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340 results for “depreciation”+ Section 79clear

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Key Topics

Section 143(3)73Disallowance73Addition to Income69Section 14A56Depreciation52Deduction48Section 80I47Section 43B28Section 115J28Section 80

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

Accordingly, this ground raised by the Revenue is dismissed

ITA 222/AHD/2021[2015-16]Status: DisposedITAT Ahmedabad21 May 2025AY 2015-16

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

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 144CSection 14ASection 35Section 36(1)(iii)Section 37

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Section 143(2)19
Transfer Pricing19
Section 92C

depreciation on goodwill. The facts have been thoroughly verified, the legal position is supported by binding precedents, and the Revenue has failed to demonstrate that the transaction lacks commercial substance or that the claim falls afoul of any specific bar under the Act. All the revised grounds of appeal raised by the Revenue stand rejected. Original Ground

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

Accordingly, this ground raised by the Revenue is dismissed

ITA 281/AHD/2021[2015-16]Status: DisposedITAT Ahmedabad21 May 2025AY 2015-16

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

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 144CSection 14ASection 35Section 36(1)(iii)Section 37Section 92C

depreciation on goodwill. The facts have been thoroughly verified, the legal position is supported by binding precedents, and the Revenue has failed to demonstrate that the transaction lacks commercial substance or that the claim falls afoul of any specific bar under the Act. All the revised grounds of appeal raised by the Revenue stand rejected. Original Ground

M/S. CLP POWER PVT. LTD.,,AHMEDABAD vs. THE DY.CIT.,(OSD), RANGE-1,, AHMEDABAD

In the result, appeal of the assessee is allowed

ITA 1123/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad23 Apr 2018AY 2011-12

Bench: Shri S.S. Godara & Shri Pradip Kumar Kediaआयकर अपील सं./I.T.A. No.1123/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2011-12 )

For Appellant: P.M. Mehta, ARsFor Respondent: Shri Prasoon Kabra, Sr.DR
Section 263Section 79

depreciation allowance for set off against the future income. During the year, the Assessee Company transferred its holding of shares, in favour of GPEC Ltd., a fellow subsidiary of ultimate holding company CLP Holding Ltd., Hong Kong on 31-3-2011. As per the provisions of Section 79

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE DCIT., CIRCLE-1(1)(1),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 440/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad30 Jul 2019AY 2014-15

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

For Appellant: Shri P.F. Jain, A.RFor Respondent: Shri S.K. Dev, Dr. D.R
Section 10B

section rule 8D of Income Tax Rule. Accordingly, we confirm the disallowance of administrative expenses made by the authorities below. Hence the ground of appeal of the assessee is partly allowed. The second ground raised by the assessee is that ''Ld.CIT (A)'' erred in upholding the disallowance of Depreciation of Rs.1,79

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE ACIT., CIRCLE-1(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 438/AHD/2018[2008-09]Status: DisposedITAT Ahmedabad30 Jul 2019AY 2008-09

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

For Appellant: Shri P.F. Jain, A.RFor Respondent: Shri S.K. Dev, Dr. D.R
Section 10B

section rule 8D of Income Tax Rule. Accordingly, we confirm the disallowance of administrative expenses made by the authorities below. Hence the ground of appeal of the assessee is partly allowed. The second ground raised by the assessee is that ''Ld.CIT (A)'' erred in upholding the disallowance of Depreciation of Rs.1,79

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE ACIT., CIRCLE-1, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 439/AHD/2018[2009-10]Status: DisposedITAT Ahmedabad30 Jul 2019AY 2009-10

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

For Appellant: Shri P.F. Jain, A.RFor Respondent: Shri S.K. Dev, Dr. D.R
Section 10B

section rule 8D of Income Tax Rule. Accordingly, we confirm the disallowance of administrative expenses made by the authorities below. Hence the ground of appeal of the assessee is partly allowed. The second ground raised by the assessee is that ''Ld.CIT (A)'' erred in upholding the disallowance of Depreciation of Rs.1,79

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

In the result, appeal of the assessee is partly allowed

ITA 722/AHD/2014[2000-01]Status: DisposedITAT Ahmedabad28 Jan 2022AY 2000-01

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

Section 143Section 143(3)Section 145ASection 147Section 148Section 43BSection 80I

79. However, the AO disregarded the contention of the assessee by observing that machines/fixed assets used in unit No. 1 have not been used for the purpose of the business. As per the AO, the use of the fix assets was 1 of the precondition for claiming the depreciation on these assets. Accordingly, the AO disallowed the depreciation claimed

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

In the result, appeal of the assessee is partly allowed

ITA 1345/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad28 Jan 2022AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

Section 143Section 143(3)Section 145ASection 147Section 148Section 43BSection 80I

79. However, the AO disregarded the contention of the assessee by observing that machines/fixed assets used in unit No. 1 have not been used for the purpose of the business. As per the AO, the use of the fix assets was 1 of the precondition for claiming the depreciation on these assets. Accordingly, the AO disallowed the depreciation claimed

NIRMA LIMITED,,AHMEDABAD vs. DCIT, CIRCLE-3(1)(1),, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 516/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2014-15

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

Section 32 of the Act. In the circumstances, before the High Court, the Revenue did not file an appeal on the finding of fact referred to hereinabove. For the afore-stated reasons, we answer Question No. [b] also in favour of the assessee." It can be seen from the above referred finding of Hon’ble Supreme Court the main argument

M/S. NIRMA LIMITED,,AHMEDABAD vs. THE DCIT, CIRCLE-3(1)(1),, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2008/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

Section 32 of the Act. In the circumstances, before the High Court, the Revenue did not file an appeal on the finding of fact referred to hereinabove. For the afore-stated reasons, we answer Question No. [b] also in favour of the assessee." It can be seen from the above referred finding of Hon’ble Supreme Court the main argument

JT. CTI (OSD), CIRCLE-3(1)(1),, AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 791/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2014-15

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

Section 32 of the Act. In the circumstances, before the High Court, the Revenue did not file an appeal on the finding of fact referred to hereinabove. For the afore-stated reasons, we answer Question No. [b] also in favour of the assessee." It can be seen from the above referred finding of Hon’ble Supreme Court the main argument

THE DCIT, CIR-3(1)(1), AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2224/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

Section 32 of the Act. In the circumstances, before the High Court, the Revenue did not file an appeal on the finding of fact referred to hereinabove. For the afore-stated reasons, we answer Question No. [b] also in favour of the assessee." It can be seen from the above referred finding of Hon’ble Supreme Court the main argument

SANGRAH WAREHOUSE LIMITED,BARODA vs. DCIT, CIRCLE 2(1)(1),, BARODA

In the result, appeal of the assessee for AY 2013-14 is dismissed

ITA 1744/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad04 Oct 2019AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad

For Appellant: Smt. Urvashi Shodhan, A.R
Section 79

section 79 of the Act is not applicable to the assessee. 3. The Learned CIT(A) has wrongly disallowed carried forward depreciation

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

ITA 464/AHD/2022[2012-13]Status: DisposedITAT Ahmedabad23 Jun 2025AY 2012-13

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

For Appellant: Shri Biren Shah, ARFor Respondent: Shri V. Nandakumar, CIT-DR
Section 142Section 143(1)Section 143(3)Section 250Section 36(1)(va)

79,59,760/-. The return of income was processed u/s 143(1) of the Act. Thereafter, the matter was referred for Special Audit and that the auditors were appointed on 26.03.2015 subsequent to which order u/s 143(3) r.w.s 142(2A) was passed wherein total income was assessed at Rs.103,02,53,338/- after making following additions/disallowances

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

ITA 546/AHD/2022[2012-13]Status: DisposedITAT Ahmedabad23 Jun 2025AY 2012-13

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

For Appellant: Shri Biren Shah, ARFor Respondent: Shri V. Nandakumar, CIT-DR
Section 142Section 143(1)Section 143(3)Section 250Section 36(1)(va)

79,59,760/-. The return of income was processed u/s 143(1) of the Act. Thereafter, the matter was referred for Special Audit and that the auditors were appointed on 26.03.2015 subsequent to which order u/s 143(3) r.w.s 142(2A) was passed wherein total income was assessed at Rs.103,02,53,338/- after making following additions/disallowances

THE ARVIND LTD,AHMEDABAD vs. THE ACIT.,CIRCLE-1,, AHMEDABAD

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

ITA 862/AHD/2012[2007-08]Status: DisposedITAT Ahmedabad15 Jul 2022AY 2007-08

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 862/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2007-2008 Arvind Ltd.(Earlier Known As Arvind A.C.I.T., Mills Ltd.), Vs. Circle-1, Naroda Road, Ahmedabad. Naroda, Ahmedabad.

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijay Kumar Jaiswal, CIT. DR
Section 115JSection 14A

depreciation actually debited to the Profit and Loss Account. 6. In law and in the facts and circumstances of the appellant's case, the learned CIT(A) has grossly erred in dismissing Ground No. 8 of the appellant's appeal before him challenging the learned Assessing Officer's action of adding the amount of Rs.87,97,108 disallowed u/s. Asstt

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

ITA 318/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2011-12

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

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

Depreciation is used to expense the fixed asset over its useful life. Depreciation helps to spread out the cost of an asset over many years instead of expensing the total cost in the year it was purchased. Depreciation allows companies to earn revenue from the asset while expensing a portion of its cost each year until the asset's useful

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

ITA 445/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2011-12

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

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

Depreciation is used to expense the fixed asset over its useful life. Depreciation helps to spread out the cost of an asset over many years instead of expensing the total cost in the year it was purchased. Depreciation allows companies to earn revenue from the asset while expensing a portion of its cost each year until the asset's useful

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

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

ITA 446/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2012-13

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

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

Depreciation is used to expense the fixed asset over its useful life. Depreciation helps to spread out the cost of an asset over many years instead of expensing the total cost in the year it was purchased. Depreciation allows companies to earn revenue from the asset while expensing a portion of its cost each year until the asset's useful

UTTAR GUJARAT VIJ COMPANY LIMITED,MEHSANA vs. THE DY.CIT, CIRCLE-2(1)(1), VADODARA

In the result, Ground No

ITA 292/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad25 Sept 2024AY 2016-17

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Mehul K. Patel, A.RFor Respondent: Shri R.N. Dsouza, CIT DR
Section 234BSection 271(1)(c)Section 32(1)(iia)

Section 43(1) of the Act indicates that the capital grant should be reduced from total grants /subsidies /consumer contribution of the particular asset and the same should be calculated accordingly. The Ld. DR could not point out any contrary facts to the same. Therefore it will be appropriate to remand back the issue to the file of the Assessing