Apollo Tyres Ltd. v. CIT

255 ITR 273Supreme Court of India2002#88 most cited

What is Apollo Tyres Ltd. v. CIT authority for?

For the purpose of computing book profits under Section 115J, arrears of depreciation, including those arising from assets working extra shifts, are a necessary charge on profits if debited to the profit and loss account and are allowable as such.

657

judgments rely on this decision, according to BharatTax’s citation analysis of 367,518 Indian tax judgments — from 2008 to 2026.

Also referred to as

Apollo Tyres Ltd v CIT · Section 115J · Section 115JB · book profits · minimum alternate tax · MAT · depreciation arrears · extra shift depreciation · debit to profit and loss account · allowable charge on profits

Also reported as

122 Taxmann 562174 CTR 521

Sections most often in play

Section 115JBSection 14ASection 143(3)Section 37(1)Section 147Section 8DSection 92CA(3)Section 195
Read the full judgment

Issues it is cited on

section 115jb(2)section 115jabook profitssection 115jsection 115jbsection 35disallowance u/s 14adisallowance under section 14asection 115section 80iasection 32section 14a

Judgments citing Apollo Tyres Ltd. v. CIT

Commissioner of Income Tax vs. M/S. Ansal Housing Finance and Leasing Co. Ltd

The Appeals are disposed of in the above terms without any order on costs

ITA-18/1999HC Delhi31 Oct 2012

…horities, and what was in fact considered as well as decided was the correct method of computation. 16. This court is of the opinion that the question is no longer res integra, and is covered by the decision of the Supreme Court in Apollo Tyres Ltd v CIT 255 ITR 273. It was held, in that decision that if a business qualifies for the benefit granted under Section 32AB, if an assessee carries on business covered by that provision, and “has utilized any amount during the previous year for the purchase of new plant or machinery then it is entitled to a set off of a sum equal to 20 per cent of the profit of…

Commissioner of Income Tax vs. R.T.C.L. Ltd

ITA/612/2009HC Delhi28 Mar 2012
Section 115Section 115JSection 143(3)Section 154Section 260

…reciation actually debited in the profit and loss account was certified by the auditors, it was not permissible for the Assessing Officer to make any book adjustments in view of the decision of the Supreme Court in the case of Apollo Tyres Limited vs. Cit 255 ITR 273. Besides above, we find that there are decisions of the Tribunal holding the similar view, namely, Calcutta Bench of the Tribunal in the case of JCT Limited vs. DCIT 253 ITR 61, Cochin Bench of the Tribunal in the case of Apollo Tyres Limited vs DCIT 43 ITD 464, Bombay Bench of the Tribunal in the case of Modern Woollens, Ltd. Vs. DCIT 47…

Commissioner of Income Tax vs. Agricultural Market Committee

ITTA/115/2011HC Telangana20 Apr 2011

Bench: Us To Examine Correctness Of The Judgment Dated 30.03.2009 Passed By The Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur In Income Tax Appeal No.371/Ju/2008 Against The Assessment Year 2000-2001. By The Order Aforesaid, Learned Tribunal While Dismissing The Appeal Preferred By The Revenue Affirmed The Order Passed By Learned Commissioner Of Income Tax(Appeals). Learned Income Tax Appellate Tribunal After Discussing The Entire Issue On Merits Arrived At The Conclusion That Income From Generation Of Power, May That Be In The Nature Of Captive Generation, Make The Assessee Entitled For Deduction Under Section 80-Ia Of The Income Tax Act, 1961 In Respect Of Notional

Section 115JSection 2(13)Section 80Section 80I

…HIGH COURT OF JUDICATURE FOR RAJASTHAN AT JODHPUR D.B. Income Tax Appeal No. 115 / 2011 Commissioner of Income Tax, Ajmer. ----Appellant Versus M/s. RSWM Ltd. (Formerly known as Rajasthan Spinning & Weaving Mills Ltd.), Gulabpura, Bhilwara. ----Respondent _____________________________________________________ For Appellant(s) : Mr. K.K. Bissa with Mr. Gajendra Singh Chouhan For Respondent(s) : Mr. Sanjay Jhanwar _____________________________________________________ HON'BLE MR. JUSTICE GOVIND MATHUR HON'BLE MR. JUSTICE VINIT KUMAR MATHUR Judgment 12/05/2017 This appeal is before us to examine…

Commissioner of Income Tax vs. Eli Lilly & Co. India Pvt Ltd

ITA/97/2009HC Delhi25 Mar 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 115Section 143Section 143(1)Section 154

…ich is to be given to the aforesaid provision and, therefore, it was not a mistake which was to be corrected for which jurisdiction under Section 154 of the Act could be exercised, as held by the Apex Court in Apollo Tyres Vs. Commissioner of Income Tax, 255 ITR 273 and T.S. Balaram Income Tax Officer, Company Circle IV, Bombay Vs. M/s Volkart Brothers, 82 ITR 50. 7. We, thus do not find any merits in these appeals. No question of law arises. These appeals are accordingly dismissed. (A.K.SIKRI) JUDGE (M.L.MEHTA) JUDGE MARCH 25,2011 skb…

Commissioner of Income Tax vs. Eli Lilly & Co. India P.Ltd

ITA/657/2010HC Delhi25 Mar 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 115Section 143Section 143(1)Section 154

…is to be given to the aforesaid provision and, therefore, it was not a mistake which was to be corrected for which jurisdiction under Section 154 of the Act could be exercised, as held by the Apex Court in Apoffo Tyres Vs. Pine, Commissioner of Income Tax, 255 ITR 273 and T.S. Balaram t E°S\ income Tax Officer, Company Circle 1V, Bombay Vs. M/s c Volkart Brothers, 82 ITR 50. 7. We, thus do not find any merits in these appeals. No question of law arises, These appeals are accordingly dismissed. 344 She (A.K.SIKRI) JUDGE (M.L.MEHTA) UDGE MARCH 25,2011 } skb ITA 97/ 2009 & ITA 657/2010 Page 7 of 7…

Commissioner of Income Tax vs. Nalwa Sons Investments Ltd

ITA/1420/2009HC Delhi26 Aug 2010

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MS. JUSTICE REVA KHETRAPAL

Section 115Section 115JSection 143(3)Section 260ASection 271Section 80H

…ITA No. 1420/2009 Page 1 of 18 Reportable * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No. 1420/2009 Judgment reserved on: August 3, 2010. Judgment delivered on: August 26, 2010 Commissioner of Income Tax ..... Appellant Through: Ms. Prem Lata Bansal, Advocate. Versus M/s. Nalwa Sons Investments Ltd. ..... Respondent Through: Mr. Ajay Vohra and Ms. Kavita Jha, Advocates. CORAM: HON’BLE MR. JUSTICE A.K. SIKRI HON'BLE MS. JUSTICE REVA KHETRAPA…

Commissioner of Income Tax vs. Nalwa Sons Investments Ltd

ITA - 1420 / 2009HC Delhi26 Aug 2010
Section 115Section 143(3)Section 260ASection 271Section 80Section 80H

…Reportable * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No. 1420/2009 Judgment reserved on: August 3, 2010. Judgment delivered on: August 26, 2010 Commissioner of Income Tax ..... Appellant Through: Ms. Prem Lata Bansal, Advocate. Versus M/s. Nalwa Sons Investments Ltd. ..... Respondent Through: Mr. Ajay Vohra and Ms. Kavita Jha, Advocates. CORAM: HON’BLE MR. JUSTICE A.K. SIKRI HON'BLE MS. JUSTICE REVA KHETRAPAL 1. Whether reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporter or…

Commissioner of Income Tax vs. Shyam Tex International Ltd

Accordingly, present appeal, being devoid of merit, is dismissed

ITA/321/2010HC Delhi06 Aug 2010

Bench: HON'BLE THE ACTING CHIEF JUSTICE,HON'BLE MR. JUSTICE MANMOHAN

Section 260ASection 271(1)(c)

…ITA 321/2010 Page 1 of 7 #16 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 321/2010 COMMISSIONER OF INCOME TAX ..... Appellant Through Ms. Sonia Mathur, Advocate versus M/S. SHYAM TEX INTERNATIONAL LTD. ..... Respondent Through Mr. O.P. Sapra, Advocate % Date of Decision : 6th August, 2010 CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE MANMOHAN 1. Wheth…

Commissioner of Income Tax vs. Denso Haryana Pvt. Ltd

The appeal is dismissed

ITA/364/2010HC Delhi03 May 2010

Bench: The Tribunal In The Aforesaid Appeal Being Aggrieved By An Order Passed Under Section 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Said Act’) By The Commissioner Of Income Tax (Appeals). The Provisions Of Section 263 Had Been Invoked By 2010:Dhc:2465-Db

For Appellant: Mr N. P. SahniFor Respondent: Mr C. S. Aggarwal, Sr Advocate with Mr Prakash Kumar
Section 115JSection 263Section 294Section 37(1)

…ct. 5. In any event, we find that insofar as the computation of income under Section 115JB is concerned, the powers of the Assessing Officer are very limited. This is clear from the decision of the Supreme Court in the case of Apollo Tyres Ltd v. CIT: 255 ITR 273 (SC) which, though it related to 2010:DHC:2465-DB 115JB. In the said decision, the Supreme Court observed that the Assessing Officer, while computing income under Section 115J, has only the power to examine whether the books of account were certified by the authorities under the Companies Act, as having been properly maintained in accordan…

Commissioner of Income Tax vs. Denso Haryana Pvt Ltd

The appeal is dismissed

ITA - 364 / 2010HC Delhi03 May 2010

Bench: The Tribunal In The Aforesaid Appeal Being Aggrieved By An Order Passed Under Section 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Said Act’) By The Commissioner Of Income Tax (Appeals). The Provisions Of Section 263 Had Been Invoked By 2010:Dhc:2465-Db

For Appellant: Mr N. P. SahniFor Respondent: Mr C. S. Aggarwal, Sr Advocate with Mr Prakash Kumar
Section 115JSection 263Section 294Section 37(1)

…ct. 5. In any event, we find that insofar as the computation of income under Section 115JB is concerned, the powers of the Assessing Officer are very limited. This is clear from the decision of the Supreme Court in the case of Apollo Tyres Ltd v. CIT: 255 ITR 273 (SC) which, though it related to 2010:DHC:2465-DB 115JB. In the said decision, the Supreme Court observed that the Assessing Officer, while computing income under Section 115J, has only the power to examine whether the books of account were certified by the authorities under the Companies Act, as having been properly maintained in accordan…

Commissioner of Income Tax Delhi IV vs. Dlf Power Ltd

ITA/176/2009HC Delhi09 Oct 2009

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SIDDHARTH MRIDUL

Section 115JSection 143(3)Section 154Section 263Section 80Section 80A(2)

…ck this provision made for bad debts for calculating book profit under Section 115JB of the Act after due application of mind and after taking note of the decision of the Supreme Court in the case of Apollo Tyres Ltd. v. Commissioner of Income Tax, Kochi, 255 ITR 273 and, therefore, when such an opinion of the AO was plausible, merely because the CIT was of different opinion could not be a ground to pass an order under Section 263 of the Act. This contention of the assessee was brushed aside by the CIT in the following manner :- “It has been argued that no doubt there are divergent opinions of the High…

Commr.of Income Tax-IV, Delhi vs. M/S Hcl Comnet Systems & Services Ld

Accordingly the same is dismissed with no order as

C.A. No.-005800-005800 - 2008Supreme Court23 Sept 2008
Section 115JSection 210

…rcise is the book profit of the assessee for the relevant previous years. This Court has examined the powers of the AO while computing the book profits for the purposes of Section 115J in the case of Apollo Tyres Ltd. v. Commissioner of Income- tax – [2002] 255 ITR 273 (SC) which reads as under: “The Assessing Officer, while computing the book profits of a company under Section 115-J of the Income-tax 5 Act, 1961, has only the power of examining whether the books of account are certified by the authorities under the Companies Act as having been properly maintained in accordance with the Companies Act.…

Sree Ayyanar Spinning & Weaving M.Ltd vs. Commnr. of Income Tax

Accordingly, the Civil Appeal filed by the assessee stands allowed with no order

C.A. No.-003246-003246 - 2008Supreme Court01 May 2008
For Respondent: COMMISSIONER OF INCOME TAX
Section 115JSection 143(3)Section 254(2)

…http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 1 of 6 CASE NO.: Appeal (civil) 3246 of 2008 PETITIONER: SREE AYYANAR SPINNING & WEAVING M.LTD. RESPONDENT: COMMISSIONER OF INCOME TAX DATE OF JUDGMENT: 01/05/2008 BENCH: S.H. KAPADIA & B. SUDERSHAN REDDY JUDGMENT: JUDGMENT 1 IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.3246 OF 2008 (Arising out of SLP(C) No. 10576 of 2007) SREE AYYANAR SPINNING & WEAVING M.LTD. ...APP…

Malayala Manorama Co Ltd vs. Commr.of Income Tax, Trivandrum

The appeals are allowed and the

C.A. No.-005420-005423 - 2002Supreme Court10 Apr 2008
For Respondent: Commissioner of Income Tax,Trivandrum
Section 115JSection 33Section 80Section 80V

…od and written down value method are recognised. Therefore, once the amount of depreciation actually debited to the profit and loss account is certified by the auditors, then, as per the decision of the apex court in the case of Apollo Tyres Ltd. [2002] 255 ITR 273, question No. 2 has to be answered in the negative and in favour of the assessee.\024 Mr. Vellapally further placed reliance on Commissioner of Income Tax v. Loyal Textiles Mills Ltd. (2003) 261 ITR 307 (Madras), Commissioner of Income Tax v. Thiroo Arooran Sugars Ltd. (2006) 152 Taxman 344 (Madras), Cochin Cadalas (P) Ltd. v. C…

Commissioner of Income Tax vs. Hewlett Packard (India) Ltd

The appeal is dismissed

ITA - 943 / 2007HC Delhi31 Mar 2008

…oses of Section 115-JB of the Act is the profit shown in the profit and loss account prepared in accordance with Part II and III of Schedule VI of the Companies Act, 1956. As held by the Supreme Court in Apollo Tyres Ltd. v. Commissioner of Income Tax, [2002] 255 ITR 273, the profit and loss account so prepared cannot be changed unless it is not drawn up in accordance with the provisions of the Companies Act, 1956. This should be a complete answer to the contention raised by legrned counsel for the Revenue. - 21. Nevertheless, in so far as the provision for doubtful debts is concerned, it was contended that this…

Commissioner of Income Tax vs. Hewlett Packard (India) Ltd

The appeal is dismissed

ITA - 934 / 2007HC Delhi31 Mar 2008

…oses of Section 115-JB of the Act is the profit shown in the profit and loss account prepared in accordance with Part II and III of Schedule VI of the Companies Act, 1956. As held by the Supreme Court in Apollo Tyres Ltd. v. Commissioner of Income Tax, [2002] 255 ITR 273, the profit and loss account so prepared cannot be changed unless it is not drawn up in accordance with the provisions of the Companies Act, 1956. This should be a complete answer to the contention raised by learned counsel for the Revenue. - 21. Nevertheless, in so far as the provision for doubtful debts is concerned, it was contended that this…

Commissioner of Income Tax vs. E.I.Dupont India Ltd

ITA - 599 / 2007HC Delhi11 Jan 2008
Section 115JSection 260A

…ee filed an appeal before the Commissioner of Income Tax Act (Appeals) (in short CIT(A)) who deleted the addition holding that in view of the judgment of the Apex Court in the case of Apollo Tyres Ltd. vs. Commissioner of Income-Tax (2002) 255 ITR 273, the Assessing Officer is not empowered to make any adjustment, if the accounts are prepared in accordance with Part-II and III of the Schedule-VI of the Companies Act unless the same are provided in the Explanation. The CIT(A) further held that the provisions for these amounts were ascertained liabilities. Provisi…