TAXILA GURUKUL P.LTD,NEW DELHI vs. ACIT, CIRCLE-25(1), NEW DELHI

The appeal of the assessee is partly allowed

Bench: Sh. N. K. Billaiya & Sh. Anubhav Sharmaassessment Year: 2014-15

house property under the head "income fromhouse property: i) That the property should consist of any building, land appurtenant hereto. ii) The assessee is the owner of such building, and iii) Such building is not occupied by the assessee for the purpose of any business or occupation. Based on the above, the appellant humbly submits that: 1. The property

ADIT (E), NEW DELHI vs. FORTUNE SOCIETY FOR DEVELOPMENT AND PROMOTION OF INTERNATIONAL BUSINESS, NEW DELHI

In the result ground No. 2

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiadit(E), Vs. Fortune Society For Tc-Ii, New Delhi Development & Promotion Of International Business, G-4, Community Centre, Naraina Vihar, New Delhi Pan:Aaatf0849L (Appellant) (Respondent)

Section 2(45) of the Act and that the word "income" is a wider term than the expression "profits and gains of business or profession". Reference was made to the nature of depreciation and it was pointed out that depreciation was nothing but decrease in the value of property through wear, deterioration or obsolescence. It was observed that depreciation

DABUR INDIA LIMITED vs. COMMISSIONER OF INCOME TAX,

The appeals are dismissed

Bench: We Consider The Submissions Made In Support Of The Appeal The Following Facts Require To Be Noted:- 2.1 The Assessee Is In The Business Of Manufacturing Herbal Products & Cosmetics. On 30.11.2000 Assessee Filed Its Return For Assessment Year 2000-01 Wherein, It Declared An Income Of Rs 12,15,25,093/-. On 10.5.2001 The Return Was Processed Under Section 143(1)(A) Of The Act As The Returned Income. However, Notices Were Issued Under Section 143(2) Of The Act. 2.2 In Response To The Aforesaid Notices, Hearing Was Attended By An Authorized Representative Before The Assessing Officer. 2008:Dhc:2521

house property (D) – Profits and gains of business or profession (E) – Capital gains (F)- Income from other sources. 9.4 In the instant case, we are concerned with “profits and gains of business or profession”. Section 28 of the Act provides that, amongst others, income from “profits and gains of business or profession” which was carried on by the assessee during

M/S HOUSING & URBAN DEVLOPMENT CORPORATION LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

ACIT, NEW DELHI vs. M/S. HOUSING & URBAN DEVELOPMENT CORP. LTD. (HUDCO), NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

ACIT, NEW DELHI vs. M/S. HOUSING & URBAN DEVELOPMENT CORP. LTD. (HUDCO), NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

M/S HOUSING & URBAN DEVLOPMENT CORPORATION LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

M/S. HOUSING AND URBAN DEVELOPMENT CORPORATION LTD (HUDCO),NEW DELHI vs. DCIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose

Bench: H.S. Sidhu & Sh. O.P. Kantsl. No.

property, whether it is for stamp duty or registration charges, it will be an addition to the asset when actually incurred. The stamp duty and registration charges are levied according to the rates prevalent at time of registration, and when that event will happen is not certain in the case of the assessee and thus claiming depreciation on the basis

DIRECTOR OF INCOME TAX (EXEMPTION) vs. INDIAN TRADE PROMOTION ORGANISATION

43D which includes depreciation under section 32, the assessee is entitled is the case pressed before us by the senior counsel appearing for the assessee. We have no doubt in our mind that business income of charitable trust also has to be computed in the same manner as provided under section 29 of the Income-tax Act. However, the issue

DIRECTOR OF INCOME TAX (EXEMPTION) vs. COUNCIL OF SCIENTIFIC & INDUSTRIAL RESEARCH

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

43D which includes depreciation under section 32, the assessee is entitled is the case pressed before us by the senior counsel appearing for the assessee. We have no doubt in our mind that business income of charitable trust also has to be computed in the same manner as provided under section 29 of the Income-tax Act. However, the issue

THE DIRECTOR OF INCOME TAX LAXMI NAGAR DELHI vs. TCI FOUNDATION 10 RAM BAGH AZAD MARKET ROHTAK ROAD NEW DELHI

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

43D which includes depreciation under section 32, the assessee is entitled is the case pressed before us by the senior counsel appearing for the assessee. We have no doubt in our mind that business income of charitable trust also has to be computed in the same manner as provided under section 29 of the Income-tax Act. However, the issue

DIRECTOR OF INCOME TAX (EXEMPTION) vs. M/S INDRAPRASTHA CANCER SOCIETY

Section 2(45) of the Act and that the word “income” is a wider term than the expression “profits and gains of business or profession”. Reference was made to the nature of depreciation and it was pointed out that depreciation was nothing but decrease in the value of property through wear, deterioration or obsolescence. It was observed that depreciation

CAREFOUR WC&C INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

43D relate to computation of business income, which is carried on by the assessee, it follows that the expenses during the pre- commencement period will not be deductable. Similarly loss incurred during the period cannot also be treated as business loss. It cannot, therefore, be carried forward. It has been so held in Liquidators of Pursa

M/S C&S ELECTRIC LTD.,NEW DELHI vs. DCIT LTU, NEW DELHI

In the result, the appeal of the revenue stands dismissed while appeal filed

Bench: Shri P.K.Bansal & Sh. Amit Shuklac & S Electric Ltd., Vs Dcit Ltu, (Formerly Known As Controls & Switchgear New Delhi. Co.Ltd.), 222, Okhla Industrial Estate, Phase-Iii, New Delhi. Pan-Aaacc0909K (Appellant) (Respondent) Dcit (Ltu), Vs C &S Electric Ltd., Nbcc Plaza, Pushp (Formerly Known As M/S. Control & Vihar, Sector-Iii, Switchgear Co. Ltd.), New Delhi-110017. 22, Okhla Industrial Estate, New Delhi-110020. Pan-Aaacc0909K (Appellant) (Respondent)

43D of the Income Tax Act. This view has been taken by this Tribunal in the following cases:- (i) Gem Plus Jewellery India Ltd. 194 Taxman 192 (Bombay) PB 981-988 (981, 983, 987); (ii) Sahasra Electronics Pvt.Ltd., ITA No.1951/Del/2009-AY 2005-06; and (iii) ACIT vs Jewellery Solutions International Pvt. Ltd. [2009] 28 SOT 405 (ITAT, Mumbai Bench

DCIT(LTU), NEW DELHI vs. M/S. C&S ELECTRIC LTD,, NEW DELHI

In the result, the appeal of the revenue stands dismissed while appeal filed

Bench: Shri P.K.Bansal & Sh. Amit Shuklac & S Electric Ltd., Vs Dcit Ltu, (Formerly Known As Controls & Switchgear New Delhi. Co.Ltd.), 222, Okhla Industrial Estate, Phase-Iii, New Delhi. Pan-Aaacc0909K (Appellant) (Respondent) Dcit (Ltu), Vs C &S Electric Ltd., Nbcc Plaza, Pushp (Formerly Known As M/S. Control & Vihar, Sector-Iii, Switchgear Co. Ltd.), New Delhi-110017. 22, Okhla Industrial Estate, New Delhi-110020. Pan-Aaacc0909K (Appellant) (Respondent)

43D of the Income Tax Act. This view has been taken by this Tribunal in the following cases:- (i) Gem Plus Jewellery India Ltd. 194 Taxman 192 (Bombay) PB 981-988 (981, 983, 987); (ii) Sahasra Electronics Pvt.Ltd., ITA No.1951/Del/2009-AY 2005-06; and (iii) ACIT vs Jewellery Solutions International Pvt. Ltd. [2009] 28 SOT 405 (ITAT, Mumbai Bench