CIT v. Rajesh Exports Ltd.

9 SOT 28Income Tax Appellate Tribunal2006#14496 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2022.

Judgments citing CIT v. Rajesh Exports Ltd.

National Housing Bank, New Delhi vs. ACIT Circle 17(2), New Delhi

ITA 2657/DEL/2019[2014-15]Status: DisposedITAT Delhi15 Jun 2022AY 2014-15

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmanational Housing Bank, Vs. Acit, Core-5A, India Habitat Centre, Circle-17(2), Lodhi Road, New Delhi New Delhi Pan: Aabcn2600H (Appellant) (Respondent)

For Appellant: Shri Kamal Bansal, CAFor Respondent: Shri N. C. Swain, CIT DR

Section 143(3)

…leasehold being subject to amortization and effectively the total cost paid for the premises will be considered For amount of depreciation. Ld. AR relied upon the decision rendered by the coordinate Bench of the Terminal in CIT vs. Rajesh Exports Ltd. (2006) 9 SOT 28 (Bang.) which has further than relied upon by the co-ordinate Bench of the Tribunal in ease of ITO vs Millennium Spire India Management (P) Ltd. ITA No.3297/Del/2013. 27. Operative part of the aforesaid decisions rendered by the coordinate Bench of the Tribunal in CIT vs. Rajesh Exports Ltd. (supra) is extracted for ready perusal as under: “Under se…

National Housing Bank, New Delhi vs. DCIT, Circle-17(2), New Delhi

In the result, appeal of the assessee is allowed

ITA 4358/DEL/2018[2013-14]Status: DisposedITAT Delhi21 Oct 2021AY 2013-14

Bench: Shri Kul Bharat & Shri O.P.Kantassessment Year : 2013-14 National Housing Bank, Vs Acit, Core-5 A, India Habitat Circle-26(2), Centre, Lodhi Road, New Delhi New Delhi-110003. Pan-Aabcn2600H Appellant Respondent Appellant By Sh. Kamal Bansal, Adv. Respondent By Sh. Gourav Pundir, Sr.Dr Date Of Hearing 07.10.2021 Date Of Pronouncement 21.10.2021

Section 143(3)Section 14A

…so leasehold being subject to amortization and effectively the total cost paid for the premises will be considered for amount of depreciation. Ld.AR relied upon the decision rendered by the Coordinate Bench of the Tribunal in CIT vs Rajesh Exports Ltd. (2006) 9 SOT 28 (Bang.) which has further than relied upon by the Co-ordinate Bench of the Tribunal in case of ITO vs Millennium Spire India management (P)Ltd. ITA No.3297/Del/2013. 27. Operative part of the aforesaid decisions rendered by the Coordinate bench of the Tribunal in CIT vs Rajesh Exports Ltd. (supra) is extracted for ready perusal as under:- “Under sec…

M/S. National Housing Bank, New Delhi vs. DCIT, New Delhi

In the result, appeal filed by Assessee is allowed

ITA 477/DEL/2017[2012-13]Status: DisposedITAT Delhi10 Feb 2020AY 2012-13

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

For Appellant: Shri Surender Kumar, C.AFor Respondent: Ms. Rakhi Vimal, Sr. DR

Section 143(3)

…sis was filed from assessee’s side; the relevant portion of which is reproduced as under: ” Page 6 of 10 ITA No.- 477/Del/2017. M/s National Housing Bank. (C.2) A copy of order in the case of Joint Commissioner of Income-Tax vs. Rajesh Exports Ltd. [2006] 9 SOT 28 (Bangalore)(URO) and copy of order dated 28.03.2019 of Co-ordinate Bench of ITAT, Delhi, in assessee’s own case for Assessment Years 2010- 11 and 2011-12 in ITA Nos.- 536/Del/2014, 6888/Del/2014, 708/Del/2014 and 6799/Del/2014; were also filed from the assessee’s side during appellate proceedings in ITAT. (D) At the time of hearing before us, the…

Vikas Gupta, New Delhi vs. ACIT, New Delhi

In the result, the appeals of the assessee are allowed

ITA 2332/DEL/2015[2010-11]Status: DisposedITAT Delhi12 Jul 2018AY 2010-11

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm

For Appellant: Ms. Roli Chaubey, CAFor Respondent: Sh. K. Tiwari, Sr. DR

Section 143(1)

…by the AR that appellant had paid composite price for the purchase of entire factory including the cost of rights in the lease hold land underneath such building. AR in this regard placed his reliance in the case reported as CIT Vs Rajesh Exports Ltd. (2006) 9 SOT 28 (Bang.) (URO) and claimed that depreciation is allowable on the entire price paid without any break-up between the cost of the building and the land. It has also been 6 Vikas Gupta contended that there was no segregation of cost towards land and building and payment was made for the entire premises. It was also submitted that there was no distincti…

Tiger Commerce Pvt. Ltd.(Now Primarc Story Venture Pvt. Ltd.), Kolkata vs. ACIT, Circle-3, Kolkata

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 2049/KOL/2014[2005-2006]Status: DisposedITAT Kolkata06 Dec 2017AY 2005-2006

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] I.T.A No. 2049/Kol/2014 Assessment Year : 2005-06 Primarc Story Venture Pvt Ltd -Vs- Acit, Circle-3, Kolkata (Formerly Tiger Commerce Pvt Ltd) [Pan: Aabct 8460 B] (Appellant) (Respondent)

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri David Z. Chowngthu, Addl. CIT, Sr. DR

Section 143(3)

…the building are composite with the land then the Hon,ble Tribunal of Bangalore has decided the issue in favour of 3 4 Tiger Commerce Pvt. Ltd.(Now Primarc Story Venture Pvt. Ltd. A.Yr.2005-06 the assessee in the case of CIT Vs. Rajesh Exports Ltd. (2006) 9 SOT 28. The relevant extract is reproduced below:- “Where the assessee purchase a building and the purchase price (as per sale deed) is a composite one (sale deed does not indicate the prices of land and building separately), then no distinction at least in the consideration paid to the vendor can be made and the entire amount is qualified for depreciation…

I.T.O WD - 7(3), Kolkata. vs. M/S Shree Banke Behari Enterprises Private Limited., Kolkata

In the result, Revenue’s appeal stands partly allowed for statistical purpose

ITA 350/KOL/2013[2009-10]Status: DisposedITAT Kolkata26 Aug 2016AY 2009-10

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2009-10

Section 143(3)Section 145

…rivate Limited reported. However we find that on similar facts where the rates of the building are composite with the land then the Hon,ble Tribunal of Bangalore has decided the issue in favour of the assessee in the case of CIT Vs. Rajesh Exports Ltd. (2006) 9 SOT 28. The relevant extract is reproduced below:- “Where the assessee purchase a building and the purchase price (as per sale deed) is a composite one (sale deed does not indicate the prices of land and building separately), then no distinction at least in the consideration paid to the vendor can be made and the entire amount is qualified for depreciatio…

Bharat Homes Ltd., Mumbai vs. A.C.I.T. - 9(1), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 6792/MUM/2011[2008-09]Status: DisposedITAT Mumbai27 May 2016AY 2008-09

Bench: S/Shri B.R. Baskaran (Am) & Amit Shukla (Jm) I.T.A. No. 6792/Mum/2011 (Assessment Year 2008-09)

Section 6

…entity after entering into the block and hence the AO should not have disturbed the WDV of the block of asset. He further submitted that the Bangalore bench of ITAT has also considered an identical issue and it has held in the case of JCIT Vs. Rajesh Exports (9 SOT 28)(Bang.) as under:- “Under section 32(1) of the Act, the word “building” is to be interpreted as the superstructure and not land. Where the assessee purchases building and the purchase price (as per sale deed) is a composite one (sale deed does not indicate the prices of land and building separately), then no distinction at least in the consideratio…