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

46 SOT 116 considered similar question. The head notes from the judgment reported in the above case reads as under: "Section 32 of the Income-tax Act, 1961 - Depreciation - Allowance/rate of - Assessment years 2002-03 to 2005-06 - Assessee- company was subsidiary of 'B' Ltd. which was doing business of Electricals & Projects contracting, like, erection of High Voltage Substations, Transmission

THE ACIT, CIRCLE-2(1)(1), AHMEDABAD vs. M/S. INTAS PHARMACEUTICALS LTD., 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

10/- each were issued to the shareholders of ILPL, and the 48,00,000 shares of ILPL held by the assessee were cancelled. As a result of this amalgamation, the assessee acquired all the assets and liabilities of ILPL and accounted for the excess of consideration over the net book value of assets as goodwill in its books of account

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

10/- each were issued to the shareholders of ILPL, and the 48,00,000 shares of ILPL held by the assessee were cancelled. As a result of this amalgamation, the assessee acquired all the assets and liabilities of ILPL and accounted for the excess of consideration over the net book value of assets as goodwill in its books of account

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

section 43(1) of the Act, the capital grant should be reduced from the cost/WDV of the relevant asset, and thereafter the depreciation is to be calculated. Thus, the capital grant receipt in respect of asset, on which depreciation is allowable at the rate different from 15% should be worked out as per the applicable rate. The DR could

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

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

section 43(1) of the Act, the capital grant should be reduced from the cost/WDV of the relevant asset, and thereafter the depreciation is to be calculated. Thus, the capital grant receipt in respect of asset, on which depreciation is allowable at the rate different from 15% should be worked out as per the applicable rate. The DR could

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

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

section 43(1) of the Act, the capital grant should be reduced from the cost/WDV of the relevant asset, and thereafter the depreciation is to be calculated. Thus, the capital grant receipt in respect of asset, on which depreciation is allowable at the rate different from 15% should be worked out as per the applicable rate. The DR could

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

section 43(1) of the Act, the capital grant should be reduced from the cost/WDV of the relevant asset, and thereafter the depreciation is to be calculated. Thus, the capital grant receipt in respect of asset, on which depreciation is allowable at the rate different from 15% should be worked out as per the applicable rate. The DR could

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

Appeal of the assessee is dismissed

46. Ground no. 3 reads as under: 3. Whether on the facts & circumstances of the case, the Ld CIT(A) was justified in allowing the Additional depreciation of Rs.26,41,911/-. I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 31 Kalpataru Power Transmission Ltd. . vs. DCIT 47. The issue relates to claim of additional depreciation

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

Appeal of the assessee is dismissed

46. Ground no. 3 reads as under: 3. Whether on the facts & circumstances of the case, the Ld CIT(A) was justified in allowing the Additional depreciation of Rs.26,41,911/-. I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 31 Kalpataru Power Transmission Ltd. . vs. DCIT 47. The issue relates to claim of additional depreciation

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

Appeal of the assessee is dismissed

46. Ground no. 3 reads as under: 3. Whether on the facts & circumstances of the case, the Ld CIT(A) was justified in allowing the Additional depreciation of Rs.26,41,911/-. I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 31 Kalpataru Power Transmission Ltd. . vs. DCIT 47. The issue relates to claim of additional depreciation

DY.DIRECTOR OF INCOME TAX, AHMEDABAD vs. MONARK EDUCATION TRUST,, AHMEDABAD

In the result, the appeal is dismissed

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread

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

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)

46 taxmann.com 314 (AP). Apart from the above, he further contended that w.e.f. 1-4-2018, a special provision has been enacted in the shape of section 115BBG which prescribe levy of tax at the rate of 10% on income from transfer of carbon credit. He took us through explanatory statement of Finance Act, 2017. 38. We have duly considered

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)

46 taxmann.com 314 (AP). Apart from the above, he further contended that w.e.f. 1-4-2018, a special provision has been enacted in the shape of section 115BBG which prescribe levy of tax at the rate of 10% on income from transfer of carbon credit. He took us through explanatory statement of Finance Act, 2017. 38. We have duly considered

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

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

10. Ground No.4:- Initiation of penalty proceedings under section 271(l)(c) of the I T Act. This Ground is only consequential in nature and does not require specific adjudication as the main case itself is set aside to the Assessing Officer for refresh consideration. 11. The Grounds of Appeal raised by the Revenue reads as under

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

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

10. Ground No.4:- Initiation of penalty proceedings under section 271(l)(c) of the I T Act. This Ground is only consequential in nature and does not require specific adjudication as the main case itself is set aside to the Assessing Officer for refresh consideration. 11. The Grounds of Appeal raised by the Revenue reads as under

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

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

10. Ground No.4:- Initiation of penalty proceedings under section 271(l)(c) of the I T Act. This Ground is only consequential in nature and does not require specific adjudication as the main case itself is set aside to the Assessing Officer for refresh consideration. 11. The Grounds of Appeal raised by the Revenue reads as under

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

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

10. Ground No.4:- Initiation of penalty proceedings under section 271(l)(c) of the I T Act. This Ground is only consequential in nature and does not require specific adjudication as the main case itself is set aside to the Assessing Officer for refresh consideration. 11. The Grounds of Appeal raised by the Revenue reads as under