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 ()

section 32 of the Act. The issue whether Goodwill arising on transfer is eligible for depreciation or not, is arising on transfer is eligible for depreciation or not, is no longer Res- Integra, and has been settled by the Integra, and has been settled by the Hon'ble SC in the case of Smifs Hon'ble SC in the case

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 ()

section 32 of the Act. The issue whether Goodwill arising on transfer is eligible for depreciation or not, is arising on transfer is eligible for depreciation or not, is no longer Res- Integra, and has been settled by the Integra, and has been settled by the Hon'ble SC in the case of Smifs Hon'ble SC in the case

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

section 32 of the Act. The issue whether Goodwill arising on transfer is eligible for depreciation or not, is arising on transfer is eligible for depreciation or not, is no longer Res- Integra, and has been settled by the Integra, and has been settled by the Hon'ble SC in the case of Smifs Hon'ble SC in the case

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

255(4) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’): “(a) Whether cost of shares allotted to members of Bombay Stock Exchange (BSE) pursuant to its corporatisation/de-mutualisation would be calculated as per section 50 or section 55(2)(ab) if depreciation

IDEA CELLULAR LTD,MUMBAI vs. PR. CIT 14, MUMBAI

In the result, the appeal of assessee is allowed

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am Idea Cellular Limited Principal Commissioner Of 10Th Floor, Birla Centurion, Income Tax-14, Century Mills Compound, 469, Aayakar Bhavan, M.K. Vs. Pandurang Budhkar Marg, Marg, Worli, Mumbai-400 030 Mumbai-400 020 Appellant .. Respondent Pan No. Aaacb2100P

depreciation was claimed by the assessee under section 32(l) of the Act on the cost of 3G Spectrum and allowed by the AO. Ld. Counsel explained that Wireless spectrum in the context of telecom industry refers to electromagnetic radiation and frequency bands. The wireless Spectrum frequencies used in communication regulated by the national organizations, which specify which frequency ranges

ADITYA BIRLA FINANCE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME-TAX - 2(1)(1), MUMBAI

In the result, the appeal is partly allowed

255 ITR 26, the facts and\ncircumstances of which are similar to the present case, wherein the Hon'ble HC\nallowed the claim of depreciation on goodwill arising on acquisition of business under\nslump sale model, reiterating the decision of the Hon'ble SC in the case of Smifs\nSecurities (Supra).\n12.5 Whether the assessee is entitled to claim depreciation

HUNTSMAN INTERNATIONAL (INDIA) P.LTD,MUMBAI vs. DCIT 10(1)(1), MUMBAI

The appeal of the assessee is partly allowed, that of Revenue is dismissed

Bench: Shri G.S.Pannu & Shri Amarjit Singhm/S.Huntsman International (India) Private Limited, B-Wing, Lighthall, Hiranandani Business Park, Saki Vihar Road, Mumbai 400 072 Pan: Aaach9149J ...... Appellant Vs. The Dcit, 10(1)(1), Mumbai. .... Respondent The Dcit, 10(1)(1), Mumbai. ..... Appellant

depreciation u/s. 32(1)(ii) of the Act,that the expression any other business or commercial rights of similar nature used in section 32 of the Act had not been defined or explained in the Act, that the agreement was made for a period of five years, that the distribution network developed by CIBA-India was crucial to achieve

EVEREST INDUSTIRES LTD,NEW DELHI vs. JCIT RG 1, MUMBAI

In the result, the appeal of the revenue is treated as allowed and the appeal of the assessee is treated as partly allowed

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

depreciation in foreign currency held by him on conversion from another currency, such profit and loss would ordinary be trading loss if the foreign currency held by the assessee on revenue account as trading asset or as a part of circulating capital embargo in business. However, if the foreign currency is held as a capital asset, the loss should

ACIT, MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed whereas the cross-objection of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2014-15 Acit, Reliance Industries Ltd., Room No. 559, 5Th Floor, 3Rd Floor Maker Chamber Iv, Aayakar Bhavan, New Marine Vs. Nariman Point, S.O. Lines, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent

section 147 mandates that there must be failure on the part of the assessee to fully and truly disclose all material facts. No such failure has been established in the reasons recorded by the AO. The reliance placed solely on subsequent year findings does not meet the statutory threshold for reopening in such cases. 10.10 Further, the reopening

DCIT-3(4), MUMBAI vs. M/S RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

depreciation relatable to the steel purchases claimed by the assessee in both the years under consideration. Accordingly, this ground raised by the assessee in both the years are dismissed. 7. Ground Nos. 4 to 6 raised by the assessee in both the years relate to disallowance under section 14A, r.w. Rule 8D of I T Rules. 7.1 The details relating

RELIANCE INDUSTRIES LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX CIRCLE-3(4), MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

depreciation relatable to the steel purchases claimed by the assessee in both the years under consideration. Accordingly, this ground raised by the assessee in both the years are dismissed. 7. Ground Nos. 4 to 6 raised by the assessee in both the years relate to disallowance under section 14A, r.w. Rule 8D of I T Rules. 7.1 The details relating

RELIANCE INDUSTRIES LTD.,MUMBAI vs. ACIT CIRCLE 3(4), MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

depreciation relatable to the steel purchases claimed by the assessee in both the years under consideration. Accordingly, this ground raised by the assessee in both the years are dismissed. 7. Ground Nos. 4 to 6 raised by the assessee in both the years relate to disallowance under section 14A, r.w. Rule 8D of I T Rules. 7.1 The details relating

DCIT- 3(4) , MUMBAI vs. M/S RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

depreciation relatable to the steel purchases claimed by the assessee in both the years under consideration. Accordingly, this ground raised by the assessee in both the years are dismissed. 7. Ground Nos. 4 to 6 raised by the assessee in both the years relate to disallowance under section 14A, r.w. Rule 8D of I T Rules. 7.1 The details relating

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)

255 and decision of the Tribunal in the case of Maruti Ltd. JCIT 2006, 105 TTJ Del 764. Therefore, the AO held that the act of the assessee company in claiming exemption amounting to ₹ 30,17,33,419/- u/s 10B of the Act without first adjusting and setting off the unabsorbed depreciation and/or brought forward business losses is neither logical

MAHADHAN AGRITECH LIMITED (FORMERLY KNOWN AS SMARTCHEM TECHNOLOGIES LIMITED ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -8(1), MUMBAI

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

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

depreciation on alleged capital expenditure were made under the normal provisions of the Act as well as under Section 115JB of the Act while computing the book profits. 101. In relation to the disallowances made while computing book profits, the ld. AR submitted that Clause (iia) of Explanation 1 to Sec. 115JB invoked by the ld. AO is not applicable

MAHADHAN AGRITECH LIMITED (FORMERLY KNOWN AS SMARTCHEM TECHNOLOGIES LTD ,MUMBAI vs. COMMISSIONER OF INCOME TAX(APPEAL)--50, MUMAI

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

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

depreciation on alleged capital expenditure were made under the normal provisions of the Act as well as under Section 115JB of the Act while computing the book profits. 101. In relation to the disallowances made while computing book profits, the ld. AR submitted that Clause (iia) of Explanation 1 to Sec. 115JB invoked by the ld. AO is not applicable

DCIT CENTRAL CIRCLE 8(1), MUMBAI vs. MAHADHAN AGRITECH LIMITED, PUNE

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

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

depreciation on alleged capital expenditure were made under the normal provisions of the Act as well as under Section 115JB of the Act while computing the book profits. 101. In relation to the disallowances made while computing book profits, the ld. AR submitted that Clause (iia) of Explanation 1 to Sec. 115JB invoked by the ld. AO is not applicable

MAHADHAN AGRITECH LIMITED (FORMERLY KNOWN AS SMARTECH TECHNOLOGIES LTD ,MUMBAI vs. COMMISSIONER OF INCOME TAX (APPEALS)-MUMBAI.50, MUMBAI

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

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

depreciation on alleged capital expenditure were made under the normal provisions of the Act as well as under Section 115JB of the Act while computing the book profits. 101. In relation to the disallowances made while computing book profits, the ld. AR submitted that Clause (iia) of Explanation 1 to Sec. 115JB invoked by the ld. AO is not applicable