Question: What is the difference between *make decision* and *take decision*? When to use the one and when the other?

Answer: 
Per se, there appears to be no difference in meaning.
Even so, "taking a decision" is common in British parlance, whereas "making a decision" is more common in the US.

Refer [BetterWritingSkills](http://www.betterwritingskills.com/articles/take-decisions.txt) for more information.
Actually decisions deal with options. You may have several options to choose from at which time you may choose an option. Hence I may request that you choose or pick an option. Obviously when you pick an option you are taking that corse of action. As you can see when you pick you decide to take. Even though making a decision is more common the logical reasoning leads one to take a decision to use take versus make. Once you decide the corse of action to take in deciding to use "take" the usage will feel more natural .