HAGGLUNDS DRIVES (INDIA) PVT. LTD. ( NOW MERGED IN BOSCH REXROTH (INDIA) LTD.),,AHMEDABAD vs. THE DY.CIT, CIRCLE-1(1)(2),, AHMEDABAD

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

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

145A of the Act also. The assessee, we have noted, had furnished details of each and every inventory which it had devalued, substantiating its basis of the devaluation on age-wise analysis giving complete details of last date on which inventory was purchased showing that they were slow moving items, and based on age-wise analysis adopted by the assessee

ADANI ENTERPRISES LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD

Appeal of the Revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedasstt. Sr.No.

68. The assessee preferred an appeal before the learned CIT(A) and reiterated that the provisions of section 145A

THE DCIT, CIRCLE-8,, AHMEDABAD vs. STERLING ABRASIVES LTD,, AHMEDABAD

In the result, appeals filed by the department in ITA Nos

Bench: Shri N.K. Billaiya & Shri Mahavir Prasadआयकर अपील सं आयकर अपील सं./ Ita Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner Of Income Sterling Abrasives Ltd. Tax, Vs 45/46, Gidc, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ Ita No. 334/Ahd/2015 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2011-12 वष" Sterling Abrasives Ltd. Dy. Commissioner Of Income 45/46, Gidc, Vs Tax, Odhav Road, Circle-8, Ahmedabad – 382 415 Ahmedabad अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" य "" यथ" "" य "" य थ" थ"/ (Respondent) थ" Assessee By : Shri K. Madhusudan, Sr.D.R. Revenue By : Shri S. N. Soparkar, A.R. सुनवाई क" तारीख/Date Of Hearing : 27/10/2017 घोषणा क" तारीख /Date Of Pronouncement: 13/11/2017 आदेश/O R D E R आदेश आदेश आदेश Per Mahavir Prasad:- These Three Appeals, Two By The Revenue & One By The Assessee Are Directed Against The Separate Orders Of The Commissioner Of Income-Tax (Appeals)-Xiv, Ahmedabad Dated 04/12/2013 (Revenue) & Cit(A)-10, Ahmedabad Dated 19/12/2014 For Assessment Year 2009-10, 2010-11 & 2011-12 Respectively. 2. The Revenue Has Taken Following Grounds In Its Appeal Vide Ita No.704/Ahd/2014 For Asst. Year 2009-10:

68 of the Act During the course of assessment proceedings the assessee was requested to submit the confirmations from the customers from whom the advances were received in excess of Rs. 1 Lakh. In response to the same the assessee vide its letter dated 30.11.2011 has submitted as under: “In this regard we have to state that we have already

STERLING ABRASIVES LTD,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-8,, AHMEDABAD

In the result, appeals filed by the department in ITA Nos

Bench: Shri N.K. Billaiya & Shri Mahavir Prasadआयकर अपील सं आयकर अपील सं./ Ita Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner Of Income Sterling Abrasives Ltd. Tax, Vs 45/46, Gidc, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ Ita No. 334/Ahd/2015 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2011-12 वष" Sterling Abrasives Ltd. Dy. Commissioner Of Income 45/46, Gidc, Vs Tax, Odhav Road, Circle-8, Ahmedabad – 382 415 Ahmedabad अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" य "" यथ" "" य "" य थ" थ"/ (Respondent) थ" Assessee By : Shri K. Madhusudan, Sr.D.R. Revenue By : Shri S. N. Soparkar, A.R. सुनवाई क" तारीख/Date Of Hearing : 27/10/2017 घोषणा क" तारीख /Date Of Pronouncement: 13/11/2017 आदेश/O R D E R आदेश आदेश आदेश Per Mahavir Prasad:- These Three Appeals, Two By The Revenue & One By The Assessee Are Directed Against The Separate Orders Of The Commissioner Of Income-Tax (Appeals)-Xiv, Ahmedabad Dated 04/12/2013 (Revenue) & Cit(A)-10, Ahmedabad Dated 19/12/2014 For Assessment Year 2009-10, 2010-11 & 2011-12 Respectively. 2. The Revenue Has Taken Following Grounds In Its Appeal Vide Ita No.704/Ahd/2014 For Asst. Year 2009-10:

68 of the Act During the course of assessment proceedings the assessee was requested to submit the confirmations from the customers from whom the advances were received in excess of Rs. 1 Lakh. In response to the same the assessee vide its letter dated 30.11.2011 has submitted as under: “In this regard we have to state that we have already

THE DCIT(OSD) CIRCLE-8,, AHMEDABAD vs. VOLTAMP TRANSFORMERS LTD.,, AHMEDABAD

In the result appeal filed by the department is dismissed

Bench: Shri N.K. Billaiya & Shri Mahavir Prasad

145A but the principles laid down a very important. It has laid down that if there is cenvat credit receivable, it cannot be considered as income. 1.6 The attention is drawn to the recent Gujarat High Court Judgement in the case of ACIT Vs. Narmada Chematur Petro Chemicals Ltd 372 ITR 369 (Guj). The High Court has observed as under

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

68,00,471/- claimed on car, office equipment and UPS and added to the total income of the assessee. 34. Aggrieved assessee preferred an appeal before the learned CIT(A) who deleted the disallowances/addition made by the AO by following the order of his predecessor in the own case of the assessee for AY 2012-13. 35. Being aggrieved

THE DCIT CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

68,00,471/- claimed on car, office equipment and UPS and added to the total income of the assessee. 34. Aggrieved assessee preferred an appeal before the learned CIT(A) who deleted the disallowances/addition made by the AO by following the order of his predecessor in the own case of the assessee for AY 2012-13. 35. Being aggrieved

THE DCIT, CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

68,00,471/- claimed on car, office equipment and UPS and added to the total income of the assessee. 34. Aggrieved assessee preferred an appeal before the learned CIT(A) who deleted the disallowances/addition made by the AO by following the order of his predecessor in the own case of the assessee for AY 2012-13. 35. Being aggrieved

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

68,00,471/- claimed on car, office equipment and UPS and added to the total income of the assessee. 34. Aggrieved assessee preferred an appeal before the learned CIT(A) who deleted the disallowances/addition made by the AO by following the order of his predecessor in the own case of the assessee for AY 2012-13. 35. Being aggrieved

ASSISTANT COMMISSIONER OF INCOME-TAX CIRCLE-3(1)(1),AHMEDABAD, AHMEDABAD vs. SHRI GOVIND JAIRAMDAS CHANGLANI, AHMEDABAD

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

Bench: DR. BRR KUMAR (Vice President), Shri T.R. SENTHIL KUMAR (Judicial Member)

68 of IT Acton account of Sundry Creditors. (5) The Ld. CIT(A) has erred in law and on facts in deleting the addition of Rs. 8,25,834/- made on account of estimated net profit u/s 145A of IT Act. (6) The appellant craves leave to add, alter and/or to amend all or any the ground before the final

THE DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. AMOL DICALITE LTD.,, AHMEDABAD

Appeals are dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

68,000/-. Thus AO was of the view that since assessee is engaged in the business of leasing; therefore, additional depreciation is not available to the assessee. Accordingly, the AO issued show cause notice to the assessee. 21. In response to the notice, the assessee submitted that it has rightly claimed additional depreciation at the rate of 10% since

THE DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. AMOL DICALITE LTD.,, AHMEDABAD

Appeals are dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

68,000/-. Thus AO was of the view that since assessee is engaged in the business of leasing; therefore, additional depreciation is not available to the assessee. Accordingly, the AO issued show cause notice to the assessee. 21. In response to the notice, the assessee submitted that it has rightly claimed additional depreciation at the rate of 10% since

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT. LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

Section 145A. The Ld. D.R. relied upon the assessment order. 55. The Ld. A.R. submitted that the AO found that opening balance of "CENVAT credit" was Rs. 1,65,68

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,(OSD),, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

Section 145A. The Ld. D.R. relied upon the assessment order. 55. The Ld. A.R. submitted that the AO found that opening balance of "CENVAT credit" was Rs. 1,65,68

THE DCIT(OSD) RANGE-1,, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

Section 145A. The Ld. D.R. relied upon the assessment order. 55. The Ld. A.R. submitted that the AO found that opening balance of "CENVAT credit" was Rs. 1,65,68

CORRTECH INTERNATIONAL PVT. LTD.,AHMEDABAD vs. THE ADDL. CIT, TDS RANGE,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

Section 145A. The Ld. D.R. relied upon the assessment order. 55. The Ld. A.R. submitted that the AO found that opening balance of "CENVAT credit" was Rs. 1,65,68

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)RANGE-1,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

Section 145A. The Ld. D.R. relied upon the assessment order. 55. The Ld. A.R. submitted that the AO found that opening balance of "CENVAT credit" was Rs. 1,65,68

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

Section 145A. The Ld. D.R. relied upon the assessment order. 55. The Ld. A.R. submitted that the AO found that opening balance of "CENVAT credit" was Rs. 1,65,68