M/S. PIK STUDIOS P. LTD (FORMERLY KNOWN AS PIK PEN PRIVATE LIMITED),MUMBAI vs. ITO 8(2)(4), MUMBAI

In the result, these appeals by the assessee stand dismissed

Bench: Shri Shamim Yahya & Shri Amarjit Singh.

255 ITR 26 (Guj). These decisions suggest for accepting the valuation report furnished by the assessee and depreciation should be granted on the enhanced cost of the asset. 9. Further, Ld Counsel for the assessee brought our attention to the fact that the CIT (A) erroneously invoked the 5th proviso to section 32(1) of the Act, when such proviso

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 ()

8. In the grounds raised ds raised before us, primarily two issues are primarily two issues are arising as under: M/s Gati Kintetsu Express Pvt. Ltd. M/s Gati Kintetsu Express Pvt. Ltd. (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising

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 ()

8. In the grounds raised ds raised before us, primarily two issues are primarily two issues are arising as under: M/s Gati Kintetsu Express Pvt. Ltd. M/s Gati Kintetsu Express Pvt. Ltd. (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising

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 ()

8. In the grounds raised ds raised before us, primarily two issues are primarily two issues are arising as under: M/s Gati Kintetsu Express Pvt. Ltd. M/s Gati Kintetsu Express Pvt. Ltd. (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising

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 ()

8. In the grounds raised ds raised before us, primarily two issues are primarily two issues are arising as under: M/s Gati Kintetsu Express Pvt. Ltd. M/s Gati Kintetsu Express Pvt. Ltd. (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising (i) Disallowance of depreciation on intangible and goodwill arising

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 was claimed on BSE membership? (b) Whether indexation benefit on sale of such share would

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

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar, Vice Preside & Shri Sandeep Singh Karhail

8. Since, similar issue has already been decided in assessee’s own case for preceding assessment year, therefore, we see no reason to deviate from the view so taken by the coordinate bench of the Tribunal, in absence of any allegation of change in facts and law. Accordingly, findings of the learned CIT(A) are upheld in this regards

RELIANCE INDUSTRIES LTD.,MUMBAI vs. ASSTT. CIT-CC-3(4), MUMBAI

In the result, appeal by the Revenue is dismissed

Bench: Shri Pramod Kumar, Vice Preside & Shri Sandeep Singh Karhail

8. Since, similar issue has already been decided in assessee’s own case for preceding assessment year, therefore, we see no reason to deviate from the view so taken by the coordinate bench of the Tribunal, in absence of any allegation of change in facts and law. Accordingly, findings of the learned CIT(A) are upheld in this regards

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

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

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

8 382/mum/2016 (Assessment Year 2011-12) 24 months,that based on valuation report of independent valuer it had valued the aforesaid right(to use brands), as revenue expenditure,that the payment made by the assessee was not for acquisition of brand name itself,that it did not acquire ownership of CIBA brand,that it did not have exclusive right over

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

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

depreciation\non alleged capital expenditure were made under the\nnormal provisions of the Act as well as under Section\n115JB of the Act while computing the book profits.\n101. In relation to the disallowances made while\ncomputing book profits, the ld. AR submitted that\nClause (iia) of Explanation 1 to Sec. 115JB invoked by\nthe ld. AO is not applicable

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

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

depreciation\non alleged capital expenditure were made under the\nnormal provisions of the Act as well as under Section\n115JB of the Act while computing the book profits.\n101. In relation to the disallowances made while\ncomputing book profits, the ld. AR submitted that\nClause (iia) of Explanation 1 to Sec. 115JB invoked by\nthe ld. AO is not applicable

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)

8). Accordingly, the Honble Kerala High Court, by following the decision rendered by the Honble Supreme Court in the case of Berger Paints Ltd Vs. CIT (266 ITR 99), has further held that the Revenue having not challenged the correctness of the law laid down by the Calcutta High Court, it is not open to the Revenue to challenge