ACIT, CIRCLE-26(1), NEW DELHI vs. VALUE FIRST DIGITAL MEDIA PVT. LTD.,, NEW DELHI

In the result, ITA No. 3143/Del/2019 [A

Bench: Shri Narender Kumar Choudhry & Dr. B.R.R. Kumar

Section 72A and thus effectively allowing benefit of brought forward losses and unabsorbed depreciation to the assessee company as well as to M/s Gingersoft Media Pvt. Ltd. (transferor company) as it retained brought forward losses and unabsorbed depreciation. 4. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in deleting the disallowance

VALUE FIRST DIGITAL MEDIA PVT. LTD.,,NEW DELHI vs. DCIT, CIRCLE-26(1), NEW DELHI

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

section 72A of the Income tax Act, 1961. During the year the Solutions Limited (Demerged Company) has been adjusted against ‘Income under the head Business and Profession’ and ‘Income under the head Other Sources’ of appellant Company (Resulting Company) to the extent of Rs 1,92,18,031 and Rs 1,48,81,461 respectively. The Assessing Officer disallowed

M/S VALUE FIRST DIGITAL MEDIA PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

section 72A of the Income tax Act, 1961. During the year the Solutions Limited (Demerged Company) has been adjusted against ‘Income under the head Business and Profession’ and ‘Income under the head Other Sources’ of appellant Company (Resulting Company) to the extent of Rs 1,92,18,031 and Rs 1,48,81,461 respectively. The Assessing Officer disallowed

THE BALLABGARH CO-OPERATIVE MILK PRODUCERS UNION LTD.,BALLABGARH vs. ACIT, FARIDABAD

In the result, appeal of Assessee allowed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

Disallowance of excess depreciation, since full depreciation on the applicable rates had been claimed in case of assets put to use for less than 180 days during the year. 3 ITA.No.437/Del./2014 The Ballabgarh Cooperative Milk Producers Union Ltd., Ballabgarh. 2.1. The Ld. CIT(A) while confirming the action of the Assessing Officer in not allowing carry forward

DCIT, CIRCLE 4(2), NEW DELHI vs. MS BHARTI TELEMEDIA LTD, NEW DELHI

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

Bench: Shri C.N. Prasad & Shri M. Balaganesh

disallowance of licence fee could not have been made. Re: Section 35ABB of the Act per se not applicable to the present case 16. The provision of section 35ABB of the Act reads as follows: "Expenditure for obtaining licence to operate telecommunication services. 35ABB. (1) In respect of any expenditure, being in the nature of capital expenditure, incurred for acquiring

DCIT, CIRCLE 4(2), NEW DELHI vs. M/S BHARTI TELEMEDIA LTD, NEW DELHI

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

Bench: Shri C.N. Prasad & Shri M. Balaganesh

disallowance of licence fee could not have been made. Re: Section 35ABB of the Act per se not applicable to the present case 16. The provision of section 35ABB of the Act reads as follows: "Expenditure for obtaining licence to operate telecommunication services. 35ABB. (1) In respect of any expenditure, being in the nature of capital expenditure, incurred for acquiring

BHARTI TELEMEDIA LIMITED,NEW DELHI vs. DCIT, CIRCLE-4(2), NEW DELHI

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

Bench: Shri C.N. Prasad & Shri M. Balaganesh

disallowance of licence fee could not have been made. Re: Section 35ABB of the Act per se not applicable to the present case 16. The provision of section 35ABB of the Act reads as follows: "Expenditure for obtaining licence to operate telecommunication services. 35ABB. (1) In respect of any expenditure, being in the nature of capital expenditure, incurred for acquiring

BHARTI TELEMEDIA LIMITED,NEW DELHI vs. DCIT, CIRCLE-4(2), NEW DELHI

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

Bench: Shri C.N. Prasad & Shri M. Balaganesh

disallowance of licence fee could not have been made. Re: Section 35ABB of the Act per se not applicable to the present case 16. The provision of section 35ABB of the Act reads as follows: "Expenditure for obtaining licence to operate telecommunication services. 35ABB. (1) In respect of any expenditure, being in the nature of capital expenditure, incurred for acquiring

JITF URBAN INFRASTRUCTURE SERVICES LTD,NEW DELHI vs. ACIT, CIRCLE-13(2), NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaita No.6632/Del/2018, A.Y. 2015-16 M/S. Jitf Urban Infrastructure Vs. Asst. Commissioner Of Income Services Limited Tax 28, Shivaji Marg, West Delhi, Circle 13(2), Central Revenue P.O: Ramesh Nagar Building Room No. 316A 3Rd Floor, New Delhi- 110015 Pan : Aaccj4785G I.P.Estate, New Delhi-110002

disallowed with following relevant findings :- “4.6 The appellant ahs stated that in view of the aforesaid provisions it is entitled to claim brought forward losses amounting to Rs. 27,48,65,602/- (to the extent they are relatable to the assessee company). It is, however, seen that this amount of loss was not claimed due to the error

DCIT, CIRCLE-13(2), NEW DELHI vs. JITF URBAN INFRASTRUCTURE SERVICES LTD, NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaita No.6632/Del/2018, A.Y. 2015-16 M/S. Jitf Urban Infrastructure Vs. Asst. Commissioner Of Income Services Limited Tax 28, Shivaji Marg, West Delhi, Circle 13(2), Central Revenue P.O: Ramesh Nagar Building Room No. 316A 3Rd Floor, New Delhi- 110015 Pan : Aaccj4785G I.P.Estate, New Delhi-110002

disallowed with following relevant findings :- “4.6 The appellant ahs stated that in view of the aforesaid provisions it is entitled to claim brought forward losses amounting to Rs. 27,48,65,602/- (to the extent they are relatable to the assessee company). It is, however, seen that this amount of loss was not claimed due to the error

ACIT, NEW DELHI vs. M/S. ADM AGRO INDUSTRIES DHARWAD PVT. LTD., NEW DELHI

In the result, the appeal of the revenue stands

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaassessment Year: 2009-10 Asstt. Commissioner Of Income Tax, Vs M/S Adm Agro Industries Circle 1(2), New Delhi. Dharwad Pvt. Ltd., (Previously Known As Tinna Agro Industries Ltd.), B-1, Khaitan House, Defence Colony, New Delhi-110065 (Appellant) (Respondent) Department By: Shri Sridhar Dora, Sr. Dr Assessee By: Shri Salil Kapoor, Advocate Ms Ananya Kapoor, Advocate Date Of Hearing: 15.11.2018 Date Of Pronouncement: 28.01.2019

Section 72A of the Income Tax Act, 1961 (hereinafter referred to as "the Act"). During the year under consideration, the assessee had set off accumulated losses amounting to Rs.1,04,77,404/- against its income. However, the Assessing Officer was of the view that the assessee had not satisfied the required conditions for the set off of accumulated losses

DCIT, CIRCLE-II(I) vs. I.F.C.I. LTD.,,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

72A only specified businesses – manufacturing or processing of goods, software, telecommunication services etc. are covered. It is noteworthy that service industry is also included in the definition. Eligible business under Section 80-IA includes infrastructure undertakings and undertaking in Section 80-IC is defined to include eco-tourism and call centres. Thus, the adoption Page

IFCI LTD. vs. ADDL. CIT, CIRCLE-11(1),,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

72A only specified businesses – manufacturing or processing of goods, software, telecommunication services etc. are covered. It is noteworthy that service industry is also included in the definition. Eligible business under Section 80-IA includes infrastructure undertakings and undertaking in Section 80-IC is defined to include eco-tourism and call centres. Thus, the adoption Page

DALMIA CEMENT (BHARAT) LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

72A,72AB and 72AA deal with the exceptions. In respect of carry forward of loss and set off in the cases of amalgamation or demerger etc. Sec.72A is attracted. In this section for the definition ITA Nos. 5416 & 5417/Del/2017 along with other cases Accumulated Loss, the loss under the Profits and Gains of Business or Profession(Not being a loss

DALMIA CEMENT (BHARAT) LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

72A,72AB and 72AA deal with the exceptions. In respect of carry forward of loss and set off in the cases of amalgamation or demerger etc. Sec.72A is attracted. In this section for the definition ITA Nos. 5416 & 5417/Del/2017 along with other cases Accumulated Loss, the loss under the Profits and Gains of Business or Profession(Not being a loss

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 4(2), DELHI, I.P.ESTATE vs. BUREAU VERITAS CONSUMER PRODUCTS SERVICES(INDIA) PVT. LTD., LAJPAT NAGAR

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

72A,72AB and 72AA deal with the exceptions. In respect of carry forward of loss and set off in the cases of amalgamation or demerger etc. Sec.72A is attracted. In this section for the definition ITA Nos. 5416 & 5417/Del/2017 along with other cases Accumulated Loss, the loss under the Profits and Gains of Business or Profession(Not being a loss

COMMISSIONER OF INCOME TAX (C)-I vs. MGF AUTOMOBILES LTD

72A(2)(b)(i) which requires the amalgamated company to hold continuously for a minimum period of five years from the date of amalgamation “at least three fourths of the book value of fixed assets of the amalgamating company acquired in a scheme of amalgamation.” 4. For AY 2004-05 returns were to be filed on or before 30th October

COMMISSIONER OF INCOME TAX (C)-I vs. MGF AUTOMOBILES LTD

72A(2)(b)(i) which requires the amalgamated company to hold continuously for a minimum period of five years from the date of amalgamation “at least three fourths of the book value of fixed assets of the amalgamating company acquired in a scheme of amalgamation.” 4. For AY 2004-05 returns were to be filed on or before 30th October