AARVEE DENIMS & EXPORTS LTD.,AHMEDABAD vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD
In the result, the appeal filed by the assessee is allowed
ITA 396/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad27 Sept 2024AY 2018-19
Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.396/Ahd/2024 िनधा"रण वष" /Assessment Year : 2018-19 Aarvee Denims & Exports Ltd. The Pr.Cit बनाम/ 191, Shahwadi Ahmedabad-1 V/S. Narol–Sarkhej Highway Ahmedabad – 382 405 (Gujarat) "थायी लेखा सं./Pan: Aabca 6019 P (अपीलाथ&/ Appellant) ('( यथ&/ Respondent) Assessee By : Shri Divyakant Parikh, Ar Revenue By : Shri Prithviraj Meena, Cit-Dr सुनवाई की तारीख/Date Of Hearing : 19/09/2024 घोषणा की तारीख /Date Of Pronouncement: 27/09/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:
For Appellant: Shri Divyakant Parikh, ARFor Respondent: Shri Prithviraj Meena, CIT-DR
Section 143(1)Section 143(3)Section 263Section 40Section 43BSection 80I
35,52,933/- (additional depreciation) were considered, these amounts would enhance the eligible business profits. With the available section 80IA deduction of Rs.5,39,19,734/-, the enhanced profits would still result in NIL taxable income, making the PCIT’s order to reassess futile and without prejudice to the revenue. The AR relied on CBDT Circular No.
37/2016, which acknowledges
