WIND WORLD WIND RESOURCES DEVELOPMENT P. LTD,MUMBAI vs. PR CIT -2, MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No(S).2370/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2007-08) Wind World India Infrastructure Pvt. Ltd. Principal Cit(C)-2, बिधम/ A-9, Enercon Tower, Veera Desai Road, Veera Mumbai Vs. Industrial Estate, Andheri (W), Mumbai-400053 स्थामीरेखासं./ जीआइआयसं./ Pan/Gir No. Aabce5226C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

Section 263 of the „Act‟. It was submitted by the Ld. D.R that as the business of generation or generation and distribution of power had been brought within the sweep of Sec. 32(1)(iia), vide the „Finance Act, 2012‟ w.e.f. 01.04.2013, therefore, the assessee would not be entitled to claim the additional depreciation

WIND WORLD WIND RESOURCES DEVELOPMENT P. LTD,MUMBAI vs. PR CIT -2, MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No(S).2370/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2007-08) Wind World India Infrastructure Pvt. Ltd. Principal Cit(C)-2, बिधम/ A-9, Enercon Tower, Veera Desai Road, Veera Mumbai Vs. Industrial Estate, Andheri (W), Mumbai-400053 स्थामीरेखासं./ जीआइआयसं./ Pan/Gir No. Aabce5226C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

Section 263 of the „Act‟. It was submitted by the Ld. D.R that as the business of generation or generation and distribution of power had been brought within the sweep of Sec. 32(1)(iia), vide the „Finance Act, 2012‟ w.e.f. 01.04.2013, therefore, the assessee would not be entitled to claim the additional depreciation

J.N INVESTMENT & TRADING CO. P.LTD,MUMBAI vs. PR CIT 2, MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No(S).2370/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2007-08) Wind World India Infrastructure Pvt. Ltd. Principal Cit(C)-2, बिधम/ A-9, Enercon Tower, Veera Desai Road, Veera Mumbai Vs. Industrial Estate, Andheri (W), Mumbai-400053 स्थामीरेखासं./ जीआइआयसं./ Pan/Gir No. Aabce5226C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

Section 263 of the „Act‟. It was submitted by the Ld. D.R that as the business of generation or generation and distribution of power had been brought within the sweep of Sec. 32(1)(iia), vide the „Finance Act, 2012‟ w.e.f. 01.04.2013, therefore, the assessee would not be entitled to claim the additional depreciation

WIND WORLD INDIA INFRASTRUCTURE P.LTD,MUMBAI vs. PR CIT -2, MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No(S).2370/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2007-08) Wind World India Infrastructure Pvt. Ltd. Principal Cit(C)-2, बिधम/ A-9, Enercon Tower, Veera Desai Road, Veera Mumbai Vs. Industrial Estate, Andheri (W), Mumbai-400053 स्थामीरेखासं./ जीआइआयसं./ Pan/Gir No. Aabce5226C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

Section 263 of the „Act‟. It was submitted by the Ld. D.R that as the business of generation or generation and distribution of power had been brought within the sweep of Sec. 32(1)(iia), vide the „Finance Act, 2012‟ w.e.f. 01.04.2013, therefore, the assessee would not be entitled to claim the additional depreciation

ABBOTT INDIA LTD,MUMBAI vs. ASST CIT CIR 2(1), MUMBAI

In the result, assessee’s appeal in ITA No 3472/Mum/2013 and ITA No

Bench: Shri Mahavir Singh & Shri Ramit Kochar

Section 32(1)(iia), as it stood at the relevant assessment year, is under; Depreciation. 32• (1) In respect of depreciation

ABOTT INDIA LTD,MUMBAI vs. ASST CIT CIR 2(1), MUMBAI

In the result, assessee’s appeal in ITA No 3472/Mum/2013 and ITA No

Bench: Shri Mahavir Singh & Shri Ramit Kochar

Section 32(1)(iia), as it stood at the relevant assessment year, is under; Depreciation. 32• (1) In respect of depreciation

GRASIM INDUSTRIES LTD.,MUMBAI vs. DCIT RANGE 6(3), MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

32(1)(iia) of the IT Act. In the facts and circumstances of the case, the twin conditions of the acquired and installed shall never be satisfied in a year and therefore, the assessee shall never get any depreciation. The purpose and object of granting additional depreciation under Section

DCIT CIR 6(3), MUMBAI vs. M/S. GRASIM INDUSTRIES LTD., MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

32(1)(iia) of the IT Act. In the facts and circumstances of the case, the twin conditions of the acquired and installed shall never be satisfied in a year and therefore, the assessee shall never get any depreciation. The purpose and object of granting additional depreciation under Section

DCIT 14(3)(1), MUMBAI vs. THIRVANTHAPURAM ROAD DEVELOPMENT COMPANY LTD, MUMBAI

Appeal of the assessee is disposed of in terms of the order in ITA

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 Thiruvananthapuram Road Dcit-14(3)(1), Development Company Ltd. बनाम/ (Earlier Dcit-10(1), The Il & Fs Financial Centre, Room No.455, 4Th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aacct0547J Assessment Year: 2010-11 Dcit-14(3)(1), Thiruvananthapuram Road (Earlier Dcit-10(1), Development Company Ltd. बनाम/ Room No.455, 4Th Floor, The Il & Fs Financial Vs. Aayakar Bhavan, Centre, Plot No.C-22, M. K. Road, G Block, Bandra Kurla Mumbai-400020 Complex, Bandra (East), Mumbai-400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aacct0547J

32. (1) In respect of depreciation of— (i) buildings, machinery, plant or furniture, being tangible assets; (ii) know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, owned, wholly or partly, by the assessee and used for the purposes

THIRUVANANTHAPURAM ROAD DEVELOPMENT CO. LTD,ORRISSA vs. DCIT 14(3)(1), MUMBAI

Appeal of the assessee is disposed of in terms of the order in ITA

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 Thiruvananthapuram Road Dcit-14(3)(1), Development Company Ltd. बनाम/ (Earlier Dcit-10(1), The Il & Fs Financial Centre, Room No.455, 4Th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aacct0547J Assessment Year: 2010-11 Dcit-14(3)(1), Thiruvananthapuram Road (Earlier Dcit-10(1), Development Company Ltd. बनाम/ Room No.455, 4Th Floor, The Il & Fs Financial Vs. Aayakar Bhavan, Centre, Plot No.C-22, M. K. Road, G Block, Bandra Kurla Mumbai-400020 Complex, Bandra (East), Mumbai-400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aacct0547J

32. (1) In respect of depreciation of— (i) buildings, machinery, plant or furniture, being tangible assets; (ii) know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, owned, wholly or partly, by the assessee and used for the purposes

DCIT CEN CIR 3(3) CEN RG 3, MUMBAI vs. WELSPUN CORP LTD, MUMBAI

In the result, appeal filed by the assesee and appeal filed by the revenue are partly allowed for statistical purpose

Bench: Shri G. Manjunatha & Shri Ram Lal Negim/S Welspun Corp Ltd. Vs. Dcit,Central Circle-22 Room No.465, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan Kamla Mills Compound M.K.Road Senapati Bapat Marg Mumbai-400 020 Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent) & Dcit,Central Circle-3(3) Vs. M/S Welspun Corp Ltd. Room No.401, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan M.K.Road Kamla Mills Compound Mumbai-400 020 Senapati Bapat Marg Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent)

depreciation on the cost of Plant &. Machinery of Rs. 1,64,23,35,348/- purchased in the preceding previous year. The addition made lo the income of the Appellant is incorrect and invalid. b) The Ld. CIT(A) Tailed to appreciate that after the amendment of section 32(1)(iia

WELSPUN CORP LTD,MUMBAI vs. DCIT CEN CIR 22, MUMBAI

In the result, appeal filed by the assesee and appeal filed by the revenue are partly allowed for statistical purpose

Bench: Shri G. Manjunatha & Shri Ram Lal Negim/S Welspun Corp Ltd. Vs. Dcit,Central Circle-22 Room No.465, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan Kamla Mills Compound M.K.Road Senapati Bapat Marg Mumbai-400 020 Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent) & Dcit,Central Circle-3(3) Vs. M/S Welspun Corp Ltd. Room No.401, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan M.K.Road Kamla Mills Compound Mumbai-400 020 Senapati Bapat Marg Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent)

depreciation on the cost of Plant &. Machinery of Rs. 1,64,23,35,348/- purchased in the preceding previous year. The addition made lo the income of the Appellant is incorrect and invalid. b) The Ld. CIT(A) Tailed to appreciate that after the amendment of section 32(1)(iia

WELSPUN CORP LTD,MUMBAI vs. DCIT CEN CIR 22, MUMBAI

In the result, the appeals filed by the revenue are dismissed and the appeals filed by the assessee are partly allowed for statistical purposes

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadale

depreciation on the cost of Plant & Machinery of 1,64,23,35,348/- and 78,09,11,306/- purchased in the previous years relevant to A.Ys.2006-07 and 2007-08 respectively. b) The ld. CIT(A) failed to appreciate that after the amendment of section 32(1)(iia

ASST CIT LTU, MUMBAI vs. AMBUJA CEMENTS LTD, MUMBAI

In the result, the appeal of the revenue is dismissed

1)(iia) inserted by Finance (No. 2) Act, 1980 and reinserted by Finance Act, 2002 it is evident that the said sections specifically restricted the allowability of additional depreciation in the year of installation of P&M. However, in the section 32

JT. CIT. CIR.RG.8(2)(OSD), MUMBAI vs. M/S. LOTUS ENERGY (INDIA) LTD., MUMBAI

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri Amit Shukla & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 7530/Mum/2011 ("नधा"रण वष" / Assessment Year : 2006-07) Jt. Cit Cir. 8(2), M/S Lotus Energy (India) बनाम/ R. No. 216-A, Ltd., V. Aayakar Bhavan, 214, Laxmi Plaza, M.K. Road, Laxmi Industrial Estate, Mumbai -. Andheri (W), Mumbai 53. "थायी लेखा सं./Pan : Aabcl 0119K (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

iia) of section 32 of the Act. The requirement of creating a minimum increase of 10 percent in installed capacity for availing the initial depreciation is also proposed to be eliminated. We have also observed that section 32(1

INDIAN OIL CORPORATION LTD.,MUMBAI vs. ADDL. CIT - 10 (1), MUMBAI

In the result, cross objection filed by the assessee is dismissed

depreciation, there is no question of add or subtract a word from the provisions of section. The provisions of section 32(1)(iia

GRASIM BHIWANI TEXTILES LTD,MUMBAI vs. ASST CIT CIR 4(2), MUMBAI

In the result, appeal for A

depreciation. Thus, in accordance with the provisions of section 32(1 )(iia) and the second proviso to section 32(1

DCIT- CC - 7(3), MUMBAI vs. ACG ASSOCIATED CAPSULES PVT. LTD., MUMBAI

In the result, no question of law arises

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

iia) of subsection 1 of Section 32 of the Act. Clause (ii) of sub-section 1 of Section 32 of the Act recognizes the depreciation