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)

section 80IB of the Act. 5. At the time of hearing, learned counsel appearing for the assessee submitted that the issue is squarely covered by the decisions of Tribunal and the Hon’ble jurisdictional High Court in assesee’s own case. 6. Learned Departmental Representative, though, agreed with the aforesaid submission of the assessee, however, she relied upon the observations

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)

section 80IB of the Act. 5. At the time of hearing, learned counsel appearing for the assessee submitted that the issue is squarely covered by the decisions of Tribunal and the Hon’ble jurisdictional High Court in assesee’s own case. 6. Learned Departmental Representative, though, agreed with the aforesaid submission of the assessee, however, she relied upon the observations

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)

section 80IB of the Act. 5. At the time of hearing, learned counsel appearing for the assessee submitted that the issue is squarely covered by the decisions of Tribunal and the Hon’ble jurisdictional High Court in assesee’s own case. 6. Learned Departmental Representative, though, agreed with the aforesaid submission of the assessee, however, she relied upon the observations

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)

section 80IB of the Act. 5. At the time of hearing, learned counsel appearing for the assessee submitted that the issue is squarely covered by the decisions of Tribunal and the Hon’ble jurisdictional High Court in assesee’s own case. 6. Learned Departmental Representative, though, agreed with the aforesaid submission of the assessee, however, she relied upon the observations

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)

section 80IB of the Act. 5. At the time of hearing, learned counsel appearing for the assessee submitted that the issue is squarely covered by the decisions of Tribunal and the Hon’ble jurisdictional High Court in assesee’s own case. 6. Learned Departmental Representative, though, agreed with the aforesaid submission of the assessee, however, she relied upon the observations

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

In the result, the appeal of the assessee is allowed

7,80,99,198/-. The assessee claimed depreciation @ 100% on the cost of plant and machinery in the audited financials and the same was accepted by the AO while completing the assessment without proper examination and verification of the facts of the case. As per the provision of section

HARMONY PLASTICS PVT.LTD., ,UDAIPUR vs. ACIT, CIRCLE-1, UDAIUR

In the result, the appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Borad180/Jodh/2019 (Assessment Year- 2015-16) M/S. Harmony Plastics Pvt Ltd. V The Acit S F-335-339, Bhamashah Industrial Circle-1 Area, Kaladwas, Udaipur Uddaipur (Appellant) (Respondent) Pan No. Aabch 5399 D

section 32(1)(iia) cannot be allowed. Additonal depreciation itself is only for a new machinery or plant. A claim of additional depreciation as made by the assessee, it allowed, will not be an allowance for a new machinery or plant. Intenton of the Legislature was to give such additional depreciation in the year in which assets

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

7. In Income-tax Application No. 58 of 2001 Anil Bulk Carrier (P.) Ltd. v. CIT decided on October 26, 2004, we have held that the asset ready for use, but not actually used is also entitled for depreciation, under 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

7. In Income-tax Application No. 58 of 2001 Anil Bulk Carrier (P.) Ltd. v. CIT decided on October 26, 2004, we have held that the asset ready for use, but not actually used is also entitled for depreciation, under Section

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

In the result, appeal of the assessee is allowed

depreciation claimed thereon. the assessing authority was bound to consider the Explanation. Simply because the facts have been disclosed by the assessee, it does not give immunity from revisional jurisdiction which the Commissioner can exercise under section 263 and as such even in a case where the facts have been disclosed by the assessee to the assessing authority

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)

7. Above Rs. 15,00,000 30 per cent: Provided that where the person fails to satisfy the conditions contained in sub-section (2) in any previous year, the option shall become invalid in respect of the assessment year relevant to that previous year and other provisions of this Act shall apply, as if the option had not been 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)

7. Above Rs. 15,00,000 30 per cent: Provided that where the person fails to satisfy the conditions contained in sub-section (2) in any previous year, the option shall become invalid in respect of the assessment year relevant to that previous year and other provisions of this Act shall apply, as if the option had not been exercised

MAHADEVIA CHARITABLE TRUST,GANDHINAGAR vs. COMMISSIONER OF INCOME TAX, APPEAL UDAIPUR -2 , UDAIPUR

In the result, both these appeals are allowed for statistical purpose

Bench: Dr. Mitha Lal Meena, Hon’Ble & Shri Sudhir Pareek, Hon’Ble

7. In our view, the newly inserted Section 11(6) of the Act is applicable with effect from AY 2015-16 restricts allowance of depreciation

MAHADEVIA CHARITABLE TRUST,GANDHINAGAR vs. COMMISSIONER OF INCOME TAX, UDAIPUR

In the result, both these appeals are allowed for statistical purpose

Bench: Dr. Mitha Lal Meena, Hon’Ble & Shri Sudhir Pareek, Hon’Ble

7. In our view, the newly inserted Section 11(6) of the Act is applicable with effect from AY 2015-16 restricts allowance of depreciation

M/S. MOHTA CONSTRUCTION CO.,BIKANER vs. ACIT, BIKANER

In the result, the appeal of the assesee is allowed

Bench: Us. 2. The Assessee Has Raised The Following Grounds Of Appeal:- M/S Mohta Construction Co. “1. That The Assessment Completed By The Assessing Officer Is Against The Law & The Order Of Learned Cit(Appeals) Sustaining The Disallowances/Not Allowing The Deductions Claimed By The Appellant Is Bad At Law.

section 145. It is allowable deduction even after application of profit rate as per the various judicial pronouncements of the Hon'ble jurisdictional High Court as well as other High Courts. 6. That the Ld. A.O. is not justified in charging the interest. 7. That the appellant reserves the right to add, alter or delete any ground or grounds

SHREE RAM COLLOIDS PRIVATE LIMITED,JODHPUR vs. PRINCIPAL CIT(1), JODHPUR

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. Mitha Lal Meena & Shri Anikesh Banerjeeshree Ram Colloids Private Vs Principal Commissioner Of Income Limited, Tax (1), Jodhpur C-79, Mia, Phase-Ii, Jodhpur- 342 005 Pan: Aakcs5803L Appellant Respondent

depreciation was in order. Your kind attention is also invited towards the decision of Hon'ble Supreme Court at Page nos. 772-773 in the case of Narain Swadeshi Weaving Mills vs Commissioner of Excess Profits Tax IR 1955 SC 176, (1954) 26 ITR 765 SC, 19551 SCR 952 stated as under: "Business" as defined in section

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/S. NOKHA AGRO SERVICES,,BIKANER vs. PR. CIT, , BIKANER

In the result, appeal of the assessee is allowed

Bench: Shri R.C.Sharma & Shri Sandeep Gosainm/S Nokha Agro Services, 18 Vs Pr. Commissioner Of Income Km Stone, Nh-15, Tax, Sriganganagar Road, Bikaner. Bikaner. (Appellant) (Respondent) Pan: Aaffn 8164 R

7) EXPLANATION IN RESPECT OF CLAIM OF DEPRECIATION In show cause notice your honour have stated that on appraisal of depreciation chart it is observed that you have claimed depreciation on branches property like Delhi, Indore, Jaipur, Gujarat, Kota, Sriganganagar, Ankola, Sangli, Maharashtra. There are no documents which shows the godowns taken at these places are with or without Plant