DCIT, INTL. TAXATION, CIRCLE, GURGAON vs. CAIRN ENERGY HYDROCARBON LTD. , GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

section 40a(i) and 40a(ia) of the Income Tax Act, 1961 and these expenses were also found unascertainable & unverifiable by the assessing officer. 2. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A] has erred in allowing the total time cost and expenses recharged by the operator to the Unincorporated Joint Venture

DDIT, NEW DELHI vs. M/S. CAIRN ENERGY HYDROCARBONS LTD., GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

section 40a(i) and 40a(ia) of the Income Tax Act, 1961 and these expenses were also found unascertainable & unverifiable by the assessing officer. 2. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A] has erred in allowing the total time cost and expenses recharged by the operator to the Unincorporated Joint Venture

CAIRN ENERGY HYDROCARBON LTD. ,GURGAON vs. DCIT, INTL. TAXATION, CIRCLE, GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

section 40a(i) and 40a(ia) of the Income Tax Act, 1961 and these expenses were also found unascertainable & unverifiable by the assessing officer. 2. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A] has erred in allowing the total time cost and expenses recharged by the operator to the Unincorporated Joint Venture

CAIRN ENERGY HYDROCARBON LTD. ,GURGAON vs. DCIT, INTL. TAXATION, CIRCLE, GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

section 40a(i) and 40a(ia) of the Income Tax Act, 1961 and these expenses were also found unascertainable & unverifiable by the assessing officer. 2. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A] has erred in allowing the total time cost and expenses recharged by the operator to the Unincorporated Joint Venture

DCIT, INTL. TAXATION, CIRCLE, GURGAON vs. CAIRN ENERGY HYDROCARBON LTD. , GURGAON

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

section 40a(i) and 40a(ia) of the Income Tax Act, 1961 and these expenses were also found unascertainable & unverifiable by the assessing officer. 2. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A] has erred in allowing the total time cost and expenses recharged by the operator to the Unincorporated Joint Venture

M/S. BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. JCIT (INTERNATIONAL TAXATION), DEHRADUN

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

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Bg Exploration & Production India Jcit (International Taxation), Ltd., Dehradun. Lake Boulevard Road, Vs. Hiranandani Business Park, Powai, Mumbai.

44C with respect to the returned income and not income assessed. Ground No. 13: Disallowance of depreciation on Panna-Mukta Well Cost 5 13.1 The learned AO / DRP erred in law and in facts in disallowing a sum of Rs.26,57,46,314 by considering depreciation rate of 15% on the Panna-Mukta Well Cost as per section

MUFG BANK LTD,NEW DELHI vs. ACIT (INTERNATIONAL TAXATION) CIRCLE-2(2)(1), NEW DELHI

In the result appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Mufg Bank Ltd, Vs. Acit (International Taxation), 5Th Floor, Worldmark 2, Asset 8, Circle-2(2)(1), Aerocity, Nh-8, New Delhi New Delhi Pan: Aabct3880D (Appellant) (Respondent)

depreciation and certain expenditure covered u/s 36 (1) (ix) of the act. It also prohibits allowance under sections 72, 73, 74 and 74A with respect to the losses carried forward. The ld AR has not addressed any argument on the facts of the case that when the assessee‟s income is taxed on gross basis as per rates adopted

DCIT, INT. TAX. CIRCLE, GURGAON vs. CAIRN ENERGY HYDROCARBONS LIMITED, GURGAON

In the result, all the appeals preferred by the assessee as well as the Revenue

Bench: Shri Kul Bharat & Shri M. Balaganesh[A.Y.: 2015-16] & [A.Y.: 2016-17]

depreciation’.” 5. The grounds of appeal raised by Revenue are as under: ITA No. 8983/Del/2019 (A.Y. 2015-16) (Revenue’s appeal): “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 2081,87,03,681/- which had been disallowed

CAIRN ENERGY HYDROCARBON LTD. ,GURGAON vs. JCIT,(OSD) INTL. TAXATION, CIRCLE, GURGAON

In the result, all the appeals preferred by the assessee as well as the Revenue

Bench: Shri Kul Bharat & Shri M. Balaganesh[A.Y.: 2015-16] & [A.Y.: 2016-17]

depreciation’.” 5. The grounds of appeal raised by Revenue are as under: ITA No. 8983/Del/2019 (A.Y. 2015-16) (Revenue’s appeal): “1. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in allowing the exploration and development expenditure of Rs. 2081,87,03,681/- which had been disallowed

DDIT, NEW DELHI vs. M/S. THE BANK OF TOKYO MITSUBISHI UFJ LTD., NEW DELHI

Appeal is dismissed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

depreciation on investment while computing book profits under section 115JB for Rs. 34,00,710 and 9,26,88,687 x. Deduction of Head Office Expenditure as per section 44C

M/S. THE BANK OF TOKYO-MITSUBISHI, UFJ LTD.,NEW DELHI vs. DDIT, NEW DELHI

Appeal is dismissed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

depreciation on investment while computing book profits under section 115JB for Rs. 34,00,710 and 9,26,88,687 x. Deduction of Head Office Expenditure as per section 44C

TRAVELPORT INTERNATIONAL OPERATIONS LIMITED,BERKSHIRE vs. ACIT, CIRCLE-3(1)(1), INT. TAX-3, NEW DELHI

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

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2016-17

depreciation on Vendor Relationship amounting to USD 32,137 7.3.1. That on the facts and in the circumstances of the case and in law, the Assessing Officer and the DRP have erred by not appreciating that this expense is incurred by the applicant for the first time in Assessment year 2016-17 and hence, should be considered for deduction

DCIT (INTERNATIONAL TAXATION), GURGAON vs. M/S. MSV INTERNATIONAL INC., GURGAON

In the result appeal of the revenue is dismissed

Bench: Smt Diva Singh & Shri R.K. Panda

depreciation, etc. Article 7(3) does not mean that the whole concept of determination of the profit by deducting expenditure incurred from the receipt is ignored and income is computed under presumptive scheme prescribed under section 44D. Under Article 12, two options have been provided. First, where fee for included services are being provided without a PE and in that

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

44C and that part of the aforesaid expenditure which was not approved by the Operator Board of the PSC, was outside the purview of section 42(1) of the Act. Accordingly, such expenses incurred by the appellant were held to be in the nature of head office ITA Nos. 7476 & 7477Del/2018 29 BG Exploration & Production India Ltd. expenditure allowable only

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

44C and that part of the aforesaid expenditure which was not approved by the Operator Board of the PSC, was outside the purview of section 42(1) of the Act. Accordingly, such expenses incurred by the appellant were held to be in the nature of head office ITA Nos. 7476 & 7477Del/2018 29 BG Exploration & Production India Ltd. expenditure allowable only

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, DEHRADUN

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

section 44C with respect to the returned income and not income assessed. Ground No. 17: Disallowance of inventory written off 17.1 The learned AO erred in law and in facts in disallowing inventory written off of Rs.1,54,16,938 on the basis that the Appellant submitted only internal documents which do not suffice for allowance of expenditure

THE BANK OF TOKYO MISTUBISHI UFJ LTD.,,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri N.K. Saini & Before Mr. Bhavnesh Saini

44C of the Act. 4. Excess levy of interest under section 234D of the Act That on the facts and circumstance of the case and in law, the Ld. AO has erred in levying excess interest under section 234D of the Act. 5. Set off of brought forward business loss and unabsorbed depreciation

DDIT, NEW DELHI vs. M/S. MSV INTERNATIONAL INC., GURGAON

In the result appeal of the revenue for both the years are dismissed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiddit, Msv International Inc., Circle-3(2), International D-7, South City-I, Taxation, New Delhi Vs. Gurgaon Pan:Aadcm1304M (Appellant) (Respondent) Ddit, Msv International Inc., Circle-3(2), Room No.411, D-7, South City-I, Vs. International Taxation, Drum Gurgaon Shaped Building, Pan:Aadcm1304M New Delhi (Appellant) (Respondent)

44C, in the case of an assessee, being a foreign company,-- (a) the deductions admissible under the said sections in computing the income by way of royalty or fees for technical services received from Government or an Indian concern in pursuance of an agreement made by the foreign company with Government or with the Indian concern before Page