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

65. Reverting to the facts of the extant case, we find that the assessee determined the amount of net profit as per its Profit and Loss account - both for the purposes of section 115JB and also for placing in the annual general meeting - after claiming Depletion (depreciation

DCIT, NEW DELHI vs. M/S. PARAMOUNT COMMUNICATION PVT. LTD., NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

65,54,992/- and disallow depreciation on this amount. ITANo.1378 & 2288/Del/2017 9.3. Rejecting the various explanation given by the assessee, the learned CIT(a) directed the AO to disallow depreciation of Rs.1,56,34,104/- by observing as under:- “I have considered the submission of the appellant. 5.24. Section

PARAMOUNT COMMUNICATIONS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

65,54,992/- and disallow depreciation on this amount. ITANo.1378 & 2288/Del/2017 9.3. Rejecting the various explanation given by the assessee, the learned CIT(a) directed the AO to disallow depreciation of Rs.1,56,34,104/- by observing as under:- “I have considered the submission of the appellant. 5.24. Section

M/S. PARAMOUNT COMMUNICTIONS LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA No.767/Del/2014 is partly allowed,

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

65,54,992/- and disallow depreciation on this amount. ITANo.1378 & 2288/Del/2017 9.3. Rejecting the various explanation given by the assessee, the learned CIT(a) directed the AO to disallow depreciation of Rs.1,56,34,104/- by observing as under:- “I have considered the submission of the appellant. 5.24. Section

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

65,991 (98,16,554) Income from Capital Gain Short Term Capital Gain 14,452 Income from Other Sources 1,31,66,581 Total Income 33,64,479 Less : Unabsorbed Depreciation of A.Y. 2002-03 2,11,69,435 Unabsorbed Depreciation to be carried forward (1,78,04,956) In this computation following details of unabsorbed depreciation were given

DCIT, NEW DELHI vs. M/S. HERO HONDA MOTORS LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

depreciation. 4. That the CIT (A) erred on facts and in law in sustaining disallowance of portfolio management expenditure of Rs. 27,68,039 on the ground that the same related to investment activity of the appellant. 4.1 That the CIT (A) erred on facts and in law in not allowing the alternate claim of the appellant for deduction

M/S. HERO MOTOCORP LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

depreciation. 4. That the CIT (A) erred on facts and in law in sustaining disallowance of portfolio management expenditure of Rs. 27,68,039 on the ground that the same related to investment activity of the appellant. 4.1 That the CIT (A) erred on facts and in law in not allowing the alternate claim of the appellant for deduction

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:

65. The next issue vide Ground No. 4 relates to the direction of the DRP to delete the disallowance proposed by the AO on account of depreciation on goodwill. 66. The facts related to this issue in brief are that however, the assessee entered into an Asset Purchase Agreement with American Express India P. Ltd. to acquire the Global Travel

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:

65. The next issue vide Ground No. 4 relates to the direction of the DRP to delete the disallowance proposed by the AO on account of depreciation on goodwill. 66. The facts related to this issue in brief are that however, the assessee entered into an Asset Purchase Agreement with American Express India P. Ltd. to acquire the Global Travel

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

M/S LANDBASE INDIA LTD.,,GURGAON vs. ACIT, 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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

LANDBASE INDIA LTD.,NEW DELHI 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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

ACIT, NEW DELHI vs. M/S. LANDBASE INDIA LTD., 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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

LANDBASE INDIA LTD.,NEW DELHI 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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

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 5 of the income tax act in case of either business income or u/s 28. Hence, according to us, the membership fee income of the assessee should be chargeable to tax in the year to which it pertains. Therefore, we reverse the finding of the learned CIT – A in holding that that a sum of INR 3 5288416 received

CAIRN ENERGY HYDROCARBONS LTD.,GURGAON vs. DDIT, NEW DELHI

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

depreciation in this case even without its claim by the assessee. The appeal of the assessee on this ground is dismissed. ITA No. 6357/Del/2013: A.Y. 2010-11 (Revenue Appeal) ITA No. 5988/Del/2018: A.Y. 2013-14 (Revenue Appeal) ITA No. 5989/Del/2018: A.Y. 2014-15 (Revenue Appeal) Ground No.1 Exploration & Development Expenditure u/s 40(i)(ia): 36. For the year under consideration

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

depreciation in this case even without its claim by the assessee. The appeal of the assessee on this ground is dismissed. ITA No. 6357/Del/2013: A.Y. 2010-11 (Revenue Appeal) ITA No. 5988/Del/2018: A.Y. 2013-14 (Revenue Appeal) ITA No. 5989/Del/2018: A.Y. 2014-15 (Revenue Appeal) Ground No.1 Exploration & Development Expenditure u/s 40(i)(ia): 36. For the year under consideration

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

depreciation in this case even without its claim by the assessee. The appeal of the assessee on this ground is dismissed. ITA No. 6357/Del/2013: A.Y. 2010-11 (Revenue Appeal) ITA No. 5988/Del/2018: A.Y. 2013-14 (Revenue Appeal) ITA No. 5989/Del/2018: A.Y. 2014-15 (Revenue Appeal) Ground No.1 Exploration & Development Expenditure u/s 40(i)(ia): 36. For the year under consideration