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13 results for “depreciation”+ Section 32(1)clear

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Key Topics

Section 143(3)24 Section 14A12 Disallowance11 Depreciation10 Addition to Income10 Section 1549 Section 2507 Section 2636 Section 37(1)5 Section 143(2)

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 2, BELAGAVI vs. M/S NIRANI SUGARS LIMITED, BELAGAVI

In the result, the appeal of the Revenue is dismissed

ITA 178/PAN/2018[2011-12]Status: DisposedITAT Panaji23 Jun 2022AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Shri Ashok Kulkarni, AdvFor Respondent: Smt Rijula Uniyal, Sr. DR

Section 139(1)Section 36Section 36(1)(iii)

depreciation as per the provisions of sub-section (1) of section 32. Since two rates of depreciation are prescribed as per Appendix

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

4

Limitation/Time-bar4

ITA 37/PAN/2023[2016-17]Status: DisposedITAT Panaji27 Feb 2026AY 2016-17

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 3

32(1) is pari-materia of section 2(11) to cover both tangible and intangible assets for depreciation. 37. Section

DEMPO INDUSTRIES PRIVATE LIMITED,PANAJI vs. INCOME TAX OFFICER, WARD -1(2), PANAJI

The appeal of the assessee is ALLOWED in above terms

ITA 131/PAN/2019[2010-11]Status: DisposedITAT Panaji01 Sept 2023AY 2010-11

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshali(Through Virtual Hearing At Pune) आयकर अपील सं. / Ita No. 131/Pan/2019 धििाारण वर्ा / Assessment Year : 2010-11 Dempo Industries Pvt. Ltd., Dempo House, Campal, Panaji, Goa - 403001 Pan: Aaacu1745F . . . . . . . अपीलार्थी / Appellant

For Appellant: Ms Rucha VaidyaFor Respondent: Mr Prabhakar Anand DJ

Section 139Section 143(3)Section 246A(1)Section 250Section 253(1)(a)Section 263Section 32(1)(iia)

section 32(1) unambiguously prescribes that new plant or machinery acquired and installed after 31st March, 2005 subject to 2nd proviso are eligible for additional depreciation

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

ITA 38/PAN/2025[2013-14]Status: DisposedITAT Panaji11 Feb 2026AY 2013-14

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-

For Appellant: Mr Pramod & Mr Shriniwas Deshpande [‘Ld. AR’]For Respondent: Mr M Satish & Mr Renga Rajan [‘Ld. DR’]

Section 143(1)Section 143(2)Section 143(3)Section 14ASection 2(14)Section 246ASection 250Section 253(1)Section 37(1)

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

M/S CHOWGULE AND COMPANY (SALT) PVT. LTD,MORMUGAO vs. THE ACIT, CIRCLE - 2, MARGAO

The appeal of the assessee is partly allowed in terms of aforesaid observation

ITA 390/PAN/2017[2012-13]Status: DisposedITAT Panaji29 Apr 2022AY 2012-13

Bench: Shri Ravish Sood & Shri Jamlappa D. Battullआयकर अपील सं. / Ita No. : 390/Pan/2017 करधििाारण वर्ा / Assessment Year : 2012-2013 M/S Chowgule & Company (Salt) Pvt Ltd., Chowgule House, Mormugao Harbour, Goa – 403803. Pan: Aabcc 5595 J . . . . . . . अपीलार्थी / Appellant बिाम / V/S Asstt. Commissioner Of Income Tax, Circle-2, Margao, Goa. . . . . . . . प्रत्यर्थी / Respondent द्वारा / Appearances Assessee By : Ms Hiral Sejpal Revenue By : Shri Sourabh Nayak सुनवाई की तारीख / Date Of Conclusive Hearing : 24/02/2022 घोषणा की तारीख / Date Of Pronouncement : 29/04/2022 आदेश / Order Per Jamlappa D Battull Am; The Present Appeal Filed By The Appellant Assessee Is Directed Against The Order Of Commissioner Of Income Tax- Appeals, Panaji-1 [For Short “Cit(A)”] Dt. 09/10/2017 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”], Which In Turn Tousled Out Of Order Of Assessment Of Assistant Commissioner Of Income Tax-Circle-2, Margoa [For Short “Ao”] Dt. 27/07/2014 Passed U/S 143(3) Of The Act, For The Assessment Year [For Short “Ay”] 2012-2013. Itat-Panaji Page 1 Of 23

For Appellant: Ms Hiral SejpalFor Respondent: Shri Sourabh Nayak

Section 10(35)Section 115JSection 143(3)Section 14ASection 14A(1)Section 250

1) and (5) of section 115JB of the Act. It is also pertinent to mention here that, the amounts mentioned in clauses (a) to (i) of Explanation to section 115JB(2) of the Act are debited to the statement of profit and loss account, then only the provisions of section 115JB of the Act would apply. lex lata, the disallowance

SOCIEADADE DE FOMENTO INDL. PVT. LTD.,MARGAO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

ITA 105/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR

Section 143(1)Section 143(2)Section 14A

section 9." 6. It is an undisputed fact that the Finance Act, 2010 received the assent of the President on 8.5.2010 and all the payments have been made by the Assessee to the non-resident party prior to receiving of assent of the President making the retrospective amendment by adding explanation to Sec. 9(1). At the time when

ACIT, CENTRAL CIRCLE, PANAJI vs. M/S SOCIADADE DE FOMENTO INDUSTRIAL P. LTD, MARGAO

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

ITA 116/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR

Section 143(1)Section 143(2)Section 14A

section 9." 6. It is an undisputed fact that the Finance Act, 2010 received the assent of the President on 8.5.2010 and all the payments have been made by the Assessee to the non-resident party prior to receiving of assent of the President making the retrospective amendment by adding explanation to Sec. 9(1). At the time when

GOA MINERALS PRIVATE LIMITED,VASCO vs. ACIT, CIRCLE - 2(1), PANAJI

In the result, appeal of the assessee is allowed for statistical purpose

ITA 63/PAN/2020[2014-15]Status: DisposedITAT Panaji11 Oct 2023AY 2014-15

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.63/Pan/2020 िनधा"रण वष" / Assessment Year : 2014-15 Goa Minerals Private Limited, The Assistant P.B.No.14, Salgaocar House, V Commissioner Of Income Dr.F.L.Gomes Road, S Tax, Circle-2(1), Panaji, Vasco Da Gama, Goa. Goa – 403802 Pan: Aaacg 6716 C Appellant / Assessee Respondent / Revenue Assessee By Shri Veer Raghavan – Ar Revenue By Shri N. Shrikanth – Dr Date Of Hearing 09/10/2023 Date Of Pronouncement 11/10/2023

Section 139(5)Section 143(3)Section 251(1)

depreciation during the year under present appeal (i.e. in the year of put to use), on expenditure of Rs.6,248,885 relating to financial year 2012-13, the claim of which as a revenue expenditure was disallowed in the then assessment for assessment year 2013-14 but was assessed as a capital expenditure and was allowed to add to capital

SURAJDATTA SAGUN MORAJKAR,NERUL vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PANAJI GOA, PANAJI

ITA 122/PAN/2024[2017-18]Status: DisposedITAT Panaji18 Jun 2025AY 2017-18

Bench: Hon’Ble Shri Pavankumar Gadale & Shri G. D. Padmahshaliita Nos. 122/Pan/2024 Assessment Year : 2017-18 Surajdatta Sagun Morajkar C/O. Sun Estate Developers, Next To Sal De Goa, Bhatti Waddo, Bardez, Goa-403114 Pan : Aempm7614J . . . . . . . Appellant

For Appellant: Mr Vinesh Pikale [‘Ld. AR’]For Respondent: Mr Deshmukh Prakash [‘Ld. DR’]

Section 143(3)Section 250Section 253(1)Section 32(1)Section 37(1)Section 41(1)Section 5ASection 68

1 of 7 Surajdatta Sagun Morajkar Vs ACIT ITA Nos.122/PAN/2024 AY: 2017-18 2. Briefly stated facts of borne out of the case records are that; 2.1 The assessee is an individual governed by the provisions of section 5A of the Act was for the year under consideration engaged in the business of real estate development and construction

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

The appeal of the assessee is PARTLY ALLOWED in aforestated terms

ITA 24/PAN/2024[2018-19]Status: DisposedITAT Panaji10 Mar 2026AY 2018-19

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

For Appellant: Mr Sukhsagar Syal [‘Ld. AR’]For Respondent: Mr M Satish [‘Ld. DR’]

Section 143(2)Section 143(3)Section 253(1)Section 263Section 56

32 of the Act and ‘registration fees’ as revenue in nature thus deductible u/s 37(1) of the Act. Without contesting but placing reliance thereon (supra), the Ld. Sayal contended that, to the extent stamp duty paid & claimed in the year under consideration and accepted by the Ld. NFeAC as ‘revenue’ can alone be treated as erroneous and thus prejudicial

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

ITA 210/PAN/2019[2006-07]Status: DisposedITAT Panaji03 Oct 2023AY 2006-07

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

For Appellant: Mr Ketan Ved [‘Ld. AR’]For Respondent: Mr N. Shrikanth [‘Ld. DR’]

Section 143(3)Section 154Section 250Section 32Section 37(1)Section 80H

1) of the Act were made viz; (i) deposits written-off (ii) excessive foreign travel expenses and (iii) compensation for damages to property. The aforestated additions were unsuccessfully contested before first appellate authority. Consequently, when matter travelled to Tribunal on earlier occasion, the Co-ordinate bench vide its order in ITA No. 88/PNJ/2009 dt. 08/07/2011 remitted the first issue

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

ITA 211/PAN/2019[2007-08]Status: DisposedITAT Panaji03 Oct 2023AY 2007-08

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

For Appellant: Mr Ketan Ved [‘Ld. AR’]For Respondent: Mr N. Shrikanth [‘Ld. DR’]

Section 143(3)Section 154Section 250Section 32Section 37(1)Section 80H

1) of the Act were made viz; (i) deposits written-off (ii) excessive foreign travel expenses and (iii) compensation for damages to property. The aforestated additions were unsuccessfully contested before first appellate authority. Consequently, when matter travelled to Tribunal on earlier occasion, the Co-ordinate bench vide its order in ITA No. 88/PNJ/2009 dt. 08/07/2011 remitted the first issue

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

ITA 209/PAN/2019[2005-06]Status: DisposedITAT Panaji03 Oct 2023AY 2005-06

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

For Appellant: Mr Ketan Ved [‘Ld. AR’]For Respondent: Mr N. Shrikanth [‘Ld. DR’]

Section 143(3)Section 154Section 250Section 32Section 37(1)Section 80H

1) of the Act were made viz; (i) deposits written-off (ii) excessive foreign travel expenses and (iii) compensation for damages to property. The aforestated additions were unsuccessfully contested before first appellate authority. Consequently, when matter travelled to Tribunal on earlier occasion, the Co-ordinate bench vide its order in ITA No. 88/PNJ/2009 dt. 08/07/2011 remitted the first issue