CIT v. Madras Motors Ltd.

257 ITR 60High Court2002#2365 most cited

What is CIT v. Madras Motors Ltd. authority for?

Interest received on delayed payments from trade debtors for sale consideration is considered income derived from the business of an industrial undertaking. This income is eligible for deduction under relevant provisions like Section 80IB or 80IE.

49

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2007 to 2025.

Also referred to as

CIT v. Madras Motors Ltd. · 257 ITR 60 · Section 80IB · Section 80IE · interest on delayed payment · trade debtors interest · income derived from business · industrial undertaking deduction · sale consideration interest · business profits deduction

Sections most often in play

Section 250Section 10ASection 139(1)Section 143(3)Section 147Section 148Section 194ASection 194H

Issues it is cited on

convertible foreign exchangesection 2(28a)section 133a(2a)section 80hsection 80hhsection 80hhcsection 194hinterest under section 201(1a)interest on securitiessection 80ibsection 57section 194a

Judgments citing CIT v. Madras Motors Ltd.

M/S Vodafone East Limited (Formerly Known As Vodafone Essar East Limited), Kolkata vs. ACIT, Cir-7, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 431/KOL/2012[2008-2009]Status: DisposedITAT Kolkata15 Dec 2017AY 2008-2009

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

M/S. Vodafone Essar East Limited, Kolkata vs. ACIT, Circle - 7, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 673/KOL/2011[2007-08]Status: DisposedITAT Kolkata15 Dec 2017AY 2007-08

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

M/S. Vodafone Essar East Limited, Kolkata vs. ACIT, Circle - 7, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 485/KOL/2010[2006-07]Status: DisposedITAT Kolkata15 Dec 2017AY 2006-07

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

DCIT, Circle - 7, Kolkata vs. Vodafone Essar East Limited, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 482/KOL/2010[2006-07]Status: DisposedITAT Kolkata15 Dec 2017AY 2006-07

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

ACIT, Circle - 7, Kolkata vs. Vodafone Essar East Ltd., Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 377/KOL/2009[2005-06]Status: DisposedITAT Kolkata15 Dec 2017AY 2005-06

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

M/S. Vodafone Essar East Ltd., Kolkata vs. Addl. CIT, Range - 7, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 357/KOL/2009[2005-06]Status: DisposedITAT Kolkata15 Dec 2017AY 2005-06

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

M/S. Vodafone Essar East Ltd., Kolkata vs. JCIT, Range - 7, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 356/KOL/2009[2004-05]Status: DisposedITAT Kolkata15 Dec 2017AY 2004-05

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

ACIT, Circle - 7, Kolkata vs. Hutchison Telecom East Limited, Kolkata

343/K/2009 04-05 Revenue dismissed

ITA 343/KOL/2009[2004-05]Status: DisposedITAT Kolkata15 Dec 2017AY 2004-05

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…ges were received in the course of the business and therefore eligible for deduction under section 80-IA of the Act. The assessee in support of his claim has also relied on the judgment of Madras High Court in the case of CIT Vs Madras Motors Ltd. reported in 257 ITR 60 (Mad). As regards the cell site sharing revenue, It was submitted that the activity of cell site sharing reduces the cost and the amount is received from other telecom operators in the course of business. Therefore the same is eligible for deduction u/s 80IA of the Act. In respect of other receipts It was claimed that they are inextricably linked…

The DCIT, Circle-10, Ahmedabad vs. Shri Devraj R.Agarwal, Ahmedabad

In the result, the appeal of the revenue is dismissed

ITA 954/AHD/2013[2001-02]Status: DisposedITAT Ahmedabad11 Oct 2017AY 2001-02

Bench: Passing The Penalty Order.

For Appellant: NoneFor Respondent: Shri Prasoon Kabra, Sr. D.R
Section 143(2)Section 271(1)(c)Section 80H

…nsequently made an addition of Rs. 52,67,540/- and imposed penalty thereupon. The view held by the A O in quantum proceedings was not endorsed by my Id predecessor, who relying upon the decision of hon'ble Madras High Court in the case of CIT vs Madras Motors 257 ITR 60 deleted the addition made by the A O. In appeal, hon'ble jurisdictional tribunal reversed the findings of my Id predecessor, following their own decision in appellants case for A Y 2000-01. While doing so, hon'ble tribunal is of the view that decision of Special Bench in the case of International Research Laboratories Ltd and of hon'ble Kerala Hig…

ACIT, Chennai vs. M/S. Sterlite Industries (India) Ltd., Tuticorin

ITA 1665/CHNY/2010[2006-07]Status: DisposedITAT Chennai29 Mar 2017AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./ITA No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./ITA No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07 The Assistant Commissioner of M/s Sterlite Industries (India) Ltd., Income Tax, v. 1, Sai Flats, 55, Pillaiyar Koil St., Compan…

M/S. Sterlite Industries (India) Ltd., Madurai vs. Additional CIT, Chennai

ITA 1386/CHNY/2010[2006-2007]Status: DisposedITAT Chennai29 Mar 2017AY 2006-2007

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./ITA No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./ITA No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07 The Assistant Commissioner of M/s Sterlite Industries (India) Ltd., Income Tax, v. 1, Sai Flats, 55, Pillaiyar Koil St., Compan…

ACIT, Chennai vs. M/S. Sterlite Industries (India) Ltd., Tuticorin

ITA 1020/CHNY/2010[2005-06]Status: DisposedITAT Chennai29 Mar 2017AY 2005-06

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./ITA No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./ITA No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07 The Assistant Commissioner of M/s Sterlite Industries (India) Ltd., Income Tax, v. 1, Sai Flats, 55, Pillaiyar Koil St., Compan…

M/S Sterlite Industries (India) Ltd., Tuticorin vs. DCIT, Chennai

ITA 86/CHNY/2008[2004-05]Status: DisposedITAT Chennai29 Mar 2017AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./ITA No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./ITA No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07 The Assistant Commissioner of M/s Sterlite Industries (India) Ltd., Income Tax, v. 1, Sai Flats, 55, Pillaiyar Koil St., Compan…

ACIT, Chennai vs. M/S Sterlite Industries (India) Ltd., Tuticorin

ITA 319/CHNY/2008[2004-05]Status: DisposedITAT Chennai29 Mar 2017AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./ITA No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./ITA No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07 The Assistant Commissioner of M/s Sterlite Industries (India) Ltd., Income Tax, v. 1, Sai Flats, 55, Pillaiyar Koil St., Compan…

ACIT, Chennai vs. M/S Sterlite Industries (India) Ltd., Chennai

ITA 318/CHNY/2008[2004-05]Status: DisposedITAT Chennai29 Mar 2017AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./ITA No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./ITA No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07 The Assistant Commissioner of M/s Sterlite Industries (India) Ltd., Income Tax, v. 1, Sai Flats, 55, Pillaiyar Koil St., Compan…

Rollatainers Ltd vs. Commissioner of Income Tax

The appeal is partly allowed in respect of

ITA/166/2004HC Delhi16 Feb 2017

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

Section 260ASection 80H

…mputed under Explanation (baa). Against this order of the CIT(A), both the assessee and the Revenue preferred appeals before the ITAT. 7. Before the ITAT, the assessee placed reliance on the decision of the Madras High Court in CIT v. Madras Motors Ltd., 257 ITR 60, where it was held that while computing profits under Section 80HHC, the turnover of exports should be taken and not the total turnover. The ITAT, however, rejected the assessee’s contention and placed reliance on the Tribunal’s ITA 166/2004 Page 6 of 23 decision in the case of International Park Research Laboratory v. CIT, 50 ITD 37…

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…p Limited Vs. JCIT & DCIT Vs. Hero MotoCorp Ltd. ITA Nos. 1545/Del/2015 and 2424/Del/2015 (AY 2010-11) ITA No. 1609/Del/2016 and 914/Del/2016 (AY 2011-12) Page 323 of 484 (vi) Nirma Industries Ltd. v. DCIT: 283 ITR 402 (Guj.) (vii) CIT v. Madras Motors Ltd.: 257 ITR 60 (Mad.) (viii) CIT v. Indo Matsushita Carbon Co. Ltd.: 286 ITR 201 (Mad.) (ix) Phatela Cotgin Industries (P) Ltd. v. CIT: 303 ITR 411 (P&H) (x) CIT v Jindal Polyester And Steel Ltd: 221 Taxman 30 (Allahabad) (xi) ACIT v Sun N Sand Hotels (P.) Ltd: 67 SOT 331 (MumTrib.)(URO) i) The ratio emanating from the aforesaid decisions, in our respectful sub…

M/S A.P. Processors, Delhi vs. ITO, New Delhi

In the result, ITA No.4345/Del/2015 of the assessee is partly allowed for

ITA 4346/DEL/2015[2010-11]Status: DisposedITAT Delhi21 Oct 2016AY 2010-11

Bench: Smt Diva Singh

Section 32(1)(iia)

…Vallabh Yams (P) Ltd. (2011) 51 DTR (P&H) 236; (iii) CIT vs. Impel Forge & I.T.A .No.-4345 & 4346/Del/2015 (A.P.PROCESSORS VS ITO) Page 3 of 7 Allied Industries Ltd. (2010) 326 ITR 27 (P&H); (iv) CIT vs. Rane (Madras) Ltd. (1998) 148 CTR (Mad) 404 : (1999) 238 ITR 377 (Mad) and (v) Dy, CIT vs. Harjivandas Juthabhai Zaveri & Anr. (2002) 258 ITR 785 (Guj.) strengthens our aforesaid view. In view of the above detailed discussions and precedents, we hold that assessee is a manufacturer and eligible for deduction u/s 32(1)(iia) of the Act and so we allow the additional depreciation @20% on Rs. 49,83,575/- which com…

M/S A.P. Processors, Delhi vs. ITO, New Delhi

In the result, ITA No.4345/Del/2015 of the assessee is partly allowed for

ITA 4345/DEL/2015[2009-10]Status: DisposedITAT Delhi21 Oct 2016AY 2009-10

Bench: Smt Diva Singh

Section 32(1)(iia)

…Vallabh Yams (P) Ltd. (2011) 51 DTR (P&H) 236; (iii) CIT vs. Impel Forge & I.T.A .No.-4345 & 4346/Del/2015 (A.P.PROCESSORS VS ITO) Page 3 of 7 Allied Industries Ltd. (2010) 326 ITR 27 (P&H); (iv) CIT vs. Rane (Madras) Ltd. (1998) 148 CTR (Mad) 404 : (1999) 238 ITR 377 (Mad) and (v) Dy, CIT vs. Harjivandas Juthabhai Zaveri & Anr. (2002) 258 ITR 785 (Guj.) strengthens our aforesaid view. In view of the above detailed discussions and precedents, we hold that assessee is a manufacturer and eligible for deduction u/s 32(1)(iia) of the Act and so we allow the additional depreciation @20% on Rs. 49,83,575/- which com…

Vinati Oprganics Ltd, Mumbai vs. Addl CIT 8(3), Mumbai

In the result, assessee’s appeal stands partly allowed for the statistical purpose and that of the revenue stands dismissed

ITA 7177/MUM/2014[2011-12]Status: DisposedITAT Mumbai22 Sept 2016AY 2011-12

Bench: Shri Rajendra & Shri Amit Shukla

Section 1Section 10BSection 143(3)Section 14ASection 1OSection 40

…t the scrap sale of Rs.31,87,998/- is not eligible for claiming deduction under section 10B and in support, he relied upon the following decisions:- 13 वन"त ओग"नी"स "ल"मटेड Vanati Oprganics Ltd ITA 7177/Mum/2014 ITA 7776/Mum/2014 a. CIT v. Madras Motors Ltd. 257 ITR 60; b. CIT Vs. Ashok Leyland Ltd., 297 IIR 107 (Mad); and c. Sajjan India Ltd., Mumbai vs Assessee in ITA Nos. 6727 and 6728 and 7091 7092 dt. 10 August, 2012. 14. This has been confirmed by Ld. CIT(A) on the ground that, sale of the scrap in the local market has nothing to do with the export. 15. Before us, it has been submitted by the ld. Coun…