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)

set off of brought forward depreciation to the extent of Rs.48,03,58,938 as claimed by the assessee in its return of income, which included depreciation losses

ACIT ANAND CIRCLE, ANAND, ANAND vs. ELECON ENGINEERING COMPANY LTD, VALLABH VIDYANAGAR

In the result, appeal filed by the Revenue is dismissed

Bench: Us.

Loss from business the head Profit and gains and profession – from business and (4,29,10,457) Add profession without giving depreciation of Rs. effect of depreciation 28,88,76,261 Unabsorbed depreciation 4,29,10,457 Less: Set

OLYMPIC DECOR LLP,AHMEDABAD vs. THE PR.CIT, AHMEDABAD-3, AHMEDABAD

In the result, the Appeal of the assessee is allowed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2018-19 Olympic Décor Llp Pr.Commissioner Of 6, Patel Avenue, Nr.Gurudwara Vs Income Tax-3 Sg Highway, Bodakdev Ambawadi Ahmedabad. Ahmedabad. Pan : Adafs 2113 H (Applicant) (Responent) : Assessee By Shri Tushar Hemani, Sr.Advocate & Parimalsinh B. Parmar, Ars : Shri Rignesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 23/05/2025 आदेश आदेश/O R D E R आदेश आदेश

depreciation on such iv. goodwill and Acceptance of set-off of losses of Rs.11,18,52,160/- without proper verification

TAHOORA PROTEINS,PANCHMAHAL vs. THE ITO, WARD-2 NOW WARD-1, GODHRA

In the result, the appeal filed by the Assessee is hereby allowed

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

set off of brought forward losses and depreciation amounting to Rs.87,60,982/-. 2.1. The Return of Income was selected

SWAMINARAYAN CO.OP.BANK LTD.,,BARODA vs. THE ACIT, CIRCLE-3(1),, BARODA

In the result, the appeal of the Assessee is allowed

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.1411/Ahd/2019 "नधा"रण वष" /Assessment Year : 2010-11 Swaminarayan Co-Op. Bank Ltd. The Acit बना 1, Ashok Chambers Circle-3(1) Opp. Pathak Gate Police Station Ahmedabad म/ Madanzampa Road V/S. Vadodara 390 001 (Gujarat) "थायी लेखा सं./Pan: Aaaas 1932 N अपीलाथ"/ (Appellant) …… "" यथ"/ (Respondent) Assessee By : Shri Ashish Kanabar, Ar Revenue By : Shri Ashok Natha Bhalekar, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 07/08/2024 घोषणा क" तार"ख /Date Of Pronouncement: 9/08/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am: This Appeal Is Filed By The Assessee As Against The Order Dated 08/07/2019 Passed By The Commissioner Of Income-Tax (Appeals)-3, Vadodara [Hereinafter Referred To As “The Ld.Cit(A)” In Short] Arising Out Of The Penalty Order Dated 27/02/2019 Passed By The Assessing Officer (Ao) Under Section 271(1)(C) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Relevant To The Assessment Year (Ay) 2010-11. Swaminarayan Co-Op. Bank Ltd. Vs. Acit Asst. Year : 2010-11

set off of brought forward losses should not be rejected. In reply thereto, the assessee stated that – “the business of the bank is not closed but it is under liquidation and its co-operative status is not lost. The bank is winding up and earning interest on advances due and therefore unabsorbed losses and depreciation

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

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

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.

losses and unabsorbed depreciation can be carried forward from the de-merged company to the resulting company. ii. Neither the companies nor the shareholders are subject to capital gains tax. iii. Expenses incurred wholly for the purpose of de-merger are allowed as a deduction in five annual instalments being 20 per cent in each year. 11.4 The above benefits

GUJARAT STATE ELECTRICITY CORPN. LTD.,VADODARA vs. THE DY.CIT, CIRCLE-1(1)(1), VADODARA

In the result, the appeal of the assessee is partly allowed for statistical purposes, while the appeal of the Revenue is dismissed

Bench: Dr Brr Kumarshri Siddhartha Nautiyalआयकर अपील सं /Ita No. 1596/Ahd/2024 िनधा"रण वष" /Assessment Year : 2006-07

set-aside proceedings and came up for the 1st time in this second round of appeal, the issue deserves to be dismissed at the outset. However, as the issue arises out of the OGE of the Ld. AO, in the interest of justice, and keeping in mind various judicial pronouncements on allowability- of brought forward-losses and unabsorbed depreciation

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 1(1)(1), VADODARA, VADODARA vs. GUJARAT STATE ELECTRICITY CORPORATION LIMITED, VADODARA

In the result, the appeal of the assessee is partly allowed for statistical purposes, while the appeal of the Revenue is dismissed

Bench: Dr Brr Kumarshri Siddhartha Nautiyalआयकर अपील सं /Ita No. 1596/Ahd/2024 िनधा"रण वष" /Assessment Year : 2006-07

set-aside proceedings and came up for the 1st time in this second round of appeal, the issue deserves to be dismissed at the outset. However, as the issue arises out of the OGE of the Ld. AO, in the interest of justice, and keeping in mind various judicial pronouncements on allowability- of brought forward-losses and unabsorbed depreciation

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

depreciation, the resultant income shall comprise Of Capita! Gain, income from House property and income from other sources which are not "Profit derived from the business of power" and hence not to be considered for deduction Under Section 80 IA. The assessee is not eligible for carry forward any loss as entire carry forwarded loss has been set

GHCL LIMITED,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(2), AHMEDABAD

In the result, the appeal of the assessee is allowed

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

losses and Order u/s 154 dated -1,50,21,12,383 unabsorbed depreciation adjusted in 30.08.2017 AY 2015-16 GHCL Limited Vs. DCIT Asst. Year : 2015-16 - 3– 4. The assessee company filed an application u/s. 154 on 24-07-2017 requesting the Assessing Officer to rectify Order u/s. 143(1) dated 04-11-2016 and allow the set

M/S. GLOBE ECO LOGISTICS PVT. LTD.,,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(1)(1),, AHMEDABAD

Appeal of the Assessee is allowed for statistical purposes

losses of earlier year to the initial assessment year which already stand set off against profits of the assessee in earlier years, Cannot now be set off against the profits in the assessment years relating to the initial assessment year and thereafter. Meaning thereby that the unabsorbed depreciation

ENERGY-MISSION MACHINERIES (INDIA) PRIVATE LIMITED,AHEMADABAD vs. CIRCLE 2(1) AHMEDABAD, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

set off of any loss carried forward or depreciation from any earlier assessment year, if such loss or depreciation is attributable

M/S. GUJARAT CHEMICALS PORT TERMINAL COMPANY LIMITED,,BARODA vs. THE DCIT, CIRCLE-1(1)(1),, BARODA

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

depreciation to the extent of Rs.35,93,21,210/-. Book profit under Section 115JB of the Income-tax Act, 1961 (“the Act” in short) was declared by the assessee in the said return at Nil after setting off unabsorbed business loss

GUJARAT CHEMICAL PORT TERMINAL CO. LTD.,,LAKHIGAM vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

depreciation to the extent of Rs.35,93,21,210/-. Book profit under Section 115JB of the Income-tax Act, 1961 (“the Act” in short) was declared by the assessee in the said return at Nil after setting off unabsorbed business loss

THE ACIT, CIRCLE-1(1)(1),, BARODA vs. GUJARAT CHEMICAL PORT TERMINAL COMPANY LTD.,, BHARUCH

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

depreciation to the extent of Rs.35,93,21,210/-. Book profit under Section 115JB of the Income-tax Act, 1961 (“the Act” in short) was declared by the assessee in the said return at Nil after setting off unabsorbed business loss

THE ACIT, CIRCLE-1(1)(1),, BARODA vs. M/S. GUJARAT CHEMICAL PORT TERMINAL CO. LTD.,, BHARUCH

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

depreciation to the extent of Rs.35,93,21,210/-. Book profit under Section 115JB of the Income-tax Act, 1961 (“the Act” in short) was declared by the assessee in the said return at Nil after setting off unabsorbed business loss

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-2(1), AHMEDABAD vs. M/S. CLARIS LIFESCIENCES LIMITED, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 295/Ahd/2022 धििाधरणवरध/Asstt. Year: 2018-2019 The D.C.I.T, M/S Claris Lifesciences Limited, Central Circle-2(1), Vs. Claris Corporate Hq, Ahmedabad. Near Parimal Rly. Crossing, Ellisbridge, Ahmedabad-380006. Pan: Aaacc6366Q

depreciable assets cannot be set off against the long-term capital loss. As such, while setting off the long-term

M/S. VADILAL DAIRY INTERNATIONAL LTD.,MAHARASHTRA vs. THE ACIT CIRCLE-4(1)(2), AHMEDABAD

In the result, Ground No. 2 is partly allowed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

loss of A.Y. 2007-08. Further, the assessee has set off the income from ‘other sources’ of Rs.6,63,656/- for A.Y. 2015-16 against the unabsorbed depreciation

THE MADHAVPURA MERCANTILE CO. OP. BANK LIMITED (UNDER LIQUIDATION),AHMEDABAD vs. THE ACIT, CIRCLE-1(1)(1), AHMEDABAD

The appeal of the assessee is partly allowed

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinha

depreciable assets which was adjusted with brought forward business loss. As per provision of section 72(1) of the Act, the brought forward business loss can be set