DCIT CEN CIR 34, MUMBAI vs. PRISM CEMENT LTD, MUMBAI

Appeals are disposed of in terms

Bench: Shri Joginder Singh & Shri Rajendra

Section 43A contemplates recomputation of the cost of the assets for the purposes of depreciation [Sections 32 and 43(1)], and also

ITO 5(1)(3), MUMBAI vs. CGU LOGISTIC LTD, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Rajendraassessment Year: 2011-12 Ito-5(1)(3), M/S Cgu Logistic Ltd. Room No.569, 5Th Floor, 3Rd Floor, Prospect बनाम/ Aayakar Bhavan, Chambers, D.N. Road, Fort Vs. Mumbai-400020 Mumbai-400001 Pan No. Aaccc8880B (राज"व /Revenue) ("नधा"रती /Assessee)

depreciation to WDV method, that provisions of section 43A were not applicable as the assessee had opted for Tonnage tax ,that

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

section 43A and if the assessee claims relief under Chapter VI-A of the Act, then it is not open to the assessee to disclaim depreciation

JSW STEELS LTD,MUMBAI vs. DCIT CC 8(3), MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

DCIT CC 8(3)(ERSTWHILE DCIT,CC-46, MUMBAI vs. JSW STEELS LTD, MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

JSW STEEL LIMITED,MUMBAI vs. ACIT,CC-46, MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

JSW STEELS LTD,MUMBAI vs. DCIT CC 8(3), MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

JSW STEELS LTD,MUMBAI vs. DCIT CC 8(3), MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

DCIT CC 8(3), MUMBAI vs. JSW STEELS LTD, MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

DCIT CC 8(3)(ERSTWHILE DCIT,CC-46, MUMBAI vs. JSW STEELS LTD, MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

DCIT CC 8(3), MUMBAI vs. JSW STEELS LTD, MUMBAI

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

section 43A of the Act, and consequently, depreciation should be allowed on the same. 6.5.2. We find that ITAT, Mumbai

DCIT 9(2)(2), MUMBAI vs. CREDILA FINANCIAL SERVICES P.LTD, MUMBAI

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1491/Mum/2016 (नििाारण वर्ा / Assessment Year: 2012-13) बिाम/ Dcit 9(2)(2) Credila Financial Services R.No. 665A, 6 T H Floor, Private Ltd., Aayakar Bhavan, Mk Road, B-301 Citi Point, V. Mumbai-400020 Next To Kohinoor Continental Andheri Kurla Road, Andheri(E), Mumbai 400056 स्थायी ऱेखा सं./ Pan : Aaccc8789P (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent)

depreciation is concerned. The assessee succeeds so far as this ground raised by the assessee being ground no. 2 in the CO filed with the tribunal. We order accordingly. 7.15Now, we will take up the provisions of Section 79 of the 1961 Act so far as carry forward and set off of business losses are concerned. To resolve controversy

ACIT, CIRCLE - 3 3 1, MUMBAI vs. JAMNAGAR UTILITIES AND POWER PVT LTD, MUMBAI

In the result, both the appeals of the Revenue are allowed\npartly

depreciation and development rebate.\nSection 35 grants deduction on expenditure for scientific research\nand knowledge extension in natural and applied sciences under\nagriculture, animal husbandry and fisheries. Payment to approved\nuniversities/research institutions or company also qualifies for\ndeduction. In-house R&D is eligible for deduction, under this section.\nSection 35CCD provides deduction for skill development projects,\nwhich constitute

ACIT, CIRCLE - 3 3 1, MUMBAI vs. JAMNAGAR UTILITIES AND POWER PVT LTD, MUMBAI

In the result, both the appeals of the Revenue are allowed\npartly

depreciation and development rebate.\nSection 35 grants deduction on expenditure for scientific research\nand knowledge extension in natural and applied sciences under\nagriculture, animal husbandry and fisheries. Payment to approved\nuniversities/research institutions or company also qualifies for\ndeduction. In-house R&D is eligible for deduction, under this Section.\nSection 35CCD provides deduction for skill development projects,\nwhich constitute

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)

section 43A of the Act. Learned Departmental Representative also placed reliance on the decision rendered by the Bangalore Bench of the ITAT in the case of Bangalore International Airport Ltd. (ITA No. 510/Bang/2014 dated 27.9.2016), wherein it was held that adjustment on account of foreign exchange rate fluctuation is required to be made to actual cost. 49. We have heard

ADVANI HOTELS & RESORTS (INDIA) LTD,MUMBAI vs. ITO WD 3(1)(1), MUMBAI

In the result, subject our observations made above, the assessee’s appeals for A

Bench: Shri B.R. Baskaran & Shri Sanjay Gargassessment Year: 2004-05 Assessment Year: 2005-06 Assessment Year: 2009-10 M/S. Advani Hotels & Resorts Dy. Commissioner Of Income (India) Ltd., Tax, Circle -3(1), 6Th Floor, Room No.607 18A & 18B, Jolly Maker Vs. Chambers Ii, Aayakar Bhavan, Nariman Point, M.K. Road, Mumbai – 400 021 Mumbai - 400020 Pan: Aaacr 6389Q (Appellant) (Respondent) Assessment Year: 2009-10 Dy. Commissioner Of Income M/S. Advani Hotels & Resorts Tax, Circle -3(1), (India) Ltd., Room No.607, 6Th Floor, Vs. Jolly Maker -Ii, 18A & 18B, Aayakar Bhavan, 225, Nariman Point, Mumbai - 400020 Mumbai – 400 021 Pan: Aaacr 6389Q (Appellant) (Respondent)

depreciation on fixed assets without reducing the aforesaid foreign exchange fluctuation gain adjusted by the appellant under section 43A of the Act. 3. On the facts

DCIT CIR 3(1), MUMBAI vs. ADVANI HOTELS & RESORTS LTD, MUMBAI

In the result, subject our observations made above, the assessee’s appeals for A

Bench: Shri B.R. Baskaran & Shri Sanjay Gargassessment Year: 2004-05 Assessment Year: 2005-06 Assessment Year: 2009-10 M/S. Advani Hotels & Resorts Dy. Commissioner Of Income (India) Ltd., Tax, Circle -3(1), 6Th Floor, Room No.607 18A & 18B, Jolly Maker Vs. Chambers Ii, Aayakar Bhavan, Nariman Point, M.K. Road, Mumbai – 400 021 Mumbai - 400020 Pan: Aaacr 6389Q (Appellant) (Respondent) Assessment Year: 2009-10 Dy. Commissioner Of Income M/S. Advani Hotels & Resorts Tax, Circle -3(1), (India) Ltd., Room No.607, 6Th Floor, Vs. Jolly Maker -Ii, 18A & 18B, Aayakar Bhavan, 225, Nariman Point, Mumbai - 400020 Mumbai – 400 021 Pan: Aaacr 6389Q (Appellant) (Respondent)

depreciation on fixed assets without reducing the aforesaid foreign exchange fluctuation gain adjusted by the appellant under section 43A of the Act. 3. On the facts

ADVANI HOTELS & RESORTS (INDIA) LTD,MUMBAI vs. ITO WD 3(1)(1), MUMBAI

In the result, subject our observations made above, the assessee’s appeals for A

Bench: Shri B.R. Baskaran & Shri Sanjay Gargassessment Year: 2004-05 Assessment Year: 2005-06 Assessment Year: 2009-10 M/S. Advani Hotels & Resorts Dy. Commissioner Of Income (India) Ltd., Tax, Circle -3(1), 6Th Floor, Room No.607 18A & 18B, Jolly Maker Vs. Chambers Ii, Aayakar Bhavan, Nariman Point, M.K. Road, Mumbai – 400 021 Mumbai - 400020 Pan: Aaacr 6389Q (Appellant) (Respondent) Assessment Year: 2009-10 Dy. Commissioner Of Income M/S. Advani Hotels & Resorts Tax, Circle -3(1), (India) Ltd., Room No.607, 6Th Floor, Vs. Jolly Maker -Ii, 18A & 18B, Aayakar Bhavan, 225, Nariman Point, Mumbai - 400020 Mumbai – 400 021 Pan: Aaacr 6389Q (Appellant) (Respondent)

depreciation on fixed assets without reducing the aforesaid foreign exchange fluctuation gain adjusted by the appellant under section 43A of the Act. 3. On the facts