NAHAR COLOURS AND COATINHGS PRIVATE LIMITED,UDAIPUR vs. PRINCIPAL COMMISSIONER OFINCOMETAX, UDAIPUR

In the result, appeal of the assessee is allowed

13 Nahar Colours and Coatings Private Ltd order merely leads to initiation of proceedings of enquiry by the A.O. and does not in itself results into levy of tax. 3. NO LEVY OF TAX BY THE COMMISSIONER IN ORDER U/S 263 MATTER HAS BEEN SET ASIDE SUBSEQUENTLY ASSESSEE COULD PRESENT HIS ISSUES BEFORE THE A.O. 2.1. In the order under

M/S. DEEPAK & COMPANY INFRA PVT. LTD. ,SRI GANGANAGAR vs. ITO, WARD-1, SRIGANAGNAGAR

In the result, the appeal of the assessee is allowed

depreciation and amortization expenses of the assessee as per provisions of section 32(1)(ii) of the Act after seeking relevant details and documents from the assessee. Further, reliance was placed on explanation (2) to section 263(1) of the Act. It was submitted that the assessment order passed u/s 143(3) has been rightly held to be erroneous

M/S TARUN CONSTRUCTION COMPANY,WARD NO.24, NEAR BHAGAT SINGH CHOWK, SURATGARH vs. CPC, BANGALORE/ ITO, WARD-1, SRIGANGANAGAR, SRIGANGANAGAR

In the result, appeals are dismissed

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumar

13. This clause is inserted by the Finance Act with effect from 1st April, 1988. The Explanation to this clause is read very carefully. "Due date" has been explained stating that : means the date by which the assessee is required as an employer to credit contribution to the employees' account in the relevant fund under any Act, rule or order

M/S TARUN CONSTRUCTION COMPANY,WARD NO.24, NEAR BHAGAT SINGH CHOWK, SURATGARH vs. CPC, BANGALORE/ ITO, WARD-1, SRIGANGANAGAR , SRIGANGANAGAR

In the result, appeals are dismissed

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumar

13. This clause is inserted by the Finance Act with effect from 1st April, 1988. The Explanation to this clause is read very carefully. "Due date" has been explained stating that : means the date by which the assessee is required as an employer to credit contribution to the employees' account in the relevant fund under any Act, rule or order

ACIT, UDAIPUR vs. M/S. TIRUPATI MICROTECH P.LTD., UDAIPUR

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumarassessment Years: 2010-11 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D (Appellant) (Respondent) Assessment Year: 2011-12 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aanpn5358H Appellant) (Respondent) Assessment Year: 2012-13 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D Appellant) (Respondent)

3, the Revenue has challenged disallowance of depreciation claimed in respect of wind mill and accessories at higher rate of 80%. 12. Briefly, the facts are, in course of assessment proceedings, while examining assessee’s claim of depreciation on various assets, the Assessing Officer observed that it has claimed depreciation at the maximum rate of 80% in respect of evacuation

M/S. TIRUPATI MICROTECH PVT. LTD.,UDAIPUR vs. ACIT, UDAIPUR

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumarassessment Years: 2010-11 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D (Appellant) (Respondent) Assessment Year: 2011-12 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aanpn5358H Appellant) (Respondent) Assessment Year: 2012-13 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D Appellant) (Respondent)

3, the Revenue has challenged disallowance of depreciation claimed in respect of wind mill and accessories at higher rate of 80%. 12. Briefly, the facts are, in course of assessment proceedings, while examining assessee’s claim of depreciation on various assets, the Assessing Officer observed that it has claimed depreciation at the maximum rate of 80% in respect of evacuation

ACIT, UDAIPUR vs. M/S. TIRUPATI MICROTECH P.LTD., UDAIPUR

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumarassessment Years: 2010-11 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D (Appellant) (Respondent) Assessment Year: 2011-12 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aanpn5358H Appellant) (Respondent) Assessment Year: 2012-13 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D Appellant) (Respondent)

3, the Revenue has challenged disallowance of depreciation claimed in respect of wind mill and accessories at higher rate of 80%. 12. Briefly, the facts are, in course of assessment proceedings, while examining assessee’s claim of depreciation on various assets, the Assessing Officer observed that it has claimed depreciation at the maximum rate of 80% in respect of evacuation

M/S. TIRUPATI MICROTECH PVT. LTD.,UDAIPUR vs. DCIT, UDAIPUR

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumarassessment Years: 2010-11 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D (Appellant) (Respondent) Assessment Year: 2011-12 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aanpn5358H Appellant) (Respondent) Assessment Year: 2012-13 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D Appellant) (Respondent)

3, the Revenue has challenged disallowance of depreciation claimed in respect of wind mill and accessories at higher rate of 80%. 12. Briefly, the facts are, in course of assessment proceedings, while examining assessee’s claim of depreciation on various assets, the Assessing Officer observed that it has claimed depreciation at the maximum rate of 80% in respect of evacuation

ACIT, UDAIPUR vs. M/S. TIRUPATI MICROTECH P. LTD., UDAIPUR

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumarassessment Years: 2010-11 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D (Appellant) (Respondent) Assessment Year: 2011-12 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aanpn5358H Appellant) (Respondent) Assessment Year: 2012-13 Acit, Circle-2, Versus M/S. Tirupati Microtech P. Ltd. Udaipur. 1604/1610, Village Thoor, Udaipur. Pan: Aaact5483D Appellant) (Respondent)

3, the Revenue has challenged disallowance of depreciation claimed in respect of wind mill and accessories at higher rate of 80%. 12. Briefly, the facts are, in course of assessment proceedings, while examining assessee’s claim of depreciation on various assets, the Assessing Officer observed that it has claimed depreciation at the maximum rate of 80% in respect of evacuation

P I INDUSTRIES LIMITED ,UDAIPUR vs. PR. CIT, UDAIPUR, UDAIPUR

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavassessment Year:2016-17 Pi Industries Limited, Vs. Pr.Cit, Udaisagar Road, Udaipur. Udaipur-313001. Pan No. Aabcp 2183 M

Section 92E at all or has not disclosed the said transactions in the Accountant’s report filed; (b)where there has been a transfer pricing adjustment of ₹10 Crore or more in an earlier assessment year and such adjustment has been upheld by the judicial authorities or is pending in appeal; and (c)where search and seizure or survey operations

SECURE METERS LIMITED,UDAIPUR vs. PR. CIT, UDAIPUR

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavassessment Year:2016-17 Secure Meters Limited, Vs. Pr.Cit, E-Class, Pratap Nagar Udaipur. Industrial Area, Udaipur-313001. Pan No. Aaccs 8785 M

13 ITA 02/Jodh/2021 Secure Meters Ltd. Vs PCIT to the TPO. Even as per the order and the show cause notice u/s 263 which has been issued it is evident that the selection of the case was for complete scrutiny and the issues was not on transfer pricing parameters risk factors.The Instruction No. 3 of 2016 in para 3.3 states

ACIT, PAOTA C ROAD vs. VARAHA INFRA LIMITED, PAOTA B ROAD

In the result, the appeal of the revenue is dismissed

Bench: Dr. S. Seethalakshmi & Shri Rathod Kamlesh Jayantbhaithe Acit Vs M/S. Vardha Infra Ltd. Room No. 215, Aayakar Bhawan 6 Jalam Vilas Scheme Paota C Road, Jodhpur Paota B Road, Jodhpur (Appellant) (Respondent) Pan No. Aaccv 7972 K

3) and NP rate of 7.23% was applied as against negative NP rate of 6.97% shown by the assessee-company. On appeal by the assessee, vide appellate order dated 22.07.2018 the Ld. CIT (A-2), Udaipur in Appeal No. 10181/2018-19 upheld the rejection of books and further directed to estimate profit before depreciation @ 10.32% subject to depreciation, except depreciation

SANJU SONI,JODHPUR vs. ITO, WARD-1(1), JODHPUR

14. In view of the above findings, both the appeals deserve to be allowed

Bench: Dr. MITHA LAL MEENA (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

3) The loss and depreciation referred to in clause (ii) of sub-section (2) shall be deemed to have been given full effect to and no further deduction for such loss or depreciation shall be allowed for any subsequent year: the 1st day of April, 2020 in the prescribed manner, if the option under sub-section (5) is exercised

SANJU SONI,JODHPUR vs. ITO, WARD-1(1), JODHPUR

14. In view of the above findings, both the appeals deserve to be allowed

Bench: Dr. MITHA LAL MEENA (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

3) The loss and depreciation referred to in clause (ii) of sub-section (2) shall be deemed to have been given full effect to and no further deduction for such loss or depreciation shall be allowed for any subsequent year: the 1st day of April, 2020 in the prescribed manner, if the option under sub-section (5) is exercised

SATYA NARAYAN DHOOT,JODHPUR vs. ACIT, CIRCLE-3, JODHPUR

In the result, the appeal of the assessee is allowed

3) r.w.s. 263 of the Income Tax Act, 1961.” 4. It was submitted that on perusal of finding of the Ld. PCIT, it is crystal clear that the Ld PCIT had passed the order without due application of mind on the documentary evidence placed on record during the assessment proceeding as well as revision proceedings. However the observation

ASHOK PANWAR HUF,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JODHPUR

In the result, both the appeals of the assesses ITA No

Bench: Dr. Mitha Lal Meena, Hon'Ble & Shri Anikesh Banerjee, Hon'Ble

depreciation), thereby making the addition of Rs.8,08,458/- to cover possible leakage of revenue. However, we note that the Ld. AO did not reject the assessee's books of account, nor did he find any defect or discrepancy in the method of maintenance of books. The assessee has consistently followed the same system of accounting year after year

PUSHP RAJ BOHRA,JALORE vs. PR. CIT – 1, JODHPUR, JODHPUR

In the result, appeal filed by the Assessee is allowed

Bench: Dr. Mitha Lal Meena, Hon'Ble & Shri Udayan Das Gupta, Hon'Ble

section 263 could not draw any oxygen from the show cause notice. The present assessee's case is no different from the case of Genesis Colors (P) Ltd. vs. CIT and other decisions referred here in above and accordingly, order passed u/s. 263 cannot be sustained in law. 8. From the record and more particularly assesse's Paper Book

SAMBHAV ENERGY LIMITED ,CHENNAI vs. ACIT, CENTRAL CIRCLE-1, JODHPUR

In the result, both the appeals filed by the assessee are treated as allowed for statistical purposes

Bench: Shri B. R. Baskaran & Shri Sandeep Gosain

13. We heard rival contentions and perused the record. Four significant contentions have been raised before us by Ld A.R. First, it was submitted that the assessee has not completely stopped the business as presumed by the tax authorities. If that is the case, there was no necessity for the assessee to maintain establishment and incur expenses including interest expenses

SAMBHAV ENERGY LIMITED ,CHENNAI vs. ACIT, CENTRAL CIRCLE-1, JODHPUR

In the result, both the appeals filed by the assessee are treated as allowed for statistical purposes

Bench: Shri B. R. Baskaran & Shri Sandeep Gosain

13. We heard rival contentions and perused the record. Four significant contentions have been raised before us by Ld A.R. First, it was submitted that the assessee has not completely stopped the business as presumed by the tax authorities. If that is the case, there was no necessity for the assessee to maintain establishment and incur expenses including interest expenses