SUPERFINE METALS P LTD,AHMEDNAGAR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(2), , PUNE

Bench: Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपीऱ सं. / Ita Nos. 631 To 634/Pun/2021 निर्धारण वर्ा / Assessment Years : 2010-2011 To 2013-14 Superfine Metals Private Ltd., E29/E39, Supa Midc, Tal. Parner, Ahmednagar – 414302 . . . . . . . अपीऱधर्थी / Appellant Pan:Aakcs6038H बनाम / V/S. Asst. Commissioner Of Income Tax, . . . . . . . . प्रत्यर्थी / Respondent Central Circle 1(2), Pune द्वारा/ Appearances Assessee By : Shri M. K. Kulkarni Revenue By : Shri M. G. Jasnani सुनवाई की तारीख / Date Of Conclusive Hearing : 28/09/2022 घोषणा की तारीख / Date Of Pronouncement : 07/10/2022 आदेश / Order Per G. D. Padmahshali, Am; Present Bunch Of Five Appeals Of The Assessee Is Assailed Against Separate Orders Of Commissioner Of Income Tax (Appeals), Pune-11 [For Short “Cit(A)”] All Dt. 16/11/2021 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”], Which Arose Out Of Rectification Orders Dt. 20/02/2021 Passed U/S 154 By The Asst. Commissioner Of Income Tax, Central Circle 1(2), Pune [For Short “Ao”] For Assessment Years [For Short “Ay”] 2010-11 To 2013-14. Itat-Pune Page 1 Of 12

rectification application u/s 154(1) of the Act, after the expiry of time limit prescribed u/s 154(7) of the Act, this brings us to adjudicate two issues; 9.1 Whether intimation passed u/s 143(1) can be rectified after the expiry of statutory time limit prescribed u/s 154(7) of the Act. 9.2 Whether claim for additional depreciation

SUPERFINE METALS P LTD,AHMEDNAGAR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(2), , PUNE

Bench: Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपीऱ सं. / Ita Nos. 631 To 634/Pun/2021 निर्धारण वर्ा / Assessment Years : 2010-2011 To 2013-14 Superfine Metals Private Ltd., E29/E39, Supa Midc, Tal. Parner, Ahmednagar – 414302 . . . . . . . अपीऱधर्थी / Appellant Pan:Aakcs6038H बनाम / V/S. Asst. Commissioner Of Income Tax, . . . . . . . . प्रत्यर्थी / Respondent Central Circle 1(2), Pune द्वारा/ Appearances Assessee By : Shri M. K. Kulkarni Revenue By : Shri M. G. Jasnani सुनवाई की तारीख / Date Of Conclusive Hearing : 28/09/2022 घोषणा की तारीख / Date Of Pronouncement : 07/10/2022 आदेश / Order Per G. D. Padmahshali, Am; Present Bunch Of Five Appeals Of The Assessee Is Assailed Against Separate Orders Of Commissioner Of Income Tax (Appeals), Pune-11 [For Short “Cit(A)”] All Dt. 16/11/2021 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”], Which Arose Out Of Rectification Orders Dt. 20/02/2021 Passed U/S 154 By The Asst. Commissioner Of Income Tax, Central Circle 1(2), Pune [For Short “Ao”] For Assessment Years [For Short “Ay”] 2010-11 To 2013-14. Itat-Pune Page 1 Of 12

rectification application u/s 154(1) of the Act, after the expiry of time limit prescribed u/s 154(7) of the Act, this brings us to adjudicate two issues; 9.1 Whether intimation passed u/s 143(1) can be rectified after the expiry of statutory time limit prescribed u/s 154(7) of the Act. 9.2 Whether claim for additional depreciation

DY. COMMISSIONER OF INCOME TAX CIRCLE-1(1) , PUNE vs. FIAT INDIA AUTOMOBILES PRIVATE LIMITED, PUNE

In the result, the appeal filed by the assessee in ITA

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

depreciation while computing book profit u/s 115JB of the IT Act, was a debatable issue & cannot be subject matter of proceedings u/s 154 of the IT Act. 14. Accordingly, in view of above discussion we set aside the order passed by Ld. CIT(A) & quash the rectification

M/S. FIAT INDIA AUTOMOBILES PRIVATE LIMITED,PUNE vs. ACIT CIRCLE 1(1), PUNE

In the result, the appeal filed by the assessee in ITA

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

depreciation while computing book profit u/s 115JB of the IT Act, was a debatable issue & cannot be subject matter of proceedings u/s 154 of the IT Act. 14. Accordingly, in view of above discussion we set aside the order passed by Ld. CIT(A) & quash the rectification

M/S KOLTE-PATIL INTEGRATED TOWNSHIPS LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7, PUNE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2021-22

rectification order. 6 11. We have heard the rival arguments made by both the sides and perused the orders of the Assessing Officer and Ld. CIT(A) / NFAC. We find the assessee in the instant case has exercised the option u/s 115BAA of the Act to tax its income at lower rate. The CPC for the assessment year

MADHUKAR SAHAKARI SK.LTD.,,FAIZPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,, JALGAON

In the result, the appeal of assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

rectification order u/s. 154 dated 03-02- 2005, the unabsorbed depreciation of RS.1,39,14,187/- for A.Y. 1991-92 was allowed

MAGARAJ MISHRIMAL RATHI,PUNE vs. ACIT, CIRCLE-5, PUNE, PUNE

In the result, the appeal filed by the assessee stands allowed for statistical purposes

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

rectification application. All these documents were again produced before the ld. CIT(A)/NFAC also. But Ld. CIT(A)/NFAC has not considered any of the document but simply relied the order u/s 154 passed by the Assessing Officer and confirmed the same. It was submitted by the ld. AR of the assessee that only 3 additions are under challenge

NAGAR URBAN CO-OP BANK LTD,AHMEDNAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AHMEDNAGAR CIRCLE, AHMEDNAGAR

In the result, the appeal of the assessee is allowed

Bench: Shri R.K. Panda & Ms. Astha Chandra

rectification application u/s 154 of the Act, for claim of depreciation on the Government Securities / exemption of dividend income which

MAHARASHTRA STATE WAREHOUSING CORPORATION,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14,, PUNE

In the result, all the appeals of assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

depreciation of earlier years. Still aggrieved, the assessee carried the matter in second appeal before the Tribunal. The Tribunal set aside the assessment and restored the issue raised in grounds of appeal back to the file of Assessing Officer with a directions to recompute disallowance u/s. 14A r.w. Rule 8D. The Assessing Officer while giving effect to the order

MAHARASHTRA STATE WAREHOUSING CORPORATION,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14,, PUNE

In the result, all the appeals of assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

depreciation of earlier years. Still aggrieved, the assessee carried the matter in second appeal before the Tribunal. The Tribunal set aside the assessment and restored the issue raised in grounds of appeal back to the file of Assessing Officer with a directions to recompute disallowance u/s. 14A r.w. Rule 8D. The Assessing Officer while giving effect to the order

MAHARASHTRA STATE WAREHOUSING CORPORATION,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14,, PUNE

In the result, all the appeals of assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

depreciation of earlier years. Still aggrieved, the assessee carried the matter in second appeal before the Tribunal. The Tribunal set aside the assessment and restored the issue raised in grounds of appeal back to the file of Assessing Officer with a directions to recompute disallowance u/s. 14A r.w. Rule 8D. The Assessing Officer while giving effect to the order

MAHARASHTRA STATE WAREHOUSING CORPORATION,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14,, PUNE

In the result, all the appeals of assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

depreciation of earlier years. Still aggrieved, the assessee carried the matter in second appeal before the Tribunal. The Tribunal set aside the assessment and restored the issue raised in grounds of appeal back to the file of Assessing Officer with a directions to recompute disallowance u/s. 14A r.w. Rule 8D. The Assessing Officer while giving effect to the order

ASHIRWAD CHARITABLE TRUST,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS) CIRCLE, PUNE

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

Bench: Shri R.K. Panda & Ms. Astha Chandra

rectification of total income to Rs. 1,86,20,170/- was already done 3 ITA No.190/PUN/2024, A.Y. 2015-16 being a mistake apparent from the record. The same as resulted in a change of opinion of the Ld. AO. The appellant has also submitted that the Ld. AO has not disposed off the specific objections against re-opening u/s

REXEL INDIA PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, PUNE

In the result, appeal of the assessee is partly allowed for statistical\npurposes

154\nof the Act which was pending before the Ld. AO at the time of appellant\nproceedings before him. He therefore directed the Ld. AO to dispose of the\nsaid rectification application after due verification thereby allowing these\ngrounds of appeal raised by the assessee for statistical purposes.\n5.\nDissatisfied the assessee is in appeal before the Tribunal

SATARA ENGINEERING PROJECTS AND EQUIPMENTS PRIVATE LIMITED,SATARA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, SATARA, SATARA

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2450/Pun/2025 Assessment Year : 2024-25

depreciation" shall have the meaning assigned to it in clause (b) of sub-section (7) of section 72A.” 6. Now before us, ld. Counsel for the assessee contended that in compliance to section 115BAB(7) assessee has first time opted for this concessional rate of tax u/s.115BAB of the Act in the return filed

SHRIRAM BAHU UDDESHIYA SEVABHAVI SANSTHA,SANGLI vs. THE INCOME TAX OFFICER(EXEMPTION), WARD, KOLHAPUR

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal

depreciation of Rs.33,84,042/-, which was although disallowed earlier in the original order but omitted to be considered at the time of computing the total income. The assessee contested the validity of the rectification order u/s.154 before the ld. CIT(A) but without success. 4. The ld. AR submitted that the AO gave only 3 days time

ZF STEERING GEAR (INDIA) LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -1 (1),, PUNE

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm Assessment Year: 2013-14

154/-. Subsequently, the assessee also filed second revised return on 9-12- 2014 declaring total income of Rs. 29,71,88,270/-. The AO has completed the assessment u/s 143(3) of the Act on 28-3-2016 determining the total income at Rs. 31,30,34,893/-. While computing the total income, the A.O has considered total income

ADHAR PROJECT WELFARE SOCIETY,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, the appeal of assessee is treated as allowed for statistical purposes

Bench: Shri Manish Borad & Ms. Astha Chandra

154 of the Act. The JAO, after having gone through information available, concluded that the appellant was not eligible to avail exemption u/s 11 of the Act for the AY 2016-17 as necessary approval u/s 12AA of the Act was not obtained by it. The appellant filed return of income in ITR 7 which is applicable for an institution

DEPUTY COMMISSIONER OF INCOME-TAX vs. M/S. SUNGARD SOLUTIONS (I) PVT. LTD.,, PUNE

In the result, the appeal of Revenue in ITA

Bench: Shri Anil Chaturvedi, Am & Shri S.S. Viswanethra Ravi, Jm

154 dt.19.03.2015 wherein the total taxable income was determined at Rs.47,36,85,859/-. Aggrieved by the order of AO, assessee is now in appeal before us and has raised the following grounds : “1. Disallowance of depreciation on computer software. 1.1. The Learned AO has erred in disallowing the depreciation of INR 2,253,214 under section