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. In the present case, the ITA No.281 and 222/Ahd/2021 37 goodwill represents the expected future economic benefits arising from business consolidation, synergy, and operational continuity — all recognized aspects of goodwill under law. Revised Ground No. 7: 65. The Department seeks to apply Explanation 7 to section 43(1), sixth proviso to section 32(1), section

ACIT CENTRAL CIRCLE 2(3), AHMEDABAD vs. INTAS PHARMACEUTICALS LIMITED, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Ms. Suchitra R. Kamble & Shri Narendra Prasad Sinhaasst. Commissioner Of M/S. Intas Pharmaceuticals Ltd., Vs. Income-Tax, Corporate House, S.G. Highway, Central Circle 2(3), Nr. Sola Bridge, Thaltej, Ahmedabad Ahmedabad-380 054 [Pan : Aaaci 5120 L] (Appellant) .. (Respondent) Appellant Represented By : Shri Sher Singh, Cit (Dr) Respondent Represented By: Shri S. N. Soparkar, Sr. Advocate & Ms. Urvashi Sodhan, Ar Date Of Hearing 07.01.2026 Date Of Pronouncement 24.02.2026 O R D E R Per Ms. Suchitra R. Kamble:-

depreciation. In the present case, the goodwill represents the expected future economic benefits arising from business consolidation, synergy, and operational continuity — all recognized aspects of goodwill under law. Revised Ground No. 7: 65. The Department seeks to apply Explanation 7 to section 43(1), sixth proviso to section 32(1), section 49(1)(iii)(e), and Explanation 2 to section

MAXXIS RUBBER INDIA PVT. LTD.,AHMEDABAD vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar

66,02,772/-. The balance additional depreciation of Rs.156,00,22,181/- was carried forward to be claimed in assessment year 2018-19 as per the third proviso to section

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

66. The aggrieved assessee preferred an appeal to the Ld. CIT-A. 67. The assessee before Ld. CIT-A submitted that outstanding amount relates to purchase of motor car. Therefore, the provision of Section 41(1) will not apply as the same is capital in nature. Further, the provision of Section 41(1) are not applicable to the amount

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

66. The aggrieved assessee preferred an appeal to the Ld. CIT-A. 67. The assessee before Ld. CIT-A submitted that outstanding amount relates to purchase of motor car. Therefore, the provision of Section 41(1) will not apply as the same is capital in nature. Further, the provision of Section 41(1) are not applicable to the amount

ATUL LIMITED,,AHMEDABAD vs. THE DY.CIT (OSD), RANGE-1,, AHMEDABAD

The appeal are dismissed

Bench: Us, Ld. Counsel For The Assessee Took Us Through The Chronology Of Events Leading To The Rectification Order Passed U/S. 154 Of The Act ,Which Was Carried In Appeal Before The Ld. Cit(A) Who Dismissed The Same & Against Which The Assessee Has Come Up In Appeal Before Us. Ld. Counsel For The

66,83,892/- 3)6xpenditure disallowed U/S.14A as per para 6 14,00,410/- 4) Irrecoverable balance written off as per para 7 16,26,668/- 5) Bad as per para 8 7,61,883/- Rs. 5,75,53,262/- Revised business income: Rs. 1,94,97,014/- Short term capital gain Rs. 1,78,55,920/- Income from House

DIAMINES AND CHEMICALS LIMITED,,BARODA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, BARODA

In the result, appeal filed by the Assessee in ITA No

section 263 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) by the Ld. Principal Commissioner of Income Tax, Vadodara-1, and another order dated 13.10.2016 passed by the Commissioner of Income Tax I.T.A No. 1472/Ahd/2015 & 219/Ahd/2017 A.Y. 2010-11 Page No 2 Diamines & Chemicals Ltd. vs. DCIT (Appeals)-1, Vadodara giving effect to the revision order

DIAMINES & CHEMICALS LTD.,,BARODA vs. THE PR. CIT- 1, BARODA

In the result, appeal filed by the Assessee in ITA No

section 263 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) by the Ld. Principal Commissioner of Income Tax, Vadodara-1, and another order dated 13.10.2016 passed by the Commissioner of Income Tax I.T.A No. 1472/Ahd/2015 & 219/Ahd/2017 A.Y. 2010-11 Page No 2 Diamines & Chemicals Ltd. vs. DCIT (Appeals)-1, Vadodara giving effect to the revision order

THE ACIT, CIRCLE-1(1)(1), VADODARA vs. DAKSHIN GUJARAT VIJ COMPANY LTD., SURAT

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

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 115JB of the IT Act despite the fact that in all the earlier years the additions have been deleted. 2.0 The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in confirming that the appellant is not eligible for additional depreciation amounting to Rs.49,52,66

THE ACIT, CIRCLE-1(1)(1), VADODARA vs. DAKSHIN GUJARAT VIJ COMPANY LTD., SURAT

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

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 115JB of the IT Act despite the fact that in all the earlier years the additions have been deleted. 2.0 The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in confirming that the appellant is not eligible for additional depreciation amounting to Rs.49,52,66

DAKSHIN GUJARAT VIJ COMPANY LIMITED,SURAT vs. THE DY. CIT, CIRCLE-1(1)(1), VADODARA

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

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 115JB of the IT Act despite the fact that in all the earlier years the additions have been deleted. 2.0 The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in confirming that the appellant is not eligible for additional depreciation amounting to Rs.49,52,66

DAKSHIN GUJARAT VIJ COMPANY LIMITED,SURAT vs. THE DY. CIT, CIRCLE-1(1)(1), VADODARA

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

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 115JB of the IT Act despite the fact that in all the earlier years the additions have been deleted. 2.0 The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in confirming that the appellant is not eligible for additional depreciation amounting to Rs.49,52,66

N K PROTEINS PVT. LIMITED,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE- 3(1)(1), AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

section 236 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) carried out in a recognised stock exchange;] shall not be deemed to be a speculative transaction. ITA Nos. 464 & 546/Ahd/2022 Assessee- NK Proteins Ltd Asst. Year : 2012-13 - 15– The provisions of said Act are squarely applicable to the facts of the instant case, hence the same cannot

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. N K PROTEINS PRIVATE LIMITED, AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

section 236 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) carried out in a recognised stock exchange;] shall not be deemed to be a speculative transaction. ITA Nos. 464 & 546/Ahd/2022 Assessee- NK Proteins Ltd Asst. Year : 2012-13 - 15– The provisions of said Act are squarely applicable to the facts of the instant case, hence the same cannot

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

depreciation and secondly by way of claiming the deduction of the original cost of acquisition of the membership card under Section 55(2)(ab) of the Act. But the issue before us is limited to the cost of acquisition of the membership card as provided under section 55(2)(ab) of the Act. As per this section, the original cost

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS FINANCIAL ADVISORS LTD., ( FORMERLY KNOWN ANAGRAM STOCK BROKING LTD.,), AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

depreciation and secondly by way of claiming the deduction of the original cost of acquisition of the membership card under Section 55(2)(ab) of the Act. But the issue before us is limited to the cost of acquisition of the membership card as provided under section 55(2)(ab) of the Act. As per this section, the original cost

M/S. EDELWEISS BROKING LTD. ( AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.),AHMEDABAD vs. THE JT. CIT, RANGE-3,, AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

depreciation and secondly by way of claiming the deduction of the original cost of acquisition of the membership card under Section 55(2)(ab) of the Act. But the issue before us is limited to the cost of acquisition of the membership card as provided under section 55(2)(ab) of the Act. As per this section, the original cost

THE DY..DIRECTOR OF INCOME TAX(EXEMPTION),, AHMEDABAD vs. GUJARAT CRICKET ASSOCIATION, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2007-

Bench: Us. It Is, Accordingly, Dismissed For Want Of Prosecution.

depreciation as well. 24. Respectfully following the esteemed views of Hon’ble Supreme Court, we approve the conclusions arrived at by the CIT(A), which are in consonance with the aforesaid decision, and decline to interfere in the matter. 25. Ground nos. (i) to (iv) are thus dismissed. 26. In ground no. (v) the Assessing Officer has raised the following

GUJARAT CRICKET ASSOCIATION,AHMEDABAD vs. THE ASSTT.DIRECTOR OF INCOME TAX(EXEMPTION),, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2007-

Bench: Us. It Is, Accordingly, Dismissed For Want Of Prosecution.

depreciation as well. 24. Respectfully following the esteemed views of Hon’ble Supreme Court, we approve the conclusions arrived at by the CIT(A), which are in consonance with the aforesaid decision, and decline to interfere in the matter. 25. Ground nos. (i) to (iv) are thus dismissed. 26. In ground no. (v) the Assessing Officer has raised the following