MAKSON PHARMACEUTICALS(INDIA) PRIVATE LIMITED,SURENDRANAGAR vs. PR. CIT, AHMEDABAD-3, AHMEDABAD, AHMEDABAD

ITA 1017/AHD/2024Status: DisposedITAT Ahmedabad21 July 2025AY 2018-192 pages
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What did the Tribunal hold?

The Tribunal found the PCIT's order unsustainable. It held that the PCIT had not arrived at conclusive findings regarding the incorrectness of the claims and that the interpretation of depreciation provisions by the PCIT was against the law. The Tribunal also considered the triviality of the amount in relation to the total income.

What were the facts?

The Principal Commissioner of Income Tax (PCIT) invoked Section 263, holding the Assessing Officer's (AO) assessment order erroneous and prejudicial to revenue. The PCIT cited excess depreciation claims on plant & machinery, residential building, camera, and air-conditioner, and lack of disallowance under Section 14A.

What were the issues?

Whether the PCIT correctly invoked Section 263 powers to revise the assessment order based on alleged excess depreciation and Section 14A disallowance. Whether the PCIT's interpretation of depreciation provisions was legally sound.

Which sections of the Income-tax Act were involved?

Section 263,Section 14A,Section 32

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Income Tax Appellate Tribunal, “A” BENCH, AHMEDABAD

Before: SMT. ANNAPURNA GUPTA & Ms. SUCHITRA KAMBLE

For Appellant: Shri M J Ranpura, A.R, Shri Alpesh Parmar, CIT. DR
For Respondent: Shri Alpesh Parmar, CIT. DR
Pronounced: 21/07/2025

PER SMT. ANNAPURNA GUPTA, AM:

The present appeal has been filed by the assessee against the order of the Ld. Principal Commissioner of Income Tax, Ahmedabad, (hereinafter referred to as “PCIT”), dated 14.03.2024 passed under Section 263 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) and relates to Assessment Year (A.Y.) 2018-19 holding assessment order passed by the Assessing Officer in the present case be erroneous causing prejudice to the Revenue.

ITA No. 1017/Ahd/2024 [Makson Pharmaceuticals (India) Private Li

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