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391 results for “depreciation”+ Section 21(5)clear

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Key Topics

Section 143(3)71Addition to Income71Disallowance44Section 143(1)42Section 3539Section 80J38Depreciation36Section 14834Deduction34Section 14A

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed and the appeals filed by the Revenue are dismissed

ITA 427/PUN/2024[2015-16]Status: DisposedITAT Pune17 Oct 2024AY 2015-16

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2015-16

For Appellant: Shri Nikhil S PathakFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(35)Section 132Section 133ASection 143(1)Section 143(2)Section 153A

21 MW 2015-16 - No 80IA deduction Wind claimed from the year. There was a loss of Rs.67,26,42,893/- during the year 23 Tonk Khurd (MP) 22.50 2016-17 2018-19 No 80IA deduction Wind MW claimed from the year. There was a loss of Rs.136,59,47,946/- during the year 24 Vejalpur Morbi

Showing 1–20 of 391 · Page 1 of 20

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33
Section 143(2)27
Section 14725

JAIHIND NAGARI SAHKARI PATSANSTHA MARYADIT,NASHIK vs. INCOME TAX OFFICER, WARD- MALEGAON, NASHIK

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

ITA 135/PUN/2023[2017-18]Status: DisposedITAT Pune04 Jul 2023AY 2017-18

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.135/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Jaihind Nagari Sahkari Vs. Ito, Ward-1, Malegaon. Patsanstha Maryadit, Main Road, Raunaqabad, Malegaon, Nashik- 423203. Pan : Aaaaj8229M Appellant Respondent Assessee By : Shri Sanket Joshi Revenue By : Shri Rajesh Gawali Date Of Hearing : 20.06.2023 Date Of Pronouncement : 04.07.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 28.11.2022 For The Assessment Year 2017-18. 2. Briefly, The Facts Of The Case Are That Appellant Is A Co- Operative Society Registered Under The Maharashtra Co-Operative Societies Act, 1960. It Is Engaged In The Business Of Providing Credit Facilities To Its Members & Accepting The Deposits From Its Members. The Return Of Income For The Assessment Year 2017-18

For Appellant: Shri Sanket JoshiFor Respondent: Shri Rajesh Gawali
Section 1Section 139Section 139(1)Section 139(4)Section 142Section 143(3)Section 148Section 80A(5)Section 80CSection 80P

21. When a notice under section 142(1) is issued, the person may furnish the return and while doing so, could also make claim for deduction referable to section 80P. Not much different is the situation when pre-assessment enquiry is carried forward by issuance of notice under section 142 (1) or when notice is issued on the premise

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

In the result, appeal of the Revenue is dismissed

ITA 1255/PUN/2023[2020-21]Status: DisposedITAT Pune26 Mar 2024AY 2020-21

Bench: Shri Partha Sarathi Chaudhury & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1255/Pun/2023 िनधा"रण वष" / Assessment Year : 2020-21 The Deputy Commissioner L B Kunjir, Of Income Tax, V S.No.52/1 Swanand Circle-7, Pune. S Building, Shree Ram Hsg Society, Kharadi, Chandanagar, Pune – 411037. Pan: Aabfl9816E Appellant / Revenue Respondent / Assessee Assessee By Shri Nikhil Pathak – Ar Revenue By Shri R.Y.Balawade – Addl.Cit Date Of Hearing 12/03/2024 Date Of Pronouncement 26/03/2024 आदेश/ Order

Section 250Section 80Section 80I

depreciation and investment allowance of earlier years in respect of the new industrial undertaking, ship or approved hotel will be taken into account in determining the quantum of deduction admissible under the new section 80-1 even though they may have been set off against the profits of the taxpayer from other sources." 21. We are not agreeing with

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

ITA 1046/PUN/2024[2015-16]Status: DisposedITAT Pune05 Jul 2024AY 2015-16

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

For Appellant: Shri Nikhil PathakFor Respondent: Shri Ramnath P Murkunde
Section 115BSection 133ASection 69ASection 69BSection 80I

21. To sum up, before assessing the surrendered income under sections 68, 69, 69A to 69D and levy of higher rate of tax u/s 115BBE, following factors are required to be considered-  Whether nature of income is clearly explained during the survey or during assessment proceedings.  Whether income can be classified under a particular head of income based on nature

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

ITA 418/PUN/2024[2016-17]Status: DisposedITAT Pune05 Jul 2024AY 2016-17

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

For Appellant: Shri Nikhil PathakFor Respondent: Shri Ramnath P Murkunde
Section 115BSection 133ASection 69ASection 69BSection 80I

21. To sum up, before assessing the surrendered income under sections 68, 69, 69A to 69D and levy of higher rate of tax u/s 115BBE, following factors are required to be considered-  Whether nature of income is clearly explained during the survey or during assessment proceedings.  Whether income can be classified under a particular head of income based on nature

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

ITA 240/PUN/2024[2017-18]Status: DisposedITAT Pune05 Jul 2024AY 2017-18

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

For Appellant: Shri Nikhil PathakFor Respondent: Shri Ramnath P Murkunde
Section 115BSection 133ASection 69ASection 69BSection 80I

21. To sum up, before assessing the surrendered income under sections 68, 69, 69A to 69D and levy of higher rate of tax u/s 115BBE, following factors are required to be considered-  Whether nature of income is clearly explained during the survey or during assessment proceedings.  Whether income can be classified under a particular head of income based on nature

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

ITA 1088/PUN/2024[2016-17]Status: DisposedITAT Pune05 Jul 2024AY 2016-17

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

For Appellant: Shri Nikhil PathakFor Respondent: Shri Ramnath P Murkunde
Section 115BSection 133ASection 69ASection 69BSection 80I

21. To sum up, before assessing the surrendered income under sections 68, 69, 69A to 69D and levy of higher rate of tax u/s 115BBE, following factors are required to be considered-  Whether nature of income is clearly explained during the survey or during assessment proceedings.  Whether income can be classified under a particular head of income based on nature

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

ITA 417/PUN/2024[2015-16]Status: DisposedITAT Pune05 Jul 2024AY 2015-16

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

For Appellant: Shri Nikhil PathakFor Respondent: Shri Ramnath P Murkunde
Section 115BSection 133ASection 69ASection 69BSection 80I

21. To sum up, before assessing the surrendered income under sections 68, 69, 69A to 69D and levy of higher rate of tax u/s 115BBE, following factors are required to be considered-  Whether nature of income is clearly explained during the survey or during assessment proceedings.  Whether income can be classified under a particular head of income based on nature

INCOME-TAX OFFICER vs. SHARP DESIGNER AND ENGINEERS (INDIA) PVT. LTD.,, PUNE

In the result, both the appeals of the Revenue are dismissed

ITA 1262/PUN/2015[2011-12]Status: DisposedITAT Pune29 Jan 2018AY 2011-12

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकरअपीलसं. / Ita No.2263/Pun/2014 आयकरअपीलसं आयकरअपीलसं आयकरअपीलसं िनधा"रणवष" िनधा"रणवष"/ Assessment Year : 2010-11 िनधा"रणवष" िनधा"रणवष"

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Ajay Modi, JCIT
Section 139(1)Section 139(5)Section 14ASection 40A(2)(b)Section 80ASection 80I

21. Another issue specific to A.Y. 2011-12 relates to relief granted by the CIT(A) with reference to invoking the provisions of section 80IA(5) of the Act. 22. Relevant facts on this issue include that assessee had 3 wind mills at Satara, Coimbatore and Ambheri. After analyzing the profit and loss statements from each of the units

SHARP DESIGNERS AND ENGINEERS INDIA P. LTD.,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of the Revenue are dismissed

ITA 2263/PUN/2014[2010-11]Status: DisposedITAT Pune29 Jan 2018AY 2010-11

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकरअपीलसं. / Ita No.2263/Pun/2014 आयकरअपीलसं आयकरअपीलसं आयकरअपीलसं िनधा"रणवष" िनधा"रणवष"/ Assessment Year : 2010-11 िनधा"रणवष" िनधा"रणवष"

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Ajay Modi, JCIT
Section 139(1)Section 139(5)Section 14ASection 40A(2)(b)Section 80ASection 80I

21. Another issue specific to A.Y. 2011-12 relates to relief granted by the CIT(A) with reference to invoking the provisions of section 80IA(5) of the Act. 22. Relevant facts on this issue include that assessee had 3 wind mills at Satara, Coimbatore and Ambheri. After analyzing the profit and loss statements from each of the units

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SHARP DESIGNERS & ENGINEERS INDIA PVT. LTD.,, PUNE

In the result, both the appeals of the Revenue are dismissed

ITA 2283/PUN/2014[2010-11]Status: DisposedITAT Pune29 Jan 2018AY 2010-11

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकरअपीलसं. / Ita No.2263/Pun/2014 आयकरअपीलसं आयकरअपीलसं आयकरअपीलसं िनधा"रणवष" िनधा"रणवष"/ Assessment Year : 2010-11 िनधा"रणवष" िनधा"रणवष"

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Ajay Modi, JCIT
Section 139(1)Section 139(5)Section 14ASection 40A(2)(b)Section 80ASection 80I

21. Another issue specific to A.Y. 2011-12 relates to relief granted by the CIT(A) with reference to invoking the provisions of section 80IA(5) of the Act. 22. Relevant facts on this issue include that assessee had 3 wind mills at Satara, Coimbatore and Ambheri. After analyzing the profit and loss statements from each of the units

ASSISTANT COMMISSIONER OF INCOME TAX,, ICHALKARANJI vs. PARIKH SHANKARLAL KUNDANMAL,, KOLHAPUR

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 734/PUN/2017[2005-06]Status: DisposedITAT Pune31 May 2018AY 2005-06

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

21,585/-. The balance loss with the assessee was Rs.65,095/- to be carried forward. The assessee for assessment year 2004-05 had shown income from Wind Mill at Rs.48,68,121/- and after adjusting brought forward unabsorbed depreciation of Rs.65,095/-, the balance income was Rs.48,03,026/-, against which the assessee had claimed the deduction under section 80IA

ASSISTANT COMMISSIONER OF INCOME TAX,, ICHALKARANJI vs. PARIKH SHANKARLAL KUNDANMAL,, KOLHAPUR

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 735/PUN/2017[2006-07]Status: DisposedITAT Pune31 May 2018AY 2006-07

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

21,585/-. The balance loss with the assessee was Rs.65,095/- to be carried forward. The assessee for assessment year 2004-05 had shown income from Wind Mill at Rs.48,68,121/- and after adjusting brought forward unabsorbed depreciation of Rs.65,095/-, the balance income was Rs.48,03,026/-, against which the assessee had claimed the deduction under section 80IA

ASSISTANT COMMISSIONER OF INCOME TAX,, ICHALKARANJI vs. PARIKH SHANKARLAL KUNDANMAL,, KOLHAPUR

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 736/PUN/2017[2009-10]Status: DisposedITAT Pune31 May 2018AY 2009-10

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

21,585/-. The balance loss with the assessee was Rs.65,095/- to be carried forward. The assessee for assessment year 2004-05 had shown income from Wind Mill at Rs.48,68,121/- and after adjusting brought forward unabsorbed depreciation of Rs.65,095/-, the balance income was Rs.48,03,026/-, against which the assessee had claimed the deduction under section 80IA

ASSISTANT COMMISSIONER OF INCOME TAX,, ICHALKARANJI vs. PARIKH SHANKARLAL KUNDANMAL,, KOLHAPUR

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 733/PUN/2017[2004-05]Status: DisposedITAT Pune31 May 2018AY 2004-05

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

21,585/-. The balance loss with the assessee was Rs.65,095/- to be carried forward. The assessee for assessment year 2004-05 had shown income from Wind Mill at Rs.48,68,121/- and after adjusting brought forward unabsorbed depreciation of Rs.65,095/-, the balance income was Rs.48,03,026/-, against which the assessee had claimed the deduction under section 80IA

CAPGEMINI TECHNOLOGY SERVICES INDIA LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE

In the result, both the appeals are partly allowed

ITA 1857/PUN/2017[2013-14]Status: DisposedITAT Pune30 Aug 2022AY 2013-14

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 10ASection 115JSection 391Section 72ASection 74

depreciation of the amalgamating company in relation to the income under the head “Profit and gains of business or profession”. It is not a panacea for all the tax related issues of amalgamation, so as to have application insofar as the other tax entitlements, privileges or benefits in the hands of the amalgamating company, are concerned. 14. Section 74 deals

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -11,, PUNE vs. CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED , (FORMERLY IGATE GLOBAL SOLUTIONS LTD.),, PUNE

In the result, both the appeals are partly allowed

ITA 1935/PUN/2017[2013-14]Status: DisposedITAT Pune30 Aug 2022AY 2013-14

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 10ASection 115JSection 391Section 72ASection 74

depreciation of the amalgamating company in relation to the income under the head “Profit and gains of business or profession”. It is not a panacea for all the tax related issues of amalgamation, so as to have application insofar as the other tax entitlements, privileges or benefits in the hands of the amalgamating company, are concerned. 14. Section 74 deals

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE vs. M/S. BILCARE LIMITED, PUNE

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

ITA 273/PUN/2021[2016-17]Status: DisposedITAT Pune31 May 2023AY 2016-17

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Naveen Gupta
Section 92C

5 Bilcare Packaging BPL – The USD USD 14394.23 Ltd. South Indian 21,700,000 21,700,000 Bank Ltd. 6 Bilcare Packaging BPL – The USD USD 6633.29 Ltd. Lakshmi Vilas 10,000,000 10,000,000 Bank Ltd. 7 Bilcare Packaging BPL – IDBI USD USD 4864.19 Ltd. Bank Ltd. 7,333,000 7,333,000 77,839.71 6. In respect

M/S. BILCARE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE

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

ITA 334/PUN/2021[2016-17]Status: DisposedITAT Pune31 May 2023AY 2016-17

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Naveen Gupta
Section 92C

5 Bilcare Packaging BPL – The USD USD 14394.23 Ltd. South Indian 21,700,000 21,700,000 Bank Ltd. 6 Bilcare Packaging BPL – The USD USD 6633.29 Ltd. Lakshmi Vilas 10,000,000 10,000,000 Bank Ltd. 7 Bilcare Packaging BPL – IDBI USD USD 4864.19 Ltd. Bank Ltd. 7,333,000 7,333,000 77,839.71 6. In respect

SUN INFRASTRUCTURES PRIVATE LIMITED,NASHIK vs. INCOME TAX OFFICER, WARD-2(1), NASHIK, NASHIK

In the result, the appeal of the assessee is dismissed

ITA 647/PUN/2023[2017-18]Status: DisposedITAT Pune15 Jun 2023AY 2017-18

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

For Appellant: N O N EFor Respondent: Shri M.G. Jasnani
Section 139(1)Section 2(24)(x)Section 36(1)(va)Section 43B

21 taxmann.com 527 (Ker.) 5. The question to be considered is whether assessee's claim that the completion of regular assessment based on belated return, entitles the assessee to carry forward unabsorbed business loss computed by the assessing officer. The bar contained in Sections 139(3) and 80 is only in the nature of disentitlement for the assessee to carry