ADDL.CIT, SPECIAL RANGE-4, NEW DELHI vs. IDEMITSU LUBE INDIA P.LTD, NEW DELHI

ITA 7950/DEL/2018Status: DisposedITAT Delhi05 April 2024AY 2014-15Bench: 01.04.2013, and therefore, the threshold limit of investment of Rs.100 crore during the year under consideration was not satisfied in this case.22 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, agreeing that the assessee's blending activity qualified as manufacturing for the purpose of investment allowance and additional depreciation. The Revenue failed to provide contrary evidence regarding the investment threshold and asset installation.

What were the facts?

The assessee, engaged in blending lubricant oil, claimed investment allowance and additional depreciation. The Assessing Officer disallowed these claims, arguing the assessee was not manufacturing and did not meet investment thresholds. The CIT(A) deleted these additions, holding the assessee was a manufacturer and met the conditions.

What were the issues?

Whether the assessee's blending activity constitutes 'manufacture' for claiming investment allowance and additional depreciation, and whether the investment threshold for Section 32AC was met.

Which sections of the Income-tax Act were involved?

Section 32AC,Section 32(1)(iia)

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Income Tax Appellate Tribunal, DELHI “C” BENCH: NEW DELHI

Before: SHRI N.K.BILLAIYA & SHRI KUL BHARAT

For Appellant: Shri Pradeep Dinodia, CA, Shri R K Kapoor, Adv. &, Shri Harish Dhamija, CA
For Respondent: Shri Kanv Bali, Sr. DR
Hearing: 22.03.2024Pronounced: 05.04.2024

PER KUL BHARAT, JM : This appeal filed by the Revenue and cross objection filed by the assessee pertaining to the assessment year 2014-15 are directed against the order of the of Ld. CIT(A)-35, New Delhi dated 24.09.2018. Both appeals of Revenue and cross-objection of assessee are being disposed off by this consolidated order for the sake of brevity and convenience.

ITA No.7950/Del/2018 [Assessment Year : 20

The order continues below.

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