THE ACIT, MORBI CIRCLE,, RAJKOT-GUJARAT vs. M/S. VISHALDEEP SPINNING MILLA LTD.,, MUMBAI

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

deduction of depreciation under section 32 shall be mandatory. 30.3 Under the existing provisions, no deduction for depreciation is allowed

THE DY. CIT (EXEMPTIONS), CIRCLE-2,, AHMEDABAD vs. SMT. TARABEN VRUJLAL MEHTA CHARITABLE FOUNDATION TRUST,, RAJKOT

In the result, appeal filed by the Revenue is dismissed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2009-10

depreciation of Rs.55,32,155/- to the assessee which amounts to double deduction as 100% deduction was allowed to the assessee

THA ACIT, CIRCLE MORBI, MORBI vs. M/S. JAXX VITRIFIED PVT. LTD. , MORBI

In the result, the appeal of the Department is dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

deduction (whether by way of depreciation or otherwise) in computing the income chargeable under the head "profits and gains of business

M/S. SEASTEM LTD.,RAJKOT vs. THE DY. COMMR. OF INCOME TAX, CIRCLE-1, JAMNAGAR

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 301/Rjt/2019 िनधा"रण वष"/Asstt. Years: 2010-2011 Seastem Ltd., D.C.I.T., First Floor, Vs. Circle-1, Royal Corner, Jamnagar. Dr. Yagnik Road, Rajkot. Pan: Aahcs9428G

depreciable asset and the same should be deducted from the block of assets in Ships in depreciation statement. Hence, an amount

LION PALACE,RAJULA vs. THE PR. CIT-1, RAJKOT, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकरअपीलसं./Ita No. 106/Rjt/2022 धििाधरणणवध/Asstt. Year:2016-2017 Lion Palace, Vs. The Principal Commissioner Hotel Lords Lion, Of Income Tax, Near By Pass, Rajkot-1, Jafarabad Road, Rajkot. Rajula, District-Amreli. Gujarat-365560. Pan: Aaefl1238P (Applicant) (Respondent) Assessee By : Shri Mahesh Ladmor, A.R Revenue By : Shri Shramdeep Sinha, Cit. Dr सुिणाईकीतारीख/Date Of Hearing : 04/12/2023 घोवणाकीतारीख/Date Of Pronouncement: 08/12/2023 आदेश/O R D E R Per Waseem Ahmed:

deduction on account of depreciation u/s 32 of the Act even the income from lease rent is charged to tax under

THE ITO, WARD 1(3), RAJKOT-GUJARAT vs. M/S PAVAN CONSTRUCTION CO, RAJKOT-GUJARAT

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

depreciation. Accordingly, the AO opined that the assessee has declared higher amount of profit in its books of accounts resulting higher share of profit to the partners of the firm. 20.1 As a result of higher apportionment of the profit to the partners, the partner’s capital increased resulting higher amount of deduction

SAURASHTRA GRAMIN BANK MANAGER (F & A), RAJKOT,RAJKOT vs. THE PR. COMMISSIONER OF INCOME TAX-I,, RAJKOT

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 37/Rjt/2022 (Assessment Year: 2017-18) (Hybrid Hearing) Saurashtra Gramin Bank Vs. The Pr. Cit-1, Manager (F & A), Rajkot 1St Floor Wing 2, Lic Jeevan Prakash Building, Tagore Road, Rajkot-360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahas2116H (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation on investment, however, the nature of deduction is notional in nature and not allowable as an expense as per the provision

THE ASSTT. COMMR. OF INCOME TAX, CIRCLE-1(2),, RAJKOT-GUJARAT vs. SHRI RAJKOT DISTT. CO. OP. BANK LTD.,, RAJKOT-GUJARAT

Bench: Us.

depreciation on securities though notional in nature. It was further pointed out that the Hon,ble High Court of Bombay in various decisions had held the claim of deduction

SHRI NITINBHAI T. BHUPTANI, L.I.C,RAJKOT-GUJARAT vs. THE DY. COMMR. OF INCOME TAX, CIR.-4,, RAJKOT-GUJARAT

In the result appeals of the assessee are partly allowed

Bench: Shri Pramod Kumar, Accountatn Member & Shri Rajpal Yadavआयकर अपील सं./ Ita No. 13/Rjt/2016 & 14/Rjt/2016 & 182/Rjt/2017 "नधा"रण वष"/Asstt. Year: 2010-2011, 2011-12 & 2012-13

deduction in the shape of depreciation etc. The Ld. Revenue Authorities have rightly treated them as a salary income because

APEX IRRIGATION,RAJKOT vs. COMMISSIONER OF INCOME TAX APPEALS, NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

deductible, and Rs.29,750/- on account of depreciation disallowance. 8. The assessee filed an appeal against the order dated 16.12.2019 of before

THE ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM vs. M/S RISHI KIRAN LOGISTICS P. LTD.,, GANDHIDHAM

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

depreciation would be NIL and disallowed the claim of deduction u/s 80IA of the Act. (iii) Disallowed the claim of deduction

M/S. RISHI KIRAN LOGISTICS PVT. LTD.,,GANDHIDHAM vs. THE JOINT COMMR. OF INCOME TAX,, GANDHIDHAM

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

depreciation would be NIL and disallowed the claim of deduction u/s 80IA of the Act. (iii) Disallowed the claim of deduction

ALPHA HI-TECH FUEL LTD.,,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, SNR CIRCLE,, SURENDRANAGAR

In the result the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकरअपीलसं./I.T.A. No.68/Rjt/2009 (धििाधरणणवध/ Assessment Year 2005-06) Alpha Hi-Tech Fuel Limited, बिाम/ D.C.I.T, Station Road, Surendranagar Vs. Lakhtar, Dist. Surendranagar, Gujarat-382775 स्ायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaca4258P (अपीला््/Appellant) (प्य््/ Respondent) अपीला््थरसे/ Appellant By : Shri Kalpesh Doshi, A.R Shri B.D Gupta, Sr. D.R. प्य््करथरसे/Respondent By: सुिणाईकरतारीख/ Date Of Hearing 08/06/2023 घोवणाकरतारीख/Date Of Pronouncement 05/09/2023 आदेश/ O R D E R Per Waseem Ahmed:

deduction of Rs. 44,68,606.00 under the provisions of section 80-IA of the Act 5. However, the AO found that the assessee has been carried out its business activities from the assessment year 1994-95 as evident from the depreciation

THE DHARANGADHRA PEOPLE'S CO. OP. BANK LTD.,,DHRANGADHRA vs. THE DY. COMMR. INCOME TAX, SURENDRANAGAR CIRCLE,, SURENDRANAGAR

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. Nos.130-131/Rjt/2017 ("नधा"रण वष" / Assessment Years: 2012-13 & 2013-14) बनाम/ The Dharangadhra People’S D.C.I.T, Co-Op. Bank Ltd., Surendranagar Circle, Vs. Kalpvarksh, Mandvi Chowk, Surendranagar. Dhrangadhara, Surendranagar Circle, Surendranagar. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaat1192R (अपीलाथ" /Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से / Appellant By : Shri D.M. Rindani, A.R ""यथ" क" ओर से/Respondent By : Shri Anil Kumar, Sr. D.R सुनवाई क" तार"ख / Date Of Hearing 20/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 18/12/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Separate Order Of The Learned Commissioner Of Income Tax (Appeals)-7, Ahmedabad [Ld. Cit(A) In Short] Of Even Dated 01/02/2017, Arising In The Matter Of Assessment Order Passed Under S. 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Dated 16/02/2015 & 27/11/2015 Relevant To Assessment Years (A.Y.S) 2012-13 & 2013-14 Respectively.

depreciation reserve fund/Bad and doubtful ITA Nos.130-131/RJT/2017 A.Ys. 2012-13 & 2013-14 debt fund/profit and loss account. Accordingly he was of the view that further deduction

ALPHA HI-TECH FUEL LTD.,,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, SNR CIRCLE,, SURENDRANAGAR

In the result, this appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. Nos.578-581/Rjt/2008 ("नधा"रण वष" / Assessment Years : 2000-01 To 2003-04) & आयकर अपील सं./I.T.A. No.67/Rjt/2009 ("नधा"रण वष" / Assessment Year : 2004-05) बनाम/ Alpha Hi-Tech Fuel Limited, Cit(Appeals)-Xvi, Station Road, Lakhtar, Dist. Ahmedabad. Vs. Surrendranagar, Gujarat-382775 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaca4258P (अपीलाथ" /Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से / Appellant By : Shri Kalpesh Doshi, A.R ""यथ" क" ओर से/Respondent By : Shri Anil Kumar Das, Dr. सुनवाई क" तार"ख / Date Of Hearing 16/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 18/09/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeals Have Been Filed At The Instance Of The Assessee Against The Appellate Orders Of The Commissioner Of Income Tax(Appeals)-Ii, Rajkot [Cit(A) In Short] Arising In The Assessment Order Passed Under S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Relevant To Assessment Years (A.Ys) 2000-01 To 2004-05. Ita No.578-581/Rjt/2008 A.Y.S 2000-01 To 2004-05 First We Take Assessee’S Appeal Bearing Ita No. 578/Rjt/2008. The Assessee Has Raised The Following Grounds Of Appeal:

deduction under section 80 IA of the Act for a period of 10 years beginning from the assessment year 1994-95 to 2003- 04. The AO also observed that the assessee has claimed depreciation

ALPHA HI-TECH FUEL LTD.,,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, SURENDRANAGAR CIRCLE,, SURENDRANAGAR

In the result, this appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. Nos.578-581/Rjt/2008 ("नधा"रण वष" / Assessment Years : 2000-01 To 2003-04) & आयकर अपील सं./I.T.A. No.67/Rjt/2009 ("नधा"रण वष" / Assessment Year : 2004-05) बनाम/ Alpha Hi-Tech Fuel Limited, Cit(Appeals)-Xvi, Station Road, Lakhtar, Dist. Ahmedabad. Vs. Surrendranagar, Gujarat-382775 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaca4258P (अपीलाथ" /Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से / Appellant By : Shri Kalpesh Doshi, A.R ""यथ" क" ओर से/Respondent By : Shri Anil Kumar Das, Dr. सुनवाई क" तार"ख / Date Of Hearing 16/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 18/09/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeals Have Been Filed At The Instance Of The Assessee Against The Appellate Orders Of The Commissioner Of Income Tax(Appeals)-Ii, Rajkot [Cit(A) In Short] Arising In The Assessment Order Passed Under S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Relevant To Assessment Years (A.Ys) 2000-01 To 2004-05. Ita No.578-581/Rjt/2008 A.Y.S 2000-01 To 2004-05 First We Take Assessee’S Appeal Bearing Ita No. 578/Rjt/2008. The Assessee Has Raised The Following Grounds Of Appeal:

deduction under section 80 IA of the Act for a period of 10 years beginning from the assessment year 1994-95 to 2003- 04. The AO also observed that the assessee has claimed depreciation

UMA COTTON & OIL INDUSTRIES,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD), RANGE-2,, RAJKOT-GUJARAT

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.13/Rjt/2013 "नधा"रण वष"/Asstt. Year: 2008-2009

deduction on account of the remuneration /interest paid to the partners/retiring partners and unabsorbed depreciation brought forward from the assessment

M/S. EMBOZA GRANITO PVT. LTD. ,MORBI vs. THE PR. CIT-3 , RAJKOT

In the result, appeal filed by assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 240/Rjt/2019 िनधा"रण वष"/Asstt. Years: 2016-2017

depreciation of Rs.6.25 crores on plant and machinery installed during the year under consideration and (3) deduction claimed on account