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

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

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

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

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

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

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

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

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

house property. D.- Profits and gains of business or profession. E.- Capital gains. F.- Income from other sources. A.- Salaries.” 22. Further, Section 56 of the Income Tax Act reads as under: “Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from

CIT vs. TEI TECHNOLOGIES PVT LTD

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

32A, 33, 35, 36(1)(ix), 72, 74, etc. Therefore, we submit that the computation of the amount of exemption u/s 10A should be strictly in respect of export profits of eligible undertaking. In this regard, it is submitted that the AO had reached at the figures of gross total income before computing the amount of exemption under section

CIT vs. TEI TECHNOLOGIES PVT LTD

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

32A, 33, 35, 36(1)(ix), 72, 74, etc. Therefore, we submit that the computation of the amount of exemption u/s 10A should be strictly in respect of export profits of eligible undertaking. In this regard, it is submitted that the AO had reached at the figures of gross total income before computing the amount of exemption under section

KAVITA AGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 19, NEW DELHI

house property", "Capital gains" or "Income from other sources", or in section 199 or in sections 28 to 43B, the profits and gains of any business of insurance, including any such business carried on by a mutual insurance company or by a co-operative society, shall be computed in accordance with the rules contained in the First Schedule." 11.1 First

M/S THE ORIENTAL INSURANCE CO. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

house property", "Capital gains" or "Income from other sources", or in section 199 or in sections 28 to 43B, the profits and gains of any business of insurance, including any such business carried on by a mutual insurance company or by a co-operative society, shall be computed in accordance with the rules contained in the First Schedule." 11.1 First

GE MONEY FINANCIAL SERVICES PVT. LTD.,DELHI vs. DCIT, NEW DELHI

In the result ground, no

Bench: Shri A.T.Varkey & Shri Prashant Maharishi

32A(2) and Section 33 of the Act, dealing with Investment Allowance and Development Rebate respectively, held thus: - "9. Sub-section (2) of Section 32-A, however, requires to be examined to see whether there is any provision in that sub-section which requires that the assessee should not merely use the machinery for the purposes of his business

GE MONEY FINANCIAL SERVICES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result ground, no

Bench: Shri A.T.Varkey & Shri Prashant Maharishi

32A(2) and Section 33 of the Act, dealing with Investment Allowance and Development Rebate respectively, held thus: - "9. Sub-section (2) of Section 32-A, however, requires to be examined to see whether there is any provision in that sub-section which requires that the assessee should not merely use the machinery for the purposes of his business

BRACE IRON & STEEL P.LTD,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE-2,, NEW DELHI

In the result, appeal of Assessee is allowed

Bench: Shri R.K. Panda & Ms. Suchitra Kamble

property in the equipment to the assessee ? (b) Was the equipment identified / ascertained with reasonable clarity ? (c) Was the equipment valued, and if so, whether it was a bona fide valuation ? Was the value inflated? How credible is the report of the valuer, if there is one. (d) What are the terms of the lease ? Is the document more

SURYA MERCHANTS LTD.,NEW DELHI vs. CIT, KANPUR

In the result, all the five Appeals filed by the Assessee stand

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

Housing and Finance Ltd. (2009) 320 ITR 157 (MP HC) 6.7 Lastly, Ld. AR of the assessee stated that Show cause notice u/s 263 of the Act dated 14.03.2014 was received by the Assessee only at 5 PM on Friday, 21st March 2014. Date of hearing was fixed on 25.03.2014 in Kanpur. However, the Ld. CIT was not available

SURYA MERCHANTS LTD.,NEW DELHI vs. CIT, KANPUR

In the result, all the five Appeals filed by the Assessee stand

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

Housing and Finance Ltd. (2009) 320 ITR 157 (MP HC) 6.7 Lastly, Ld. AR of the assessee stated that Show cause notice u/s 263 of the Act dated 14.03.2014 was received by the Assessee only at 5 PM on Friday, 21st March 2014. Date of hearing was fixed on 25.03.2014 in Kanpur. However, the Ld. CIT was not available

SURYA MERCHANTS LTD.,NEW DELHI vs. CIT, KANPUR

In the result, all the five Appeals filed by the Assessee stand

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

Housing and Finance Ltd. (2009) 320 ITR 157 (MP HC) 6.7 Lastly, Ld. AR of the assessee stated that Show cause notice u/s 263 of the Act dated 14.03.2014 was received by the Assessee only at 5 PM on Friday, 21st March 2014. Date of hearing was fixed on 25.03.2014 in Kanpur. However, the Ld. CIT was not available

SURYA MERCHANTS LTD.,NEW DELHI vs. CIT, KANPUR

In the result, all the five Appeals filed by the Assessee stand

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

Housing and Finance Ltd. (2009) 320 ITR 157 (MP HC) 6.7 Lastly, Ld. AR of the assessee stated that Show cause notice u/s 263 of the Act dated 14.03.2014 was received by the Assessee only at 5 PM on Friday, 21st March 2014. Date of hearing was fixed on 25.03.2014 in Kanpur. However, the Ld. CIT was not available

SURYA MERCHANTS LTD.,NEW DELHI vs. CIT, KANPUR

In the result, all the five Appeals filed by the Assessee stand

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

Housing and Finance Ltd. (2009) 320 ITR 157 (MP HC) 6.7 Lastly, Ld. AR of the assessee stated that Show cause notice u/s 263 of the Act dated 14.03.2014 was received by the Assessee only at 5 PM on Friday, 21st March 2014. Date of hearing was fixed on 25.03.2014 in Kanpur. However, the Ld. CIT was not available

COMMISSIONER OF INCOME TAX-IV vs. DELHI PRESS PATRA PRAKASHAN LTD

house may amount to manufacture does not ipso facto exclude the activity of printing from the scope of the expression “manufacture or produce an article or thing” as occurring in Section 80-I(2)(iii) of the Act. The contention of Mr Sahni that an assessee who is engaged on job work basis cannot be considered as a manufacturer