CIT v. Colour Chem Ltd.

106 ITR 323High Court1977#21897 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 1992 to 2024.

Judgments citing CIT v. Colour Chem Ltd.

Sweetoo Apparels, Ahmedabad vs. ACIT, Circle5(2), Ahmedabad

In the result, the appeal is dismissed

ITA 341/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad05 Jul 2024AY 2014-15

Bench: Smt. Annapurna Gupta (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

Section 250

…it must be regarded as building. It is submitted that land below shops is also used for the purpose of business and hence part of the building. 6. The CIT (Appeals) ought to have observed that Hon'ble Bombay High Court in the case of CIT v/s Colour Chem Ltd.106 ITR 323 has considered the ratio of Hon'ble Supreme Court in the case of CIT v/s Alps Theatre 65 ITR 377 (SC) and held that roads in factory premises are also part of the " Building" and hence depreciation is allowable on the cost of roads which is nothing but land. I.T.A No. 341/Ahd/2018 A.Y. 2014-15 Page No 3 Sweetoo Apparels vs. ACIT 7. The CIT (App…

M/S. Sweetoo Apparels, Ahmedabad vs. The Dy. CIT, Circle-5(2), Ahmedbad

In the result, the appeal is dismissed

ITA 2189/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad08 May 2019AY 2013-14

Bench: Shri Pramod Kumar] Assessment Year : 2013-14 Sweetoo Apparels ......…………......Appellant Om Complex, Cg Road, Navrangpura, Ahmedabad – 380 009 [Pan : Aahfs 1640 K] Vs. Deputy Commissioner Of Income-Tax ............................Respondent Circle-5 (2), Ahmedabad Appearances By: Cn Shah, For The Applicant Anand Kumar, For The Respondent Date Of Concluding The Hearing : 20.02.2019 Date Of Pronouncing The Order : 08.05.2019

…admissible in respect of land cost of which is embedded in the overall cost of building. Learned counsel, however, contends that this decision is not good law in view of the decision of Hon’ble Bombay High Court in the case of CIT vs. Colour Chem Ltd. [(1977) 106 ITR 323 (Bom)] which stands approved by Hon’ble Supreme Court in the judgment reported as CIT vs. Gwalior Rayon Silk Mfg. Co. Ltd. [(1992) 196 ITR 149 (SC)]. While on this plea, I can only refer to the following observations made by Hon’ble Bombay High Court in the above case: SMC- ITA No. 2189/Ahd/2017 Sweetoo Apparels Vs. DCIT Assessment year: 2013-2…

Commissioner of Income-Tax(Central) vs. M/S. Gwalior Rayon Silk Mfg.(Wvg.)Co.Ltd

The appeal is partly allowed

C.A. No.-002916-002916 - 1980Supreme Court29 Apr 1992

For Respondent: GWALIOR RAYON SILK MANUFACTURING CO. LTD

Section 256(1)Section 256(2)Section 32

…spondent I.T.O. disallowed the claim for depreciation on roads and drains for the assessment year 1977-78. The Commissioner Income-tax (Appeals) allowed the depreciation following the decision of the Bombay High Court in C.I.T. v. Colour Chem Ltd., (106 ITR 323) and Madras High Court decision in C.I.T. v. Loockers TVs Ltd., (110 ITR 346). The Tribunal dismissed the appeal filed by the revenue. The Tribunal rejected the reference application filed under Section 256 (1). On a reference application filed by the revenue under Section 256(2), the High Court directed the…