RISHABH BUILDWELL P.LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

5A to Section 271(1)(c) of the Act and 271AAB of the Act have to be interpreted strictly. Unless, there is an actual concealment or non-discloser of the particular of the income the penalty cannot be imposed. Further, when the revised income is accepted and the income is assessed as per the revised income there is no scope

SANJEEV JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

5A to Section 271(1)(c) of the Act and 271AAB of the Act have to be interpreted strictly. Unless, there is an actual concealment or non-discloser of the particular of the income the penalty cannot be imposed. Further, when the revised income is accepted and the income is assessed as per the revised income there is no scope

RISHABH BUILDWELL P.LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

5A to Section 271(1)(c) of the Act and 271AAB of the Act have to be interpreted strictly. Unless, there is an actual concealment or non-discloser of the particular of the income the penalty cannot be imposed. Further, when the revised income is accepted and the income is assessed as per the revised income there is no scope

SANJEEV JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

5A to Section 271(1)(c) of the Act and 271AAB of the Act have to be interpreted strictly. Unless, there is an actual concealment or non-discloser of the particular of the income the penalty cannot be imposed. Further, when the revised income is accepted and the income is assessed as per the revised income there is no scope

SANJEEV JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

5A to Section 271(1)(c) of the Act and 271AAB of the Act have to be interpreted strictly. Unless, there is an actual concealment or non-discloser of the particular of the income the penalty cannot be imposed. Further, when the revised income is accepted and the income is assessed as per the revised income there is no scope

ACIT,CIRCLE-19(1), NEW DELHI vs. ONGC VIDESH LIMITED, NEW DELHI

Bench: Sh. N.K.Billaiya & Sh. Anubhav Sharmaacit, Vs. Ongc Videsh Limited Circle-19(1), Tower-B5, Nelson Mandela New Delhi Marg, Vasant Kinj, New Delhi Pan : Aaaco1230F (Appellant) (Respondent)

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

ADDL. CIT, SPECIAL RANGE-7, NEW DELHI vs. ONGC VIDESH LTD., NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. ONGC VIDESH LTD., NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

ADDL. CIT, NEW DELHI vs. M/S ONGC VIDESH LTD.,, NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

DCIT, NEW DELHI vs. M/S. ONGC VIDESH LTD., NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

DCIT, NEW DELHI vs. M/S. ONGC VIDESH LTD., NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

DCIT, NEW DELHI vs. M/S. ONGC VIDESH LTD., NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

ADDL. CIT,SPL RNAGE-7, NEW DELHI vs. ONGC VIDESH LTD., NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

ADDL. CIT, SPECIAL RANGE-7, NEW DELHI vs. ONGC VIDESH LTD., NEW DELHI

In the result, the appeals of the Revenue stand dismissed

5A & 5B Projects, Ivory Coast Project, 81-1 Libya Project, Egypt, Qatar, Block 127 & 128 Vietnam Project and Cuba Project. As per the return of income filed, the assessee company has claimed depreciation on acquisition cost of participating interests @25% holding them as intangible assets and the total depreciation claim was to the extent of Rs.174,52,34,343/-. Claim

GREEN INFRA WIND FARM ASSET LTD.,GURUGRAM vs. ACIT, CIRCLE 10(2), NEW DELHI

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

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2016-17] Green Infra Wind Farm Asset Ltd., Vs Acit, 5Th Floor, Tower C, Building No.8, Circle-10(2), Dlf Cyber City, Gurugram, New Delhi. Haryana-122002. Pan-Aaecg4080H Appellant Respondent Appellant By Shri Vartik Chokshi, Ca & Shri Biren Shah, Ca Respondent By Shri Rajesh Kumar Dhanesta, Sr.Dr Date Of Hearing 23.04.2025 Date Of Pronouncement 04.07.2025 Order

depreciation is nil; or (iv)to (vi) [***] (vii)the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 17 of the Sick Industrial Companies (Special Provisions

LNG SECURITIES SERVICES PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: : Shri C.M. Garg & Shri L.P. Sahu

depreciation is nil; or (iv) to (vi) [***] 12 ITA No.3708/Del./2013 (vii) the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 17 of the Sick Industrial Companies (Special

LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Appeal is dismissed

depreciation on 'goodwill' is allowable under the said section” in favour of the Assessee. 11. The Supreme Court had further held as under:- “We quote hereinbelow Explanation 3 to section 32(1) of the Act: "Explanation 3.—For the purposes of this sub-section, the expressions 'assets' and 'block of assets' shall mean— (a) tangible assets, being buildings, machinery, plant

LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Appeal is dismissed

depreciation on 'goodwill' is allowable under the said section” in favour of the Assessee. 11. The Supreme Court had further held as under:- “We quote hereinbelow Explanation 3 to section 32(1) of the Act: "Explanation 3.—For the purposes of this sub-section, the expressions 'assets' and 'block of assets' shall mean— (a) tangible assets, being buildings, machinery, plant