SHREE HARI PROCESSORS INDIA PVT. LTD.,SURAT vs. INCOME TAX OFFICER - 2(1)(2) (NEW ITO WD. 2(1)(3), SURAT

In the result, the appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Shree Hari Processors India Income Tax Officer, Pvt. Ltd., Block No.99/P, Post Ward-2(1)(2), [New Ito Wd Vs Tatithaiya, 2(1)(3)] Aayakar Bhawan, Tal-Palsana, Majura Gate, Surat-394 372 Surat-395001 E-Mail:Jain_Tex@Yahoo.Com Pan : Aadca 1313 N Appellant /Assessee Respondent / Revenue

46,320/-. The depreciation schedule as a part of the audited statement was enclosed. The assessee was under bona fide belief that plant and machineries were let out on rent and that depreciation is allowable. The machineries were installed in the process house property and these were not removed from the premises. The plant & machinery were sold in financial year

ACIT, CIRCLE-2(1)(1), INCOME TAX DEPARTMENT vs. S D MATERIAL HANDLERS PRIVATE LIMITED, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.499/Srt/2023 (िनधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Assistant Commissioner Of M/S S D Material Handlers Pvt. Ltd. Income-Tax, Circle-2(1)(1), Surat Vs. 405-408, Shivalik Western, L.P. Room No.612, 6Th Floor, Aayakar Savani Road, Adajan Adajan Bhavan, Near Majura Gate, Bo, Surat-395009 Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccd 3481B (अपीलाथ" /Assessee) (""थ"/Respondent)

section 143(3) r.w.s. 263 of the Income Tax Act, 1961 (in short ‘the Act’), dated 28.08.2018. 2. The grounds of appeal raised by the Revenue are as follows: “1. On the facts and circumstances of the case and in law, ld. Learned CIT(A) has erred in directing the Assessing Officer to allow depreciation @ 30% on machineries instead

M/S. BAYER VAPI PRIVATE LTD. (FORMERLY KNOWN AS BILAG INDUSTRIES P. LTD.),VAPI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, VAPI CIRCLE,, VAPI

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

Bench: Shri Amarjit Singh & Shri O.P. Meena, Accoutant Member आ.अ.सं/.I.T.A No’S.2886/Ahd/2010, 794/Ahd/2014 & 1769/Ahd/2016 िनधा"रण वष"/Assessment Years:2006-07, 2009-10 & 2011-12 बनाम M/S. Bilag Industries Pvt. Ltd. , Addl. Cit Range- ( Now Known As M/S. Bayer Vapi Vs. Vapi, Range Vapi Private Limited) 306/3,Phase-Ii Shivam Commercial Complex Gidc-1, Vapi Gujarat National Highway No 8 Vapi Pan: Aabcb 2100 L अपीलाथ" Appellant ""यथ"/Respondent Shri A. Gopalakrishnan Aiyer - Ca िनधा"रती क" ओर से /Assessee By Shri O. P. Singh Cit (D.R.) राज"व क" ओर से /Revenue By 26.09.2019 सुनवाई क" तारीख/ Date Of Hearing: 24.10.2019 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Am: 1. The Above Captioned Three Appeals For The Assessment Year 2006-07, 2009-10 & 2011-12 By The Assessee Are Directed Against The Assessment Order Passed U/S. 143(3) R.W.S. 144C Dated 28.07.2010 & Dated 15.01.2014 Respectively Under The Income-Tax Act,1961 ['The Act' For Short] On The Direction Of Drp By The Addl. Cit Range-Vapi Range Vapi (Herein After Referred As The Ao) & The Appeal For The Assessment Year 2011-12 By The Assessee Is Directed Against The Order Of Ld. Cit (A) Dated 29.04.2016. Since The Common Issues Are Involved In These Appeals Therefore, These Were Heard Together & Consolidated Order Is Being Passed As Under: It(Tp)A No.2886/Ahd/2010/A.Y. 2006-07/ By The Assessee: 2. Ground Nos.1 Is General In Nature & Do Not Require Adjudication.

section 40A (2) (b) is also not convincing because until the recent past, both companies had common promoters. Even in the year under assessment, few of the shareholders are common. Neither could the assessee company justified why it paid Rs.27.50 crores for what was essentially just land & building as per the books of Mitsu Ltd. Therefore, depreciation claimed of Rs.5

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

M/S. BAYER VAPI PVT. LTD., (FORMERLY KNOWN AS BILAG INDUSTRIES PVT.LTD.,),VAPI vs. THE ADDL.CIT., VAPI RANGE,, VAPI

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

Bench: Shri Amarjit Singh & Shri O.P. Meena, Accoutant Member आ.अ.सं/.I.T.A No.2912/Ahd/2015 िनधा"रण वष"/Assessment Year:2010-11 बनाम M/S. Bayer Vapi Private Limited) Addl. Cit Range- (Formerly M/S. Bilag Industries Vs. Vapi, Range Vapi Pvt. Ltd.), 306/3,Phase-Ii, Shivam Commercial Complex Gidc-1, Vapi Gujarat. National Highway No 8 Vapi Pan: Aabcb 2100 L अपीलाथ" Appellant ""यथ"/Respondent

section 40A (2) (b) is also not convincing because until the recent past, both companies had common promoters. Even in the year under assessment, few of the shareholders are common. Neither could the assessee company justified why it paid Rs.27.50 crores for what was essentially just land & building as per the books of Mitsu Ltd. Therefore, depreciation claimed of Rs.1

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 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. 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

INCOME TAX OFFICER, WARD 2(3)(7), SURAT vs. SHRI ANIL PUKHRAJ JAIN, SURAT

In the result the ground No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.89/Srt/2017 िनधा"रण वष"/Assessment Year: (2008-09) (Physical Court Hearing) Income Tax Officer, Ward-2(3)(7), Anil Pukhraj Jain, Room No.414, 4Th Floor, Aayakar Prop. Of Aakruti Stone, 206-2Nd Floor, Tulsi Building, Bhavan, Adajan, Surat-395009 Vs. Somnath Mahadev Ni Sheri, Mahidharpura, Surat – 395009. (Appellant) (Respondent)/ "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahapj8569Q ""या"ेप सं Cross Objection No.10/Srt/2021 (A/O Ita No.89/Srt/2017) िनधा"रण वष"/Assessment Year: (2008-09) Anil Pukhraj Jain, Income Tax Officer, Ward-2(3)(7), Room No.414, 4Th Floor, Aayakar Prop. Of Aakruti Stone, 206- 2Nd Floor, Tulsi Building, Vs. Bhavan, Adajan, Surat-395009 Somnath Mahadev Ni Sheri, Mahidharpura, Surat – 395009. Appellant/Co-Objector (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahapj8569Q िनधा"रती क" ओर से /Assessee By Shri Sapnesh R. Sheth, Ca राज"व क" ओर से /Respondent By Shri Ashok B. Koli, Cit-Dr सुनवाई क" तारीख/Date Of Hearing 23/12/2022 उ"ोषणा क" तारीख/Date Of Pronouncement 23/ 01/2023

46,51,313/-. Further section 147 does not say that reasons should be ITA 89/SRT/2017 & CO. 10/SRT/2021/AY.2008-09 Anil Pukhraj Jain recorded only at one time in case of an assessee. More than one reason may be recorded if the department got information in piecemeal bases. Hence there is no infirmity in the reasons recorded by the Assessing Officer

SHRI BHARATKUMAR T. PATEL,,SURAT vs. THE ITO, WARD-3(3)(1),, SURAT

In the result, Ground No.1 of appeal is allowed

46,952/- which is the concealment in this case. 8. In the result, the appeal is dismissed.” Assessment Years.2011-12 Bharatkumar Tulsibhai Patel 5. Aggrieved by the order of the ld. CIT(A), the assessee is in appeal before us. 6. We have heard both the parties and carefully gone through the submissions put forth on behalf of the assessee along

HUBERGROUP INDIA PVT. LTD. (FORMERLY KNOWN AS MICRO INKS PVT. LTD.),VAPI vs. THE ACIT, VAPI CIRCLE,, VAPI

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

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Huber Group India Pvt. Assistant Commissioner Of Ltd. (Formerly Known As Income Tax, Vapi, Circle, Vs Micro Inks Pvt.Ltd.) Shivam Commercial Bilakhia House, Complex, National High Muktanand Marg, Way No.8 Vapi Chala, Vapi-396191 Pan : Aaach 7063 F Appellant / Assessee Respondent / Revenue

46. Ground No.8 relates to foreign currency fluctuation loss arising out of revaluation of repayment of foreign currency term loan. The Ld. AR for the assessee submits that assessee borrowed term loans in foreign currency and the outstanding balance of such foreign currency loans was re-stated and revalued as per the Accounting Standards (AS-11). The expenditure / income under

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