THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR vs. M/S. KALPARATRU POWER TRANSMISSION LIMITED,, GANDHINAGAR

Appeal of the assessee is dismissed

income by not allowing the deduction of additional depreciation but also erred while calculating the assessed taxable income u/s 143(3) of the Act by way of addition

THE JOINT COMMISSIONER OF INCOME TAX(OSD),, GANDHINAGAR vs. KALPATARU POWER TRANSMISSION LTD.,, GANDHINAGAR

In the result, Revenue’s appeal in ITA No

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad1. आयकर अपील सं./I.T.A. No.1462/Ahd/2016 2.आयकर अपील सं./I.T.A. No.1463/Ahd/2016 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Respectively)

income by not allowing the deduction of additional depreciation but also erred while calculating the assessed taxable income u/s 143(3) of the Act by way of addition

THE JOINT COMMISSIONER OF INCOME TAX(OSD),, GANDHINAGAR vs. KALPATARU POWER TRANSMISSION LTD.,, GANDHINAGAR

In the result, Revenue’s appeal in ITA No

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad1. आयकर अपील सं./I.T.A. No.1462/Ahd/2016 2.आयकर अपील सं./I.T.A. No.1463/Ahd/2016 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Respectively)

income by not allowing the deduction of additional depreciation but also erred while calculating the assessed taxable income u/s 143(3) of the Act by way of addition

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

In the result, appeal filed by the assessee is allowed

additional depreciation as per law was allowable only on plant and machinery situated at factory, resulting thus in excess depreciation being allowed to the tune of Rs.17,19,392/- on the said two assets. 5. With respect to disallowance of expenses u/s 14A of the Act, the assessee was noted to have earned exempt income

THE DCIT, CIRCLE-1(1), NOW CIRCLE-1(1)(1),, BARODA vs. GUJARAT STATE ELECTRICITY CORPORATION LTD.,, BARODA

In the result, the appeal filed by the Assessee in ITA No

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

addition could be made to assessee's income on ground that while calculating total income as per section 115JB, assessee had adopted rate of depreciation

GUJARAT STATE ELECTRICITY CORPORATION LTD.,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

In the result, the appeal filed by the Assessee in ITA No

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

addition could be made to assessee's income on ground that while calculating total income as per section 115JB, assessee had adopted rate of depreciation

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), AHMEDABAD, AAYKAR BHAWAN VEJALPUR vs. SABARKANTHA DISTRICT CO-OPERATIVE MILK PRODUCERS UNION LIMITED, MILK PRODUCERS UNION LIMITED

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

additional depreciation shall be allowed in the immediate subsequent previous year. Thus, it is clear from the above insertion of proviso that the Income

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1) AHMEDABAD, AAYKAR BHAWAN VEJALPUR, PRAHLAD NAGAR vs. SABARKANTHA DISTRICT CO-OPERATIVE MILK PORODUCERS UNION LIMITED, MILK PRODUCERS UNION

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

additional depreciation shall be allowed in the immediate subsequent previous year. Thus, it is clear from the above insertion of proviso that the Income

ASIAN OILFIELD SERVICES LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

In the result, appeal of the assessee for the A

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

additional depreciation on the above items ignoring the claim of the appellant that it is a mineral oil concern. 6. The Learned CIT(A) erred in holding that Rs.3,61,255/- of gain made by the appellant on sale of shares /securities is liable to be taxed as business income

ASIAN OILFIELD SERVICE LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

In the result, appeal of the assessee for the A

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

additional depreciation on the above items ignoring the claim of the appellant that it is a mineral oil concern. 6. The Learned CIT(A) erred in holding that Rs.3,61,255/- of gain made by the appellant on sale of shares /securities is liable to be taxed as business income

MAXXIS RUBBER INDIA PVT. LTD.,AHMEDABAD vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar

additional depreciation for the preceding year from the opening WDV and then compute the normal depreciation for the relevant Maxxis Rubber India Pvt. Ltd. vs. PCIT Asst.Year –2018-19 year, as directed by the Ld. PCIT. The said computation of depreciation, as provided in the income

THE ASSTT. COMMISSIONER OF INCOME TAX, SABARKANTHA CIRCLE,, HIMATNAGAR vs. THE SABARKANTHA DISTRICT CO.-OP. MILK PRODUCERS UNION LTD.,, HIMATNAGAR

Appeal of the revenue stands dismissed

additional depreciation on Milk CANs & Equipments of Rs.40,36,716/-.” The assessee has filed return of income on 29th Sep, 2013 declaring

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE ACIT., CIRCLE-1(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No Year(S) Appellant Vs. Respondent (S) Appellant Respondent 1-2 438-439/Ahd/2018 2008-09 Ascent Finechem Pvt. A.C.I.T, Circle- & Ltd., 1(1)(2), 2009-10 11, Ground Floor, Ahmedabad. Suryarath, B/H. Whilte House, Panchawati, Ahmedabad-380015. Pan No.Aabca6349Q

income of the assessee. 8. Aggrieved assessee preferred an appeal before the Ld. CIT (A). The assessee before the Ld. CIT (A) reiterated that it claimed the depreciation at the rate of 15% and additional

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE ACIT., CIRCLE-1, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No Year(S) Appellant Vs. Respondent (S) Appellant Respondent 1-2 438-439/Ahd/2018 2008-09 Ascent Finechem Pvt. A.C.I.T, Circle- & Ltd., 1(1)(2), 2009-10 11, Ground Floor, Ahmedabad. Suryarath, B/H. Whilte House, Panchawati, Ahmedabad-380015. Pan No.Aabca6349Q

income of the assessee. 8. Aggrieved assessee preferred an appeal before the Ld. CIT (A). The assessee before the Ld. CIT (A) reiterated that it claimed the depreciation at the rate of 15% and additional

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE DCIT., CIRCLE-1(1)(1),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No Year(S) Appellant Vs. Respondent (S) Appellant Respondent 1-2 438-439/Ahd/2018 2008-09 Ascent Finechem Pvt. A.C.I.T, Circle- & Ltd., 1(1)(2), 2009-10 11, Ground Floor, Ahmedabad. Suryarath, B/H. Whilte House, Panchawati, Ahmedabad-380015. Pan No.Aabca6349Q

income of the assessee. 8. Aggrieved assessee preferred an appeal before the Ld. CIT (A). The assessee before the Ld. CIT (A) reiterated that it claimed the depreciation at the rate of 15% and additional

DAKSHIN GUJARAT VIJ COMPANY LTD.,,SURAT vs. THE PR. CIT-1,, VADODARA

In the result, the appeal of the assessee is dismissed

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Years : 2015-16 Dakshin Gujarat Vij Co. Ltd., Pri. Commissioner Of Urja Sadan, Nana Varachha Road, Vs Income-Tax-1, Kapodara Char Rasta, Surat, Ahmedabad Guajrat-395006 Pan : Aabcd 8912 C अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri M.K. Patel, Advocate Revenue By : Shri Vijaykumar Jaiswal, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 16/03/2022 घोषणा क" तार"ख /Date Of Pronouncement: 30/03/2022 आदेश / O R D E R

additional depreciation of Rs.58,57,95,373/- allowed during assessment is required to be disallowed and added to the total income

THE ACIT, CIRCLE-1(1)(1), VADODARA vs. DAKSHIN GUJARAT VIJ COMPANY LTD., SURAT

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

income nor it was reduced from the cost of assets, 15% of the same i.e. Rs.964.191 lakh needed to be disallowed as excess depreciation claimed in respect of the same. The total disallowance towards excess depreciation, therefore, worked out to Rs.9.289 crores plus Rs.9.641 crores i.e. Rs.18.93 crores. Thus, instead of net addition

DAKSHIN GUJARAT VIJ COMPANY LIMITED,SURAT vs. THE DY. CIT, CIRCLE-1(1)(1), VADODARA

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

income nor it was reduced from the cost of assets, 15% of the same i.e. Rs.964.191 lakh needed to be disallowed as excess depreciation claimed in respect of the same. The total disallowance towards excess depreciation, therefore, worked out to Rs.9.289 crores plus Rs.9.641 crores i.e. Rs.18.93 crores. Thus, instead of net addition