. (e) The amendment to Section 43-A with effect from 1-4- 2003 is only clarificatory and has a retrospective effect. Reliance is placed on the decisions in CWT -vs- Swaran Kumar Swarup, 210 ITR 886 (SC), Poddar Cement -vs- CIT, 226 ITR 625 (SC), Lohia

INTERNATIONAL HOSPITAL LIMITED vs. DCIT CIRCLE 12 (2)

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

43] was distinguished with the following observations : (Skylight Hospitality case [Skylight Hospitality LLP v. CIT, 2018 SCC OnLine Del 7155 : (2018) 405 ITR 296] , SCC OnLine Del para 19) “19. Petitioner relies on Spice Infotainment v. CIT [ This judgment has also been referred to as Spice Infotainment Ltd. v. CIT, (2012) 247 CTR (Del) 500] . Spice Corp. Ltd., the company

COMMISSIONER OF INCOME TAX (C) - II vs. MIRA EXIM LTD.

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

depreciation, matter has been remanded to the Assessing Officer. 7. Order of the tribunal, while dealing with the contentions raised by the Revenue, has referred to Explanation 7 to Section 43(1) and Explanation 2(b) to Section 43(6

COMMISSIONER OF INCOME TAX-II vs. MIRA EXIM

depreciation, matter has been remanded to the Assessing Officer. 7. Order of the tribunal, while dealing with the contentions raised by the Revenue, has referred to Explanation 7 to Section 43(1) and Explanation 2(b) to Section 43(6

COMMISSIONER OF INCOME TAX (C) - II vs. MIRA EXIM LTD.

depreciation, matter has been remanded to the Assessing Officer. 7. Order of the tribunal, while dealing with the contentions raised by the Revenue, has referred to Explanation 7 to Section 43(1) and Explanation 2(b) to Section 43(6

COMMISSIONER OF INCOME TAX (C) - II vs. MIRA EXIM LTD.

depreciation, matter has been remanded to the Assessing Officer. 7. Order of the tribunal, while dealing with the contentions raised by the Revenue, has referred to Explanation 7 to Section 43(1) and Explanation 2(b) to Section 43(6

B4S SOLUTION P.LTD,GHAZIABAD vs. ACIT, CIRCLE-4(2), NEW DELHI

In the result, Appeal filed by the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar U.S.

depreciation). Each of these deductions, has its contours, depending upon the expressions used, and the conditions that are to be met. It is therefore necessary to bear in mind that specific enumeration of deductions, dependent upon fulfillment of particular conditions, would qualify as allowable deductions: failure by the assessee to comply with those conditions, would render the claim vulnerable

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

In the result, the appeal is dismissed

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

43(6) clause (c) Explanation 2(b). The assessee has applied the depreciation rates on such assets as applicable to such assets i.e. 100% on purely temporary erections such as wooden structures as prescribed in Income tax Rules, 1962. Therefore, there is no furnishing of inaccurate particulars of income. The penalty should be deleted. 4. The appellant contends that

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)

b) of sub-section (2) shall be the following, namely : - (i)...... (ii)...... ....... (6) In this section where any income is required to be applied or accumulated or set apart for application, then, for such purposes the income shall be determined without any deduction or allowance by way of depreciation or otherwise in respect of any asset, acquisition of which

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

Appeals are dismissed in favour of the assessee and

6) of Section 43:] [Explanation 3.- For the purposes of this Sub-section, [the expressions "assets"] shall mean - (a) tangible assets, being buildings, machinery, plant or furniture; (b) intangible assets, being know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature.] [Explanation 4.- For the purposes of this Sub-section, the expression

ITO, WARD-35(2), NEW DELHI vs. VIJAY GUPTA, DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

43. While supporting the view taken by the authorities below, Revenue seeks reliance upon the provisions of sub-clauses (i) & (iii) of clause (b) of sub- section (2) of Section 8O-IC, which provide for benefit of deduction @ 100% for ten assessment years. We do not comprehend as to how would that make any difference. This Page