DCIT, CIRCLE-24(2), NEW DELHI vs. STERLING AGRO INDS. LTD, NEW DELHI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Shamim Yahya & Shri C.M. Gargassessment Year: 2016-17 Dcit, Vs. Sterling Agro Inds. Ltd., 11Th Floor, Circle-24(2), New Delhi. Agarwal Cyber Plaza-Ii, Netaji Subhash Place, New Delhi. Pan: Aaacs2278R (Appellant) (Respondent) Assessee By : Shri Amit Sharma, Advocate Revenue By : Shri Sanjay Kumar, Cit-Dr Date Of Hearing : 05.07.2022 Date Of Pronouncement : 22.07.2022 Order Per C.M. Garg, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld.Cit(A)-8, New Delhi, Dated 27.11.2019, Relating To Assessment Year 2016.- 17. 2. The Sole Ground Of Appeal Raised By The Revenue In This Appeal Reads As Follows:- “1. Whether On The Facts & Circumstances Of The Case & In Law, The Ld.Cit(A) Erred In Deleting The Addition Made By The Ao On Account Of Disallowance Of Deduction U/S 80Ia Of The Income-Tax Act, 1961 Amounting To Rs.12,63,07,697/-.”

depreciation u/s 80IA of the Act to the assessee. 4. Replying to the above, the ld. Counsel of the assessee, supporting the first appellate order, submitted that the ld.CIT(A), after considering all the relevant facts and circumstances of the issue, the stand taken by the AO and under the provisions of section 80IA of the Act, rightly held that

IFCI LTD. vs. ADDL. CIT, CIRCLE-11(1),,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

section 139(5). Return filed u/s 139 (3) if in accordance with the other provisions of the filing of the loss return for the provisions of the act shall apply to that return as if it were return under subsection (1) of the act. The learned Commissioner of income tax Appeals by considering the above claim of the assessee

DCIT, CIRCLE-II(I) vs. I.F.C.I. LTD.,,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

section 139(5). Return filed u/s 139 (3) if in accordance with the other provisions of the filing of the loss return for the provisions of the act shall apply to that return as if it were return under subsection (1) of the act. The learned Commissioner of income tax Appeals by considering the above claim of the assessee

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

5 operates only for the purposes of section 32(1)(ii) and not section 32(1)(iia) of the Act. 23. In order to appreciate the contention, it will be significant to note the prescription of the relevant parts of section 32 as under : - “Depreciation

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation against other income. In AY 2008-09, the assessee earned profits from the windmill and claimed deduction under Section 80-IA. The AO & CIT (A) relied on the Special Bench decision in ACIT vs. Gold Mines Shares & Finance 116 TTJ (Ahd) (SB) 705 and held that in view of Section 80IA(5

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation against other income. In AY 2008-09, the assessee earned profits from the windmill and claimed deduction under Section 80-IA. The AO & CIT (A) relied on the Special Bench decision in ACIT vs. Gold Mines Shares & Finance 116 TTJ (Ahd) (SB) 705 and held that in view of Section 80IA(5

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation against other income. In AY 2008-09, the assessee earned profits from the windmill and claimed deduction under Section 80-IA. The AO & CIT (A) relied on the Special Bench decision in ACIT vs. Gold Mines Shares & Finance 116 TTJ (Ahd) (SB) 705 and held that in view of Section 80IA(5

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation against other income. In AY 2008-09, the assessee earned profits from the windmill and claimed deduction under Section 80-IA. The AO & CIT (A) relied on the Special Bench decision in ACIT vs. Gold Mines Shares & Finance 116 TTJ (Ahd) (SB) 705 and held that in view of Section 80IA(5

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation against other income. In AY 2008-09, the assessee earned profits from the windmill and claimed deduction under Section 80-IA. The AO & CIT (A) relied on the Special Bench decision in ACIT vs. Gold Mines Shares & Finance 116 TTJ (Ahd) (SB) 705 and held that in view of Section 80IA(5

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation against other income. In AY 2008-09, the assessee earned profits from the windmill and claimed deduction under Section 80-IA. The AO & CIT (A) relied on the Special Bench decision in ACIT vs. Gold Mines Shares & Finance 116 TTJ (Ahd) (SB) 705 and held that in view of Section 80IA(5

FRESENIUS KABI ONCOLOGY LTD,NEW DELHI vs. ITO, WARD-9(3), NEW DELHI

In the result appeal of the assessee is allowed

Bench: Shri Prakash Chand Yadav & Shri Manish Agarwalfresenius Kabi Oncology Ltd. Income Tax Officer, B-310, Som Dutt Chamber, Ward-9(3), Bhikaji Cama Place, Vs. New Delhi. New Delhi-110066. Pan-Aabcd7720L (Appellant) (Respondent)

5. That the DRP erred on facts and in law in enhancing the income of the Appellant by disallowing expenses amounting to Rs. 16,48,00,000 charged to the profit & loss account by the assessee on account of exceptional scrapping of inventory. 5.1 That the DRP erred on facts and in law in failing to appreciate that the expense

MAHANAGAR TELEPHONE NIGAM LTD.,NEW DELHI vs. DCIT LTU, NEW DELHI

In the result the appeal of the assessee is partly allowed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishimahanagar Telephone Nigam Ltd, Dcit Ltu, 9, Cgo Complex, Lodhi Road, New Delhi Vs. New Delhi Pan:Aaacm.828R (Appellant) (Respondent) Dcit Ltu, Mahanagar Telephone Nigam Ltd, New Delhi 9, Cgo Complex, Lodhi Road, Vs. New Delhi Pan:Aaacm.828R (Appellant) (Respondent)

5), profits from eligible business for purpose of determination of quantum of deduction under section 80IA are to be computed after deduction of notional brought forward losses and depreciation

DCIT CENTRAL CIRCLE-17, NEW DELHI vs. AL AMMAR FROZEN FOODS EXPORTS PVT. LTD, NEW DELHI

In the result, appeal of the Revenue is dismissed and cross\nobjection filed by the assessee is dismissed as infructuous

Section 139(5) of the Act on 29.09.2020.\nHowever, due to a software error while generating the XML, the\nbrought forward business losses and unabsorbed depreciation

PRAGATI POWER CORPORATION LTD.,NEW DELHI vs. ACIT, CIRCLE-20(1), NEW DELHI

In the result the Miscellaneous Application of the assessee is\nallowed

5. We have heard rival submissions and perused the relevant material on\nrecord. The assessee is a company of Government of National Capital Territory\nof Delhi. The assessee has been operating two separate undertakings termed\nas project GT-1 at Raj Ghat and another undertaking engaged in the business\nof generation and distribution of power located at Bawana

BSC C&C JV,NEW DELHI vs. ACIT CIRCLE-62(1), NEW DELHI

In the result, the appeal of the assessee is dismissed

Bench: Shri C. N. Prasad & Shri M. Balaganeshm/S. Bsc C&C Joint Venture, Vs. Acit, 74, Hemkunt Colony, Circle-62(1), New Delhi-110048 New Delhi (Appellant) (Respondent) Pan: Aadfb8115G Assessee By : Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Revenue By: Shri Jitender Singh, Cit Dr Date Of Hearing 05/06/2025 Date Of Pronouncement 20/08/2025

section 80A(5) is to M/s. BSC C&C Joint Venture make a claim, which is a substantive provision. Hence the same is to be construed as mandatory provision in order to entertain a claim of deduction in respect of certain incomes such as deduction u/s 80IA as is the case in the appeal before us. This view of ours

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

Appeals are dismissed in favour of the assessee and

5 of 31 compendiously termed as “goodwill” and therefore entitled to depreciation under Section 32(1)(ii) of the Act. (x) The CIT(A) repelled

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)

5 sets out the acceptable forms and modes of investment for the purposes of proper application. Sub-section 6, inserted by Finance II Act, 2014 with effect from 1.4.2015, states that the income to be determined for the purposes of application or accumulation shall not include a deduction or allowance by way of depreciation

L.S CABLE INDIA PVT LTD ,REWARI vs. DCIT, CIRCLE13(1), NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri Anubhav Sharma & Shri Manish Agarwal[Assessment Year : 2018-19] L S Cable India Pvt.Ltd., Vs Dcit, Plot No.28-31, Sector-5, Cirlce-13(1), Phase-Ii, Hsiidc Gc Bawal, New Delhi Rewari, Haryana-23501. Pan-Aabcl3621Q Appellant Respondent Appellant By Shri Gaurav Garg, Ca Respondent By Shri S.K.Jhadav, Cit Dr Date Of Hearing 01.04.2025 Date Of Pronouncement 29.05.2025

5. That the Ld. AO/TPO/DRP has erred in the facts and in circumstances of the case and in law, in not allowing the Depreciation/capacity adjustment carried out by Appellant for improving comparability analysis based on his own conjectures and summaries even though the same is allowed under the Income tax Act. 6. That the Ld. AO/TPO/DRP has erred