GATI KINTETSU EXPRESS PRIVATE LIMITED,MUMBAI vs. DY.COMMISSIONER OF INCOME , CIRLCE 14(1)(2)TAX, MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

depreciation on the amount of the goodwill recorded in the books of depreciation on the amount of the goodwill recorded in the books of depreciation on the amount of the goodwill recorded in the books of accounts of the assessee under the BTA between the assessee and accounts of the assessee under the BTA between the assessee and accounts

GATI KINTETSU EXPRESS PRIVATE LIMITED ,MAHARASHTRA AND MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MAHARASHTRA AND MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

depreciation on the amount of the goodwill recorded in the books of depreciation on the amount of the goodwill recorded in the books of depreciation on the amount of the goodwill recorded in the books of accounts of the assessee under the BTA between the assessee and accounts of the assessee under the BTA between the assessee and accounts

TECHNO SHARES & STOCKS LTD,MUMBAI vs. ADDL CIT RG 4(2), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Shri G.S. Pannu() : A.Y : 2008-09

Section 55(2)(ab) of the Act inserted by the Finance Act 2003, with effect from 1-4-2004 provided that cost of the trading or 4 Techno Shares & Stocks Ltd. clearing right of the recognized stock exchange shall be deemed to be Nil. 6. From the assessment year 2006-07 onwards, the assessee has not claimed any depreciation

DY CIT 9 (1)(2), MUMBAI vs. SABMILLER INDIA LTD (NOW KNOWN AS ANHEUSER BUSCH INBEV INDIA LTD), MUMBAI

In the result, the assessee’s cross objection is partly allowed

Bench: Shri S. Rifaur Rahman & Shri Ravish Sood

depreciation under section 40(a)(i) of the Act for non–deduction of TDS under section 195 r/w section 200

KJMC CAPITAL MARKET SERVICES LTD,MUMBAI vs. DCIT 4(3), MUMBAI

In the result, appeal and cross objections of the assessee are allowed and the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2008-09

200/- and after claiming the index cost of acquisition of Rs.1,52,30,017/- from the sales consideration ,the long term capital gain was computed at Rs. 1,79,77,183/-. The assessee was a holder of BSE membership card which was purchased in May 2000 for a value of Rs.2,50,90,000/- and thereafter the assessee claimed

ACIT 16(1), MUMBAI vs. HINDUSTAN THOMPSON ASSOAICATES P. LTD, MUMBAI

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1206 /Mum/2018 (नििाारण वर्ा / Assessment Year: 2012-13) बिाम/ Assistant Commissioner Of Hindustan Thompson Income-Tax, Circle 16(1) Associates Private Room No. 439, 4 Th Floor, Limited V. Aayakar Bhawan 4Th Floor, M.K.Marg , Churchgate Peninsula Chambers, Mumbai-400 020 Ganpat Rao Kadam Marg, Lower Parel(W), Mumbai-400013 स्थायी ऱेखा सं./ Pan: Aaach1463M (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri. B. Srinivas (Cit-Dr) Assessee By: Smt. Aarti Vissanji &, Shri. Ajit C. Shah & Ms. Aastha Shah सुनवाई की तारीख /Date Of Hearing : 27.02.2019 घोषणा की तारीख /Date Of Pronouncement : 23.05.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 1206/Mum/2018, Is Directed Against Appellate Order Dated 12.12.2017, Passed By Learned Commissioner Of Income Tax (Appeals)-4, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year(Ay) 2012-13, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 23.03.2016 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) R.W.S. 144C(3) Of The Income- Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2012-13. I.T.A. No.1206 /Mum/2018

200 and in accordance with the other provisions of Chapter XVII-B, It is also proposed to provide that where in respect of payment of any sum, tax has been deducted under Chapter XVII-B or paid in any subsequent year, the sum of payment shall be allowed in computing the income of the previous year in which such

DCIT-2(3), MUMBAI vs. M/S. ZENSAR TECHNOLOGIES LTD., MUMBAI

In the result, the appeal is partly allowed

Bench: Amit Shukla () & Ms. Padmavathy S. ()

200 Less : Depreciation granted vide order u/s 143(3) For AY 2003-04 15,84,480 Less: Depreciation @60% thereon 6,33,792 26 ITA 5653/Mum/2009 M/s Zensar Technologies Ltd The Ld.CIT(A) after considering the submission of the Assessee directed the Assessing Officer to grant the depreciation to Assessee. 24. The Ld.DR submitted that the depreciation claim for STPI

VIACOM 18, MEDIA PVT LTD ,MUMBAI vs. PCIT-8, MUMBAI

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 142(1) of the Act dated 19/08/2021(PB-18) raised following query: “8. With respect to depreciation claimed during the year, kindly provide the following details: 1. Detail of the asset/block ii) Opening WDV iii) Addition and deletion during the year iv) Depreciation charged on assets/block T v) Detail of additional depreciation claimed, if any along with the justification

GATI KINTETSU EXPRESS PVT. LTD,MAHARASHTRA AND MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MAHARASHTRA AND MUMBAI

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

depreciation on the amount of the goodwill recorded in the books of accounts of the assessee under the BTA between the assessee and the Gati Ltd. The ground Nos. 2.1 and 2.2 of the appeal are accordingly allowed. 12. The ground Nos. 3.1 and 3.3 of the appeal of the assessee relates to deduction disallowed of Rs.53

JSW STEEL LIMITED,MUMBAI vs. ADDLCIT, BANGALORE

858/M/2011

Bench: Shri Om Prakash Kant () & Shri Amarjit Singh () Assessment Year: 2007-08 Jsw Steel Limited, The Addl. Cit, Range 11, Jindal Mansion, 5A, Vs. Bangalore. Dr. G. Deshmukh Marg, Mumbai-400026. Pan No. Aaacj 4323 N Appellant Respondent Assessment Year: 2007-08 Dc. Cc.46, M/S Jsw Steel Ltd., R.No. 659, 6Th Floor, Aayakar Vs. Jindal Mansion, 5-A, Dr. G Bhavan, M.K. Road, Deshmukh Marg, Mumbai-20. Mumbai-400026. Pan No. Aaacj 4323 N Appellant Respondent Assessment Year: 2007-08 M/S Jsw Steel Ltd., Dcit, Central Circle 46, Jsw Centre, Bandra Kurla Vs. 6Th Flr., Aayakar Bhavan, M.K. Complex, Road, Mumbai-400051. Mumbai-400020. Pan No. Aaacj 4323 N Appellant Respondent

depreciation of Rs.5,79,08,466/- on increased WDV of assets, without appreciating the reasons discussed by the AO in the assessment order. 4. On the facts and in the circumstances of the case and in law the Ld. CIT(A) erred in holding that interest of Rs. 7,26,71,000/- is assessable as 'Business Income' and not 'Income

ACIT 17(1), MUMBAI vs. ELVE CORPORATION, MUMBAI

Bench: Shri Joginder Singh & Shri Ramit Kochar

depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies. Section 35 deals with expenditure on scientific research, section 35AB deals with expenditure on know-how and section 35ABB deals with expenditure for obtaining licence to operate telecommunication services. Section 35AC deals with expenditure on eligible projects or schemes and section 35AD deals with deduction

ACIT 17(1), MUMBAI vs. ELVE CORPORATION, MUMBAI

Bench: Shri Joginder Singh & Shri Ramit Kochar

depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies. Section 35 deals with expenditure on scientific research, section 35AB deals with expenditure on know-how and section 35ABB deals with expenditure for obtaining licence to operate telecommunication services. Section 35AC deals with expenditure on eligible projects or schemes and section 35AD deals with deduction

ROOPAM P. BHARTIYA,MUMBAI vs. ITO 14(3)(4), MUMBAI

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.4537/Mum/2016 ("नधा"रण वष" / Assessment Year : 2011-12) Shri Roopam P. Bhartiya, Income Tax Officer – बनाम/ 146, Krishna Bhavan, 14(3)(4), V. 2 Nd Floor, Mumbai. Room No. 15, Dr. Vighas Street, Kalbadevi Road, Mumbai – 400 002. "थायी लेखा सं./Pan : Adxpb 6346A (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

200 in the instant case), he would still go scot free, without suffering the consequences of such monetary default in spite of specific provisions laying down these consequences. The Punjab & Haryana High Court has exhaustively interpreted Section 40(a(ia) keeping in mind different aspects. We would again quote the following paragraphs from the said judgment, with our complete approval

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

200 1999-2000 1,63,45,57,220 2000-2001 1,07,19,26,287 2001-2002 97,57,411 While allowing benefit of unabsorbed depreciation for A Ys 1997-98 to 2000-01 as per details given above, the Assessing Officer has not examined whether amount of above mentioned unabsorbed depreciation included any depreciation pertaining to Century Yarn unit

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

200 1999-2000 1,63,45,57,220 2000-2001 1,07,19,26,287 2001-2002 97,57,411 While allowing benefit of unabsorbed depreciation for A Ys 1997-98 to 2000-01 as per details given above, the Assessing Officer has not examined whether amount of above mentioned unabsorbed depreciation included any depreciation pertaining to Century Yarn unit

PFIZER LTD.,MUMBAI vs. THE ACIT-14(2)(2), MUMBAI

In the result appeal of the ld AO for assessment year

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

depreciation to the assessee with respect to the Thane plant for both the years. Accordingly, ground numbers 6 to 8 of the appeal of the assessee for Ay 2015-16 and Ground no 3 for AY 2016-17 are allowed. 031. For assessment year 2015 – 16, Ground number 9-13 are with respect to the disallowance of expenses related

DCIT - 14(2)(2), MUMBAI vs. M/S PFIZER LTD., MUMBAI

In the result appeal of the ld AO for assessment year

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

depreciation to the assessee with respect to the Thane plant for both the years. Accordingly, ground numbers 6 to 8 of the appeal of the assessee for Ay 2015-16 and Ground no 3 for AY 2016-17 are allowed. 031. For assessment year 2015 – 16, Ground number 9-13 are with respect to the disallowance of expenses related

PFIZER LIMITED,MUMBAI vs. ACIT-14(2)(2), MUMBAI

In the result appeal of the ld AO for assessment year

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

depreciation to the assessee with respect to the Thane plant for both the years. Accordingly, ground numbers 6 to 8 of the appeal of the assessee for Ay 2015-16 and Ground no 3 for AY 2016-17 are allowed. 031. For assessment year 2015 – 16, Ground number 9-13 are with respect to the disallowance of expenses related