CIT v. Kerala Electric Lamp Works Ltd.

261 ITR 721High Court2003#9605 most cited

What is CIT v. Kerala Electric Lamp Works Ltd. authority for?

Depreciation must be reduced when computing profits eligible for deduction under Section 80-IA as it is a self-contained code.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2021.

Also referred to as

CIT v. Kerala Electric Lamp Works Ltd. · 261 ITR 721 · Section 80-IA · depreciation · deduction · profits eligible for deduction · Chapter VI-A · Chapter IV

Judgments citing CIT v. Kerala Electric Lamp Works Ltd.

Prism Cement Ltd, Mumbai vs. DCIT CC 6(1), Mumbai

ITA 804/MUM/2018[2012-13]Status: DisposedITAT Mumbai04 Jan 2021AY 2012-13

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 804 & 805/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13 & 2011-12)

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri V. Sreekar, DR
Section 115JSection 143(1)Section 143(2)Section 14A

…own value could not be considered to work out the depreciation of the current year. The Hon'ble Madras High Court in CIT vs Sree Senhavalti Textiles (P.) Ltd. (2003) 253 ITR 77 (Mad.), Hon'ble Kerala High Court in CIT vs Kerala Electric Lamp Works Ltd. (2003) 261 ITR 721 (Ker.), the Hon'ble J ft K. High Court in CIT vs Agya Wanti 248 ITR 641 (J & K). It is noted that the Department has relied upon the decision in K. K. Doshi (245 ITR 849)(Bom.), which has been reversed by Hon'ble Apex Court in (2008) 297 ITR 38(SC), wherein, the main point was that as to whether the amendment to section 80HHC of the Income Tax Ac…

M/S Fastway Transmission (P) Ltd., Chandigarh vs. DCIT, CC-II, Chandigarh

In the result the captioned appeals of the assessee are

ITA 140/CHANDI/2019[2015-16]Status: DisposedITAT Chandigarh28 Apr 2020AY 2015-16

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Chandrajit Singh, CIT (DR) on 4.12.2019
Section 250(6)

…s been held to be mandatory and prospectively applicable w.e.f. 01.04.2002 through various judicial pronouncements. Reliance in this respect can be placed on the decisions of Kerala High Court in the case of “CIT v. Kerala Electric Lamp Works Ltd.” [2003] 261 ITR 721; Madras High Court in the case of “CIT v. Sree Senhavalli Textiles (P.) Ltd.”[2003] 259 ITR 77; Punjab and Haryana High Court in the case of “Ram Nath Jindal and Jagjiwan Ram v. CIT” [2001] 252 ITR 590; Kolkata Bench of ITAT in “Bhagwati Sponge (P.) Ltd. v. DCIT” [2016] 72 taxmann.com 40 ; “Dilip Kumar Roy v. DCIT” [2011] 11 taxmann.com 107…

M/S Fastway Transmission (P) Ltd., Chandigarh vs. DCIT, CC-II, Chandigarh

In the result the captioned appeals of the assessee are

ITA 139/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh28 Apr 2020AY 2012-13

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Chandrajit Singh, CIT (DR) on 4.12.2019
Section 250(6)

…s been held to be mandatory and prospectively applicable w.e.f. 01.04.2002 through various judicial pronouncements. Reliance in this respect can be placed on the decisions of Kerala High Court in the case of “CIT v. Kerala Electric Lamp Works Ltd.” [2003] 261 ITR 721; Madras High Court in the case of “CIT v. Sree Senhavalli Textiles (P.) Ltd.”[2003] 259 ITR 77; Punjab and Haryana High Court in the case of “Ram Nath Jindal and Jagjiwan Ram v. CIT” [2001] 252 ITR 590; Kolkata Bench of ITAT in “Bhagwati Sponge (P.) Ltd. v. DCIT” [2016] 72 taxmann.com 40 ; “Dilip Kumar Roy v. DCIT” [2011] 11 taxmann.com 107…

M/S Fastway Transmission (P) Ltd., Chandigarh vs. ACIT, Chandigarh

In the result the captioned appeals of the assessee are

ITA 547/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh28 Apr 2020AY 2013-14

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Chandrajit Singh, CIT (DR) on 4.12.2019
Section 250(6)

…s been held to be mandatory and prospectively applicable w.e.f. 01.04.2002 through various judicial pronouncements. Reliance in this respect can be placed on the decisions of Kerala High Court in the case of “CIT v. Kerala Electric Lamp Works Ltd.” [2003] 261 ITR 721; Madras High Court in the case of “CIT v. Sree Senhavalli Textiles (P.) Ltd.”[2003] 259 ITR 77; Punjab and Haryana High Court in the case of “Ram Nath Jindal and Jagjiwan Ram v. CIT” [2001] 252 ITR 590; Kolkata Bench of ITAT in “Bhagwati Sponge (P.) Ltd. v. DCIT” [2016] 72 taxmann.com 40 ; “Dilip Kumar Roy v. DCIT” [2011] 11 taxmann.com 107…

Deputy Commissioner of Income-Tax vs. Futura Bioplants Pvt. Ltd., Pune

In the result, the cross objection filed by the assessee is partly

ITA 1271/PUN/2015[2011-12]Status: DisposedITAT Pune17 Jan 2018AY 2011-12

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील आयकर अपील संसंसंसं. / Ita No. 1271/Pun/2015 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2011-12 वष"

For Appellant: Shri R.R. Vora & Shri Rajendra AgiwalFor Respondent: Shri Ajay Modi, JCIT
Section 10(1)Section 2

…s order : 1. R & B Falcon (A) Pty. Ltd. Vs. CIT 301 ITR 309 (SC) 2. ACIT Vs. Rogini Garments 294 ITR 15 (AT (Chn) (SB) 3. K.P. Verghese Vs. ITO 131 ITR 597 (SC) 4. Cocoa Cola India Inc. Vs. ACIT 309 ITR 194 (P&H HC) 5. CIT Vs. Kerala Electric Lamp Works Ltd. 261 ITR 721 (Ker. HC) 6. Eventually, the CIT(A) held that the income earned by the assessee on sale of saplings constitute deemed agricultural income of the assessee vide Explanation 3 to section 2(1A) of the Act. 7. Aggrieved with the above decision of CIT(A) the Revenue is in appeal before us with the grounds extracted above. 8. Ld. DR for the Revenue r…

Plastiblends India Limited Through Its Chairman and Managing Director vs. Addl.Commissioner of Income Tax Range 8(2) Mumbai

C.A. No.-000238-000238 - 2012Supreme Court09 Oct 2017

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

Section 143(1)(a)Section 32Section 80

…that depreciation had to be reduced for computing the profits eligible for deduction under Section 80-IA of the Act, as it was a complete code in itself. For arriving at the said conclusion, the Full Bench took note of the relevant provisions of 12 (2003) 261 ITR 721 13 (2003) 259 ITR 77 14 (2001) 252 ITR 590 14 Chapter VI-A, particularly, Section 80A, Section 80AB and Section 80B as well as Section 80-IA of the Act. Contrasting the provisions of Chapter VI-A with Chapter IV, the High Court remarked that whereas Chapter IV contains provision relating to the computation of total income under various…

Godrej & Boyce Mfg Co. Ltd, Mumbai vs. Addl CIT RG 10(2), Mumbai

The appeals of the AO is dismissed

ITA 8488/MUM/2011[2008-09]Status: DisposedITAT Mumbai23 Aug 2016AY 2008-09
For Appellant: Shri Nitesh Josh (AR)For Respondent: S/Shri A.G. Bhatkar-(CIT-DR) and K.V. Vispute- (DR)
Section 254(1)Section 43(6)

…ny. 19. Now coming to some important decisions relied upon by the Ld. counsel for the assessee as mentioned herein below: 1. CIT vs. Triveni Engineering & Industries Ltd. and Others (DOD:05.08.2010) (Delhi – HC); 2. CIT vs. Kerala Electric Lamp Workers Ltd. – 261 ITR 721 (Kerla – HC); 3. SEDCO Forex International Drill INC and Others – 279 ITR 310 (SC) ; 4. DCIT vs. Core Health Care Ltd. – 298 ITR 194 (SC); 5. CIT vs. Sree Senha Valli Textiles P. Ltd. – 259 ITR 77 (Mad. – HC); 6. CIT vs. Vatika Township Pvt. Ltd. and others – Civil appeal No.8750 of 2014 decided on September 5, 2014. 20.We have perused the afo…

Addl CIT Cen Cir IX, Mumbai vs. Prism Cement Ltd, Mumbai

Appeals are disposed of in terms

ITA 8503/MUM/2010[2007-08]Status: DisposedITAT Mumbai16 May 2016AY 2007-08

Bench: Shri Joginder Singh & Shri Rajendra

Section 143(3)Section 147Section 35E

…value could not be considered to work out the depreciation of the current year. The Hon’ble Madras High Court in CIT vs Sree Senhavalli Textiles (P.) Ltd. (2003) 253 ITR 77 (Mad.), Hon’ble Kerala High Court in CIT vs Kerala Electric Lamp Works Ltd. (2003) 261 ITR 721 (Ker.), the Hon’ble J & K. High Court in CIT vs Agya Wanti 248 ITR 641 (J & K). It is noted that the Department has relied upon the decision in K. K. Doshi (245 ITR 849)(Bom.), which has been reversed by Hon’ble Apex Court in (2008) 297 ITR 38(SC), wherein, the main point was that as to whether the amendment to section 80HHC of the Income Tax…

ACIT Cen Cir Cir-34, Mumbai vs. Prism Cement Ltd, Mumbai

Appeals are disposed of in terms

ITA 3859/MUM/2010[2006-07]Status: DisposedITAT Mumbai16 May 2016AY 2006-07

Bench: Shri Joginder Singh & Shri Rajendra

Section 143(3)Section 147Section 35E

…value could not be considered to work out the depreciation of the current year. The Hon’ble Madras High Court in CIT vs Sree Senhavalli Textiles (P.) Ltd. (2003) 253 ITR 77 (Mad.), Hon’ble Kerala High Court in CIT vs Kerala Electric Lamp Works Ltd. (2003) 261 ITR 721 (Ker.), the Hon’ble J & K. High Court in CIT vs Agya Wanti 248 ITR 641 (J & K). It is noted that the Department has relied upon the decision in K. K. Doshi (245 ITR 849)(Bom.), which has been reversed by Hon’ble Apex Court in (2008) 297 ITR 38(SC), wherein, the main point was that as to whether the amendment to section 80HHC of the Income Tax…

DCIT Cen Cir 34, Mumbai vs. Prism Cement Ltd, Mumbai

Appeals are disposed of in terms

ITA 5751/MUM/2009[2005-06]Status: DisposedITAT Mumbai16 May 2016AY 2005-06

Bench: Shri Joginder Singh & Shri Rajendra

Section 143(3)Section 147Section 35E

…value could not be considered to work out the depreciation of the current year. The Hon’ble Madras High Court in CIT vs Sree Senhavalli Textiles (P.) Ltd. (2003) 253 ITR 77 (Mad.), Hon’ble Kerala High Court in CIT vs Kerala Electric Lamp Works Ltd. (2003) 261 ITR 721 (Ker.), the Hon’ble J & K. High Court in CIT vs Agya Wanti 248 ITR 641 (J & K). It is noted that the Department has relied upon the decision in K. K. Doshi (245 ITR 849)(Bom.), which has been reversed by Hon’ble Apex Court in (2008) 297 ITR 38(SC), wherein, the main point was that as to whether the amendment to section 80HHC of the Income Tax…

M/S. Indian Seamless Steels & Alloys Ltd vs. The Jt CIT S.R.19

In the result, Revenue’s appeal is dismissed

ITA 2214/MUM/2005[1998-1999]Status: DisposedITAT Mumbai29 Apr 2016AY 1998-1999

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

Section 28Section 29Section 30Section 32Section 32(1)Section 43D

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA no.2214/Mum./2005 (Assessment Year : 1998–99) M/s. Indian Seamless Steels & Alloys Ltd. 103, Madhav Building, Bandra Kurla ……………. Appellant Complex, Bandra (E), Mumbai 400 051 PAN – AAACI6599P v/s Jt. Commissioner of Income Tax Special Range–19, Aayakar Bhawan ……………. Respondent 101, M.K. Road, Mumbai 400 020 ITA no.2215/Mum./2005 (Assessment Year : 1999–2000) M/s. Indian Seamless Steels & Alloys Ltd. (Now known as ISMT Limited) Lunkad Towers, Viman Nagar ……………. Appellan…