CIT v. Podar Cement (P.) Ltd.

92 Taxmann 541Supreme Court of India1997#3967 most cited

What is CIT v. Podar Cement (P.) Ltd. authority for?

Registration of a sale deed is not mandatory for a person to be considered an 'owner' for the purposes of Section 22 of the Income Tax Act, as ownership is defined by the right to receive income in one's own right.

30

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Podar Cement (P.) Ltd. · Section 22 · owner · registration of sale deed · income tax act · right to receive income · depreciation on property · ownership definition

Also reported as

226 ITR 6252

Sections most often in play

Section 45Section 54FSection 142(1)Section 147Section 54Section 143(2)Section 143(3)Section 144C(13)
Read the full judgment

Issues it is cited on

section 54(1)long-term capital assetdate of transferdemergersection 54fright to receiveindexed cost of acquisitionsection 54section 22section 45section 17long term capital gain

Judgments citing CIT v. Podar Cement (P.) Ltd.

Valecha Badwani Sendhwa Tollways Limited, Mumbai vs. Principal Commissioner of Income Tax - 11, Mumbai

In the result, the grounds of appeal raised by assessee are allowed

ITA 2848/MUM/2018[2013-14]Status: DisposedITAT Mumbai23 Apr 2019AY 2013-14

Bench: Shri G.S. Pannu, Vice- & Shri Pawan Singhvalecha Badwani Sendhwa Pcit-11 Tollways Ltd. 4Th Floor, R.No. 417, Aayakar Bhavan, Valecha Chambers, Andheri M.K. Road, Mumbai-400020. New Link Road, Andheri (W), Vs. Mumbai-400053. Pan: Aadcv6105B Appellant Respondent Valecha Lm Tools Pvt. Ltd. Pcit-11 4Th Floor, Valecha Chambers, R.No. 417, Aayakar Bhavan, Andheri New Link Road, M.K. Road, Mumbai-400020. Andheri (W), Vs. Mumbai-400053. Pan: Aadcv2787M Appellant Respondent : Shri Sumant Chadha With Appellant By Mr. Jitendra Trivedi (Ar) Respondent By : Shri S.K. Poddar (Cit-Dr) Date Of Hearing : 01.04.2019 Date Of Pronouncement : 23.04.2019

For Respondent: Shri Sumant Chadha with
Section 143(3)Section 254(1)Section 263Section 32

…IN THE INCOME-TAX APPELLATE TRIBUNAL “F” BENCH MUMBAI BEFORE SHRI G.S. PANNU, VICE-PRESIDENT AND SHRI PAWAN SINGH, JUDICIAL MEMBER Valecha Badwani Sendhwa PCIT-11 Tollways Ltd. 4th Floor, R.No. 417, Aayakar Bhavan, Valecha Chambers, Andheri M.K. Road, Mumbai-400020. New Link Road, Andheri (W), Vs. Mumbai-400053. PAN: AADCV6105B Appellant Respondent Valecha LM Tools Pvt. Ltd. PCIT-11 4th Floor, Valecha Chambers, R.No. 417, Aayakar Bhavan, Andheri New Link Road, M.K. Road, Mumbai-400020. Andheri (W), Vs. Mumbai-400053. PAN: AADCV2787M Appellant Respondent : Shri Sumant Chadha with Appellant by Mr. Jitendra Trive…

Premkumar Khurana, Mumbai vs. Asst CIT Cen Cir 3(2), Mumbai

The appeal of the assessee is partly allowed in terms of our aforesaid observations

ITA 3525/MUM/2017[2012-13]Status: DisposedITAT Mumbai29 Mar 2019AY 2012-13

Bench: Shri Ravish Sood & Shri N.K. Pradhanshri Prem Kumar Khurana Asst. Commissioner Of Income Tax 501, Raheja Centre, Central Circle 3(2), Free Press, Journal Marg, Vs. Room No. 339, Aayakar Bhavan, Nariman Point, M.K. Road, Mumbai – 400 021 Mumbai – 400 020 Pan – Aggpk6149Q (Appellant) (Respondent)

For Appellant: Shri Sekhar Gupta, A.RFor Respondent: Shri Abi Rama Kartikiyan, D.R
Section 143(1)Section 143(2)Section 143(3)Section 23Section 23(1)(a)Section 24Section 68

…ho have rightly observed that the ALV of the said property was liable to be assessed in the hands of the assessee under Sec. 23 of the I.T Act. Insofar the judgment of the Hon‟ble Supreme Court in the case of the CIT Vs. Podar Cement Pvt. Ltd. and Ors. (1997) 227 ITR 625 (SC) as had been relied upon by the P a g e | 8 ITA No. 3525/Mum/2017 AY. 2012-13 Shri Prem Kumar Khurana Vs. Asst. Commissioner of Income Tax CC 3(2) ld. A.R is concerned, we find that the same rather assists the view taken by the revenue. In the aforementioned case the Hon‟ble Supreme Court had concluded that in the context of Sec. 22 “owner” i…

M/S. Tuv Rheinland Nife Academy Private Limited, Bengaluru vs. Income Tax Officer, Ward-7(1)(2), Bengaluru

In the result, the assessee’s appeal for Assessment Year 2015-16

ITA 3160/BANG/2018[2015-16]Status: DisposedITAT Bangalore27 Feb 2019AY 2015-16

Bench: Shri N. V. Vasudevanand Shri Jason P. Boazassessment Year : 2015-16 M/S. Tuv Rheinland Nife Vs. The Income Tax Officer, Academy Pvt. Ltd., Ward-7(1)(2), No.27/B, 2Nd Cross, 13, Bengaluru. Konappan Agrahara, Begur Hobli, Electronic City, Bangalore – 560 100. Pan : Aaect 8703 A Appellant Respondent

For Appellant: Ms. Kavitha P, CAFor Respondent: Shri. C. H. Sundar Rao, CIT-DR-I
Section 143(3)Section 56(2)Section 56(2)(viib)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N. V. VASUDEVAN, VICE PRESIDENTAND SHRI JASON P. BOAZ, ACCOUNTANT MEMBER Assessment year : 2015-16 M/s. TUV Rheinland NIFE Vs. The Income Tax Officer, Academy Pvt. Ltd., Ward-7(1)(2), No.27/B, 2nd Cross, 13, Bengaluru. Konappan Agrahara, Begur Hobli, Electronic City, Bangalore – 560 100. PAN : AAECT 8703 A APPELLANT RESPONDENT Assessee by : Ms. Kavitha P, CA Revenue by : Shri. C. H. Sundar Rao, CIT-DR-I Date of hearing : 17.12.2018 Date of Pronouncement : 27.02.2019 O R D E R Per Jason P. Boaz, Accountant Member This appeal by the assesse…

Thiruvananthapuram Road Development Co. Ltd, Orrissa vs. DCIT 14(3)(1), Mumbai

Appeal of the assessee is disposed of in terms of the order in ITA

ITA 622/MUM/2015[2010-11]Status: DisposedITAT Mumbai23 May 2018AY 2010-11

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 Thiruvananthapuram Road Dcit-14(3)(1), Development Company Ltd. बनाम/ (Earlier Dcit-10(1), The Il & Fs Financial Centre, Room No.455, 4Th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aacct0547J Assessment Year: 2010-11 Dcit-14(3)(1), Thiruvananthapuram Road (Earlier Dcit-10(1), Development Company Ltd. बनाम/ Room No.455, 4Th Floor, The Il & Fs Financial Vs. Aayakar Bhavan, Centre, Plot No.C-22, M. K. Road, G Block, Bandra Kurla Mumbai-400020 Complex, Bandra (East), Mumbai-400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aacct0547J

Section 143Section 253Section 32

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ई, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member Assessment Year: 2010-11 Thiruvananthapuram Road DCIT-14(3)(1), Development Company Ltd. बनाम/ (Earlier DCIT-10(1), The IL & FS Financial Centre, Room No.455, 4th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AACCT0547J Assessm…

DCIT 14(3)(1), Mumbai vs. Thirvanthapuram Road Development Company Ltd, Mumbai

Appeal of the assessee is disposed of in terms of the order in ITA

ITA 4346/MUM/2015[2011-12]Status: DisposedITAT Mumbai23 May 2018AY 2011-12

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 Thiruvananthapuram Road Dcit-14(3)(1), Development Company Ltd. बनाम/ (Earlier Dcit-10(1), The Il & Fs Financial Centre, Room No.455, 4Th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aacct0547J Assessment Year: 2010-11 Dcit-14(3)(1), Thiruvananthapuram Road (Earlier Dcit-10(1), Development Company Ltd. बनाम/ Room No.455, 4Th Floor, The Il & Fs Financial Vs. Aayakar Bhavan, Centre, Plot No.C-22, M. K. Road, G Block, Bandra Kurla Mumbai-400020 Complex, Bandra (East), Mumbai-400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aacct0547J

Section 143Section 253Section 32

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ई, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member Assessment Year: 2010-11 Thiruvananthapuram Road DCIT-14(3)(1), Development Company Ltd. बनाम/ (Earlier DCIT-10(1), The IL & FS Financial Centre, Room No.455, 4th Floor, Vs. Plot No.C-22, Aayakar Bhavan, G Block, Bandra Kurla M. K. Road, Complex, Bandra (East), Mumbai-400020 Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AACCT0547J Assessm…

Mrs.Kavita Tiwari, Bangalore vs. Income Tax Officer, Bangalore

In the result, the assessee’s appeal for asst

ITA 1916/BANG/2016[2011-12]Status: DisposedITAT Bangalore11 Oct 2017AY 2011-12

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazmrs. Kavita Tiwari, D-202, Adarsh Residency, 8Th Block, Jayanagar, Sangam Circle, Bengaluru. . Appellant Vs. The Income-Tax Officer, Ward-4(4), Bengaluru. . Respondent Pan – Acvpt1583G. Appellant By : Shri R.E Balasubramaniam, C.A Respondent By : Shri M.K Biju, Jcit Date Of Hearing : 16-08-2017 Date Of Pronouncement : -10-2017 O R D E R

For Appellant: Shri R.E Balasubramaniam, C.AFor Respondent: Shri M.K Biju, JCIT
Section 143(1)Section 143(3)Section 54

…IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH ‘C’ BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER Mrs. Kavita Tiwari, D-202, Adarsh Residency, 8th Block, Jayanagar, Sangam Circle, Bengaluru. . Appellant Vs. The Income-tax Officer, Ward-4(4), Bengaluru. . Respondent PAN – ACVPT1583G. Appellant by : Shri R.E Balasubramaniam, C.A Respondent by : Shri M.K Biju, JCIT Date of Hearing : 16-08-2017 Date of Pronouncement : -10-2017 O R D E R PER SHRI JASON P BOAZ, ACCOUNTANT MEMBER : This appeal by the assessee is directed against the order of the CIT(A)-7, Bangalore dat…

Crompton Greaves Ltd, Mumbai vs. CIT -6, Mumbai

In the result, the appeals filed by the assessee company in ITA no

ITA 2836/MUM/2014[2007-08]Status: DisposedITAT Mumbai01 Feb 2016AY 2007-08

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kochar"ी शैल" कुमार यादव, "या"यक सद"य एवं "ी "ी रिमत कोचर, लेखाकार सद"य के सम" । आयकर अपील सं./I.T.A. No. 1994/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 2836/Mum/2014 ("नधा"रण वष" / Assessment Year : 2007-08) M/S Crompton Greaves बनाम/ Cit – 6,Mumbai, Ltd.,6Th Floor, C.G. House, 5Th Floor, V. Dr. A.B. Road, Worli, Aayakar Bhavan, Mumbai – 400 030. M.K. Road, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaacc3840K .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By Shri Pradeep N. Kapasi Revenue By : Shri C.W. Angolkar सुनवाई क" तार"ख /Date Of Hearing : 29-10-2015 घोषणा क" तार"ख /Date Of Pronouncement : 01-02-2016

For Respondent: Shri C.W. Angolkar
Section 143(3)Section 263

…आयकर अपील"य अ"धकरण “C” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER "ी शैल" कुमार यादव, "या"यक सद"य एवं "ी "ी रिमत कोचर, लेखाकार सद"य के सम" । आयकर अपील सं./I.T.A. No. 1994/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 2836/Mum/2014 ("नधा"रण वष" / Assessment Year : 2007-08) M/s Crompton Greaves बनाम/ CIT – 6,Mumbai, Ltd.,6th floor, C.G. House, 5th floor, v. Dr. A.B. Road, Worli, Aayakar Bhavan, Mumbai – 400 030. M.K. Road, Mumbai – 400 020. "थायी लेखा सं./PAN : AAA…

ACIT, Chennai vs. V.S.L.India Private Limited, Chennai

In the result, the appeal of the Department in ITA

ITA 1703/CHNY/2013[2008-09]Status: DisposedITAT Chennai01 Feb 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. V. Vivekanandan, CIT. DRFor Respondent: Shri. R. Vijayaraghavan, Advocate
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…f the company and the vehicles are used for the purpose of business and maintenance expenditure was debited in the books of accounts of the appellant company and further relied on the decision of Mysore Minerals Ltd 239 ITR 175(SC) and Poddar Cements (1997) 227 ITR 625(SC) and allowed the claim. 5.2 Before the Tribunal, the ld. Departmental Representative agitated his grounds on usage of vehicle though the vehicle is the name of Managing Director, and reflected in Fixed Assets schedule, the assessee is not a legal owner of the asset and no compliance of necessary conditions for claiming depreciation u/s.32 o…

ACIT, Chennai vs. V.S.L.India Private Limited, Chennai

In the result, the appeal of the Department in ITA

ITA 1702/CHNY/2013[2007-08]Status: DisposedITAT Chennai01 Feb 2016AY 2007-08

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. V. Vivekanandan, CIT. DRFor Respondent: Shri. R. Vijayaraghavan, Advocate
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…f the company and the vehicles are used for the purpose of business and maintenance expenditure was debited in the books of accounts of the appellant company and further relied on the decision of Mysore Minerals Ltd 239 ITR 175(SC) and Poddar Cements (1997) 227 ITR 625(SC) and allowed the claim. 5.2 Before the Tribunal, the ld. Departmental Representative agitated his grounds on usage of vehicle though the vehicle is the name of Managing Director, and reflected in Fixed Assets schedule, the assessee is not a legal owner of the asset and no compliance of necessary conditions for claiming depreciation u/s.32 o…

ACIT, Chennai vs. V.S.L.India Private Limited, Chennai

In the result, the appeal of the Department in ITA

ITA 1701/CHNY/2013[2006-07]Status: DisposedITAT Chennai01 Feb 2016AY 2006-07

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. V. Vivekanandan, CIT. DRFor Respondent: Shri. R. Vijayaraghavan, Advocate
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…f the company and the vehicles are used for the purpose of business and maintenance expenditure was debited in the books of accounts of the appellant company and further relied on the decision of Mysore Minerals Ltd 239 ITR 175(SC) and Poddar Cements (1997) 227 ITR 625(SC) and allowed the claim. 5.2 Before the Tribunal, the ld. Departmental Representative agitated his grounds on usage of vehicle though the vehicle is the name of Managing Director, and reflected in Fixed Assets schedule, the assessee is not a legal owner of the asset and no compliance of necessary conditions for claiming depreciation u/s.32 o…