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72 results for “depreciation”+ Section 40A(2)(a)clear

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Key Topics

Section 14A48Addition to Income40Section 143(3)36Section 12A36Disallowance34Section 10(20)24Section 1124Section 26320Section 40A(3)18Depreciation

DEPUTY COMMISSIONER OF INCOME-TAX vs. M/S. RAJMAL LAKHICHAND,,

In the result, appeal of the Department is dismissed

ITA 832/PUN/2015[2010-11]Status: DisposedITAT Pune28 Feb 2018AY 2010-11

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

For Appellant: Shri Sunil PathakFor Respondent: Shri Rajeev Kumar
Section 143(2)Section 14ASection 2(22)(e)Section 36(1)(iii)Section 40A(2)(a)

section 32(2) of the Act. As per Chapter IV-D, the book profits are determined after deduction of depreciation. In the assessee‟s case, there would be loss after deduction of unabsorbed carry forward depreciation to the tune of Rs.10,84,75,430/-, therefore, remuneration to the extent of Rs.1,50,000/- would only be allowable

Showing 1–20 of 72 · Page 1 of 4

18
Section 80I17
Deduction16

M/S. RAJMAL LAKHICHAND vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the Department is dismissed

ITA 670/PUN/2015[2010-11]Status: DisposedITAT Pune28 Feb 2018AY 2010-11

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

For Appellant: Shri Sunil PathakFor Respondent: Shri Rajeev Kumar
Section 143(2)Section 14ASection 2(22)(e)Section 36(1)(iii)Section 40A(2)(a)

section 32(2) of the Act. As per Chapter IV-D, the book profits are determined after deduction of depreciation. In the assessee‟s case, there would be loss after deduction of unabsorbed carry forward depreciation to the tune of Rs.10,84,75,430/-, therefore, remuneration to the extent of Rs.1,50,000/- would only be allowable

ASSOCIATED DAIRY FAB PVT. LTD.,,JALGAON vs. JOINT COMMISSIONER OF INCOME-TAX,,

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

ITA 177/PUN/2014[2009-10]Status: DisposedITAT Pune09 Feb 2018AY 2009-10

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.177/Pun/2014 यििाारण वषा / Assessment Year : 2009-10 Associated Dairy Fab Pvt. Ltd., B-5/1, Midc Area, Ajantha Road, अऩीऱाथी/Appellant Jalgaon – 425003 …. Pan: Aaeca3963F Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Jalgaon

For Appellant: Shri Nikhil PathakFor Respondent: Shri Mukesh Jha
Section 143(3)(ii)Section 40A(3)

section 40A(2)(b) of the Act in the hands of assessee on account of remuneration paid to the directors. The grounds of appeal No.5 to 5.2 are thus, partly allowed. 17. Coming to the appeal filed by the Revenue, wherein several grounds of appeal have been raised. Both the learned Authorized Representatives were heard on each of the grounds

DEPUTY COMMISSIONER OF INCOME-TAX vs. ASSOCIATED DAIRY FAB PVT. LTD.,, JALGAON

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

ITA 211/PUN/2014[2009-10]Status: DisposedITAT Pune09 Feb 2018AY 2009-10

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.177/Pun/2014 यििाारण वषा / Assessment Year : 2009-10 Associated Dairy Fab Pvt. Ltd., B-5/1, Midc Area, Ajantha Road, अऩीऱाथी/Appellant Jalgaon – 425003 …. Pan: Aaeca3963F Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Jalgaon

For Appellant: Shri Nikhil PathakFor Respondent: Shri Mukesh Jha
Section 143(3)(ii)Section 40A(3)

section 40A(2)(b) of the Act in the hands of assessee on account of remuneration paid to the directors. The grounds of appeal No.5 to 5.2 are thus, partly allowed. 17. Coming to the appeal filed by the Revenue, wherein several grounds of appeal have been raised. Both the learned Authorized Representatives were heard on each of the grounds

DEPUTY COMMISSIONER OF INCOME-TAX vs. RAJMAL LAKHICHAND JEWELLERS PVT. LTD.,,

Appeal of the assessee is partly allowed and appeal of the Department is dismissed

ITA 834/PUN/2015[2010-11]Status: DisposedITAT Pune07 Mar 2018AY 2010-11

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

For Appellant: Shri Sunil PathakFor Respondent: Shri Rajeev Kumar
Section 143(2)Section 14ASection 40A(2)(a)

section 40A(2)(a) i.e. purchase of gold bullion and gold ornaments from the sister concerns by paying higher price. The other income shown by the appellant will remain unchanged. The other confirmed additions will not be affected.” 18. The assessee has assailed the G.P. estimated by Commissioner of Income Tax (Appeal) being on the higher side. As against

RAJMAL LAKHICHAND JEWELLERS PVT. LTD.,,JALGAON vs. DEPUTY COMMISSIONER OF INCOME-TAX,, JALGAON

Appeal of the assessee is partly allowed and appeal of the Department is dismissed

ITA 672/PUN/2015[2010-11]Status: DisposedITAT Pune07 Mar 2018AY 2010-11

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

For Appellant: Shri Sunil PathakFor Respondent: Shri Rajeev Kumar
Section 143(2)Section 14ASection 40A(2)(a)

section 40A(2)(a) i.e. purchase of gold bullion and gold ornaments from the sister concerns by paying higher price. The other income shown by the appellant will remain unchanged. The other confirmed additions will not be affected.” 18. The assessee has assailed the G.P. estimated by Commissioner of Income Tax (Appeal) being on the higher side. As against

DEPUTY COMMISSIONER OF INCOME-TAX ,, JALGAON vs. M/S. RAJMAL LAKHICHAND & SONS,,

Appeal is dismissed

ITA 1547/PUN/2014[2009-10]Status: DisposedITAT Pune14 May 2018AY 2009-10

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपील सं. / Ita No.1360/Pun/2014 आयकर अपील सं आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2009-10 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri Sunil PathakFor Respondent: Shri Anil Kumar Chaware
Section 14Section 143(3)Section 14ASection 36

40A(2)(b) of the Act come in operation only if there is excessive or unreasonable payments to sister concerns. As such, it is in the knowledge of everybody that the sale price of the Bullion is market guided one. Further, it is not the case of the Revenue that the Bullion price vary on a particular date

M/S. RAJMAL LAKHICHAND & SONS vs. JOINT COMMISSINER OF INCOME-TAX,,

Appeal is dismissed

ITA 1360/PUN/2014[2009-10]Status: DisposedITAT Pune14 May 2018AY 2009-10

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपील सं. / Ita No.1360/Pun/2014 आयकर अपील सं आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2009-10 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri Sunil PathakFor Respondent: Shri Anil Kumar Chaware
Section 14Section 143(3)Section 14ASection 36

40A(2)(b) of the Act come in operation only if there is excessive or unreasonable payments to sister concerns. As such, it is in the knowledge of everybody that the sale price of the Bullion is market guided one. Further, it is not the case of the Revenue that the Bullion price vary on a particular date

ASST COMMISSIONER OF INCOME TAX , PANVEL vs. EPYGEN BIOTECH PRIVATE LIMITED, NAVI MUMBAI

In the result, appeal of the Revenue is allowed

ITA 2719/PUN/2024[2018-19]Status: DisposedITAT Pune10 Mar 2026AY 2018-19

Bench: Dr. Manish Borad & Shri Vinay Bhamore

For Appellant: Shri Satya Prakash Singh, CAFor Respondent: Shri Nasavarak Jore,atj, Addl.CIT
Section 143(2)Section 143(3)Section 250Section 35(1)(iv)

40A to an employee engaged in such scientific research or on the purchase of materials used in such scientific research, the aggregate of the expenditure so laid out or expended within the three years immediately preceding the commencement of the business shall, to the extent it is certified by the prescribed authority to have been laid out or expended

SANJAY VASANTRAO WANI,,NASHIK vs. INCOME-TAX OFFICER,,

In the result, the appeal of the assessee is allowed

ITA 2491/PUN/2016[2012-13]Status: DisposedITAT Pune20 Jun 2018AY 2012-13

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.2491/Pun/2016 िनधा$रण वष$ / Assessment Year : 2012-13

For Appellant: Shri Pramod ShingteFor Respondent: Shri Ajay Modi
Section 40A(3)Section 44A

2. On the basis of facts and in the circumstances of the case and as per law, the Commissioner of Income Tax, (Appeals)-I, Nashik, is not justified in confirming disallowance of Rs. 5,55,633/- on account by invoking the provisions of Section 40A(3) of the Act particularly when the payments were made for purchase of immovable properties

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

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

ITA 97/PUN/2024[2009-10]Status: DisposedITAT Pune17 Sept 2024AY 2009-10

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

For Appellant: Shri Nikhil PathakFor Respondent: Shri Sourabh Nayak, Addl. CIT
Section 143(3)Section 147Section 148Section 40A(3)

Section 40A(3) This clearly establishes that the AO has examined the issue at the time of assessment. 5.5 The Hon'ble Bombay High Court in the case of Bharat Amratlal Shah Vs ITO in Writ Petition (L) No. 3268 of 2022 [Date of Judgement/Order: 10/02/2023] held that reopening of assessment on the basis of change of opinion without reasons

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. RAJMAL LAKHICHAND & SONS,,

In the result, the appeal of the Revenue is dismissed

ITA 1177/PUN/2016[2011-12]Status: HeardITAT Pune18 Oct 2018AY 2011-12

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

For Appellant: Shri Rajeev Kumar, CITFor Respondent: Shri Sunil Pathak
Section 142Section 14ASection 40A(2)(a)Section 40A(2)(b)

2)(b) of the Act. 3. Briefly stated relevant facts of the case include that assessee is engaged in the business of trading in silver/gold articles, ornaments and bullion. Assessee filed the return of income declaring Nil income and claimed carry forward of unabsorbed depreciation of Rs.26,72,095/-. During the year under consideration, the turnover of the assessee

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

40A(2)(b) of the Act. We therefore uphold the order of CIT(A) for both the years and dismiss the relevant grounds raised by the revenue for both the assessment years, i.e. A.Yrs. 2010-11 and 2011-12. 21. Another issue specific to A.Y. 2011-12 relates to relief granted by the CIT(A) with reference to invoking

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

40A(2)(b) of the Act. We therefore uphold the order of CIT(A) for both the years and dismiss the relevant grounds raised by the revenue for both the assessment years, i.e. A.Yrs. 2010-11 and 2011-12. 21. Another issue specific to A.Y. 2011-12 relates to relief granted by the CIT(A) with reference to invoking

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

40A(2)(b) of the Act. We therefore uphold the order of CIT(A) for both the years and dismiss the relevant grounds raised by the revenue for both the assessment years, i.e. A.Yrs. 2010-11 and 2011-12. 21. Another issue specific to A.Y. 2011-12 relates to relief granted by the CIT(A) with reference to invoking

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

ITA 1153/MUM/2016[2003-04]Status: DisposedITAT Pune30 Sept 2025AY 2003-04

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

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

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

ITA 1155/MUM/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

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

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

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

ITA 545/PUN/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

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

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

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

ITA 1154/MUM/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

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

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

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

ITA 544/PUN/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

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

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since