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) to Rs. 48906.16 (business loss) in AY 2009-10. In the passing it must be mentioned that reliance of the appellant on the decision of Hon'ble Delhi High Court in the case of CIT v. Sumi Motherson Innovative Engineering Limited (195 Taxmann 353) (2010) is misplaced since that case laid down the principle as to what is meant

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) to Rs. 48906.16 (business loss) in AY 2009-10. In the passing it must be mentioned that reliance of the appellant on the decision of Hon'ble Delhi High Court in the case of CIT v. Sumi Motherson Innovative Engineering Limited (195 Taxmann 353) (2010) is misplaced since that case laid down the principle as to what is meant

M/S. VISHAY COMPONENTS INDIA PRIVATE LIMITED,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 13,, PUNE

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

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

depreciation is an integral part of Operating Cost. Regarding foreign exchange gain/loss has been treated as non-operative by the TPO which the Tribunal in assessee’s own case we note that held the amount of foreign exchange gain/loss arising out of revenue transactions should be considered as an item of operating revenue/cost for the assessee as well as comparables

INCOME-TAX OFFICER vs. MAHATMA GANDHI MISSION,, AURANGABAD

In the result, both the appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.1633 & 1634/Pun/2014 यििाारण वषा / Assessment Years : 2010-11 & 2011-12 The Income Tax Officer, अऩीऱाथी/Appellant Ward 1(1), Aurangabad …. Vs. Mahatma Gandhi Mission, Mgm Campus, N-6, Cidco, …. प्रत्यथी / Respondent Aurangabad Pan: Aaatm4256E अऩीऱाथी की ओर से / Appellant By : Shri Rajeev Kumar, Cit प्रत्यथी की ओर से / Respondent By : Shri Pramod Shingte

195 (Del) and the Hon’ble High Court of Punjab & Haryana High Court in CIT Vs. Market Committee, Pipli reported in 330 ITR 16 (P&H) and it was held that in the case of a Trust, depreciation claimed on the assets is to be allowed as deduction ITA Nos.1633 & 1634/PUN/2014 4 Mahatma Gandhi Mission under section

INCOME-TAX OFFICER vs. MAHATMA GANDHI MISSION,, AURANGABAD

In the result, both the appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.1633 & 1634/Pun/2014 यििाारण वषा / Assessment Years : 2010-11 & 2011-12 The Income Tax Officer, अऩीऱाथी/Appellant Ward 1(1), Aurangabad …. Vs. Mahatma Gandhi Mission, Mgm Campus, N-6, Cidco, …. प्रत्यथी / Respondent Aurangabad Pan: Aaatm4256E अऩीऱाथी की ओर से / Appellant By : Shri Rajeev Kumar, Cit प्रत्यथी की ओर से / Respondent By : Shri Pramod Shingte

195 (Del) and the Hon’ble High Court of Punjab & Haryana High Court in CIT Vs. Market Committee, Pipli reported in 330 ITR 16 (P&H) and it was held that in the case of a Trust, depreciation claimed on the assets is to be allowed as deduction ITA Nos.1633 & 1634/PUN/2014 4 Mahatma Gandhi Mission under section

AIR CONTRAL INDIA PVT. LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE

Appeal is allowed in above terms

section 32(1)(iia) of the Income tax Act, 1961 for machinery of plant acquired in the business of manufacture or production of article or thing or in the generation or generation and distribution of power. 2. We further quote the following case laws for additional depreciation u/s32(l)(iia) as under: i) Creamline Dairy Products

DEPUTY COMMSSIONER OF INCOME-TAX,, PUNE vs. IGATE GLOBAL SOLUTIONS LTD.,, PUNE

In the result, both the appeals are partly allowed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita. No.342/Pun/2014 िनधा"रण वष" / Assessment Year : 2009-10

195 from the amount paid to the foreign software suppliers. Similar view has been reiterated by the Hon’ble Karnataka High Court in CIT (IT) Vs. Sunray Computers (P) Ltd. (2012) 348 ITR 196 (Karn) by holding that the payment made for supply of software by L-Technologies, USA was Royalty and liable to be taxed in India u/s.9

PUSPAK STEEL INDUSTRIES PRIVATE LIMITED,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-10, PUNE, PUNE

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

195/-. (v) Disallowance of depreciation on cars of Rs.2,79,725/-. 4. Being aggrieved by the above disallowances/additions, an appeal was filed before the ld. CIT(A), who vide impugned order confirmed the disallowance on account of belated deposit of employees contribution towards PF and ESI following the decision of the Hon’ble Supreme Court in the case of Checkmate

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -1(1),, PUNE vs. M/S. CUMMINS SALES & SERVICES (I),LTD,(FORMERLY KNOWN AS CUMMINS DIESELS SALES & SERVICE LTD,), PUNE

In the result, the appeal filed by the Revenue stands partly allowed

195 ITR 232 (Delhi) held that the benefit of section 72A cannot be availed if the sole idea of the amalgamation was only to avail the benefit of carried forward business losses and unabsorbed depreciation

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

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

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

195 ITR 825 while interpreting Section 12A(b) held that the provision was directory in nature and the Assessing Officer could allow the assessee to file the audit report, at any time before the completion of the assessment. In this case, the assessee, a charitable trust registered with the Commissioner of Income-tax, filed its return on September

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

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

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

195 ITR 825 while interpreting Section 12A(b) held that the provision was directory in nature and the Assessing Officer could allow the assessee to file the audit report, at any time before the completion of the assessment. In this case, the assessee, a charitable trust registered with the Commissioner of Income-tax, filed its return on September

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

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

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

195 ITR 825 while interpreting Section 12A(b) held that the provision was directory in nature and the Assessing Officer could allow the assessee to file the audit report, at any time before the completion of the assessment. In this case, the assessee, a charitable trust registered with the Commissioner of Income-tax, filed its return on September

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

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

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

195 ITR 825 while interpreting Section 12A(b) held that the provision was directory in nature and the Assessing Officer could allow the assessee to file the audit report, at any time before the completion of the assessment. In this case, the assessee, a charitable trust registered with the Commissioner of Income-tax, filed its return on September

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

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

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

195 ITR 825 while interpreting Section 12A(b) held that the provision was directory in nature and the Assessing Officer could allow the assessee to file the audit report, at any time before the completion of the assessment. In this case, the assessee, a charitable trust registered with the Commissioner of Income-tax, filed its return on September

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

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

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

195 ITR 825 while interpreting Section 12A(b) held that the provision was directory in nature and the Assessing Officer could allow the assessee to file the audit report, at any time before the completion of the assessment. In this case, the assessee, a charitable trust registered with the Commissioner of Income-tax, filed its return on September

SAKAL PAPER LTD.,,PUNE vs. ACIT, CIR.-6,, PUNE

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

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.725/Pun/2008 यििाारण वषा / Assessment Year : 2005-06 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-6, Pune …. Vs. Sakal Papers Ltd., 595, Budhawar Peth, …. प्रत्यथी / Respondent Pune – 411002 Pan: Aaccs7605Q

195 (Bom), CIT Vs. Chemosyn Ltd. (2016) 236 TAXMAN 202 (Bom) and the Mumbai Bench of Tribunal in Echjay Industries Ltd. Vs. DCIT reported in 257 ITR 1 (AT) (Mum). 18. The learned Departmental Representative for the Revenue on the other hand, referred to the transaction and pointed out that proper procedure was not followed and the CIT(A) vide

ACIT, CIR.-6., PUNE vs. SAKAL PAPER LTD.,, PUNE

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

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.725/Pun/2008 यििाारण वषा / Assessment Year : 2005-06 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-6, Pune …. Vs. Sakal Papers Ltd., 595, Budhawar Peth, …. प्रत्यथी / Respondent Pune – 411002 Pan: Aaccs7605Q

195 (Bom), CIT Vs. Chemosyn Ltd. (2016) 236 TAXMAN 202 (Bom) and the Mumbai Bench of Tribunal in Echjay Industries Ltd. Vs. DCIT reported in 257 ITR 1 (AT) (Mum). 18. The learned Departmental Representative for the Revenue on the other hand, referred to the transaction and pointed out that proper procedure was not followed and the CIT(A) vide

D vs. DISHTI INDUSTRIES LTD.,, PUNE

In the result, the appeal of the Revenue is partly allowed for

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1277/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2011-12 वष"

section 2(47) of the Act, on which the AO kept his reliance. Contents of Para No.13 and 14 of the order of CIT(A) are relevant and therefore, the same are extracted here as under : “13. Thus, from the above order, it is quite clear that there was no concluded contract between the parties capable of specific performance. This