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

43D of the Act and thus effect has to be given to section 32 of the Income-tax Act for computation of the profits and gains of the business or profession. Sub-section (2) of section 32 provides for the carry forward of the unabsorbed 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

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 "actually allowed". Hence we find no merit in the civil appeals filed by the Department. 17. Before concluding, we may state that the judgment of this Court in CIT v Willamson Financial Services [2008] 297 ITR 17, has no application to the present cases. Willamson Financial Services' case (supra) was rendered in the context of deduction under section 80HHC

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 "actually allowed". Hence we find no merit in the civil appeals filed by the Department. 17. Before concluding, we may state that the judgment of this Court in CIT v Willamson Financial Services [2008] 297 ITR 17, has no application to the present cases. Willamson Financial Services' case (supra) was rendered in the context of deduction under section 80HHC

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 "actually allowed". Hence we find no merit in the civil appeals filed by the Department. 17. Before concluding, we may state that the judgment of this Court in CIT v Willamson Financial Services [2008] 297 ITR 17, has no application to the present cases. Willamson Financial Services' case (supra) was rendered in the context of deduction under section 80HHC

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

M/S. RAJ BUILDCON CONSTRUCTION LTD.,,GURGAON vs. JCIT, GURGAON

In the result, the appeal of the assessee is allowed partly for statistical purposes

Bench: Shri Bhavnesh Saini & Shri O.P. Kantassessment Year: 2010-11 M/S. Raj Buildcon Vs. Jcit(A), Construction Ltd., Range-Ii, Gurgaon (Haryana) 404, Welldone Tech Park, Sector-48, Sohna Road, Gurgaon (Haryana) Pan :Aadcr6387F (Appellant) (Respondent) Appellant By Shri Rohit Tiwari, Adv. Respondent By Smt. Rinku Singh, Sr.Dr

depreciation on the net profit estimated by the A.O @ 8% of gross receipts, there are a number of judicial pronouncements as per which once profit is estimated by invoking provisions of Section 145(3) of the Income Tax Act, the appellant is not entitled to any further deduction as per provisions of Section 30 to Section 43D

RRB ENERGY LTD.,NEW DELHI vs. ITO, NEW DELHI

The appeal of the assessee is hereby allowed

Bench: Smt. Beena A. Pillaia N D Dr. B.R.R. Kumarassessment Year: 2006-07 Rrb Energy Ltd. Ito Ga-1/B1 Extn. Mohan Coop. Indl. Ward- 15 (2) Vs. Estate New Delhi New Delhi Pan: Aaacv0109N (Appellant) (Respondent)

43D and that includes depreciation. The assessee ought to have claim depreciation, expenses on power generation and give effect to unabsorbed depreciation. Hence the reopening is rightly valid. He further argued that since this is the eleventh year of claiming of exemption the assessee is no more eligible for such exemption as per the provisions of Section

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

M/S HOUSING & URBAN DEVLOPMENT CORPORATION LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

M/S HOUSING & URBAN DEVLOPMENT CORPORATION LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

ACIT, NEW DELHI vs. M/S. HOUSING & URBAN DEVELOPMENT CORP. LTD. (HUDCO), NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

ACIT, NEW DELHI vs. M/S. HOUSING & URBAN DEVELOPMENT CORP. LTD. (HUDCO), NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

M/S. HOUSING AND URBAN DEVELOPMENT CORPORATION LTD (HUDCO),NEW DELHI vs. DCIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

depreciation on estimated stamp duty or registration. Accordingly, the ground of the appeal is dismissed. 8. In ground no. 4, the assessee has challenged the disallowance of financial charges written off of Rs. 3,07,77,527/-, claimed in the computation of income. 15 ITA Nos. 4303/Del/2009; 1166 to1168/Del/2012; 3365 & 3366/Del/2013; 1561 & 1562/Del/2012 Housing & Urban Development Corp. Ltd. According

THE DIRECTOR OF INCOME TAX LAXMI NAGAR DELHI vs. TCI FOUNDATION 10 RAM BAGH AZAD MARKET ROHTAK ROAD NEW DELHI

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

sections 30 to 43D which includes depreciation under section 32, the assessee is entitled is the case pressed before us by the senior

DIRECTOR OF INCOME TAX (EXEMPTION) vs. COUNCIL OF SCIENTIFIC & INDUSTRIAL RESEARCH

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

sections 30 to 43D which includes depreciation under section 32, the assessee is entitled is the case pressed before us by the senior

DIRECTOR OF INCOME TAX (EXEMPTION) vs. INDIAN TRADE PROMOTION ORGANISATION

sections 30 to 43D which includes depreciation under section 32, the assessee is entitled is the case pressed before us by the senior