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)

section 37 of the Act which is applicable to the CSR in the case of the companies. Further the assessing officer has not doubted the genuineness of the expenditure but treated the same as not incidental to the business and made disallowance. The Ld.AR highlighted the ledger account copies of expenditure and TDS was deducted on the contractor payments

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

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 Guala Closures (India) Private Limited. raised grounds of appeal challenging the action of lower authorities in determining the ALP pertaining to management fees as Nil and also the lower authorities erred

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’]

13,45,220/-. The said return of income of the assessee company in first instance without variation was summarily processed by the Revenue u/s 143(1) of the Act. 2.2 Subsequently, vide notice dt. 29/12/2008 issued u/s 143(2) of the Act, the case of the assessee selected for scrutiny and the assessment u/s 143(3) of the Act vide

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

13. Ground Nos. 2 and 3 raised by the assessee challenging the action of CIT(A) in confirming the addition made in the hands of the assessee in terms of operation of provisions u/s. 5A of the Act. 14. I note that a new provisions u/s. 5A of the Act has been inserted by Finance Act, 1994 with retrospective effect

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

13. Ground Nos. 2 and 3 raised by the assessee challenging the action of CIT(A) in confirming the addition made in the hands of the assessee in terms of operation of provisions u/s. 5A of the Act. 14. I note that a new provisions u/s. 5A of the Act has been inserted by Finance Act, 1994 with retrospective effect

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

depreciation. Later on, M/s. Anandeya Zinc Oxides Pvt. Ltd. was incorporated succeeding the erstwhile firm M/s. Anandeya Zinc Oxides. The conversion of firm into a Private Limited company was effected on 13-09-2005 under Part IX of Indian Companies Act. Thereafter, M/s.Umicore Finance Luxembourg, a non-resident company, firstly purchased 99.96% of the shares of the Indian company, namely

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

depreciation. Later on, M/s. Anandeya Zinc Oxides Pvt. Ltd. was incorporated succeeding the erstwhile firm M/s. Anandeya Zinc Oxides. The conversion of firm into a Private Limited company was effected on 13-09-2005 under Part IX of Indian Companies Act. Thereafter, M/s.Umicore Finance Luxembourg, a non-resident company, firstly purchased 99.96% of the shares of the Indian company, namely

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

depreciation and on other hand claim them doubly for c/f of loss owning to disallowance. Insofar as the denial of set-off against IOS income is concerned being ceased the matter in the assessment and concretised by revisionary action with a view to remove anomaly crept-in income computation sheet communicated to the assessee. The order giving effect [‘OGE’] passed

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

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 Guala Closures (India) Private Limited. raised grounds of appeal challenging the action of lower authorities in determining the ALP pertaining to management fees as Nil and also

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

section 154(1A) of the Act, there is no time for amending an order on any matter other than the matter which has been considered and decided in any proceeding by way of appeal. ITAT-Panaji Page 3 of 10 ACIT Vs M/s V M Salgaonkar & Bros. Pvt Ltd. ITA No. 209-211/PAN/2019

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

section 154(1A) of the Act, there is no time for amending an order on any matter other than the matter which has been considered and decided in any proceeding by way of appeal. ITAT-Panaji Page 3 of 10 ACIT Vs M/s V M Salgaonkar & Bros. Pvt Ltd. ITA No. 209-211/PAN/2019

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

section 154(1A) of the Act, there is no time for amending an order on any matter other than the matter which has been considered and decided in any proceeding by way of appeal. ITAT-Panaji Page 3 of 10 ACIT Vs M/s V M Salgaonkar & Bros. Pvt Ltd. ITA No. 209-211/PAN/2019

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

13,69,821.60/- (3)IDBI-Panaji a/c had no closing balance as at 31/03/2010 but the difference on account of total receipts & withdrawals relating to transactions of monetary items resulted into a loss of ₹1,00,37,093.93/-. These losses are recognised in the books by passing journal entries at the closure of the year and resultantly claimed as deduction