SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD.,PUNE vs. ACIT, CIRCLE-5, PUNE, PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

14. The assessee in the instant case has made out its case that it falls under proviso to Explanation 10 to section 43(1) of the Act and has done the treatment accordingly apportioning the subsidy on the total fixed assets and after reducing it from fixed assets has claimed depreciation

DY. COMMISSIONER OF INCOME-TAX, CIRCLE-5, PUNE vs. SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD., PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

14. The assessee in the instant case has made out its case that it falls under proviso to Explanation 10 to section 43(1) of the Act and has done the treatment accordingly apportioning the subsidy on the total fixed assets and after reducing it from fixed assets has claimed depreciation

SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. NATIONAL FACELESS APPEAL CENTRE, PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

14. The assessee in the instant case has made out its case that it falls under proviso to Explanation 10 to section 43(1) of the Act and has done the treatment accordingly apportioning the subsidy on the total fixed assets and after reducing it from fixed assets has claimed depreciation

ACIT, CIRCLE-5, PUNE, PUNE vs. SHRINIWAS ENGINEERING AUTO COMPONENTS PRIVATE LIMITED, PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

14. The assessee in the instant case has made out its case that it falls under proviso to Explanation 10 to section 43(1) of the Act and has done the treatment accordingly apportioning the subsidy on the total fixed assets and after reducing it from fixed assets has claimed depreciation

SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. NATIONAL FACELESS APPEAL CENTRE, PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

14. The assessee in the instant case has made out its case that it falls under proviso to Explanation 10 to section 43(1) of the Act and has done the treatment accordingly apportioning the subsidy on the total fixed assets and after reducing it from fixed assets has claimed depreciation

DCIT CIRCLE 7, BODHI TOWER SALISBURY PARK vs. L B KUNJIR, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

14. Further, we find CBDT‟s Circular No.11/2019 dated 19.06.2019 reads as under: “SECTION 71, READ WITH SECTION 115BBE. OF THE INCOME-TAX ACT, 1961 - LOSSES - SET OFF OF FROM ONE HEAD AGAINST INCOME FROM AN OTHER - CLARIFICATION REGARDING NON-ALLOWABILITY OF SETOFF OF LOSSES AGAINST THE DEEMED INCOME UNDER SECTION 2017-18 CIRCULAR NO. 11/2019 [F.N0.225/45/2019-ITA.II], DATED

DCIT, PUNE vs. L B KUNJIR, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

14. Further, we find CBDT‟s Circular No.11/2019 dated 19.06.2019 reads as under: “SECTION 71, READ WITH SECTION 115BBE. OF THE INCOME-TAX ACT, 1961 - LOSSES - SET OFF OF FROM ONE HEAD AGAINST INCOME FROM AN OTHER - CLARIFICATION REGARDING NON-ALLOWABILITY OF SETOFF OF LOSSES AGAINST THE DEEMED INCOME UNDER SECTION 2017-18 CIRCULAR NO. 11/2019 [F.N0.225/45/2019-ITA.II], DATED

M/S. L.B. KUNJIR,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7, PUNE, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

14. Further, we find CBDT‟s Circular No.11/2019 dated 19.06.2019 reads as under: “SECTION 71, READ WITH SECTION 115BBE. OF THE INCOME-TAX ACT, 1961 - LOSSES - SET OFF OF FROM ONE HEAD AGAINST INCOME FROM AN OTHER - CLARIFICATION REGARDING NON-ALLOWABILITY OF SETOFF OF LOSSES AGAINST THE DEEMED INCOME UNDER SECTION 2017-18 CIRCULAR NO. 11/2019 [F.N0.225/45/2019-ITA.II], DATED

M/S. L.B. KUNJIR,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7, PUNE, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

14. Further, we find CBDT‟s Circular No.11/2019 dated 19.06.2019 reads as under: “SECTION 71, READ WITH SECTION 115BBE. OF THE INCOME-TAX ACT, 1961 - LOSSES - SET OFF OF FROM ONE HEAD AGAINST INCOME FROM AN OTHER - CLARIFICATION REGARDING NON-ALLOWABILITY OF SETOFF OF LOSSES AGAINST THE DEEMED INCOME UNDER SECTION 2017-18 CIRCULAR NO. 11/2019 [F.N0.225/45/2019-ITA.II], DATED

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7, PUNE vs. LB KUNJIR, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

14. Further, we find CBDT‟s Circular No.11/2019 dated 19.06.2019 reads as under: “SECTION 71, READ WITH SECTION 115BBE. OF THE INCOME-TAX ACT, 1961 - LOSSES - SET OFF OF FROM ONE HEAD AGAINST INCOME FROM AN OTHER - CLARIFICATION REGARDING NON-ALLOWABILITY OF SETOFF OF LOSSES AGAINST THE DEEMED INCOME UNDER SECTION 2017-18 CIRCULAR NO. 11/2019 [F.N0.225/45/2019-ITA.II], DATED

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

PRIDE PURPLE BUILDERS PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1 (1),, PUNE

In the result, the appeal of the Assessee is allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.699/Pun/2022 िनधा"रण वष" / Assessment Year : 2015-16 Pride Purple Builders Private The Deputy Limited, V Commissioner Income Pride House, 5Th Floor, S Tax, Circle-1(1), Pune. S.No.108/7, Shivajinagar, Near Pune University Circle, Pune – 411016. Pan: Aadcp 4286 H Appellant / Assessee Respondent / Revenue Assessee By Shri Suhas Bora – Ar Revenue By Shri M G Jasnani, Irs - Dr Date Of Hearing 03/10/2023 Date Of Pronouncement 04/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By Assessee Is Directed Against The Order Of Ld. Commissioner Of Income Tax(Appeal), Pune-11 Dated 18.08.2022For A.Y.2015-16 Emanating From The Assessment Order Under Section 143(3) Of The Income Tax Act, 1961 Dated 30.11.2017. The Assessee Has Raised The Following Grounds Of Appeal: Pride Purple Builders Private Limited [A]

Section 57 of the Act. 5.4 The Ld. AR also relied on following decisions:  Vodafone South Ltd vs CIT ITA 334/2014 (Del High Court)  ITO vs Brahma Associates ITAT Pune ITA 133/PN/2014  DLF Info City Development vs ACIT ITA 894/Del/2018  Triumph Reality Pvt Ltd [2023] 148 taxmann.com 196 (Delhi) Submission of ld.Departmental Representative(ld.DR) : 6. The ld.Departmental Representative read

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

depreciation allowance in respect of a block of asset which has not been given full effect to prior to the assessment year beginning on the 1st day of April, 2020, corresponding adjustment shall be made to the written down value of such block of assets as on the 1st day of April, 2019 in the prescribed manner, if the option

DEPUTY COMMISSIONER OF INCOME-TAX, (EXEMPTION) CIRCLE ,, PUNE vs. SHIVNAGAR VIDYA PRASARAK MANDAL,, PUNE

In the result, the appeal of the Revenue in ITA No

depreciation and deduction thereof from gross income of the Trust. In view of the aforesatated judgment of the Bombay High Court, we answer question No. 1 in the affirmative i.e., in favour of the assessee and against the Department.” 11. Further, it is settled position of law that the amendment brought by the Finance Act by insertion of sub-section

DEPUTY COMMISSIONER OF INCOME-TAX,(EXEMPTION) CIRCLE ,, PUNE vs. THE BISHOPS EDUCATION SOCIETY,, PUNE

In the result, the appeal of the Revenue in ITA No

depreciation and deduction thereof from gross income of the Trust. In view of the aforesatated judgment of the Bombay High Court, we answer question No. 1 in the affirmative i.e., in favour of the assessee and against the Department.” 11. Further, it is settled position of law that the amendment brought by the Finance Act by insertion of sub-section

ITO, WARD-1(1), SOLAPUR, SOLAPUR vs. MS. KSHIRSAGAR FABRICS, SOLAPUR

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2009-10

depreciation allowance on the intangible assets in the nature of know-how purchased by it. A 14 regular assessment order was passed under Section

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)

Section 154 of the Act, we are of the considered opinion that the issue of allowing of book loss or unabsorbed 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

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)

Section 154 of the Act, we are of the considered opinion that the issue of allowing of book loss or unabsorbed 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