M/S. HYUNDAI MOTOR INDIA LTD.,KANCHIPURAM vs. PCIT-4, , CHENNAI

In the result, the appeal of the assessee is allowed

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

section 43(1) of the Act and that the subsidy was intended to offset the cost of assets. By the impugned order dated 09.12.2024, the Ld. PCIT set aside the order giving effect and directed the AO to apportion the subsidy among :-3-: ITA. No:434/Chny/2025 various blocks of assets and reduce the same from WDV for recomputation of depreciation

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

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 to certain extent and in assessment year 2011-12 it was allowed at Rs.2,04,77,364/- as against claim made by assessee at Rs.8,19,09,459/- after considering the reply of assessee dated 15.02.2019 and analyzing the provisions of section 32 r.w.s 47(xiii), 48, 49 & 55 and sections 28 to 41 and also section 43

ASSISSTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. FL SMITH PRIVATE LIMITED, KANCHIPURAM

In the result, the appeals of the revenue in ITA

sections": [ "Sec 14A", "Sec 92CA(3)", "Sec 92C(3)", "Sec 43(1)", "Sec 43(6)", "Sec 32(1)(ii)", "Rule 8D" ], "issues": "1. Whether goodwill arising from amalgamation is eligible for depreciation

HAMEED MARINE PRIVATE LIMITED,EDALAKUDY, NAGERCOIL vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, NAGERCOIL, INCOME TAX OFFICE, NAGERCOIL

In the result, Grounds relating to validity of notice u/s 143(2) are dismissed

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

depreciation claimed by the previous company in which it was installed. The Assessing Officer should have As per Explanation 3 to sub-section known that according to section 1 of section 43

ACIT CORPORATE CIRCLE-6(2), CHENNAI vs. M/S SUN EDISON SOLAR POWER INDIA PVT LTD, CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunatha

section 43(1) & Explanation 2B to Sec 43(6)(c), I concur with the finding of the Addl. CIT that the claim of depreciation

M/S SUN EDISON SOLAR POWER INDIA PVT LTD,CHENNAI vs. DCIT CORPORATE CIRCLE 6 (2), CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunatha

section 43(1) & Explanation 2B to Sec 43(6)(c), I concur with the finding of the Addl. CIT that the claim of depreciation

M/S. SUN EDITION SOLAR POWER INDIA PVT. LTD.,,CHENNAI vs. DCIT, CORPORATE CIRCLE - 6 (2),, CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunatha

section 43(1) & Explanation 2B to Sec 43(6)(c), I concur with the finding of the Addl. CIT that the claim of depreciation

M/S SUN EDISON SOLAR POWER INDIA PVT LTD,CHENNAI vs. ITO, CORPORATE WARD - 6 (3),, CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunatha

section 43(1) & Explanation 2B to Sec 43(6)(c), I concur with the finding of the Addl. CIT that the claim of depreciation

THE MUSIC ACADEMY MADRAS,CHENNAI vs. DDIT, CHENNAI

Accordingly, the same is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1098/Mds/2015 "नधा"रण वष" / Assessment Year : 2010-11 The Music Academy Madras, The Deputy Director Of Income Tax No.168 (Old No.306), Ttk Road, V. (Exemptions), Royapettah, Chennai - 600 014. Chennai - 600 034 . Pan : Aaatt 0256 B (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation of buildings, machinery, plant or furniture, being tangible assets or know- how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets allowable to the predecessor and the successor in the case of succession referred to in clause (xiii), clause (xiiib) and clause (xiv) of section 47 or section

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI vs. CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED, CHENNAI

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

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Ble

43(5) of the Act apply only to transactions in 'commodity', it is respectfully submitted that the provisions of the said section are not at all applicable in the present case for the simple reason that foreign currency is not a trading commodity.” :-17-: ITA. Nos:2613,2732,2820, 2835&2836/Chny/2024 7.3 In the present facts and circumstances

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LTD, CHENNAI

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

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Ble

43(5) of the Act apply only to transactions in 'commodity', it is respectfully submitted that the provisions of the said section are not at all applicable in the present case for the simple reason that foreign currency is not a trading commodity.” :-17-: ITA. Nos:2613,2732,2820, 2835&2836/Chny/2024 7.3 In the present facts and circumstances