How many judgments cite CIT v. Oswal Agro Mills Ltd.?

108 judgments on BharatTax cite CIT v. Oswal Agro Mills Ltd. (341 ITR 467), spanning 2012 to 2026.

Which sections of the Income Tax Act does CIT v. Oswal Agro Mills Ltd. come up under?

It is most often cited in judgments turning on Section 37(1), Section 41(1), Section 80IA, Section 147, Section 22, Section 23.

CIT v. Oswal Agro Mills Ltd.

341 ITR 467High Court2012#1003 most cited

What is CIT v. Oswal Agro Mills Ltd. authority for?

The Legislature abolished terminal depreciation under section 32(1)(iii) and the taxing of balancing charge under section 41(2), replacing these provisions with the requirement to reduce sale proceeds of depreciable assets from the block of assets.

108

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v Oswal Agro Mills Ltd · section 32(1) · section 41(2) · block of assets · terminal depreciation · balancing charge · depreciable asset sale proceeds · legislative amendment depreciation · abolition individual asset depreciation

Also reported as

238 CTR 113

Sections most often in play

Section 37(1)Section 41(1)Section 80IA Section 147 Section 22 Section 23 Section 32(1)Section 43(5)

Issues it is cited on

section 41(2)ready for use section 43(6)(c)section 41(1)(a)remission or cessation of liability section 43(6)section 2(11)opening wdv section 65b(4)block of assets speculation loss section 73

Judgments citing CIT v. Oswal Agro Mills Ltd.

DCIT, New Delhi vs. M/S. Jagson International Ltd., New Delhi

In the result, ITA.No.276/Del

ITA 1001/DEL/2016[2012-13]Status: DisposedITAT Delhi31 Jan 2022AY 2012-13

Bench: Shri R.K. Panda & Shri Narendra Kumar Choudhary

For Appellant: Shri Rahul PrabhakarFor Respondent: Shri P.C. Maurya, CIT

Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “D” : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI NARENDRA KUMAR CHOUDHARY, JUDICIAL MEMBER ITA Nos.1001 & 1002/Del./2016 Assessment Years 2012-13 & 2013-14 The Dy. CIT, M/s. Jagson International Circle–13 (1), Ltd., 3rd Floor, Vandana Room No. 316-A, vs., Building, Tolstoy Marg, C.R. Building, New Delhi – 110 001. New Delhi. PAN AAACJ2147A (Appellant) (Respondent) ITA No.276/Del./2017 Assessment Year 2014-15 The Dy. CIT, M/s. Jagson International Circle–13 (1), Ltd., 3rd Floor, Vandana Room No. 316-A, vs., Building, Tolstoy Marg, C.R. Building,…

Shree Rama Multi-Tech Ltd., Ahmedabad vs. The ACIT(OSD) Circle-8, Ahmedabad

In the result, appeal of the assessee is partly allowed

ITA 1345/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad28 Jan 2022AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

Section 143Section 143(3)Section 145ASection 147Section 148Section 43BSection 80I

…ions of section 32 of the Act. In holding so we draw support and ITA Nos.722,218&1306/Ahd/2014 & ITA No. 1345/Ahd/2015 A.Ys. 2000-01&2007-08 to 2009-10 26 guidance from the Judgment of Hon’ble Delhi High Court in the case of Oawal Agro Mills Ltd. reported in 341 ITR 467, wherein it was held as under: “By catena of judgments, it stands settled that the assessee should have used the asset for the whole of assessment year in question to claim full depreciation. Passive user of the asset is also recognized as 'user for purpose of business'. This passive user is interpreted to mean that the asset is kept ready for u…

Shree Rama Multi-Tech Ltd., Ahmedabad vs. The Dy.CIT., Crcle-8, Ahmedabad

In the result, appeal of the assessee is partly allowed

ITA 722/AHD/2014[2000-01]Status: DisposedITAT Ahmedabad28 Jan 2022AY 2000-01

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

Section 143Section 143(3)Section 145ASection 147Section 148Section 43BSection 80I

Indus League Clothing Ltd, Bengaluru vs. Assistant Commissioner of Income Tax, Circle-11(4), Bengaluru

In the result, assessee’s appeal is partly allowed

ITA 82/BANG/2018[2006-2007]Status: DisposedITAT Bangalore17 Nov 2021AY 2006-2007

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2006-07

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)

Section 43(1)

…any asset falling in the block of asset is used for other business purposes proportionate disallowances of depreciation is not warranted. This is contrary to the positions of section 32 as has been held in the Delhi High Court in CIT v. Oswal Agro Mills Ltd (341 ITR 467). Reliance is also placed on the following rulings: a. CIT v. Bharat Aluminium Co. Ltd. (187 taxman 111) (p. , para 31-32 of the case law compilation volume 2); b. CIT v. Sonal Gum Industries (322 ITR 542) (p.197, para 5 of the case law compilation volume 2); c. E-City Entertainment (India) (P.) Ltd. v. ACIT (39 taxmann.com 120); (p.208-211 , par…

Addl. CIT, Special Range- 9, New Delhi vs. The Fertilizer Corporation of India Ltd., Noida

The appeal of the Revenue is dismissed

ITA 2016/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2021AY 2014-15

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A. No. 2016/DEL/2018 (A.Y 2014-15) (THROUGH VIDEO CONFERENCING) Addl. CIT Vs The fertilizer Corporation of Special Range-9 India Ltd. C. R. Building, PDIL Bhawan (5th Floor), A- New Delhi 14, Sector-1 Noida, Uttar Pradesh AAACF1661P (APPELLANT) (RESPONDENT) Appellant by None Respondent by Dr. Mahinder Kaur, Sr. DR Date of Hearing 06.09.2021 Date of Pronouncement 06.09.2021 ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the Revenue against…

Pawan Hans Helicopters Ltd vs. DCIT, Special Range-27

In the result, both the appeals of the assessee are allowed

ITA 319/DEL/2001[1995-1996]Status: DisposedITAT Delhi14 Jul 2021AY 1995-1996

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 419/Del/1994 : Asstt. Year: 1990-91 M/S Pawan Hans Helicopters Ltd., Vs Dcit, Corporate Office, Safdarjung Special Range-20, Airport, New Delhi New Delhi (Appellantt (Respondent) Pan No. Aaacp1561A Ita No. 319/Del/2001 : Asstt. Year: 1995-96 M/S Pawan Hans Helicopters Ltd., Vs Dcit, Corporate Office, Safdarjung Special Range-27, Airport, New Delhi New Delhi (Appellantt (Respondent) Pan No. Aaacp1561A

For Appellant: Sh. Ved Jain, AdvFor Respondent: Ms. Pramita M. Biswas, CIT DR

…part of block of assets even if said assets had ITA No. 419/Del/1994 & 9 Pawan Hans Helicopters Ltd. not been put to use during relevant assessment year and had been sold prior to end of accounting year. Similarly, in the case of CIT vs Oswal Agro Mills Ltd. 341 ITR 467 (Del.) held that as per amended Section 32, deduction is to be allowed in the case of any block of assets, such percentage on the WDV thereof as may be prescribed as per Circular No. 469, dated 23.09.1986 thus it is difficult to accept the submission of the Revenue that for allowing the depreciation, user of each and every asset is essential even…

Encorp E-Service Ltd., New Delhi vs. ACIT, New Delhi

ITA 1883/DEL/2013[2008-09]Status: DisposedITAT Delhi23 Jun 2021AY 2008-09

Bench: Shri Sudhanshu Srivastava & Sh. Prashant Maharishi

Section 143Section 143(3)Section 271(1)(c)Section 41(1)

…and 2007 – 08 wherein in paragraph number 23 the coordinate bench has dealt with this issue and in paragraph number 30 – 31 allowed the claim of the assessee following the decision of the honourable jurisdictional High Court in CIT versus Oswal Agro Mills Ltd 341 ITR 467. Therefore respectfully following the decision of the coordinate bench in assessee‟s own case we also direct the learned assessing officer to allow the depreciation of ₹ 89,311/– on assets in the premises sealed by the government of India due to ban on lottery business. Accordingly, ground number 2 of the appeal of the assessee is allowed. 9. Wit…

Encorp E-Service Ltd., New Delhi vs. ACIT, New Delhi

ITA 1882/DEL/2013[2009-10]Status: DisposedITAT Delhi23 Jun 2021AY 2009-10

Bench: Shri Sudhanshu Srivastava & Sh. Prashant Maharishi

Section 143Section 143(3)Section 271(1)(c)Section 41(1)

M/S Mantri Developers Pvt Ltd, Bangalore vs. The Deputy Commissioner of Income Tax Circle-4(1)(2), Bangalore

In the result, this appeal of the assessee is allowed in the terms indicated above

ITA 525/BANG/2018[2014-15]Status: DisposedITAT Bangalore27 Oct 2020AY 2014-15

Bench: Shri A. K. Garodia & Smt. Beena Pillaiassessment Year : 2014 – 15 M/S Mantri Developers Private Limited, #41, Mantri House, Dcit Circle – 4 (1) (2), Vittal Malya Road, Vs. Bengaluru Bangalore – 560001 Pan : Aaacg4009N Appellant Respondent Assessee By : Shree V. Srinivasan, Advocate Revenue By : Shree Muzaffar Hussain, Cit Dr Date Of Hearing : 09.09.2020 Date Of Pronouncement : 27.10.2020 O R D E R Per Arun Kumar Garodia, A. M.: This Appeal Is Filed By The Assessee & The Same Is Directed Against The Order Of Learned Cit (A) – 4 Bengaluru Dated 30.11.2017. 2. The Grounds Raised By The Assessee Are As Under:-

For Appellant: Shree V. Srinivasan, AdvocateFor Respondent: Shree Muzaffar Hussain, CIT DR

Section 234Section 36

…dition. In this regard, he placed reliance on the following judgments, copy available in case Law Paper Book. (a) CIT vs. Chamundeswari Sugar Limited, 309 ITR 326 (kar.), (b) CIT vs. E. I. H. Ltd., 54 DTR 249 (Cal.), (c) CIT vs. Oswal Agro Mills Pvt. Ltd., 341 ITR 467 (Del.), (d) CIT vs. Premier Industries (India) Ltd., 323 ITR 672 (M. P.) Page 4 of 15 4. At this juncture, this was a query of the bench as to when the building was let out. In reply, it was submitted by the learned AR of the assessee that the building in question was let out as per Lease Deed dated 31.01.2013, copy available on pages 92 to 169…

DCIT, New Delhi vs. M/S. Ebony Retail Holdings Ltd., New Delhi

In the result, appeal of the Revenue dismissed

ITA 2825/DEL/2014[2008-09]Status: DisposedITAT Delhi20 Aug 2020AY 2008-09

Bench: Shri Bhavnesh Saini & Shri B.R.R. Kumar

For Appellant: Shri S. Krishnan, AdvocateFor Respondent: Shri Jagdish Singh, Sr. D.R

Section 37(1)

…Del./2014 M/s. Ebony Retail Holdings Ltd., New Delhi. contended that if the claim of capital loss is not allowed, claim for depreciation may be allowed for the year and relied upon Judgment of the Hon’ble Delhi High Court in the case of Oswal Agro Mills Ltd., 341 ITR 467. Ld. CIT(A) following the above decision directed the A.O. to allow claim of depreciation of block of assets which were not used for the purpose of business, after verifying the various evidences filed during the course of proceedings. 6.3. The Ld. D.R. submitted that no depreciation is allowable to the assessee. 6.4. On the other hand, Learned…

Sahayak Engineering Private Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-3(1), Hyderabad

In the result, assessee’s appeal is allowed

ITA 1874/HYD/2018[2015-16]Status: DisposedITAT Hyderabad11 Jun 2020AY 2015-16

Bench: Smt. P. Madhavi Deviassessment Year: 2015-16

For Appellant: Sri A. SrinivasFor Respondent: Sri Sandeep Kumar Mehta, DR

Section 143(3)Section 32

…on Limited 358 ITR 314 held that if the machinery is ready for use but has not been actually used, still then assessee would be eligible for depreciation. Similar view has also been expressed in the following decisions i.e., (1) CIT vs. Oswal Agro Mills Ltd., 238 CTR 113 (2) CIT vs. Oswal Woollen Mills Ltd., 206 CTR 141 (P & H). Therefore, the principle of law which emerges from the aforesaid judicial precedents is to the effect that the term 'used' as employed in section 32(1) has to be given a wider meaning and will also include passive user of the asset. It has been held that if the machinery or plant is ready…

M/S.Emco Dyestuff Private Limited, Mumbai vs. DCIT 12(2)(1), Mumbai

In the result appeal of the assessee in ITA No

ITA 703/MUM/2018[2013-14]Status: DisposedITAT Mumbai04 Jul 2019AY 2013-14

Bench: Shri Pawan Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.703/Mum/2018 (नििाारण वर्ा / Assessment Year: 2013-14) बिाम/ M/S. Emco Dyestuff Dcit 12(2)(1), Private Ltd. 5Th Floor, Unit No. 304, Earnest House, V. Western Edge, Nariman Point, W E Highway, Mumbai-400021 Dattapada Road, Borivali East, Mumbai-400066 स्थायी ऱेखा सं./ Pan: Aaace1167D (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Snehal R. Shah Revenue By: Shri. V.K Chaturvedi (Dr) सुनवाई की तारीख /Date Of Hearing : 10.04.2019 घोषणा की तारीख /Date Of Pronouncement : 04.07.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 703/Mum/2018, Is Directed Against Appellate Order Dated 16.10.2017, Passed By Learned Commissioner Of Income Tax (Appeals)-20, Mumbai (Hereinafter Called “The Cit(A)”) In Appeal Number Cit(A)-20/Dcit-12(2)(1)/It-10040/16- 17 For Assessment Year 2013-14, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 11.03.2016 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2013-14. I.T.A. No.703/Mum/2018

For Appellant: Shri. Snehal R. ShahFor Respondent: Shri. V.K Chaturvedi (DR)

Section 143(3)

…poses. Reliance was placed by learned counsel for assessee on the decision of 8 | P a g e I.T.A. No.703/Mum/2018 Hon‟ble Delhi High Court in the case of CIT v. Oswal Agro Mills Ltd. & Ors. in ITA no. 161 of 2006 & Ors. vide judgement dated 24.12.2010 (2012) 341 ITR 467(Del.). Reliance was also placed by learned counsel for the assessee on the judgment of Hon‟ble Bombay High Court in the case of CIT v. G.R. Shipping Limited in ITA No. 598 of 2009 , vide judgment dated 28.07.2009 which appeal arose from decision of Mumbai-tribunal in the case of G.R. Shipping Limited v. DCIT in ITA No. 822/Mum/2005 vide appellate…

DCIT, New Delhi vs. M/S Jsl Ltd., Hisar

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 4110/DEL/2013[2007-08]Status: DisposedITAT Delhi19 Nov 2018AY 2007-08

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR

Section 92CSection 92C(2)

…-08 and 2008-09 Jindal Steel Limited Vs ACIT Cen Circle 4(1) , New Delhi assets sold during the year. Reliance in this regard is placed on the decision of High Court of Delhi in the case of CIT vs Oswal Agro Mills Ltd. and Oswal Chemicals and Fertilizers Ltd. 341 ITR 467, wherein it was held that depreciation is to be allowed on the asset, forming part of the 'block of assets' even if it is not used, i.e. the depreciation is to be allowed with respect to the block of assets and not the individual assets. The action of the assessing officer therefore is inconsistent with the scheme of depreciation provided under s…

Jindal Stainless Ltd., Hisar vs. DCIT, New Delhi

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 6337/DEL/2012[2008-09]Status: DisposedITAT Delhi19 Nov 2018AY 2008-09

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR

Section 92CSection 92C(2)

ACIT Cen Cir 33, Mumbai vs. Eskay Knit (I) Ltd, Mumbai

In the result, the appeal filed by the assessee in ITA

ITA 7416/MUM/2011[2002-03]Status: DisposedITAT Mumbai28 Sept 2018AY 2002-03

Bench: Shri Saktijit Dey() & Shri G Manjunatha ()

…ther the same has been used in the year under consideration or not is irrelevant for the purpose of claiming depreciation. This position has been clarified by various courts including Hon’ble Delhi High Court in the case of CIT vs Oswal Agro Mills Ltd (2012) 341 ITR 467 (Del) where it was held that depreciation is allowed on block of asset and the revenue cannot segregate a particular asset therefrom on the ground that it was not put to use. In this case, on perusal of facts it is clear that the texturised unit is part of the textile plant of the assessee and the unit was functioning in the earlier years. The…

Eskay K'N'It (India) Ltd., Mumbai vs. A.C.I.T. Central Circle -33, Mumbai

In the result, the appeal filed by the assessee in ITA

ITA 6816/MUM/2011[2002-03]Status: DisposedITAT Mumbai28 Sept 2018AY 2002-03

Bench: Shri Saktijit Dey() & Shri G Manjunatha ()

Indexone Tradecone Pvt. Ltd., Jaipur vs. Deputy Commissioner of Income Tax, Jaipur

In the result, the appeal of the assessee is partly allowed

ITA 21/JPR/2018[2013-13]Status: DisposedITAT Jaipur15 Aug 2018AY 2013-13

For Appellant: Shri G. M. Mehta (CA)For Respondent: Shri J. C. Kulhari (JCIT)

…f assets have to be simultaneously used for being entitled to depreciation. (3) CIT Vs. Mentha & Allied Products (2010) 236 CTR (All) 329: Even if the asset has been used for trial run, depreciation cannot be denied. (4) CITVs. Oswal Agro Mills Ltd. (2012) 341 ITR 467 (Del): Assets forming part of block of assets — depreciation to be allowed even if not used in relevant year. (5) CIT Vs. Radio Today Broadcasting Ltd. (2016) 382 ITR 42 (Del) : Plant and Machinery kept ready for use- use of asset in relevant accounting year-Meaning of word "use" Assets kept ready for use would amount to use. 10 Indexone Trade…

M/S Sanjay Shankarrao Jadhao, Amravati vs. Jioint C.I.T. Amravati Range, Amravati

In the result, assessee’s appeal stands allowed

ITA 66/NAG/2017[2011-12]Status: DisposedITAT Nagpur23 Apr 2018AY 2011-12

Bench: Shri Shamim Yahya & Shri Ram Lal Negi

For Appellant: Shri K.P. DewaniFor Respondent: Shri Gitesh Kumar

Section 234ASection 54B

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER ITA no.66/Nag./2017 (Assessment Year : 2011–12) Shri Sanjay Shankarrao Jadhao Prop: M/s. Jadhao Gears, M/s. Jadhao Icons and M/s. Jadhao Coex …………… Appellant MIDC, Amravati 444 607 PAN – AARPJ6547L v/s Jt. Commissioner of Income Tax ..…….………. Respondent Amravati Range, Amravati Assessee by : Shri K.P. Dewani Revenue by : Shri Gitesh Kumar Date of Hearing – 07.05.2018 Date of Order – 08.05.2018 O R D E R PER SHAMIM YAHYA, J.M. The present appeal filed the assessee i…

G Shoe Export, Mumbai vs. ACIT 25(1), Mumbai

In the result, appeal of the Revenue is dismissed whereas appeal of the assessee is allowed in part

ITA 5736/MUM/2014[2010-11]Status: DisposedITAT Mumbai24 Jan 2018AY 2010-11

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm Acit 25(1) Vs. M/S. G. Shoe Export 2Nd Floor, Bandra Kurla 1, Hitex Industrial Estate Complex, S.V.Road, Dahisar (E) Bandra Mumbai – 400 068 Mumbai – 400 081 Pan/Gir No. Aacfg5376P Appellant) Respondent) .. M/S. G. Shoe Export Vs. Acit 25(1) 2Nd 1, Hitex Industrial Estate Floor, Bandra Kurla S.V.Road, Dahisar (E) Complex, Mumbai – 400 068 Bandra Mumbai – 400 081 Pan/Gir No. Aacfg5376P Appellant) .. Respondent)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM ACIT 25(1) Vs. M/s. G. Shoe Export 2nd Floor, Bandra Kurla 1, Hitex Industrial Estate Complex, S.V.Road, Dahisar (E) Bandra Mumbai – 400 068 Mumbai – 400 081 PAN/GIR No. AACFG5376P Appellant) Respondent) .. M/s. G. Shoe Export Vs. ACIT 25(1) 2nd 1, Hitex Industrial Estate Floor, Bandra Kurla S.V.Road, Dahisar (E) Complex, Mumbai – 400 068 Bandra Mumbai – 400 081 PAN/GIR No. AACFG5376P Appellant) .. Respondent) Assessee by Shri N.R.Agrawal Revenue by Shri V.V.Vidhyadhar Date of Hearing 04/01/2018 Date of…

DCIT, New Delhi vs. M/S. Cement Corporation of India Ltd., New Delhi

In the result, the appeal is allowed for statistical purposes

ITA 1985/DEL/2013[2007-08]Status: DisposedITAT Delhi31 Aug 2017AY 2007-08

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

Section 32

…the light of the proposition of law laid down by various courts in the 1985, 2946 & 5399 /Del./2013 7 decisions relied by the assessee as well as the decision rendered by Hon’ble Jurisdictional High court in the case of CIT vs. Oswal Agro Mills Ltd., (2012) 341 ITR 467 (Delhi). We accordingly, remit the matter back to the file of Assessing Officer for deciding the issue afresh in the light of observations made in the body of this order above. Needless to say, reasonable opportunity of being heard shall be afforded to the assessee. Accordingly, the appeal of the assessee deserves to be allowed for statistical pu…