VIR ALLOYS AND STEEL COMPANY PRIVATE LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX CIRCLE 11(3)(2), MUMBAI, MUMBAI

In the result, both appeals of the assessee are allowed for In the result, both appeals of the assessee are allowed for statistical purposes, with directions as aforesaid

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Section 147 disallowed additional depreciation of ₹37,41,179/-, reducing the ra additional depreciation of , reducing the rate from the 30

VIR ALLOYS AND STEEL COMPANY PRIVATE LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX CIRCLE 11(3)(2), MUMBAI, MUMBAI

In the result, both appeals of the assessee are allowed for In the result, both appeals of the assessee are allowed for statistical purposes, with directions as aforesaid

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

Section 147 disallowed additional depreciation of ₹37,41,179/-, reducing the ra additional depreciation of , reducing the rate from the 30

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

depreciation has been allowed in the first year itself and which is deemed as short term capital gain under Section 50 of the Income Tax Act relying upon the judgment of this Court in the case of CIT V/s. Ace Builders (P.) Limited([2005] 144 Taxman 855/281 ITR 210 (Bombay)) even though the said decision was rendered in the context

TATA COMMUNICATIONS LIMITED,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX, MUMBAI

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

Bench: Shri Saktijit Dey & Shri Arun Khodpiatata Communications Limited Pr. Cit, Videsh Sanchar Bhavan, Mumbai-1 Vs. M. G. Road, Fort, Mumbai-400 001 Pan/Gir No. Aaacv 2808 C (Appellant) : (Respondent) Appellant By : Shri J. D. Mistri Respondent By : Shri Ritesh Misra, Cit Dr Date Of Hearing : 25.09.2025 Date Of Pronouncement : 25.09.2025 O R D E R Per Saktijit Dey: The Present Appeal, At The Instance Of The Assessee, Assails Order Dated 21.03.2025, Passed U/S. 263 Of The Income Tax Act, 1961 (‘The Act’ For Short), By Learned Principal Commissioner Of Income Tax (‘Ld. Pcit’ For Short), Pertaining To The Assessment Year (A.Y.) 2018-19. 2. Though The Assessee Has Raised Multiple Grounds, Both On Jurisdictional Issues As Well As On Merits, However, There Is Consensus Between The Parties That The Appeal Can Be Decided On Merits, In Which Event, There Is No Need To Go Into Various Other Issues Raised In Appeal.

depreciation has been allowed in the first year itself and which is deemed as short term capital gain under Section 50 of the Income Tax Act relying upon the judgment of this Court in the case of CIT V/s. Ace Builders (P.) Limited(281 ITR 210) even though the said decision was rendered in the context of eligibility of deduction

DCIT 8(2), MUMBAI vs. KHANNA HOTEL P.LTD, MUMBAI

depreciation, the held that contention of the assessee with regard to section 71 permitting setting off of business loss against STCG and LTCG was incorrect, that provisions of section 71 (3)did not allow set off of capital loss against business income,that the intention of the legislature was that assessee should not get benefit of paying taxes at lower

ACIT 421 MUMBAI, MUMBAI CITY vs. SAMIR NARAIN BHOJWANI, MUMBAI

Appeal of the assessee is allowed for statistical purposes and the\nappeal of the revenue is dismissed

30,85,161\n1,40,000\n18,40,00,703\n10.\nSubsequently the assessee recovered the said amount by selling the flats for a\nconsideration of Rs.21 cr. to its sister concern M/s Jivesh Developers & Properties\nPvt. Ltd. and in the books of account reflected a sum of Rs.2,59,99,297/-\n(Rs.21,00,00,000 less Rs.18

DCIT 4(3)(1), MUMBAI vs. RELIANCE TRANSPORT AND TRAVELS P.LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri S. Rifaur Rahman: A.Y : 2013-14 Asst. Commissioner Of Income Vs. M/S. Reliance Transport & Tax – 4(3)(1), Travels Pvt. Ltd., Mumbai (Appellant) 6Th Floor, Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai 400 020. Pan : Aaacr2380M (Respondent)

30,28,80,078 R.3,73,438/-) Capital gains as per section 50(2) of the Act 19,09,32,707 15. The helicopter was purchased on 31.10.2006 and the same was sold on 25.03.2013 and, therefore, the period of holding was more than 3 years. Since the block became Nil, the provisions of Section

DEUTSCHE INDIA PVT. LTD.(EARLIER KNOWN AS 'DBOI GLOBAL SERVICES PVT. LTD.),MUMBAI vs. ACIT-1(3)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for 16

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

30 provides deduction on repairs, municipal tax andinsurance premiums.  Section 31, provides deduction on repairs and insurance ofplant, machinery and furniture.  Section 32 provides for depreciation

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

section 144C(5) of the\nAct, rejected the objections filed by the assessee on this issue on the basis\nthat the assessee has not explained why such a claim was not made by filing\na revised return. Accordingly, the action of the AO in not entertaining the claim\nof the assessee was upheld. In conformity, the AO passed the impugned

B. ARUNKUMAR CAPITAL & CREDIT SERVICES PVT LTD ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX 3, MUMBAI

In the result the appeal filed by the assessee stands partly\nallowed

30 provides deduction on repairs, municipal tax and insurance\npremiums.\n• Section 31, provides deduction on repairs and insurance of plant,\nmachinery and furniture\n• Section 32 provides for depreciation

GLITCH MEDIA PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 1(3)(1), MUMBAI

In the result the appeal filed by the assessee stands partly\nallowed

30 provides deduction on repairs, municipal tax and insurance\npremiums.\n• Section 31, provides deduction on repairs and insurance of plant,\nmachinery and furniture\n• Section 32 provides for depreciation

ABM KNOWLEDGEWARE LIMITED,MUMBAI vs. ASSESSING OFFICER CIRCLE 4(1)(1), MUMBAI

In the result, the appeal filed by the assessee stands partly\nallowed

30 provides deduction on repairs, municipal tax and insurance\npremiums.\n• Section 31, provides deduction on repairs and insurance of plant,\nmachinery and furniture\n• Section 32 provides for 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

30 to 36 of the Act are an allowable deduction u/s 80G of the Act. 6.1 In the case of Deputy Commissioner of Income-tax vs. Gabriel India Ltd. [2025] 173 taxmann.com 219 (Mumbai-Trib.)[13-03-2025], it was held as under: 7. After giving a thoughtful consideration to the orders of the authorities below

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

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

depreciable. Whether other sections of the Act restrict depreciation in case of goodwill acquired during amalgamation, was not an issue before Hon'ble SC and therefore the decision of Hon'ble SC should not be extended to such issues which it never decided. 2.5. Further, it is submitted that in the case of Rameshwar Lal Sanwarmal v. CIT 122 ITR1

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

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

depreciable. Whether other sections of the Act restrict depreciation in case of goodwill acquired during amalgamation, was not an issue before Hon'ble SC and therefore the decision of Hon'ble SC should not be extended to such issues which it never decided. 2.5. Further, it is submitted that in the case of Rameshwar Lal Sanwarmal v. CIT 122 ITR1

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)

30 provides deduction on repairs, municipal tax and insurance premiums. • Section 31, provides deduction on repairs and insurance of plant, machinery and furniture Section 32 provides for depreciation

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)

30 provides deduction on repairs, municipal tax and insurance premiums. • Section 31, provides deduction on repairs and insurance of plant, machinery and furniture Section 32 provides for depreciation

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)

30 provides deduction on repairs, municipal tax and insurance premiums. • Section 31, provides deduction on repairs and insurance of plant, machinery and furniture Section 32 provides for depreciation