SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

sections (4) to (10) and as increased by the applicable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the “Health and Education Cess on income-tax”, calculated at the rate of four per cent of such income

M/S HARI OIL MILLS PVT. LTD.,JAIPUR vs. ITO WARD 3(1), JAIPUR

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

195/- & unabsorbed depreciation of Rs.16,40,021/- and after allowing the set off of the same, there would not remain any income chargeable to tax. However, Ld. CIT(A) after relying on the decision of Hon’ble Gujarat High Court & Kerala High Court and the amendment brought by Finance Act, 2021 wherein it has been stated that the definition

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

195 ITD 354 (Pune). 51. One important aspect also needs to be analyzed. Sub- section (1) of Section 115JB has non-obstante clause. The said sub-section provides that in case of a company, if the income tax payable on total income as computed under the Income Tax Act is less than 18.5% of its book profit, then book profit

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

195 ITD 354 (Pune). 51. One important aspect also needs to be analyzed. Sub- section (1) of Section 115JB has non-obstante clause. The said sub-section provides that in case of a company, if the income tax payable on total income as computed under the Income Tax Act is less than 18.5% of its book profit, then book profit

ACIT, ALWAR vs. M/S PRIME CHEM OIL LTD.,, ALWAR

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year)." 27. It is established principle of interpretation of statutes, that the Parliament is presumed to be not extravagant, in using the words, and therefore, every word used

SMT. SHEELA YOGI,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, ground no. 3 & 4 of the assessee’s appeal are allowed

Bench: Him Under Rule 46A Of The Income Tax Act, 1962. 2(I) On The Facts & Circumstances Of The Case & In Law Also Ld. Lower Authorities Grossly Erred In Initiating Reassessment Proceedings U/S 147 Of The Act.

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year)." 27. It is established principle of interpretation of statutes, that the Parliament is presumed to be not extravagant, in using the words, 13 Sheela Yogi, Jaipur

M/S. CHAMBAL FERTILIZERS AND CHEMICALS LIMITED,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA

In the result, appeal of the revenue is dismissed

depreciation disallowed on catalyst. 10. This ground of the Revenue is covered by the decision of the Coordinate Bench of the Tribunal in ITA Nos. 461 & 575/JP/2015 for the A.Y. 2011-12 at page 12 para 21 as under :- “21. We have heard the rival contentions of both the parties, perused the material available on the record and the earlier

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. DCIT, KOTA

In the result, appeal of the revenue is dismissed

depreciation disallowed on catalyst. 10. This ground of the Revenue is covered by the decision of the Coordinate Bench of the Tribunal in ITA Nos. 461 & 575/JP/2015 for the A.Y. 2011-12 at page 12 para 21 as under :- “21. We have heard the rival contentions of both the parties, perused the material available on the record and the earlier

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. ACIT, KOTA

In the result, appeal of the revenue is dismissed

depreciation disallowed on catalyst. 10. This ground of the Revenue is covered by the decision of the Coordinate Bench of the Tribunal in ITA Nos. 461 & 575/JP/2015 for the A.Y. 2011-12 at page 12 para 21 as under :- “21. We have heard the rival contentions of both the parties, perused the material available on the record and the earlier

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

In the result, the appeals of the revenue in ITA No

195 (SC). In this ruling, the Court affirmed that\ntransactions that are executed through formal banking channels can be regarded\nas genuine, provided that there is a clear record of such transactions. The\njudgment elucidates that the mere existence of a transaction in the books of\naccounts, supported by bank statements, is sufficient to establish its legitimacy.\n12.3 Moreover

DCIT, CIRCLE-6, JAIPUR, NCRB, JAIPUR vs. BARMER LIGNITE MINING COMPANY LIMITED, UDYOG BHAWAN, JAIPUR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

depreciation is admissible under section 32, Shall not be deemed to be expenditure incurred by the assessee for any of the purposes specified in sub-section (2). (4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be— (a) an amount equal to one-tenth of the expenditure specified in sub-section (2) (such

BARMER LIGNITE MINING CO. LTD.,C-SCHEME, JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

depreciation is admissible under section 32, Shall not be deemed to be expenditure incurred by the assessee for any of the purposes specified in sub-section (2). (4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be— (a) an amount equal to one-tenth of the expenditure specified in sub-section (2) (such

DCIT, CIRCLE-6 JAIPUR, NCRB, JAIPUR vs. BARMER LIGNITE MINING COMPANY LIMITED, UDYOG BHAWAN, TILAK NAGAR JPR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

depreciation is admissible under section 32, Shall not be deemed to be expenditure incurred by the assessee for any of the purposes specified in sub-section (2). (4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be— (a) an amount equal to one-tenth of the expenditure specified in sub-section (2) (such

BARMER LIGNITE MINING CO. LTD.,C-SCHEME, JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

depreciation is admissible under section 32, Shall not be deemed to be expenditure incurred by the assessee for any of the purposes specified in sub-section (2). (4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be— (a) an amount equal to one-tenth of the expenditure specified in sub-section (2) (such

DCIT, CIRCLE 6, JAIPUR, NCRB, JPR vs. BARMER LIGNITE MINING COMPANY LIMITED, UDYOG BHAWAN JAIPUR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

depreciation is admissible under section 32, Shall not be deemed to be expenditure incurred by the assessee for any of the purposes specified in sub-section (2). (4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be— (a) an amount equal to one-tenth of the expenditure specified in sub-section (2) (such

DCIT, CIRCLE-6, JAIPUR, NCRB, JAIPUR vs. BARMER LIGNITE MINING COMPANY LIMITED, UDYOG BHAWAN, JAIPUR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

depreciation is admissible under section 32, Shall not be deemed to be expenditure incurred by the assessee for any of the purposes specified in sub-section (2). (4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be— (a) an amount equal to one-tenth of the expenditure specified in sub-section (2) (such

BARMER LIGNITE MINING CO. LTD.,C-SCHEME, JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

depreciation is admissible under section 32, Shall not be deemed to be expenditure incurred by the assessee for any of the purposes specified in sub-section (2). (4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be— (a) an amount equal to one-tenth of the expenditure specified in sub-section (2) (such

BARMER LIGNITE MINING CO. LTD.,C-SCHEME, JAIPUR vs. DCIT, CIRCLE-6, JAIPUR

depreciation is admissible under section 32,\nShall not be deemed to be expenditure incurred by the assessee for any of the purposes\nspecified in sub-section (2).\n(4) The deduction to be allowed under sub-section (1) for any relevant previous year shall be—\n(a) an amount equal to one-tenth of the expenditure specified in sub-section