M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

depreciation on goodwill. In the course of hearing, the explanation regarding origin of such goodwill was given as under: "In accordance with Scheme of Amalgamation of YSN Shares & Securities (P) Ltd with Smifs Securities Ltd (duly sanctioned by Hon'ble High Courts of Bombay and Calcutta) with retrospective effect from 1st April, 1998, assets and liabilities of YSN Shares & Securities

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

depreciation on goodwill. In the course of hearing, the explanation regarding origin of such goodwill was given as under: "In accordance with Scheme of Amalgamation of YSN Shares & Securities (P) Ltd with Smifs Securities Ltd (duly sanctioned by Hon'ble High Courts of Bombay and Calcutta) with retrospective effect from 1st April, 1998, assets and liabilities of YSN Shares & Securities

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

depreciation on goodwill. In the course of hearing, the explanation regarding origin of such goodwill was given as under: "In accordance with Scheme of Amalgamation of YSN Shares & Securities (P) Ltd with Smifs Securities Ltd (duly sanctioned by Hon'ble High Courts of Bombay and Calcutta) with retrospective effect from 1st April, 1998, assets and liabilities of YSN Shares & Securities

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

depreciation on goodwill. In the course of hearing, the explanation regarding origin of such goodwill was given as under: "In accordance with Scheme of Amalgamation of YSN Shares & Securities (P) Ltd with Smifs Securities Ltd (duly sanctioned by Hon'ble High Courts of Bombay and Calcutta) with retrospective effect from 1st April, 1998, assets and liabilities of YSN Shares & Securities

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

depreciation on goodwill. In the course of hearing, the explanation regarding origin of such goodwill was given as under: "In accordance with Scheme of Amalgamation of YSN Shares & Securities (P) Ltd with Smifs Securities Ltd (duly sanctioned by Hon'ble High Courts of Bombay and Calcutta) with retrospective effect from 1st April, 1998, assets and liabilities of YSN Shares & Securities

M/S. V.V.VANNIAPERUMAL & SONS,VIRUDHUNAGAR vs. PCIT-2, CHENNAI, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

depreciation on goodwill. In the course of hearing, the explanation regarding origin of such goodwill was given as under: "In accordance with Scheme of Amalgamation of YSN Shares & Securities (P) Ltd with Smifs Securities Ltd (duly sanctioned by Hon'ble High Courts of Bombay and Calcutta) with retrospective effect from 1st April, 1998, assets and liabilities of YSN Shares & Securities

AGILE ELECTRIC SUB ASSEMBLY (P) LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeal is disposed of in the aforesaid terms

Bench: Shri Sanjay Arora & Shri G. Pavan Kumarआयकर अपील सं./Ita No.2497/Mds/2016 "नधा"रण वष" / Assessment Year : 2011-12

7)) of the amalgamating companies (IJTP & TL and AEPTL), 8 Agile Electric Sub Assembly Pvt. Ltd. v. Dy. CIT while s.79 concerns the carry forward and set off of that of the assessee company (AESPL) itself. Only where the conditions of s. 2(1B) and sub-sections (1), (2) and (5) of s. 72A are met (i.e., qua the amalgamating

AREVA T & D LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the Revenue stands dismissed and

Bench: Shri Abraham P.George & Shri George Mathan

255 ITR 510) wherein, it was observed that (quoting from the Supreme Court’s decision in the case of Vazir Sultan Tobacco Co. Ltd. — (133 ITR 559) any amount transferred by the assessee to the General Reserve is treated as profits of the assessee, the Learned CIT(A) ought to have upheld the action of the Assessing Officer

DCIT, CHENNAI vs. M/S. AREVA T & D INDIA LTD., CHENNAI

In the result, the appeal filed by the Revenue stands dismissed and

Bench: Shri Abraham P.George & Shri George Mathan

255 ITR 510) wherein, it was observed that (quoting from the Supreme Court’s decision in the case of Vazir Sultan Tobacco Co. Ltd. — (133 ITR 559) any amount transferred by the assessee to the General Reserve is treated as profits of the assessee, the Learned CIT(A) ought to have upheld the action of the Assessing Officer

ADITYA BIRLA MONEY LTD.,,CHENNAI vs. JCIT (OSD), CO. CIRCLE - 1 (1),, CHENNAI

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

7. We have heard both sides, perused the materials on record and gone through the orders of authorities below. The Assessing Officer has restricted the claim of depreciation of 60% on V-sat equipments to 25%. While considering the submissions of the assessee, the ld. CIT(A) allowed the claim of depreciation of 60% by observing as under: “8. Thus

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

255 ITR 220, 230 (P & H), where from the facts it ITA Nos.2578 to 2580/chny/2017 :- 32 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells was clear that the assessee had claimed depreciation in the return at the rate of 50 per cent and he had nowhere disputed the fact that the admissible rate of depreciation to him was 40 per cent., such

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

255 ITR 220, 230 (P & H), where from the facts it ITA Nos.2578 to 2580/chny/2017 :- 32 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells was clear that the assessee had claimed depreciation in the return at the rate of 50 per cent and he had nowhere disputed the fact that the admissible rate of depreciation to him was 40 per cent., such

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

255 ITR 220, 230 (P & H), where from the facts it ITA Nos.2578 to 2580/chny/2017 :- 32 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells was clear that the assessee had claimed depreciation in the return at the rate of 50 per cent and he had nowhere disputed the fact that the admissible rate of depreciation to him was 40 per cent., such

M/S. ALAGUMALAI IMPEX PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee for both the assessment years are allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

255 (Kar.), wherein, it was held that the set off of losses and unabsorbed depreciation should be done before the allowance of deduction under section 10B of the Act and also the decision of the Tribunal in the case of Sword Global India Pvt. Ltd. v. ITO 306 ITR (AT) 286, the Assessing Officer has allowed the deduction under section

ALAGUMALAI IMPEX PVT LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee for both the assessment years are allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

255 (Kar.), wherein, it was held that the set off of losses and unabsorbed depreciation should be done before the allowance of deduction under section 10B of the Act and also the decision of the Tribunal in the case of Sword Global India Pvt. Ltd. v. ITO 306 ITR (AT) 286, the Assessing Officer has allowed the deduction under section

DCIT, CHENNAI vs. ALAGUMALAI IMPEX P. LTD., CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee for both the assessment years are allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

255 (Kar.), wherein, it was held that the set off of losses and unabsorbed depreciation should be done before the allowance of deduction under section 10B of the Act and also the decision of the Tribunal in the case of Sword Global India Pvt. Ltd. v. ITO 306 ITR (AT) 286, the Assessing Officer has allowed the deduction under section

UCAL LIMITED,CHENNAI vs. PCIT, CHENNAI-3,, CHENNAI

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

7. - Details of depreciation 180 8. - Detail of default statement 181 9. - Details of donation for scientific research 182 10. 08.12.2021 Notice under Section 142(1) of the Act 282 11. 20.01.2022 Notice under Section 142(1) of the Act 285 12. 09.02.2022 Reply to the Notice under Section 142(1) of the 287 Act dated 20.01.2022 13. - Annual report

YCH LOGISTICS (INDIA) PRIVATE LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

7) Hon’ble Bombay High Court in the case of CIT vs. Govindram Bros. Pvt. Ltd., (1983) 141 ITR 626 4. On the other hand, the ld.CIT-DR, Dr. S. Palani Kumar opposed admissibility of additional ground for the reason that this matter has I.T.A. No.322/Chny/2016 travelled up to Hon’ble Madras High court against the appeal order