COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

depreciable assets. The AO had not accepted this contention and held that Section 50 was applicable and he, therefore, computed short term capital gain at `36.89 Crores on the sale of the said division, which is as under: “COMPUTATION OF SHORT TERM CAPITAL GAIN OF SALE OF LAMP DIVSIION AS PER SECTION 50[2] Sale consideration received on transfer

Commissioner of Income Tax vs. ECE Industries Limited

depreciable assets. The AO had not accepted this contention and held that Section 50 was applicable and he, therefore, computed short term capital gain at `36.89 Crores on the sale of the said division, which is as under: “COMPUTATION OF SHORT TERM CAPITAL GAIN OF SALE OF LAMP DIVSIION AS PER SECTION 50[2] Sale consideration received on transfer

M/S. HIMGIRI METALS (P) LTD.,NEW DELHI vs. JCIT, UTTAR PRADESH

In the result the appeal is allowed

Bench: Shri Vijay Pal Raohimgiri Metals (P) Ltd, Jcit, C/O.Rra Taxindia, Range-1, Vs. D-28, South Extension, Muzzafarnagar, New Delhi Uttar Pradesh Pan:Aaach7613P (Appellant) (Respondent)

depreciation pertaining to A.Y.97-98 of Rs.43,60,22,158/- was allowed to be set off against the income of the A.Y. 2006-07. As per provision of Section 32(2) of the I.T. Act as amended by the Finance Act No.2, 1996 w.e.f. A.Y. 97

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:

97,89,365/- and depreciation amounting to Rs.9,62,23,671/- was claimed. The AO during the course of assessment proceedings observed that the assessee has not been able to establish that it has acquired any goodwill and the specific amount was paid for the same. He further observed that the tangible assets were transferred by physically handing over

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:

97,89,365/- and depreciation amounting to Rs.9,62,23,671/- was claimed. The AO during the course of assessment proceedings observed that the assessee has not been able to establish that it has acquired any goodwill and the specific amount was paid for the same. He further observed that the tangible assets were transferred by physically handing over

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

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

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

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

DDIT, NEW DELHI vs. SH. ATUL MEHTA, NEW DELHI

Appeal is dismissed

Bench: Shri I. C. Sudhir & Shri L. P. Sahu

97,406/- [Rs.68,53,289/- - Rs.1,55,883/-]. The Assessing Officer was of the view that assessee is not entitled for the depreciation and other expenses claimed by him under section

COMMISSIONER OF INCOME TAX-IV vs. M/S. I. K. INTERNATIONAL PVT. LTD

Section. He then proceeded to compute the short term capital gains. He first adopted the Written Down Value (WDV) of the assets included in the block of assets and having ascertained the same as per the depreciation chart which was part of the assessment record, he computed the WDV of the assets sold as under: - “Total

HEWITT ASSOCIATES (INDIA) PVT. LTD.,GURGAON vs. ACIT, NEW DELHI

In the result, the appeal of the assesee is treated as allowed for statistical purposes

Bench: Shri R.K. Panda & Ms. Astha Chandraasstt. Year : 2007-08

97,27,864/- as per the provisions of section 32(2) of the Act read with section 72 of the Act. The Ld. AO has thus restricted the set off of brought forward losses and unabsorbed depreciation

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

depreciation under section 32(l)(iia) of the Act and recomputed the deprecation of Rs 350,49,97,998 after

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 under section 32(l)(iia) of the Act and recomputed the deprecation of Rs 350,49,97,998 after

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

depreciation under section 32(l)(iia) of the Act and recomputed the deprecation of Rs 350,49,97,998 after

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

depreciation under section 32(l)(iia) of the Act and recomputed the deprecation of Rs 350,49,97,998 after