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

depreciation chart for Income Tax Purposes 1 2016-17 43.20 Cr. 44.57 Cr. 5,9,38 & 39 2 2017-18 59.64 Cr. 61.56 Cr. 5,9,55 & 56 3 2018-19 37.09 Cr. 37.09 Cr. 44, 46, 132, 152 & 159 4 2019-20 32.24 Cr. 33.24 Cr. 42,44,147,64

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

depreciation chart for Income Tax Purposes 1 2016-17 43.20 Cr. 44.57 Cr. 5,9,38 & 39 2 2017-18 59.64 Cr. 61.56 Cr. 5,9,55 & 56 3 2018-19 37.09 Cr. 37.09 Cr. 44, 46, 132, 152 & 159 4 2019-20 32.24 Cr. 33.24 Cr. 42,44,147,64

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

depreciation chart for Income Tax Purposes 1 2016-17 43.20 Cr. 44.57 Cr. 5,9,38 & 39 2 2017-18 59.64 Cr. 61.56 Cr. 5,9,55 & 56 3 2018-19 37.09 Cr. 37.09 Cr. 44, 46, 132, 152 & 159 4 2019-20 32.24 Cr. 33.24 Cr. 42,44,147,64

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

depreciation chart for Income Tax Purposes 1 2016-17 43.20 Cr. 44.57 Cr. 5,9,38 & 39 2 2017-18 59.64 Cr. 61.56 Cr. 5,9,55 & 56 3 2018-19 37.09 Cr. 37.09 Cr. 44, 46, 132, 152 & 159 4 2019-20 32.24 Cr. 33.24 Cr. 42,44,147,64

SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. ITO WARD6(1), PUNE

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

64\n& 170\n5\n2020-21\n43.41 Cr.\n43.41 Cr.\n6,10,72 & 73\n\n2.\nThe Ld. Departmental Representative (DR) has argued that the\nsubsidy received by the assessee from Government of Maharashtra\nunder the Package Scheme of Incentives (PSI) (2007) (Mega Project)\nis taxable as income u/s 2(24)(xviii), because explanation (10) to\nSection

ACIT, PUNE vs. SHRINIWAS ENGINEERING AUTO COMPONENTS PRIVATE LIMITED, PUNE

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

64\n& 170\n5\n2020-21\n43.41 Cr.\n43.41 Cr.\n6,10,72 & 73\n2. The Ld. Departmental Representative (DR) has argued that the\nsubsidy received by the assessee from Government of Maharashtra\nunder the Package Scheme of Incentives (PSI) (2007) (Mega Project)\nis taxable as income u/s 2(24)(xviii), because explanation (10) to\nSection 43 of the Income

SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. ITO WARD 6(1), PUNE

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

64\n& 170\n5\n2020-21\n43.41 Cr.\n43.41 Cr.\n6,10,72 & 73\n2. The Ld. Departmental Representative (DR) has argued that the\nsubsidy received by the assessee from Government of Maharashtra\nunder the Package Scheme of Incentives (PSI) (2007) (Mega Project)\nis taxable as income u/s 2(24)(xviii), because explanation (10) to\nSection 43 of the Income

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 (“UD”) were required to be reduced for the purposes of Explanation (iii) to section 115JB of the Act, on a conservative and rational basis, the assessee, in its return of income for AY 2013-14 filed on 26th November 2013,reduced the amount of INR 300 crores in the ratio of BFL and UD (refer Page No 64

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 (“UD”) were required to be reduced for the purposes of Explanation (iii) to section 115JB of the Act, on a conservative and rational basis, the assessee, in its return of income for AY 2013-14 filed on 26th November 2013,reduced the amount of INR 300 crores in the ratio of BFL and UD (refer Page No 64

MAHAKALESHWAR TOLLWAYS PRIVATE LIMITED,UJJAIN vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -1, NASHIK

Appeals are allowed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.491 & 492/Pun/2020 ननधधारण वषा / Assessment Year : 2012-13 & 2013-14 Mahakaleshwar Tollways Pvt. Ltd., Ninora Toll Plaza Ninora, Ujjain – 456 001 .......अपऩलधथी / Appellant Pan : Aafcm7676Q

64,68,843/- ; assessment year wise, respectively, followed by non- condonation of delay for 420 days each therein. 3. It emerges first of all that the CIT(A)’s identical detailed discussion in para 3.1 to 3.4 has considered the assessee’s condonation averments of communication gap at various levels. Suffice to say, hon’ble apex court’s land mark

MAHAKALESHWAR TOLLWAYS PRIVATE LIMITED,UJJAIN vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -1, NASHIK

Appeals are allowed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.491 & 492/Pun/2020 ननधधारण वषा / Assessment Year : 2012-13 & 2013-14 Mahakaleshwar Tollways Pvt. Ltd., Ninora Toll Plaza Ninora, Ujjain – 456 001 .......अपऩलधथी / Appellant Pan : Aafcm7676Q

64,68,843/- ; assessment year wise, respectively, followed by non- condonation of delay for 420 days each therein. 3. It emerges first of all that the CIT(A)’s identical detailed discussion in para 3.1 to 3.4 has considered the assessee’s condonation averments of communication gap at various levels. Suffice to say, hon’ble apex court’s land mark

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -3, NASHIK vs. WINDSOR MACHINES LTD., MUMBAI

In the result, the appeal of Revenue is partly allowed

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

section 32(2) of the Act as discussed above. 5.5 However, it is seen that in this ground of appeal, the appellant has challenged the disallowance of carry forward of unabsorbed depreciation totaling to Rs.19,89,09,661/- pertaining to AY 1997-98 to AY 2000-01, while as noted by the AO, the assessed unabsorbed depreciation pertaining

ATHARVA POLYMERS PRIVATE LIMITED,SHIRUR vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -1(1), PUNE

In the result, appeal of the Assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.1912/Pun/2019 िनधा"रणवष" / Assessment Year : 2014-15 Atharva Polymers Private The Dy.Commissioner Of Limited, Vs. Income Tax, Cricle-1(1), Gat No.596, Dhoksanghvi, Pune. Ranjangaon Ganpati, Tal.Shirur, Pune – 412209. Pan: Aahca 1363 L Appellant/ Assessee Respondent /Revenue Assessee By Shri Rohit Tapadiya– Ar Revenue By Shri S P Walimbe – Dr Date Of Hearing 09/06/2022 Date Of Pronouncement 06/07/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-1, Punedated 25.07.2019For The A.Y.2014-15.The Assessee Has Raised The Following Grounds Of Appeal: “1. The Ld. Cit(A) Erred In Passing Ex Party Order. 2. The Ld. Ao Erred & Cit(A) Erred In Confirming The Addition Made Of Rs.1,93,452/- On Account Of Delayed Contribution Made To Pf Although The Same Was Paid Before The Due Date Of Furnishing Of Return U/S 139(1). 3. The Ld. Ao Erred & Ld. Cit(A) Erred In Confirming The Treatment Made W.R.T. Subsidy Received Of Rs.2,72,696/- Under Ip Scheme By Deducting The Receipt From Block Of Asset. 4. The Ld. Ao Erred & Ld. Cit(A) Erred In Not Treating The Subsidy Received Under Ip Scheme As Capital Receipt.

64,790/-. The case was selected for scrutiny and the assessment was framed under section 143(3) of the Act at the income of Rs.66,78,940/-. 2.1 In the assessment order the Assessing Officer(AO) disallowed Rs.1,93,452/-, which was employees’ contribution to Provident Fund, which was deposited by the assessee after the due date mentioned

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]

64,77,073 Depreciation 1,15,364 Add: Profit 38,766 Less: Other Income 1,28,20,911 Closing WIP 33,99,79,976 8. Analysis of Assessee’s Balance Sheet shows following facts : As on 31.3.2015 As on 31.3.2014 Share Capital 2,19,00,000/- 2,19,00,000/- Reserve & Surplus

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

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

Bench: Shri R. K. Panda & Shri Vinay Bhamore

depreciation is of Rs.31,61,21,110/-. It was submitted that the net profit earned on derivative transactions referred to in the notice u/s 148 of the Act has been properly accounted for in the Profit and Loss Account and there is no attempt to avoid income tax. It was accordingly requested to drop the proceedings initiated

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

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

Bench: Shri R. K. Panda & Shri Vinay Bhamore

depreciation is of Rs.31,61,21,110/-. It was submitted that the net profit earned on derivative transactions referred to in the notice u/s 148 of the Act has been properly accounted for in the Profit and Loss Account and there is no attempt to avoid income tax. It was accordingly requested to drop the proceedings initiated

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

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

depreciation of Rs.27,20,59,980/- not made by the assessee in its original return as well as revised return of income ?‖ 37. Ground of appeal no.1 challenges the correctness of decision of the ld. CIT(A) in holding that the performance guarantee is not an international transaction. The relevant findings

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

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

depreciation of Rs.27,20,59,980/- not made by the assessee in its original return as well as revised return of income ?‖ 37. Ground of appeal no.1 challenges the correctness of decision of the ld. CIT(A) in holding that the performance guarantee is not an international transaction. The relevant findings