CIT v. Mewar Oil and General Mills Ltd. (No. 1)

271 ITR 311High Court2004#4832 most cited

What is CIT v. Mewar Oil and General Mills Ltd. (No. 1) authority for?

Income from a new industrial undertaking cannot be recomputed by setting off carry forward unabsorbed depreciation or depreciation allowance from previous years if there were no carry forward losses from the prior year to be set off against the current year's income.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Mewar Oil and General Mills Ltd. · section 80-I · section 80-IA · unabsorbed depreciation · carry forward losses · recomputation of income · industrial undertaking

Sections most often in play

Section 35DSection 40(a)(i)Section 80HHCSection 35(2AB)Section 28(iiid)Section 35Section 45Section 54EC

Issues it is cited on

section 80ia(5)section 10(15)initial assessment yearsection 35dsection 31eligible businessunabsorbed depreciationsection 80iaenduring benefitput to usesection 80igross total income

Judgments citing CIT v. Mewar Oil and General Mills Ltd. (No. 1)

M/S. Neyveli Lignite Corporationlimited, Neyveli vs. ACIT, Chennai

In the result, the Revenue’s appeals in ITA Nos

ITA 177/CHNY/2009[2001-02]Status: DisposedITAT Chennai26 Jun 2015AY 2001-02

Bench: Shri N.R.S. Ganesan & Shri Chandra Poojari] आयकर अपील सं./I.T.A.Nos. 374/2004, 529/2006 & 222/2009 "नधा"रण वष" /Assessment Years : 2001-02, 2002-03 & 2000-01. The Assistant Commissioner Vs. M/S. Neyveli Lignite Of Income Tax, Corporation Ltd, Company Circle Iv(4), Neyveli 607 801. Chennai

For Respondent: Shri. E.S. Nagendra Prasad
Section 31Section 37

…et off against the profit of the eligible business as no such mandate is provided in S. 80-IA(5) – CIT vs. TTK Pharma Ltd (Tax Case (Appeal ) No.298 of 2004, dt. 23rd Dec., 2009) Followed; CIT vs. Mewar Oil & General Mills Ltd (2004) 186 CTR (Raj) 141; (2004) 271 ITR 311 (Raj) concurred with; Mohan Breweries & Distilleries Ltd vs. Asst. CIT (2008) 114 TTJ (Chennai) 532: (2008) 3 DTR (Chennai) (Trib) 477 affirmed’’. Being so, we are inclined to dismiss the appeal of the Revenue as the first year of claim of assessee was assessment year 1999-2000 and 80IA(2) permits the assessee to claim deduction for any ten yea…

ACIT, Chennai vs. M/S. Neyveli Lignite Corporation Limited, Neyveli

In the result, the Revenue’s appeals in ITA Nos

ITA 529/CHNY/2006[2002-03]Status: DisposedITAT Chennai26 Jun 2015AY 2002-03

Bench: Shri N.R.S. Ganesan & Shri Chandra Poojari] आयकर अपील सं./I.T.A.Nos. 374/2004, 529/2006 & 222/2009 "नधा"रण वष" /Assessment Years : 2001-02, 2002-03 & 2000-01. The Assistant Commissioner Vs. M/S. Neyveli Lignite Of Income Tax, Corporation Ltd, Company Circle Iv(4), Neyveli 607 801. Chennai

For Respondent: Shri. E.S. Nagendra Prasad
Section 31Section 37

…et off against the profit of the eligible business as no such mandate is provided in S. 80-IA(5) – CIT vs. TTK Pharma Ltd (Tax Case (Appeal ) No.298 of 2004, dt. 23rd Dec., 2009) Followed; CIT vs. Mewar Oil & General Mills Ltd (2004) 186 CTR (Raj) 141; (2004) 271 ITR 311 (Raj) concurred with; Mohan Breweries & Distilleries Ltd vs. Asst. CIT (2008) 114 TTJ (Chennai) 532: (2008) 3 DTR (Chennai) (Trib) 477 affirmed’’. Being so, we are inclined to dismiss the appeal of the Revenue as the first year of claim of assessee was assessment year 1999-2000 and 80IA(2) permits the assessee to claim deduction for any ten yea…

M/S. Neyveli Lignite Corporation Limited, Neyveli vs. ITO, Cuddalore

In the result, the Revenue’s appeals in ITA Nos

ITA 782/CHNY/2005[-]Status: DisposedITAT Chennai26 Jun 2015

Bench: Shri N.R.S. Ganesan & Shri Chandra Poojari] आयकर अपील सं./I.T.A.Nos. 374/2004, 529/2006 & 222/2009 "नधा"रण वष" /Assessment Years : 2001-02, 2002-03 & 2000-01. The Assistant Commissioner Vs. M/S. Neyveli Lignite Of Income Tax, Corporation Ltd, Company Circle Iv(4), Neyveli 607 801. Chennai

For Respondent: Shri. E.S. Nagendra Prasad
Section 31Section 37

…et off against the profit of the eligible business as no such mandate is provided in S. 80-IA(5) – CIT vs. TTK Pharma Ltd (Tax Case (Appeal ) No.298 of 2004, dt. 23rd Dec., 2009) Followed; CIT vs. Mewar Oil & General Mills Ltd (2004) 186 CTR (Raj) 141; (2004) 271 ITR 311 (Raj) concurred with; Mohan Breweries & Distilleries Ltd vs. Asst. CIT (2008) 114 TTJ (Chennai) 532: (2008) 3 DTR (Chennai) (Trib) 477 affirmed’’. Being so, we are inclined to dismiss the appeal of the Revenue as the first year of claim of assessee was assessment year 1999-2000 and 80IA(2) permits the assessee to claim deduction for any ten yea…

ACIT, Chennai vs. M/S. Neyveli Lignite Corporation Limited, Neyveli

In the result, the Revenue’s appeals in ITA Nos

ITA 374/CHNY/2004[2001-02]Status: DisposedITAT Chennai26 Jun 2015AY 2001-02

Bench: Shri N.R.S. Ganesan & Shri Chandra Poojari] आयकर अपील सं./I.T.A.Nos. 374/2004, 529/2006 & 222/2009 "नधा"रण वष" /Assessment Years : 2001-02, 2002-03 & 2000-01. The Assistant Commissioner Vs. M/S. Neyveli Lignite Of Income Tax, Corporation Ltd, Company Circle Iv(4), Neyveli 607 801. Chennai

For Respondent: Shri. E.S. Nagendra Prasad
Section 31Section 37

…et off against the profit of the eligible business as no such mandate is provided in S. 80-IA(5) – CIT vs. TTK Pharma Ltd (Tax Case (Appeal ) No.298 of 2004, dt. 23rd Dec., 2009) Followed; CIT vs. Mewar Oil & General Mills Ltd (2004) 186 CTR (Raj) 141; (2004) 271 ITR 311 (Raj) concurred with; Mohan Breweries & Distilleries Ltd vs. Asst. CIT (2008) 114 TTJ (Chennai) 532: (2008) 3 DTR (Chennai) (Trib) 477 affirmed’’. Being so, we are inclined to dismiss the appeal of the Revenue as the first year of claim of assessee was assessment year 1999-2000 and 80IA(2) permits the assessee to claim deduction for any ten yea…