M/S. SHANGRILA LATEX INDUSTRIES LIMITED,SURAT vs. ASSISTANT COMMISSIONER OF INCOME TAX - 4, SURAT

In the result, appeal filed by the assessees is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.38/Srt/2017 Assessment Year: (2006-07) (Physical Court Hearing) Shangrila Latex Industries Limited, Vs. The Acit, Circle-4, C/O. B.M. Parekh & Co., 203, 2Nd Surat. Floor, Navjivan Society, Bldg. No. 03, Lamington Road, Mumbai-400008. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaics1479E (Appellant) (Respondent) Assessee By Shri Sanjay S. Kapadia, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 01/07/2022 28/09/2022 Date Of Pronouncement

section 72(1). This means that if there is any brought forward loss of the business then it shall be set off in priority to such unabsorbed depreciation. As such unabsorbed depreciation can be set off against such income from other sources". 8. Thus, on verification of the Schedule - 2 of ‘Capital & Reserve’ of the audited balance sheet

THE DCIT, CIRCLE-1,, BHARUCH vs. M/S. GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS LTD.,, BHARUCH

In the result, this ground of appeal is also dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.431/Srt/2018 (Ay 2007-08) & (Hearing In Virtual Court) Deputy Commissioner Of Gujarat Narmada Valley Income-Tax, Circle-1 Bharuch, Fertilizers & Chemicals Vs Above Bank Of Baroda, Ltd. Station Road, Bharuch- P.O. Narmada Nagar, 320001 Dist. Bharuch-392015 Pan : Aaacg 8372 Q अपीलाथ"/Appellant ""यथ" /Respondent आ.अ.सं./Ita No.432/Srt/2018 & ""या"ेप/C.O. No.12/Srt/2021 [A/O Ita No.432/Srt/2018] (Ay 2012-13) Deputy Commissioner Of Gujarat Narmada Valley Income-Tax, Circle-1 Fertilizers & Chemicals Ltd. Vs Bharuch, Above Bank Of P.O. Narmada Nagar, Dist. Baroda, Station Road, Bharuch-392015 Pan : Aaacg 8372 Q Bharuch-320001 अपीलाथ"/Appellant ""यथ" /Respondent/Co- Objector

depreciation on “goodwill”. We find that this ground of appeal is similar to ground No.1 raised by Revenue in ITA No.431/SRT/2018 for assessment year 2007- 08, which we have already dismissed, therefore, following the principle of consistency this ground of appeal is dismissed with similar observation. In the result, this ground of appeal is dismissed. 25. Ground No. 4 relates

THE DCIT, CIRCLE-1,, BHARUCH vs. M/S. GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS LTD.,, BHARUCH

In the result, this ground of appeal is also dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.431/Srt/2018 (Ay 2007-08) & (Hearing In Virtual Court) Deputy Commissioner Of Gujarat Narmada Valley Income-Tax, Circle-1 Bharuch, Fertilizers & Chemicals Vs Above Bank Of Baroda, Ltd. Station Road, Bharuch- P.O. Narmada Nagar, 320001 Dist. Bharuch-392015 Pan : Aaacg 8372 Q अपीलाथ"/Appellant ""यथ" /Respondent आ.अ.सं./Ita No.432/Srt/2018 & ""या"ेप/C.O. No.12/Srt/2021 [A/O Ita No.432/Srt/2018] (Ay 2012-13) Deputy Commissioner Of Gujarat Narmada Valley Income-Tax, Circle-1 Fertilizers & Chemicals Ltd. Vs Bharuch, Above Bank Of P.O. Narmada Nagar, Dist. Baroda, Station Road, Bharuch-392015 Pan : Aaacg 8372 Q Bharuch-320001 अपीलाथ"/Appellant ""यथ" /Respondent/Co- Objector

depreciation on “goodwill”. We find that this ground of appeal is similar to ground No.1 raised by Revenue in ITA No.431/SRT/2018 for assessment year 2007- 08, which we have already dismissed, therefore, following the principle of consistency this ground of appeal is dismissed with similar observation. In the result, this ground of appeal is dismissed. 25. Ground No. 4 relates

SHREE SAINATH SARVAJANIK SEWA MANDAL TRUST,UNA vs. ITO, EXEMPTION WARD, SURAT, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.204/Srt/2021 ("नधा"रणवष" / Assessment Years: (2016-17) (Physical Court Hearing) Shree Sainath Sarvajanik Sewa Vs. The Ito, Exemption Ward, Mandal Trust, Surat. N.H. No.8, Near Ganesh Sisodra, Unn-396445, Gujarat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aafts7802P (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri J. K. Chandnani, Sr. Dr सुनवाईक"तार"ख/ Date Of Hearing : 12/05/2022 घोषणाक"तार"ख/Date Of Pronouncement : 22/07/2022 आदेश / O R D E R Per Dr. A. L. Saini: The Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2016-17, Is Directed Against The Order Passed By The Learned Commissioner Of Income Tax (Appeals), [In Short ‘Ld. Cit(A)’] National Faceless Appeal Centre (In Short ‘Nfac), Delhi, In Appeal No. Itba/Nfac/S/250/2021-22/1036051308(1) Dated 30.09.2021, Which In Turn Arises Out Of A Penalty Order Passed By Assessing Officer U/S 271(1)(C) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’).

31, 2007 and assessment was framed under section 143(3) of the Act, vide order dated November 5, 2008 by the Assessing Officer. The Assessing Officer while completing assessment made disallowance of depreciation

M/S. GUJARAT CHEMICAL PORT TERMINAL CO.LTD.,,BHARUCH vs. THE CIT-I, BARODA

In the result, Cross Objection appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.1501/Ahd/2014 "नधा"रण वष"/Assessment Year: 2009-10 M/S.Gujarat Chemical Port Terminal V The Commissioner Of Income Tax, Vadodara. Company Ltd., S Po Lakhigam, Via Dahej, . Bharuch – 392 130. [Pan: Aaacg 6861 A] अपीलाथ" / Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No.2998/Ahd/2014 "नधा"रण वष"/Assessment Year: 2010-11 The Deputy Commissioner Of Income V M/S.Gujarat Chemical Port Tax, Circle-1(1), Baroda. S Terminal Company Ltd., . Po Lakhigam, Via Dahej, Bharuch – 392 130. [Pan: Aaacg 6861 A] अपीलाथ" / Appellant ""यथ"/Respondent Cross Objection No.30/Ahd/2015 (Arising Out Of Ita No.2998/Ahd/2014) "नधा"रण वष"/Assessment Year: 2010-11 M/S.Gujarat Chemical Port Vs. The Deputy Commissioner Of Terminal Company Ltd., Income Tax, Circle-1(1), Po Lakhigam, Via Dahej, Baroda. Bharuch – 392 130. [Pan: Aaacg 6861 A] अपीलाथ" / Appellant ""यथ"/Respondent

section 31(l)(iia) and is entitled to the claim of additional depreciation in respect of wind mills. Since we have

THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT CHEMICAL PORT TERMINAL CO.LTD.,, BHARUCH

In the result, Cross Objection appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.1501/Ahd/2014 "नधा"रण वष"/Assessment Year: 2009-10 M/S.Gujarat Chemical Port Terminal V The Commissioner Of Income Tax, Vadodara. Company Ltd., S Po Lakhigam, Via Dahej, . Bharuch – 392 130. [Pan: Aaacg 6861 A] अपीलाथ" / Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No.2998/Ahd/2014 "नधा"रण वष"/Assessment Year: 2010-11 The Deputy Commissioner Of Income V M/S.Gujarat Chemical Port Tax, Circle-1(1), Baroda. S Terminal Company Ltd., . Po Lakhigam, Via Dahej, Bharuch – 392 130. [Pan: Aaacg 6861 A] अपीलाथ" / Appellant ""यथ"/Respondent Cross Objection No.30/Ahd/2015 (Arising Out Of Ita No.2998/Ahd/2014) "नधा"रण वष"/Assessment Year: 2010-11 M/S.Gujarat Chemical Port Vs. The Deputy Commissioner Of Terminal Company Ltd., Income Tax, Circle-1(1), Po Lakhigam, Via Dahej, Baroda. Bharuch – 392 130. [Pan: Aaacg 6861 A] अपीलाथ" / Appellant ""यथ"/Respondent

section 31(l)(iia) and is entitled to the claim of additional depreciation in respect of wind mills. Since we have

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-2,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

ENVIRO TECHNOLOGY LIMITED,,ANKLESHWAR vs. THE ACIT.,BHARUCH CIRCLE,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-2,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-2,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. ASSTT. COMMISSIONER OF INCOME TAX., BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. ASSTT. COMMISSIONER OF INCOME TAX,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

ENVIRO TECHNOLOGY LIMITED,,ANKLESHWAR vs. THE ACIT.,BHARUCH CIRCLE,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

depreciation on sludge disallowances. The ld. CIT(A) held that eligibility was available to the assessee from A.Y. 2007-08 only. Thus initial allowance from A.Y. 2006-07 is not as per law. If the assessee had entered into an agreement with GIDC during 16 ITA 2018/Ahd/2014 Enviro Technology Ltd. Vs ACIT &7Ors. appeals this Financial Year

THE ACIT, VAPI CIRCLE,, VAPI vs. M/S. N.R. AGARWAL INDUSTRIES LTD.,, VAPI

In the result the ground No

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) I.T.(Ss)A’S No.14,15,16/Ahd/2016, Ita’S No.1302,1303& 3032/Ahd/2016 Assessment Years: 2007-08, 09-10, 10-11; 2011-12,12-13& 2013-14 N.R.Agarwal Industries Ltd., Vs The Acit/Dcit, Circle-3, Plot No.169 To 169, Phase No.1, Surat. Gidc, Vapi. [Pan: Aaacn 7721 N] अपीलाथ" / Appellant ""थ"/Respondent

depreciation @ 80%. During the period relevant to the AY 2008-09, Suman Paper & Board and NR Paper & Board, the group companies of the assessee were amalgamated with the assessee and become third power plant (Unit-III). A search action under 3 NR Aggarwal Industries Ltd. Assessment Years: 2007-08 to 2013-14 section 132 of Income

N.R. AGARWAL INDUSTRIES LTD.,,VAPI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-3,, SURAT

In the result the ground No

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) I.T.(Ss)A’S No.14,15,16/Ahd/2016, Ita’S No.1302,1303& 3032/Ahd/2016 Assessment Years: 2007-08, 09-10, 10-11; 2011-12,12-13& 2013-14 N.R.Agarwal Industries Ltd., Vs The Acit/Dcit, Circle-3, Plot No.169 To 169, Phase No.1, Surat. Gidc, Vapi. [Pan: Aaacn 7721 N] अपीलाथ" / Appellant ""थ"/Respondent

depreciation @ 80%. During the period relevant to the AY 2008-09, Suman Paper & Board and NR Paper & Board, the group companies of the assessee were amalgamated with the assessee and become third power plant (Unit-III). A search action under 3 NR Aggarwal Industries Ltd. Assessment Years: 2007-08 to 2013-14 section 132 of Income

THE SURAT PEOPLES CO OPERATIVE BANK LTD.,SURAT vs. PRINCIPAL COMMISSIONER OF INCOME TAX, SURAT, SURAT

In the result the appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.278/Srt/2023 (Assessment Year: 2018-19) (Physical Hearing) The Surat People’S Co Operative Vs. The Pcit, Bank Ltd., Surat-1 1, Vasundhara Bhavan, Timliawad, Nanpura, Surat - 395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaat2885P (Appellant) (Respondent)

section 263 of the Income Tax Act, 1961. On verification of Audited Balance Sheet and Tax Audit Report of the assessee, it was observed by ld PCIT that the assessee has purchased fixed asset and claimed depreciation and additional depreciation during the year under consideration as under: ITA No.278/SRT/2023/AY.2018-19 The Surat People’s Co-op. Bank Ltd. During the course

BHAVNA ENTERPRISE,SURAT vs. INCOME TAX OFFICER, WARD 2(3)(3), SURAT

In the result, appeal of the assessee is dismissed

Bench: Dr. A. L. Sainiआयकर अपील सं./Ita No.487/Srt/2023 Assessment Year: (2018-19) (Virtual Hearing) Bhavna Enterprise, Vs. The Adit, 30, Ambika Nagar Society, Cpc, Bengaluru Hazira Road, Ichchhapore, Jurisdictional Assessing Officer: Surat - 394510 The Ito, Ward-2(3)(6), Surat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aagfb5274K (Appellant) (Respondent)

31. Section 43B falls in Part-V of the IT Act. What is apparent is that the scheme of the Act is such that Sections 28 to 38 deal with different kinds of deductions, whereas Sections 40 to 43B spell out special provisions, ITA.487/SRT/2023/AY.2018-19 Bhavna Enterprise laying out the mechanism for assessments and expressly prescribing conditions for disallowances. In terms

SHRI SHASHIKUMAR S MISHRA,BHARUCH vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE -1 , BHARUCH

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.97 To101/Srt/2023 (िनधा"रणवष" / Assessment Years: (2015-16 To 2019-20) (Virtual Court Hearing) Shri Shashikumar S Mishra Asstt. Commissioner Of Income-Tax, Circle-I, Bharuch Ayakar Bhawan, A/7, Ashirwad Nagar Society, Station Road, Bharuch-392001 Bholav, Bharuch-392001 Vs. Enterprises.Nihal@Yahoo.Com Deputy Commissioner Of Income- Tax, Central Circle-2, Vadodara, Aykar Bhawan, Vadodara-39007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aoqpm 4008 N (अपीलाथ" /Appellant ) (""थ"/Respondent)

31. Section 43B falls in Part-V of the IT Act. What is apparent is that the scheme of the Act is such that Sections 28 to 38 deal with different kinds of deductions, whereas Sections 40 to 43B spell out special provisions, laying out the mechanism for assessments and expressly prescribing conditions for disallowances. In terms of this scheme