“carry forward of depreciation”

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

case (supra) it was held that\nthe section 80 refers to the loss and not for unabsorbed depreciation and,\ntherefore, in respect of carry forward of depreciation, there is no obligation to\nfile return within the time prescribed for the return under section 139(1). This\nview was reiterated ... npermissible when the return is filed within the stipulated time under section\n139(1). There is no reference to the provision for carry forward of depreciation\nor investment allowance in section 80.\"\n11. In the case of CIT v. Virmani Industries (P.) Ltd. [1995] 216 ITR 607 / 83\nTaxman

SUVINO TELEVIDEO,MUMBAI vs. ITO WARD 25(1)(3), MUMBAI

In the result, appeal filed by the assessee is allowed in the above terms

details\nand submissions.\n\n3. The ld. AO was of the view that the business losses included depreciation\nu/s.72 of the Act, hence, carry forward of depreciation including\nbusiness losses can be set off from business income only. It is further\nstated that in case of assessee there ... carry forward depreciation pertaining to the asst. yr.\n1994-95. The provisions as applicable for the asst. yr. 1994-95 do not\nrestrict carry forward of depreciation for any specified period and as per\nthe provisions as they existed then, the depreciation carried forward from\nthe earlier years

AUTOGRAPH CARS (INDIA) PRIVATE LIMITED,BANDRA EAST, MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 14(1)(1), MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri Anikesh Banerjee & Shri Gagan Goyalm/S. Autograph Cars (India) Pvt. Ltd., Flat No. 2130, Building No. 42, Anand Chs, Gandhi Nagar, Bandra East, Mumbai - 400 051. Pan: Aafca 0420J ...... Appellant Vs. Dy. Commissioner Of Income, Circle-14(1), Aayakar Bhawan, M.K. Road, Mumbai – 400 020. ..... Respondent

appeal. 5. The learned Commissioner of Income tax (Appeals) erred in failing to consider and adjudicate the ground of appeal against disallowance of carry forward of depreciation under Section 32(2) Rs. 63,85,255/- notwithstanding the operation of the provisions of Section 80. 6.The learned Commissioner of Income

M/S AUTOGRAPH CARS (INDIA) ,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE (NFAC) INCOME TAX DEPARTMENT, MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri Vikas Awasthy & Ms. Padmavathy.Sआअसं.2928/मुं/2023 (िन.व. 2013-14) M/S. Autograph Cars (India) Private Limited, C/O. R.K.Khanna & Associates, 402, Regent Chambers, Nariman Point, Mumbai 400 021 Pan: Aafca-0420-J ...... अपीलाथ"/Appellant बनाम Vs. The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Deputy Commissioner Of Income Tax, Circle 14(1)(1), Mumbai – 400 020 ..... "ितवादी/Respondent

unabsorbed depreciation of preceding Assessment Years, the same was disallowed by the Assessing Officer. In the First Appellate proceedings, the CIT(A) allowed carry forward of depreciation but disallowed assessee’s claim of depreciation of current year u/s.32 of the Act stating that the assessee was not carrying ... ground before the CIT(A) assailing disallowance of carry forward of unabsorbed depreciation. The CIT(A) allowed assessee’s 5 claim of carry forward of depreciation u/s. 32(2) of the Act in para 4.4 of the impugned order. Thereafter, the CIT(A) in para-5 of the impugned order

DCIT, CIRCLE-1, , KALYAN vs. M/S ASB INTERNATIONAL PVT LTD, MUMBAI

In the result the appeal of the revenue stand dismissed

Bench: Amarjit Singh & Shri Sandip Singh Karhaildcit, C-1,Kalyan Vs. M/S. Asb International 1St Floor, Mohan Plaza, Pvt. Ltd. Mayale Naar, E9, E44, Addl. Kalyan(W)- 421301 Ambernath, Industrial Area, Anand Nagar, Ambernath Thane-421506 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaaca8424F Appellant .. Respondent C.O. No. 65/Mum/2023 (A.Y. 2009-10)

depreciation and business loss relating to the assessment year 2001-02 onwards. The amendment indicates the legislative intention of providing the benefit of carry forward of depreciation and P a g e | 22 ITA No. 1541/Mum/2023 & CO No. 65/Mum/2023 AY 2009-10 ASSB International Pvt. Ltd. business loss relating ... wherein the Board has stated that the purpose of amendment is to entitle an assessee to the benefit of carry forward of depreciation and loss suffered during the tax holiday period. The circular dated September 5, 2003, reads as under ([2003] 263 ITR (St.) 62, 77): "20. Providing for carry

DCIT, 1(1)(1), MUMBAI vs. CABOT INDIA LTD., NAVI MUMBAI

In the result ITA number 1911/M/2016 filed by the learned assessing officer for assessment year 2011 – 12 is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

file of the learned assessing officer with a direction to assessee to submit before the learned assessing officer the chart of allowability of carry forward of depreciation and business losses, the learned AO may examine the same and if it is found in accordance with the law, grant same. Accordingly

CABOT INDIA LTD.,MUMBAI vs. ACIT 15 (1) (2), MUMBAI

In the result ITA number 1911/M/2016 filed by the learned assessing officer for assessment year 2011 – 12 is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

file of the learned assessing officer with a direction to assessee to submit before the learned assessing officer the chart of allowability of carry forward of depreciation and business losses, the learned AO may examine the same and if it is found in accordance with the law, grant same. Accordingly

CABOT INDIA LTD.,MUMBAI vs. DCIT 1(1), MUMBAI

In the result ITA number 1911/M/2016 filed by the learned assessing officer for assessment year 2011 – 12 is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

file of the learned assessing officer with a direction to assessee to submit before the learned assessing officer the chart of allowability of carry forward of depreciation and business losses, the learned AO may examine the same and if it is found in accordance with the law, grant same. Accordingly

ASST CIT 15(1)(2), MUMBAI vs. CABOT INDIA LTD, NAVI MUMBAI

In the result ITA number 1911/M/2016 filed by the learned assessing officer for assessment year 2011 – 12 is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

file of the learned assessing officer with a direction to assessee to submit before the learned assessing officer the chart of allowability of carry forward of depreciation and business losses, the learned AO may examine the same and if it is found in accordance with the law, grant same. Accordingly

CABOT INDIA LTD,MUMBAI vs. DCIT 1(1), MUMBAI

In the result ITA number 1911/M/2016 filed by the learned assessing officer for assessment year 2011 – 12 is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

file of the learned assessing officer with a direction to assessee to submit before the learned assessing officer the chart of allowability of carry forward of depreciation and business losses, the learned AO may examine the same and if it is found in accordance with the law, grant same. Accordingly

CABOT INDIA LTD,MUMBAI vs. DCIT 1(1), MUMBAI

In the result ITA number 1911/M/2016 filed by the learned assessing officer for assessment year 2011 – 12 is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

file of the learned assessing officer with a direction to assessee to submit before the learned assessing officer the chart of allowability of carry forward of depreciation and business losses, the learned AO may examine the same and if it is found in accordance with the law, grant same. Accordingly

CABOT INDIA LTD,MUMBAI vs. DCIT 1(1), MUMBAI

In the result ITA number 1911/M/2016 filed by the learned assessing officer for assessment year 2011 – 12 is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

file of the learned assessing officer with a direction to assessee to submit before the learned assessing officer the chart of allowability of carry forward of depreciation and business losses, the learned AO may examine the same and if it is found in accordance with the law, grant same. Accordingly