TATA COMMUNICATIONS LIMITED,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX, MUMBAI

In the result, the question of law referred to the Special Bench is answered in favour of the assessee

Bench: Shri Saktijit Dey & Shri Arun Khodpiatata Communications Limited Pr. Cit, Videsh Sanchar Bhavan, Mumbai-1 Vs. M. G. Road, Fort, Mumbai-400 001 Pan/Gir No. Aaacv 2808 C (Appellant) : (Respondent) Appellant By : Shri J. D. Mistri Respondent By : Shri Ritesh Misra, Cit Dr Date Of Hearing : 25.09.2025 Date Of Pronouncement : 25.09.2025 O R D E R Per Saktijit Dey: The Present Appeal, At The Instance Of The Assessee, Assails Order Dated 21.03.2025, Passed U/S. 263 Of The Income Tax Act, 1961 (‘The Act’ For Short), By Learned Principal Commissioner Of Income Tax (‘Ld. Pcit’ For Short), Pertaining To The Assessment Year (A.Y.) 2018-19. 2. Though The Assessee Has Raised Multiple Grounds, Both On Jurisdictional Issues As Well As On Merits, However, There Is Consensus Between The Parties That The Appeal Can Be Decided On Merits, In Which Event, There Is No Need To Go Into Various Other Issues Raised In Appeal.

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

DCIT 4(3)(1), MUMBAI vs. RELIANCE TRANSPORT AND TRAVELS P.LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri S. Rifaur Rahman: A.Y : 2013-14 Asst. Commissioner Of Income Vs. M/S. Reliance Transport & Tax – 4(3)(1), Travels Pvt. Ltd., Mumbai (Appellant) 6Th Floor, Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai 400 020. Pan : Aaacr2380M (Respondent)

depreciable asset and, therefore, the exemption available to the 19 Reliance Transport & Travels Pvt. Ltd. depreciable asset under section 54E cannot

SAMIR NARAIN BHOJWANI ,MUMBAI vs. DCIT 4(2)(1), MUMBAI

Appeal of the assessee is allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

ACIT 421 MUMBAI, MUMBAI CITY vs. SAMIR NARAIN BHOJWANI, MUMBAI

Appeal of the assessee is allowed for statistical purposes and the\nappeal of the revenue is dismissed

depreciable asset and, therefore, the exemption\navailable to the depreciable asset under section 54E cannot be denied by referring\nto the fiction

TRAVOTEL (I) P. LTD,MUMBAI vs. ITO WD 2(3)-3, MUMBAI

In the result, appeal of the assessee stands allowed

Bench: Shri J P Boaz & Shri Amit Shukla

exemption under section 54E does not make distinction between depreciable asset and non-depreciable asset and, therefore, exemption would be available

DCITCC 3(2) CEN RG 3, MUMBAI vs. HRISHIKESH D. PAI, MUMBAI

In the result , the appeal of the Revenue in ITA no

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2766/Mum/2017 (नििाारण वर्ा / Assessment Year : 2012-13) बिाम/ Dcit, Cc 3(2) Cen Rg 3 Shri Hrishikesh D. Pai, R.No. 1913, 19Th Floor, C/O M/S. Pregnancy Air India Building, Advice & Services, V. Nariman Point, 304, Pearl Centre, Mumbai S.B. Marg, Dadar, Mumbai 400028 स्थायी ऱेखा सं./ Pan : Aabpp2139C (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri. Manoj Kumar Singh, Dr Assessee By : Shri. Vijay Mehta सुनवाई की तारीख /Date Of Hearing : 23.08.2018 घोषणा की तारीख /Date Of Pronouncement :26.09.2018 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue, Being Ita No. 2766/Mum/2017, Is Directed Against Appellate Order Dated 05.12.2016 Passed By Learned Commissioner Of Income Tax (Appeals)-5, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2012-13, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 30.03.2015 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2012-13. I.T.A. No.2766/Mum/2017

depreciable asset and, therefore, the exemption available to the depreciable asset under Section 54E cannot be denied by referring to the fiction

ZODIAC JRD MKJ LTD,MUMBAI vs. ASST CIR 5(3)(2), MUMBAI

Bench: Shri Prashant Maharishi & Shri Kuldip Singhassessment Year: 2014-15

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

ITO 29(1)(3), MUMBAI vs. DEVYANI R DOSHI, MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri Mahavir Singh () & Shri G Manjunatha ()

exemption u/s 54F is available to depreciable asset as section 54F does not make any distinction between depreciable asset and a non depreciable

UNIQUE PROPERTIES & SECURITIES PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER - CENTRAL CIRCLE 38, MUMBAI

In the result, the appeal is allowed for statistical purposes

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2011-12 Unique Properties & Securities Private Assistant Commissioner-Central Circle Limited, 4Th Floor, Malhotra House, Opp. Vs. 38, [Now Dcit Central Circle 6(3)], 19Th Gpo, Fort, Mumbai-400001. Floor, Air India Building, Nariman Point, Mumbai-400021. Pan No. Aaacu0702G Appellant Respondent

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

ITO 24(1)(5), MUMBAI vs. ENGINEERING EQUIPMENTS, MUMBAI

In the result, the appeal of the revenue stands dismissed

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.65/Mum/2015 (ननधधायण वषा / Assessment Year : 2012-13) Income Tax Officer 24(1)(5), बनाम/ M/S Engineering Equipment, -31, Shree Laxmi Industrial Room No.523, Vs. Estate, New Link Road, Piramal Chambers, Andheri (W), Parel, Lalbaug, Mumbai-400053 Mumbai-400012. (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. स्थधमी रेखध सं./जीआइआय सं./Pan/Gir No. :Aaafe2008C

depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction

DCIT 10(3)(2), MUMBAI vs. PHOENIX MECANO (I) PLTD, MUMBAI

In the result, appeal of the Revenue is allowed

Bench: Shri Joginder Singh, Assessment Year:2011-12

depreciation, the assessee may get exemption but nonetheless he cannot take only a portion of depreciation just to suit his income