7 2. Weizmann Forex Ltd., Vs. DCIT, 21 Taxmann.com 99 3. Natco Exports v. Dy CIT

20 Taxmann.com 520Reported decision2003#23575 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2020 to 2021.

Judgments citing 7 2. Weizmann Forex Ltd., Vs. DCIT, 21 Taxmann.com 99 3. Natco Exports v. Dy CIT

NATUROL BIOCHEMICALS AND FOODS LIMITED(NOW KNOWN AS KALEESUWARI REFINERY AND INDUSTRY PVT LTD ),HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(1), HYDERABAD

In the result, appeal of the assessee is allowed in above terms

ITA 760/HYD/2018[2014-15]Status: DisposedITAT Hyderabad08 Oct 2021AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2014-15 Natural Biochemicals & Vs. Asst. Commissioner Of Foods Ltd. (Now Known As Income-Tax, Kaleesuwari Refinery & Circle – 16(1), Industry Pvt. Ltd.), Hyderabad. Hyderabad. Pan – Aabcn 7337H (Appellant) (Respondent) Assessee By: Shri Psrvv Surya Rao Revenue By: Shri Yvst Sai Date Of Hearing: 27/09/2021 Date Of Pronouncement: 08/10/2021

For Appellant: Shri PSRVV Surya RaoFor Respondent: Shri YVST Sai
Section 143(1)Section 143(3)Section 32(1)

…laim of depreciation in the impugned AY is not correct as facts in in the impugned AY are similar to that of AY 2013-14. The AR of the assessee relied on the following cases in support of assessee’s case: 1. DCIT Vs. Coromandel Bio Tech Industries Ld., [2012] 20 Taxmann.com 520 (Hyd – ITAT) 2. Babul Products (P) Ltd. VS. ACIT, [2017] 87 Taxmann.com 79 (Ahd – ITAT 3. CIT Vs. Yamaha Motor India (P) Ltd. [2009] 183 Taxman 291 (Delhi – HC) 4. CIT Vs. Integrated Technologies Ltd. [2011] ITA No. 530/2011 (Delhi – HC) 7. The ld. DR, on the other hand, besides relying on the orders of revenue authorities, submitted that…

OCIMUM BIO SOLUTIONS INDIA LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(2), HYDERABAD

In the result, appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is also allowed for statistical purposes

ITA 2091/HYD/2018[2015-16]Status: DisposedITAT Hyderabad18 Dec 2020AY 2015-16

Bench: Shri P. Madhavi Devi & D.S. Sunder Singh(Through Video Conference) Assessment Year: 2015-16 Dy. Commissioner Of Income- Vs. Ocimum Bio Solutions India Tax, Circle – 16(2), Hyderabad. Ltd., Hyderabad.

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Smt. Nivedita Biswas

…s, hence, requested to set aside the orders of lower authorities and delete the addition made by the AO. The assessee relied on the decision of Natco Exports Vs DCIT of ITAT, Hyderabad reported in (2003) 86 ITD 445 and Coramandal Bio Tech Industries Ltd(2012) 20 Taxmann.com 520 Hyderabad bench. 6 ITA.Nos. 1751 & 2091/Hyd/2018 Ocimum Bio Solutions India Ltd., Hyd.. 8. Per contra, the ld. DR vehemently supported the orders of the Ld.CIT(A) and argued that the ld. CIT(A) directed the AO to allow the depreciation after verifying the details and vouchers, since, the assessee failed to produce the evidences establishi…

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(2), HYDERABAD vs. OCIMUM BIO SOLUTIONS INDIA LIMITED , HYDERABAD

In the result, appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is also allowed for statistical purposes

ITA 1751/HYD/2018[2015-16]Status: DisposedITAT Hyderabad18 Dec 2020AY 2015-16

Bench: Shri P. Madhavi Devi & D.S. Sunder Singh(Through Video Conference) Assessment Year: 2015-16 Dy. Commissioner Of Income- Vs. Ocimum Bio Solutions India Tax, Circle – 16(2), Hyderabad. Ltd., Hyderabad.

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Smt. Nivedita Biswas

…s, hence, requested to set aside the orders of lower authorities and delete the addition made by the AO. The assessee relied on the decision of Natco Exports Vs DCIT of ITAT, Hyderabad reported in (2003) 86 ITD 445 and Coramandal Bio Tech Industries Ltd(2012) 20 Taxmann.com 520 Hyderabad bench. 6 ITA.Nos. 1751 & 2091/Hyd/2018 Ocimum Bio Solutions India Ltd., Hyd.. 8. Per contra, the ld. DR vehemently supported the orders of the Ld.CIT(A) and argued that the ld. CIT(A) directed the AO to allow the depreciation after verifying the details and vouchers, since, the assessee failed to produce the evidences establishi…

7 2. Weizmann Forex Ltd., Vs. DCIT, 21 Taxmann.com 99 3. Natco Exports v. Dy CIT (20 Taxmann.com 520) — Cited in 3 Judgments | BharatTax