“amalgamation”

DCIT-2(1)(1), Mumbai vs. Bank of Baroda, Mumbai

In the result, appeal of the Revenue stands dismissed

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankardeputy Commissioner Of V/S. Bank Of Baroda Income Tax – 2(1)(1), बनाम 2Nd Floor, Baroda Corporate Room No. 561, 5Th Floor, Centre, C 26, G Block, Bandra Aayakar Bhavan, Mumbai – Kurla Complex, Bandra(East), 400 051, Maharashtra Mumbai 400 051, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacb1534F .. Appellant/अपीलार्थी Respondent/प्रतिवादी

delay. 4. Facts in brief are that the assessee is a nationalised bank, formerly known as ‘Dena Bank’ and now Bank of Baroda, post amalgamation. The original assessment order u/s 143(3) of the Act was passed on 28.12.2017 which was later set aside by the ld.PCIT-2, Mumbai

DCIT CC 8(2), Mumbai vs. Echjay Industries Private Limited, Mumbai

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Income Tax Act, 1961, on the depreciation u/s 32 of the Income Tax Act, 1961, on the goodwill arising out of a Scheme of Amalgamation goodwill arising out of a Scheme of Amalgamation goodwill arising out of a Scheme of Amalgamation approved by the Hon, ble Gujarat High Court, where ... assessee being the the Income Tax Act, 1961, the assessee being the the Income Tax Act, 1961, the assessee being the amalgamated company, was entitled to claim depreciation amalgamated company, was entitled to claim depreciation amalgamated company, was entitled to claim depreciation on on goodwill, goodwill, when when

DCIT CC 8(2), Mumbai vs. Echjay Industries Private Limited, Mumbai

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Income Tax Act, 1961, on the depreciation u/s 32 of the Income Tax Act, 1961, on the goodwill arising out of a Scheme of Amalgamation goodwill arising out of a Scheme of Amalgamation goodwill arising out of a Scheme of Amalgamation approved by the Hon, ble Gujarat High Court, where ... assessee being the the Income Tax Act, 1961, the assessee being the the Income Tax Act, 1961, the assessee being the amalgamated company, was entitled to claim depreciation amalgamated company, was entitled to claim depreciation amalgamated company, was entitled to claim depreciation on on goodwill, goodwill, when when

DCIT Circle 2.3.1, Mumbai vs. Prestige Holiday Resorts Private Limited, Mumbai

In the result, ground no. 2 and 3 are

Bench: Shri Pawan Singh& Shri Arun Khodpia

Court in case of M/s Mahagun Realtors (P) Ltd dated 05/04/2022 wherein it was held that on the death of a corporate entity upon amalgamation per se, cannot invalidate the assessment order. 9. On the disallowance of depreciation on addition in the ‘block of assets’, the assessee reiterated its contention ... issued notice as well as passed assessment order in the name of erstwhile entity namely Suzuki Powertrain India Ltd. Even though said entity was amalgamated with Maruti Suzuki Ltd. And such fact was informed to ld. AO during pendency of assessment proceeding. Similar view was taken by jurisdiction High Court

DCIT Circle 2.3.1, Mumbai vs. Prestige Holiday Resorts Private Limited, Mumbai

In the result, ground no. 2 and 3 are

Bench: Shri Pawan Singh& Shri Arun Khodpia

Court in case of M/s Mahagun Realtors (P) Ltd dated 05/04/2022 wherein it was held that on the death of a corporate entity upon amalgamation per se, cannot invalidate the assessment order. 9. On the disallowance of depreciation on addition in the ‘block of assets’, the assessee reiterated its contention ... issued notice as well as passed assessment order in the name of erstwhile entity namely Suzuki Powertrain India Ltd. Even though said entity was amalgamated with Maruti Suzuki Ltd. And such fact was informed to ld. AO during pendency of assessment proceeding. Similar view was taken by jurisdiction High Court

Dosti Realty Limited, Mumbai vs. DCIT, Circle-1(1)(1), Mumbai

In the result appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Arun Khodpia ()

disallowance of depreciation on goodwill amounting to Rs. 9,82,98,189/- by holding that no new asset has been transferred from amalgamating company to amalgamated company. Disallowance of depreciation, ignoring the provision of AS-14, scheme of merger approved by High Court & accepted by Income Tax Department ... against disallowance of the depreciation on goodwill amounting to Rs.9,82,98,189/-. 4.2 The Ld.AR submitted that the goodwill emerged out of amalgamation of two entities with the assessee being, Dosti Land Developers Pvt. Ltd. and Friends Development Corporation (Imperial) Pvt. Ltd. It is submitted that, the said scheme

Yogeshkumar Pravinkumar Shah, Mumbai vs. Asstt. Commissioner of Income Tax 19(3), Mumbai

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

books under the guise of LTCG through structured transactions in penny stock companies. Shares were typically acquired via preferential allotment, off-market transfers, or amalgamations—routes that allowed beneficiaries to receive shares at a low cost before manipulating share prices through circular trading orchestrated by so-called "operators." These operators