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

section 50 and concept of a long term capital asset. 29. Again in another judgment Hon'ble Bombay High Court in Pursarth Trading Co. Pvt Ltd. (supra), the Hon'ble High Court upheld the set off of a long term capital loss against gain arising from the depreciable

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

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

29 to 43 especially section 32(2) and sub-section (3) of section 32A in the case on hand. He was of the view that the orders are erroneous and prejudicial to the interest of the revenue, insofar as the exemption under section 10B was allowed on an inflated amount without deducting the unabsorbed depreciation

JEWELEX INDIA PRIAVTE LIMITED,MUMBAI vs. DCIT CIRCLE-14(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarjewelex India Private V/S. Deputy Commissioner Of Limited बनाम Income Tax, Circle – 401 Trade Centre, Bandra 14(1)(1), Aayakar Bhavan, Kurla Complex, Bandra Maharishi Karve Marg, (East), Mumbai – 400 098, Mumbai – 400 020, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcj4523H Appellant/अपीलार्थी .. Respondent/प्रतिवादी

29,964/- debited to the statement of profit and loss under section 37 of the Act. DRP rejected the claim of the assessee by saying that the donation is pursuant to the CSR policy of the company and lacks the test of voluntariness as required under section 80G. The AO has disallowed the claim on the ground that anything donation

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

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,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 ()

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

VODAFONE INDIA LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX - 8, MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri R.C. Sharma, Am & Shriramlal Negi, Jm Vodafone India Ltd., Principal Commissioner Of Income Peninsula Corporate Park, Tax-8, Vs. Ganpatrao Kadam Marg, Lower Room No. 611, Aayakar Bhavan, M.K. Parel, Mumbai-400013. Road, Mumbai, Maharastra, Pin- 400020. Pan: Aaach 5332 B Appellant) .. Respondent)

Section 35ABB of the Act and has upheld the allowability of depreciation u/s 32 of the Act. 27. We further observed that in the instant submissions filed by the Revenue, no particular submissions have been made on this aspect of the ITA 3327/MUM/2018 Vodafone India Limited vs Pr. CIT, Mumbai matter, thereby accepting that on the merits, the issue stands

DCIT-2(3)(1), MUMBAI vs. KOTAK MAHINDRA BANK LTD, MUMBAI

In the result, **appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar**

depreciable assets has categorically held that the provisions of section 50C are equally applicable to asset forming a block of asset as well. This finding is contrary to the contentions of the assessee as stated above paras. This decision though given in the context of section 50 of the Act,has not been appreciated either the assessee or the Revenue

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

29 of the Act which forms part of Chapter IV states that: "Income from profits and gains of business or profession, how computed.— The income referred to in section 28 shall be computed in accordance with the provisions contained in sections 30 to 43C." These sections include, inter alia, deduction of depreciation

NUTECH ENGINEERING TECHNOLOGIES LIMITED,MUMBAI vs. ACIT, CIRCLE-10(3)(1), MUMBAI

The appeal of the appellant is dismissed

Bench: Shri Amit Shukla (Jm) & Shri Omkareshwar Chidara (Am)

29,69,366/-. The learned Assessing Officer (AO for short) issued a show-cause notice asking the appellant as to why Long term capital gains should not be treated as short term capital gains as per section 50 of the Income Tax Act (Act for short) as the capital asset sold was a depreciable

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

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2009-10 Thermo Fisher Scientific India Dy. Cit-15(3)(1), Pvt. Ltd., Room No. 360, Aayakar Vs. 403-404, ‘B’ Wing, Delphi, Bhavan, New Marine Lines, Hiranandani Business Park, Mumbai-400020. Mumbai-400076. Pan No. Aabct 3207 A Appellant Respondent

section 43(6) of the Act, which reads as under: 2 to section 43(6) of the Act, which reads as under: 2 to section 43(6) of the Act, which reads as under: “Explanation 2.— —Where in any previous year, any block of assets is Where in any previous year, any block of assets is transferred

VODAFONE IDEA LTD.,MUMBAI vs. PR CIT -5, MUMBAI

Bench: Shri Kuldip Singh & Shri Amarjit Singhassessment Year: 2015-16

29 December 2017 passed by learned AO is neither ‘erroneous’ nor ‘prejudicial’ to the interest of the revenue. Also, the Mumbai ITAT vide its order dated 6 December 2017 (ITA No. 360/Mum/2016) has quashed the proceedings u/s 263 of the Act in AY 2011-12 and held that the VIL has rightly claimed tax depreciation under section

KOVALAM RESORT PRIVATE LIMITED ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX 2(1)(1), MUMBAI

In the result, the appeal of the assessee for Assessment Year

Bench: Shri Anikesh Banerjee & Shri Makarand Vasant Mahadeokar1. Ita No. 6580/Mum/2025 (Assessment Year: 2012-13) 2. Ita No. 6578/Mum/2025 (Assessment Year: 2013-14) & 3. Ita No. 6579/Mum/2025 (Assessment Year: 2014-15) Kovalam Resort Private Dcit 2(1)(1), Limited 561, Aayakar The Leela, Sahar, Andheri Vs. Bhavan, M. K. East, Mumbai-400 059 Road, Mumbai- 400 020 Pan/Gir No. Aaeck4804H (Applicant) (Respondent) Assessee By Shri Dharan Gandi & Shri Ravi Gupta, Ld. Ars Revenue By Shri Ritesh Misra, Ld. Dr Date Of Hearing 22.01.2026 Date Of Pronouncement 30.01.2026

section 143(3) vide order dated 30.03.2015. 5. During the course of assessment proceedings, it was noticed that the assessee had acquired Hotel Leela, Kovalam as a going concern under slump sale from M/s Hotel Leela Ventures Ltd. The assessee claimed depreciation aggregating to Rs. 25,86,15,073/- on the assets so acquired. The Assessing Officer then examined

KOVALAM RESORT PRIVATE LIMTIED ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX 2(1)(1), MUMBAI

In the result, the appeal of the assessee for Assessment Year

Bench: Shri Anikesh Banerjee & Shri Makarand Vasant Mahadeokar1. Ita No. 6580/Mum/2025 (Assessment Year: 2012-13) 2. Ita No. 6578/Mum/2025 (Assessment Year: 2013-14) & 3. Ita No. 6579/Mum/2025 (Assessment Year: 2014-15) Kovalam Resort Private Dcit 2(1)(1), Limited 561, Aayakar The Leela, Sahar, Andheri Vs. Bhavan, M. K. East, Mumbai-400 059 Road, Mumbai- 400 020 Pan/Gir No. Aaeck4804H (Applicant) (Respondent) Assessee By Shri Dharan Gandi & Shri Ravi Gupta, Ld. Ars Revenue By Shri Ritesh Misra, Ld. Dr Date Of Hearing 22.01.2026 Date Of Pronouncement 30.01.2026

section 143(3) vide order dated 30.03.2015. 5. During the course of assessment proceedings, it was noticed that the assessee had acquired Hotel Leela, Kovalam as a going concern under slump sale from M/s Hotel Leela Ventures Ltd. The assessee claimed depreciation aggregating to Rs. 25,86,15,073/- on the assets so acquired. The Assessing Officer then examined

FRANK S INTERNATIONAL ITL LIMITED,MUMBAI vs. ACIT(IT), CIRCLE (2)(3)(1), MUMBAI, MUMBAI

In the result, the question of law referred to the Special Bench is answered in favour of the\nassessee

29,57315\nNIL\nNIL\n15295257\n137661583\n2019-20\n137661583\nNIL\nNIL\n137661583\nNIL\nNIL\n8. The ld. AO relied on the provision of Section 50(1) of the Act, and treated the same as\nshort term capital gain. The ld. AO also distinguished the decision relied upon by the\nassessee by stating that the decisions are pertaining to long term

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

29 of the Act which forms part of Chapter IV states that: "Income from profits and gains of business or profession, how computed.— The income referred to in section 28 shall be computed in accordance with the provisions contained in sections 30 to 43C." These sections include, inter alia, deduction of depreciation

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 has to be treated as Long term capital asset, it is entitled to the benefit of section 54F of the Act. In the above case, Delhi High Court had relied on the case of CIT vs. ACE Builders [281 ITR 210 (Bom), CIT vs Assam Petroleum Industries (P) Ltd. [262 ITR 587] Ld. CIT vs. Delite Tin Industries