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)

1) or sub-section (3) of section 74, in so far as such loss relates to the business of the undertaking, shall be carried forward or set off where such loss relates to any of the relevant assessment years ending before the 1st day of April, 2001 ; (iii) no deduction shall be allowed under section 80HH or section 80HHA

DCIT-2(3), MUMBAI vs. M/S. ZENSAR TECHNOLOGIES LTD., MUMBAI

In the result, the appeal is partly allowed

Bench: Amit Shukla () & Ms. Padmavathy S. ()

1) of section 80A clearly states that in computing the total income of an assessee, there shall be allowed from his “gross total income”, the deductions specified in sections 80C to 80U. We are, therefore, of the considered view that the ratio laid down by the Hon’ble Supreme Court in Reliance Energy (supra) is clearly applicable to Assessee

DCIT-5(2)(1),MUMBAI, AAYAKAR BHAVAN vs. JSW STEEL COATED PRODUCTS LIMITED, MUMBAI

In the result, C.O. filed by assessee is\ndismissed as infructuous

sections 80A(6),\n80IA(8) with amended explanation, 92F(ii), Rule 10B etc. Therefore, these\ndecisions carrying precedent value cannot be lightly brushed aside by branding\nthem as per incuriam or having been rendered sub silentio of certain relevant\nprovisions, merely because they are against the revenue.\n46. Thus, upon considering the overall facts and circumstances of the case

DCIT, CIRCLE-1, , KALYAN vs. M/S ASB INTERNATIONAL PVT LTD, MUMBAI

In the result the appeal of the revenue stand dismissed

Bench: Amarjit Singh & Shri Sandip Singh Karhaildcit, C-1,Kalyan Vs. M/S. Asb International 1St Floor, Mohan Plaza, Pvt. Ltd. Mayale Naar, E9, E44, Addl. Kalyan(W)- 421301 Ambernath, Industrial Area, Anand Nagar, Ambernath Thane-421506 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaaca8424F Appellant .. Respondent C.O. No. 65/Mum/2023 (A.Y. 2009-10)

1) or sub-section (3) of section 74, in so far as such loss relates to the business of the undertaking, shall be carried forward or set off where such loss relates to any of the relevant assessment years ending before the 1st day of April, 2001; (ii) no deduction shall be allowed under section 80HH or section 80HHA

GROUP INDIA P. LTD,NAVI MUMBAI vs. DCIT (LTU), MUMBAI

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

depreciation on account of revaluation of assets referred to in clause (iia); or (iic) the amount of income, being the share of the assessee in the income of an association of persons or body of individuals, on which no income-tax is payable in accordance with the provisions of section 86, if any, such amount is credited

SI GROUP INDIA P. LTD,NAVI MUMBAI vs. DCIT (LTU), MUMBAI

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

depreciation on account of revaluation of assets referred to in clause (iia); or (iic) the amount of income, being the share of the assessee in the income of an association of persons or body of individuals, on which no income-tax is payable in accordance with the provisions of section 86, if any, such amount is credited

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

80A(1) stipulates that while computing the total income of the assessee, there shall be allowed from the gross total income, in accordance with and subject to the provisions of the chapter, the deduction specified in section 80C to 80U. Section 80B(5) defines the purposes of section VIA “gross total income” to mean the total income computed in accordance

DY. COMMISSIONER OF INCOME TAX 5(2)(1), MUMBAI, MUMBAI vs. JSW STEEL COATED PRODUCTS LIMITED, MUMBAI

In the result, appeal of the

Bench: Shri Pawan Singh & Shri Girish Agrawal

sections 80A(6), 80IA(8) with amended explanation, 92F(ii), Rule 10B etc. Therefore, these decisions carrying precedent value cannot be lightly brushed aside by branding them as per incuriam or having been rendered sub silentio of certain relevant provisions, merely because they are against the revenue. CO Nos. 257 & 258 /Mum/2024 M/s. JSW Steel Coated Products Limited 46. Thus

THE TATA POWER CO. LTD,MUMBAI vs. ITO RG 2(1)(1), MUMBAI

In the result, the appeal filed by the assessee company in ITA No

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3078/Mum/2009 ("नधा"रण वष" / Assessment Year : 2002-03) The Tata Power Co. Ltd, The Asst. Commissioner Of बनाम/ Corporate Center, Block ‘B, Income Tax- Circle V. 5 Th Floor, 2(3),Aayakar Bhavan, 34, Sant Tukaram Road, Maharshi Karve Road, Carnac Bunder, Mumbai – 400 020. Mumbai – 400 009. "थायी लेखा सं./Pan : Aaact0054A (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

depreciation of the new industry need not be taken into consideration once they have been set off from other sources of income earlier. In the present case, we are concerned with ITA 3078/Mum/2009 37 the provision of section 80-IA. The said provision was introduced by the Finance Act, 1999, with effect from April 1, 2000. The provisions of sections

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3(4) , MUMBAI vs. PATEL ENGINEERING LTD, MUMBAI

Bench: Sri Mahavir Singh, Jm & G. Manjunatha, Am Patel Engineering Ltd. The Dy. Commissioner Of Sv Road, Patel Estate, Income Tax, Cc-3(4),Room Jogeshwari (W), No. 1915, 19Th Floor Air Vs. Mumbai-400102 India Building, Nariman Point, Mumbai-400 021 Appellant .. Respondent Pan No. Aaacp2567L The Dy. Commissioner Of Patel Engineering Ltd. Income Tax, Cc-3(4),Room Sv Road, Patel Estate, No. 1915, 19Th Floor Air India Vs. Jogeshwari (W), Building, Nariman Point, Mumbai-400102 Mumbai-400 021 Appellant .. Respondent

depreciation in respect of such machinery or plant has plant by the assessee. Explanation 2.—Where in the case of an undertaking, any machinery or plant or any part thereof previously used for any purpose is transferred to a new business and the total value of the machinery or plant or part so transferred does not exceed twenty per cent

PATEL ENGINEERING LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3(4) , MUMBAI

Bench: Sri Mahavir Singh, Jm & G. Manjunatha, Am Patel Engineering Ltd. The Dy. Commissioner Of Sv Road, Patel Estate, Income Tax, Cc-3(4),Room Jogeshwari (W), No. 1915, 19Th Floor Air Vs. Mumbai-400102 India Building, Nariman Point, Mumbai-400 021 Appellant .. Respondent Pan No. Aaacp2567L The Dy. Commissioner Of Patel Engineering Ltd. Income Tax, Cc-3(4),Room Sv Road, Patel Estate, No. 1915, 19Th Floor Air India Vs. Jogeshwari (W), Building, Nariman Point, Mumbai-400102 Mumbai-400 021 Appellant .. Respondent

depreciation in respect of such machinery or plant has plant by the assessee. Explanation 2.—Where in the case of an undertaking, any machinery or plant or any part thereof previously used for any purpose is transferred to a new business and the total value of the machinery or plant or part so transferred does not exceed twenty per cent

GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD),MUMBAI vs. ADDL CIT LTU, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

depreciation of goodwill amounting to Rs. 33,42,442/- 13 Erred in allowing the claim of the assessee of sale of certified emission receipt relying on My home Power Ltd. [(2012) 27 taxmann.com 27] amounting to Rs. 6,02,00,000/- 14 Erred in directing to treat interest subsidy from TUF as capital in nature amounting

ASST CIT (LTU) 1, MUMBAI vs. GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

depreciation of goodwill amounting to Rs. 33,42,442/- 13 Erred in allowing the claim of the assessee of sale of certified emission receipt relying on My home Power Ltd. [(2012) 27 taxmann.com 27] amounting to Rs. 6,02,00,000/- 14 Erred in directing to treat interest subsidy from TUF as capital in nature amounting

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ADDL.COMMR.OF INCOME TAX, SPL. RG.32, MUMBAI

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) of the I.T. Act. were satisfied of the I.T. Act. were satisfied and jurisdiction was conferred on and jurisdiction was conferred on the Addl./Jt

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ACIT(OSD) RANGE 3(2), MUMBAI

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) of the I.T. Act. were satisfied of the I.T. Act. were satisfied and jurisdiction was conferred on and jurisdiction was conferred on the Addl./Jt

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) of the I.T. Act. were satisfied of the I.T. Act. were satisfied and jurisdiction was conferred on and jurisdiction was conferred on the Addl./Jt

NUCLEAR POWER CORPORATION OF INDIA LTD,MUMBAI vs. ADDL CIT RG 3(2), MUMBAI

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) of the I.T. Act. were satisfied of the I.T. Act. were satisfied and jurisdiction was conferred on and jurisdiction was conferred on the Addl./Jt

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) legal requirements as envisaged u/s. 120(1), 120(2) and 120(4)(b) of the I.T. Act. were satisfied of the I.T. Act. were satisfied and jurisdiction was conferred on and jurisdiction was conferred on the Addl./Jt