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

depreciation claimed on goodwill is at higher valuation of existing assets and thereby why not this process be considered as Revaluation of existing assets? ITA No.281 and 222/Ahd/2021 8 9. Whether the CIT(A) has erred in law and on facts in deleting the addition of Rs.10,19,24,003/- on account of disallowance of adjustment relating to allocation

CREST SPECIALITY RESINS PRIVATE LIMITED,KHEDA, GUJARAT vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1)(2), AHMEDABAD (NOW DCIT, CIRCLE 1(1)(1), AHMEDABAD), AHMEDABAD, GUJARAT

In the result, the appeal of the assessee is allowed for both the years under consideration

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

depreciation on electrical items as electrical installation at the rate of 15%. Your appellant craves the right to add to or alter, amend, substitute, delete or modify all or any of the above grounds of appeal.” Ground Nos. 3 to 5 : Research and Development expenses under Section 35(2AB) of the Act 3. The brief facts of the case

ZYDUS LIFESCIENCES LTD.,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-2(1), AHMEDABAD

In the result, appeal filed by the assessee is partly allowed for statistical purposes

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), Ms. SUCHITRA KAMBLE (Judicial Member)

iv) as directed by the Hon'ble DRP vide their directions given under paras 5.3.4 and 5.3.5 of their order dated 28/06/2022. 10. That the learned Assessing Officer erred in law and on facts in making an addition of Rs. 92,54,99,404/- (Being 200% of Rs.46.27,49,702) by holding that the appellant was not entitled

CREST SPECIALITY RESINS PRIVATE LIMITED,KHEDA, GUJARAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1)(2), AHMEDABAD (NOW DCIT, CIRCLE 1(1)(1),AHMEDABAD), AHMEDABAD, GUJARAT

In the result, the appeal of the assessee is allowed for both the years under\nconsideration

depreciation on electrical items as electrical installation at the rate of\n15%.\n\nYour appellant craves the right to add to or alter, amend, substitute, delete or modify\nall or any of the above grounds of appeal.\n\nدو\n\nGround Nos.3 to 5 : Research and Development expenses under Section\n35(2AB) of the Act\n\n3. The brief facts

N.K. INDUSTRIES LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

35. Finding on facts that the term loans in question were taken for the purchase of capital assets from time to time and these amounts did not come into the ITA Nos. 442 & 443 n 447 & 448 Ahd 2023 Assessee: NK Industries Ltd (Cross Appeals) AYs : 2010-11 & 2013-14 - 26– possession of the assessee on account of any trading

THE DY.CIT, CIRCLE-3(1)(1)., AHMEDABAD vs. N.K. INDUSTRIES LTD., AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

35. Finding on facts that the term loans in question were taken for the purchase of capital assets from time to time and these amounts did not come into the ITA Nos. 442 & 443 n 447 & 448 Ahd 2023 Assessee: NK Industries Ltd (Cross Appeals) AYs : 2010-11 & 2013-14 - 26– possession of the assessee on account of any trading

N.K. INDUSTRIES LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

35. Finding on facts that the term loans in question were taken for the purchase of capital assets from time to time and these amounts did not come into the ITA Nos. 442 & 443 n 447 & 448 Ahd 2023 Assessee: NK Industries Ltd (Cross Appeals) AYs : 2010-11 & 2013-14 - 26– possession of the assessee on account of any trading

THE DY.CIT, CIRCLE-3(1)(1)., AHMEDABAD vs. N.K. INDUSTRIES LTD., AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

35. Finding on facts that the term loans in question were taken for the purchase of capital assets from time to time and these amounts did not come into the ITA Nos. 442 & 443 n 447 & 448 Ahd 2023 Assessee: NK Industries Ltd (Cross Appeals) AYs : 2010-11 & 2013-14 - 26– possession of the assessee on account of any trading

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

IV which relates to computation of Total Income as per ITR, whereas section 115JB is forming part of Chapter XII-B to which provisions of section 14A cannot be applied. Thus it may be appreciated that the title itself suggest the section provides for disallowance of expenses to be made while computing TOTAL INCOME. It is pertinent to note that

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

IV which relates to computation of Total Income as per ITR, whereas section 115JB is forming part of Chapter XII-B to which provisions of section 14A cannot be applied. Thus it may be appreciated that the title itself suggest the section provides for disallowance of expenses to be made while computing TOTAL INCOME. It is pertinent to note that

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

IV which relates to computation of Total Income as per ITR, whereas section 115JB is forming part of Chapter XII-B to which provisions of section 14A cannot be applied. Thus it may be appreciated that the title itself suggest the section provides for disallowance of expenses to be made while computing TOTAL INCOME. It is pertinent to note that

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

IV which relates to computation of Total Income as per ITR, whereas section 115JB is forming part of Chapter XII-B to which provisions of section 14A cannot be applied. Thus it may be appreciated that the title itself suggest the section provides for disallowance of expenses to be made while computing TOTAL INCOME. It is pertinent to note that

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE DY.CIT.,CRCLE-8,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

35. The learned AR before us contended that the net interest income should only be excluded from the profit eligible for deduction under section 80-IA of the Act. 36. On the other hand the learned DR vehemently supported the order of the authorities below. ITA Nos.722,218&1306/Ahd/2014 & ITA No. 1345/Ahd/2015 A.Ys

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE ACIT(OSD) CIRCLE-8, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

35. The learned AR before us contended that the net interest income should only be excluded from the profit eligible for deduction under section 80-IA of the Act. 36. On the other hand the learned DR vehemently supported the order of the authorities below. ITA Nos.722,218&1306/Ahd/2014 & ITA No. 1345/Ahd/2015 A.Ys

THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1) (1),, AHMEDABAD vs. M/S. INTAS PHARMACEUTICALS PVT. LTD.,, AHMEDABAD

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

section 35(1)(iv) of the Act (relating to expenditure incurred during the year on intangibles and accounted under capital work in progress on which no depreciation

THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1) (1),, AHMEDABAD vs. M/S. INTAS PHARMACEUTICALS PVT. LTD.,, AHMEDABAD

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

section 35(1)(iv) of the Act (relating to expenditure incurred during the year on intangibles and accounted under capital work in progress on which no depreciation

INTAS PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

section 35(1)(iv) of the Act (relating to expenditure incurred during the year on intangibles and accounted under capital work in progress on which no depreciation

INTAS PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

section 35(1)(iv) of the Act (relating to expenditure incurred during the year on intangibles and accounted under capital work in progress on which no depreciation

INTAS PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

section 35(1)(iv) of the Act (relating to expenditure incurred during the year on intangibles and accounted under capital work in progress on which no depreciation