INTAS PHARMACEUTICALS LTD.,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1), AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

34 section 32(1)(ii) read with Explanation 3(b) and relying on the binding precedent of the Hon’ble Supreme Court in CIT v. Smifs Securities Ltd. [(2012) 348 ITR 302 (SC)], held that such goodwill constitutes an intangible asset eligible for depreciation under the Act. We find the reasoning adopted by the Co-ordinate Bench in Suzlon Energy

HAGGLUNDS DRIVES (INDIA) PVT. LTD. ( NOW MERGED IN BOSCH REXROTH (INDIA) LTD.),,AHMEDABAD vs. THE DY.CIT, CIRCLE-1(1)(2),, AHMEDABAD

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

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

10,417/- in relation to international transaction of payment of guarantee fees to AE 26. The brief facts in relation of this Ground of Appeal pertains to the determination of the arm's length price for guarantee fees at 'Nil' in connection with the international transactions of the assessee company. In the financial year 2010-11, the assessee secured

BOSCH REXROTH (INDIA) PVT. LTD.,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(1)(3), AHMEDABAD

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

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

10,417/- in relation to international transaction of payment of guarantee fees to AE 26. The brief facts in relation of this Ground of Appeal pertains to the determination of the arm's length price for guarantee fees at 'Nil' in connection with the international transactions of the assessee company. In the financial year 2010-11, the assessee secured

THE DCIT, (OSD), CIRCLE-8,, AHMEDABAD vs. M/S. V. F. ARVIND BRANDS PRIVATE LIMITED, AHMEDABAD

In the result, the appeal of the Revenue is dismissed, and the CO of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.1904/Ahd/2013 & Cross Objection No. 204/Ahd/2013 (In Ita No.1904/Ahd/2013) िनधा"रण वष"/Assessment Year : 2008-09 D.C.I.T.(Osd), M/S. V. F. Arvind Brands Pvt. Circle-8, Vs. Ltd. Ahmedabad. Arvind Mills Premises, Naroda Road, Ahmedabad-380025. Pan: Aaccv 2727 L (Applicant) (Responent) / Cross Objector

10. Narayan Apparels Pvt. Ltd. 1% 3,013,344 11. White Horse Fashions 1% 2,967,453 12. Prathiba Fashions 1% 2,371,271 Arvind Brands Pvt. Ltd. vs. DCIT(OSD) Asstt. Year 2008-09 24 13. Sonetra Garments 1% 2,191,295 14. Amrutha Creation 1% 1,612,715 15. A. R. Kolor Kraft

THE DCIT, CIRCLE-1(1), NOW CIRCLE-1(1)(1),, VADODARA vs. GUJARAT ENERGY TRANSMISSION CORPN. LTD.,, VADODARA

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

34,2267-, aggregating to Rs. 176,62,04,718/-. As these grants were towards cost of capital assets, 15% of the same should have been reduced from the depreciation claimed on account of making adjustment in the 'actual cost' of assts as per Explanation 10 below section

GUJARAT ENERGY TRANSMISSION CORPN.LTD.,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

34,2267-, aggregating to Rs. 176,62,04,718/-. As these grants were towards cost of capital assets, 15% of the same should have been reduced from the depreciation claimed on account of making adjustment in the 'actual cost' of assts as per Explanation 10 below section

THE DCIT, CIRCLE-1(1), NOW CIRCLE-1(1)(1),, VADODARA vs. GUJARAT ENERGY TRANSMISSION CORPN. LTD.,, VADODARA

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

34,2267-, aggregating to Rs. 176,62,04,718/-. As these grants were towards cost of capital assets, 15% of the same should have been reduced from the depreciation claimed on account of making adjustment in the 'actual cost' of assts as per Explanation 10 below section

GUJARAT ENERGY TRANSMISSION CORPN.LTD.,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

34,2267-, aggregating to Rs. 176,62,04,718/-. As these grants were towards cost of capital assets, 15% of the same should have been reduced from the depreciation claimed on account of making adjustment in the 'actual cost' of assts as per Explanation 10 below section

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

10(34) of the Act. The assessee further claimed that it had not incurred any expenditure to earn such dividend income. Moreover the investment was also not made from borrowed fund. Therefore the interest expenditure was not incurred against such dividend income. 12.1 However the AO disregarded the contention by observing that the assessee must have incurred expenditure such

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

10(34) of the Act. The assessee further claimed that it had not incurred any expenditure to earn such dividend income. Moreover the investment was also not made from borrowed fund. Therefore the interest expenditure was not incurred against such dividend income. 12.1 However the AO disregarded the contention by observing that the assessee must have incurred expenditure such

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

10(34) of the Act. The assessee further claimed that it had not incurred any expenditure to earn such dividend income. Moreover the investment was also not made from borrowed fund. Therefore the interest expenditure was not incurred against such dividend income. 12.1 However the AO disregarded the contention by observing that the assessee must have incurred expenditure such

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

Appeal of the assessee is dismissed

depreciation in the earlier assessment year since the machinery was used for less than 180 days and I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 34 Kalpataru Power Transmission Ltd. . vs. DCIT claiming the balance 10% in the year under consideration. Section

KALPATARU POWER TRANSMISSION LTD.,,GANDHINAGAR vs. THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the assessee is dismissed

depreciation in the earlier assessment year since the machinery was used for less than 180 days and I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 34 Kalpataru Power Transmission Ltd. . vs. DCIT claiming the balance 10% in the year under consideration. Section

KALPATARU POWER TRANSMISSION LTD.,,GANDHINAGAR vs. THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the assessee is dismissed

depreciation in the earlier assessment year since the machinery was used for less than 180 days and I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 34 Kalpataru Power Transmission Ltd. . vs. DCIT claiming the balance 10% in the year under consideration. Section

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)

depreciation on TO plant). In this note, we have given the background of the carbon credits and how the carbon credits are received in the case of our Company. We had also explained the procedure of generation of carbon credits and steps taken and involved in receipt of such carbon credits. Thus, the carbon credits are issued

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)

depreciation on TO plant). In this note, we have given the background of the carbon credits and how the carbon credits are received in the case of our Company. We had also explained the procedure of generation of carbon credits and steps taken and involved in receipt of such carbon credits. Thus, the carbon credits are issued

J vs. INDUSTRIES PVT. LTD.,VADODARAVS.THE PR. CIT, VADODARA-1, VADODARA

In the result, the appeal of the assessee is dismissed

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

10. The learned PCIT erred in fact and in law in setting aside the assessment order passed u/s 143(3) of the Act for verifying the claim of depreciation-on goodwill recognized on acquisition of business without appreciating the fact that the AO during the course of assessment proceedings has allowed depreciation after proper verification of the facts on record

SUN PHARMACEUTICAL INDUSTRIES,MUMBAI vs. JCIT 20(3), MUMBAI

In the result appeal of the Revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

depreciation of plant and machinery used by Sun Pharma Industries & M/s. Sun Pharma Sikkim. III(a) On the facts and circumstances of the case and in law, the Ld. C.I.T.(A) erred in deleting, the disallowance of deduction u/s 80IE(6) r.w.s. 80IA(10) on apportionment of selling and distribution expenses of Rs.182,57,00,000/- incurred by the working

SUN PHARMACEUTICALS INDUSTRIES LIMITED,,VADODARA vs. THE ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1), BARODA

In the result, the appeal of the Revenue is partly allowed

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

10(2A) defines such income as the share of profit of a partner from the partnership firm, the language is clear and unambiguous and needs no other insertion or deletion. The remuneration to partner may have the color of appropriation of profit of a partnership firm as held by the Hon’ble Supreme Court and Hon’ble High Courts