BANDEKAR BROTHERS PRIVATE LIMITED,VASCO-DA-GAMA, GOA vs. ASSISTANT COMMISSIONER OF INCOME TAX, PANAJI, GOA

The appeal of the assessee is PARTLY ALLOWED in aforestated terms

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Years: 2013-14 Bandekar Brothers Pvt. Ltd. Post Box No. 11, Suvarna Bandekar Bldg., Swatantra Path, Vasco-Da-Gama Goa-403802 Pan: Aaacb5502B . . . . . . . Appellant V/S Asstt. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa. . . . . . . . Respondent Represented Assessee By: Mr Pramod & Mr Shriniwas Deshpande [‘Ld. Ar’] Revenue By: Mr M Satish & Mr Renga Rajan [‘Ld. Dr’] Date Of Conclusive Hearing : 12/01/2026 Date Of Pronouncement : 11/02/2026 Order Per G. D. Padmahshali; This Assessee’S Appeal Filed U/S 253(1) Of The Income-

1) is pari-materia of section 2(11) to cover both tangible and intangible assets for depreciation. ITAT-Panaji Page 37 of 39 M/s Bandekar Brothers Pvt. Ltd. Vs ACIT ITA No. 038/PAN/2025 AY: 2013-14 37. Section 32 of the Act on the other hand, allows a deduction for depreciation on tangible (buildings, furniture & fixture and Plant & machinery

M/S R. S. SHETYE & BROS,PANAJI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), PANAJI

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

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.37/Pan/2023 (A.Y.2016-17) R.S.Shetye & Bros, Vs Acit 1(1), Flat.No.14, 1 St Floor, Aaykar Bhavan, . Trionara Apartments, Edc, Patto, New Muncipal Market, Panjim Panaji- Goa-403001. Goa-403001. Pan .No.Aabfr9785N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

D PADMAHSHALI ACCOUNTANT MEMBER I T A. No.37/PAN/2023 (A.Y.2016-17) R.S.Shetye & Bros, Vs ACIT 1(1), Flat.No.14, 1 st Floor, Aaykar Bhavan, . Trionara apartments, EDC, Patto, New Muncipal Market, Panjim Panaji- Goa-403001. Goa-403001. PAN .No.AABFR9785N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.R.K.Pikale.AR Revenue by Shri.Satish.M. CIT-DR सुनवाई की तारीख/Date of Hearing 12.01.2026 घोषणा की तारीख

SALGAOCAR MINING INDUSTRIES PVT. LTD,PANAJI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1, MARGAO

The appeal of the assessee is PARTLY ALLOWED in aforestated terms

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Years: 2006-2007 M/S Salgaocar Mining Industries Pvt Ltd. Salgaonkar Bhava, Altino, Panaji, Goa-403001. Pan: Aabcs8862N . . . . . . . Appellant V/S Dy. Commissioner Of Income Tax, Circle-1, Margao, Goa. . . . . . . . Respondent Represented Assessee By: Mr Sukhsagar Syal [‘Ld. Ar’] Revenue By: Ms Rijjula Uniyal [‘Ld. Dr’] Date Of Conclusive Hearing : 20/01/2026 Date Of Pronouncement : 29/01/2026 Order Per G. D. Padmahshali; This Assessee’S Appeal Filed U/S 253(1) Of The Income- Tax Act, 1961 [‘The Act’] Impugns The Order Dt. 20/03/2025 Passed U/S 250 Of The Act By Commissioner Of Income Tax(Appeals-2), Panaji [‘Ld. Cit(A)’] Which In Turn Dealt With Order Dt. 20/12/2011 Passed U/S 144 Of The Act By Dcit, Circle-1, Margao Goa [‘Ld. Ao’] Anent To Assessment Year 2006-07.[‘Ay’]

D. PADMAHSHALI; This assessee’s appeal filed u/s 253(1) of the Income- tax Act, 1961 [‘the Act’] impugns the order dt. 20/03/2025 passed u/s 250 of the Act by Commissioner of Income Tax(Appeals-2), Panaji [‘Ld. CIT(A)’] which in turn dealt with order dt. 20/12/2011 passed u/s 144 of the Act by DCIT, Circle-1, Margao

SMT BERTHA D'COSTA,CAVELOSSIM, GOA vs. INCOME TAX OFFICER, WARD -2, MARGAO

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

Bench: Shri Pavan Kumar Gadalei T A. Nos.158 &159/Pan/2019 (A.Y. 2015-16 ) Shri.Julio D Costa, Vs Ito-Ward-2, H.No.337,Mobor,Cavelossim, Blessings Pioneer Salcete,Goa-403731. Complex, (Pan:Aewpd6709F) Old Market, Margoa-403601,Goa. Smt.Bertha D Costa, Ito-Ward-2, Vs H.No.337,Mobor,Cavelossim, Blessings Pioneer Salcete,Goa-403731. . Complex, (Pan:Aewpd6748N) Old Market, Margoa-403601,Goa. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Shrinivas Nayak.Ar Revenue By Smt.Manju Thakur.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.09.2025 घोषणा की तारीख/Date Of Pronouncement 15.09.2025 Order Per Pavan Kumar Gadale, Jm: These Two Appeals Are Filed By The Assesses (Husband & Wife) Against The Separate Orders Of The Cit(A) -1 Panaji Passed U/Sec143(3) & U/Sec 250 Of The Act. The Assesses Are Governed By The Portuguese Civil Code & Provisions Of Section 5A Of The Act. 2. Since The Issues Involved In These Two Appeals Are Common & Identical, Hence They Are Clubbed, Heard & Aconsolidated Order Is Passed. For The Sake Of Convenience

section 44AD of the Act u/sec139(1) of the Act nor revised return of income was filed and this is the first time such claim was made for this assessment year only in comparison to earlier assessment years and these facts are not disputed by the Ld.AR. Hence considering the submissions and material placed in the course of hearing, this

SHRI JULIO D'COSTA,CAVELOSIM, GOA vs. INCOME TAX OFFICER, WARD -2, MARGAO

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

Bench: Shri Pavan Kumar Gadalei T A. Nos.158 &159/Pan/2019 (A.Y. 2015-16 ) Shri.Julio D Costa, Vs Ito-Ward-2, H.No.337,Mobor,Cavelossim, Blessings Pioneer Salcete,Goa-403731. Complex, (Pan:Aewpd6709F) Old Market, Margoa-403601,Goa. Smt.Bertha D Costa, Ito-Ward-2, Vs H.No.337,Mobor,Cavelossim, Blessings Pioneer Salcete,Goa-403731. . Complex, (Pan:Aewpd6748N) Old Market, Margoa-403601,Goa. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Shrinivas Nayak.Ar Revenue By Smt.Manju Thakur.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.09.2025 घोषणा की तारीख/Date Of Pronouncement 15.09.2025 Order Per Pavan Kumar Gadale, Jm: These Two Appeals Are Filed By The Assesses (Husband & Wife) Against The Separate Orders Of The Cit(A) -1 Panaji Passed U/Sec143(3) & U/Sec 250 Of The Act. The Assesses Are Governed By The Portuguese Civil Code & Provisions Of Section 5A Of The Act. 2. Since The Issues Involved In These Two Appeals Are Common & Identical, Hence They Are Clubbed, Heard & Aconsolidated Order Is Passed. For The Sake Of Convenience

section 44AD of the Act u/sec139(1) of the Act nor revised return of income was filed and this is the first time such claim was made for this assessment year only in comparison to earlier assessment years and these facts are not disputed by the Ld.AR. Hence considering the submissions and material placed in the course of hearing, this

VGM EXPORT,VASCO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 114/Pan/2023 Assessment Year : 2010-11 Vgm Export Suvarn Bandekar Building, Swatantra Path, Vasco, Goa Pan : Aaafv6197P . . . . . . . Applicant V/S Joint Commissioner Of Income Tax, Margao Range, Margao. . . . . . . . Respondent Appearances Assessee By : Mr P B Deshpande [‘Ld. Ar’] Revenue By : Mr Ravindra Hattalli [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 20/02/2025 घोषणा की तारीख / Date Of Pronouncement : 25/02/2025

D. PADMAHSHALI; The captioned appeal of the assessee impugns DIN & Order ITBA/NFAC/S/250/2023-24/1052430696(1) dt. 24/07/2024 passed by the National Faceless Appeal Centre, Delhi [‘Ld. NFAC’ hereinafter] u/s 250 of the Income-tax Act, 1961 [‘the Act’ hereinafter] which in turn arisen out of order of assessment dt. 08/03/2013 passed u/s 143(3) of the Act by the Joint Commissioner

M/S SOVA,PANAJI vs. PR. COMMISSIONER OF INCOME TAX, PANAJI

The appeal of the assessee is PARTLY ALLOWED in aforestated terms

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Years: 2018-19 M/S Sova Salgaocar Bhavan, Altinho, Panaji, Goa-403001. Pan: Aacfs8862Q . . . . . . . Appellant V/S Pr. Commissioner Of Income Tax, Panaji, Goa. . . . . . . . Respondent

d) interest on tax-refund ₹52,586/- etc., were brought to tax as income from other sources u/s 56 of the Act [‘IOS’] and assessed accordingly further allowing to c/f current year business losses to the tune of ₹22,65,10,180/- 2.2 Post assessment, the assessment records were called & perused u/s 263 of the Act wherein it was unveil

JENNY ELTON VALES,DONA PAULA vs. ITO, WARD - 5, MARGAO

In the result, the appeal of assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi

D. E. Robinson vehemently argued that the CIT(A) did not appreciate the non-issuance of any notice during the rectification A.Ys.2007-08 & 2009-10 proceedings and having acknowledging the order passed u/s. 155 of the Act is not valid, confirmed the order of AO which is not at all justified. 7. Further, he argued that the AO added

JENNY ELTON VALES,DONA PAULA vs. ITO, WARD - 5, MARGAO

In the result, the appeal of assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi

D. E. Robinson vehemently argued that the CIT(A) did not appreciate the non-issuance of any notice during the rectification A.Ys.2007-08 & 2009-10 proceedings and having acknowledging the order passed u/s. 155 of the Act is not valid, confirmed the order of AO which is not at all justified. 7. Further, he argued that the AO added

GUALA CLOSURES (INDIA) PVT. LTD.,PANAJI vs. THE INCOME TAX OFFICER, WARD - 1(1), PANAJI

In the result, the appeal filed by the assessee is partly allowed for statistical purpose

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A.No.344/Pan/2017 (A.Y.2013-14 ) Guala Closures(India) Vs. I T O Ward1(1), Private Limited, Aaykar Bhavan, D-1, Sesa Ghor, Edc, Patto, 20,Edc Complex, Panjim-403001. Patto, Goa. Panaji-403001, Goa Pan/Gir No.:Aaacg4447J Appellant .. Respondent

D : CONCLUSION “55. We find ourself fortified by the observation of Delhi Tribunal in Giesecke & Devrient (India) (P.) Ltd. (supra), where with reference to the legislative history of Section 115-O, it emerges with clarity, that DDT, is a levy on the dividend distributed by payer company, being an additional tax is covered within 'Tax' as defined in Section

NANU RESORTS PVT. LTD.,MARGAO vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE- 1., MARGAO

In the result, both the appeals of the assessee are allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalita Nos.393 & 394/Pan/2018 Assessment Years: 2004-05 & 2005-06 Nanu Resorts Pvt. Acit, Circle-1, Ltd. Margao Nanu House, Varde Vs. Valaulikar Road, Margao- Goa Pan: Aaacn 7114 P (Appellant) (Respondent) Present For: Appellant By : None Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 15.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: These Two Appeals By The Assessee Arising Out Of The Order Of Ld. Cit(A), Panaji-1, Panaji In Ita Nos.305 & 306/Mrg/2014-15 Dated 02.07.2018 Against The Assessment Order Passed By Dcit, Circle-1, Margao-Goa U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The ‘Act’) Dated 25.10.2011 For Both A.Y. 2004-05 & A.Y. 2005-06. 2. The Issue Involved In Both These Appeals Are Common Which Relates To Treatment Of Expenditure Incurred By The Assessee For Replacement Of Assets & Renovation As Revenue Or Capital In Nature. For Ay 2004-05, The Quantum Of Expenditure In Dispute Is Of Rs. 10,81,672/- & For Ay 2005-06 It Is Rs. 2,06,379/-. A.Ys. 2004-05 & 2005-06 3. Before Us, None Appeared On Behalf Of The Assessee & Shri Mayur Kamble, Sr. Dr Represented The Department.

D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: These two appeals by the assessee arising out of the order of Ld. CIT(A), Panaji-1, Panaji in ITA Nos.305 & 306/MRG/2014-15 dated 02.07.2018 against the assessment order passed by DCIT, Circle-1, Margao-Goa u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the ‘Act’) dated

NANU RESORTS PVT. LTD.,MARGAO vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE- 1., MARGAO

In the result, both the appeals of the assessee are allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalita Nos.393 & 394/Pan/2018 Assessment Years: 2004-05 & 2005-06 Nanu Resorts Pvt. Acit, Circle-1, Ltd. Margao Nanu House, Varde Vs. Valaulikar Road, Margao- Goa Pan: Aaacn 7114 P (Appellant) (Respondent) Present For: Appellant By : None Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 15.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: These Two Appeals By The Assessee Arising Out Of The Order Of Ld. Cit(A), Panaji-1, Panaji In Ita Nos.305 & 306/Mrg/2014-15 Dated 02.07.2018 Against The Assessment Order Passed By Dcit, Circle-1, Margao-Goa U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The ‘Act’) Dated 25.10.2011 For Both A.Y. 2004-05 & A.Y. 2005-06. 2. The Issue Involved In Both These Appeals Are Common Which Relates To Treatment Of Expenditure Incurred By The Assessee For Replacement Of Assets & Renovation As Revenue Or Capital In Nature. For Ay 2004-05, The Quantum Of Expenditure In Dispute Is Of Rs. 10,81,672/- & For Ay 2005-06 It Is Rs. 2,06,379/-. A.Ys. 2004-05 & 2005-06 3. Before Us, None Appeared On Behalf Of The Assessee & Shri Mayur Kamble, Sr. Dr Represented The Department.

D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: These two appeals by the assessee arising out of the order of Ld. CIT(A), Panaji-1, Panaji in ITA Nos.305 & 306/MRG/2014-15 dated 02.07.2018 against the assessment order passed by DCIT, Circle-1, Margao-Goa u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the ‘Act’) dated

UMICORE AUTOCAT INDIA PRIVATE LIMITED ( ORIGINAL APPELLANT UMICORE ANANDEYA (INDIA) PRIVATE LIMITED),ZUARINAGAR, GOA vs. INCOME TAX OFFICER, WARD - 2,, MARGAO

In the result, the appeal for the A

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita Nos.118 & 119/Pan/2019 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

d) of section 47 (xiii) of the Act and hence, exemption from capital gain enjoyed by the assessee firm upon conversion into company became chargeable to tax. M/s.Umicore Finance Luxembourg, being, a non resident company approached the Authority for Advance Ruling (AAR) on the taxability of such capital gain. The Authority held that no capital gain accrued or arose

UMICORE AUTOCAT INDIA PRIVATE LIMITED ( ORIGINAL APPELLANT UMICORE ANANDEYA (INDIA) PRIVATE LIMITED),ZUARINAGAR, GOA vs. INCOME TAX OFFICER, WARD - 2,, MARGAO

In the result, the appeal for the A

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita Nos.118 & 119/Pan/2019 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

d) of section 47 (xiii) of the Act and hence, exemption from capital gain enjoyed by the assessee firm upon conversion into company became chargeable to tax. M/s.Umicore Finance Luxembourg, being, a non resident company approached the Authority for Advance Ruling (AAR) on the taxability of such capital gain. The Authority held that no capital gain accrued or arose

GUALA CLOSURES (INDIA) PVT. LTD.,PANAJI vs. THE INCOME TAX OFFICER, WARD-1(1), PANAJI., PANAJI

In the result, the appeal filed by the assessee is partly allowed for statistical purpose

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A.No.62/Pan/2017 (A.Y.2012-13 ) Guala Closures(India) Vs. I T O Ward1(1), Private Limited, Aaykar Bhavan, D-1, Seasa Ghor, Edc, Patto, 20,Edc Complex, Panjim-403001. Patto, Goa. Panaji-403001, Goa Pan/Gir No.:Aaacg4447J Appellant .. Respondent

D E R PER PAVAN KUMAR GADALE, JM: The assesse has filed the appeal against the order of the Assessing Officer passed u/s 143(3) r.w.s 144C(13) of the Income Tax Act, 1961 passed in pursuance to the directions of the Dispute Resolution Panel (DRP) u/s 144C(5) of the Act. The assesse has IT(TP)A No. 67/PAN/2017

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2 (1), PANAJI vs. M/S V. M. SALGAOCAR & BROTHERS (P) LTD., VASCO

Appeals of the Revenue are DISMISSED

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita Nos. 209 To 211/Pan/2019 निर्धारण वषा / Assessment Years : 2005-06 To 2007-08 The Asst. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . अपीलार्थी / Appellant

D. PADMAHSHALI, ACCOUNTANT MEMBER आयकर अपऩल सं. / ITA Nos. 209 to 211/PAN/2019 निर्धारण वषा / Assessment Years : 2005-06 to 2007-08 The Asst. Commissioner of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . अपीलार्थी / Appellant बिधम / V/s. M/s. V. M. Salgaonkar & Brother Pvt. Ltd., Salgaonkar House, F.L. Gomes Road, Vasco Da Gama, Goa. PAN: AAACV 5950 B . . . . . . .प्रत्यर्थी / Respondent द्वधरध / Appearances

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2 (1), PANAJI vs. M/S V. M. SALGAOCAR & BROTHERS (P) LTD., VASCO

Appeals of the Revenue are DISMISSED

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita Nos. 209 To 211/Pan/2019 निर्धारण वषा / Assessment Years : 2005-06 To 2007-08 The Asst. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . अपीलार्थी / Appellant

D. PADMAHSHALI, ACCOUNTANT MEMBER आयकर अपऩल सं. / ITA Nos. 209 to 211/PAN/2019 निर्धारण वषा / Assessment Years : 2005-06 to 2007-08 The Asst. Commissioner of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . अपीलार्थी / Appellant बिधम / V/s. M/s. V. M. Salgaonkar & Brother Pvt. Ltd., Salgaonkar House, F.L. Gomes Road, Vasco Da Gama, Goa. PAN: AAACV 5950 B . . . . . . .प्रत्यर्थी / Respondent द्वधरध / Appearances

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2 (1), PANAJI vs. M/S V. M. SALGAOCAR & BROTHERS (P) LTD., VASCO

Appeals of the Revenue are DISMISSED

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita Nos. 209 To 211/Pan/2019 निर्धारण वषा / Assessment Years : 2005-06 To 2007-08 The Asst. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . अपीलार्थी / Appellant

D. PADMAHSHALI, ACCOUNTANT MEMBER आयकर अपऩल सं. / ITA Nos. 209 to 211/PAN/2019 निर्धारण वषा / Assessment Years : 2005-06 to 2007-08 The Asst. Commissioner of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . अपीलार्थी / Appellant बिधम / V/s. M/s. V. M. Salgaonkar & Brother Pvt. Ltd., Salgaonkar House, F.L. Gomes Road, Vasco Da Gama, Goa. PAN: AAACV 5950 B . . . . . . .प्रत्यर्थी / Respondent द्वधरध / Appearances