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

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmam/S. The Oriental Insurance Co. Ltd, Vs. The Dcit, A 25/27, Asaf Ali Road, Ltu, New Delhi New Delhi-110002 (Appellant) (Respondent) Pan: Aaact0627R

44 of the Income Tax Act whereas second category is covered under section 28 of the Income Tax Act, 1961. The same was held on the basis that the gain from transfer of long term capital asset being equity shares was part of appellant‟s business activities during the previous year and as such all these securities constituted stock

MAX NEW YORK LIFE INSURANCE COMPANY LTD.,GURGAON vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimax New York Life Insurance Vs. Dcit, Company Ltd, Circle-1, Ltu, New Delhi Plot No. 90A, Sector-18, Udyog Vihar, Haryana (Appellant) (Respondent)

44: 'Notwithstanding anything to the contrary contained in the provisions of this Act relating to the computation of income chargeable under the head "interest on Securities", "Income from House Property", "capital gains" or "Income from other sources", or in section 199 or in section 28 to 43B, profits and gains of any business of insurance, including any such business carried

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

In the result, the grounds raised by the Revenue are dismissed

Bench: Shri R.K. Panda & Shri Amit Shukla

Section 44 of the Income Tax Act, the profits and gains of any insurance business is computed in accordance with the rules contained in the First Schedule to the Act. In rule 5 of this Schedule, profits and gains of any business of insurance, other than life insurance, are taken to be balance of profits disclosed in the annual accounts

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

In the result, the grounds raised by the Revenue are dismissed

Bench: Shri R.K. Panda & Shri Amit Shukla

Section 44 of the Income Tax Act, the profits and gains of any insurance business is computed in accordance with the rules contained in the First Schedule to the Act. In rule 5 of this Schedule, profits and gains of any business of insurance, other than life insurance, are taken to be balance of profits disclosed in the annual accounts

PITNEY BOWES INDIA (P) LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, out of the five appeals of the assessee, the ITA Nos

Bench: Sh. I.C. Sudhir & Sh. O.P. Kant

depreciation on government approval and also made/claim of Rs.1,18,89,458/- being 1/5th of “non- compete fee” as deferred revenue expenditure. The reasons recorded were provided to the assessee. Notices under section 143(2) and 142(1) of the Act was issued and complied with. The assessment was completed at total income of Rs.5,94,44

GEODIS OVERSEAS PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

The appeal of the assessee is allowed

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

depreciation under Section 32(1)(ii) of the Act. In the circumstances, the substantial question of law is decided in the affirmative and this appeal is allowed in favour of the assessee and against the Revenue and the impugned order is set aside.” 44

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

depreciation on producing facilities @ 5.28% on straight line method, thereby making adjustment of Rs.180,40,27,029 to the book profit under section 115JB of the Act. 6. That on the facts and circumstances of the case & in law, the Ld. AO/TPO/DRP erred in not appreciating that the transactions of reimbursement of Rs.2,00,40,842, Manpower, general and administrative

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

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

Bench: Shri Vikas Awasthy & Shri M. Balaganeshm/S. The Oriental Insurance Co. Ltd, Vs. The Acit, A 25/27, Asaf Ali Road, New Delhi- Circle-16(1), 110003 New Delhi (Appellant) (Respondent) Pan: Aaact0627R Assessee By : Shri Tarandeep Singh, Adv Revenue By: Shri Mahesh Kumar, Cit (Dr) Date Of Hearing 19/05/2025 Date Of Pronouncement 14/08/2025

Section 44 of the Income Tax Act, the profits and gains of any insurance business is computed in accordance with the rules contained in the First Schedule to the Act. In rule 5 of this Schedule, profits and gains of any business of insurance, other than life insurance, are taken to be balance of profits disclosed in the annual accounts

DDIT, NEW DELHI vs. M/S MITSUI & CO. LTD., NEW DELHI

In the result, all the three appeals filed by the Revenue are dismissed and the two appeals filed by the assessee are allowed

Bench: Shri R.K. Panda & Shri Kuldip Singh

section (2), it is immaterial whether these are paid in India or outside India. On the other hand, amount received or deemed to be received have to be in India.” 29. Thus, the Hon’ble Apex court has held that the amount which is covered in clause (a) only will be within the purview of section 44BB

M/S. MITSUI & CO. LTD.,NEW DELHI vs. DDIT, NEW DELHI

In the result, all the three appeals filed by the Revenue are dismissed and the two appeals filed by the assessee are allowed

Bench: Shri R.K. Panda & Shri Kuldip Singh

section (2), it is immaterial whether these are paid in India or outside India. On the other hand, amount received or deemed to be received have to be in India.” 29. Thus, the Hon’ble Apex court has held that the amount which is covered in clause (a) only will be within the purview of section 44BB

DDIT, NEW DELHI vs. M/S. MITSUI & CO. LTD., NEW DELHI

In the result, all the three appeals filed by the Revenue are dismissed and the two appeals filed by the assessee are allowed

Bench: Shri R.K. Panda & Shri Kuldip Singh

section (2), it is immaterial whether these are paid in India or outside India. On the other hand, amount received or deemed to be received have to be in India.” 29. Thus, the Hon’ble Apex court has held that the amount which is covered in clause (a) only will be within the purview of section 44BB

DDIT, NEW DELHI vs. M/S. MITSUI AND CO. LTD., NEW DELHI

In the result, all the three appeals filed by the Revenue are dismissed and the two appeals filed by the assessee are allowed

Bench: Shri R.K. Panda & Shri Kuldip Singh

section (2), it is immaterial whether these are paid in India or outside India. On the other hand, amount received or deemed to be received have to be in India.” 29. Thus, the Hon’ble Apex court has held that the amount which is covered in clause (a) only will be within the purview of section 44BB

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

44,191/- as income from business (before allowing set off of unabsorbed depreciation and deduction under section 10B of the Act), instead

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)

44, 45 & 46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to ' use ' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation

THE COMMISSIONER OF INCOME TAX - INTERNATIONAL TAXATION -3 vs. TECHNIP FRANCE SAS

In the result the writ petition fails and is dismissed with no

Bench: Us It Has Been Conceded That Insofar As The Issues Emanating From Section 9(1)(Vii) Read With Section 44Da Of The Income Tax Act, 1961 [“Act”] Are Concerned, The Same Stands Conclusively Answered By The Supreme Court In Its Judgment Rendered In Oil & Natural Gas Corporation Vs. Commissioner Of Income Tax & Anr. [(2015) 376 Itr 306]. 2. Having Gone Through The Detailed Order Which Was Penned By Us On 22 February 2023, We Note That The Solitary Issue Which Now This Is A Digitally Signed Order. The Authenticity Of The Order Can Be Re-Verified From Delhi High Court Order Portal By Scanning The Qr Code Shown Above. The Order Is Downloaded From The Dhc Server On 13/12/2024 At 15:00:35

44- DA or] Section 115-A or Section 293-A apply for the purposes of computing profits or gains or any other income referred to in those sections. (2) The amounts referred to in sub-section (1) shall be the following, namely:— (a) the amount paid or payable (whether in or out of India) to the assessee

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:

depreciation @ 60%. 29. Next issue vide Ground No. 12 relates to the disallowance of Rs.16,90,576/- u/s 14A of the Act r.w. Rule 8D of the Income Tax Rules, 1962. 30. The fact related to this issue in brief are that the assessee during the year under consideration earned dividend income of Rs.2,44,84,377/- from investment held

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:

depreciation @ 60%. 29. Next issue vide Ground No. 12 relates to the disallowance of Rs.16,90,576/- u/s 14A of the Act r.w. Rule 8D of the Income Tax Rules, 1962. 30. The fact related to this issue in brief are that the assessee during the year under consideration earned dividend income of Rs.2,44,84,377/- from investment held

LANDBASE INDIA LTD.,GURGAON vs. DCIT, NEW DELHI

In the result, appeal of the assessee for assessment year 2011-12 is allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

section 32 of the Act. 6. Based on the above stated submission he prayed that for the aforesaid cumulative reasons, it is respectfully submitted that the assessee has rightly claimed depreciation on golf course as “plant”. 7. The LD DR vehemently supported the orders of the lower authorities. The main contention of the learned departmental representative was that