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 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

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:-

7 to section 43(1), sixth proviso to section 32(1), section 49(1)(iii)(e), and Explanation 2 to section 43(6), asserting that the cost or WDV in the hands of the amalgamating company should be taken as nil. We find that these provisions apply to tangible assets transferred in amalgamation, not to newly recognised intangible assets like

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

Appeal of the assessee is dismissed

94,64,058 4,15,34,675 5,09,98,733 Exchange Gain on CERs . 20,63,672 57,07,462 77,71,134 Expenditure -18,59,929 -43,68,862 -62,28.791. Net Income 96,67,801 4,28,73,275 5,25,41,076 Actual receipt on sale of Nil Nil Nil CERs approved by UNFCC 41. While

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

Appeal of the assessee is dismissed

94,64,058 4,15,34,675 5,09,98,733 Exchange Gain on CERs . 20,63,672 57,07,462 77,71,134 Expenditure -18,59,929 -43,68,862 -62,28.791. Net Income 96,67,801 4,28,73,275 5,25,41,076 Actual receipt on sale of Nil Nil Nil CERs approved by UNFCC 41. While

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

Appeal of the assessee is dismissed

94,64,058 4,15,34,675 5,09,98,733 Exchange Gain on CERs . 20,63,672 57,07,462 77,71,134 Expenditure -18,59,929 -43,68,862 -62,28.791. Net Income 96,67,801 4,28,73,275 5,25,41,076 Actual receipt on sale of Nil Nil Nil CERs approved by UNFCC 41. While

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) CIRCLE-8,, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.1285 & 1286/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2009-10 & 2010-11 & Ita No.1396 & 1397/Ahd/2018 Asstt.Year 2011-12 & 2012-13 Torrent Pharmaceuticals Ltd. Acit, Circle-4(1)(2) Torrent House Ahmedabad. Vs. Off.Ashram Road Ahmedabad 380 009. आयकर अपील सं./Ita.No.1327 & 1328/Ahd/2017 िनधा"रण वष"/ Asstt. Year: 2009-10 & 2010-11 & आयकर अपील सं./Ita.No.1414 & 1415/Ahd/2018 िनधा"रण वष"/ Asstt. Year: 2011-12 & 2012-13 Acit, Circle-4(1)(2) Torrent Pharmaceuticals Ltd. Ahmedabad. Torrent House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee By : Shri Vartik Choksi, With Shri Biren Shah, Ars. Revenue By : Shri Mohd. Usman, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 23/11/2021 घोषणा क" तारीख /Date Of Pronouncement: 22/02/2022 आदेश/O R D E R Per Bench

section (5) of Section 80-IA. In this case, the question that arose for consideration ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 38 before this Court related to computation of the profits for the purpose of deduction under section 80-E, as it then existed, after setting off the loss incurred by the assessee in the manufacture of alloy steels. Section

ACULIFE HEALTHCARE PVT. LTD,AHMEDABAD vs. THE DCIT CIRCLE-1(1)(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

7 Aculife Healthcare Pvt. Ltd. vs. DCIT was of the view that the depreciation amounting to Rs. 68,84,94,588/- claimed on the aforesaid goodwill is not allowable under the Act to the assessee company. However, according to Ld. Pr. CIT, the ld. Assessing Officer wrongly accepted the claim of depreciation of Rs. 68,84,94,988/- on goodwill

ACULIFE HEALTHCARE PVT. LTD,AHMEDABAD vs. THE DCIT CIRCLE-1(1)(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

7 Aculife Healthcare Pvt. Ltd. vs. DCIT was of the view that the depreciation amounting to Rs. 68,84,94,588/- claimed on the aforesaid goodwill is not allowable under the Act to the assessee company. However, according to Ld. Pr. CIT, the ld. Assessing Officer wrongly accepted the claim of depreciation of Rs. 68,84,94,988/- on goodwill

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

7 Ld. CIT (A) erred in law and on facts in confirming addition made by AO of Rs.44,573/- on account of non payment of PF & ESI amount within mandatory period. Ld. CIT (A) ought to have deleted addition. 8 Confirming levy of interest u/s 234A/234B/234C & 234D is not justified. 9 Initiation of penalty

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

7 Ld. CIT (A) erred in law and on facts in confirming addition made by AO of Rs.44,573/- on account of non payment of PF & ESI amount within mandatory period. Ld. CIT (A) ought to have deleted addition. 8 Confirming levy of interest u/s 234A/234B/234C & 234D is not justified. 9 Initiation of penalty

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

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 Property Rs. 9,67,386/- Income from other sources Rs. 17,293/- Gross total income: Rs. 3,83,37,613/- Less: Donation u/s. 80IA Rs. 9,92,000/- Deduction u/s. 80IA reduced

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

Depreciation on Akola Plant 1,27,09,375 Excess Remuneration paid 7,64,000 Loss on F&O 4,20,57,547 Disallowance u/s 36(1)(va) 71,060 Interest Capitalization of WIP 4,88,000 Prior Period Income 1,05,89,848 Interest free advances 4,24,000 Interest free advances to Shri Nilesh Keshavlal Patel

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

Depreciation on Akola Plant 1,27,09,375 Excess Remuneration paid 7,64,000 Loss on F&O 4,20,57,547 Disallowance u/s 36(1)(va) 71,060 Interest Capitalization of WIP 4,88,000 Prior Period Income 1,05,89,848 Interest free advances 4,24,000 Interest free advances to Shri Nilesh Keshavlal Patel

THE ACIT,ANAND CIRCLE,, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 24 of the Act was directed to be allowed. While passing the order, Ld. CIT(A) made the following observations:- “10. Vide the ground no. 7, the appellant has challenged the action of the AO of disallowing of depreciation on leased assets of Rs. 3,68,94

NATIONAL DAIRY DEVELOPMENT BOARD,,ANAND vs. THE ACIT.,ANAND CIRCLE,, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 24 of the Act was directed to be allowed. While passing the order, Ld. CIT(A) made the following observations:- “10. Vide the ground no. 7, the appellant has challenged the action of the AO of disallowing of depreciation on leased assets of Rs. 3,68,94

THE DY.COMMISSIONER OF INCOME TAX.,ANAND CIRCLE,, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 24 of the Act was directed to be allowed. While passing the order, Ld. CIT(A) made the following observations:- “10. Vide the ground no. 7, the appellant has challenged the action of the AO of disallowing of depreciation on leased assets of Rs. 3,68,94

NATIONAL DAIRY DEVELOPMENT BOARD,,ANAND vs. THE ASSTT. COMMISSIONER OF INCOME TAX, ANAND CIRCLE,, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 24 of the Act was directed to be allowed. While passing the order, Ld. CIT(A) made the following observations:- “10. Vide the ground no. 7, the appellant has challenged the action of the AO of disallowing of depreciation on leased assets of Rs. 3,68,94

BAKERI PROJECTS PRIVATE LIMITED,AHMEDABAD vs. DCIT CIRCLE 1(1)(1), AHMEDABAD, AHMEDABAD

In the result, the appeal filed by the assessee is allowed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokarasstt.Year : 2020-21 Bakeri Projects Pvt. Lt. The Dcit, Cir.(1)(1) 1St Floor, Sanskrut Vs. Ahmedabad. Old High Court Road Off: Ashram Road Ahmedabad. Pan : Aagcb 1864 L (Applicant) (Responent)

94,158 pertaining to A.Ys. 2016–17, 2017–18, and 2018–19. Upon examination of the assessment record and ITR schedules, the PCIT noticed that the depreciation loss pertaining to A.Ys. 2016–17 and 2017–18 had already been disallowed in the respective assessment years due to rejection of depreciation on goodwill, and hence, no depreciation loss was available

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)

depreciation on goodwill arising out of amalgamation of Rs.132,47,53,370/- u/s.32 of the Act. 6. The Ld. CIT(A) has erred in law and facts of the case in confirming the action of AO in holding that the goodwill has to be taken at NIL cost in the hands of the appellant. 7. Both the lower authorities have