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23 results for “depreciation”+ Section 43Aclear

Sorted by relevance

Delhi171 Mumbai143 Chennai95 Bangalore49 Kolkata31 Ahmedabad23 Hyderabad10 SC8 Indore5 Surat5 Karnataka2 Pune2 Telangana2 Guwahati2 Dehradun2 Cochin2 Kerala1 Orissa1 Chandigarh1

Key Topics

Section 80I43 Section 14A35 Disallowance21 Section 143(3)20 Addition to Income19 Section 143(2)16 Deduction12 Section 37(1)7 Section 271(1)(c)6

THE DCIT, CIRCLE-4(1)(1), AHMEDABAD vs. SINTEX INDUSTRIES LTD.,, AHMEDABAD

Appeal of the Revenue is dismissed

ITA 1477/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad25 Mar 2022AY 2015-16

For Appellant: Shri Ajai Pratap Singh, CIT/D.RFor Respondent: Ms. Amrin Pathan, A.R

Section 10(34)Section 115JSection 14ASection 250(6)Section 263

section 43A for the purposes of depreciation [Sections 32 and 43(1)]. A perusal of section 43A makes it clear

UNIMED TECHNOLOGIES LIMITED,PANCHMAHAL vs. THE ACIT, CIRCLE-2(1)(1), VADODARA

Showing 1–20 of 23 · Page 1 of 2

Section 142(1)5

Section 271(1)(b)4

ITA 623/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad24 Jul 2025AY 2016-17

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2016-17 Unimed Technologies Limited Acit, Cir.2(1)(1) Survey No.22 & 22, Vs. Vadodara. Baska, Ujeti Halol Panchmahal Pan : Aaace 4022 B Asstt.Year : 2016-17 Acit, Cir.2(1)(1) Unimed Technologies Limited Vadodara. Vs. Survey No.22 & 22, Baska, Ujeti Halol Panchmahal Pan : Aaace 4022 B (Applicant) (Responent) : Shri Bandish Soparkar, Ar Assessee By : Shri Sher Singh, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 17/07/2025 घोषणा क" तारीख /Date Of Pronouncement: 24/07/2025 आदेश आदेश/O R D E R आदेश आदेश

For Appellant: Shri Sher Singh, CIT-DR

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 234BSection 250Section 271(1)(b)Section 271(1)(c)Section 36(1)(iii)Section 37(1)

depreciation under section 32 in respect of such capitalised expenditure was not specifically adjudicated in the CIT(A)’s order. 17.4 The learned AR, reiterating the detailed submissions made before the lower authorities, submitted that the appellant had incurred a net foreign exchange fluctuation loss of ₹2.71 crores during the year under ITA No.623 and 632/Ahd/2024 18 consideration

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), VADODARA, RACE COURSE vs. UNIMED TECHNOLOGIES LIMITED, HALOL

Accordingly dismissed.\n18.9 Based on the findings and conclusions set out hereinabove, the\nappeal filed by the Revenue stands dismissed, whereas the appeal filed by\nthe assessee is partly allowed

ITA 632/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad24 Jul 2025AY 2016-17

For Appellant: \nShri Bandish Soparkar, ARFor Respondent: \nShri Sher Singh, CIT-DR

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 234BSection 271(1)(b)Section 271(1)(c)Section 36(1)(iii)Section 37(1)

depreciation under section 32 in respect\nof such capitalised expenditure was not specifically adjudicated in the\nCIT(A)'s order.\n17.4 The learned AR, reiterating the detailed submissions made before the\nlower authorities, submitted that the appellant had incurred a net foreign\nexchange fluctuation loss of ₹2.71 crores during the year under\nconsideration, out of which ₹2.78 crores pertained

INTAS BIOPHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX, R-2(1)(1),, AHMEDABAD

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 1035/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad12 Feb 2025AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Makarand Vasant Mahadeokarassessment Year: 2012-13

Section 14ASection 35Section 43B

Section 43A provides that any increase or decrease in liability due to foreign exchange fluctuation in respect of the acquisition of a capital asset is to be adjusted to the actual cost of the asset and depreciation

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2 1 1 , VADODARA, VADODARA vs. UNIMED TECHNOLOGIES LIMITED, PANCHMAHAL

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

ITA 279/AHD/2026[2016-17]Status: DisposedITAT Ahmedabad03 Mar 2026AY 2016-17

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

Section 143(3)Section 271Section 271(1)(c)Section 43A

Section 43A of the Act will not be applicable, since it only an advance payment made by the assessee for purchase of machinery from outside India. Thus a wrong claim would not amount to concealment of income. 8.1. Co-ordinate Bench of this Tribunal in the case of Microsoft Corporation (India) (P.) Ltd. on the very same issue of Foreign

HYDERABAD YADGIRI TOLLWAY PRIVATE LIMITED,AHMEDABAD vs. THE PR.CIT-1, AHMEDABAD

The appeal of the assessee is dismissed

ITA 1332/AHD/2025[2018-19]Status: DisposedITAT Ahmedabad30 Oct 2025AY 2018-19

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaassessment Year: 2018-19

Section 143Section 143(3)Section 263Section 43A

43A of the Act was not applicable. According to the Ld. AR, the provisions of Section 43AA of the Act was applicable in this case. Further, that the provisions of ICDS was made applicable w.e.f. A.Y. 2017-18 only. He submitted that the exchange difference arising on Long Term foreign currency monetary items relating to the acquisition of depreciable

THE DCIT, CIRCLE-1(1)(1), VADODARA vs. GULBRANDSEN CHEMICALS PVT. LTD, VADODARA

In the result, the appeal filed by the revenue is hereby dismissed

ITA 559/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad11 May 2022AY 2011-12

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 559/Ahd/2020 िनधा"रण वष"/Asstt. Years: 2011-12 D.C.I.T., Gulbrandsen Chemicals Pvt. Ltd, Circle-1(1)(1), Vs. On Coastal Highway, Vadodara. Mujpur, Tal. Padra, Vadodara.

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Aarsi Prasad, CIT.D.R

Section 92Section 92CSection 92C(2)

depreciation claimed on the ground that the cost of plant and machinery was required to be reduced, despite the said addition was in consonance to the provisions of section 43A

CLP WIND FARMS (INDIA) PVT. LTD.,AHMEDABAD vs. DCIT CIRCLE-1(1)(2),, AHMEDABAD

Appeal of the assessee is allowed

ITA 1110/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad31 Aug 2022AY 2014-15

For Appellant: Shri S. N. Soparkar Sr. AdvFor Respondent: Shri Alokkumar, CIT/D.R

Section 250(6)Section 37(1)

43A, prescribes the adjustments on account of foreign exchange fluctuations to be made to the cost of fixed assets purchased outside India which requires payment to be made in foreign exchange. Explanation 3 to the said section requires cost of such assets to be computed with reference to the rate agreed in the foreign exchange forward contracts if any entered

CLP WIND FARMS (INDIA) PVT. LTD.,NEW DELHI vs. DCIT CIRCLE-1(1)(2),, AHMEDABAD

Appeal of the assessee is allowed

ITA 1605/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad31 Aug 2022AY 2015-16

For Appellant: Shri S. N. Soparkar Sr. AdvFor Respondent: Shri Alokkumar, CIT/D.R

Section 250(6)Section 37(1)

43A, prescribes the adjustments on account of foreign exchange fluctuations to be made to the cost of fixed assets purchased outside India which requires payment to be made in foreign exchange. Explanation 3 to the said section requires cost of such assets to be computed with reference to the rate agreed in the foreign exchange forward contracts if any entered

CLP WIND FARMS (INDIA) PVT. LTD.,NEW DELHI vs. DCIT CIRCLE-1(1)(2),, AHMEDABAD

Appeal of the assessee is allowed

ITA 1606/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad31 Aug 2022AY 2016-17

For Appellant: Shri S. N. Soparkar Sr. AdvFor Respondent: Shri Alokkumar, CIT/D.R

Section 250(6)Section 37(1)

43A, prescribes the adjustments on account of foreign exchange fluctuations to be made to the cost of fixed assets purchased outside India which requires payment to be made in foreign exchange. Explanation 3 to the said section requires cost of such assets to be computed with reference to the rate agreed in the foreign exchange forward contracts if any entered

KHURANA ENGINEERING LTD.,,AHMEDABAD vs. THE ACIT.(OSD),CIRCLE-1,, AHMEDABAD

ITA 2357/AHD/2011[2008-09]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2008-09

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

THE ACIT, PATAN CIRCLE,, PATAN vs. AJAY ENGINEERING INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

ITA 2118/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2009-10

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

THE DY. CIT, PATAN CIRCLE,, PATAN vs. AJAY ENGINEERING INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

ITA 2302/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2010-11

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

THE DY. CIT, PATAN CIRCLE,, PATAN vs. AJAY ENGINEERING INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

ITA 2303/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2011-12

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

THE DY.COMMISSIONER OF INCOME TAX, PATAN CIRCLE,, PATAN vs. AJAY ENGG. INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

ITA 1231/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2013-14

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

THE DY. CIT, PATAN CIRCLE,, PATAN vs. AJAY ENGINEERING INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

ITA 1621/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2014-15

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

THE ACIT.(OSD), CIRCLE-1,, AHMEDABAD vs. KHURANA ENGINEERING LTD.,, AHMEDABAD

ITA 2308/AHD/2011[2007-08]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2007-08

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

THE ACIT.(OSD), CIRCLE-1,, AHMEDABAD vs. KHURANA ENGINEERING LTD.,, AHMEDABAD

ITA 2352/AHD/2011[2008-09]Status: DisposedITAT Ahmedabad19 Apr 2024AY 2008-09

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

For Appellant: Sh. S.N. Soparkar, Sr. Advocate & Sh. ParinFor Respondent: Sh. Chetram Meena, Sr. DR

Section 143(2)Section 143(3)Section 80I

43a[or clause (vi)]] of sub-section (4)] which fulfils all the following conditions, namely :— (i) it is not formed by splitting up, or the reconstruction, of a business already in existence : Provided that this condition shall not apply in respect of an 44[undertaking] which is formed as a result of the re-establishment, reconstruction or revival

ADANI PETRONET( DAHEJ) PORT PVT. LTD.,,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), AHMEDABAD

In the result, the appeal of the Revenue for AY 2014-15 and CO of the assessee for AY 2013-14 are treated as partly allowed

ITA 1398/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad31 May 2022AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2012-13 Adani Petronet (Dahej) Port The Dy. Commissioner Of Pvt. Ltd., Vs Income-Tax, 9Th Floor, Shikhar Building, Circle 1(1)(1), Nr. Mithakali Circle, Ahmedabad Navrangpura, Ahmedabad-380009 Pan: Aaeca 5046 R Assessment Year : 2012-13 The Dy. Commissioner Of Adani Petronet (Dahej) Port Income-Tax, Vs Pvt. Ltd., Circle 1(1)(1), Ahmedabad-380009 Ahmedabad Pan: Aaeca 5046 R

For Appellant: Shri Vartik Chokshi, AR &For Respondent: Shri Mudit Nagpal, CIT-DR

section 145(2) of the Act. Thus, while the assessee is at liberty to follow it in its books, for Income Tax purposes it ought to have added back the ITA Nos.1470, 1792 & 2045/Ahd/2018 (D) ITA No. 1398/Ahd/18, CO Nos. 88&89/Ahd/2019 (A) Assessee : Adani Petronet (Dahej) Port Ltd. AYs : 2012-13, 2013-14 & 2014-15 10 contingent liability

THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), AHMEDABAD vs. ADANI PETRONET( DAHEJ) PORT PVT. LTD.,, AHMEDABAD

In the result, the appeal of the Revenue for AY 2014-15 and CO of the assessee for AY 2013-14 are treated as partly allowed

ITA 1470/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad31 May 2022AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2012-13 Adani Petronet (Dahej) Port The Dy. Commissioner Of Pvt. Ltd., Vs Income-Tax, 9Th Floor, Shikhar Building, Circle 1(1)(1), Nr. Mithakali Circle, Ahmedabad Navrangpura, Ahmedabad-380009 Pan: Aaeca 5046 R Assessment Year : 2012-13 The Dy. Commissioner Of Adani Petronet (Dahej) Port Income-Tax, Vs Pvt. Ltd., Circle 1(1)(1), Ahmedabad-380009 Ahmedabad Pan: Aaeca 5046 R

For Appellant: Shri Vartik Chokshi, AR &For Respondent: Shri Mudit Nagpal, CIT-DR

section 145(2) of the Act. Thus, while the assessee is at liberty to follow it in its books, for Income Tax purposes it ought to have added back the ITA Nos.1470, 1792 & 2045/Ahd/2018 (D) ITA No. 1398/Ahd/18, CO Nos. 88&89/Ahd/2019 (A) Assessee : Adani Petronet (Dahej) Port Ltd. AYs : 2012-13, 2013-14 & 2014-15 10 contingent liability