PARAMOUNT COMMUNICATIONS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A for making the disallowance of depreciation against the assessee. Section 43A thus could not apply in the case

M/S. PARAMOUNT COMMUNICTIONS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A for making the disallowance of depreciation against the assessee. Section 43A thus could not apply in the case

DCIT, NEW DELHI vs. M/S. PARAMOUNT COMMUNICATION PVT. LTD., NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A for making the disallowance of depreciation against the assessee. Section 43A thus could not apply in the case

DABUR INDIA LIMITED vs. COMMISSIONER OF INCOME TAX,

The appeals are dismissed

Bench: We Consider The Submissions Made In Support Of The Appeal The Following Facts Require To Be Noted:- 2.1 The Assessee Is In The Business Of Manufacturing Herbal Products & Cosmetics. On 30.11.2000 Assessee Filed Its Return For Assessment Year 2000-01 Wherein, It Declared An Income Of Rs 12,15,25,093/-. On 10.5.2001 The Return Was Processed Under Section 143(1)(A) Of The Act As The Returned Income. However, Notices Were Issued Under Section 143(2) Of The Act. 2.2 In Response To The Aforesaid Notices, Hearing Was Attended By An Authorized Representative Before The Assessing Officer. 2008:Dhc:2521

section 43A. Therefore, net profit will have to be computed in accordance with the provisions of the Act. The argument of the assessee is that in view of the judgment of the Supreme Court in Mahendra Mills’ case (2000) 243 ITR 56, it is open to the assessee not to claim depreciation

COMMISSIONER OF INCOME TAX vs. M/S JAGATJIT INDUSTRIES LIMITED

The appeal is disposed of

section 43A(1). All allowances including development rebate or depreciation allowance or the other types of deductions referred to in the sub-section

THE COMMISSIONER OF INCOME TAX vs. M/S JAGATJIT INDUSTRIES LTD.

The appeal is disposed of

section 43A(1). All allowances including development rebate or depreciation allowance or the other types of deductions referred to in the sub-section

BANDO INDIA PVT. LTD.,GURGAON vs. DCIT, CIRCLE-1(1), GURUGRAM

In the result, the appeal filed by the assessee is allowed

Bench: SHRI G. S. PANNU (Vice President), SHRI ANUBHAV SHARMA (Judicial Member)

Section 43A gets triggered, if there is a change in the rate of exchange at the time of making payment. Bando India Pvt. Ltd. vs. DCIT (ii) That the Ld. CIT(A) and Ld. AO have erred in adopting the provision for reinstatement of foreign currency loans as loss due to foreign exchange fluctuation on ECB loans paid during

M/S JAGAJIT INDUSTRIES LTD vs. DY. COMMR OF I.T.

The appeal is disposed of

section 43A(1). All allowances including development rebate or depreciation allowance or the other types of deductions referred to in the sub-section

M/S JAGATJIT INDUSTRIES LIMITED GURGAON vs. DY. COMMISSIONER OF INCOME TAX

The appeal is disposed of

section 43A(1). All allowances including development rebate or depreciation allowance or the other types of deductions referred to in the sub-section

JAGATJIT INDUSTRIES LTD vs. DY.COMMR.OF INCOME TAX,CENTRAL-VI

The appeal is disposed of

section 43A(1). All allowances including development rebate or depreciation allowance or the other types of deductions referred to in the sub-section

JAGATJIT INDUSTRIES LTD. vs. DY.COMMR.OF INCOME TAX,CENTRAL-VI

The appeal is disposed of

section 43A(1). All allowances including development rebate or depreciation allowance or the other types of deductions referred to in the sub-section

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

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

DCIT, CIRCLE- 62(1), NEW DELHI vs. L&T SUCG JV CC27, NEW DELHI

In the result, appeal of the Department is dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

Section 43A apply to capital expenditure, details are filed at pages-98 and 99 of the PB. The assessee restated the amount of outstanding liability payable in foreign currency as on 31.03.2014. The resultant foreign exchange fluctuation gain was capitalized by the assessee. The assessee has been following the AS-11 in respect of the foreign currency transaction and accordingly

L&T SUCG JV CC27,NEW DELHI vs. ADDL.CIT, RANGE-62, NEW DELHI

In the result, appeal of the Department is dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

Section 43A apply to capital expenditure, details are filed at pages-98 and 99 of the PB. The assessee restated the amount of outstanding liability payable in foreign currency as on 31.03.2014. The resultant foreign exchange fluctuation gain was capitalized by the assessee. The assessee has been following the AS-11 in respect of the foreign currency transaction and accordingly

COMMISSIONER OF INCOME TAX VI vs. CLIMATE SYSTEM PVT.LTD

Section 43A were applicable. He further observed that the decisions relied upon by the respondent assessee were not with reference to the foreign exchange fluctuations loss on loan account. . The aforesaid findings were reversed by the Commissioner of Income Tax (Appeals), who observed that the appellant had outstanding 15% Unsecured Redeemable Non-convertible Debentures of Rs. 100 Crores

M/S KEI INDUSTRIES LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is allowed

Section 43A for making the disallowance of depreciation against the assessee. Section 43A thus could not apply in the case

JINDAL STEEL & POWER LTD.,NEW DELHI vs. DCIT, HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

depreciating of Rs.2,36,30,757/-under section 32 of Income-tax, Act against Rs.49,81,364/- straight line method adopted by the AO on 220 KV Transmission line. 4. On the facts and in the circumstances of the case, the ld. CIT(A) has erred in allowing the appeal w.r.t. addition made on account of forfeited shares application which

JINDAL STEEL & POWER LTD.,HARYANA vs. DCIT, HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

depreciating of Rs.2,36,30,757/-under section 32 of Income-tax, Act against Rs.49,81,364/- straight line method adopted by the AO on 220 KV Transmission line. 4. On the facts and in the circumstances of the case, the ld. CIT(A) has erred in allowing the appeal w.r.t. addition made on account of forfeited shares application which