ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 115JB of the Act. ile computing book profit under section 115JB of the Act. ile computing book profit under section 115JB of the Act. 23. This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT

ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 115JB of the Act. ile computing book profit under section 115JB of the Act. ile computing book profit under section 115JB of the Act. 23. This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 115JB of the Act. ile computing book profit under section 115JB of the Act. ile computing book profit under section 115JB of the Act. 23. This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 115JB of the Act. ile computing book profit under section 115JB of the Act. ile computing book profit under section 115JB of the Act. 23. This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT(A) This ground was raised by the assessee before the Ld.CIT

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.

45 is a charging section and sections 48 and 49 are the machinery sections for computation of capital gains. However, Section 50 carves out an exception in respect of depreciable

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

45 is a charging section and sections 48 and 49 are the machinery sections for computation of capital gains. However, Section 50 carves out an exception in respect of depreciable

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)

45 is a charging section and sections 48 and 49 are the machinery sections for computation of capital gains. However, Section 50 carves out an exception in respect of depreciable

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

45 is a charging\nsection and sections 48 and 49 are the machinery sections for computation of\ncapital gains. However, Section 50 carves out an exception in respect of\ndepreciable assets and provides that where depreciation

ISC SPECIALITY CHEMICALS LLP ,MUMBAI vs. ITO WARD 19(1)(5), MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

depreciation is not available to the successor LLP. It is proposed that the transfer of assets on conversion of a company into an LLP in accordance with section 56 and section 57 of the Limited Liability Partnership Act, 2008 shall not be regarded as a transfer for the purposes of capital gains tax under section 45

SUNBEAM MONOCHEM P. LTD.,MUMBAI vs. PR. CIT (A)-8, MUMBAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.624/Mum/2021 (निर्धारण वर्ा / Assessment Years: 2015-16) Sunbeam Monochem Pvt. बिधम/ Pcit-8 Ltd. Room No. 611, 6Th Floor, Vs. 201/B, Runwal & Omkar Aayakar Bhavan, Esquare, Opp Sion Maharshi Karve Road, Chunabhatti Signal, Eastern Mumbai-400020. Express Highway, Sion East, Mumbai-400022. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabcs8172P (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Devendra Jain Revenue By: Shri Byomakesh Pradipta Kumar Panda (Dr) सुनवाई की तारीख / Date Of Hearing: 28/12/2022 घोषणा की तारीख /Date Of Pronouncement: 10/03/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Appeal Preferred By The Assessee Is Against The Order Of The Ld. Principal Commissioner Of Income Tax-8 [Hereinafter Referred To As The “Pcit”], Mumbai Dated 26.02.2021 For Assessment Year 2015- 16 Passed Under Section 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As “The Act”).

depreciable assets, which says that STCG shall be the difference between full value of consideration and opening WDV of block of assets. As per proviso (1A) of section 45

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

45,00,000/- and claimed depreciation of Rs.1,81,36,734/-. ……. 6. The ld. A.O. did not agree with the contention of the assessee and held that based on the provision of section

CYFAST ENTERPRISES P.LTD,MUMBAI vs. DCIT CIR 10(3), MUMBAI

The appeal of the Revenue is allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year:2011-12 Cyfast Enterprises Pvt. Ltd. Dcit, Afl House, Circle-10(3), बनाम/ Lok Bharati Complex, Aayakar Bhavan, Vs. Marol Maroshi Road, M.K. Road, Andheri (East), Mumbai-400020 Mumbai-400059 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacu4945K "नधा"रती क" ओर से / Assessee By Shri Nitesh Joshi & Shri Sunil Jhunjhunwala राज"व क" ओर से / Revenue By Shri Anandi Verma-Cit-Dr

45 is attracted only if the asset transferred falls with in the definition of `Capital assets’ as per section 2(14). Such capital assets 7 Cyfast Enterprises Pvt. Ltd. in case of a business enterprise can be ordinarily classified into four broad categories, viz., (i) Depreciable

ASST CIT CIR 1, KALYAN vs. ASB INTERNATIONAL P. LTD, AMBERNATH

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

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.7034/Mum/2013 & 7035/Mum/2013 ("नधा"रण वष" / Assessment Years : 2004-05 & 2006-07) Asstt. Commissioner Of M/S Asb International बनाम/ Income Tax – Circle 1, Pvt. Ltd., V. Kalyan, E-9, Addl Ambernath Indl. 1St Floor,, Area, Mohan Plaza, Midc Anand Nagar, Wayale Nagar, Ambernath. Khadakpada, Kalyan. "थायी लेखा सं./Pan :Aaaca8424F .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

45). Hence, the income eligible for exemption under section 10A would not enter into computation as the same has to be deducted at source level. 2nd substantial question of law 20. Prior to the introduction of sub-section (6) of sections 10A and 10B of the Finance Act, 2000, which came into effect from April 1, 2001, in computing

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

45 of the Act. The cost of the new asset acquired by the assessee is to be determined as per Section 55(2)(ab) of the Act. 15. Section 55(2)(ab) of the Act provides for the cost of acquisition of the assets - Cost of acquisition of shares of BSE Ltd. is specifically provided in Section

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 assets being commercial flats situated at unit no. 24-26, Pearl Center, Dadar, Mumbai computed in the manner laid down in Section 50 of the 1961 Act read with Section 48, 49 and 45

MOHD RAZA AKBERALI GHUGHARIA,MUMBAI vs. ITO 15(2)(3), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2005-06 Mohd Raza Akberali Ito 15(2)(3), Ghugharia, Matru Mandir Tardeo, बनाम/ M/S. N.S. Virani & Co., C.A. S Mumbai-400034 Vs. 28, Bhanushali Bldg. 35, Mint Road, Mumbai-400001 (Assessee) (Revenue) P.A. No.Aabpg3107B "नधा"रती क" ओर से / Assessee By Shri Vijay Mehta & Shri Anuj Kisnadwala. (Ar) Shri K. V. Vispure ( Dr) राज"व क" ओर से / Revenue By 27/04/2016 सुनवाई क" तार"ख / Date Of Hearing : आदेश क" तार"ख /Date Of Order: 01/07/2016

depreciable asset under section 54E cannot be denied by referring to the fiction created under section 50. Section 54E specifically provides that where capital gain arising on transfer of a long term capital asset is invested or deposited (whole or any part of the net consideration) in the specified assets, the assessee shall not be charged to capital gains. Therefore

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED,THANE vs. DEPUTY COMMISSIONER OF INCOME TAX - 14(1)(2), MUMBAI

section 45 of\nthe Act. Therefore, we are of the view that these provisions have no\nrelevance to the facts of the present case.\n26. The Revenue, vide its written submissions, has relied upon certain\njudicial pronouncements, which have been dealt with hereunder: -\n(a) We find that the decision in Borkar Packaging Pvt. Ltd. v/s ACIT,\nreported

M/S. CRODA INDIA COMPANY PVT. LTD,MUMBAI vs. THE PR. COMM OF INCOME TAX, MUMBAI-6

In the result, the appeal of the assessee is allowed

45,03,800/-. The assessment was completed u/s 143(3) of the Act on 18/12/2019 determining total income of the assessee at Rs 64,43,67,550/- after making disallowance u/s 35(2AB) of the Act in the sum of Rs 62,90,501/- and disallowance u/s 14A of the Act in the sum of Rs 35,73,246/-. This