DCIT 10(3)(2), MUMBAI vs. PHOENIX MECANO (I) PLTD, MUMBAI

In the result, appeal of the Revenue is allowed

Bench: Shri Joginder Singh, Assessment Year:2011-12

depreciation. 20.2 With a view to rationalize the existing tax incentives in respect of such units, sub-section (6) in sections 10A and 10B

DEPUTY COMMISSIONER OF INCOME TAX 1(1)(2), MUMBAI vs. HINDUSTAN UNILEVER LIMITED, MUMBAI

section 10B - Internal Transfer\n12. erred in denying the exemption us 10B in respect of internal transfer of\nRs. 5,42,40,340/-on the ground that the internal transfer included in the sales\nhas no relevance to the export profit which is exempt u/s 10B of the Act.\n13. failed to appreciate that the internal transfer shown

HINDUSTAN UNILEVER LIMITED,MUMBAI vs. DY.CIT-1(1)(2), MUMBAI

section 10B - Internal Transfer\n12. erred in denying the exemption us 10B in respect of internal transfer of\nRs. 5,42,40,340/-on the ground that the internal transfer included in the sales\nhas no relevance to the export profit which is exempt u/s 10B of the Act.\n13. failed to appreciate that the internal transfer shown

M/S. CENTURY TEXTILES AND INDUSTRIES LTD,MUMBAI vs. THE ACIT RG 6(2), MUMBAI

The appeal of the assessee stands allowed

Bench: Shri Amit Shukla & Shri Rajesh Kumar

depreciation right from assessment year 1997-98 onwards. Further all the assessments for these years were completed under section 143(3). Not only that the modification in the quantum of deprecation on the claim made in the return of income has been duly scrutinized vis-à-vis the computation of deduction under section 10B

M/S. CENTURY TEXTILES AND INDUSTRIES LTD,MUMBAI vs. THE ACIT CIR 6(2), MUMBAI

The appeal of the assessee stands allowed

Bench: Shri Amit Shukla & Shri Rajesh Kumar

depreciation right from assessment year 1997-98 onwards. Further all the assessments for these years were completed under section 143(3). Not only that the modification in the quantum of deprecation on the claim made in the return of income has been duly scrutinized vis-à-vis the computation of deduction under section 10B

HINDUSTAN UNILEVER LTD,MUMBAI vs. ITO CIR 1(1)(4), MUMBAI

In the result, both the appeal of the assessee and the revenue are partly allowed

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

depreciation of tea unit in Dharwad for the purpose of section 80IB. Allocation of research & Development expenses and interest expenses and while determining the profits for the purpose of deduction under section 80IB – Ground No.5 & 6 14. The Assessing Officer during the course of assessment held that the outcome of the research expenditure is futuristic in nature in the manufacturing

ASST CIT CIR 1, KALYAN vs. ASB INTERNATIONAL P. LTD, AMBERNATH

In the result, appeals filed by the Revenue in ITA No

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.7034/Mum/2013 & 7035/Mum/2013 ("नधा"रण वष" / Assessment Years : 2004-05 & 2006-07) Asstt. Commissioner Of M/S Asb International बनाम/ Income Tax – Circle 1, Pvt. Ltd., V. Kalyan, E-9, Addl Ambernath Indl. 1St Floor,, Area, Mohan Plaza, Midc Anand Nagar, Wayale Nagar, Ambernath. Khadakpada, Kalyan. "थायी लेखा सं./Pan :Aaaca8424F .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

section 10B of the Act by Finance Act 2000 w.e.f. 01-04-2001. The A.O. has held that while computing deduction u/s 10B of the Act brought forward losses and unabsorbed depreciation

STRIDES ARCOLAB LTD,NAVI MUMBAI vs. ASST CIR 10(3), MUMBAI

In the result, the appeals assessee is partly allowed for statistical purposes

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Strides Shasun Limited The Asst. Commissioner Of (Formerly Known As Strides Income Tax Circle 10(3), Arcolab Limited) 201, Mumbai Vs. Devavrata, Sector 17, Vashi, Navi Mumbai-400 703 Appellant .. Respondent Pan No. Aadcs8104P

depreciation. Similarly, the Mumbai Tribunal also in the case of ISBC Consultancy Services Ltd. Vs. DCIT (2002) 88 ITD 134 (Mum) held that the customization of software amounted to manufacture and entitled to deduction under section 10A of the Act. In view of the above given facts and circumstances, we are of the view that the assessee is entitled

DCIT, CIRCLE-1, , KALYAN vs. M/S ASB INTERNATIONAL PVT LTD, MUMBAI

In the result the appeal of the revenue stand dismissed

Bench: Amarjit Singh & Shri Sandip Singh Karhaildcit, C-1,Kalyan Vs. M/S. Asb International 1St Floor, Mohan Plaza, Pvt. Ltd. Mayale Naar, E9, E44, Addl. Kalyan(W)- 421301 Ambernath, Industrial Area, Anand Nagar, Ambernath Thane-421506 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaaca8424F Appellant .. Respondent C.O. No. 65/Mum/2023 (A.Y. 2009-10)

depreciation 20.2 With a view to rationalize the existing tax incentives in respect of such units sub A-section (6) in sections 10A and 10B

GANESH POLYCHEM LTD,MUMBAI vs. ITO RG 10(3)(1), MUMBAI

In the result, appeal stands partly allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

depreciation before allowing exemption under section 10B of the Income Tax Act, 1961 (for short "the Act"). 6. Briefly stated

SULPHUR MILLS LTD,MUMBAI vs. ADDL CIT RG 8(3), MUMBAI

In the result, both the appeals of the assessee are partly allowed, as above

Bench: Shri G.S.Pannu & Shri Ram Lal Negi

section 10B of the Act:- 9 ITA No.107/MUM/2013(AY. 2009-10) Particualrs Amount (Rs.) Amount (Rs.) Sr.No. Disallwoances Expenses disallowed u/s 40(a) 283264 Donations 11078 Loss on Sale of Assets 839793 Legal and Professional fees on 556336 investments Depreciation

SULPHUR MILLS LTD,MUMBAI vs. ADDL CIT RG 8(3), MUMBAI

In the result, both the appeals of the assessee are partly allowed, as above

Bench: Shri G.S.Pannu & Shri Ram Lal Negi

section 10B of the Act:- 9 ITA No.107/MUM/2013(AY. 2009-10) Particualrs Amount (Rs.) Amount (Rs.) Sr.No. Disallwoances Expenses disallowed u/s 40(a) 283264 Donations 11078 Loss on Sale of Assets 839793 Legal and Professional fees on 556336 investments Depreciation

MOUNT MARY NAGARI CO OP CREDIT SOCIETY LIMITED ,MUMBAI vs. INCOME TAX OFFICER WARD 23(2)(3), MUMBAI, MUMBAI

In the result, the appeal preferred by the assessee is allowed for\nstatistical purposes

10B or section\n10BA or under any provision of this Chapter under the heading \"C.-\nDeductions in respect of certain incomes, no deduction shall be allowed\nto him thereunder.\n8. This section provides that where an assessee fails to make a claim in\nhis return of income for any deduction, amongst others, the sections\nenshrined in Part C to Chapter

FAIRFIELD ATLAS LTD,MUMBAI vs. DCIT (OSD) -I, MUMBAI

10B of the Act. As per the formula stated above, the entire profits of the business are to be taken which are multiplied by the ratio of the export turnover to the total turnover of the business. Sub-section (4) does not require an assessee to establish a direct nexus with the business of the undertaking and once an income

TECNIMONT ICB PVT. LTD,MUMBAI vs. THE ACIT,CIRCLE 9(3), MUMBAI

depreciation due to change in written down value should have been adopted on yearly basis, that for computation of book profit u/s.115JB the deduction u/s.10B should have been restricted to 90% of the profit of export oriented unit in view of the 2nd proviso to section 10B

GANESH POLYCHEM LTD,MUMBAI vs. ITO RG 10(3)(1), MUMBAI

The appeal of the assessee is disposed of in terms indicated hereinabove

Bench: Shri Joginder Singh & Shri Rajendraassessment Year-2010-11 Ganesh Polychem Limited, Ito, 2Nd Floor, Udyog Kshetra, Range-10(3)(1), बनाम/ Mumbai Mulund, Goregaon Link Vs. Road, Mumbai-400080 Pan No.Aabcg6160B ("नधा"रती / Assessee) (राज"व /Revenue)

depreciation before allowing exemption under section 10B of the Income Tax Act, 1961 (for short "the Act"). 3 Ganesh Polychem

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

depreciation\npertaining to the assessment year 2009-10 for carry forward and set off in\nthe year under consideration. As a result, ground no.8.1, raised in assessee's\nappeal, is allowed for statistical purposes.\nITA No.2458/Mum/2015 (A.Y. 2010-11)\n23\n24. Grounds no.8.2-8.4 were not pressed during the hearing. Accordingly,\nthe same are dismissed as not pressed.\n25. The issue

ACIT 8(1), MUMBAI vs. CELETRONIX INDIA P. LTD, MUMBAI

In the result the appeal of the revenue is dismissed and the cross-objection filed by the assessee is allowed

Bench: Shri Amit Shukla, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./I.T.A. No.5433/Mum/2009 (ननधधारण वषा / Assessment Year : 2003-04) बनधम/ Celetronix India Pvt Ltd, Asstt. Commissioner Of Income C/O Jabil Circuit (I) Pvt.Ltd., Tax -8(1), Vs. Arena House, 3Rd Floor, Plot No.103, Room No.210, 2Nd Floor, Road No.12, Opp Tunga Paradise, Aayaker Bhavan, Marol, Midc, Andheri (E), M K Road, Mumbai-400093 Mumbai-400020 स्थधयी ऱेखध सं./ Pan : Aaact7548K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. Cross-Objection No.81/Mum/2010 Arising Out Of I.T.A. No.5433/Mum/2009 (ननधधारण वषा / Assessment Year : 2003-04) Celetronix India Pvt Ltd, बनधम/ Asstt.Commissioner Of Income Tax 8(1), Vs. Mumbai-400020 (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

10B has to be read without the 12 CO No.81/M/2010 impugned sub-section (9). Therefore, we find much force in the stand taken by the assessee in view of the decision of the Supreme Court. Even on this issue, the assessee is bound to succeed. It is ordered accordingly" In the case of Allied Motors (P) Ltd (supra

WNS GLOBAL SERVICES P.LTD,MUMBAI vs. ASST CIT 10(2), MUMBAI

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

Bench: Shri M.Balaganesh & Shri Amarjit Singhwns Global Services Pvt. Ltd., Vs. Asst. Commissioner Of Gate No.4, Godrej & Boyce Income Tax- 10(2) Complex, Mumbai Pirojshanagar, Vikhroli (W) Mumbai – 400 079 Pan/Gir No.Aaacw2598L (Appellant) .. (Respondent)

10B and 10A of the Act being pari-materia . Respectfully following the aforesaid decision of the Hon'ble Karnataka High Court in the case of GE Thermometrics India Pvt. Ltd. (supra) we hold that there being no saving clause or any amendment while omitting sub-section (9) of section 10A of the Act, the result is that