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486 results for “depreciation”+ Section 65clear

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Key Topics

Addition to Income76Disallowance70Section 4055Section 14A54Deduction49Section 80H40Section 143(3)36Depreciation36Section 19530Section 80

DCIT, CHENNAI vs. M/S. TAMIL NADU CRICKET ASSOCIATION, CHENNAI

In the result, both the appeals of the Revenue as well as the cross-objections of the assessee are dismissed

ITA 2556/CHNY/2016[2011-12]Status: DisposedITAT Chennai31 May 2017AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita Nos.2556 & 2557/Mds/2016 & C.O. Nos.158 & 159/Mds/2016 (In Ita Nos.2556 & 2557/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13

For Appellant: Dr. Milind Madhukar Bhusari, CITFor Respondent: Shri V. Ravichandran, CA
Section 11Section 12ASection 2(15)

65 of the paper-book. For the purpose of convenience, we are reproducing the object:- (a) To take over on registration under the Societies Registration Act XXI of 1860 and assume the affairs and activities of the Madras Cricket Association, as subsequently appellated as Tamil Nadu Cricket Association and continue and take over the dues to and assets, liabilities, commitments

Showing 1–20 of 486 · Page 1 of 25

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Section 528
TDS22

DCIT, CHENNAI vs. M/S. TAMIL NADU CRICKET ASSOCIATION, CHENNAI

In the result, both the appeals of the Revenue as well as the cross-objections of the assessee are dismissed

ITA 2557/CHNY/2016[2012-13]Status: DisposedITAT Chennai31 May 2017AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita Nos.2556 & 2557/Mds/2016 & C.O. Nos.158 & 159/Mds/2016 (In Ita Nos.2556 & 2557/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13

For Appellant: Dr. Milind Madhukar Bhusari, CITFor Respondent: Shri V. Ravichandran, CA
Section 11Section 12ASection 2(15)

65 of the paper-book. For the purpose of convenience, we are reproducing the object:- (a) To take over on registration under the Societies Registration Act XXI of 1860 and assume the affairs and activities of the Madras Cricket Association, as subsequently appellated as Tamil Nadu Cricket Association and continue and take over the dues to and assets, liabilities, commitments

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

ITA 1520/CHNY/2018[2013-14]Status: DisposedITAT Chennai12 Apr 2023AY 2013-14

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

For Appellant: Shri S.K. Gupta, AdvocateFor Respondent: Shri S. Senthil Kumaran, CIT
Section 32(1)

65 taxmann.co 288 (Delhi) while deciding the issue regarding "Where assessee purchased business as 23 I.T.A. Nos.1520/Chny/18, 2164/Chny/19, 570 & 427/Chny/20 going concern, consideration paid in excess of value of tangible assets was classifiable as goodwill eligible for depreciation and, therefore, further exercise to value goodwill was not warranted" Concluded that "it is well established that 'goodwill' is an intangible asset

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

ITA 570/CHNY/2020[2015-16]Status: DisposedITAT Chennai12 Apr 2023AY 2015-16

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

For Appellant: Shri S.K. Gupta, AdvocateFor Respondent: Shri S. Senthil Kumaran, CIT
Section 32(1)

65 taxmann.co 288 (Delhi) while deciding the issue regarding "Where assessee purchased business as 23 I.T.A. Nos.1520/Chny/18, 2164/Chny/19, 570 & 427/Chny/20 going concern, consideration paid in excess of value of tangible assets was classifiable as goodwill eligible for depreciation and, therefore, further exercise to value goodwill was not warranted" Concluded that "it is well established that 'goodwill' is an intangible asset

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

ITA 427/CHNY/2020[2015-16]Status: DisposedITAT Chennai12 Apr 2023AY 2015-16

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

For Appellant: Shri S.K. Gupta, AdvocateFor Respondent: Shri S. Senthil Kumaran, CIT
Section 32(1)

65 taxmann.co 288 (Delhi) while deciding the issue regarding "Where assessee purchased business as 23 I.T.A. Nos.1520/Chny/18, 2164/Chny/19, 570 & 427/Chny/20 going concern, consideration paid in excess of value of tangible assets was classifiable as goodwill eligible for depreciation and, therefore, further exercise to value goodwill was not warranted" Concluded that "it is well established that 'goodwill' is an intangible asset

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

ITA 2164/CHNY/2019[2014-15]Status: DisposedITAT Chennai12 Apr 2023AY 2014-15

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

For Appellant: Shri S.K. Gupta, AdvocateFor Respondent: Shri S. Senthil Kumaran, CIT
Section 32(1)

65 taxmann.co 288 (Delhi) while deciding the issue regarding "Where assessee purchased business as 23 I.T.A. Nos.1520/Chny/18, 2164/Chny/19, 570 & 427/Chny/20 going concern, consideration paid in excess of value of tangible assets was classifiable as goodwill eligible for depreciation and, therefore, further exercise to value goodwill was not warranted" Concluded that "it is well established that 'goodwill' is an intangible asset

OLYMPIA TECH PARK PRIVATE LIMITED,CHENNAI vs. PCIT - 4 , CHENNAI

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

ITA 922/CHNY/2022[2017-2018]Status: DisposedITAT Chennai27 Apr 2023AY 2017-2018

Bench: Shri V. Durga Rao & Dr. Manish Boradआयकर अपील सं./I.T.A. No.922/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Olympia Tech Park (Chennai) Vs. The Principal Commissioner Of Private Limited, No. 1, Sidco Income Tax, Chennai-4, Industrial Estate, Guindy, Chennai. Chennai 600 032. [Pan:Aabco8102F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate ""थ" की ओर से/Respondent By : Shri M. Rajan, Cit सुनवाई की तारीख/ Date Of Hearing : 20.04.2023 घोषणा की तारीख /Date Of Pronouncement : 27.04.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Principal Commissioner Of Income Tax, Chennai -4, Chennai, Dated 25.03.2022 Relevant To The Assessment Year 2017-18 Passed Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

For Appellant: Shri N.V. Balaji, AdvocateFor Respondent: Shri M. Rajan, CIT
Section 143(3)Section 253Section 263Section 80I

section 263 of the Act, after examining the assessment records, the ld. PCIT has noticed that the assessee has claimed depreciation of ₹.17,41,16,411/- @ 25% on opening WDV of ₹.69,64,65

TAMIL NADU CRICKET ASSOCIATION,CHENNAI vs. DDIT, CHENNAI

In the result, the assessee’s appeal for assessment year

ITA 1537/CHNY/2014[2010-2011]Status: DisposedITAT Chennai14 Aug 2015AY 2010-2011

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1535, 1536 & 1537/Mds/2014 "नधा"रण वष" / Assessment Years : 2008-09 To 2010-11 M/S Tamil Nadu Cricket Association, The Deputy Director Of No.5, M.A.Chidambaram Stadium, V. Income Tax (Exemptions), Victoria Hostel Road, Chennai - 600 034. Chepauk, Chennai - 600 005. Pan : Aaaat 0398 M (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri V. Ravichandran, CAFor Respondent: Shri N. Rengaraj, CIT
Section 12A

depreciation. However, it is made clear that the assessee is eligible for exemption under Section 11 of the Act for all the assessment years under consideration. 13. Now coming to assessment years 2009-10 and 2010-11, the claim of the assessee was rejected by the lower authorities on the ground that the registration under Section 12AA was cancelled

TAMIL NADU CRICKET ASSOCIATION,CHENNAI vs. DDIT, CHENNAI

In the result, the assessee’s appeal for assessment year

ITA 1535/CHNY/2014[2008-2009]Status: DisposedITAT Chennai14 Aug 2015AY 2008-2009

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1535, 1536 & 1537/Mds/2014 "नधा"रण वष" / Assessment Years : 2008-09 To 2010-11 M/S Tamil Nadu Cricket Association, The Deputy Director Of No.5, M.A.Chidambaram Stadium, V. Income Tax (Exemptions), Victoria Hostel Road, Chennai - 600 034. Chepauk, Chennai - 600 005. Pan : Aaaat 0398 M (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri V. Ravichandran, CAFor Respondent: Shri N. Rengaraj, CIT
Section 12A

depreciation. However, it is made clear that the assessee is eligible for exemption under Section 11 of the Act for all the assessment years under consideration. 13. Now coming to assessment years 2009-10 and 2010-11, the claim of the assessee was rejected by the lower authorities on the ground that the registration under Section 12AA was cancelled

TAMIL NADU CRICKET ASSOCIATION,CHENNAI vs. DDIT, CHENNAI

In the result, the assessee’s appeal for assessment year

ITA 1536/CHNY/2014[2009-2010]Status: DisposedITAT Chennai14 Aug 2015AY 2009-2010

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1535, 1536 & 1537/Mds/2014 "नधा"रण वष" / Assessment Years : 2008-09 To 2010-11 M/S Tamil Nadu Cricket Association, The Deputy Director Of No.5, M.A.Chidambaram Stadium, V. Income Tax (Exemptions), Victoria Hostel Road, Chennai - 600 034. Chepauk, Chennai - 600 005. Pan : Aaaat 0398 M (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri V. Ravichandran, CAFor Respondent: Shri N. Rengaraj, CIT
Section 12A

depreciation. However, it is made clear that the assessee is eligible for exemption under Section 11 of the Act for all the assessment years under consideration. 13. Now coming to assessment years 2009-10 and 2010-11, the claim of the assessee was rejected by the lower authorities on the ground that the registration under Section 12AA was cancelled

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

ITA 2278/CHNY/2019[2013-14]Status: DisposedITAT Chennai05 Aug 2022AY 2013-14

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

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

ITA 2276/CHNY/2019[2011-12]Status: DisposedITAT Chennai05 Aug 2022AY 2011-12

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

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

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

ITA 1765/CHNY/2019[2009-10]Status: DisposedITAT Chennai05 Aug 2022AY 2009-10

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

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

ITA 2277/CHNY/2019[2012-13]Status: DisposedITAT Chennai05 Aug 2022AY 2012-13

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

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

ITA 2281/CHNY/2019[2016-17]Status: DisposedITAT Chennai05 Aug 2022AY 2016-17

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

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

ITA 2280/CHNY/2019[2015-16]Status: DisposedITAT Chennai05 Aug 2022AY 2015-16

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

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

ITA 2275/CHNY/2019[2010-11]Status: DisposedITAT Chennai05 Aug 2022AY 2010-11

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

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

ITA 2279/CHNY/2019[2014-15]Status: DisposedITAT Chennai05 Aug 2022AY 2014-15

Bench: Shri Mahavir Singhand Shri G. Manjunatha

For Appellant: Shri P. G. Sekar, C.A ""For Respondent: Dr. S. Palani Kumar,CIT
Section 143(3)

section 40A(2)(a) of the Act. 21. On the other hand, the ld.CIT-DR stated that there was a search and seizure operation in the business premise of V.V.V & Sons Edible Oils Ltd., and group on 17.11.2015. During the course of search various incriminating materials were found and seized by the Department that lead to detection of undisclosed income

R.RAVISHANKAR,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the assessee is dismissed

ITA 2204/CHNY/2015[2010-11]Status: DisposedITAT Chennai26 May 2017AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

For Respondent: 08.03.2017

depreciation can allowed on land because that too is not mentioned in Section 32., is squarely applicable to the facts of this case. 5.8. To conclude, following the ratio of the Supreme Court’s decisions cited earlier, viz. CIT Vs. Alps Theatre [1967] 65

DCIT LTU-1 , CHENNAI vs. MAHINDRA HOLIDAYS & RESORTS (P) LTD., CHENNAI

In the result the appeals of the assessee i

ITA 944/CHNY/2018[2013-14]Status: DisposedITAT Chennai10 May 2023AY 2013-14

Bench: Shri Mahavir Singh, Vp & Shri Arun Khodpia, Am आयकर अपील आयकर अपील संसंसंसं./Ita Nos.936 To 941/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1012/Chny/2019 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2009-2010 To 2015-2016) वष" M/S Mahindra Holidays & Resorts Ltd Vs The Dcit (Ltu), Chennai-600001 Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. & आयकर अपील आयकर अपील संसंसंसं./Ita Nos.942 To 944/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1089/Chny/2018 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2011-2012 To 2014-2015) वष" The Dcit (Ltu), Chennai-600001 Vs M/S Mahindra Holidays & Resorts Ltd Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" ..

Section 143(3)Section 147Section 148Section 32

depreciation schedule as depreciation/amortization was not claimed on the same. ii) We have clarified the same along with copies of the relevant pages of the Form 3GI) in the earlier paragraph. iii) There is no provision for depreciation on land and hence was not shown in the Form 3CD. This is in itself is a proof that we have