TaxTMI 
TaxTMI 
2014 (11) TMI 518
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....1961 (hereinafter called the Act) on 28/02/2006 at the income of Rs. 435,03,14,230/-. On the appeal filed by the assessee, the assessee got certain relief and appeal affect u/s 143(3)/250/154 was given by the AO on 09/04/2008. 3. The assessee company is a Government of India Undertaking working under the administrative control of Ministry of Railways. It is engaged in the business of handling and transportation of containerized cargo. Its operating activities are mainly carried out at its Inland ITA No. 184/D/2013 - Container Corporation of India Ltd. 2 Container Depots (ICDs). Container Freight Stations (CFS) and Port Side Container Terminals (PSCTs) spread all over the country. Its wagons are running on Indian Railways System for carri....
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....s 143(3)/147 dated 20/12/2011 and the contention raised by the Revenue in its grounds of appeal. ITA No. 184/D/2013 - Container Corporation of India Ltd. 3 8. Ld. Counsel for the assessee controverted the argument advanced by ld. DR and relied upon the impugned order passed by the ld. First Appellate Authority. He had also filed a small paper book containing page 1 to 37 in which he has attached (i) written submissions filed before CIT(A) dated 07.08.2012, (ii) copy of submission made before AO u/s 132(2) regarding the claim of Productivity Linked Incentive (PLI) and Depreciation on P&M, (iii) copy of submissions made before AO during reassessment proceedings u/s 147/148, (iv) copy of reasons recorded by DCIT for reopening the case u/....
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.... pleaded that necessary pre-conditions for initiating the re-assessment proceedings has not been fulfilled in the case of assessee because the assessee disclose full details and facts regarding aforesaid claims in course of original assessment completed u/s 143(3) of the Act. The original assessment was completed u/s 143(3) of the Act after examining the relevant details regarding aforesaid claims. In fact the AO also asked the appellant to file documentary evidence in support of the aforesaid claims in response to which the assessee filed the details and evidences. After considering the relevant facts and details and evidences, the AO came to the conclusion that the claims were genuine and allowable under the law. Accordingly, he allowed t....
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....e impugned order, we are of the view that assessee has filed its written submissions on legal issue as well as on merit of the case with the support of various decisions rendered by the Hon'ble Jurisdictional High Court as well as the Hon'ble Supreme Court of India along with the relevant provision of law. The ld. First Appellate Authority has thoroughly considered each and every submission of the assessee and has given its finding in para no. 5 page 11 to 22. In our considered view the ld. First Appellate Authority has passed a well reasoned order on the basis of various decisions on the issues in dispute. 12. As discussed above, in the reassessment order passed u/s 143(3)/147 of the Act, the AO made the three additions namely: a) Di....
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....on account of exchange variation of Rs. 84,32,302/- capitalized in the cost of fixed assets that the third issue of disallowances of software development expenses we have seen that this issue has been decided in favour of the assessee by the Spl. Bench of ITAT Delhi in ITA No. 72/Del/2006 in the case of M/s Amway India Enterprises vs. DCIT that software development expenses are revenue in nature. The Hon'ble Jurisdictional High Court vide its order dated 04/11/2011 in the case of CIT vs. Asahi India Safety Glass Ltd. (ITA No. 1110/2006 & 1111/2006) has also held that the software development expenses are revenue in nature. The details of software expenses has already been furnished by the assessee during the course of original assessment wh....