M/S. PURITY FLEX PACK LTD.,PANCHMAHAL vs. THE DCIT,, GODHRA

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.1493/Ahd/2013 "नधा"रण वष"/Asstt. Year: 2008-2009 M/S.Purity Flex Pack Ltd. D.C.I.T, At Vanseti, Po Tajpura, Vs. Civil Lines, Tal. Halol, Near Collector Office, Dist. Panchmahal. Godhra.

forward losses" or "unabsorbed depreciation", whichever is less, could be reduced in arriving at books profits. It requires working out separate amount of losses and unabsorbed depreciation in each year from the books of account and their set-off, if any, against subsequent year's book profit for determining the amount to be carried

RAJENDRA SHIP BREAKERS PVT. LTD.,BHAVNAGAR vs. THE DCIT, CIRCLE-1, BHAVNAGAR

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 2177/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015 Rajendra Ship Breakers Pvt. Ltd., D.C.I.T., D-79, Kalvibid, Vs. Circle-1, Nr. Ram Mantra Mandir, Bhavnagar. Bhavnagar-364002. Pan: Aabcr0105P

carry forward of the returned, undisputed (and assessed) business loss and unabsorbed depreciation to the succeeding year(s), i.e. to A.Y. 2015-16 and onwards

RATNAM METALS & TUBES LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3),, AHMEDABAD

In the result, Ground No.1 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./I.T.A. No. 2081/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13)

forward losses and depreciation of windmill business even though such losses/depreciation have been duly set off against other income generated in the earlier assessment years. The assessee accordingly claimed deduction after set off of carry

CIL NOVA PETROCHEMICALS LTD.,AHMEDABAD vs. THE PR.CIT, RANGE-1, AHMEDABAD

In the result, the appeal of the assessee is dismissed as infructuous

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No.707/Ahd/2016 & आयकर अपील सं./Ita No.2374/Ahd/2018 नि◌धा"रण वष"/Asstt. Year: 2011-2012 Cil Nova Petrochemicals Ltd., Pr.C.I.T., 391/396 Moraiya Village, Vs. Range-1, Sarkhej-Bavla Highway, Ahmedabad. Sanand, Ahmedabad-382210. Pan: Aadcn0932G

forward losses became the loss of the assessee by virtue of the Hon’ble High Court of Gujarat as well as under the provisions of section 72A of the Act. 7.3 Before, we touch upon the issue on hand, it is pertinent to note that the impugned losses and unabsorbed depreciation were allowed to be carried

THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD vs. M/S. VINI COSMETIC PVT. LTD.,, AHMEDABAD

In the result, Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

forward loss and unabsorbed depreciation of Rs. 1,21,63,139/- and Rs. 5,90,37,630/- pertains to the amalgamating company namely Vini Sales & Distribution Pvt. Ltd. for A.Y. 2010-11 and 2011-12 respectively. The Learned AO with the view that the assessee company was not liable to carry

M/S. KOSA CONSTRUCTION,,AHMEDABAD vs. INCOME TAX OFFICER, WARD-1(2)(3),, VADODARA

In the result, all the grounds appeal of the assessee are allowed

carry forward business loss of Rs. 13,49,317/- and unabsorbed depreciation of Rs. 3,38,911/- as against the carry

THE DY. CIT, B.K. CIRCLE,, PALANPUR vs. BANASKANTHA DISTRICT OIL SEEDS GROWERS UNION LTD.,, PALANPUR

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

Bench: Shri Waseem Ahmed&Smt. Madhumita Royआयकरअपीलसं.Ita No. 2121/Ahd/2017 "नधा"रणवष"/Asstt. Year: 2014-15 Dcit Vs. Banaskantha District Oil Bk Circle, Seeds Growers Co- Palanpur Operative Union Ltd. Palanpur Deesa Highway, At & Post:- Badarpura Taluka, Planpur Road, Palanpur- 385001 Pan:Aaa As1 902 L

forward business loss of Rs. 4,58,19,842/- and unabsorbed depreciation of Rs. 38,01,74,402/- pertaining to A.Y. 2001-02. As the time limit for set off of business loss and unabsorbed depreciation was completed in A.Y. 2009-10, the assessee had not carried

THE DCIT, CIRCLE-4,, AHMEDABAD vs. M/S. GUJARAT MINERAL DEVELOPMENT CORPORATION LTD.,, AHMEDABAD

In the result, appeals of the assessee are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

carry forward losses of those units and set-off the same before calculating the profits of eligible unit. It has been held by him that, since there is no profit after setting off the notional loss and depreciation

GUJARAT MINERAL DEVELOPMENT CORPORATION LTD.,,AHMEDABAD vs. THE DY. CIT.,CIRCLE-4(1)(1),, AHMEDABAD

In the result, appeals of the assessee are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

carry forward losses of those units and set-off the same before calculating the profits of eligible unit. It has been held by him that, since there is no profit after setting off the notional loss and depreciation

GUJARAT MINERAL DEVELOPMENT CORPORATION LTD.,,AHMEDABAD vs. THE CIT(A), A'BAD-2,, AHMEDABAD

In the result, appeals of the assessee are partly allowed and the appeal of the revenue is dismissed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

carry forward losses of those units and set-off the same before calculating the profits of eligible unit. It has been held by him that, since there is no profit after setting off the notional loss and depreciation

BAKERI PROJECTS PRIVATE LIMITED,AHMEDABAD vs. DCIT CIRCLE 1(1)(1), AHMEDABAD, AHMEDABAD

In the result, the appeal filed by the assessee is allowed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokarasstt.Year : 2020-21 Bakeri Projects Pvt. Lt. The Dcit, Cir.(1)(1) 1St Floor, Sanskrut Vs. Ahmedabad. Old High Court Road Off: Ashram Road Ahmedabad. Pan : Aagcb 1864 L (Applicant) (Responent)

depreciation loss was available for carry forward or set off for A.Y. 2020–21 from those years. The PCIT further

SCARLETT DESIGNS PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-8(1),, AHMEDABAD

In the result, the appeal of the assessee stands allowed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

carry-forward following losses: 1. Unabsorbed depreciation for A.Y. 2009-10 1,79,378/- 2. Short Term Capital Loss for A.Y. 2009-10 16,17,834/- 3. Business

M/S. ZAVERI & CO. PVT. LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8,, AHMEDABAD

In the result, the appeal of the revenue is dismissed

losses of 1983-84, which could be set off against the income of the current ITA Nos.630 & 864 /Ahd/2017 Assessment Year: 2011-12 Page 23 of 25 assessment year 1984-85, the recomputation of income from the new industrial undertaking by setting off the carry forward of unabsorbed depreciation

THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD vs. M/S. ZAVERI & CO. LTD.,, AHMEDABAD

In the result, the appeal of the revenue is dismissed

losses of 1983-84, which could be set off against the income of the current ITA Nos.630 & 864 /Ahd/2017 Assessment Year: 2011-12 Page 23 of 25 assessment year 1984-85, the recomputation of income from the new industrial undertaking by setting off the carry forward of unabsorbed depreciation

DECISION CRAFT ANALYTICS LTD. ( NOW MERGED WITH AUDIENCE MEASUREMENT AND ANALYTICS PVT. LTD. ),AHMEDABAD vs. THE DY.CIT.,(OSD),RANGE-1,, AHMEDABAD

In the result, the appeal is allowed for statistical purpose

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No. 2336/Ahd/2014 ("नधा"रण वष" / Assessment Year : 2006-07) Decisioncraft Analytics Ltd. Dy. Commissioner Of बनाम/ (Now Merged With Audience Income Tax (Osd), Vs. Measurement Private Range – I, Limited), Ahmedabad. 601, Shapath-Ii Opp. Rajpath Club Ahmedabad – 380 015. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcc 5157 E .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से / Appellant By : Shri Krutesh Patel, Ar ""यथ" क" ओर से/Respondent By : Shri V. K. Singh, Sr. D.R.

carried forward losses. The method of computation adopted by the Assessee is neither in accordance with the provisions of the Act nor in consonance with the ratio of the decisions of various High Courts. As per the settled position of law, all the brought forward losses and depreciation

THE ITO, WARD-3(1)(2),, AHMEDABAD vs. M/S. PARRY ENGINEERING & ELECTRONICS PVT. LTD.,, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kedia"नधा"रण वष"/ Asstt. Year: 2013-14 Ito, Ward-3(1)(2) M/S.Parry Engineering & Electronics Ahmedabad. B-608, Nirman Complex Vs. Opp: Havmor Restaurant Navrangpura Ahmedabad 380 009. Pan Aaacp 6747 J

losses of that year and subsequent years could be carried forward for set off against the income of those years before computing the deduction admissible u/s.80IA(iv). In the present cases, Assessing Officer has brought forward the depreciation

THE ACIT, CIRCLE-5,, AHMEDABAD vs. PARRY ENGINNERING & ELECTRONICS PVT.LTD.,, AHMEDABAD

In the result, appeals of the revenue are dismissed

Bench: Shri Pramod Kumar & Shri Rajpal Yadavसव"ी Izeksn Dqekj Izeksn Dqekj Izeksn Dqekj लेखा सद"य, एवं राजपाल यादव "या"यक सद"य के सम"। Izeksn Dqekj आयकर अपील सं./ Ita Nos. 1033 & 1034/Ahd/2015 "नधा"रण वष"/Assessment Years: 2010-11 & 2011-12 Income Tax Officer, Parry Engineering & Ward-3(1)(2), Vs Electronics Pvt. Ltd. Ahmedabad. B-608, Nirman Complex, Opp. Havmore Restaurant, Navrangpura, Ahmedabad. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacp 6747 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri Saurabh Singh, Sr.D.R. Assessee By : Shri G. C. Pipara, A.R.

losses of that year and subsequent years could be carried forward for set off against the income of those years before computing the deduction admissible u/s.80IA(iv). In the present ITA Nos.1033 & 1034/Ahd/2015 ITO vs. Parry Engineering and Electronics Pvt. Ltd. A.Ys. 2010-11 & 2011-12 - 13 – cases, Assessing Officer has brought forward the depreciation

THE ITO, WARD-5(2),, AHMEDABAD vs. PARRY ENGINNERING & ELECTRONICS PVT.LTD.,, AHMEDABAD

In the result, appeals of the revenue are dismissed

Bench: Shri Pramod Kumar & Shri Rajpal Yadavसव"ी Izeksn Dqekj Izeksn Dqekj Izeksn Dqekj लेखा सद"य, एवं राजपाल यादव "या"यक सद"य के सम"। Izeksn Dqekj आयकर अपील सं./ Ita Nos. 1033 & 1034/Ahd/2015 "नधा"रण वष"/Assessment Years: 2010-11 & 2011-12 Income Tax Officer, Parry Engineering & Ward-3(1)(2), Vs Electronics Pvt. Ltd. Ahmedabad. B-608, Nirman Complex, Opp. Havmore Restaurant, Navrangpura, Ahmedabad. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacp 6747 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri Saurabh Singh, Sr.D.R. Assessee By : Shri G. C. Pipara, A.R.

losses of that year and subsequent years could be carried forward for set off against the income of those years before computing the deduction admissible u/s.80IA(iv). In the present ITA Nos.1033 & 1034/Ahd/2015 ITO vs. Parry Engineering and Electronics Pvt. Ltd. A.Ys. 2010-11 & 2011-12 - 13 – cases, Assessing Officer has brought forward the depreciation