CIT v. Parthas Trust

249 ITR 120High Court2001#8341 most cited

What is CIT v. Parthas Trust authority for?

An assessee is entitled to depreciation on buildings it constructed, even if the land on which they stand is not registered in its name. The term 'ownership' for depreciation purposes under Section 32 of the Income Tax Act is interpreted broadly to include beneficial ownership and the right to use the property for business.

13

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2019.

Also referred to as

CIT vs. Parthas Trust · depreciation · ownership · Section 32 · beneficial ownership · right to use · buildings · land not registered

Judgments citing CIT v. Parthas Trust

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Global Resources Ltd(Eaelier Known As Gupta Coalfields & Washheries Ltd), Nagpur

In the result, cross objections No

ITA 485/NAG/2014[2010-11]Status: DisposedITAT Nagpur22 Oct 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Global Resources Ltd(Eaelier Known As Gupta Coalfields & Washheries Ltd), Nagpur

In the result, cross objections No

ITA 484/NAG/2014[2009-10]Status: DisposedITAT Nagpur22 Oct 2019AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Global Resources Ltd(Eaelier Known As Gupta Coalfields & Washheries Ltd), Nagpur

In the result, cross objections No

ITA 483/NAG/2014[2007-08]Status: DisposedITAT Nagpur22 Oct 2019AY 2007-08

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Global Resources Ltd(Eaelier Known As Gupta Coalfields 7 Washheries Ltd), Nagpur

In the result, cross objections No

ITA 482/NAG/2014[2006-07]Status: DisposedITAT Nagpur22 Oct 2019AY 2006-07

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Coal(India) Ltd, Nagpur

In the result, cross objections No

ITA 481/NAG/2014[2010-11]Status: DisposedITAT Nagpur22 Oct 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Coal(India) Ltd, Nagpur

In the result, cross objections No

ITA 480/NAG/2014[2009-10]Status: DisposedITAT Nagpur22 Oct 2019AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Coal(India) Ltd, Nagpur

In the result, cross objections No

ITA 479/NAG/2014[2008-09]Status: DisposedITAT Nagpur22 Oct 2019AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Coal(India) Ltd, Nagpur

In the result, cross objections No

ITA 478/NAG/2014[2007-08]Status: DisposedITAT Nagpur22 Oct 2019AY 2007-08

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt. C.I.T, Central Cir, -2(1), Nagpur vs. M/S Gupta Coal(India) Ltd, Nagpur

In the result, cross objections No

ITA 477/NAG/2014[2006-07]Status: DisposedITAT Nagpur22 Oct 2019AY 2006-07

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Asstt.C, I, .T, Central Cir, -2(3), Nagpur vs. M/S Gupta Coalfields & Washeries Ltd., Nagpur

In the result, cross objections No

ITA 429/NAG/2014[2005-06]Status: FixedITAT Nagpur22 Oct 2019AY 2005-06

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Astt.Commissioner of Income Tax, Central Cir 2(3) R, Nagpur vs. M Gupta Coalfields & Washeries Ltd., Nagpur

In the result, cross objections No

ITA 414/NAG/2014[2008-09]Status: DisposedITAT Nagpur22 Oct 2019AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation on the buildings constructed by it though the land on which they stood was not registered in its name. In the instant case the road laid down and the railway siding constructed are assets on which the assessee, is having right to use and been utilised for business purposes, the same are subject to…

Shyamala Pictures and Hotel Private Limited, Chennai vs. DCIT, Chennai

In the result, the assessee’s appeal is partly allowed for statistical purposes

ITA 1185/CHNY/2015[2009-10]Status: DisposedITAT Chennai27 Sept 2017AY 2009-10

Bench: Shri Sanjay Arora & Shri George Mathan

For Appellant: Shri Ashish Tripathi, Jt. CITFor Respondent: 04.07.2017
Section 143(3)Section 14ASection 14A(2)Section 28

…ext in which the word ‘building’ is used in the Act. The matter is in fact well settled, having been followed by different High Courts in different fact settings (as, inter alia, in CIT vs. Citibank N. A. [2003] 261 ITR 570 (Bom); CIT vs. Parthas Trust [2001] 249 ITR 120 (Ker); CIT v. Dr. D.L. Ramachandra Rao [1999] 236 ITR 51 (Mad); CIT vs. Vimal Chand Golecha [1993] 201 ITR 442 (Raj)), and also applied by the tribunal in many a case (viz. Asst. CIT v. Eagle Burgmann Inds. (P.) Ltd. (in ITA No.4249/Mum/2012 dated 08/4/2015). Further, the land, being owned by the assessee since prior to 01.04.1981, shall be a lon…

ACIT, New Delhi vs. D.V.S. Steels & Alloys Pvt. Ltd., New Delhi

The appeal is dismissed

ITA 4238/DEL/2010[2006-07]Status: DisposedITAT Delhi15 Dec 2015AY 2006-07

Bench: Shri S.V. Mehrotra & Ms. Suchitra Kamblei.T.A .No.-4238/Del/2010 (Assessment Year-2006-07)

Section 32Section 32(1)

…ent P. Ltd 226 ITR 625; Mysore Minerals Ltd. 239 ITR 775; Fazilka Dabwali Transport Co. 270 ITR 398 and several other decisions of Hon'ble High Court viz. CIT vs. Gaekwad & Co. 277 ITR 553; CIT vs. Sarabhai Chemicals P. Ltd. 254 ITR 625; CIT vs. Parthas Trust 249 ITR 120. The sum and substance of these decisions are that the term “ownership” as occurring in S. 32 of IT Act should be assigned a wider meaning. That anyone in possession of property in his own right and enjoying the beneficial ownership thereof to exclusion of others and entitled to receive income from the same is a “owner” for purpose of allowance o…