CIT v. S.C. Takur & Brothers

322 ITR 252Reported decision#4854 most cited

What is CIT v. S.C. Takur & Brothers authority for?

The Bombay High Court ruled that the Assessing Officer and CIT(A) relied on Circular No. 609 and the decision in CIT v. S.C. Takur & Brothers to disallow depreciation exceeding 15% on motor vehicles, implicitly acknowledging a specific interpretation of depreciation claims for certain vehicles.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.

Also referred to as

CIT v. S.C. Takur & Brothers · 322 ITR 252 · depreciation · motor vehicles · 50% depreciation · commercial vehicles · Bombay High Court · Circular No. 609 · Section 44

Sections most often in play

Section 115-OSection 115JBSection 194HSection 195Section 237Section 37(1)Section 40(a)(i)Section 44

Issues it is cited on

stay of demandsection 237section 211agency peservice pesection 195(1)opening wdvsection 9(1)(i)section 195(2)section 115jb(2)ddtsection 194h

Judgments citing CIT v. S.C. Takur & Brothers

DEPUTY COMMISSINOER OF INCOME TAX,, CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

ITA 470/CHNY/2024[2012-13]Status: DisposedITAT Chennai19 Mar 2025AY 2012-13

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.1282, 1283, 1284 & 1285/Chny/2024 निर्धारण वर्ष/Assessment Years: 2011-12, 2016-17, 2017-18 & 2018-19 M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. V. The Dcit, Non Corporate Circle-8, Chennai. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.470, 1339, 1438, 1462 & 1463/Chny/2024 निर्धारण वर्ष/Assessment Years: 2012-13, 2018-19, 2011-12, 2016-17 & 2017-18 The Dcit, Non Corporate Circle-8, Chennai. (अपीलार्थी/Appellant) M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (प्रत्यर्थी/Respondent) Assessee By Mr. Sandeep Bagmar, Advocate; Mr. Balachandar, Fca Department By Mr. Nilay Baran Som, Cit सुनवाईकीतारीख/Date Of Hearing 22.01.2025 घोषणाकीतारीख /Date Of Pronouncement 19.03.2025

Section 115JSection 14ASection 2Section 37(1)

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon'ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon'ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

DEPUTY COMMISSIONER OF INCOMETAX , CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

ITA 1463/CHNY/2024[2017-18]Status: DisposedITAT Chennai19 Mar 2025AY 2017-18

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.1282, 1283, 1284 & 1285/Chny/2024 निर्धारण वर्ष/Assessment Years: 2011-12, 2016-17, 2017-18 & 2018-19 M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. V. The Dcit, Non Corporate Circle-8, Chennai. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.470, 1339, 1438, 1462 & 1463/Chny/2024 निर्धारण वर्ष/Assessment Years: 2012-13, 2018-19, 2011-12, 2016-17 & 2017-18 The Dcit, Non Corporate Circle-8, Chennai. (अपीलार्थी/Appellant) V. M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (प्रत्यर्थी/Respondent) Assessee By Department By : Mr. Sandeep Bagmar, Advocate; Mr. Balachandar, Fca : Mr. Nilay Baran Som, Cit सुनवाईकीतारीख/Date Of Hearing : 22.01.2025 घोषणाकीतारीख /Date Of Pronouncement : 19.03.2025

For Respondent: Mr. Sandeep Bagmar, Advocate
Section 115JSection 14ASection 2Section 37(1)

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon'ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon'ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

DEPUTY COMMISSIONER OF INCOME TAX , CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

In the result, Revenue Appeal for AY 2012-13 stands dismissed

ITA 1462/CHNY/2024[2016-17]Status: DisposedITAT Chennai19 Mar 2025AY 2016-17

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

For Appellant: Mr. Sandeep BagmarFor Respondent: Mr. Nilay Baran Som, CIT
Section 115JSection 14ASection 2Section 37(1)

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

DEPUTY COMMISSIONER OF INCOME TAX, NUNGAMBAKKAM CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

In the result, Revenue Appeal for AY 2012-13 stands dismissed

ITA 1438/CHNY/2024[2011-12]Status: DisposedITAT Chennai19 Mar 2025AY 2011-12

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

For Appellant: Mr. Sandeep BagmarFor Respondent: Mr. Nilay Baran Som, CIT
Section 115JSection 14ASection 2Section 37(1)

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

DEPUTY COMMISSIONER OF INCOME TAX OFFICER , CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

In the result, Revenue Appeal for AY 2012-13 stands dismissed

ITA 1339/CHNY/2024[2018-19]Status: DisposedITAT Chennai19 Mar 2025AY 2018-19

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

For Appellant: Mr. Sandeep BagmarFor Respondent: Mr. Nilay Baran Som, CIT
Section 115JSection 14ASection 2Section 37(1)

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED,CHENNAI vs. DCIT, NON CORP WARD 8, CHENNAI

In the result, Revenue Appeal for AY 2012-13 stands dismissed

ITA 1285/CHNY/2024[2018-19]Status: DisposedITAT Chennai19 Mar 2025AY 2018-19

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

For Appellant: Mr. Sandeep BagmarFor Respondent: Mr. Nilay Baran Som, CIT
Section 115JSection 14ASection 2Section 37(1)

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED,CHENNAI vs. DCIT, NON CORP CIRCLE 8, CHENNAI

In the result, Revenue Appeal for AY 2012-13 stands dismissed

ITA 1284/CHNY/2024[2017-18]Status: DisposedITAT Chennai19 Mar 2025AY 2017-18

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

For Appellant: Mr. Sandeep BagmarFor Respondent: Mr. Nilay Baran Som, CIT
Section 115JSection 14ASection 2Section 37(1)

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED,CHENNAI vs. DCIT, NON CORP CIRCLE 8, CHENNAI

ITA 1282/CHNY/2024[2011-12]Status: DisposedITAT Chennai19 Mar 2025AY 2011-12
Section 115JSection 14ASection 2Section 37(1)Section 40

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon'ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon'ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD.,CHENNAI vs. ACIT, CHENNAI

ITA 1621/CHNY/2011[2007-08]Status: DisposedITAT Chennai26 Aug 2022AY 2007-08

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD.,CHENNAI vs. ACIT, CHENNAI

ITA 1620/CHNY/2011[2006-07]Status: DisposedITAT Chennai26 Aug 2022AY 2006-07

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

ACIT, CHENNAI vs. M/S. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

ITA 40/CHNY/2009[2005-06]Status: DisposedITAT Chennai26 Aug 2022AY 2005-06

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

M/S. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD.,CHENNAI vs. ACIT, CHENNAI

ITA 2146/CHNY/2008[2005-06]Status: DisposedITAT Chennai26 Aug 2022AY 2005-06

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

ACIT LTU 2 , CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

ITA 950/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

ACIT LTU 2 , CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED, CHENNAI

ITA 949/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

M/S CHOLAMANDALAM MS GENERAL INSUSRANCE COMPANY LIMITED,CHENNAI vs. DCIT, PARGE TAX PAYER UNIT 2

ITA 784/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

M/S CHOLAMANDALAM MS GENERAL INSUSRANCE COMPANY LIMITED,CHENNAI vs. DCIT, PARGE TAX PAYER UNIT 2

ITA 783/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

M/S CHOLAMANDALAM MS GENERAL INSUSRANCE COMPANY LIMITED,CHENNAI vs. DCIT, PARGE TAX PAYER UNIT 2

ITA 782/CHNY/2018[2013-14]Status: DisposedITAT Chennai26 Aug 2022AY 2013-14

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED,CHENNAI vs. DCIT, CHENNAI

ITA 2276/CHNY/2014[2009-10]Status: DisposedITAT Chennai26 Aug 2022AY 2009-10

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

DCIT, CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD., CHENNAI

ITA 1366/CHNY/2013[2008-2009]Status: DisposedITAT Chennai26 Aug 2022AY 2008-2009

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD.,CHENNAI vs. DCIT, CHENNAI

ITA 1350/CHNY/2013[2008-09]Status: DisposedITAT Chennai26 Aug 2022AY 2008-09

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…w motor vehicles acquired and put to use after certain dates. However, the Assessing Officer as well as the learned CIT(A) has relied upon Circular No. 609 dated 29.07.1991 and judgement of Hon’ble Bombay High Court in the case of CIT Vs S.C. Takur & Brothers 322 ITR 252 and disallowed excess claim of depreciation over and above normal depreciation of 15% applicable to general category. The learned Sr. counsel further submitted that the Hon’ble Bombay High Court in the case of CIT Vs. Birla Global Asset Finance Co. Ltd. in ITA No.828 of 2010 dated 08.08.2012 has held that the assessee was entitled to claim deprec…

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CIT v. S.C. Takur & Brothers (322 ITR 252) — Cited in 24 Judgments | BharatTax