Asiatic Oxygen Ltd. v. CIT

190 ITR 328High Court1991#3557 most cited

What is Asiatic Oxygen Ltd. v. CIT authority for?

Expenditure incurred on projects or assets that are written off in accounts is an incidental business loss if the asset never came into existence or the expenditure was incurred wholly and exclusively for business purposes.

33

judgments rely on this decision, according to BharatTax’s citation analysis of 366,418 Indian tax judgments — from 2015 to 2025.

Also referred to as

Asiatic Oxygen Ltd. v. CIT · business loss · capital expenditure · revenue expenditure · write off · section 37 · Hindustan Aluminium Corporation Ltd. · Graphite India Ltd.

Sections most often in play

Section 32(1)(iia)Section 32ACSection 37Section 40A(9)Section 10B(8)Section 194Section 194ASection 32AD

Issues it is cited on

section 139(3)section 35ddasection 10(2)(xv)section 32asection 170section 40a(9)section 276section 145a(b)section 32(1)(iia)section 73section 36(1)(ii)resulting company

Judgments citing Asiatic Oxygen Ltd. v. CIT

Asst. Commissioner of Income Tax Circle-1, Khammam vs. M/S Singareni Colleries Company Ltd., Khammam Dist

In the result, both the appeals of the revenue for AYs 2009-10 & 2010-11 are dismissed

ITA 802/HYD/2014[2009-10]Status: DisposedITAT Hyderabad20 May 2021AY 2009-10

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahusl.

For Appellant: Shri M.V. Anil KumarFor Respondent: Smt. Anjala Sahu &
Section 143(3)Section 35ESection 43B

…ture was allowable as incurred wholly and exclusively for the purpose of the assessee's business. Therefore, the Tribunal deleted the disallowance. The case relied upon by the Tribunal was subsequently followed in the case of Asiatic Oxygen Ltd. v. CIT (1991) 190 ITR 328 (Cal). This Court in the said case reiterated the view taken in Hindustan Aluminium Corporation Ltd.'s case (supra ). According to us, question No. 4 in this reference stands concluded by the aforementioned two decisions. We, accordingly, answer question No. 4 in the affirmative and in favour of the assessee and against the Revenue." 4. Mr. Bajor…

Asst. Commissioner of Income Tax Circle-1, Khammam vs. M/S Singareni Colleries Company Ltd., Khammam Dist

In the result, both the appeals of the revenue for AYs 2009-10 & 2010-11 are dismissed

ITA 801/HYD/2014[2006-07]Status: DisposedITAT Hyderabad20 May 2021AY 2006-07

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahusl.

For Appellant: Shri M.V. Anil KumarFor Respondent: Smt. Anjala Sahu &
Section 143(3)Section 35ESection 43B

…ture was allowable as incurred wholly and exclusively for the purpose of the assessee's business. Therefore, the Tribunal deleted the disallowance. The case relied upon by the Tribunal was subsequently followed in the case of Asiatic Oxygen Ltd. v. CIT (1991) 190 ITR 328 (Cal). This Court in the said case reiterated the view taken in Hindustan Aluminium Corporation Ltd.'s case (supra ). According to us, question No. 4 in this reference stands concluded by the aforementioned two decisions. We, accordingly, answer question No. 4 in the affirmative and in favour of the assessee and against the Revenue." 4. Mr. Bajor…

The Singareni Colleries Company Ltd., Kothjagudem, Hyderabad vs. Addl.Citt, Khammam Range, Khammam

In the result, both the appeals of the revenue for AYs 2009-10 & 2010-11 are dismissed

ITA 561/HYD/2016[2011-12]Status: DisposedITAT Hyderabad20 May 2021AY 2011-12

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahusl.

For Appellant: Shri M.V. Anil KumarFor Respondent: Smt. Anjala Sahu &
Section 143(3)Section 35ESection 43B

…ture was allowable as incurred wholly and exclusively for the purpose of the assessee's business. Therefore, the Tribunal deleted the disallowance. The case relied upon by the Tribunal was subsequently followed in the case of Asiatic Oxygen Ltd. v. CIT (1991) 190 ITR 328 (Cal). This Court in the said case reiterated the view taken in Hindustan Aluminium Corporation Ltd.'s case (supra ). According to us, question No. 4 in this reference stands concluded by the aforementioned two decisions. We, accordingly, answer question No. 4 in the affirmative and in favour of the assessee and against the Revenue." 4. Mr. Bajor…

DCIT, Circle-1, Khammam vs. The Singareni Colleries Company Lt.D, Kothagudem

In the result, both the appeals of the revenue for AYs 2009-10 & 2010-11 are dismissed

ITA 519/HYD/2016[2004-05]Status: DisposedITAT Hyderabad20 May 2021AY 2004-05

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahusl.

For Appellant: Shri M.V. Anil KumarFor Respondent: Smt. Anjala Sahu &
Section 143(3)Section 35ESection 43B

…ture was allowable as incurred wholly and exclusively for the purpose of the assessee's business. Therefore, the Tribunal deleted the disallowance. The case relied upon by the Tribunal was subsequently followed in the case of Asiatic Oxygen Ltd. v. CIT (1991) 190 ITR 328 (Cal). This Court in the said case reiterated the view taken in Hindustan Aluminium Corporation Ltd.'s case (supra ). According to us, question No. 4 in this reference stands concluded by the aforementioned two decisions. We, accordingly, answer question No. 4 in the affirmative and in favour of the assessee and against the Revenue." 4. Mr. Bajor…

Singareni Colleries Company Limited, Hyderabad vs. ACIT, Circle-1, Khammam

In the result, both the appeals of the revenue for AYs 2009-10 & 2010-11 are dismissed

ITA 884/HYD/2014[2008-09]Status: DisposedITAT Hyderabad20 May 2021AY 2008-09

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahusl.

For Appellant: Shri M.V. Anil KumarFor Respondent: Smt. Anjala Sahu &
Section 143(3)Section 35ESection 43B

…ture was allowable as incurred wholly and exclusively for the purpose of the assessee's business. Therefore, the Tribunal deleted the disallowance. The case relied upon by the Tribunal was subsequently followed in the case of Asiatic Oxygen Ltd. v. CIT (1991) 190 ITR 328 (Cal). This Court in the said case reiterated the view taken in Hindustan Aluminium Corporation Ltd.'s case (supra ). According to us, question No. 4 in this reference stands concluded by the aforementioned two decisions. We, accordingly, answer question No. 4 in the affirmative and in favour of the assessee and against the Revenue." 4. Mr. Bajor…

Landbase India Ltd., Gurgaon vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4999/DEL/2015[2011-12]Status: DisposedITAT Delhi26 Aug 2019AY 2011-12

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…333 ITR 18 (Del.). Expenses relating to setting up of new unit for expansion of its business operations, which was later abandoned was held to be revenue expenditure  CIT v. Vardhman Spinning &General Mills: 176 Taxman 157 (P&H)  Asiatic oxygen Ltd. v. CIT :190 ITR 328 (Cal.)  Hindustan Aluminium Corporation ltd. v. CIT: 159 ITR 673 (Cal.)  CIT v. Graphite India Ltd. : 221 ITR 420 (Cal)  CIT v. Coromandal fertilizers: 247 ITR 417 (AP)  Enpro India Ltd. v. DCIT:113 Taxman 132 (Del. Trib.)  CIT v. Honda Siel Power Products Ltd. : ITA No. 758/2008  Sutlej Industries Ltd. v. ACIT : 94 TTJ 108 (Del) It is thu…

Landbase India Ltd., Gurgaon vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4998/DEL/2015[2010-11]Status: DisposedITAT Delhi26 Aug 2019AY 2010-11

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…333 ITR 18 (Del.). Expenses relating to setting up of new unit for expansion of its business operations, which was later abandoned was held to be revenue expenditure  CIT v. Vardhman Spinning &General Mills: 176 Taxman 157 (P&H)  Asiatic oxygen Ltd. v. CIT :190 ITR 328 (Cal.)  Hindustan Aluminium Corporation ltd. v. CIT: 159 ITR 673 (Cal.)  CIT v. Graphite India Ltd. : 221 ITR 420 (Cal)  CIT v. Coromandal fertilizers: 247 ITR 417 (AP)  Enpro India Ltd. v. DCIT:113 Taxman 132 (Del. Trib.)  CIT v. Honda Siel Power Products Ltd. : ITA No. 758/2008  Sutlej Industries Ltd. v. ACIT : 94 TTJ 108 (Del) It is thu…

Landbase India Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4560/DEL/2011[2005-06]Status: DisposedITAT Delhi26 Aug 2019AY 2005-06

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…333 ITR 18 (Del.). Expenses relating to setting up of new unit for expansion of its business operations, which was later abandoned was held to be revenue expenditure  CIT v. Vardhman Spinning &General Mills: 176 Taxman 157 (P&H)  Asiatic oxygen Ltd. v. CIT :190 ITR 328 (Cal.)  Hindustan Aluminium Corporation ltd. v. CIT: 159 ITR 673 (Cal.)  CIT v. Graphite India Ltd. : 221 ITR 420 (Cal)  CIT v. Coromandal fertilizers: 247 ITR 417 (AP)  Enpro India Ltd. v. DCIT:113 Taxman 132 (Del. Trib.)  CIT v. Honda Siel Power Products Ltd. : ITA No. 758/2008  Sutlej Industries Ltd. v. ACIT : 94 TTJ 108 (Del) It is thu…

M/S Landbase India Ltd., Gurgaon vs. ACIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 138/DEL/2016[2012-13]Status: DisposedITAT Delhi26 Aug 2019AY 2012-13

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…333 ITR 18 (Del.). Expenses relating to setting up of new unit for expansion of its business operations, which was later abandoned was held to be revenue expenditure  CIT v. Vardhman Spinning &General Mills: 176 Taxman 157 (P&H)  Asiatic oxygen Ltd. v. CIT :190 ITR 328 (Cal.)  Hindustan Aluminium Corporation ltd. v. CIT: 159 ITR 673 (Cal.)  CIT v. Graphite India Ltd. : 221 ITR 420 (Cal)  CIT v. Coromandal fertilizers: 247 ITR 417 (AP)  Enpro India Ltd. v. DCIT:113 Taxman 132 (Del. Trib.)  CIT v. Honda Siel Power Products Ltd. : ITA No. 758/2008  Sutlej Industries Ltd. v. ACIT : 94 TTJ 108 (Del) It is thu…

Landbase India Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 653/DEL/2011[2007-08]Status: DisposedITAT Delhi26 Aug 2019AY 2007-08

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…333 ITR 18 (Del.). Expenses relating to setting up of new unit for expansion of its business operations, which was later abandoned was held to be revenue expenditure  CIT v. Vardhman Spinning &General Mills: 176 Taxman 157 (P&H)  Asiatic oxygen Ltd. v. CIT :190 ITR 328 (Cal.)  Hindustan Aluminium Corporation ltd. v. CIT: 159 ITR 673 (Cal.)  CIT v. Graphite India Ltd. : 221 ITR 420 (Cal)  CIT v. Coromandal fertilizers: 247 ITR 417 (AP)  Enpro India Ltd. v. DCIT:113 Taxman 132 (Del. Trib.)  CIT v. Honda Siel Power Products Ltd. : ITA No. 758/2008  Sutlej Industries Ltd. v. ACIT : 94 TTJ 108 (Del) It is thu…

ACIT, New Delhi vs. M/S. Landbase India Ltd., New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4849/DEL/2011[2005-06]Status: DisposedITAT Delhi26 Aug 2019AY 2005-06

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…333 ITR 18 (Del.). Expenses relating to setting up of new unit for expansion of its business operations, which was later abandoned was held to be revenue expenditure  CIT v. Vardhman Spinning &General Mills: 176 Taxman 157 (P&H)  Asiatic oxygen Ltd. v. CIT :190 ITR 328 (Cal.)  Hindustan Aluminium Corporation ltd. v. CIT: 159 ITR 673 (Cal.)  CIT v. Graphite India Ltd. : 221 ITR 420 (Cal)  CIT v. Coromandal fertilizers: 247 ITR 417 (AP)  Enpro India Ltd. v. DCIT:113 Taxman 132 (Del. Trib.)  CIT v. Honda Siel Power Products Ltd. : ITA No. 758/2008  Sutlej Industries Ltd. v. ACIT : 94 TTJ 108 (Del) It is thu…

Sh. Sanjay Dalmia, New Delhi vs. DCIT, New Delhi

In the result all the appeal filed by the assessee are dismissed

ITA 3795/DEL/2014[2006-07]Status: DisposedITAT Delhi05 Oct 2017AY 2006-07

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri Vinod Kumar Bindal, AdvFor Respondent: Shri SS Rana, CIT DR
Section 132Section 142(1)Section 153ASection 271Section 271(1)(b)

…ITA No. 3795 to 3801/Del/2014 (Assessment Year: 2006-07 to 2012-13 Sanjay Dalmia, Vs DCIT INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―G‖: NEW DELHI BEFORE SHRI H.S.SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No. 3795 to 3801/Del/2014 (Assessment Year: 2006-07 to 2012-13) Sanjay Dalmia, Vs. DCIT, 2nd Floor, Indraprakash Building, Central Circle-2, 21, Barakhamba Road, New Delhi New Delhi PAN:AADPD9438N (Appellant) (Respondent) Assessee by : Shri Vinod Kumar Bindal, Adv Revenue by: Shri SS Rana, CIT DR Date of Hearing 28/09/2017 Date of pronouncement 05/10/2017 O R D E R PER PRASHA…

ACIT Cir 4(2), Mumbai vs. Gupta Synthetics Ltd, Mumbai

In the result, the appeal filed by the revenue is treated as partly allowed for statistical purposes

ITA 1009/MUM/2011[2007-08]Status: DisposedITAT Mumbai09 Dec 2015AY 2007-08

Bench: S/Shri B.R.Baskaran & Shri Sandeep Gosainआयकर अपीऱ सं./I.T.A. No.1009/Mum/2011 (निर्धारण वर्ा / Assessment Year :2007-08) Asstt. Commissioner Of बिधम/ M/S Gupta Synthetics Ltd., Income Tax, 4(2), 326, Sardar Gruh Building, Vs. Room No.642, 6Th Floor,, 198, L T Road, Ayakar Bhavan, M K Road, Mumbai-400002 Mumbai-400020 स्थायी ऱेखा सं./ Pan : (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. स्थामी रेखा सं./जीआइआय सं./Pan. :Aaacg8559P

For Appellant: Ms.Anu Krishna AggarwalFor Respondent: Shri Satish R Mody

…f Rs.13,04,410/-. The assessee claimed the same as revenue expenditure by placing reliance on the following decisions: i) CIT V/s Graphite India Ltd-221 ITR 420; ii) Hindustan Alluminim Corporation Ltd V/s CIT -55 CTR 237; and iii) Asiatic Oxygen Ltd V/s CIT -190 ITR 328 iv) CIT V/s Coromandel Fertilizer (105 Taxman 409) (AP) 7. The AO did not accept the contentions of the assessee and held that the expenditure incurred for obtaining feasibility report for new project is a capital expenditure. Accordingly, he disallowed the claim of the assessee. The ld.CIT(A), however, allowed the claim of the assessee by follow…