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)

16 or clause (b) of section 24 (in respect of the property referred to in sub-section (2) of section 23) or clause (iia) of sub-section (1) of section 32 or section 32AD or section 33AB or section 33ABA or sub-clause (ii) or sub-clause (iia) or sub-clause (iii) of sub-section (1) or sub- section

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, JODHPUR, JODHPUR vs. SUNCITY METALS AND TUBES PVT. LTD., JODHPUR

In the result, the revenue appeal is dismissed

Bench: Dr. Mitha Lal Meena, HonʼBle & Dr. S. Seethalakshmi, Hon'Ble

section 32(1) (ii) of the Income Tax Act. Being aggrieved with the assessment order, assessee went before the Ld. CIT (A)/NFAC who granted relief to the assessee by observing as under: "------------------In conclusion, the appellant asserts that the claim for depreciation on goodwill is justified, and they request that it be allowed. Further, the appellant argues that

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)

16. In ground No. 4, the Revenue has challenged allowance of additional depreciation on wind mill. The gist of Revenue’s case is, assets of wind mill do not fall under clause (ii) of section

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)

16. In ground No. 4, the Revenue has challenged allowance of additional depreciation on wind mill. The gist of Revenue’s case is, assets of wind mill do not fall under clause (ii) of section

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)

16. In ground No. 4, the Revenue has challenged allowance of additional depreciation on wind mill. The gist of Revenue’s case is, assets of wind mill do not fall under clause (ii) of section

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)

16. In ground No. 4, the Revenue has challenged allowance of additional depreciation on wind mill. The gist of Revenue’s case is, assets of wind mill do not fall under clause (ii) of section

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)

16. In ground No. 4, the Revenue has challenged allowance of additional depreciation on wind mill. The gist of Revenue’s case is, assets of wind mill do not fall under clause (ii) of section

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

Section 32 of the Act. 8. In view of the foregoing discussions, we find that the view taken by the Tribunal is legally justified.” Identical view has been expressed by Hon’ble Delhi High Court in the case of National Thermal Power Corporation Ltd vs. CIT (2013)(357 ITR 253)(Delhi). 15. In the instant case, though the tax authorities

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

Section 32 of the Act. 8. In view of the foregoing discussions, we find that the view taken by the Tribunal is legally justified.” Identical view has been expressed by Hon’ble Delhi High Court in the case of National Thermal Power Corporation Ltd vs. CIT (2013)(357 ITR 253)(Delhi). 15. In the instant case, though the tax authorities

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

In the result, the appeal of the assessee is allowed

section 43(1) of the Act and on the whole of the cost of windmill, the depreciation claim is eligible which has been rightly claimed and allowed by the Assessing officer after due examination and verification in light of decision of Hon’ble Supreme Court in case of Saurashtra Cements (supra) and Hon’ble Gujarat High Court in case

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

depreciation @ 10.32% subject to depreciation, except depreciation on fixed assets claimed to be added during the year under consideration (i.e. for AY 2016-2017). When revenue challenged that order of the ld. CIT(A) net profit rate of 10.32% was applied net of depreciation means no separate deduction of depreciation was allowable. So, applying that precedent ld. AO noted that

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

16 which has not been included in computing the total income in the return …. Explanation.—For the purposes of this sub-section,— (a) "an incorrect claim apparent from any information in the return" shall mean a claim, on the basis of an entry, in the return,— (i) of an item, which is inconsistent with another entry of the same

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

16 which has not been included in computing the total income in the return …. Explanation.—For the purposes of this sub-section,— (a) "an incorrect claim apparent from any information in the return" shall mean a claim, on the basis of an entry, in the return,— (i) of an item, which is inconsistent with another entry of the same

DR. MANISH CHHAPARWAL ,UDAIPUR vs. DCIT, CENTRAL CIRCLE-2, UDAIPUR

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

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

16 Udaipur-313001 B, Saheli Marg, Udaipur-313001 [PAN: ACKPC2610E] (Appellant) (Respondent) Appellant by : Sh. Amit Kothari, Chartered Accountant Respondent by : Sh. Rajesh Ojha, CIT-DR Date of Hearing : 12.10.2023 Date of Pronouncement : 10.11.2023 ORDER Per Dr. M. L. Meena, AM: This captioned appeal has been filed by the assessee against the order of the ld. Commissioner of Income

HISTORIC RESORT HOTELS PVT. LTD.,UDAIPUR vs. ACIT/DCIT, CIRCLE-1, UDAIPUR

In the result appeal of the assessee is partly allowed for statistical purposes

Bench: The Due Date Of Filing Of The Return.

depreciation brought forward amounting to Rs.194356877/- 5. That the appellant craves to add. amend, alter or substitute any of the grounds of appeal on or before hearing. 6. That the appellant prays that the appeal be allowed as per grounds of appeal. 3. The main grievance of the assessee relates to the disallowance of Rs. 622830/- made

NAVKAR WOLLENS PRIVATE LIMITED,BIKANER vs. ACIT CIRCLE-3, BIKANER

In the result, the appeal of the assessee is allowed

Bench: Dr. Mitha Lal Meena, Hon’Ble & Shri Sudhir Pareek, Hon’Blenavkar Woollens Private Ltd. Assistant Commissioner Of Rani Bazar, Bikaner, H.O. Income Tax, Circle – 3 Bikaner, Bikaner Bikaner - 334001 Pan No. Aabcn 9287 G Assessee By Shri Rajendra Jain, Advocate & Smt. Raksha Birla, Ca (Physical) Revenue By Smt. Runi Pal, Cit-Dr & Shri Lalit Kumar Bishnoi, Addl. Cit-Dr (Virtual) Date Of Hearing 29.01.2026. Date Of Pronouncement 26.02.2026. Order Dr. Mitha Lal Meena, A.M.: This Appeal Is Filed By Assessee Against The Order Of National Faceless Appeal Centre Delhi [Hereinafter Referred To As Nfac/Cit(A)] Dated 30.07.2025 With Respect To Assessment Year 2014-15 Challenging Therein Sustaining The Addition Of Rs. 2,34,04,480/- On Account Of Difference Between The Fair Market Value & The Issue Price Of The Equity Shares By Questioning The Method Of Valuation.

depreciation on solar plant is irrelevant. Section 56(2)(viib) specifically deals with the premium received over FMV on the issuance of shares and treats such excess as taxable income regardless of the company’s overall profitability or losses. The learned CIT (A) has held that appellant has not succeeded in discharging its burden to proof to justify

M.G.B. GRAMIN BANK (THROUGH SUCCESSOR RAJASTHANMARUDHARA GRAMIN BANK),JODHPUR vs. ADDITIONAL CIT, PALI

Appeals are disposed off in the terms indicated as above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 36 is allowable. The provision for standard assets is not bad debts. Similarly, the provision for depreciation on NSLR investment is also not allowable. The omission has resulted in incorrect computation of business income by Rs. 81,99,926/— . 9 ITA Nos. 504/Jodh/20218 &Ors. Asstt. CIT v. Rajasthan Marudhara Gramin Bank &Ors. 2. On perusal of assessment records

M.G.B. GRAMIN BANK (THROUGH SUCCESSOR RAJASTHANMARUDHARA GRAMIN BANK),JODHPUR vs. ACIT, PALI

Appeals are disposed off in the terms indicated as above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 36 is allowable. The provision for standard assets is not bad debts. Similarly, the provision for depreciation on NSLR investment is also not allowable. The omission has resulted in incorrect computation of business income by Rs. 81,99,926/— . 9 ITA Nos. 504/Jodh/20218 &Ors. Asstt. CIT v. Rajasthan Marudhara Gramin Bank &Ors. 2. On perusal of assessment records