CIT v. HLS India Ltd.

335 ITR 292High Court2011#5115 most cited

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.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2024.

Also referred to as

CIT v. HLS India Ltd. · Section 32 · mineral oil exploration · oil rigs · charter hire · depreciation rate · Appendix I of Income Tax Rules · 1962

Also reported as

11 Taxmann.com 83

Issues it is cited on

tax benefitsection 32companyindiabusiness

Judgments citing CIT v. HLS India Ltd.

Oil Field Instrumentation (India) Pvt. Ltd., Mumbai vs. Addl. CIT RG. 1(2) & CIT (OSD), Mumbai

ITA 2233/MUM/2016[2011-12]Status: DisposedITAT Mumbai28 Feb 2018AY 2011-12

Bench: Shrir. C. Sharma, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 2233/Mum/2016 (निर्धारणवर्ा / Assessment Year:2011-12)

For Appellant: Sh. M. C. OmiFor Respondent: Dr. K. Shivaram & Shri
Section 143(3)Section 14ASection 32(1)Section 32(1)(iia)Section 40A(2)

…a manufacturer or production of any article or thing and the Mud Logging Units manufactured by the assessee are for captive use and not for sale in the open market. We have also gone through the legal proposition in the case of CIT Vrs. HLS India Ltd. (2011) 335 ITR 292 (Delhi) wherein on identical facts, it was held that the production of mud logging reports and analysis given the process involved tantamounts to 'Manufacture or production of article or thing' as held by the High Court of Delhi observed as under:- Having analyzed the submissions of/earned counsel of both the parties and the material available fo…

Surendra Kumar Joshi, Kolkata vs. The ACIT, Cir-40, Kolkata

In the result the appeal of the assessee is allowed

ITA 869/KOL/2015[2010-11]Status: DisposedITAT Kolkata28 Dec 2016AY 2010-11

Bench: Hon’Ble Sri Aby T.Varkey, Jm & Shri Waseem Ahmed, Am ] I.T.A No.869/Kol/2015 Assessment Year : 2010-11 Surendra Kumar Joshi -Vs.- A.C.I.T., Circle-40, Kolkata Kolkata [Pan : Acppj 2620 L] (Respondent) (Appellant) For The Appellant : Shri A.K.Tibrewal, Fca & Shri Amit Agarwal, Advocate For The Respondent : None Date Of Hearing : 09.12.2016. Date Of Pronouncement : 28.12.2016. Order

For Appellant: Shri A.K.Tibrewal, FCA &For Respondent: None
Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : KOLKATA [Before Hon’ble Sri Aby T.Varkey, JM & Shri Waseem Ahmed, AM ] I.T.A No.869/Kol/2015 Assessment Year : 2010-11 Surendra Kumar Joshi -vs.- A.C.I.T., Circle-40, Kolkata Kolkata [PAN : ACPPJ 2620 L] (Respondent) (Appellant) For the Appellant : Shri A.K.Tibrewal, FCA & Shri Amit Agarwal, Advocate For the Respondent : None Date of Hearing : 09.12.2016. Date of Pronouncement : 28.12.2016. ORDER Per Aby T.Varkey, JM This is an appeal preferred by the Assessee against the order of CIT(A)-12, Kolkata dated 11.03.2015 for AY 2010-11. 2. The sole issue by which…

M/S. Sukripam Worldwide, New Delhi vs. ACIT, New Delhi

In the result assessee’s appeal is allowed

ITA 5561/DEL/2015[2010-11]Status: DisposedITAT Delhi22 Sept 2016AY 2010-11

Bench: Shri J. Sudhakar Reddyay: 2010-11 Sukripam Worldwide Vs. Acit, Circle 59(3) S 205, Rajkamal Sadan New Delhi Preet Vihar, Commercial Complex New Delhi

For Appellant: Shri K.Sampath, Adv. &For Respondent: Sh. Rajesh Kumar, Sr.D.R
Section 2Section 80Section 80ISection 80l

…was correct. There was no fresh material to show that the manufactured item was no different from the inputs that were used in bringing out a totally different marketable product.” 6.1. The Hon’ble Delhi High Court in the case of CIT vs. HLS India Ltd. (2011) 335 ITR 292 (Delhi) held as follows. “Held, dismissing the appeals (i) that on the facts and in the circumstances of the case, the assessee could be said to be an industrial undertaking in the business of manufacture or production of an article or a thing for the purpose of section 32A and section 80-IA/80-IB. (ii) That OIL had informed the A.O. that the equ…