DCIT, NEW DELHI vs. M/S. JAYPEE CAPITAL SERVICES LTD., NEW DELHI

In the result, ITA.No.3559/Del

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

2)(viia), was prescribed by notification no. 23/10 dated 8.4.2010, came into effect from 1.10.2009, same is as under : "11UA. For the purposes of section 56 of the Act, the fair market value of a property, other than immovable property, shall be determined in the following manner, namely - (c) valuation of shares and securities, (a) the fair market value

DCIT, NEW DELHI vs. M/S. JAYPEE CAPITAL SERVICES LTD., NEW DELHI

In the result, ITA.No.3559/Del

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

2)(viia), was prescribed by notification no. 23/10 dated 8.4.2010, came into effect from 1.10.2009, same is as under : "11UA. For the purposes of section 56 of the Act, the fair market value of a property, other than immovable property, shall be determined in the following manner, namely - (c) valuation of shares and securities, (a) the fair market value

RAJ SHEELA GROWTH FUND (P) LTD.,NEW DELHI vs. ITO, WARD- 21(1), NEW DELHI

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

Bench: Shri Amit Shukla & Shri L. P. Sahu

viia) is not be attracted, because the statute has clearly provided that this section would be invoked only when difference between the purchase consideration of Fair Market Value of a share of a company is more than Rs.50,000/-. Thus, provisions would be applicable share-wise qua the same company. Besides this, reasoning given

STRYTON EXIM INDIA P.LTD,NEW DELHI vs. ITO, WARD-24(2), NEW DELHI

In the result appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Kuldip Singh & Shri Prashant Maharishisa No. 665/Del/2018 (In Ita No. 5982/Del/2018) (Assessment Year: 2014-15) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent)

depreciation; iv. any amount representing provision for taxation, other that amount of TDS or TCS or as advance tax payment. The quantum of TDS or TCS or advance tax needs to be reduced by the amount of tax claimed as refund under the IT A; v. any amount representing provisions made for meeting liabilities, other than ascertained liabilities

THINKSTATIONS LEARNING PRIVATE LIMITED,NEW DELHI vs. ACIT CIRCLE-8(1), NEW DELHI

In the result, both the appeals of the assessee are allowed

Bench: Shri Narendra Kumar Billaiya & Shri Challa Nagendra Prasad

section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely:- a) the fair market value of unquoted equity shares = (A-L) _x (PV), (PE) A = book value of the assets in the balance-sheet as reduced

THINKSTATIONS LEARNING PRIVATE LIMITED,NEW DELHI vs. ACIT CIRCLE-25(1), NEW DELHI

In the result, both the appeals of the assessee are allowed

Bench: Shri Narendra Kumar Billaiya & Shri Challa Nagendra Prasad

section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely:- a) the fair market value of unquoted equity shares = (A-L) _x (PV), (PE) A = book value of the assets in the balance-sheet as reduced

CAIRN UK HOLDING LTD.,AHMEDABAD vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

In the result ground No. 5 of the appeal of the assessee is allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

Depreciation 2393 3 749 3145 Cairn U K Holdings Limited V DCIT ( International Taxation) New Delhi A Y 2007-08 P a g e | 34 Amortization 2242 -- 1620 3862 The segment assets and liabilities as at 31 December 2006 and capital expenditure for the year then ended are follows: Cairn India Capricorn Other Group 2006 Limited Energy Group Limited Group

ANALJIT SINGH,DELHI vs. DCIT, CIRCLE- 16(2), DELHI

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

Bench: Shri Amit Shukla & Shri O.P.Kant

2 of Consolidated FDI Policy (effective from April 5, 2013), which was applicable during the period in question, price of shares of an unlisted Indian company, transferred by resident to a non-resident, shall not be less than fair value determined by a SEBI registered Category I Merchant Banker or Chartered Accountant as per the discounted free cash

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, CIRCLE- 19(1), NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ACIT, CIRCLE- 19(1), NEW DELHI vs. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

ORIENTAL BANK OF COMMERCE,GURGAON vs. ADDL. CIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

56,78,375/-. Accordingly, claim u/s 36(1)(vii) up to the amount of deduction allowable u/s 36(1)(viia) was disallowed and the balance amount of bad debt written off in respect of the amount of deduction allowable u/s 36(1)(viia) amounting to Rs. 207,09,87,602/- (Rs.695,21,49,387 plus Rs.27,46,115 minus Rs.488

THE PR. COMMISSIONER OF INCOME TAX -CENTRAL -1 vs. AAMBY VALLEY LTD.

Bench: HON'BLE MR. JUSTICE RAVINDER DUDEJA,HON'BLE MR. JUSTICE YASHWANT VARMA

56(2)(viia) of the Act. 5. Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT has erred in holding that amendments made to provisions of Section 47(vii) vide Finance Act 2012 being clarificatory in nature and, therefore, have a retrospective application. 6. Whether in the given facts and circumstances

DLF LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

Depreciation on 192 194 9,14,277 – V Constructed Building Revenue recognition on Saket 194 198 13,24,00,000 Court Yard 15. TOR – 13 Revenue recognition on the 198 320 222,56,87,056 Volume – VIIA – basis of POCM Working for 8 VIID projects Page 4 of 144 16. TOR – 15 & 20 Reclassification of Income

ACIT, NEW DELHI vs. M/S DLF LTD., NEW DELHI

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

Depreciation on 192 194 9,14,277 – V Constructed Building Revenue recognition on Saket 194 198 13,24,00,000 Court Yard 15. TOR – 13 Revenue recognition on the 198 320 222,56,87,056 Volume – VIIA – basis of POCM Working for 8 VIID projects Page 4 of 144 16. TOR – 15 & 20 Reclassification of Income