Capital Bus Service Pvt. Ltd. v. CIT

M/S. Kla India Public Ltd., Delhi vs. JCIT, Rohtak

In the result, the appeal of the assessee is allowed

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

…aced on the following decisions : i) CIT v. Geo Tech Construction Corporation, 244 ITR 452 (Ker) ii) CIT vs. Oswal Woollen Mills Ltd., 206 CTR 141 (P&H) iii). CIT vs. Nahar Export Ltd., 296 ITR 419, 296 ITR 419 (P&H) iv). Capital Bus Service (P) Ltd. v. CIT, 123 ITR 404. v). CIT v. Oswal Agro Mills Ltd., 341 ITR 467 vi). CIT v. Insilco Ltd., 320 ITR 322 vii). CIT v. Radio Today Broadcasting Ltd., 382 ITR 42 (Del.) viii). CIT v. Soughern Petrochemical Industries Corpn. Ltd. 292 ITR 362 6. It was also submitted that even otherwise the ld. CIT(A) failed to appreciate that sortex machine and generator were also pla…

Enchante Jewellery Ltd., Gurgaon vs. ITO, New Delhi

In the result, the appeal of the assessee is allowed

Bench: Shri S.V. Mehrotraassessment Year : 2012-13 Enchante Jewellery Ltd., Ito, Ward- 8(2), Plot No.3 & 4, Phase – Iv, New Delhi. Vs. Udyog Vihar, Gurgaon. Pan : Aabce 1308 D (Appellant) (Respondent)

…ore contended that the claim of depreciation ought to be allowed. In support of the claim for allowance of depreciation, several authorities were relied upon by the assessee, including the judgment of this Court in Capital Bus Service Pvt. Ltd. Vs. CIT (1980) 123 ITR 404.” 5. He further referred to para 9 of the aforementioned decision of the Hon’ble Delhi High Court, which is reproduced hereunder :- “9. The Tribunal has referred to the judgments in Capital Bus Service (supra), CIT Vs. Refrigeration and Allied Industries Ltd. (supra) & CIT Vs. Panacea Biotech Ltd. (supra) and has applied the ratio laid down the…

Container Corporation of India Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal of the revenue is partly allowed

Bench: Shri I. C. Sudhir & Shri Prashant Maharishicontainer Corporation Of India Ltd, Dcit, C-3, Mathura Road, Opp. Apollo Circle-3(1), Vs. Hospital, New Delhi New Delhi Pan:Aaacc1205A (Appellant) (Respondent) Acit, Container Corporation Of India Ltd, Circle-3(1), C-3, Mathura Road, Opp. Apollo Vs. New Delhi Hospital, New Delhi Pan:Aaacc1205A (Appellant) (Respondent) Container Corporation Of India Ltd, Acit, C-3, Mathura Road, Opp. Apollo Circle-3(1), Vs. Hospital, New Delhi New Delhi Pan:Aaacc1205A (Appellant) (Respondent) Dcit, Container Corporation Of India Ltd, Circle-3(1), C-3, Mathura Road, Opp. Apollo Vs. New Delhi Hospital, New Delhi Pan:Aaacc1205A (Appellant) (Respondent)

…arded machinery). 7. On the aspect of passive user, there are two decisions of two Division Benches of this court in the cases reported as CIT v. Refrigeration and Allied Industries Ltd. [2001] 247 ITR 12 (Delhi) and Capital Bus Services P. Ltd. v. CIT [1980] 123 ITR 404 (Delhi). In this view of the matter, we need not refer to the judgments of any other court as we are bound by the earlier judgments of this court. In fact, we also agree with the ratio of both the decisions which hold that as long as the machinery is available for use, though not actually used, it falls within the expression " used for the purpos…

DCIT, New Delhi vs. M/S. Galileo India Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

…lier financial year. Reliance is further placed on the following decisions : (i). Stitchwell Qualitex (RF) vs. ITO 2015-TOIL-2184-HC-Del. (ii). National Thermal Power Corpn. Ltd. vs. CIT dt. 15.10.12(copy placed) (iii). Capital Bus Service P. Ltd. vs. CIT, 123 ITR 404 (iv). CIT vs. Refrigeration and Allied Ind. Ltd., 247 ITR 12. 15. Having considered the submissions of both the parties, we find no substance in this ground of appeal. It is a fact that the assessee had computed the depreciation on the reduced WDV only after reducing the assets sold. There is no material on record to assail the finding of the…

Escolife It Services (P) Ltd., New Delhi vs. ITO, New Delhi

Appeals of the assessee are hereby allowed

Bench: Shri N. K. Saini & Shri Kuldip Singh

…o tax on the aspect of discarded machinery. 7. On the aspect of passive user, there are two decisions of two Division Benches of this Court in the cases reported as CIT vs. Refrigeration and Allied Industries Ltd., 247 ITR 12 and Capital Bus Services vs. CIT, 123 ITR 404. In this view of the matter, we need not refer the judgments of any other Court as we are bound by the earlier judgments of this Court. In fact, we also agree with the ratio of both the decisions which hold that as long as the machinery is available for use, though not actually used, it falls within the expression "used for the purposes of the bu…

CIT-7

…is plea that depreciation would be allowed as long as the asset is kept ready and has been used for undertaking trial. Reliance was placed on the decisions in CIT v. Refrigeration & Allied Industries Ltd (supra), Capital Bus Service Pvt. Ltd. v. CIT (Del) 123 ITR 404 and Assistant Commissioner of Income Tax v. Ashima Syntex Ltd. 251 ITR 133 (Guj). Question No. 1: Additional Depreciation 21. The first question concerns the claim of the Assessee to additional depreciation under Section 32 (1) (iia) of the Act. The said provision reads as under: 32. Depreciation (1) In respect of depreciation of –…

Commissioner of Income Tax -I vs. Continental Carbon India Ltd

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE R.V.EASWAR

…disallowed the same on the ground that the emergency spares had not been used and hence no depreciation can be allowed. These emergency spares are entitled to depreciation in terms of the decision of this Court in Capital Bus Services (P) Ltd. v. CIT, (1980) 123 ITR 404. The tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user. Keeping in view the aforesaid position on the third ground also we do not see any reason to interfere with the order of the Tribunal. g. The appeals are accordingly dismissed. SANJIV KIIAIINA, J lr'l V\ -^.-,. R.V.EASWAR, J MAY 31,2012 hs…

CIT vs. Continental Carbon India Ltd

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE R.V.EASWAR

…disallowed the same on the ground that the emergency spares had not been used and hence no depreciation can be allowed. These emergency spares are entitled to depreciation in terms of the decision of this Court in Capital Bus Services (P) Ltd. v. CIT, (1980) 123 ITR 404. The tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user. Keeping in view the aforesaid position on the third ground also we do not see any reason to interfere with the order of the Tribunal. g. The appeals are accordingly dismissed. SANJIV KIIAIINA, J lr'l V\ -^.-,. R.V.EASWAR, J MAY 31,2012 hs…

CIT vs. Continental Carbon India Ltd

…disallowed the same on the ground that the emergency spares had not been used and hence no depreciation can be allowed. These emergency spares are entitled to depreciation in terms of the decision of this Court in Capital Bus Services (P) Ltd. v. CIT, (1980) 123 ITR 404. The tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user. Keeping in view the aforesaid position on the third ground also we do not see any reason to interfere with the order of the Tribunal. g. The appeals are accordingly dismissed. SANJIV KIIAIINA, J lr'l V\ -^.-,. R.V.EASWAR, J MAY 31,2012 hs…

Commissioner of Income Tax - I vs. Continental Carbon India Ltd

…disallowed the same on the ground that the emergency spares had not been used and hence no depreciation can be allowed. These emergency spares are entitled to depreciation in terms of the decision of this Court in Capital Bus Services (P) Ltd. v. CIT, (1980) 123 ITR 404. The tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user. Keeping in view the aforesaid position on the third ground also we do not see any reason to interfere with the order of the Tribunal. g. The appeals are accordingly dismissed. SANJIV KIIAIINA, J lr'l V\ -^.-,. R.V.EASWAR, J MAY 31,2012 hs…

CIT vs. Continental Carbon India Ltd

…disallowed the same on the ground that the emergency spares had not been used and hence no depreciation can be allowed. These emergency spares are entitled to depreciation in terms of the decision of this Court in Capital Bus Services (P) Ltd. v. CIT, (1980) 123 ITR 404. The tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user. Keeping in view the aforesaid position on the third ground also we do not see any reason to interfere with the order of the Tribunal. g. The appeals are accordingly dismissed. SANJIV KIIAIINA, J lr'l V\ -^.-,. R.V.EASWAR, J MAY 31,2012 hs…

Commissioner of Income Tax -I vs. Continental Carbon India Ltd

…disallowed the same on the ground that the emergency spares had not been used and hence no depreciation can be allowed. These emergency spares are entitled to depreciation in terms of the decision of this Court in Capital Bus Services (P) Ltd. v. CIT, (1980) 123 ITR 404. The tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user. Keeping in view the aforesaid position on the third ground also we do not see any reason to interfere with the order of the Tribunal. g. The appeals are accordingly dismissed. SANJIV KIIAIINA, J lr'l V\ -^.-,. R.V.EASWAR, J MAY 31,2012 hs…

CIT vs. Continental Carbon India Ltd

…the same on the ground that the emergency spares had not been used and hence no depreciation can be allowed. These emergency spares are entitled to depreciation in terms of the decision of this Court in Capital Bus Services (P) Ltd. v. CIT, (1980) 123 ITR 404. The tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user. Keeping in view the aforesaid position on the third ground also we do not see any reason to interfere with the order of the Tribunal. . . . 9. The appeals are accordingly dismissed. . . . . . .…