CIT v. Pioneer Asia Packaging Private Limited

310 ITR 198High Court2009#24417 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2016.

Judgments citing CIT v. Pioneer Asia Packaging Private Limited

Indian Bank, Chennai vs. DCIT, Chennai

In the result, the appeal of the assessee stands allowed

ITA 1220/CHNY/2016[2003-2004]Status: DisposedITAT Chennai28 Oct 2016AY 2003-2004

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. No. 1220/Mds/2016 "नधा"रण वष" /Assessment Year : 2003-2004

For Appellant: Shri. S. Swaminathan, C.AFor Respondent: Shri. Supriyo Pal, IRS, JCIT

Section 143(3)Section 154Section 32Section 32(2)

…he ld. Commissioner of ITA No. 1220/Mds/2016. :- 3 -: Income Tax (Appeals) was not appreciative of this contention. According to him, by virtue of judgments of Hon’ble Madras High Court in the case of CIT vs. Pioneer Asia Packaging Private Limited (2009) 310 ITR 198 and that of CIT vs. S & S Power Switchgear Limited 318 ITR 187 unabsorbed depreciation loss could be adjusted only against business profit. As per ld. Commissioner of Income Tax (Appeals) such unabsorbed depreciation could not be allowed a set off against income from house property and income from other source as done by the assessee. Thus,…

Asst CIT Cir 6(1), Mumbai vs. Anil Priners Ltd, Mumbai

The appeal of the Revenue is dismissed

ITA 5859/MUM/2013[2009-10]Status: DisposedITAT Mumbai14 Mar 2016AY 2009-10

Bench: Shri Joginder Singh & Shri Rajendraassessment Year-2009-10 Acit, Anil Printers Ltd. Circle-6(1), R. No.506, 2, Kakad Industrial Estate, बनाम/ 5Th Floor, Aayakar Bhavan, Matunga West, Vs. M.K.Road, Mumbai-400016 Mumbai-400020 Pan No.Aacca6914C (अपीलाथ" /Appellant) (""यथ"/Respondent)

Section 114JSection 139(1)Section 139(3)Section 143(1)Section 143(2)Section 32(2)Section 32oSection 42Section 80

…sessee was entitled to carry forward of unabsorbed depreciation u/s 32(2) notwithstanding the fact that the losses has been determined. The ratio laid down in CIT vs R.S. Bajwa & company (2008) 301 ITR 333 (Jhar.), CIT vs Pioneer Asia Packing Pvt. Ltd. (2009) 310 ITR 198 (Mad.), CIT vs S & S Power Switch Gears Ltd. (2009) 318 ITR 187 14 (Mad.), CIT vs RPIL Signalling Systems Ltd. (2010) 328 ITR 283 (Mad.), CIT vs Bancomar Hotels (Goa) Pvt. Ltd. (2011) 332 ITR 441 (Bom.), CIT vs Govind Nagar Sugar Ltd. (2011) 334 ITR 13 (Del.) and CIT vs Yokogawa India Ltd. (2012) 341 ITR 385 (Karn.) supports the case of the asse…

D.C.I.T Cir - 1, Kolkata vs. M/S the India Jute & Industries Ltd, Kolkata

In the result, the grounds raised by the revenue are dismissed

ITA 802/KOL/2013[2007-08]Status: DisposedITAT Kolkata04 Dec 2015AY 2007-08

Bench: : Shri M. Balaganeshita No. 802/Kol/2013 A.Y 2007-08 D.C.I.T, Circle-1, Kolkata Vs. M/S. The India Jute & Industries Ltd Pan: Aabct1896P (Appellant) (Respondent)

For Appellant: Shri D. Lahiri,JCIT, Sr.DRFor Respondent: Shri A.K Tibrewal, FCA, ld.AR

Section 143(3)Section 154

…eprecation losses for an infinite period only in respect of losses arising from Asst Year 2002-03 onwards and not for earlier years. He placed reliance on the judgements of Hon’ble Madras High Court in the case of CIT vs Pioneer Asia Packing P Ltd reported in 310 ITR 198 (Mad) and CIT vs S&S Power Switchgear Ltd reported in 318 ITR 187 (Mad) in support of his contentions. He further argued that in the facts and circumstances of the case, the only possible action that could be taken by the Learned AO is to take recourse to section 154 of the Act, more so when the issue involved is only allowability of brought forw…