CIT v. Basti Sugar Mills Co. Ltd.

257 ITR 88High Court2002#3468 most cited

What is CIT v. Basti Sugar Mills Co. Ltd. authority for?

Depreciation on a vehicle cannot be denied solely because the transfer was not recorded under the Motor Vehicles Act or the vehicle stood in the vendor's name in official records, if the assessee can establish ownership.

34

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Basti Sugar Mills Co. Ltd. · section 32 · depreciation · vehicle ownership · Motor Vehicles Act · vendor name · beneficial owner

Also reported as

123 Taxmann 693

Sections most often in play

Section 142(1)Section 143(3)Section 32Section 37Section 143(1)Section 145(1)Section 145(3)Section 148

Issues it is cited on

beneficial ownersection 32salarysection 143(2)personcompanybusinessindiasection 143section 143(3)interestnfac

Judgments citing CIT v. Basti Sugar Mills Co. Ltd.

AHLUWALIA ERECTORS AND FEBRICATIONS PVT. LTD.,KOTA vs. ACIT CIR-1 KOTA , KOTA

In the result the appeal of the assessee is partly allowed

ITA 953/JPR/2024[2016-17]Status: DisposedITAT Jaipur19 Feb 2025AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Mahendra Gargieya, Adv. &For Respondent: Mrs. Anita Rinesh, JCIT-Sr. DR
Section 143(3)Section 234A

…that transfer was not recorded under Motor Vehicles Act or vehicle stood in name of vendor in records of the authorities under the Motor Vehicles Act. This judgment has been followed by Delhi High Court in the case of CIT v. Basti Sugar Mills Co. Ltd. [2002] 257 ITR 88. 2.3 Reliance is also placed on the case of Anil Bulk Carriers (P) Ltd. vs. CIT (2005) 276 ITR 625 (All) wherein it is held as under: Thus, the impugned disallowance deserves to be deleted in full. GOA-3: Rs. 41,855/-: Disallowance of the expenses claimed under the head of business promotion. Facts: The ld. AO at Pg. 2 of the order held as under:…

SADHANA NAYYAR,MUMBAI vs. INCOME TAX OFFICER WARD 17(3)(2), MUMBAI

In the result, the appeal is dismissed

ITA 1310/MUM/2024[2013-14]Status: DisposedITAT Mumbai16 Dec 2024AY 2013-14

Bench: SHRI NARENDRA KUMAR BILLAIYA (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 143Section 143(1)Section 143(2)Section 148Section 250

…ullaha Baig, [1993] 202 ITR 291 (Bom-HC). 4 Sadhana Nayyar d) Commissioner of Income Tax V. Dilip Singh Sardar Singh Bagga, [1993] 201 ITR 995 (Bom-HC-Nag) e) CIT V. Aravali Fin Lease Ltd., [2012] 341 ITR 282(Guj-HC). f) CIT V. Basti Sugar Mills Ltd., [2002] 257 ITR 88 (Del-HC). g) Income Tax Officer V. Electro Ferro Alloys Ltd. [2012] 13 ITR 594 (Ahd-Trib). h) ACIT, Circle 6 Ahmedabad V. Gopal Fabrics, order dated 29.11.2013 passed by ITAT Ahd in ITAT no. 3338/Ahd/2010 and 463/Ahd/2013. i) Edwis Consultants Pvt. Ltd. V. Deputy Commissioner of Income Tax order dated 14.10.2015 passed in ITAT No. 5376/Mum/2011 an…

MUKESH TRENDS LIFESTYLE LIMITED,AHMEDABAD vs. THE DY.CIT., CIRCLE-2(1)(2), AHMEDABAD

In the result, the appeal preferred by the assessee is allowed

ITA 828/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad23 Feb 2024AY 2017-18

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 828/Ahd/2023 ("नधा"रण वष" / Assessment Year : 2017-18)

For Respondent: Shri Vipul Chavda, Sr. DR
Section 143(3)

…ort from the decision of ITO vs. Electro Ferro Alloys Ltd.B (supra) and the decision of the Rajasthan High Court in CIT (Appeals) vs. Mohd. Bux Shokat Ali (no.2),[2002] 256 ITR 357(Raj.) and the decision in the case of CIT vs. Basti Sugar Mills Co.Ltd. [2002] 257 ITR 88(Delhi). 17. The Tribunal has rightly distinguished the concept of dominion ownership of the car. The question raised is answered accordingly.” 10. In fact, in the case in hand before us, it is also not a disputed fact that the purchase of a car was made by the appellant company which is also reflected in the books of account of the appellant comp…

TARIT F. DAS,BHARUCH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIR.1, BHARUCH

In the result this ground of appeal is also dismissed

ITA 105/SRT/2021[2014-15]Status: DisposedITAT Surat22 Mar 2023AY 2014-15

Bench: Shri Pawan Singh(Physical Hearing) Tarit F Das, A.C.I.T., Aaa-49, Shreeji Sadan Bungalows, Circle-1, Vs. Swaminarayan Mandir Road, Bharuch. Zadeshwar Road, Bharuch. Pan No. Acgpd 8543 H Appellant/ Assessee Respondent/ Revenue

Section 254(1)

…ee also relied on the following decisions; 8 Tarit F Das Vs ACIT (i) Mysore Minerals Limited Vs CIT (ii) CIT Vs Mohammad Bux Shokat Ali (iii) CIT Vs Aravali Finlease Limited (iv) ITO Vs Electro Ferro Alloys Limited (v) CIT Vs Basti Sugar Mills Co Ltd. (2002) 257 ITR 88 (Delhi). 13. On the other hand, the ld. Sr. DR for the revenue supported the orders of lower authorities. The ld. Sr. DR for the revenue submits that for claiming depreciation on asset particularly vehicle, the ownership is sine qua non. The assessee is not the owner of such vehicle. 14. I have considered the submissions of both the parties and ha…

PARMESHWAR FASHIONS IMPEX PVT. LTD,MUMBAI vs. ACIT- 5(2)(2), MUMBAI

In the result, the present appeal is allowed

ITA 2803/MUM/2022[2013-14]Status: DisposedITAT Mumbai31 Jan 2023AY 2013-14
For Appellant: NoneFor Respondent: Smt. Shreekala Pardesi
Section 143(3)

…facts, we hold that Appellant is entitled to depreciation on the motor car which was owned by it but not registered in its name. Our view draws strength from the judgment of the Hon‟ble Delhi High Court in the case of CIT Vs. Basti Sugar Mills Co. Ltd: [2002] 257 ITR 88 (Delhi) wherein reference has also been made to the judgment of the Hon‟ble Supreme Court in the case of CIT v. Dilip Singh Sardarsingh Bagga [1993] 201 ITR 995 cited by the Appellant. We note that both the Assessing Officer and the CIT(A) have relied upon the decision of the Mumbai Bench of the Tribunal in the case of Edwise Consultant Private Li…

M/S SUNSHINE COMMUNICATION PVT LTD ,MUMBAI vs. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-5(4), MUMBAI

In the result, the appeal of the assessee is allowed partly

ITA 1294/MUM/2022[2013-2014]Status: DisposedITAT Mumbai17 Oct 2022AY 2013-2014

Bench: Shri Amit Shukla () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Sunshine Communication Asst. Cit, Central Circle-5(4), Pvt. Ltd., Room No. 1927, 19Th Floor, Air 1St Floor, Capri, Anant Kanekar Vs. India Building, Nariman Point, Marg, Bandra (E), Mumbai-400021. Mumbai-400051. Pan No. Aadcs 4276 L Appellant Respondent Assessee By : Mr. Nimesh Thar, Ar Revenue By : Mr. Chetan M. Kacha, Dr Date Of Hearing : 08/09/2022 Date Of Pronouncement : 17/10/2022

For Appellant: Mr. Nimesh Thar, ARFor Respondent: Mr. Chetan M. Kacha, DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B” MUMBAI BEFORE SHRI AMIT SHUKLA (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2013-14 M/s Sunshine Communication Asst. CIT, Central Circle-5(4), Pvt. Ltd., Room No. 1927, 19th floor, Air 1st floor, Capri, Anant Kanekar Vs. India Building, Nariman Point, Marg, Bandra (E), Mumbai-400021. Mumbai-400051. PAN No. AADCS 4276 L Appellant Respondent Assessee by : Mr. Nimesh Thar, AR Revenue by : Mr. Chetan M. Kacha, DR Date of Hearing : 08/09/2022 Date of pronouncement : 17/10/2022 ORDER PER OM PRAKASH KANT, AM This appeal has been p…

SELVA GANESH CONSTRUCTIONS PVT LTD,CHENNAI vs. ITO CORPORATE WARD-6(2), CHENNAI

In the result, the appeals of the Assessee in I

ITA 1658/CHNY/2019[2016-17]Status: DisposedITAT Chennai07 Sept 2022AY 2016-17

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A Nos.:1654 To 1658/Chny/2019 Assessment Years : 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17

For Appellant: Mr. J. Prabhakar, F.C.AFor Respondent: Mr. ARV Sreenivasan, Addl. CIT
Section 133ASection 143(3)Section 147Section 148Section 40

…s income of the company. In the instant case there is no dispute with regard to the fact that the vehicles are used for the purpose of business of the Assessee Company. In the case of the Commissioner of Income Tax Vs. Basti Sugar Mills Company Limited [2002] 257 ITR 88 (Delhi), the Hon’ble Delhi High Court approved the decision of the Tribunal in holding that since the vehicle is a movable asset, the registration as required in the case of transfer of immovable property is not a condition precedent for legal ownership. In the instant case, the funds for purchase of vehicles have been provided by the Assessee Com…

SELVA GANESH CONSTRUCTIONS PVT LTD,CHENNAI vs. ITO CORPORATE WARD-6(2), CHENNAI

In the result, the appeals of the Assessee in I

ITA 1657/CHNY/2019[2015-16]Status: DisposedITAT Chennai07 Sept 2022AY 2015-16

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A Nos.:1654 To 1658/Chny/2019 Assessment Years : 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17

For Appellant: Mr. J. Prabhakar, F.C.AFor Respondent: Mr. ARV Sreenivasan, Addl. CIT
Section 133ASection 143(3)Section 147Section 148Section 40

…s income of the company. In the instant case there is no dispute with regard to the fact that the vehicles are used for the purpose of business of the Assessee Company. In the case of the Commissioner of Income Tax Vs. Basti Sugar Mills Company Limited [2002] 257 ITR 88 (Delhi), the Hon’ble Delhi High Court approved the decision of the Tribunal in holding that since the vehicle is a movable asset, the registration as required in the case of transfer of immovable property is not a condition precedent for legal ownership. In the instant case, the funds for purchase of vehicles have been provided by the Assessee Com…

SELVA GANESH CONSTRUCTIONS PVT LTD,CHENNAI vs. ITO CORPORATE WARD-6(2), CHENNAI

In the result, the appeals of the Assessee in I

ITA 1656/CHNY/2019[2014-15]Status: DisposedITAT Chennai07 Sept 2022AY 2014-15

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A Nos.:1654 To 1658/Chny/2019 Assessment Years : 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17

For Appellant: Mr. J. Prabhakar, F.C.AFor Respondent: Mr. ARV Sreenivasan, Addl. CIT
Section 133ASection 143(3)Section 147Section 148Section 40

…s income of the company. In the instant case there is no dispute with regard to the fact that the vehicles are used for the purpose of business of the Assessee Company. In the case of the Commissioner of Income Tax Vs. Basti Sugar Mills Company Limited [2002] 257 ITR 88 (Delhi), the Hon’ble Delhi High Court approved the decision of the Tribunal in holding that since the vehicle is a movable asset, the registration as required in the case of transfer of immovable property is not a condition precedent for legal ownership. In the instant case, the funds for purchase of vehicles have been provided by the Assessee Com…

SELVA GANESH CONSTRUCTIONS PVT LTD,CHENNAI vs. ITO CORPORATE WARD-6(2), CHENNAI

In the result, the appeals of the Assessee in I

ITA 1655/CHNY/2019[2013-14]Status: DisposedITAT Chennai07 Sept 2022AY 2013-14

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A Nos.:1654 To 1658/Chny/2019 Assessment Years : 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17

For Appellant: Mr. J. Prabhakar, F.C.AFor Respondent: Mr. ARV Sreenivasan, Addl. CIT
Section 133ASection 143(3)Section 147Section 148Section 40

…s income of the company. In the instant case there is no dispute with regard to the fact that the vehicles are used for the purpose of business of the Assessee Company. In the case of the Commissioner of Income Tax Vs. Basti Sugar Mills Company Limited [2002] 257 ITR 88 (Delhi), the Hon’ble Delhi High Court approved the decision of the Tribunal in holding that since the vehicle is a movable asset, the registration as required in the case of transfer of immovable property is not a condition precedent for legal ownership. In the instant case, the funds for purchase of vehicles have been provided by the Assessee Com…

SELVA GANESH CONSTRUCTIONS PVT LTD,CHENNAI vs. ITO CORPORATE WARD-6(2), CHENNAI

In the result, the appeals of the Assessee in I

ITA 1654/CHNY/2019[2012-13]Status: DisposedITAT Chennai07 Sept 2022AY 2012-13

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A Nos.:1654 To 1658/Chny/2019 Assessment Years : 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17

For Appellant: Mr. J. Prabhakar, F.C.AFor Respondent: Mr. ARV Sreenivasan, Addl. CIT
Section 133ASection 143(3)Section 147Section 148Section 40

…s income of the company. In the instant case there is no dispute with regard to the fact that the vehicles are used for the purpose of business of the Assessee Company. In the case of the Commissioner of Income Tax Vs. Basti Sugar Mills Company Limited [2002] 257 ITR 88 (Delhi), the Hon’ble Delhi High Court approved the decision of the Tribunal in holding that since the vehicle is a movable asset, the registration as required in the case of transfer of immovable property is not a condition precedent for legal ownership. In the instant case, the funds for purchase of vehicles have been provided by the Assessee Com…

SUNSHINE COMMUNICTION P.LTD,MUMBAI vs. ACIT CEN CIR 5(4), MUMBAI

In the result, he appeal filed by the assesse is partly allowed

ITA 2745/MUM/2017[2012-13]Status: DisposedITAT Mumbai13 Jul 2022AY 2012-13

Bench: Shri Prashant Maharishi, Accountat Member & Shri Pavan Kumar Gadales Rifaur M/S Sunshine Vs. Acit, Cc-5(4), Communication Pvt Ltd, Parimal Chambers, Thar & Co, 203, Capri Lalbaug, Bldg, Opp Hdil Towers Mumbai-400012. Anant Kanekar Marg, Bandra (E) Mumbai - 400051. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs4276L Appellant .. Respondent Appellant By : Shri Nimesh Thar.Ar Respondent By : Shri S.Anbuselvam.Dr Date Of Hearing 14.07.2022 Date Of Pronouncement 25.07.2022 आदेश / O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed The Appeal Against The Order Of The Commissioner Of Income Tax (Appeals)-53, Mumbai Passed U/S 143(3) & 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri Nimesh Thar.ARFor Respondent: Shri S.Anbuselvam.DR
Section 143(1)Section 143(2)Section 143(3)Section 14ASection 244ASection 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTAT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER S RIFAUR M/s Sunshine Vs. ACIT, CC-5(4), Communication Pvt Ltd, Parimal Chambers, Thar & Co, 203, Capri Lalbaug, Bldg, Opp HDIL Towers Mumbai-400012. Anant Kanekar Marg, Bandra (E) Mumbai - 400051. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AADCS4276L Appellant .. Respondent Appellant by : Shri Nimesh Thar.AR Respondent by : Shri S.Anbuselvam.DR Date of Hearing 14.07.2022 Date of Pronouncement 25.07.2022 आदेश / O R D E R PER PAVAN KUMAR GADALE, JM: The assessee has f…

SHIVAM WATER TREATERS PVT. LTD.,,AHMEDABAD vs. THE DY. CIT, CIRCLE-8, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 187/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad06 May 2022AY 2011-12

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’A’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER Sr. Asstt. Name of Name of ITA No. No. Year Appellant Respondent Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, Vasna Bus Stop, Dr. A.C.I.T.,(OSD) Jivraj Mehta Circle-8, 1. No.1320/Ahd/2014 2009-10 Hospital, Vasana, Ahmedabad Ahmedabad- 380007. PAN:AAFCS5613R Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, D.C.I.T.,(OSD) Vasna Bus Stop, Dr. Ci…

SHIVAM WATER TREATERS PVT. LTD.,,AHMEDABAD vs. THE DY. CIT, CIRCLE-4(1)(1),, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 2557/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad06 May 2022AY 2012-13

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’A’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER Sr. Asstt. Name of Name of ITA No. No. Year Appellant Respondent Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, Vasna Bus Stop, Dr. A.C.I.T.,(OSD) Jivraj Mehta Circle-8, 1. No.1320/Ahd/2014 2009-10 Hospital, Vasana, Ahmedabad Ahmedabad- 380007. PAN:AAFCS5613R Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, D.C.I.T.,(OSD) Vasna Bus Stop, Dr. Ci…

THE DCIT, CIRCLE-8,, AHMEDABAD vs. SHIVAM WATER TREATERS PVT. LTD.,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 1447/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad06 May 2022AY 2009-10

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’A’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER Sr. Asstt. Name of Name of ITA No. No. Year Appellant Respondent Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, Vasna Bus Stop, Dr. A.C.I.T.,(OSD) Jivraj Mehta Circle-8, 1. No.1320/Ahd/2014 2009-10 Hospital, Vasana, Ahmedabad Ahmedabad- 380007. PAN:AAFCS5613R Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, D.C.I.T.,(OSD) Vasna Bus Stop, Dr. Ci…

SHIVAM WATER TREATERS PVT. LTD.,,AHMEDABAD vs. THE ACIT, (OSD), CIRCLE-8,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 1320/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad06 May 2022AY 2009-10

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’A’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER Sr. Asstt. Name of Name of ITA No. No. Year Appellant Respondent Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, Vasna Bus Stop, Dr. A.C.I.T.,(OSD) Jivraj Mehta Circle-8, 1. No.1320/Ahd/2014 2009-10 Hospital, Vasana, Ahmedabad Ahmedabad- 380007. PAN:AAFCS5613R Shivam Water Treaters Pvt. Ltd., Shivam House, Parshana Padmavati, D.C.I.T.,(OSD) Vasna Bus Stop, Dr. Ci…

SAGAR POWERTEX PVT. LTD. (EARLIER SAGAR AGENCIES PVT.LTD.),AHMEDABAD vs. THE JT.CIT, RANGE-8,, AHMEDABAD

In the result, the appeal of the assessee is partly allowed statistical purposes

ITA 304/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad22 Jun 2021AY 2009-10

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.304/Ahd/2014 िनधा"रण वष"/Asstt. Year: 2009-2010 Sagar Powertex Pvt. Ltd., J.C.I.T., (Earlier Sagar Agencies Pvt. Ltd.) Vs. Range-8, 803, Sahajanand Complex, Ahmedabad. Shahibaug Road, Shahiibaug Ahmedabad-380004. Pan: Aadcs0473P

For Appellant: Shri Manish J. Shah, A.RFor Respondent: Shri R.R. Makwana, Sr.D.R
Section 14ASection 40Section 80Section 80I

…ed by the firm used by it for the purpose of its business but it was registered in the name of one of the partners then the firm would be entitled to depreciation on vehicle. The hon'ble Delhi High Court in the case of CIT v. Basti Sugar Mills Co. Ltd. [2002] 257 ITR 88 (Delhi) held that where vehicle was owned and used by the assessee but no registration was done in its name then the assessee would still be entitled to depreciation on such vehicle. Therefore, the assessee has right to claim depreciation thereon. This ground of the Revenue is accordingly rejected. " 12.2 Likewise the expenses incurred by the ass…

ASIAN MILLS PVT.LTD.,,AHMEDABAD vs. THE ADDL.CIT, RANGE-1,,, AHMEDABAD

In the result, the appeal of the assessee is allowed

ITA 1397/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad02 Mar 2021AY 2011-12

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 1397/Ahd/2015 "नधा"रण वष"/Asstt. Year: 2011-2012 Asian Mills Pvt. Ltd., A.C.I.T., 104, Sakar Iii, Vs. Range-1, Opp. Old High Court, Ahmedabad. Ashram Road, Ahmedabad-380014. Pan: Aabca8236G & आयकर अपील सं./Ita No. 1531/Ahd/2015 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T., Asian Mills Pvt. Ltd., Circle-1(1)(1), Vs. 104, Sakar Iii, Ahmedabad. Opp. Old High Court, Ashram Road, Ahmedabad-380014. Pan: Aabca8236G

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri R.R. Makwana, Sr.D.R
Section 194Section 194CSection 194C(6)Section 194C(7)Section 40Section 6Section 7

…ed by the firm used by it for the purpose of its business but it was registered in the name of one of the partners then the firm would be entitled to depreciation on vehicle. The hon'ble Delhi High Court in the case of CIT v. Basti Sugar Mills Co. Ltd. [2002] 257 ITR 88 (Delhi) held that where vehicle was owned and used by the assessee but no registration was done in its name then the assessee would still be entitled to depreciation on such vehicle. Therefore, the assessee has right to claim depreciation thereon. This ground of the Revenue is accordingly rejected. " 24.1 Regarding the other expenses of fuel and…

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

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

ITA 446/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2012-13

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…of the 11 ITA Nos. 413,445,268&318/Ahd/2016 and 446/Ahd/2016 ( AY 2012-13) AYs: 2010-11, 2011-12, 2012-13 partners then the firm would be entitled to depreciation on vehicle. The hon'ble Delhi High Court in the case of CIT v. Basti Sugar Mills Co. Ltd. [2002] 257 ITR 88 (Delhi) held that where vehicle was owned and used by the assessee but no registration was done in its name then the assessee would still be entitled to depreciation on such vehicle. Therefore, the assessee has right to claim depreciation thereon. This ground of the Revenue is accordingly rejected.” 21. Regarding the 2nd question as discussed abo…

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS FINANCIAL ADVISORS LTD., ( FORMERLY KNOWN ANAGRAM STOCK BROKING LTD.,), AHMEDABAD

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

ITA 445/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2011-12

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…of the 11 ITA Nos. 413,445,268&318/Ahd/2016 and 446/Ahd/2016 ( AY 2012-13) AYs: 2010-11, 2011-12, 2012-13 partners then the firm would be entitled to depreciation on vehicle. The hon'ble Delhi High Court in the case of CIT v. Basti Sugar Mills Co. Ltd. [2002] 257 ITR 88 (Delhi) held that where vehicle was owned and used by the assessee but no registration was done in its name then the assessee would still be entitled to depreciation on such vehicle. Therefore, the assessee has right to claim depreciation thereon. This ground of the Revenue is accordingly rejected.” 21. Regarding the 2nd question as discussed abo…

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CIT v. Basti Sugar Mills Co. Ltd. (257 ITR 88) — Cited in 34 Judgments | BharatTax