What is CIT v. HLS India Ltd. authority for?

An assessee engaged in the business of rendering services to mineral oil concerns for drilling operations on a charter hire basis using its own oil rigs is eligible for the higher rate of depreciation under Section 32 for plant and machinery used in mineral oil exploration.

How many judgments cite CIT v. HLS India Ltd.?

23 judgments on BharatTax cite CIT v. HLS India Ltd. (335 ITR 292), spanning 2016 to 2024.

CIT v. HLS India Ltd. (335 ITR 292)

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. QUIPPO OIL AND GAS INFRASTRUCTURE LTD., NEW DELHI

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

ITA 4885/DEL/2018[2014-15]Status: DisposedITAT Delhi03 May 2024AY 2014-15

Bench: the Ld. CIT(A) and before Ld. CIT(A) the assessee has made a detailed submissions and submitted that the issues under consideration relating to depreciation on oil rigs and computers. The issue of capitalization of repairs and maintenance are covered issue in favour of the assessee by the earlier decision of First Appellate Authority. The Ld. CIT(A) has allowed the grounds raised by the assessee by following the appellate order in assesse’s own case.

Section 143(1)Section 143(2)Section 32

…Tax Rules, 1962. The A.O. disallowed the excess of Rs. 3,01,78,780/-on the ground that the assessee is not a mineral oil concern. In appeal, the Ld.CIT(A) by relying on the decision of the Hon'ble Delhi High Court in the case of CIT vs. HLS India Ltd. (2011) 335 ITR 292 (Del.) and also order of the assessee's own case in earlier years, deleted the addition made by the A.O. 10. For the purpose of claiming the deprecation u/s 32 of the Act, following two conditions need to be satisfied:- (i) The assets must by owned by the assessee. (ii) The assets must be used for the purpose of business or profession. In the ins…

DCIT, CIRCLE- 20(2), NEW DELHI vs. QUIPPO ENERGY (P) LTD.,, NEW DELHI

In the result, appeal of the Revenue is dismissed

ITA 4120/DEL/2017[2011-12]Status: DisposedITAT Delhi23 Apr 2024AY 2011-12

Bench: Shri Challa Nagendra Prasad & Dr. B.R.R. Kumarआ.अ.सं/.I.T.A No.4120/Del/2017 िनधा"रणवष"/Assessment Year: 2011-12 बनाम Dcit, Quippo Energy (P) Ltd., D-2, 5Th Floor, Southern Park, Circle 20(2), Vs. New Delhi. Saket Place, New Delhi. Pan No. Aaacq1675Q अपीलाथ" Appellant ""यथ"/Respondent

Section 79

…eleted the disallowance made by the AO following the decision of the Hon’ble Supreme Court in the case of M/s ICDS Vs. CIT [350 ITR 527] and also the decision of the Hon’ble Delhi High I.T.A.No.4120/Del/2017 Court in the case of CIT Vs. HLS India Limited [335 ITR 292] observing as under: - “4.2. I have carefully considered the assessment order and written submissions filed by the Ld. AR. The AO disallowed an amount of Rs1,39,22,151/- being excess depreciation claimed, contending that the higher rate of depreciation @ 80% on energy saving devices is available only to the concerns which are involved either i…

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. QUIPPO OIL AND GAS INFRASTRUCTURE LTD., NEW DELHI

In the result, the ground no

ITA 3544/DEL/2018[2013-14]Status: DisposedITAT Delhi23 Mar 2023AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar U.S.

For Appellant: Ms. Alka ArrenFor Respondent: Shri T. Kipgen

Section 32Section 40Section 43B

…ax Rules, 1962. The A.O. disallowed the excess of Rs. 3,01,78,780/-on the ground that the assessee is not a mineral oil concern. In appeal, the Ld.CIT(A) by relying on the decision of the Hon’ble Delhi High Court in the case of CIT vs. HLS India Ltd. (2011) 335 ITR 292 (Del.) and also order of the assessee’s own case in earlier years, deleted the addition made by the A.O. 10. For the purpose of claiming the deprecation u/s 32 of the Act, following two conditions need to be satisfied:- (i) The assets must by owned by the assessee. (ii) The assets must be used for the purpose of business or profession. In th…

DCIT, NEW DELHI vs. M/S. QUIPPO OIL & GAS INFRASTRUCTURE LTD., NEW DELHI

In the result, the ground no

ITA 3886/DEL/2015[2010-11]Status: DisposedITAT Delhi08 Mar 2022AY 2010-11

Bench: Shri Amit Shukla & Shri Pradip Kumar Kedia

For Appellant: Smt. Alka Arren, AdvFor Respondent: Shri T. Kipgen, CIT-DR

Section 143(3)Section 32

…l oil exploration as per entry at Part A-III-(8)(xii) of Appendix-I of the Income Tax Rules, 1962. It was thus submitted that the ld. CIT(A) has wrongly applied the principles laid down by the Hon’ble Jurisdictional High Court in CIT vs. HLS India Ltd. (2011) 335 ITR 292 (Del). It was thus submitted that Assessing Officer has rightly substituted the accelerated depreciation rate from 60% as claimed to a normal depreciation of 15% as eligible to assessee. 3. The ld. counsel for the assessee, on the other hand, pointed out that the assessee is a public limited company engaged, inter I.T.A. No. 3886/DEL/2015 3 al…

ACIT CIRCLE-15(1)(2), MUMBAI vs. M/S DUNNIMMA ENGINEERS & DIVERS ENTERPRISES PVT LTD., MUMBAI

In the result, both the appeals of Revenue are dismissed

ITA 2657/MUM/2019[2013-14]Status: DisposedITAT Mumbai25 Mar 2021AY 2013-14

Bench: Sri Mahavir Singh, Vp & Sri S Rifaur Rahman, Am आमकय अऩीर िं./ Ita No. 2657/Mum/2019 (ननधाायण वर्ा / Assessment Year 2013-14) आमकय अऩीर िं./ Ita No. 3250/Mum/2019 (ननधाायण वर्ा / Assessment Year 2014-15) The Asst. Commissioner Of Income M/S Dunnimaa Engineers & Tax, Circle-15(1)(2) Drivers Enterprises Pvt. Ltd. 4 Th Room No. 438A, Floor, फनाभ/ D-159, Midc, Nerul, Navi Aayakar Bhavan, M.K. Road, Mumbai-400 706 Vs. Mumbai-400 020 (अऩीराथी / Appellant) (प्रत्मथी/ Respondent) स्थामी रेखा िं./Pan No. Aabcd0115D अऩीराथी की ओय े/ Appellant By : Shri Kailash Kanojia, Dr प्रत्मथी की ओय े/ Respondent By : Shri Rajesh Shah, Ar ुनवाई की तायीख / Date Of Hearing: 25.03.2021 घोर्णा की तायीख / Date Of Pronouncement: 25.03.2021

For Appellant: Shri Kailash Kanojia, DRFor Respondent: Shri Rajesh Shah, AR

Section 143(3)Section 14A

…whether the Ld.CIT(A) was correct in Law, in deleting the disallowance of depreciation amounting to Rs.2,21,35,877/-, by relying on the decision in the case of DCIT vs. Gearhert India Ltd (1999) 64 TTJ (Del) 63 and the decision of CIT vs. HLS Inida Ltd (2011) 335 ITR 292 (Delhi) and holding that the assessee is entitled for depreciation as per IT Rules, ignoring that in both the said decision the matter was set aside to the file of the AO to re-examine whether nature of operations and equipment in question were same as used by the assessee and mineral concern i.e., OIL/ONOC, thereby the Ld.CIT(A) has unilaterally…

ASIAN OILFIELD SERVICE LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

In the result, appeal of the assessee for the A

ITA 144/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad17 Feb 2021AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Dharmesh ShahFor Respondent: Shri Brajendra Kumar

Section 143(3)

…e purpose of the business. 25. Ld. Counsel for the assessee submitted that the issue is squarely covered by the decision of Hon'ble Delhi high Court in the case of CIT v. 18 ITA.No. 144/AHD/2013 (A.Y: 2009-10) Asian Oilfield Services Limited HLS India Ltd. [335 ITR 292] and confirmed by Hon'ble Supreme Court in SLID CC No. 2661/2012] dated 13.02.2012 wherein it has been held that mineral oil activity can be said to be 'production and manufacture of an article or thing' and hence eligible for additional allowance. 26. Similarly, reliance was placed on the following decisions wherein the claim of additional depr…

ASIAN OILFIELD SERVICES LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

In the result, appeal of the assessee for the A

ITA 1266/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad17 Feb 2021AY 2008-09

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Dharmesh ShahFor Respondent: Shri Brajendra Kumar

Section 143(3)

…e purpose of the business. 25. Ld. Counsel for the assessee submitted that the issue is squarely covered by the decision of Hon'ble Delhi high Court in the case of CIT v. 18 ITA.No. 144/AHD/2013 (A.Y: 2009-10) Asian Oilfield Services Limited HLS India Ltd. [335 ITR 292] and confirmed by Hon'ble Supreme Court in SLID CC No. 2661/2012] dated 13.02.2012 wherein it has been held that mineral oil activity can be said to be 'production and manufacture of an article or thing' and hence eligible for additional allowance. 26. Similarly, reliance was placed on the following decisions wherein the claim of additional depr…

ACIT, NEW DELHI vs. M/S. QUIPPO OIL & GAS INFRASTRUCTURE LTD., NEW DELHI

In the result, cross objection of the assessee is allowed

ITA 1445/DEL/2015[2009-10]Status: DisposedITAT Delhi06 Mar 2020AY 2009-10

Bench: Shri Amit Shukla & Shri Prashant Maharishiacit, Vs. Quippo Oil & Gas Circle-20(2), Infrastructure Ltd, New Delhi D-2, 5Th Floor, Southern Park, Saket Palace, Saket, New Delhi (Appellant) (Respondent)

For Appellant: Smt Alka Arren, AdvFor Respondent: Smt Sulekha Verma, CIT DR

Section 143(3)Section 14A

…f the appellant, which is to give these assets on lease. He held that the oil rigs are large structure with the equipment for removing the oil from under sea. He further relied upon the decision of the Hon'ble Delhi High Court in case of CIT Vs. HLS India Ltd 335 ITR 292. Therefore, the ld AO is in appeal against the same. 8. The ld DR relied heavily on the order of the ld AO. 9. The ld AR submitted that the issue is squarely covered in favour of the assessee in assessee‟s own case for Assessment Year 2007-08 and 2008-09 where ITAT has allowed the claim of the assessee of depreciation @60% on the above equipment.…