disallowance of Rs. 228,39,15,312/- incurred by
the assessee on aborted blocks of other contract areas underproduction Sharing
contracts other than ... computed without any regard to the losses on aborted exploration. Aggrieved, the
assessee carried the matter in appeal. Learned CIT(A) reversed the stand
deleting the disallowance of Rs. 791.19 Crores incurred by
the assessee on aborted blocks of other contract areas under Production
Sharing contracts other than ... Apropos ground No. 5, deleting disallowance of Rs. 791.19 cores on
aborted blocks.
27. Brief facts on this issue are as under :-
During the year
observed by the Assessing Officer that in spite
of the IPO being aborted, as a result of expenditure, it was authorized capital
which has increased
with
family members rushed to the hospital where they learnt that an abortion was conducted
on her at Karan Hospital and later shifted to Care ... complainant submits that Op5 informed him
that whiles they were conducting abortion on Ms. Sneha on 8.4.2009 at 11.00
p.m. the patient went into
some internal complication with fetus and forced Pooja to go in for abortion, otherwise fetus could produce poison in her body. The above facts were ... medical opinion of Dr.Monika Singla, Pooja was allowed to be aborted. That OP No.2 charged the fee of Rs.2500/- for this purpose
relates to the IPO expenses in respect of
abandoned / aborted project which is revenue in nature. It was submitted that there
was no enduring benefit ... result of such aborted expenditure. The decision of
the Hon'ble Bombay High Court in the case of Nimbus Communication Ltd. vide
expected
date of delivery was 22.12.2021. The deceased had 4 spontaneous
abortions/miscarriages and 3 living issues.
3. Consequent upon the death of Smt. Malsawmkimi ... Observations/Findings are:
(a) The patient was having history of 3 abortions and one pre term. Dr.
Laltharzeli Fanai stated that the patient while
same they went to the appellants' nursing home for its abortion who conducted D&C of her wife and committed negligence ... when his wife was having bleeding pain and she wanted abortion. Accordingly, her check up was done by the appellant no.3 and found
respect of costs pertaining to the aborted oil blocks
which are surrendered during the year, the learned CIT seriously erred
in concluding that the expense ... loss of ₹ 101 Crores. Occasioned in
respect of such aborted blocks which was allotted to the appellant
under PSC wholly distinct from PSC in respect
Transact Technologies Ltd 2
ITA No. 4653/MUM/2024
1. Disallowance of Aborted IPO Expenditure ... capital in nature but ignoring the fact that the
proposed IPO was aborted as the appellant could not open the same
by the SEBI approved
