TECHNOLOGIES LTD) vs. ACIT

Appeals are allowed

43,88,624/- was claimed under Section 10B of the Income Tax Act, 1961 [in short “Act”]. 3.1. The assessment concerning the appellant/assessee was framed under Section 143(3) of the Act. An order to that effect was passed on 30.12.2010, wherein the appellant/assessee‟s taxable income was assessed at Rs. 36,28,88,570/-. The assessing officer [in short

TECHNOLOGIES LTD) vs. ACIT

Appeals are allowed

43,88,624/- was claimed under Section 10B of the Income Tax Act, 1961 [in short “Act”]. 3.1. The assessment concerning the appellant/assessee was framed under Section 143(3) of the Act. An order to that effect was passed on 30.12.2010, wherein the appellant/assessee‟s taxable income was assessed at Rs. 36,28,88,570/-. The assessing officer [in short

COMMISSIONER OF INCOME TAX vs. INDIA PVT. LTD.

The appeal is dismissed

Section 43 A with effect fro 1.4.2003 is prospective. There is no scope for entertaining the Revenue’s plea to the contrary. 47. In view of the above discussion, the substantial question of law that arises in these appeals is answered in affirmative by holding that the increase in liability due to foreign exchange fluctuation as per the exchange rate

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

disallowing depreciation, which is common to all the appeals in hand, it can be observed from the orders of the tax authorities below that the ld AO has reached the conclusion within the scope of provision of section 47 clause (iv), section 43(1) r/w explanation 6

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

disallowing depreciation, which is common to all the appeals in hand, it can be observed from the orders of the tax authorities below that the ld AO has reached the conclusion within the scope of provision of section 47 clause (iv), section 43(1) r/w explanation 6

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

disallowing depreciation, which is common to all the appeals in hand, it can be observed from the orders of the tax authorities below that the ld AO has reached the conclusion within the scope of provision of section 47 clause (iv), section 43(1) r/w explanation 6

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

disallowing depreciation, which is common to all the appeals in hand, it can be observed from the orders of the tax authorities below that the ld AO has reached the conclusion within the scope of provision of section 47 clause (iv), section 43(1) r/w explanation 6

DCIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE COMTRADE LTD., NEW DELHI

The appeal of the Revenue is dismissed

Bench: Smt. Annapurna Gupta & Ms Madhumita Royassessment Year: 2012-13 Dcit, Vs M/S Religare Comtrade Ltd Circle-21(1), (Formerly Known As Religare New Delhi. Bullion Ltd.), D-3, District Centre, Saket, New Delhi – 110 017. Pan: Aaecr8405P (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate & Ms Somya Jain, Ca Revenue By : Shri Sunil Yadav, Cit-Dr Date Of Hearing : 03.04.2025 Date Of Pronouncement : 16.05.2025 Order Per Annapurna Gupta, Am: The Present Appeal Has Been Filed By The Department Against Order Passed By The Commissioner Of Income Tax (Appeals)-36, New Delhi (Hereinafter Referred To As Cit(A)) Under Section 250 (6) Of The Income Tax Act 1961(Hereinafter Referred To As “Act”) Pertaining To Assessment Year 2012-13. 2. Grounds No.1 & 2 Raised By The Revenue Relate To The Same Issue Of Loss Incurred On Account Of Trading In Gold Derivatives Which Was Disallowed By The Ao Treating It As Speculative In Nature, In Terms Of Its Definition U/S 43(5) Of The Act, Which, However, Was Allowed By The Ld.Cit(A). The Said Grounds Read As Under:-

section 43(5) of the Act . 6. The case of the AO for rejecting assesses claim is that the exception in 43(5)(a) of the Act excludes only hedging transactions entered into with the purpose of safeguarding loss through future price fluctuation in respect of contract of actual sale (emphasis provided by us). That, if the purpose of hedging

STEEL AUTHORITY OF INDIA LTD vs. COMISSIONER OF INCOME TAX

The appeals are dismissed with no costs

disallowance of the claim of depreciation having been confirmed by the CIT(Appeals), the assessee filed further appeals to the Tribunal. The Tribunal considered the matter elaborately and upheld the orders of the departmental authorities and hence, the present appeals. 5. On 26.08.2011, the appeals were admitted and the following substantial questions of law were framed : “(i) Whether

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. QUIPPO OIL AND GAS INFRASTRUCTURE LTD., NEW DELHI

In the result, the ground no

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar U.S.

43,600/-. The assessment order came to be passed on 15/03/2016 by disallowing the depreciation of Rs.3,01,78,780/- on oil drilling rigs, unpaid provisions of leave encashment of Rs. 4,32,147/-, the mobilization of expenses u/s 40(a)(ia) of the 3 Quippo Oil & Gas Infrastructire Act of Rs. 4,77,50,400/- and further disallowed

VINAY PRAKASH (HUF),NEW DELHI vs. ACIT, CIRCLE-42(1), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia

6 hereunder: In a case where a loss on a forex-derivative transaction arises on actual settlement / conclusion of contract and is not a notional or marked to market book entry, a further question will arise as to whether such a loss is on account of a speculative transaction as contemplated in Section 43(5) of the Income

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

6. Before we delve deeper into the questions at hand it would be appropriate to not only examine the provisions of section 14A of the said act but also to notice its legislative history. Section 14A was inserted into the said Act by the Finance Act, 2001 with retrospective effect from 01/04/1962. “Expenditure incurred in relation to income not includible

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

6. Before we delve deeper into the questions at hand it would be appropriate to not only examine the provisions of section 14A of the said act but also to notice its legislative history. Section 14A was inserted into the said Act by the Finance Act, 2001 with retrospective effect from 01/04/1962. “Expenditure incurred in relation to income not includible

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

6. Before we delve deeper into the questions at hand it would be appropriate to not only examine the provisions of section 14A of the said act but also to notice its legislative history. Section 14A was inserted into the said Act by the Finance Act, 2001 with retrospective effect from 01/04/1962. “Expenditure incurred in relation to income not includible

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

6. Before we delve deeper into the questions at hand it would be appropriate to not only examine the provisions of section 14A of the said act but also to notice its legislative history. Section 14A was inserted into the said Act by the Finance Act, 2001 with retrospective effect from 01/04/1962. “Expenditure incurred in relation to income not includible

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

6. Before we delve deeper into the questions at hand it would be appropriate to not only examine the provisions of section 14A of the said act but also to notice its legislative history. Section 14A was inserted into the said Act by the Finance Act, 2001 with retrospective effect from 01/04/1962. “Expenditure incurred in relation to income not includible

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

6. Before we delve deeper into the questions at hand it would be appropriate to not only examine the provisions of section 14A of the said act but also to notice its legislative history. Section 14A was inserted into the said Act by the Finance Act, 2001 with retrospective effect from 01/04/1962. “Expenditure incurred in relation to income not includible

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

6. Before we delve deeper into the questions at hand it would be appropriate to not only examine the provisions of section 14A of the said act but also to notice its legislative history. Section 14A was inserted into the said Act by the Finance Act, 2001 with retrospective effect from 01/04/1962. “Expenditure incurred in relation to income not includible