Bodal Chemicals Ltd. v. ACIT

180 ITD 313Income Tax Appellate Tribunal2020#11209 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2021 to 2024.

Issues it is cited on

business transfer agreementopening wdvsection 170closely held companyresulting companywritten down valuecolourable devicesection 47depreciation on goodwillsection 32(1)(ii)intangible assetsrule of consistency

Judgments citing Bodal Chemicals Ltd. v. ACIT

ACIT, Circle-1(1)(1), Ahmedabad, Vejalpur vs. Aia Engineering Limited, Ahmedabad

In the result, the appeal filed by the Revenue is dismissed, whereas the appeal filed by the assessee is allowed

ITA 532/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad21 Oct 2024AY 2016-17

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 397/Ahd/2024 िनधा"रण वष"/Assessment Year: 2016-17 बनाम Aia Engineering Limited, Dcit Vs. 115, Gvmm Estate, Odhav Road, Circle-1(1)(1), Odhav, Ahmedabad-382415 Ahmedabad Pan : Aabca 2777 J आयकर अपील सं / Ita No. 532/Ahd/2024 िनधा"रणवष"/Assessment Year: 2016-17 बनाम Aia Engineering Limited, Acit, Vs. 115, Gvmm Estate, Odhav Road, Circle-1(1)(1), Odhav, Ahmedabad-382415 Ahmedabad Pan : Aabca 2777 J अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" िनधा"रती की ओर से / Assessee By : Shri Tushar Hemani, Sr. Advocate & Shri Parimalsinh B. Parmar, Ar ""थ" की ओर से / Revenue By : Shri Pratik Sharma, Sr Dr & Shri Sudhendu Das, Cit-Dr तारीख/Date Of Hearing : 09.10.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 21.10.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Shri Pratik Sharma, Sr DR &
Section 154Section 250Section 32

…d in succeeding years. Reliance was placed on the following decisions:- a. DCIT Vs. Gujarat Narmada Valley Fertilizers Co., (2014) 222 Taxman.com 30 (Gujarat); b. Hindustan Coca Cola Beverages – ITA No. 6605/Del/2024 (Mumbai); c. Bodal Chemicals Ltd Vs. ACIT, 180 ITD 313 (Ahd.) AIA Engineering Ltd - Cross Appeals AY : 2016-17 (ii) That, following the principle of consistency, depreciation having been allowed consistently in the preceding years, i.e. AYs 2014-15 and 2015-16, depreciation could not have been disallowed in the impugned year. Reference was made to the following decisions:- a. CIT Vs. Excel Industr…

Ananya Finance for Inclusive Growth Pvt. Ltd., Ahmedabad vs. The Asst.Commissioner of Income Tax Circle-1(1)(1), Ahmedabad

ITA 1744/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2016-17

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

…verages Pvt. Ltd. – ITA No.6605/Del/2014 (Del) where it was held by the tribunal that once an asset enters into block of asset and depreciation is granted in initial year of claim the same cannot be disturbed in the subsequent years. 3. Bodal Chemicals Ltd. – 180 ITD 313 (Ahd.) where tribunal held that the principle of consistency is to be followed when there is no change in facts and circumstances. 29. The DR relied on the order of AO and stated that since the AO has not verified the invoices, they should be sent to Ao for verification. ITA Nos.960/Ahd/2016, 1186/Ahd/2016, 2275/Ahd/2017, 2276/Ahd/2017 & 1744//…

Ananya Finance for Inclusive Growth Pvt.Ltd., Ahmedabad vs. Dy.Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

ITA 2276/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2014-15

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

…verages Pvt. Ltd. – ITA No.6605/Del/2014 (Del) where it was held by the tribunal that once an asset enters into block of asset and depreciation is granted in initial year of claim the same cannot be disturbed in the subsequent years. 3. Bodal Chemicals Ltd. – 180 ITD 313 (Ahd.) where tribunal held that the principle of consistency is to be followed when there is no change in facts and circumstances. 29. The DR relied on the order of AO and stated that since the AO has not verified the invoices, they should be sent to Ao for verification. ITA Nos.960/Ahd/2016, 1186/Ahd/2016, 2275/Ahd/2017, 2276/Ahd/2017 & 1744//…

Ananya Finance for Inclusive Growth Pvt.Ltd., Ahmedabad vs. Dy.Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

ITA 2275/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2013-14

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

…verages Pvt. Ltd. – ITA No.6605/Del/2014 (Del) where it was held by the tribunal that once an asset enters into block of asset and depreciation is granted in initial year of claim the same cannot be disturbed in the subsequent years. 3. Bodal Chemicals Ltd. – 180 ITD 313 (Ahd.) where tribunal held that the principle of consistency is to be followed when there is no change in facts and circumstances. 29. The DR relied on the order of AO and stated that since the AO has not verified the invoices, they should be sent to Ao for verification. ITA Nos.960/Ahd/2016, 1186/Ahd/2016, 2275/Ahd/2017, 2276/Ahd/2017 & 1744//…

Ananya Finance for Inclusive Growth Pvt.Ltd., Ahmedabad vs. Dy.Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

ITA 960/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

…verages Pvt. Ltd. – ITA No.6605/Del/2014 (Del) where it was held by the tribunal that once an asset enters into block of asset and depreciation is granted in initial year of claim the same cannot be disturbed in the subsequent years. 3. Bodal Chemicals Ltd. – 180 ITD 313 (Ahd.) where tribunal held that the principle of consistency is to be followed when there is no change in facts and circumstances. 29. The DR relied on the order of AO and stated that since the AO has not verified the invoices, they should be sent to Ao for verification. ITA Nos.960/Ahd/2016, 1186/Ahd/2016, 2275/Ahd/2017, 2276/Ahd/2017 & 1744//…

The Dy.Commissioner of Income Tax Circle-1(1)(1), Ahmedabad vs. M/S. Ananya Finance for Inclusive Growth Pvt. Ltd., Ahmedabad

ITA 1186/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

…verages Pvt. Ltd. – ITA No.6605/Del/2014 (Del) where it was held by the tribunal that once an asset enters into block of asset and depreciation is granted in initial year of claim the same cannot be disturbed in the subsequent years. 3. Bodal Chemicals Ltd. – 180 ITD 313 (Ahd.) where tribunal held that the principle of consistency is to be followed when there is no change in facts and circumstances. 29. The DR relied on the order of AO and stated that since the AO has not verified the invoices, they should be sent to Ao for verification. ITA Nos.960/Ahd/2016, 1186/Ahd/2016, 2275/Ahd/2017, 2276/Ahd/2017 & 1744//…

Primetals Technologies India Pvt. Ltd., Kolkata vs. ACIT, Circle - 1(1), Kolkata

In the result, appeals of the assessee for Assessment Year 2017-18

ITA 372/KOL/2022[2018-2019]Status: DisposedITAT Kolkata16 May 2024AY 2018-2019

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

For Appellant: Shri Ajoy Vora, Sr. Advocate and Pooja Saraf, ARFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 143(3)Section 144CSection 144C(5)Section 156Section 32(1)Section 92C

…view which has been taken in the given facts and circumstances and peculiar to the Assessee’s case gives rise to any substantial question of law……….” (emphasis supplied) 19. The Ahmedabad bench of the Tribunal in the case of Bodal Chemicals Ltd vs ACIT [2020] 180 ITD 313 (Ahd Trib.) held that the assessing officer cannot disallow the claim of deprecation on goodwill in the second year, when the same was not disputed by him in the first year. In the said case, under the scheme of amalgamation, the assessee treated excess consideration over net assets acquired by it from amalgamating company as goodwill in its book…

Primetals Technologies India Private Limited, Kolkata vs. ACIT, Circle-1(1), Kolkata

In the result, appeals of the assessee for Assessment Year 2017-18

ITA 371/KOL/2022[2017-2018]Status: DisposedITAT Kolkata16 May 2024AY 2017-2018

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

For Appellant: Shri Ajoy Vora, Sr. Advocate and Pooja Saraf, ARFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 143(3)Section 144CSection 144C(5)Section 156Section 32(1)Section 92C

…view which has been taken in the given facts and circumstances and peculiar to the Assessee’s case gives rise to any substantial question of law……….” (emphasis supplied) 19. The Ahmedabad bench of the Tribunal in the case of Bodal Chemicals Ltd vs ACIT [2020] 180 ITD 313 (Ahd Trib.) held that the assessing officer cannot disallow the claim of deprecation on goodwill in the second year, when the same was not disputed by him in the first year. In the said case, under the scheme of amalgamation, the assessee treated excess consideration over net assets acquired by it from amalgamating company as goodwill in its book…

M/S. Surzlon Global Services Ltd., Ahmedabad vs. The Pr. CIT-3, Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 67/AHD/2021[2016-17]Status: DisposedITAT Ahmedabad16 Sept 2021AY 2016-17

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 67-68/Ahd/2021 िनधा"रण वष"/Asstt. Years: 2016-2017 & 2017-2018 M/S. Suzlon Global Services Limited, Principal Commissioner 5 Suzlon, Shrimali Society, Vs. Of Income-Tax, Near Shree Krishna Centre, Ahmedabad. Nr. Judges Bunglow Cross Road, Ahmedabad-380009. Pan: Aaics1406R

For Appellant: Shri T.P. Hemani Sr.Advocate, &For Respondent: Shri Mohd Usman, CIT.D.R
Section 143(3)Section 263Section 263(2)Section 32

…or the amount of depreciation on the goodwill should be allowed based on consistency in the given facts and circumstances. 10.2 In holding so, we draw support and guidance from the order of of this Tribunal in the case of Bodal Chemicals Vs. ACIT reported in 180 ITD 313 wherein it was held as under: “Before parting, we are conscious to the fact that the assessee was allowed for depreciation in respect of such goodwill in the 1st year of amalgamation i.e. AY 2006-07. There was no action either under section 263 or 147 of the Act by the revenue. Therefore we can safely presume that the claim of the depreciation o…

Bodal Chemicals Ltd. v. ACIT (180 ITD 313) — Cited in 9 Judgments | BharatTax