DCIT 4(3)(1), MUMBAI vs. RELIANCE TRANSPORT AND TRAVELS P.LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri S. Rifaur Rahman: A.Y : 2013-14 Asst. Commissioner Of Income Vs. M/S. Reliance Transport & Tax – 4(3)(1), Travels Pvt. Ltd., Mumbai (Appellant) 6Th Floor, Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai 400 020. Pan : Aaacr2380M (Respondent)

depreciable asset and, therefore, the exemption available to the 19 Reliance Transport & Travels Pvt. Ltd. depreciable asset under section 54E cannot

SAMIR NARAIN BHOJWANI ,MUMBAI vs. DCIT 4(2)(1), MUMBAI

Appeal of the assessee is allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

ACIT 421 MUMBAI, MUMBAI CITY vs. SAMIR NARAIN BHOJWANI, MUMBAI

Appeal of the assessee is allowed for statistical purposes and the\nappeal of the revenue is dismissed

depreciable asset and, therefore, the exemption\navailable to the depreciable asset under section 54E cannot be denied by referring\nto the fiction

DCITCC 3(2) CEN RG 3, MUMBAI vs. HRISHIKESH D. PAI, MUMBAI

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

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2766/Mum/2017 (नििाारण वर्ा / Assessment Year : 2012-13) बिाम/ Dcit, Cc 3(2) Cen Rg 3 Shri Hrishikesh D. Pai, R.No. 1913, 19Th Floor, C/O M/S. Pregnancy Air India Building, Advice & Services, V. Nariman Point, 304, Pearl Centre, Mumbai S.B. Marg, Dadar, Mumbai 400028 स्थायी ऱेखा सं./ Pan : Aabpp2139C (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri. Manoj Kumar Singh, Dr Assessee By : Shri. Vijay Mehta सुनवाई की तारीख /Date Of Hearing : 23.08.2018 घोषणा की तारीख /Date Of Pronouncement :26.09.2018 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 2766/Mum/2017, Is Directed Against Appellate Order Dated 05.12.2016 Passed By Learned Commissioner Of Income Tax (Appeals)-5, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2012-13, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 30.03.2015 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2012-13. I.T.A. No.2766/Mum/2017

depreciable asset and, therefore, the exemption available to the depreciable asset under Section 54E cannot be denied by referring to the fiction

ZODIAC JRD MKJ LTD,MUMBAI vs. ASST CIR 5(3)(2), MUMBAI

Bench: Shri Prashant Maharishi & Shri Kuldip Singhassessment Year: 2014-15

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

ITO 29(1)(3), MUMBAI vs. DEVYANI R DOSHI, MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri Mahavir Singh () & Shri G Manjunatha ()

exemption u/s 54F is available to depreciable asset as section 54F does not make any distinction between depreciable asset and a non depreciable

UNIQUE PROPERTIES & SECURITIES PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER - CENTRAL CIRCLE 38, MUMBAI

In the result, the appeal is allowed for statistical purposes

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2011-12 Unique Properties & Securities Private Assistant Commissioner-Central Circle Limited, 4Th Floor, Malhotra House, Opp. Vs. 38, [Now Dcit Central Circle 6(3)], 19Th Gpo, Fort, Mumbai-400001. Floor, Air India Building, Nariman Point, Mumbai-400021. Pan No. Aaacu0702G Appellant Respondent

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

OMNIFIC ,MUMBAI vs. INCOME TAX OFFICER .21(2)(4), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

depreciable asset and therefore, the exemption available to the depreciable asset under Section 54E cannot be denied by referring to the fiction

ACIT, CIRCLE 3(1)(2), MUMBAI vs. M/S EUROFINANCE TRAININF & PUBLISHING PVT. LTD., MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

depreciable asset and, therefore, the exemption available to the depreciable asset under Section 54E cannot be denied by referring to the fiction

DY CIT - 8(3)(1), MUMBAI vs. M/S VOLTAS LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Laliet Kumar, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – 8(3)(1) V. M/S. Voltas Limited Room No. 615 Voltas House, A Block Aayakar Bhavan, M.K. Road Dr. Babasaheb Ambedkar Rod Mumbai - 400020 Chinchpokli, Mumbai – 400033 Pan: Aaacv2809D (Appellant) (Respondent) Assessee By : Shri Nitesh Joshi Department By : Shri Milind Chavan

depreciable asset and, therefore, the exemption available to the depreciable asset under Section 54E cannot be denied by referring to the fiction

DCIT 8(3)(2), MUMBAI vs. VOLTAS LTD, MUMBAI

In the result, these appeals are partly allowed

depreciable asset and, therefore, the exemption available to the depreciable asset under Section 54E cannot be denied by referring to the fiction

RELIANCE POWER LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 15(3)(1), MUMBAI

In the result, ground of appeal raised by assessee is allowed

Bench: Shri Pawan Singh& Shri Omkareshwar Chidara(Physical Hearing) Dcit – 15(3)(1), Mumbai Reliance Power Limited Room No. 460, 4Th Floor, H-Block, 1St Floor, Dhirubhai Ambani Vs Aayakar Bhavan, M.K. Road, Knowledge City, Koperkhairane, Mumbai – 400020] Navi Mumbai-400710 [Pan: Aaacr2365L] Appellant / Revenue Respondent / Assessee Reliance Power Limited Dcit – 15(3)(1), Mumbai Room No. 460, 4Th Floor, Aayakar Reliance Centre, Ground Floor, 19 Vs Walchand Hirachand Marg, Bhavan, M.K. Road, Ballard Estate, Mumbai – 400001. Mumbai – 400020] [Pan: Aaacr2365L] Appellant / Assessee Respondent / Revenue

depreciable asset, however, that restriction is limited to the computation of capital gains and not to the exemption provision. If depreciation

ITO (E) 2(2), MUMBAI vs. PARMESHWARIDEVI GORDHANDAS GARODIA CHARITABLE TRUST, MUMBAI

Bench: S/Sh. Rajendra & Pawan Singhआयकर अपील सं/.Ita No.2661/Mum/2015,"नधा"रण वष"/Assessment Year-2010-11 Ito (E)- 2(2), Parmeshwaridevi Gordhandas Garodia Room No. 4502, 5Th Floor, बनाम Charitable Trust, 153, Garodia Nagar, Piramal Chambers, Lalbaug, Ghatkopar (E), Mumbai-400077 Vs. Parel, Mumbai-4000012. Pan: Aaatp0083C (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व ओर से / Revenue By : Shri Anu Krishna Aggarwal (Dr) "नधा"रती क" ओर से/ Assessee By : Shri Rahul K. Hakani (Ar)

depreciation on the assets on the ground that since the income was exempt, allowing depreciation to ascertain whether the required

DCIT (E)-2(1), MUMBAI vs. MANDKE FOUNDATION, MUMBAI

In the result, this appeal filed by the Revenue stands dismissed

Bench: Shri Shamim Yahyaआयकर अपील सं./I.T.A. No. 4108/Mum/2017 ("नधा"रण वष" / Assessment Year: 2012-13) Dy. Cit (Exemptions)-2(1), Mandke Foundation बनाम/ Room No. 519, 5Th Floor, Rao Saheb Achutrao Patwardhan Piramal Chambers, Lalbaug, Marg, Four Bunglows, Vs. Lower Parel, Mumbai-400 012 Andheri (W), Mumbai-400 053 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aatm 4557 G (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri N. Hemalatha ""यथ" क" ओर से/Respondent By : Shri Jitendra Sanghavi सुनवाई क" तार"ख / : 09.10.2017 Date Of Hearing घोषणा क" तार"ख / : 10.10.2017 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Is An Appeal By The Revenue Directed Against The Order By The Commissioner Of Income Tax (Appeals), Mumbai (‘Cit(A)’ For Short) Dated 08.03.2017, Pertaining To The Assessment Year (A.Y.) 2012-13. 2. The Grounds Of Appeal Read As Under: 1. "Whether On The Facts Of The Case & In Law The Id.Cit(A) Erred In Aliening The Appeal Of The Assessee On Account Of Disallowing Depreciation On Fixed Assets Of Rs.60,92,65,396/- In Contravention Of The Decision Of Escorts

depreciation on fixed assets of Rs.60,92,65,396/- in contravention of the decision of Escorts 2 Dy. CIT (Exemptions

BHAGWANDAS SURAJKARAN SOMANI HUF,THANE vs. INCOME TAX OFFICER, THANE

In the result, all the appeals of the assessee are allowed

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhail

exemption or deductions, loss or depreciation as specified in the said sub-section. The first proviso to section 115BAC states

BHAGWANDAS SURAJKARAN SOMANI HUF,THANE vs. INCOME TAX OFFICER, THANE

In the result, all the appeals of the assessee are allowed

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhail

exemption or deductions, loss or depreciation as specified in the said sub-section. The first proviso to section 115BAC states

BHAGWANDAS SURAJKARAN SOMANI HUF,THANE vs. INCOME TAX OFFICER, THANE

In the result, all the appeals of the assessee are allowed

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhail

exemption or deductions, loss or depreciation as specified in the said sub-section. The first proviso to section 115BAC states

M/S. KANSAI NEROLAC PAINTS LTD ( ERSTWHILE KNOWN AS GOODLASS NEROLAC PAINTS LTD),MUMBAI vs. THE DCIT RG 6(3),

In the result, the appeal for the AY 2005-06 is partly allowed

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2004-05 Kansai Nerolac Paints Ltd. Dcit, Range 6(3) (Erstwhile Known As Room No. 576, Vs. Goodlass Nerolac Paints Ltd.) Aayakar Bhavan, M.K. Nerolac House, G.K. Marg, Marg, Lower Parel, Mumbai-400020. Mumbai-400013. Pan No. Aaacg1376N (Appellant) (Respondent) Assessment Year: 2005-06 & Assessment Year: 2006-07 Kansai Nerolac Paints Ltd. Addl. Cit, Range 6(2) (Erstwhile Known As Aayakar Bhavan, M.K. Vs. Goodlass Nerolac Paints Ltd.) Marg, Nerolac House, G.K. Marg, Mumbai-400020. Lower Parel, Mumbai-400013. Pan No. Aaacg1376N (Appellant) (Respondent) Assessee By : Mrs. Arati Vissanji, Ar Revenue By : Ms. Pooja Swaroop, Dr Date Of Hearing : 02/02/2018 Date Of Pronouncement: 19/03/2018

depreciation on H.O. assets to the exempt income. The 5th ground of appeal The CIT(A) erred in confirming the following