CIT v. Gupta Global Exim P. Ltd.

305 ITR 132Supreme Court of India2008#3514 most cited

What is CIT v. Gupta Global Exim P. Ltd. authority for?

For claiming higher depreciation on trucks, the relevant consideration is whether the assessee was engaged in the business of hiring out trucks, not merely including transportation income in total business income.

34

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2014 to 2026.

Also referred to as

CIT v. Gupta Global Exim · Higher Depreciation · Business of Hiring Trucks · Appendix I to Income Tax Rules · 1962 · Transportation Income · Section 10(2)(xv) · Depreciation on Motor Lorries

Also reported as

171 Taxmann 474

Sections most often in play

Section 142(1)Section 143(2)Section 143(3)Section 139Section 144Section 147Section 1962Section 250
Read the full judgment

Issues it is cited on

section 10(2)(xv)section 10(2)explanation to section 37prohibited by lawsection 129credit for tdssection 30furnishing inaccurate particulars of incomeprofits and gains of business or professionfurnishing inaccurate particularssection 274section 32

Judgments citing CIT v. Gupta Global Exim P. Ltd.

Arihant Constructions, Visakhapatnam vs. The Assistant Commissioner of Income Tax, Circle-4(1), Visakhapatnam

In the result, appeals of the assessee for the A

ITA 321/VIZ/2019[2011-12]Status: DisposedITAT Visakhapatnam23 Aug 2019AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.321-325/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 To 2015-16) M/S Arihant Constructions Vs. Asst.Commissioner Of Income Tax M/S B.V.Rao & Co Llp Circle-4(1) Chartered Accountants Visakhapatnam Ff-1, Satya Lakshmi Vinayaka Towers, Madhuranagar Visakhapatnam [Pan : Aarfa0600P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri B.V.Rao, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.V.Subba Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 05.08.2019 घोर्णध की तधरीख/Date Of Pronouncement : 23 .08.2019

For Appellant: Shri B.V.Rao, ARFor Respondent: Shri D.V.Subba Rao, DR
Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.321-325/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 to 2015-16) M/s Arihant Constructions Vs. Asst.Commissioner of Income Tax M/s B.V.Rao & CO LLP Circle-4(1) Chartered Accountants Visakhapatnam FF-1, Satya Lakshmi Vinayaka Towers, Madhuranagar Visakhapatnam [PAN : AARFA0600P] (अपीलार्थी/ Appellant) (प्…

Rural Communication and Marketing Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee stands dismissed

ITA 1338/DEL/2017[2013-14]Status: DisposedITAT Delhi12 Jul 2019AY 2013-14

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra, Ac C O U N Ta N T Member

…here is no evidence that the vehicies are used for earning Business Income. He a/so quoted that the assessee is not carrying on the business of Transportation. In order to substantiate his argument, he also quoted the case o f C IT V Gupta Global Ex/m PvtLtd. 305 ITR 132 (SC) 2008 and another case o f C IT v Pradip N. Desai (HUF) (2012) 341 ITR 277 (Guj). The A O calculated the allowable depreciation @ 15% instead of 30% and disallowed an amount o f Rs.19,57,837/- on this account He also initiated a penalty u/s 2 7 1 (l)(c ) for concealment of true particulars of income. 4. The Assessee filed appeal before C!T(A…

Amit Sabharwal, Ghaziabad vs. ITO, Ward- 1(5), Ghaziabad

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

ITA 886/DEL/2018[2009-10]Status: DisposedITAT Delhi14 May 2019AY 2009-10
For Appellant: Dr. Rakesh Gupta &For Respondent: Shri S.L. Anuragi, Sr. DR
Section 143(3)Section 271ASection 271BSection 44A

…ter a period of more than four years, therefore, the penalty so levied by the Assessing Officer and upheld by the CIT(A) is not justified. He also relied on the decision of the Hon'ble Delhi High Court in the case of CIT vs. NHK Japan Corporation reported in 305 ITR 132. 9. The ld. DR, on the other hand, heavily relied on the order of the CIT(A). He submitted that the turnover of the assessee is more than the prescribed limit and, therefore, the assessee should have got its accounts audited. Since the assessee has 4 failed to comply with the provisions of section 44AB and there was no reasonable cause for not…

DCIT 4(3)(1), Mumbai vs. Tauiran Iron & Steel Co. P.Ltd, Mumbai

ITA 1284/MUM/2015[2009-10]Status: DisposedITAT Mumbai11 May 2018AY 2009-10
For Appellant: Shri K.B. DesaiFor Respondent: Shri Saurabh Deshpande-DR
Section 144CSection 254(1)

…essary as long as assessee had dominion over the assets,that De facto ownership was to be looked into and nont De jure ownership.He referred to the cases of Indian Railway Finance Corporation(362 ITR 548),Mysore Minerals (239 ITR 775)Gupta Global Exim(P.)Ltd.(305 ITR 132). 11.We have heard the rival submission.We find that in the case of Gupta Global Exim(P.)Ltd. Following the order of the Tribunal earlier year(supra),we decide the ground no.4 against the AO,as the order of the FAA does not suffer from any infirmity. ITA/1281/Mum/2015: 1284 & 1281/M/15 M/s. Taurian Iron & Steel Company.Pvt.Ltd. 12.Solitary groun…

ACIT, Chatrapatti vs. M/S. Chakiat Agencies Pvt. Ltd., Chennai

In the result, the appeals filed by the assessee are allowed and appeals filed by the Revenue are partly allowed for statistical purposes

ITA 3042/CHNY/2016[2013-14]Status: DisposedITAT Chennai27 Sept 2017AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.2981 & 2982/Mds/2016 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Shri Avijit Rakshit, JCIT

…ation on the ground that the assessee is not in the business of running the trailers / lorries on hire. The CIT(Appeals) confirmed the order of the Assessing Officer by placing reliance on the judgment of Apex Court in CIT v. Gupta Global Exim P. Ltd. (2008) 305 ITR 132. 4. Referring to the circular of the CBDT in Circular No.652 dated 14.06.1993, the Ld. representative for the assessee 3 I.T.A. Nos.2981 & 2982/Mds/16 I.T.A. Nos.3041 & 3042/Mds/16 submitted that when the assessee has its trailers / lorries in its business of transport of goods, it is eligible for higher rate of depreciation. According to the…

ACIT, Chatrapatti vs. M/S. Chakiat Agencies Pvt. Ltd., Chennai

In the result, the appeals filed by the assessee are allowed and appeals filed by the Revenue are partly allowed for statistical purposes

ITA 3041/CHNY/2016[2012-13]Status: DisposedITAT Chennai27 Sept 2017AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.2981 & 2982/Mds/2016 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Shri Avijit Rakshit, JCIT

…ation on the ground that the assessee is not in the business of running the trailers / lorries on hire. The CIT(Appeals) confirmed the order of the Assessing Officer by placing reliance on the judgment of Apex Court in CIT v. Gupta Global Exim P. Ltd. (2008) 305 ITR 132. 4. Referring to the circular of the CBDT in Circular No.652 dated 14.06.1993, the Ld. representative for the assessee 3 I.T.A. Nos.2981 & 2982/Mds/16 I.T.A. Nos.3041 & 3042/Mds/16 submitted that when the assessee has its trailers / lorries in its business of transport of goods, it is eligible for higher rate of depreciation. According to the…

M/S. Chakiat Agencies Pvt. Ltd., Chennai vs. ITO, Chennai

In the result, the appeals filed by the assessee are allowed and appeals filed by the Revenue are partly allowed for statistical purposes

ITA 2982/CHNY/2016[2013-14]Status: DisposedITAT Chennai27 Sept 2017AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.2981 & 2982/Mds/2016 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Shri Avijit Rakshit, JCIT

…ation on the ground that the assessee is not in the business of running the trailers / lorries on hire. The CIT(Appeals) confirmed the order of the Assessing Officer by placing reliance on the judgment of Apex Court in CIT v. Gupta Global Exim P. Ltd. (2008) 305 ITR 132. 4. Referring to the circular of the CBDT in Circular No.652 dated 14.06.1993, the Ld. representative for the assessee 3 I.T.A. Nos.2981 & 2982/Mds/16 I.T.A. Nos.3041 & 3042/Mds/16 submitted that when the assessee has its trailers / lorries in its business of transport of goods, it is eligible for higher rate of depreciation. According to the…

M/S. Chakiat Agencies Pvt. Ltd., Chennai vs. DCIT, Chennai

In the result, the appeals filed by the assessee are allowed and appeals filed by the Revenue are partly allowed for statistical purposes

ITA 2981/CHNY/2016[2012-13]Status: DisposedITAT Chennai27 Sept 2017AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.2981 & 2982/Mds/2016 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Shri Avijit Rakshit, JCIT

…ation on the ground that the assessee is not in the business of running the trailers / lorries on hire. The CIT(Appeals) confirmed the order of the Assessing Officer by placing reliance on the judgment of Apex Court in CIT v. Gupta Global Exim P. Ltd. (2008) 305 ITR 132. 4. Referring to the circular of the CBDT in Circular No.652 dated 14.06.1993, the Ld. representative for the assessee 3 I.T.A. Nos.2981 & 2982/Mds/16 I.T.A. Nos.3041 & 3042/Mds/16 submitted that when the assessee has its trailers / lorries in its business of transport of goods, it is eligible for higher rate of depreciation. According to the…

Chennai Radha Engineering Works Private Limited, Chennai vs. Addl. CIT, Chennai

In the result, the appeal of the assessee stands dismissed

ITA 1259/CHNY/2016[2011-12]Status: DisposedITAT Chennai25 Nov 2016AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singh

For Appellant: Shri T.Banusekar, C.AFor Respondent: Shri A.V.Sreekanth, JCIT

…ccording to the learned representative, when the assessee used motor vehicles in its own business, the same is eligible for higher rate of depreciation. 4. Referring to the judgment of the Apex Court in CIT Vs. Gupta Global Exim (P) Ltd. reported in [2008] 305 ITR 132 (SC), the learned representative submitted that in the case before the Apex Court, there was no evidence to indicate that the assessee was in the business of hiring out motor Lorries for running them to earn business income. In the case before us, according to the learned representative, materials available on record to substantiate that the a…

Shri Hribu Bose, Asansol vs. I.T.O, Ward-1(2), Asansol

In the result, the appeal filed by the assessee in ITA

ITA 2214/KOL/2013[2009-10]Status: DisposedITAT Kolkata30 Sept 2016AY 2009-10

Bench: Shri P.M Jagtap & Shri S.S.Viswanethra Ravi

Section 194Section 40Section 68

…rred in law and on facts by deleting the addition of Rs. 11,35,369/- on account of disallowance of excess depreciation on dumpers. Whereas A.O. had made his decision judiciously relying upon decision of CIT Vs Gupta Global Exim (P) Ltd. (2008) 171 Taxmann 474/305 ITR 132(SC) that depreciation block of 30% is applicable only when assessee is in business of hiring out its buses, lorries or taxies. Here assessee used his all dumpers for own business. The specific and rationale finding of A.O. is not being taken into concern by Ld.CIT (A). 4) That Ld. Commissioner of Income Tax (Appeal) erred in law and on facts by…

Gangadhara Swamy Muniyappa, Bangalore vs. Pr. CIT, Bangalore

In the result, appeal of the assessee is allowed

ITA 710/BANG/2015[2011-12]Status: DisposedITAT Bangalore26 Aug 2016AY 2011-12

Bench: Shri. Vijay Pal Rao & Shri. Inturi Rama Raoi.T.A No.710/Bang/2015 (Assessment Year : 2011-12) Shri. S. H. Gangadhara Swamy Muniyappa, No.57, Deepthi Nilaya, 3Rd Stage, Sanjay Nagar, Bengaluru 560 094 .. Appellant Pan : Aghpm5171F V. Principal Commissioner Of Income-Tax, Circle -6, Bangalore .. Respondent Assessee By : Shri. Rama Raju, Advocate Revenue By : Shri. S. S Parida, Cit-Dr Heard On : 22.08.2016 Pronounced On : 26.08.2016 O R D E R Per Vijay Pal Rao:

For Appellant: Shri. Rama Raju, AdvocateFor Respondent: Shri. S. S Parida, CIT-DR
Section 143(3)Section 263Section 32

…ITA.710/Bang/2015 Page - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH 'A', BANGALORE BEFORE SHRI. VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI. INTURI RAMA RAO, ACCOUNTANT MEMBER I.T.A No.710/Bang/2015 (Assessment Year : 2011-12) Shri. S. H. Gangadhara Swamy Muniyappa, No.57, Deepthi Nilaya, 3rd Stage, Sanjay Nagar, Bengaluru 560 094 .. Appellant PAN : AGHPM5171F v. Principal Commissioner of Income-tax, Circle -6, Bangalore .. Respondent Assessee by : Shri. Rama Raju, Advocate Revenue by : Shri. S. S Parida, CIT-DR Heard on : 22.08.2016 Pronounced on : 26.08.2016 O R D E R PER VIJAY PAL RAO, JUDICIAL MEMBE…

DCIT, Udupi vs. Sri. Prashanth Laxman Prabhu, Kumta

In the result, appeal of the Revenue stands dismissed

ITA 641/BANG/2014[2009 - 10]Status: DisposedITAT Bangalore03 Jul 2015

Bench: Smt. P. Madhavi Devi

For Appellant: Shri. Suresh Muthukrishna, CAFor Respondent: Dr. P. K. Srihari, Addl.CIT

…he vehicles were hired out only on very few occasions. AO also noted that Tax Audit Report in form 3 CB declared the business of the assessee as civil contracting. Relying on the decision of Hon’ble Apex Court in the case of CIT v. Gupta Global Exim (P) Ltd (305 ITR 132), AO held that higher rate of depreciation was allowable only if the business of assessee was running buses, lorries & taxis on hire. He, therefore, held that assessee was not entitled for higher rate of depreciation. Resulting disallowance came to Rs.15,45,837/-. ITA.641/Bang/2014 Page - 3 04. In its appeal before CIT (A), argument of the asse…

DCIT, Bangalore vs. M/S Snowman Logistics Ltd., Bangalore

In the result, Revenue’s appeal for Assessment Year 2009-10 is partly allowed

ITA 382/BANG/2014[2009-10]Status: DisposedITAT Bangalore26 Jun 2015AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

For Appellant: Dr.P.K. Srihari, Addl. CIT (D.R.)For Respondent: Shri Cherian K Baby, CA
Section 143(1)Section 143(3)

…ew asset or increase of capacity and therefore the expenditure incurred in this regard are revenue in nature. In support of its contentions, the assessee placed reliance on the decision of the Hon'ble Apex Court in the case of CIT V Gupta Global Exim P. Ltd. (305 ITR 132) (SC). 7 6.5.1 We have heard the rival contentions and perused and carefully considered the material on record; including the judicial decisions relied upon. It is not in dispute that the expenditure claimed has been incurred towards replacement of tyres and pallets and that these expenses therefore do not result in the creation of new assets or…

Commissioner of Income Tax-21 vs. Mr. Sarkar Nath Oberoi

ITA/720/2014HC Delhi24 Nov 2014

Bench: The Due Date Of The Filing Of The Return. In View Of This Admitted Factual Position, The Question Has To Be Decided Against The Appellant Revenue In View Of The Decision Of This Court In Commissioner Of Income Tax Vs. Naresh Kumar, [2014] 362 Itr 256 (Delhi), Wherein, It Has Been Held That Amendment To Section 40(A)(Ia) By Finance At, 2010 Has Retrospective Effect. The Respondent Assessee Would Be Entitled To Benefit Of The Proviso Added To Section 40(A)(Ia) Vide Finance 2014:Dhc:6356-Db

Section 32Section 40

…erating revenue/income. It is not the case of the revenue that the respondent assessee was plying the motor lorries for transporting goods belonging to the assessee. The Supreme Court in Commissioner of Income Tax Vs. Gupta Global Exim (Pvt.) Ltd., [2008] 305 ITR 132 (SC) has held that the true test which should be applied, is whether the assessee was in the business of transportation and the vehicles were used for the said business. This would show whether the vehicles were run on hire. The said test has been rightly applied in the present case. 4. In view of the factual findings recorded by the T…