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

44C and has simply disallowed these expenses on the basis of the stand taken by the Assessing Officer in earlier assessment years. (c) The expenses are allowable since it is undisputed that the commercial production started in AY 2010-11.” 62. In view of the above, we find no infirmity in the order of the Ld. CIT(A) in allowing

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

44C and has simply disallowed these expenses on the basis of the stand taken by the Assessing Officer in earlier assessment years. (c) The expenses are allowable since it is undisputed that the commercial production started in AY 2010-11.” 62. In view of the above, we find no infirmity in the order of the Ld. CIT(A) in allowing

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

44C and has simply disallowed these expenses on the basis of the stand taken by the Assessing Officer in earlier assessment years. (c) The expenses are allowable since it is undisputed that the commercial production started in AY 2010-11.” 62. In view of the above, we find no infirmity in the order of the Ld. CIT(A) in allowing

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

44C and has simply disallowed these expenses on the basis of the stand taken by the Assessing Officer in earlier assessment years. (c) The expenses are allowable since it is undisputed that the commercial production started in AY 2010-11.” 62. In view of the above, we find no infirmity in the order of the Ld. CIT(A) in allowing

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

44C and has simply disallowed these expenses on the basis of the stand taken by the Assessing Officer in earlier assessment years. (c) The expenses are allowable since it is undisputed that the commercial production started in AY 2010-11.” 62. In view of the above, we find no infirmity in the order of the Ld. CIT(A) in allowing

MUFG BANK LTD,NEW DELHI vs. ACIT (INTERNATIONAL TAXATION) CIRCLE-2(2)(1), NEW DELHI

In the result appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Mufg Bank Ltd, Vs. Acit (International Taxation), 5Th Floor, Worldmark 2, Asset 8, Circle-2(2)(1), Aerocity, Nh-8, New Delhi New Delhi Pan: Aabct3880D (Appellant) (Respondent)

44C of the Act, by ignoring the alleged addition made to the total income on account of interest received by the Appellant on ECBs. 5 Taxability of interest under section 244A of the Act on income tax refund That on the facts and circumstances of the case and in law, the Id. AO has erred in taxing the interest

M/S. BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. JCIT (INTERNATIONAL TAXATION), DEHRADUN

In the result, the appeal filed by the assessee is partly allowed for

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Bg Exploration & Production India Jcit (International Taxation), Ltd., Dehradun. Lake Boulevard Road, Vs. Hiranandani Business Park, Powai, Mumbai.

section 44C does not spell out what construed head office expenses, therefore, specific services will include head office expenses. Reiterating his arguments as made while 40 arguing in ground no.9, he submitted that the order of the Assessing Officer/DRP should be upheld. 60. We have considered the rival arguments made by both the sides and perused the material available

M/S. THE BANK OF TOKYO-MITSUBISHI UFJ LTD.,NEW DELHI vs. DDIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla, V.P. & Dr. B.R.R. Kumar, A.M. आयकर अपील सं. / Ita No. 1162/Del/2014 आयकर अपील सं आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Year: 2009-10 िनधा"रण वष" िनधा"रण वष" The Bank Of Tokyo-Mitsubishi Ufj Ltd., Jeevan Vihar Building, 3, Parliament Street, New Delhi-110001. .............अपीलाथ"/Appellant Pan-Aabct3880D Vs The Ddit (International Taxation), Circle-1(1), …………. ""यथ" / Respondent New Delhi अपीलाथ" क" ओर से / Appellant By: Sh. Percy Pardiwala, Sr.Adv & Sh. Hiteh Chande, Adv. ""यथ" क" ओर से / Respondent By: Sh. H.K.Choudhary, Cit Dr

44C of the Act. 10. This Court has perused the order of the Bombay High Court in Emirates Commercial (supra) where on identical facts, the issue was decided in favour of the Assessee. This order of the Bombay High Court has been affirmed by the Supreme Court by order dated 26th August 2008 in Commissioner of Income

M/S. THE BANK OF TOKYO-MITSUBISHI, UFJ LTD.,NEW DELHI vs. DDIT, NEW DELHI

Appeal is dismissed

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

section 115JB of the Act ignoring the fact that the Ld. AO has increased the book profits of the Appellant by the amount of provision for bad and doubtful debts and depreciation on investment in the earlier years. 4 Deduction for expenditure incurred on Japanese Foodstuff: Rs 256,598 That on the facts and in the circumstances

DDIT, NEW DELHI vs. M/S. THE BANK OF TOKYO MITSUBISHI UFJ LTD., NEW DELHI

Appeal is dismissed

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

section 115JB of the Act ignoring the fact that the Ld. AO has increased the book profits of the Appellant by the amount of provision for bad and doubtful debts and depreciation on investment in the earlier years. 4 Deduction for expenditure incurred on Japanese Foodstuff: Rs 256,598 That on the facts and in the circumstances

TRAVELPORT INTERNATIONAL OPERATIONS LIMITED,BERKSHIRE vs. ACIT, CIRCLE-3(1)(1), INT. TAX-3, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2016-17

44C of the Act 9. The Appellant denies each allegation and statement made by the Assessing Officer in the impugned order and orders relied upon by him, unless the same is specifically admitted by the Appellant or is otherwise borne out by the record. 10. Without prejudice to the generality of the above, the Appellant denies the following amongst other

STANDARD CHARTERED GRINDLAYS BANK,NEW DELHI vs. ADIT INTERNATIONAL TAXATION, NEW DELHI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Ms. Sushma Chowladr. B. R. R. Kumar(Through Video Coferencing)

44C." Though the allowability of expenses in relation to raising deposits from NRI abroad is not subject to further discussion, however, what is to be found is that when the expenses were incurred and deposits were raised, what was the deposit raised and whether it was brought into India in respect of Indian business or not is not forthcoming from

COMMISSIONER OF INCOME TAX vs. ANZ GRINDLAYS BANK LTD.

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

section 44C referred to 'executive and general administration expenditure. Special expenses for soliciting foreign currency deposits from NRI customers were not in the nature of "executive and administrative" expenses as contemplated under sec.44C of the Income Tax Act, 1961. It was further submitted that even if these expenses were treated as head office expenses, they were still fully allowable

DIRECTOR OF INCOME TAX vs. STANDARD CHARTERED GRINDLAYS BANK LTD.

Bench: HON'BLE MR. JUSTICE RAVINDER DUDEJA,HON'BLE MR. JUSTICE YASHWANT VARMA

section 44C referred to 'executive and general administration expenditure. Special expenses for soliciting foreign currency deposits from NRI customers were not in the nature of "executive and administrative" expenses as contemplated under sec.44C of the Income Tax Act, 1961. It was further submitted that even if these expenses were treated as head office expenses, they were still fully allowable

THE COMMISSIONER OF INCOME TAX - INTERNATIONAL TAXATION -3 vs. STANDARD CHARTERED GRINDLAYS LTD .

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

section 44C referred to 'executive and general administration expenditure. Special expenses for soliciting foreign currency deposits from NRI customers were not in the nature of "executive and administrative" expenses as contemplated under sec.44C of the Income Tax Act, 1961. It was further submitted that even if these expenses were treated as head office expenses, they were still fully allowable

DIRECTOR OF INCOME TAX vs. STANDARD CHARTERED GRINDALYS BANK LTD.

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

section 44C referred to 'executive and general administration expenditure. Special expenses for soliciting foreign currency deposits from NRI customers were not in the nature of "executive and administrative" expenses as contemplated under sec.44C of the Income Tax Act, 1961. It was further submitted that even if these expenses were treated as head office expenses, they were still fully allowable

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

44C and that part of the aforesaid expenditure which was not approved by the Operator Board of the PSC, was outside the purview of section 42(1) of the Act. Accordingly, such expenses incurred by the appellant were held to be in the nature of head office ITA Nos. 7476 & 7477Del/2018 29 BG Exploration & Production India Ltd. expenditure allowable

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

44C and that part of the aforesaid expenditure which was not approved by the Operator Board of the PSC, was outside the purview of section 42(1) of the Act. Accordingly, such expenses incurred by the appellant were held to be in the nature of head office ITA Nos. 7476 & 7477Del/2018 29 BG Exploration & Production India Ltd. expenditure allowable