341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust

38 SOT 208Income Tax Appellate Tribunal2010#3480 most cited

What is 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust authority for?

Depreciation on a building used for business purposes should be allowed following the rule of consistency if it was allowed in earlier assessment orders and the Assessing Officer raised no doubts about its use.

34

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2026.

Also referred to as

ACIT v. S.K. Patel Family Trust · section 32(1) · depreciation · building · business purpose · rule of consistency · assessment orders · block of assets

Sections most often in play

Section 147Section 22Section 23Section 32(1)Section 37(1)Section 41(1)Section 43(5)Section 69A

Issues it is cited on

section 41(1)(a)section 80ib(4)remission or cessation of liabilitysection 2(42c)section 41(2)section 43(6)(c)section 43(6)opening wdvsection 65b(4)section 50bspeculation losssection 73

Judgments citing 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust

ACIT, CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4321/MUM/2025[2016-17]Status: DisposedITAT Mumbai20 Feb 2026AY 2016-17

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

ACIT, CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4320/MUM/2025[2020-21]Status: DisposedITAT Mumbai20 Feb 2026AY 2020-21

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

ACIT, CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4319/MUM/2025[2019-20]Status: DisposedITAT Mumbai20 Feb 2026AY 2019-20

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

ACIT, CC-6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 4318/MUM/2025[2022-23]Status: DisposedITAT Mumbai20 Feb 2026AY 2022-23

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

Overseas Infrastructure Alliance(India) Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle -6, Mumbai

In the result, appeal by the assessee is allowed

ITA 4045/MUM/2025[2020-21]Status: DisposedITAT Mumbai20 Feb 2026AY 2020-21

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

Overseas Infrastructure Alliance (India) Private Limtied, Mumbai vs. Assistant Commissioner of Income Tax Central Circle 6(2), Mumbai

In the result, appeal by the assessee is allowed

ITA 4044/MUM/2025[2021-22]Status: DisposedITAT Mumbai20 Feb 2026AY 2021-22

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

Overseas Infrastructure Alliance (India) Private Limtied, Mumbai vs. Assistant Commissioner of Income Tax Central Circle 6(2), Mumbai

In the result, appeal by the assessee is allowed

ITA 4043/MUM/2025[2019-20]Status: DisposedITAT Mumbai20 Feb 2026AY 2019-20

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

ACIT CC 6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 3998/MUM/2025[2017-18]Status: DisposedITAT Mumbai20 Feb 2026AY 2017-18

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

ACIT, CC-6(2), Mumbai vs. Overseas Infrastructure Alliance (India) Private Limited, Mumbai

In the result, appeal by the assessee is allowed

ITA 3995/MUM/2025[2011-12]Status: DisposedITAT Mumbai20 Feb 2026AY 2011-12

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

For Appellant: Shri Harsh Kothari and Shri Ronak Vasavada, CAsFor Respondent: Shri R. A. Dhyani, CIT DR and Shri Virabhadra S. Mahajan, Sr. DR
Section 1

…on the following decisions: (1) CIT v. Bharat Aluminium Co. Ltd. [2010] 187 Taxman 111 (Del) (2) CIT v. Oswal Agro Mills Ltd. [2012] 341 ITR 467 (Del) (3) ACIT v. S.K. Patel Family Trust [2013] 33 taxmann.com 678 (Guj) (4) Swati Synthetics Ltd. v. ITO [2010] 38 SOT 208 (Mum) 4.11. Ld. CIT(A) observed that ld. Assessing Officer has never raised any doubts regarding use of building for business purpose and allowed depreciation in the earlier assessment orders considering that the building was put to use for business purposes. Therefore, following rule of consistency, depreciation on the building should be allowed…

DCIT RG 8(2), Mumbai vs. Proctor & Gamble Hygiene & Health Care Ltd, Mumbai

In the result the appeals of the revenue are dismissed and the appeals of the assessee are partly allowed

ITA 2446/MUM/2013[2008-09]Status: DisposedITAT Mumbai12 Dec 2023AY 2008-09

Bench: Shri Aby T Varkey & Shri Amarjit Singhita No.3518 & 2277/Mum/2012 Procter & Gamble Hygiene Vs. Additional Cit Circle 8(2) & Healthcare Limited Mumbai -400020 P & G Plaza Cardinal Gracias Road, Chakkala, Andheri (East) Mumbai – 400009 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacp6332M Appellant .. Respondent

For Appellant: Yogesh Thar, Ms. SukanyaFor Respondent: Tushar Mohite
Section 143(2)Section 143(3)

…ues to be the owner. The fact that such assets were not used during the relevant previous year cannot lead to disallowance of depreciation which continue to form part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing Of…

Procter & Gamble Hygine & Health Care Ltd, Mumbai vs. Addl CIT Cir 8(2), Mumbai

In the result the appeals of the revenue are dismissed and the appeals of the assessee are partly allowed

ITA 1735/MUM/2013[2008-09]Status: DisposedITAT Mumbai12 Dec 2023AY 2008-09

Bench: Shri Aby T Varkey & Shri Amarjit Singhita No.3518 & 2277/Mum/2012 Procter & Gamble Hygiene Vs. Additional Cit Circle 8(2) & Healthcare Limited Mumbai -400020 P & G Plaza Cardinal Gracias Road, Chakkala, Andheri (East) Mumbai – 400009 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacp6332M Appellant .. Respondent

For Appellant: Yogesh Thar, Ms. SukanyaFor Respondent: Tushar Mohite
Section 143(2)Section 143(3)

…ues to be the owner. The fact that such assets were not used during the relevant previous year cannot lead to disallowance of depreciation which continue to form part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing Of…

Addl CIT RG 8(2), Mumbai vs. Proctor & Gamble Hyginene & Health Care Ltd, Mumbai

In the result the appeals of the revenue are dismissed and the appeals of the assessee are partly allowed

ITA 3566/MUM/2012[2007-08]Status: DisposedITAT Mumbai12 Dec 2023AY 2007-08

Bench: Shri Aby T Varkey & Shri Amarjit Singhita No.3518 & 2277/Mum/2012 Procter & Gamble Hygiene Vs. Additional Cit Circle 8(2) & Healthcare Limited Mumbai -400020 P & G Plaza Cardinal Gracias Road, Chakkala, Andheri (East) Mumbai – 400009 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacp6332M Appellant .. Respondent

For Appellant: Yogesh Thar, Ms. SukanyaFor Respondent: Tushar Mohite
Section 143(2)Section 143(3)

…ues to be the owner. The fact that such assets were not used during the relevant previous year cannot lead to disallowance of depreciation which continue to form part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing Of…

Procter & Gamble Hygiene & Health Care Ltd, Mumbai vs. Addl CIT Cir 8(2), Mumbai

In the result the appeals of the revenue are dismissed and the appeals of the assessee are partly allowed

ITA 3518/MUM/2012[2007-08]Status: DisposedITAT Mumbai12 Dec 2023AY 2007-08

Bench: Shri Aby T Varkey & Shri Amarjit Singhita No.3518 & 2277/Mum/2012 Procter & Gamble Hygiene Vs. Additional Cit Circle 8(2) & Healthcare Limited Mumbai -400020 P & G Plaza Cardinal Gracias Road, Chakkala, Andheri (East) Mumbai – 400009 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacp6332M Appellant .. Respondent

For Appellant: Yogesh Thar, Ms. SukanyaFor Respondent: Tushar Mohite
Section 143(2)Section 143(3)

…ues to be the owner. The fact that such assets were not used during the relevant previous year cannot lead to disallowance of depreciation which continue to form part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing Of…

Procter & Gamble Hygiene & Health Care Ltd., Mumbai vs. Addl.C.I.T. Cir. 8(2), Mumbai

In the result the appeals of the revenue are dismissed and the appeals of the assessee are partly allowed

ITA 2277/MUM/2012[2006-07]Status: DisposedITAT Mumbai12 Dec 2023AY 2006-07

Bench: Shri Aby T Varkey & Shri Amarjit Singhita No.3518 & 2277/Mum/2012 Procter & Gamble Hygiene Vs. Additional Cit Circle 8(2) & Healthcare Limited Mumbai -400020 P & G Plaza Cardinal Gracias Road, Chakkala, Andheri (East) Mumbai – 400009 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacp6332M Appellant .. Respondent

For Appellant: Yogesh Thar, Ms. SukanyaFor Respondent: Tushar Mohite
Section 143(2)Section 143(3)

…ues to be the owner. The fact that such assets were not used during the relevant previous year cannot lead to disallowance of depreciation which continue to form part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing Of…

Addl CIT RG 8(2), Mumbai vs. Proctor & Gamble Hygiene & Health Care Ltd, Mumbai

In the result the appeals of the revenue are dismissed and the appeals of the assessee are partly allowed

ITA 2167/MUM/2012[2006-07]Status: DisposedITAT Mumbai12 Dec 2023AY 2006-07

Bench: Shri Aby T Varkey & Shri Amarjit Singhita No.3518 & 2277/Mum/2012 Procter & Gamble Hygiene Vs. Additional Cit Circle 8(2) & Healthcare Limited Mumbai -400020 P & G Plaza Cardinal Gracias Road, Chakkala, Andheri (East) Mumbai – 400009 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacp6332M Appellant .. Respondent

For Appellant: Yogesh Thar, Ms. SukanyaFor Respondent: Tushar Mohite
Section 143(2)Section 143(3)

…ues to be the owner. The fact that such assets were not used during the relevant previous year cannot lead to disallowance of depreciation which continue to form part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing Of…

Procter & Gamgle Hygiene& Healthcare, Ltd, Mumbai vs. ACIT Cir 7(1), Mumbai

Appeals are partly allowed

ITA 6591/MUM/2010[2004-05]Status: DisposedITAT Mumbai25 Aug 2023AY 2004-05
For Appellant: Shri Yogesh TharFor Respondent: Shri Gaurav Batham
Section 143(1)Section 143(3)

…us year cannot lead to disallowance of depreciation which continue to form ITA. No. 6591 & 6549/Mum/2010 (AY 2004-05) ITA. No. 2780 & 2849/Mum/2011 (AY 2005-06) part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing O…

Addl CIT RG 7(1), Mumbai vs. Proctor & Gamble Hygiene & Healthcare Ltd, Mumbai

Appeals are partly allowed

ITA 6549/MUM/2010[2004-05]Status: DisposedITAT Mumbai25 Aug 2023AY 2004-05
For Appellant: Shri Yogesh TharFor Respondent: Shri Gaurav Batham
Section 143(1)Section 143(3)

…us year cannot lead to disallowance of depreciation which continue to form ITA. No. 6591 & 6549/Mum/2010 (AY 2004-05) ITA. No. 2780 & 2849/Mum/2011 (AY 2005-06) part of the block of depreciable assets. In the case of Swati Synthetics Vs. ITO 4(3)(4), Mumbai: 38 SOT 208, it was held by the Tribunal as under: “7.13 From above discussions we noticed that the concept of allowing depreciation on block of assets has been introduced in the statutes with certain objects. The calculation of depreciation in respect of each capital asset separately requires elaborate book keeping and process of checking by the Assessing O…

M/S. S P Chips Potato Pvt. Ltd, Ahmedabad vs. DCIT, Circle-4(1)(4), Ahmedabad

In the result, the appeal of the assessee is dismissed

ITA 548/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad29 Jun 2022AY 2014-15
For Appellant: Shri Sanjay R. Shah, A.RFor Respondent: Shri Anshu Prakash, CIT-D.R
Section 115JSection 143Section 263

…of trucks used for hire was done during the I.T.A No. 548/Ahd/2019 A.Y. 2014-15 Page No. 6 M/s. S.P. Chips Potato Pvt. Ltd. vs. DCIT course of assessment proceedings. The counsel for the assessee drew our attention to the case of Swati Synthetics Ltd. v. ITO 38 SOT 208 (Mum), that once the asset enters the block of assets and depreciation on the same has been allowed in earlier years, then even if the assets were not put to use during the year under consideration, depreciation was allowable in the same. Similarly in the instant facts, once the trucks have entered the block of assets and depreciation has been all…

Addl. CIT, Special Range- 9, New Delhi vs. The Fertilizer Corporation of India Ltd., Noida

In the result, the appeal of the Revenue is dismissed

ITA 5610/DEL/2017[2013-14]Status: DisposedITAT Delhi10 Mar 2022AY 2013-14

Bench: Sh. Saktijit Deydr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5610/Del/2017 : Asstt. Year : 2013-14 Addl. Cit, Vs M/S The Fertilizer Corporation Of Special Range-9, India Ltd., Pdil Bhawan, A-14, New Delhi Sector-1, Noida-201301 (U.P.) (Appellant) (Respondent) Pan No. Aaacf1661P Assessee By : Sh. K. Sampath, Adv. Revenue By : Sh. H. K. Chaudhary, Cit Dr Date Of Hearing: 03.03.2022 Date Of Pronouncement: 10.03.2022

For Appellant: Sh. K. Sampath, AdvFor Respondent: Sh. H. K. Chaudhary, CIT DR

…n block of assets and not individual assets. The assessee has relied on the decision of the Hon’ble jurisdictional High Court in the case of CIT vs. Oswal Agro Mills Ltd. 341 ITR 467 (Del) as well as that of ITAT Mumbai in Swati Synthetics Ltd. vs. ITO (2010) 38 SOT 208. 5. The assessee has also submitted that in earlier year’s appeals the company has been allowed depreciation. 6. We cannot subscribe to the view that, “though depreciation has been allowed in the earlier years on the plant & machinery which has been put to use and the depreciation cannot be allowed on the grounds that there was lull in the produc…

ACIT Circle-16(1), Mumbai vs. M/S Farah Khan, Mumbai

The appeal stands dismissed

ITA 4428/MUM/2019[2013-14]Status: DisposedITAT Mumbai29 Jul 2021AY 2013-14

Bench: Justice Shri P. P. Bhatt & Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. No.4428/Mum/2019 (धििाारण वर्ा / Assessment Year: 2013-14) Acit-Circle-16(1), Ms. Farah Khan R. No. 439, 4Th Floor बिाम/ A-3501/3601 Oberoi Sky Heights Aayakar Bhavan, M. K. Road Lokhandwala Complex Vs. Mumbai-400 020 Andheri West, Mumbai-400 053 स्थायीलेखासं./ जीआइआरसं./ Pan/Gir No. Aadpk-0664-P (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Revenue By : Dr. Shanteshwar Swami, Ld. Dr Assessee By : Shri Chetan Karia, Ld. Ar सुनवाई की तारीख/ : 29/06/2021 Date Of Hearing घोषणा की तारीख / : 29/07/2021 Date Of Pronouncement

For Appellant: Shri Chetan Karia, Ld. ARFor Respondent: Dr. Shanteshwar Swami, Ld. DR
Section 143(3)Section 32Section 36(1)(iii)Section 37(1)

…n, in turn, placed reliance on the decision in Unitex Products Ltd. V/s ITO (2008; 22 SOT 430 (Mum.), CIT v. Bharat Aluminum Co. Ltd. (2010; 187 Taxman 111 (Delhi), CIT v. Oswal Agro Mills Ltd. (2011) 197 Taxman 25 (Delhi), Swati Synthetics Ltd. v. ITO (2010) 38 SOT 208 (Mum). This decision 8 Ms. Farah Khan Assessment Year: 2013-14 has also considered the ratio of decision of Hon’ble Bombay High Court in the case of CIT v. Western Outdoor Interactive Pvt. Ltd. (2012) 349 ITR 309 (Bom) wherein it was held that when the benefit / deduction is available for a particular number of years on satisfaction of certain co…