1. CIT v. Shaan Finance (P) Ltd.

254 ITR 98Supreme Court of India2002#9619 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2021.

Judgments citing 1. CIT v. Shaan Finance (P) Ltd.

M/S. AMAZON TEXTILES PVT. LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(2),, AHMEDABAD

In the result the appeal filed by the revenue is dismissed

ITA 2308/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad25 Jun 2021AY 2014-15

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 2308/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2014-2015 Amazon Textiles Pvt. Ltd.,, D.C.I.T., 105, Sakar-1, Vs. Circle-1(1)(2), Nr. Nehru Bridge, Ahmedabad. Ashram Road, Ahmedabad-380009. Pan: Aabcb6914E & आयकर अपील सं./Ita No. 2466/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2014-2015 D.C.I.T., Amazon Textiles Pvt. Ltd.,, Circle-1(1)(1), Vs. 105, Sakar-1, Ahmedabad. Nr. Nehru Bridge, Ashram Road, Ahmedabad-380009. Pan: Aabcb6914E

For Appellant: Shri Vartik Choksi, A.RFor Respondent: Shri L.P. Jain, Sr.D.R
Section 115JSection 14ASection 36(1)(iii)

…erein it is held that lessor is entitled to extra shift and additional depreciation allowance on the assets leased out. And Hon’ble High Court drawn support from the order of the Supreme Court in the matter of CIT vs. Maharashtra Apex Corporation Ltd. (2002), 254 ITR 98. ITA nos.2308 & 2466/AHD/2017 Asstt. Year 2014-15 16 6. Therefore, respectfully following the above said judgment, we allow the claim of the assessee for additional depreciation and dismissed the ground of the appeal of the Revenue. 35.1 The facts of the case on hand are identical to the facts of the case as discussed above, therefore respectful…

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. DCIT, CC-II, CHANDIGARH

In the result the captioned appeals of the assessee are

ITA 140/CHANDI/2019[2015-16]Status: DisposedITAT Chandigarh28 Apr 2020AY 2015-16

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Chandrajit Singh, CIT (DR) on 4.12.2019
Section 250(6)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ, “ए ” च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘A’, CHANDIGARH "ी एन. के. सैनी, उपा"य" एवं "ी संजय गग", "या"यक सद"य BEFORE SHRI N.K. SAINI, VICE PRESIDENT & SHRI SANJAY GARG, JUDICIAL MEMBER आयकर अपील सं./ ITA No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14 आयकर अपील सं./ ITA No.139/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 आयकर अपील सं./ ITA No.842/Chd/2018 "नधा"रण वष" / Assessment Year : 2014-15 आयकर अपील सं./ ITA No.140/Chd/2019 "नधा"रण वष" / Assessment Year : 2015-16 M/s Fastway Transmission (P) बनाम The A.C.I.T., Ltd., Plot No.17, Ind…

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. DCIT, CC-II, CHANDIGARH

In the result the captioned appeals of the assessee are

ITA 139/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh28 Apr 2020AY 2012-13

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Chandrajit Singh, CIT (DR) on 4.12.2019
Section 250(6)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ, “ए ” च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘A’, CHANDIGARH "ी एन. के. सैनी, उपा"य" एवं "ी संजय गग", "या"यक सद"य BEFORE SHRI N.K. SAINI, VICE PRESIDENT & SHRI SANJAY GARG, JUDICIAL MEMBER आयकर अपील सं./ ITA No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14 आयकर अपील सं./ ITA No.139/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 आयकर अपील सं./ ITA No.842/Chd/2018 "नधा"रण वष" / Assessment Year : 2014-15 आयकर अपील सं./ ITA No.140/Chd/2019 "नधा"रण वष" / Assessment Year : 2015-16 M/s Fastway Transmission (P) बनाम The A.C.I.T., Ltd., Plot No.17, Ind…

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. ACIT, CHANDIGARH

In the result the captioned appeals of the assessee are

ITA 547/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh28 Apr 2020AY 2013-14

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Chandrajit Singh, CIT (DR) on 4.12.2019
Section 250(6)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ, “ए ” च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘A’, CHANDIGARH "ी एन. के. सैनी, उपा"य" एवं "ी संजय गग", "या"यक सद"य BEFORE SHRI N.K. SAINI, VICE PRESIDENT & SHRI SANJAY GARG, JUDICIAL MEMBER आयकर अपील सं./ ITA No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14 आयकर अपील सं./ ITA No.139/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 आयकर अपील सं./ ITA No.842/Chd/2018 "नधा"रण वष" / Assessment Year : 2014-15 आयकर अपील सं./ ITA No.140/Chd/2019 "नधा"रण वष" / Assessment Year : 2015-16 M/s Fastway Transmission (P) बनाम The A.C.I.T., Ltd., Plot No.17, Ind…

THE DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. AMAZON TEXTILES PVT. LTD.,, AHMEDABAD

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

ITA 3134/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad11 Mar 2019AY 2011-12

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

For Appellant: Shri Lalit P. Jain, Sr. D.RFor Respondent: Shri Vartik R. Choksi &
Section 115Section 14ASection 32(1)(iia)Section 36Section 36(1)(iii)

…herein it is held that lessor is entitled to extra shift and additional depreciation allowance on the assets leased out. And Hon’ble High Court drawn support from the order of the Supreme Court in the matter of CIT vs. Maharashtra Apex Corporation Ltd. (2002) 254 ITR 98. 6. Therefore, respectfully following the above said judgment, we allow the claim of the assessee for additional depreciation and dismissed the ground of the appeal of the Revenue. 7. Now we come to ground no. 2 relating to deleting the addition of Rs. 29,09,768/- on account of disallowance u/s 14A r.w. Rule 8D of Income Tax Act. 8. The assessee…

GOLDEN SOYA LTD,MUMBAI vs. ITO WD NO, 2(1)(4), MUMBAI

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 574/MUM/2017[2011-12]Status: DisposedITAT Mumbai13 Sept 2017AY 2011-12

Bench: Shri B.R. Baskaran (Am) I.T.A. No. 574/Mum/2017 (Assessment Year 2011-12) I.T.A. No. 573/Mum/2017 (Assessment Year 2010-11) I.T.A. No. 572/Mum/2017 (Assessment Year 2009-10) I.T.A. No. 571/Mum/2017 (Assessment Year 2008-09)

Section 57

…THE INCOME TAX APPELLATE TRIBUNAL “SMC” Bench, Mumbai Before Shri B.R. Baskaran (AM) I.T.A. No. 574/Mum/2017 (Assessment Year 2011-12) I.T.A. No. 573/Mum/2017 (Assessment Year 2010-11) I.T.A. No. 572/Mum/2017 (Assessment Year 2009-10) I.T.A. No. 571/Mum/2017 (Assessment Year 2008-09) Golden Soya Limited ITO Ward2(1)(4) Emca House, 2nd Floor Vs. Aayakar Bhavan Room No. 208, 289 M.K. Road S.B.S. Road, Fort Mumbai-400020. Mumbai-400 001. PAN : AAACG3593R (Appellant) (Respondent) Assessee by Shri S.V. Pikale Department by Shri Ram Tiwari Date of Hearing 13.9.2017 Date of Pronouncement 21.9.2017 O R D E R Al…

GE MONEY FINANCIAL SERVICES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, revenue’s appeal is dismissed

ITA 13/DEL/2012[2005-06]Status: DisposedITAT Delhi29 Aug 2016AY 2005-06

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

For Appellant: Shri Balbir Singh Sr. Adv. &For Respondent: Shri A.K. Saroha CIT(DR)
Section 143(1)Section 234Section 32Section 45

…sallowed since the vehicles were registered in the name of the respective lessees and also the lease transaction was in effect a finance transaction. The assessee relied on the decision of Hon’ble Supreme Court in the case of Maharashtra Apex Cooperation Ltd. 254 ITR 98, wherein the lessor was held to be eligible for investment allowance and extra shift depreciation. Further reliance was placed by the assessee on the decision of Shaan Finance 231 ITR 308 (SC) and Development Credit Bank Vs. Prakash Industries Ltd. of the Hon’ble Bombay High Court. Further, the assessee also relied on CBDT Circular no. 2/01 dated…

ACIT, NEW DELHI vs. M/S. GE MONEY FINANCIAL SERVICES LTD., NEW DELHI

In the result, revenue’s appeal is dismissed

ITA 5854/DEL/2011[2005-06]Status: DisposedITAT Delhi29 Aug 2016AY 2005-06

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

For Appellant: Shri Balbir Singh Sr. Adv. &For Respondent: Shri A.K. Saroha CIT(DR)
Section 143(1)Section 234Section 32Section 45

…sallowed since the vehicles were registered in the name of the respective lessees and also the lease transaction was in effect a finance transaction. The assessee relied on the decision of Hon’ble Supreme Court in the case of Maharashtra Apex Cooperation Ltd. 254 ITR 98, wherein the lessor was held to be eligible for investment allowance and extra shift depreciation. Further reliance was placed by the assessee on the decision of Shaan Finance 231 ITR 308 (SC) and Development Credit Bank Vs. Prakash Industries Ltd. of the Hon’ble Bombay High Court. Further, the assessee also relied on CBDT Circular no. 2/01 dated…

GE MONEY FINANCIAL SERVICES (P) LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, revenue’s appeal is dismissed

ITA 4235/DEL/2011[2003-04]Status: DisposedITAT Delhi29 Aug 2016AY 2003-04

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

For Appellant: Shri Balbir Singh Sr. Adv. &For Respondent: Shri A.K. Saroha CIT(DR)
Section 143(1)Section 234Section 32Section 45

…sallowed since the vehicles were registered in the name of the respective lessees and also the lease transaction was in effect a finance transaction. The assessee relied on the decision of Hon’ble Supreme Court in the case of Maharashtra Apex Cooperation Ltd. 254 ITR 98, wherein the lessor was held to be eligible for investment allowance and extra shift depreciation. Further reliance was placed by the assessee on the decision of Shaan Finance 231 ITR 308 (SC) and Development Credit Bank Vs. Prakash Industries Ltd. of the Hon’ble Bombay High Court. Further, the assessee also relied on CBDT Circular no. 2/01 dated…

GE MONEY FINANCIAL SERVICES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, revenue’s appeal is dismissed

ITA 4206/DEL/2011[2004-05]Status: DisposedITAT Delhi29 Aug 2016AY 2004-05

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

For Appellant: Shri Balbir Singh Sr. Adv. &For Respondent: Shri A.K. Saroha CIT(DR)
Section 143(1)Section 234Section 32Section 45

…sallowed since the vehicles were registered in the name of the respective lessees and also the lease transaction was in effect a finance transaction. The assessee relied on the decision of Hon’ble Supreme Court in the case of Maharashtra Apex Cooperation Ltd. 254 ITR 98, wherein the lessor was held to be eligible for investment allowance and extra shift depreciation. Further reliance was placed by the assessee on the decision of Shaan Finance 231 ITR 308 (SC) and Development Credit Bank Vs. Prakash Industries Ltd. of the Hon’ble Bombay High Court. Further, the assessee also relied on CBDT Circular no. 2/01 dated…

GE COUNTRYWIDE CONSUMER FINANCIAL SERVICES LTD. vs. DCIT, CIRCLE-12(1),,

In the result, revenue’s appeal is dismissed

ITA 1357/DEL/2005[2001-2002]Status: DisposedITAT Delhi29 Aug 2016AY 2001-2002

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

For Appellant: Shri Balbir Singh Sr. Adv. &For Respondent: Shri A.K. Saroha CIT(DR)
Section 143(1)Section 234Section 32Section 45

…sallowed since the vehicles were registered in the name of the respective lessees and also the lease transaction was in effect a finance transaction. The assessee relied on the decision of Hon’ble Supreme Court in the case of Maharashtra Apex Cooperation Ltd. 254 ITR 98, wherein the lessor was held to be eligible for investment allowance and extra shift depreciation. Further reliance was placed by the assessee on the decision of Shaan Finance 231 ITR 308 (SC) and Development Credit Bank Vs. Prakash Industries Ltd. of the Hon’ble Bombay High Court. Further, the assessee also relied on CBDT Circular no. 2/01 dated…

1. CIT v. Shaan Finance (P) Ltd. (254 ITR 98) — Cited in 11 Judgments | BharatTax